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Huawei CFO returns to work after extradition drama

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Meng Wanzhou, CFO of Chinese tech giant Huawei, returned to work at their headquarters in Shenzhen after almost three years fighting extradition to the U.S. in Canada

The CFO was detained in Vancouver in 2018 after a New York court issued an arrest warrant, alleging she tried to cover up attempts by Huawei-backed companies to sell equipment to Iran – in breach of U.S. sanctions.

The years-long extradition drama has been a source of tension between China and the U.S, with Chinese officials signaling the case needed to be dropped to end a diplomatic stalemate.

“Over the last three years, although we have struggled, we have overcome obstacles and our team has fought with more and more courage,” Meng told employees at her welcome celebrations in Shenzhen.

Meng’s return also saw the release of two Canadian men who were arrested in 2018 shortly after her detainment

Meng was allowed to return to China after reaching a deferred agreement with New York prosecutors, which saw her accept “responsibility for her principal role in perpetrating a scheme to defraud a global financial institution.”

The U.S. Justice Department said the agreement pertains only to Meng, and that a case is being prepared against Huawei which will soon proceed to trial.

The two Canadians, businessman Michael Spavor and former diplomat Michael Kovrig, had been held in China for more than 1,000 days, after being accused of espionage.

Canada accused China of employing ‘hostage diplomacy’, by arresting the Canadian citizens as retaliation to Meng’s detainment.

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Oil prices drop amid OPEC+ output increase plans

Oil prices continue to decline amid OPEC+ output hike plans and U.S. sanctions on Russian oil companies

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Oil prices continue to decline amid OPEC+ output hike plans and U.S. sanctions on Russian oil companies

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In Short:
– Oil prices declined for three days due to OPEC+ production plans and U.S. sanctions on Russia.
– Eight OPEC+ nations may approve a 137,000 barrels per day output increase for December.
Oil prices fell for the third consecutive day as traders assessed OPEC+ plans to increase production amid pressures from U.S. sanctions on Russia and optimism regarding U.S.-China trade talks.Brent crude futures dropped to $65.43 per barrel, down 0.28%, while West Texas Intermediate crude fell to $61.25 per barrel, a decline of 0.10%.

Market concerns about potential oversupply are influencing this sustained weakness as OPEC+ prepares for another production increase.

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Eight OPEC+ nations are reportedly leaning towards approving a modest output increase of around 137,000 barrels per day for December. The decision, driven by Saudi Arabia’s desire to regain market share, reflects ongoing efforts to adjust production after years of cuts to support prices.

Since April, OPEC+ has raised production targets by over 2.7 million barrels per day, nearly halving the previous cumulative cuts agreed upon.

Industry analysts note that additional supply from OPEC+ has contributed to a five-month low in oil prices due to concerns about a developing glut.

Market Uncertainty

The oil market faces ongoing uncertainty from U.S. sanctions placed on Russia’s largest oil companies, Rosneft and Lukoil. These sanctions aim to increase pressure on Russia’s energy sector, further complicating the market situation.

Major oil buyers, including state-owned Chinese companies, have started suspending Russian oil purchases, indicating potential disruptions to the market.


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Marketers struggle to find right creative partners

80% of marketers pitch agencies, but finding the right creative partner is increasingly challenging; AI may offer solutions.

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80% of marketers pitch agencies, but finding the right creative partner is increasingly challenging; AI may offer solutions.


A new report reveals that while 80% of marketers now run their own agency pitches, many admit the search for the perfect creative partner is tougher than ever.

Darren Woolley from TrinityP3 explains what’s driving the shift and how AI could help.

#Marketing #Advertising #Agencies #BrandStrategy #AI #TrinityP3 #CreativeIndustry #DarrenWoolley #Pitching #Media #Business


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Trump royally welcomed to Japan

Trump’s Asia tour launches in Japan with investment pledges, heading to South Korea for a trade truce with China.

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Trump’s Asia tour launches in Japan with investment pledges, heading to South Korea for a trade truce with China.


President Trump’s Asia tour begins with a warm welcome in Japan and major investment pledges, as he heads to South Korea aiming to secure a trade war truce with China.

#Trump #Asia #Japan #SouthKorea #China #Trade #XiJinping #Diplomacy #WhiteHouse #USPolitics #GlobalTrade


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