Tag: Donald Trump

New York Stock Exchange to delist major Chinese oil company on March 9
4Mar By Mike TrudellNo Comments
World

New York Stock Exchange to delist major Chinese oil company on March 9

In compliance with an executive order by former US President Donald Trump, the New York Stock Exchange (NYSE) will move to delist CNOOC Ltd., the Chinese oil major“Trading in American depository shares of CNOOC will be suspended at 4 am ET on March 9,” the NYSE said in a statement.It’s the fourth Chinese company to be slapped with such a punishment.The exchange said in January that it would end trading of shares in China Mobile, China Telecom and China Unicom to comply with Trump’s order targeting companies that the previous administration said had links to the Chinese military.CNOOC’s Hong Kong-listed shares dropped 1.1 per cent on Monday.The Big Board’s regulatory arm determined that CNOOC was ‘no longer suitable for listing’ in light of the executive order, which Trump signed in Novembe...
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US Prez signs bill that could remove Chinese stocks from US markets
20Dec By Mike TrudellNo Comments
China, Market, World

US Prez signs bill that could remove Chinese stocks from US markets

United States President Donald Trump has signed a legislation with a potential to kick Chinese companies off of U.S. exchanges unless American regulators can review their financial audits.The measure, which could affect corporate giants like Alibaba Group Holding Ltd. and Baidu Inc., is yet another parting shot at China before Trump leaves office in January.The de-listing law won bipartisan support in the House early this month after clearing the U.S. Senate in May. While it applies to any foreign company, the bill’s sponsors have said their goal was to target China.For years, Chinese firms have used American capital markets and dollar-based finance as a key funding component to grow their businesses. While the measure includes a phase-in period, with penalties kicking in after three strai...
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Chinese embassy in US retweets Trump’s election fraud claim, blames hackers
10Dec By Mike TrudellNo Comments
China, Singapore, World

Chinese embassy in US retweets Trump’s election fraud claim, blames hackers

In a major blunder, the Chinese embassy in the US retweeted President Donald Trump's tweet, in which he accused the Democrats of cheating in the presidential election. However, later the embassy said that its official Twitter account was hacked.Taking to Twitter, Trump wrote, "If somebody cheated in the Election, which the Democrats did, why wouldn't the Election be immediately overturned? How can a Country be run like this?"The post carrying a Twitter warning that the claim of election fraud is "disputed" was retweeted by the official account for the Chinese government's presence in the US.The embassy then tweeted saying: "The Chinese Embassy twitter account was hacked this afternoon and we condemn such an act. For clarification, the Embassy didn’t do any retweeting on Dec.9."This comes d...
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After TikTok, Trump indicates banning Alibaba, other Chinese firms in US
4Sep By Mike TrudellNo Comments
World

After TikTok, Trump indicates banning Alibaba, other Chinese firms in US

Days after signing an executive order against TikTok's parent company, ByteDance, US President Donald Trump has indicated that he was looking to ban other Chinese-owned companies, including e-commerce giant Alibaba in the United States.The development came after Trump issued an executive order on August 14, requiring ByteDance to divest its interests in video-sharing app TikTok's operations in the US within 90 days."There is credible evidence that leads me to believe that ByteDance ... might take action that threatens to impair the national security of the United States," Trump said in the order.The previous order could have forced US-based app stores to stop distributing the TikTok app if ByteDance did not reach a deal to divest from it in 45 days.Under the latest order, ByteDance is expe...
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China’s presence in Arctic poses military threat to West
23Aug By Mike TrudellNo Comments
China, World

China’s presence in Arctic poses military threat to West

Melting ice in Arctic Circle has raised the focus for Donald Trump's administration over the presence of china’s navy and its effort to strengthen its knowledge of the Arctic. According to the 2020 Nordic Report, China has made efforts to lay the necessary diplomatic groundwork to justify future military activities but creation of new sea due to melting ice could offer china’s submarines a clear path which could pose a military threat to the West.US forces commander, Admiral James Foggo, said: "The diminishing ice coverage is causing competition to emerge in this new area”.“The High North is attracting global interest with abundant natural resources and opening maritime routes that have not been navigable before", Admiral Foggo added.Pentagon in its warning also said: "The diminishing ice ...
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Trump signs Hong Kong Autonomy Act, ends city’s preferential trade status
24Jul By Michael SmithNo Comments
USA

Trump signs Hong Kong Autonomy Act, ends city’s preferential trade status

In response to Beijing’s moves against Hong Kong, US President Donald Trump signed an executive order ending the city’s preferential trade treatment, and gave way to a bill that would require sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong’s autonomy."Today, I signed legislation and an Executive Order to hold China accountable for its oppressive actions against the people of Hong Kong," Trump said while addressing the media.Trump said he signed Hong Kong Autonomy Act which will give powerful new tools to hold China responsible. The Act will allow the Trump administration to levy sanctions against foreign individuals and banks for contributing to the erosion of Hong Kong's autonomyThe signing of the Act comes two weeks after imposition of the Hon...
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