Bhinneka News Online: Reuters Before the Bell: Huawei challenges legality of U.S. defense bill as sanctions fight ramps up

Wednesday 29 May 2019

Reuters Before the Bell: Huawei challenges legality of U.S. defense bill as sanctions fight ramps up

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Wednesday, May 29, 2019

Huawei challenges legality of U.S. defense bill as sanctions fight ramps up

China's Huawei Technologies Co Ltd has filed a legal motion seeking to declare a U.S. defense law unconstitutional, in the telecom equipment maker's latest bid to fight sanctions from Washington that threaten to push it out of global markets.

Bond bulls get a boost as trade tensions fan recession fears

The global bond rally accelerated on Wednesday, sending 10-year U.S Treasury yields to 20-month lows, as investors fearful of the fallout from the Sino-U.S. trade war sold shares and scurried for the safety of German and U.S. government debt.

U.S.'s Pompeo says Huawei is an 'instrument of Chinese government'

Secretary of State Mike Pompeo kept up U.S. pressure on Huawei Technologies Co Ltd on Wednesday, saying the Chinese tech giant takes orders from Beijing.

Nissan tells Renault 'not opposed' to Fiat Chrysler merger plan: Nikkei

Nissan on Wednesday told Renault it wasn't opposed to its partner's potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry.

Abraaj founder released from custody after $19 million bail payment

Arif Naqvi, the Pakistani founder of collapsed private equity firm Abraaj Group, has been released from custody after meeting bail conditions including the payment of a 15 million pound ($19 million) security, a court official said.

VW's Porsche CEO probed by prosecutors: Stuttgarter Nachrichten

German prosecutors are investigating the chief executive of Volkswagen's Porsche business, Oliver Blume, over a possible breach of fiduciary trust tied to payments made to a Porsche works council member, a newspaper reported on Wednesday.

ArcelorMittal takes the knife to European steel output again

ArcelorMittal underlined the problems facing the European steel industry when it cut production for the second time this month, blaming weak demand and high imports.

Pakistan extends airspace closure on Indian border to June 14

Pakistani airspace on its eastern border with India will remain closed until June 14, a civil aviation official said on Wednesday, the latest extension months after a standoff between the arch rivals.

China ready to hit back at U.S. with rare earths: newspapers

China is ready to use rare earths to strike back in a trade war with the United States, Chinese newspapers warned on Wednesday in strongly worded commentaries on a move that would escalate tensions between the world's two largest economies.

Explainer: China's rare earth supplies could be vital bargaining chip in U.S. trade war

Rare earth elements are used in a wide range of consumer products, from iPhones to electric car motors, as well as military jet engines, satellites and lasers.