U.S. Revokes Licenses to Export Chips to Huawei, FT Reports
--The Biden administration has revoked licenses that allow tech companies such as Qualcomm and Intel to supply Huawei with chips, the Financial Times reports, citing people familiar with the situation.
--The commerce department confirmed to FT it had revoked certain licenses but didn't say which companies would be affected.
--The revoked export licenses will affect the Chinese telecoms company's supply of chips for laptops and mobile phones, the people said.
--Qualcomm didn't immediately respond to a request for comment from FT, and Intel declined to comment.
Full article at https://www.ft.com/content/cf965960-b083-49ee-bae1-6ce95fe872a3
Write to ben.glickman@wsj.com; @benglickman
(END) Dow Jones Newswires
May 07, 2024 15:55 ET (19:55 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Is It Time to Ditch Your Money Market Fund for Longer-Term Bonds?
-
What’s Happening In the Markets This Week
-
4 Reasons Why Today’s Stock Market Is Delivering Impressive Performance
-
What Does Nvidia’s Stock Split Mean for Investors?
-
5 Undervalued Stocks to Buy as Their Stories Play Out
-
Markets Brief: Return of the Meme Stocks
-
It’s Been a Terrible Time for Bonds. Here’s Why You Should Own Them
-
Which AI Stocks Are Turning Hype Into Revenue?
-
Tesla: Shareholder Vote Reduces Key Person Risk
-
After Earnings, Is CrowdStrike Stock a Buy, a Sell, or Fairly Valued?
-
Adobe’s Strong Quarterly Results Drive Share Gains
-
What Does Broadcom’s Stock Split Mean for Investors?
-
5 Ultracheap Stocks to Buy With the Best Returns on Investment
-
Broadcom Earnings: AI Sales Growth Accelerates
-
Oracle Earnings: IaaS Signings More Than Make Up for Miss
-
This Undervalued Stock Is a Buy After Its Dividend Increase