In this photo taken Sunday, March 8, 2020, a woman wearing a mask against COVID-19 stands near an advertisement for Huawei mobile phones in Beijing. (AP Photo/Ng Han Guan)
The U.S. government is imposing new restrictions on Chinese tech giant Huawei by limiting its ability to use American technology to build its semiconductors.
The Commerce Department said Friday the move aims to cut off Huawei's undermining of existing U.S. sanctions.
The new restriction is separate from an ongoing Trump administration reprieve on U.S. technology sales to Huawei. The U.S. government blacklisted the Chinese tech company a year ago, deeming it a national security risk, but the limited reprieve allows wireless companies to keep offering service in remote parts of the U.S.
The Commerce Department said this week that reprieve is being extended for another 90 days.
But numerous loopholes have been exploited, especially as U.S. companies continued to supply Huawei with chips made outside the United States. The Commerce Department said the new restriction will “narrowly and strategically" target Huawei’s acquisition of semiconductors built in overseas foundries but using U.S. software and technology.
Top executives at Silicon Valley Bank and Signature Bank largely avoided taking responsibility for their banks’ dramatic failures at a Senate hearing Tuesday.
The head of the artificial intelligence company that makes ChatGPT will testify before Congress as lawmakers call for new rules to guide the rapid development of AI technology.
The recent failures of a trio of midsize banks has once again raised questions about whether senior executives in the U.S. are being rewarded more for short-term gains — like rising stock prices — than for ensuring their companies' long-term health.
3M has fired prominent company executive Michael Vale due to “inappropriate personal conduct and violation of company policy,” the maker of Post-it notes, industrial coatings and ceramics announced on Monday.
Cheddar News attended the upfront presentation by NBC Universal and broke down how this year's event was different from previous years due to the ongoing writers' strike.
