New China Sanctions on US Companies

and thank you very much for joining me here today I'm Don M to start off some China related stories Tik Tock owner bite dance said on Tuesday it's in talks with multiple prospective buyers of its gaming assets and this is including the world's largest video game company tensent as the Chinese social media firm Retreats from the gaming industry here's the report bite dance is in talks to sell its gaming assets the Tik Tok owner said Tuesday it's speaking with a number of potential buyers including the world's largest video games company tens Cent a bite Dan spokesperson said talks are ongoing but no deal has yet been reached local Chinese media reported bite Dan is in discussions with tens Cent about a deal involving multiple popular video games 10cent did not immediately respond to a Roy's request for comment in November bite dance said it would overhaul its new verse gaming unit the Chinese social media media giant further said it would pull away from its gaming business to focus on other core businesses it comes just 5 years after it began its move into the $185 billion Global video games Market bite Dan's relationship with tenent has warmed after a harsh period of competition in gaming reuter reported last month tensent made heavy use of bite dances advertising Network to promote its latest game dreamstar meanwhile apple is feeling the pressure from competitors it seems like as analysts report a double digigit drop in iPhone sales in the first week of the year and this is despite aggressive discounts on multiple iPhone models according to Jeffrey analysts it found 30% of sales falling this is based on its own Market tracking and comparing this to last year in China when the tech giant saw a 3% decline year-over-year jeffy's analysts are pointing to pressure from Chinese Rivals for the dip especially from Huawei who launched its mate 60 series last year this is considered huawei's comeback to the high-end smartphone market after us sanctions has hampered its progress for years meanwhile us chipmaker Nvidia plans to begin mass production in the second quarter of 2024 of an artificial intelligence chip it designed specifically for China to comply with us export rules this is according to two people familiar with matter on Monday here's more the H20 chip is the most powerful of three China Focus chips Nvidia developed to meet restrictions announced in October it was first scheduled to launch last November but the plan was delayed sources told Reuters at the time the holdup was down to issues server manufacturers had integrating the chip Nvidia declined to comment Rey has previously reported that Chinese companies were reluctant to buy the downgraded H20 and they're testing domestic Alternatives because of a fear the us could tighten restrictions again last year reuter's reported search engine leader BYU ordered AI chips from quwei in a shift away from Nvidia in addition to the H20 Nvidia plans two other chips that comply with the new restrictions the l20 and L2 the chipmaker has yet to announce the sale of any of the three China has announced sanctions against five American defense related companies this is in response to the US selling arms to taian as well as us sanctions on Chinese companies and individuals now the sanctions freeze any property the companies have in China and prevent any business being done with them the companies being sanctioned include BAE Systems land and armaments Alliant Tech Systems Operations among three others the Chinese foreign Ministry said that the moves made by the US harm China's sovereignty and security interest the US said the sale would support the modernization of taiwan's armed forces and the maintenance of a credible defense a South Korean company has struck one of its largest deals to sell its americanmade solar panels to Microsoft Q cells has announced that it will supply Microsoft with 12 gaws of panels for the next eight years the panels will be made at cell's new multi-billion dollar Factory in Georgia for Microsoft the company has been looking for a reliable solar panel provider to reach his goal of operating on 100% renewable energy by next year and for a q cell the deal will help it compete against China by establishing a Solar Supply Chain in the US and Boeing's latest 737 Max crisis deepened after United Airlines and Alaska Airlines said they had found loose Parts on multiple grounded max9 aircraft raising new concerns among industry experts about how its bestselling jet family is manufactured here's more Boeing faces deeper trouble over its 737 Max jet us Watchdogs have already grounded 171 of the planes after a panel blew off an Alaska Airlines flight last week Pilots were able to land the crippled aircraft without serious injuries but now United Airlines says it has found loose Parts on some of its own 737 Max NES the carrier says it found bolts that needed tightening on several panels reuter sources say United has so far found close to 10 aircraft affected by the problem late Monday Alaskan said it too had found what it called loose Hardware the news will raise fresh concerns over how Boeing's bestselling model is manufactured National Transportation safety board chair Jennifer homendy said Monday that the cause of the blowout remained unclear we need to first and foremost figure out what happened here on this aircraft if we have a bigger systemwide or Fleet issue we will issue an urgent safety recommendation to uh uh push for change Max Jets were previously grounded for 20 months following two fatal crashes that killed 346 people those accidents were traced to a design floor that has since been fixed now Aviation experts say the new problems raise real questions over quality control at Boeing and supplier spirit AO systems which makes the panels however the part that blew off is only fitted to specific variants of the max United and Alaska Airlines are the biggest operators of the affected type other carriers to ground planes include Turkish Airlines and AO Mexico and Boeing shares fell nearly 7% in US trading midday Monday following their temporary grounding of some of its best selling 737 Max Jets by the US Aviation regulator here's a look shares of Boeing fell 7% in midday trading Monday though were down more earlier following the temporary grounding of some of the company's best-selling 737 Max Jets by the US Aviation regulator this came after an accident Friday where a cabin panel ripped off an Alaska Airlines jet while in midair shortly after takeoff forcing Pilots to return to the airport in Portland Oregon where the flight originated the plane with 100 71 passengers and six crew on board landed safely shares of the airline fell in morning trading but were near break even by midday while those of spirit Aros systems which makes the plane part in question were 8% lower at lunchtime which was better than their performance at the opening bell the 60 lb part of the fuselage that came off covers an optional exit door it was recovered on Sunday by a Portland school teacher who found it in his backyard US national National Transportation safety board chair Jennifer hamy said the piece will be thoroughly inspected she said though investigators won't have the recording of the communication of pilots from the cockpit voice recorder or CVR to review currently regulations only require that device to record the last 2 hours of communication and it was too late when it was recovered renewing attention on an industry call for longer inflight recordings there was a lot going on on the flight deck and on the plane it's a very chaotic event uh the circuit breaker for the CVR was not pulled uh the maintenance team went out to get it uh but it was right at about the 2hour mark and it was completely overwritten at two hours it writes it re-records over it so we have nothing from the CVR this incident is just the latest in a series of problems Boeing has had with its Max Jets crashes in 2018 18 and 2019 killed nearly 350 people and led to the Max's worldwide grounding for 20 months in this instance Boeing confirmed Monday it had already taken steps to get the grounded planes back in the air it has shared instructions with Airlines about inspecting the grounded Fleet which is a key requirement of regulators before the planes can resume service now the US Federal Reserve may have a conservative outlook on rate Cuts but optimistic investors are predicting more cuts on an accelerated timeline next year some Wall Street investors think there could be as many as six Cuts starting in March fed officials have only penciled in three optimistic investors are noting points made by officials during their December policy meeting in the minutes officials saw that the risk of inflation could stall or reignite has diminished and noted that a downside risk to the economy with an over ly restrictive stance but the central bank is leaving the possibility of another rate increase on the table and they say there is still a lot of uncertainty over whether inflation will actually continue to drift down to its 2% Target and Eli Lily has launched the first of its kind website to offer people direct access to popular weight loss drugs like mongero and zip bound Lily direct is a new direct to Patient prescription and delivery model and it aim to simplify and streamline access to weight loss treatment through the platform patients can choose from a directory of telea Health Providers and together the provider and the patient will determine the best treatment once prescribed medications can be directly delivered to homes through Affiliated Pharmacy Services the service is open to people who fall in the Obesity range which is a body mass index of at least 30 now with all the recent reports of employers demanding workers return to the office you think it's happening everywhere though not according to Moody's Analytics the company's new report shows there's now more empty office than at any time since 1979 it's because more people are working from home and that's the trend that appears to be growing the office vacancy rate Rose to 19.6% in the last quarter it makes the largest quarterly increase since the height of the pandemic in the first quarter of 2021 the only bright spot is in class A office space which accounts for the newest and most modern buildings office space in the suburbs is also doing better than in cities Moody says that it's likely because they offer easier commutes for workers and top us Congressional leaders agreed on$ 1.6 trillion dollar in Topline Federal spending for a fiscal year 2024 in a deal aimed at averting a partial government shutdown later this month US House of Representatives speaker Mike Johnson said here are the details top us Congressional leaders on Sunday agreed to a $1.59 trillion spending deal for fiscal year 2024 that deal is meant to avoid a partial government shutdown later this month in a statement Republican house Speaker Mike Johnson said the Topline figure includes 886 billion for defense and another $74 billion for non-defense spending however Democratic Senate Majority Leader Chuck Schumer in a separate statement said the non-defense spending figure would be higher closer to $772 billion the defense portion had already been signed into law by President Joe Biden last month and according to Schumer and house Democratic leader hakee Jeff the non-defense discretionary funding will quote protect key domestic priorities like veterans benefits health care and nutrition assistance the move comes as Congress was scheduled to return to Washington this week to tackle deadlines coming up on January 19th and February 2nd for settling government spending through September Biden said on Sunday the deal moved the country One Step Closer to quote preventing a needless government shutdown and protecting important National priorities but a more difficult task is still to come the Republican controlled house and Democratic controlled Senate still have to agree on exactly where the funds will go an open AI is pushing back against the New York Times lawsuit alleging the artificial intelligence service violated copyright laws by using times journalism to train the systems in a blog post Monday open AI said the suit is without Merit the New York Times sued open aai and its business partner and investor Microsoft for a copyright infringement last month the times alleged their AI Technologies illegally copied millions of times articles to train chance GPT and other services to provide people with instant access to information it claims those Services now compete with the times open AI reiterated Monday it's claimed that training AI systems with what they called publicly available internet materials is covered by fair use protections under copyright law historical drama Oppenheimer and media Dynasty drama succession dominate The Golden Globe awards on Sunday as Hollywood threw its biggest party since labor disputes shut down much of its Show Business last year here's the report the Golden Globes kicked off this year's Hollywood award season in style on Sunday and also marked entertainment's biggest party since the six months of strikes by actors and writers that shut down the industry for much of last year Oppenheimer won big for film taking home the top prize for drama and four others including the coveted best drama actor prize for Killian Murphy and another for best director Christopher Nolan's first at the Globes I can only accept this on behalf of of people as directors we we bring people together and we try and get them to give us their best poor things meanwhile poor things starring Emma Stone beat out Smash Hit Barbie for best movie musical or comedy Stone was also named best actress in a musical or comedy for her portrayal of Bella Baxter who embarks on a dramatic Voyage of self-discovery and Liberation on the TV side media Dynasty drama succession andromed the bear and beef fared especially well succession depicts the power struggle among members of the wealthy backstabbing Roy family for its fourth and final season the HBO show broke the record for most Golden Globe TV Award nominations and took home the best drama win Su as well as three for members Jeremy Allen White received his second Golden Globe for his role as head chef KY in the bear I can't believe uh I'm in this room with with all these uh all these people I've Loved uh so much admired so much um for so long it's uh it's unreal um um I love this show Netflix comedy drama beef won best television limited series and leads Ali Wong and Steven Yun brought home best female and male actor in that category they were the first first Globe wins for both actors and a nod to an Asian Le series Sunday was the first instance of the Globes under new organization after an ethics and diversity Scandal led the 2022 ceremony to be scrapped and reforms were made to its voting structure as part of the new effort Sunday's winners were decided by a comparatively racially diverse block of roughly 300 entertainment journalists from 75 countries around the world and thank you for watching in TD business that's all the stories for today see you next time