U.S., China nearing deal to remove U.S. sales ban against ZTE: sources

Washington and Beijing are nearing a deal that would remove an existing U.S. order banning American companies from supplying Chinese telecommunications equipment maker ZTE Corp, two people briefed on the talks told Reuters.
The people, who declined to be identified because negotiations are confidential, said the deal could include China removing tariffs on imported U.S. agricultural products, as well as buying more American farm goods.

ZTE, hit by a seven-year ban in April which effectively crippled its operations, would gain a reprieve after the world’s two largest economies stepped back from the brink of a full-blown trade war following talks last week.

The company did not immediately reply to requests for comment.

White House advisors have said previously the ban against ZTE is being reexamined, and that the firm would still face “harsh” punishment, including enforced changes of management and at board level.

One person told Reuters there was a “handshake deal” on ZTE between U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He during talks in Washington last week that would remove the ban in exchange for the purchase of more U.S. agricultural products.

The second person said China may also eliminate tariffs on U.S. agriculture products it assessed in response to U.S. steel duties, and that ZTE could still be forced to replace its leadership, among other penalties.


Both sources said the deal, while not yet cemented, was likely to be finalised before or during a planned trip by U.S. Commerce Secretary Wilbur Ross to Beijing next week to help reach a broader trade pact to avert a trade war.

The company, publicly traded but whose largest shareholder is a Chinese state-owned enterprise, had been hit with penalties for breaking a 2017 agreement after it was caught illegally shipping U.S. goods to Iran and North Korea, in an investigation dating to the Obama administration.

Shares in Chinese telecommunications gear firms jumped on the news, first reported by the Wall Street Journal.

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“UNCHARTED WATERS”
The sources said that while U.S. companies that sold products to ZTE would be relieved if a deal was reached, some in the U.S. government as well as the business community have said they opposed what they saw as a clear-cut legal case being used as a bargaining chip in the broader trade conflict.

American companies provide an estimated 25 percent to 30 percent of components in ZTE’s equipment, which includes smartphones and gear to build telecommunications networks.

Earlier in May, Trump signaled a stunning reversal on ZTE when he said on Twitter that he would help the company get “back into business, fast”, saying the ban would cost too many jobs in China.

Chinese officials had made the issue a key focus of their demands during negotiations in Beijing earlier in May, threatening to halt talks on broader bilateral trade disputes unless Washington agreed to ease the sanctions, according to sources at the time.

Chinese officials had viewed the U.S. punishment, which prompted the country’s second-largest maker of telecommunications equipment to suspend its main operations, as an attack that exposed China’s dependence on imports of key technologies.

China’s Ministry of Commerce did not respond immediately to a faxed request for comment.

Many experts have said the case will push Beijing to double down on state support for strategic industries, an issue that remains at the heart of U.S.-China trade friction.

“The release of hostage ZTE will be the start of China and the U.S. to implement their trade agreements,” Hu Xijin, editor in chief of Chinese state-backed Global Times tabloid, said on his Twitter account after news of the deal was reported.

Washington and Beijing both claimed victory in trade talks on Monday as the world’s two largest economies stepped back from a global trade war and agreed to hold further talks to boost U.S. exports to China.

Over the weekend, the two sides pledged to keep talking about how China could import more energy and agricultural commodities from the United States so as to narrow the $335 billion annual U.S. goods and services trade deficit with China, although details and a firm timeline were thin.

Trump signs congressional resolution overturning auto lending rule

U.S. President Donald Trump signed into a law a congressional resolution overhauling a rule issued by the Consumer Financial Protection Bureau (CFPB) that aimed to bar discrimination in auto lending, the White House said on Monday.

The joint resolution, which was passed by the Senate and the House of Representatives, is the latest attempt to chip away the watchdog agency’s oversight powers.

The CFPB said the resolution also prevented the agency from enacting a “substantially similar” rule unless it was specifically allowed to do so by lawmakers.

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The Latest: Trump congratulates Mahathir after historic win

A man takes a copy of a newspaper with the headline reporting Mahathir Mohamad’s sworn-in as Malaysia’s new prime minister at a convenience shop in Kuala Lumpur, Malaysia, Friday, May 11, 2018. Malaysia’s former authoritarian leader Mahathir was sworn in as prime minister on Thursday, cementing a stunning political comeback and a historic change in government after leading opposition parties to their first election victory in six decades. (Andy Wong/Associated Press)


KUALA LUMPUR, Malaysia — The Latest on Malaysia’s election (all times local):

10 a.m.

President Donald Trump has congratulated Mahathir Mohamad on having been sworn in as Malaysia’s prime minister.

Mahathir led an opposition alliance to a historic victory in Wednesday’s election, ending the 60-year rule of the National Front. After a day of uncertainty and rumors the ruling party would try to remain in power, Mahathir was sworn in at a ceremony before Malaysia’s king late Thursday.

Trump also congratulated all Malaysians on a peaceful and competitive campaign.

The statement issued by the White House press secretary late Thursday said the U.S. looked forward to working closely with Malaysia to strengthen ties.

___

7: 40 a.m.

Australia has congratulated Mahathir Mohamad on his election victory and anticipates a strengthening bilateral relationship.


Mahathir was a vocal critic of Australia when he was last in power and the two countries have since become free trading partners.

Australian Prime Minister Malcolm Turnbull and Foreign Minister Julie Bishop say in a joint statement that Australia and Malaysia have a rich, broad and deep contemporary relationship, full of potential, and underpinned by shared interests and values.

They say their government looks forward to continuing to work with Malaysia to further strengthen the partnership and friendship between the two countries and peoples.

___

10 p.m.

Mahathir Mohamad has been sworn in as Malaysia’s 7th prime minister in a ceremony before the Southeast Asian country’s king after leading opposition parties to a historic election victory.

The ceremony at the official state palace in Kuala Lumpur ended a day of uncertainty during which rumors swirled that the National Front, Malaysia’s ruling party for 60 years, would try to stay in power.


People outside the palace cheered and waved opposition flags.

Mahathir was Malaysia’s prime minister for 22 years until 2003. He returned to politics to oust his former protege Najib Razak, who was tarnished by allegations of massive theft from a state investment fund.

___

9 p.m.

The controller of Malaysia’s royal household says the king has invited Mahathir Mohamad to form the next government after receiving official election results and will swear him in as prime minister.

The ceremony is scheduled for 9.30 p.m.

The statement said Malaysia’s monarch, Sultan Muhammad, “strongly refutes” any allegation that he delayed the appointment of Mahathir.

Mahathir, prime minister for 22 years until 2003, led opposition parties to an unexpected victory in the election, ending the National Front’s 60 year rule.


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___

7:15 p.m.

Pro-democracy activists in Thailand, which has been under military rule since 2014 and where an election is expected early next year, say Malaysia’s election advanced democracy, but its political system remains flawed.

“It was an intensely fought election and the most democratic one in Malaysia’s history,” Jaran Ditapichai, a human rights activist who was a leader of the 2010 “Red Shirt” uprising quashed by Thailand’s army, said on his Facebook page.

Opposition parties led by former authoritarian leader Mahathir Mohamad won Wednesday’s Malaysian election.

Jaran, who lives in exile in Europe, said the Malaysian upper class, like Thailand’s, has right-leaning attitudes “which are obstacles to democratic systems.”

Former Thai Prime Minister Thaksin Shinawatra, whose ouster by a military coup in 2006 launched a sometimes violent battle for power between his “Red Shirt” supporters and royalist “Yellow Shirts,” congratulated Mahathir on his “spectacular comeback.”


“The power of the people has spoken loud and clear that they do not only remember his outstanding legacy but needed his leadership,” wrote Thaksin, who is in self-imposed exile to avoid a prison term on a conflict of interest conviction he says is politically inspired.

___

5:45 p.m.

Malaysian national police chief Mohamad Fuzi Harun says security in the country is under control and police will ensure a smooth transition of power following the opposition’s election victory.

He called for the new government to be installed as soon as possible and promised to give it the police’s full cooperation.

Mohamad Fuzi said Thursday the previous day’s election was largely peaceful except for some scuffles between supporters of opposing political camps.

He said police used a water cannon in the administrative capital, Putrajaya, early Thursday to disperse a group of opposition supporters setting off fireworks to celebrate the election victory.

___

1:30 p.m.

The election victory of opposition parties led by Malaysia’s former authoritarian leader Mahathir Mohamad has raised uncertainty for the economy and for big projects linked to China’s regional infrastructure initiative.

Analysts said Thursday that Mahathir’s strong track record in handling the Asian financial crisis of two decades ago could prevail in the long run.

Malaysia’s currency, the ringgit, fell soon after the results were known. The impact on local share markets won’t be seen until they reopen on Monday.

The opposition coalition tapped into public anger over a corruption scandal and over a new tax to end the National Front’s 60-year hold on power.

The country remains heavily dependent on exports of both commodities and manufactured goods but the World Bank says its economic outlook is “favorable.”

___

1 p.m.

Mahathir Mohamad says the opposition parties who won a shock victory in Malaysia’s elections have a clear mandate to form a new government and he expects to be sworn in as prime minister on Thursday.

He disputed outgoing premier Najib Razak’s assertion that the king must appoint the new prime minister because no single party has a parliamentary majority. The constitution, he said, only specifies that the prime minister must represent those with a majority in the legislature.

In a lively news conference, the 92-year-old Mahathir flagged sweeping changes for Malaysia.

He vowed to cancel an unpopular goods and service tax imposed since 2015 and criticized a recently introduced “fake news” law. The government could also renegotiate the terms of Chinese loans for infrastructure projects.

Mahathir said the new government would seek the release and full pardon of Anwar Ibrahim, an opposition icon imprisoned on sodomy charges that Anwar and his supporters said were fabricated by the National Front to crush the opposition.

___

11:30 a.m.

Malaysia’s prime minister Najib Razak, who led the ruling National Front coalition to a historic loss in a national election on Wednesday, has conceded defeat.

At a televised press conference, Najib said, “I and my colleagues accept the verdict of the people.”

He said the National Front “will honor the principle of democracy in the parliament.”

Opposition parties, led by Malaysia’s former authoritarian leader Mahathir Mohamad, tapped into anger over a corruption scandal and a new tax to end the National Front’s 60-year hold on power.

Because no single party won a majority in the election, Najib said the country’s king will have responsibility for appointing the next prime minister.

“The national front will respect whatever decision is made by the king,” he said. “I urge all Malaysians to be calm and to trust the king’s wisdom to make the best choice.”

___

10:45 a.m.

Supporters of Malaysia’s new government have taken to the streets of Kuala Lumpur to celebrate their unexpected election victory.

People stood on roadsides waving the white, blue and red flag of the opposition alliance that triumphed in Wednesday’s national election. Cars honked their horns as they sped past.

“I’m so happy,” said a woman waving the opposition flag. “I hope we’ll have a better Malaysia now. Malaysia reborn!”

Malaysian voters were angered by a corruption scandal involving Prime Minister Najib Razak and new taxes. The opposition victory ends the ruling National Front’s 60-year-old on power,

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

The Latest: Philippine opposition calls judge ouster mockery

A Philippine opposition leader says the ouster of Chief Justice Maria Lourdes Sereno is a mockery of the constitution.

Sen. Francis Pangilinan also says Congress should insist on its exclusive constitutional role to remove key officials like her through impeachment.

Pangilinan, who heads the opposition Liberal Party, says "what the majority in the Supreme Court did was a mockery of the constitution." He says "the people should express to the court that the decision was wrong and unacceptable." He also says Sereno should appeal.

Aside from a government petition to declare Sereno ineligible to lead the Supreme Court over her alleged failure to declare her wealth before she became chief justice, she also faced an impeachment complaint in the House of Representatives. She says she was ready to defend herself if the impeachment case reached the Senate for trial.

But the impeachment process has now been pre-empted by the unprecedented vote Friday to remove her from the Supreme Court, sparking legal confusion over what would happen to the votes she cast on cases in the years she led the country's highest court.

———

1:15 p.m.

Ousted Philippine Chief Justice Maria Lourdes Sereno has emerged from the Supreme Court after her colleagues voted to remove her and is asking hundreds of protesting supporters to organize a movement to defend justice and accountability.

Sereno told the crowd: "Let's continue to defend the constitution and fight wrongdoing. Let's continue to spread the message of democracy and reason."

She says the justices who voted to boot her out of the 15-member tribunal seized "the sole responsibility of the Senate, brazenly violated their sworn responsibility to protect the constitution and destroyed the judiciary."

Sereno has been at loggerheads with President Rodrigo Duterte and has urged Filipinos to stand up to his authoritarian rule. She has been speaking up for the respect of law and human rights, irking Duterte at a time he has led a brutal crackdown on illegal drugs that has left thousands of suspects dead.

The former law professor at the state-run University of the Philippines says the government petition that her fellow justices approved violated the constitution, which provides that top officials like her can only be removed by impeachment.

———

12:05 p.m.

The Philippine Supreme Court spokesman says Chief Justice Maria Lourdes Sereno has been ousted in a vote by fellow judges acting on a government petition, which sought her removal in a move she calls unconstitutional.

Court spokesman Theodore Te says eight of 14 justices voted Friday to remove Sereno from the 15-member tribunal for allegedly failing to file statements of assets and liabilities as required by law. Sereno denies the allegation and did not participate in the vote.

Wholesale MLB Jerseys MLB Jerseys Cheap Baseball Jerseys Cheap MLB Shop Cheap Baseball Jerseys China MLB Jerseys Custom Hundreds of protesters denouncing Sereno's ouster rallied outside the court.

Sereno has been at loggerheads with President Rodrigo Duterte and has urged Filipinos to stand up to his authoritarian rule. She also has been speaking up for the respect of law and human rights, irking Duterte at a time he has led a brutal crackdown on illegal drugs that has left thousands of suspects dead.

Chef Laila Gohar Provides Fructose and Glucose Galore at Vogue’s Pre-Met Gala Party

A Laila Gohar meal is a feast for the eyes, ears, mouth, and nose. For the Vogue Pre-Met Gala Party, hosted by Sally Singer at Little Italy’s Forlini restaurant, the Egyptian chef (though culinary curator might be a more apt identifier) was called upon to interpret a somewhat nebulous inspiration theme: Paolo Sorrentino’s film The Great Beauty. Though Sorrentino’s other work, HBO’s The Young Pope, more closely aligns with the Costume Institute's Heavenly Bodies exhibition, The Great Beauty, set in Rome and rife with raucous party scenes, is a far better jumping off point for, well, a raucous party.

CHEAP AIR JORDANS For this mambo Italiano, #spaghettiandmetballs were served, with Gohar’s decadent delights following. “It was a more is more philosophy,” she explained. On offer were classic Italian dolci and Italian-American staples, “I did a lot of research and cracked open several Italian cookbooks for recipes,” she says.

Evoking a family-style wedding dessert station where the sweet tooth wants for nothing, Gohar displayed cookies in mounds, cheesecakes in tiers, and Jordan almonds by the dozens. An abundance of pandoro cakes (panettone without the fruit), cannolis, and Italian rainbow cake cookies, were also on offer. JORDANS CHINA And like the film’s surreally indulgent visuals, Gohar employed color therapy to shock. “We baked with a lot of red food coloring, which turns the food pink,” she says. For more vibrance, Gohar candied cherries and oranges for a sugar-filled, gluten-free option. There were also fruit platters piled high with pears, pineapples, and more for fructose and glucose, galore.

NIKE EPIC REACT FLYKNIT ID

Beginning May 3, the Nike Epic React Flyknit will be fully customizable via NIKEiD. There’s more: Five run clubs (selected because they each represent what it means to push the boundaries of running and creativity) from around the world also created unique iD builders for React. That means additional one-of-a-kind design features from each crew, including sock liners, heel loops, heel cups and color palettes, are available.

To show the possibilities, each crew designed a shoe that features details that represent their city and what gets them going.

Tokyo’s Athletics Far East run crew’s design palette honors the Tokyo subway map. Koreatown Run Club in Los Angeles created a palette primarily inspired by the Korean flag. Seoul’s Private Road Running Club’s design features the Corinthian helmet logo and gold accents to symbolize the crew’s marathon achievements and victories to come. One Crew from Shanghai used nature-inspired tones that nod to clouds, dawn and the medals they strive for, along with the Chinese symbol for “fly.” Amsterdam streetwear label Patta and London’s Track Mafia partnered up on a triple black version meant to channel the fearless nature of city culture.

The Nike iD essentials builder will go live May 3, while the Crew builders launch May 10 on nike.com.

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Cheap Air Jordans Shoes Retro 2018 | Lowest Price from LOVEAJSHOES.NET

Runners asked for one shoe that could do it all: offer more cushion from the impact of each stride, give them the energy return needed to stay fresh late in a run, feel light underfoot and also be able to withstand wear and tear of impact and elements run after run. Nike innovators, chemists, engineers and designers came together to deliver a solution in the form of a foam, called Nike React.

Air Jordan 11 Low “Cool Grey” Releasing In April

Last month, Sneaker News brought you a first look at the upcoming Air Jordan 11 Low “Cool Grey”, and now the model is back in the news with an official release date. Jordan Brand is taking one of the most popular designs in its history and bringing it back on a low version of the classic. This is not the first time Jordan has done this, as it also took the “Bred” colorway of the same silhouette and placed it on the take-down version. This new Air Jordan 11 Low offering can be had from retailers on April 28th, for $175 USD.

Air Jordan 11 Low
Release Date: April 28th, 2018
$175
Color: Medium Grey/Gunsmoke-White
Style Code: 528895-001