Items tagged with president trump
It looks as though ZTE will live to see another day. After facing a near-certain death earlier this year when Commerce Secretary Wilbur Ross imposed crippling sanctions on the company for violating an agreement with the U.S. government, a deal brokered in part by President Donald Trump has saved the Chinese company. As part of the new agreement, which was signed off [again] by Secretary Ross, ZTE has been given 30 days to replace its entire board of directors and senior leadership. It also has to pay a $1 billion fine and hold another $400 million in escrow. These hefty monetary...
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It appears that the United States is backtracking on its decision to pummel Chinese electronics company ZTE into submission. In a tweet over the weekend, President Donald Trump revealed that he is working with Chinese President Xi Jinping to give ZTE some assistance in regaining the ability to purchase components from U.S. manufacturers. In his tweet, Trump specifically calls attention to the fact that many jobs in China will be lost and that the company should have the ability to restart its operations as soon as possible. On the first front, ZTE employees around 70,000 people, mostly in...
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Much to the delight of some and dismay of others, US President Donald Trump maintains an active presence on Twitter—nary a days goes by that he does not post several tweets, which can range from praising his administration and policies, to blasting the media with accusations of fake news. But for a brief period yesterday evening, the President found himself without access to his favorite social media platform after his account had been deactivated by Twitter. His account vanished from the Twitterverse at around 6:45 PM Thursday. Visitors to his page saw a message stating, "Sorry, that pages doesn't...
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President Donald Trump has been spearheading a special council that puts some of the best executives in the country in one place with the hope of improving manufacturing in the US. Intel CEO Brian Krzanich has announced via a blog post that he has abandoned the council. Krzanich wrote, "Earlier today, I tendered my resignation from the American Manufacturing Council. I resigned to call attention to the serious harm our divided political climate is causing to critical issues, including the serious need to address the decline of American manufacturing. Politics and political agendas have sidelined...
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What is a company to do when it is sitting on a $256 billion pile of cash? If you’re Apple, you peel away a tiny sliver of that money to reinvest in the United States. That’s coming straight from the horse’s mouth, or in this case, Apple CEO Tim Cook. In an interview this week with CNBC’s Jim Cramer, Cook explained that Apple would set aside the $1 billion for an advanced manufacturing fund. “It's $1 billion of our US money, which we have to borrow to get. That's another whole topic.” Cook’s off-hand comment refers to the fact that most of Apple’s cash pile is held overseas, and the company...
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