SMIC, China’s largest chipmaker, plunges 23% after U.S. says it could blacklist the firm

A close up image of a CPU socket and motherboard laying on the table.   GUANGZHOU, China — Shares of Semiconductor Manufacturing International Corp (SMIC), China’s biggest contract chipmaker, plunged over 23% on Monday, after the U.S. government said it was considering putting export restrictions on the company. The firm’s Hong Kong-listed shares were down 23.89% at 18 Hong Kong dollars as of 3:24 p.m. local time. SMIC’s recently-listed Shanghai shares were down 11.29% at 58.8 yuan. The U.S. Department of …

China lands its first reusable spacecraft as state media hails it as an ‘important breakthrough’

China’s Long March-2F carrier rocket during a 2016 launch.   GUANGZHOU, China — China has successfully launched and landed an experimental reusable spacecraft, according to the state-run Xinhua news agency which lauded the achievement as an “important breakthrough.” The spacecraft was launched on a Long March-2F rocket from the Jiuquan launch center located in Inner Mongolia on Friday. It spent two days in orbit and and returned to the scheduled landing site on Sunday, Xinhua said. There are very few details on the …

Mark Zuckerberg Says Facebook’s Decision to Not Take Down Kenosha Militia Page Was a Mistake

In a video posted to Facebook on Friday, Facebook chief executive Mark Zuckerberg said that the social media giant made a mistake by not removing a page and event that urged people in Kenosha, Wis., to carry weapons amid protests. On Tuesday night, a 17-year-old named Kyle Rittenhouse allegedly fatally shot two people and injured a third. Zuckerberg admitted that “a bunch of people” had reported the page and said the decision to not remove it was “largely an operational …

China tightens tech export controls potentially jeopardizing TikTok deal, reports say

The TikTok app icon sits displayed on a smartphone in front the national flags of China and the U.S. in this arranged photograph in London, U.K., on Monday, Aug. 3, 2020. Hollie Adams | Bloomberg | Getty Images An updated export rule from China could jeopardize the sale of TikTok’s  U.S. operations, according to reports published Saturday in The Wall Street Journal and The New York Times.  According to the reports, China updated its export control rules to incorporate technology that could include TikTok, a claim …

Blanked-Out Spots On China’s Maps Helped Us Uncover Xinjiang’s Camps

Read Part 1 of this investigation here. Read Part 2 here. This project was supported by the Open Technology Fund, the Pulitzer Center, and the Eyebeam Center for the Future of Journalism. In the summer of 2018, as it became even harder for journalists to work effectively in Xinjiang, a far-western region of China, we started to look at how we could use satellite imagery to investigate the camps where Uighurs and other Muslim minorities were being detained. At the …

Walmart is teaming up with Microsoft on TikTok bid

Walmart said it’s teaming up with Microsoft in a bid for TikTok. The retail giant confirmed to CNBC that it’s interested in buying the popular short-form video application. Walmart shares are up 5% on the news. TikTok’s Beijing-based parent company, ByteDance, is nearing an agreement to sell its U.S., Canadian, Australian and New Zealand operations in a deal that’s likely to be in the $20 billion to $30 billion range, sources say. It has not yet chosen a buyer, but could announce …

Department Of Justice Seizes Bitcoin, Websites From Terror Groups

In an image released by the Department of Justice, a group solicits funds for weapons by asking for bitcoin. The Trump administration says al-Qaida and affiliated groups have used such donations to fund terrorism. In an image released by the Department of Justice, a group solicits funds for weapons by asking for bitcoin. The Trump administration says al-Qaida and affiliated groups have used such donations to fund terrorism.   The Justice Department has seized millions of dollars’ worth of cryptocurrency …

Hong Kong lawmaker says, “I don’t know how I can protect myself”

Pro-democracy lawmaker Tanya Chan answers the questions from media outside Hong Kong’s High Court on October 31, 2019. Hong Kongers are deleting social media posts and making plans to emigrate because of China’s new “national security” law that came into effect earlier this month, one prominent pro-democracy lawmaker told CBS News. The law, which came into force on July 1, outlaws a variety of vaguely defined offenses like “sedition,” which can be tried in mainland Chinese courts and carry sentences of life …

Microsoft buying TikTok could lead to problems monitoring social media content

Microsoft CEO Satya Nadella leaves the Elysee Palace after a meeting with the French President Emmanuel Macron in Paris on May 23, 2018. Aurelien Morissard | IP3 | Getty Images If Microsoft were to complete an acquisition of TikTok, it would gain a company with much potential for advertising revenue growth. But with such a purchase, Microsoft would also take on an entirely new slate of problems.  Microsoft announced on Aug. 2 that it was in talks to purchase TikTok’s …

Judge grants preliminary injunction requiring Uber and Lyft to stop classifying drivers as contractors

A California judge granted a preliminary injunction Monday requiring Uber and Lyft to stop classifying their drivers as independent contractors pending further action by the court. The order will take effect after 10 days, as the companies requested a brief stay during the appeals process. If upheld, the ruling could have serious implications for Uber and Lyft, both of which are not yet profitable and have seen their ride-hailing businesses suffer during the pandemic. By classifying their drivers as independent workers, rather …