financetom
Business
financetom
/
Business
/
Market Chatter: Republican Lawmakers Criticize Biden Administration After Huawei Unveils Laptop Powered by Intel Chip
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Market Chatter: Republican Lawmakers Criticize Biden Administration After Huawei Unveils Laptop Powered by Intel Chip
Apr 15, 2024 5:38 AM

08:16 AM EDT, 04/15/2024 (MT Newswires) -- Republican US lawmakers criticized the Biden administration after Huawei unveiled its MateBook X Pro laptop powered by Intel's ( INTC ) Core Ultra 9 processor, Reuters reported late on Friday.

This raised concerns that the Commerce Department had approved chip shipments to Huawei, a Chinese telecoms equipment giant that has been on a trade restriction list since 2019 for violating Iran sanctions.

The Trump administration granted Intel ( INTC ) a license under which the company has been shipping processors to Huawei for laptops since 2020, the report said. While some China hardliners wanted the Biden administration to revoke it, some accepted it believing the license would not be renewed later this year, it added.

The chips were shipped to Huawei under a preexisting license, a source familiar with the matter told Reuters.

The Commerce Department, Intel ( INTC ) and Huawei did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
FOCUS-Amazon's grocery ambitions stumble in Britain
FOCUS-Amazon's grocery ambitions stumble in Britain
Sep 25, 2025
* Amazon ( AMZN ) opened first store outside US in UK in 2021 * Said this week it would close all Amazon Fresh stores in UK * To focus on online delivery By James Davey LONDON, Sept 25 (Reuters) - When Amazon opened its first grocery store outside the United States in 2021, its choice of a site in...
StoneX Financial Forms Correspondent Banking Partnership With Hana Bank's London Branch
StoneX Financial Forms Correspondent Banking Partnership With Hana Bank's London Branch
Sep 25, 2025
08:13 AM EDT, 09/25/2025 (MT Newswires) -- StoneX ( SNEX ) said Thursday its London-based subsidiary's payments division entered into a correspondent banking partnership with Hana Bank's London branch. The company said the partnership will boost its division's ability to settle South Korean won transactions into South Korea and strengthen Hana Bank's ability to provide foreign exchange and remittance services...
Brookfield Business Partners to Merge With Brookfield Business Corporation into Single Public Entity
Brookfield Business Partners to Merge With Brookfield Business Corporation into Single Public Entity
Sep 25, 2025
08:13 AM EDT, 09/25/2025 (MT Newswires) -- Brookfield Business Partners ( BBU ) said Thursday that it has approved plans to simplify its corporate structure by merging Brookfield Business Partners LP ( BBU ) and Brookfield Business Corporation ( BBUC ) into a single publicly traded Canadian corporation called BBU Inc. The company said Brookfield Business Corporation ( BBUC )...
Armlogi posts $15.3 mln loss for fiscal year
Armlogi posts $15.3 mln loss for fiscal year
Sep 25, 2025
Overview * Armlogi's ( BTOC ) fiscal year 2025 revenue rises 14% to $190.4 mln, driven by logistics demand * Logistics services provider reports net loss of $15.3 mln, compared to net income last year * Gross profit turns to loss due to higher carrier costs and warehouse expenses Outlook * Company focuses on operational optimization and technology-driven efficiency *...
Copyright 2023-2026 - www.financetom.com All Rights Reserved