Latest news with #China-owned
Time of India
01-07-2025
- Business
- Time of India
US lawmakers raise alarm over data collection by OnePlus without users' permission: Report
Image for representation purpose Two U.S. lawmakers have asked the US Commerce Department to investigate Chinese smartphone maker OnePlus over alleged security concerns. According to a Reuters report, representatives John Moolenaar and Raja Krishnamoorthi sent a letter to the department raising concerns that OnePlus devices may be collecting sensitive user data without consent and sending it to China-owned servers. The letter claims that OnePlus smartphones may be gathering personal data, including "transfers of sensitive personal information and screenshots," without users' explicit permission. The lawmakers wrote, 'This investigation would determine the types of information being collected by OnePlus devices.' They cited a commercial analysis that reportedly found the data collection patterns and flagged them as potentially unsafe. The information, according to the lawmakers, 'indicates' that OnePlus may be sending this data to servers owned by entities in China. This isn't the first time the US government has raised red flags over Chinese tech companies. In 2020, Huawei faced federal charges including racketeering and intellectual property theft. The company received temporary relief from U.S. trade bans but continued to face scrutiny under national security laws. The TikTok controversy in 2022 followed a similar path, with officials accusing the app of sharing sensitive user data with its Chinese parent company, ByteDance. At the time, U.S. FCC Commissioner Brendan Carr stated, 'It harvests swaths of sensitive data that new reports show is being accessed in Beijing.' The call to investigate OnePlus echoes ongoing concerns over how Chinese-owned tech firms handle U.S. consumer data and whether that data could be accessed by foreign governments. Apple iOS 26: Top 5 iOS 26 Features You NEED to See! AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Irish Independent
19-06-2025
- Business
- Irish Independent
EU ramps up its efforts to stop Chinese online firms selling illegal goods
The EU's executive arm yesterday unveiled a list of grievances against China-owned AliExpress, which has been under investigation since March 2024 under the Digital Services Act – the EU's content moderation rulebook. In a statement, the European Commission said that AliExpress doesn't adequately moderate the goods sold on its website and fails to 'appropriately enforce' its penalty policy against sellers who repeatedly post illegal content. Platforms with more than 45 million EU users can face fines of 6pc of global yearly sales The commission's preliminary findings now put the platform at risk of a fine. An AliExpress spokesperson said the company is continuing to work closely with the commission and is committed to respecting EU rules. They said they were 'confident that a positive and compliant result will be achieved'. The commission also said AliExpress has committed to changes to systems for detecting and flagging illegal products – such as medicines and food supplements – tracing sellers and making its data more transparent. Alibaba is looking for new areas for growth after its core businesses has fallen victim to ongoing US-China tensions. Company chair Joe Tsai said last month that Asian companies can look for opportunities in Asia or Europe for expansion. Under the Digital Services Act, online platforms with more than 45 million EU users can face fines of 6pc of their global yearly sales for failing to stamp out illicit products or harmful content. Besides AliExpress, other major online platforms – including X, Meta, Temu, TikTok and several pornography platforms – are currently being investigated under the sweeping regulation.
The Star
18-06-2025
- Business
- The Star
EU says AliExpress failed to stop illegal sales in digital probe
The EU's executive arm on June 18 unveiled a detailed list of grievances against China-owned AliExpress, which had been under investigation since March 2024 under the bloc's content moderation rulebook the Digital Services Act. — Photo by on Unsplash The European Union escalated a probe against Alibaba Group Holding Ltd's e-commerce service AliExpress, accusing it of failing to tackle the spread of illegal products on its platform. The EU's executive arm on June 18 unveiled a detailed list of grievances against China-owned AliExpress, which had been under investigation since March 2024 under the bloc's content moderation rulebook the Digital Services Act. AliExpress doesn't adequately moderate the goods sold on its website and fails to "appropriately enforce' its penalty policy against sellers who repeatedly post illegal content, the European Commission said in a statement. The commission's preliminary findings put the platform at risk of a fine. The commission also said AliExpress has committed to changes to systems for detecting and flagging illegal products – such as medicines and food supplements – tracing sellers and making its data more transparent. Alibaba is looking for new areas for growth after its core businesses fell victim to prolonged US-China tensions. Chairman Joe Tsai said last month that Asian companies can look for opportunities in Asia or Europe for expansion. Under the DSA, online platforms with more than 45 million users in the EU can face fines of as much as 6% of their global yearly sales for failing to stamp out illicit products or harmful content. Besides AliExpress, other major platforms including Elon Musk's X, Meta Platforms, e-commerce website Temu, social network TikTok and several pornography platforms are currently being investigated under the sweeping regulation. – Bloomberg
Forbes
04-05-2025
- Automotive
- Forbes
Stellantis Exposed In Europe As Tariff Turmoil Undermines Automakers
There's a brief period after major corporations like Stellantis report on their finances and provide forecasts for the rest of the year when investors feel confident about the future of their investments, or at least know the worst for a little while. That was then; now we are in President Trump tariff turmoil territory and a key factor for valuing a huge corporation trading internationally has been undermined. If you don't know the prices you can charge, your control over a key element has disappeared and your power to predict profitability will be destroyed. That's why Stellantis, after reporting first quarter sales fell 14% to €35.8 billion compared with the same period last year, said it would not make any predictions about its profits for the year. Stellantis reports profits every six months, not quarterly. Stellantis wasn't alone. Mercedes withdrew its profit guidance for the year, as did Geely of China-owned Volvo Cars. Volkswagen reported first quarter earnings dropped 40% in the first quarter compared with the same period last year to €3.1 billion and its overall profit margin slid to 3.7% from 6%. VW said its profits were hit by uncertainties over the Trump tariffs, and profits for the year would be at the lower end of its 5.5 to 6.5% target range. VW said any possible fallout from the Trump tariffs was not included in the forecast. BMW has yet to report its first quarter finances. Stellantis is currently leaderless, in financial difficulties and under great pressure to make some radical changes. CEO Carlos Tavares quit in December. A new leader is expected to be appointed by the end of next month. Stellantis's operating profit margin in 2024 was 5.5%, down sharply from 2023's 12.8%. Stellantis had said before the Trump tariffs that it expects little improvement in 2025. Sales in Europe fell 7.3% to about 2 million in 2024, in an overall market that rose 0.8%. according to ACEA. Market share was 15.2%, behind the leader Volkswagen and its multi-brands at 26.3%. Tavares orchestrated the merger between Fiat Chrysler and France's Groupe PSA in 2021, bringing together 14 brands. Many of the brands compete in the same market, including Citroen, Peugeot, Fiat, Vauxhall, and Opel in the European mass market. Lancia, DS, Alfa Romeo and Abarth sit in the wannabe premium sector, and Dodge, Ram, Jeep and Chrysler are in the U.S. Storied Italian sportscar maker Maserati sits atop of the list. Analysts say there is much scope to remove brands and cut headcount. 'The company's outdated product portfolio has been a persistent issue, forcing it into an aggressive product launch cycle with 20 new models set for release. While this move is necessary to regain competitiveness, it carries significant risks, including potential quality concerns and production delays,' said Orwa Mohamad, analyst at investment researcher Third Bridge. Stellantis's European operation is a weak-looking target for new Chinese competition. 'Stellantis faces a significant threat from Chinese EV manufacturers in Europe, even with the recently imposed tariffs aimed at protecting local automakers. Chinese brands have rapidly closed the gap in product quality, technology and cost efficiency, making them highly competitive in the mass-market segments where Stellantis operates,' Mohamad said. Other analysts agree that Stellantis needs time to stabilize. In Europe the most threatened brands are Lancia, Alfa Romeo and DS. Citroen. Peugeot, Fiat Opel and Vauxhall are fighting over the same customers. At the time of the merger this wasn't seen as a problem. Since then the overall market has shrunk, while competition has ramped up as Chinese manufacturers raised their game. Rationalizatiion seems inevitable. Investment researcher Bernstein, in a report which talked about 'some positives amid great uncertainties' in the first quarter said Stellantis is adjusting production and looking to improve sourcing to mitigate tariff impacts. Bernstein said a couple of positive surprises in the quarter included the average selling price of vehicles in the U.S. at €44,300 ($50,100), 1.0% better than expected, while in Europe it was €23,800 ($26,900), 6.1% above consensus. Third Bridge's Mohamad said Stellantis still had inventory and brand positioning problems in the U.S. 'With Ford and other rivals doubling down on their SUV and truck lineups, Stellantis will need to take bold steps in marketing and personalization to stay relevant,' he said. 'Looking ahead, Stellantis faces a 'crunch point' over the next six to 12 months, requiring significant strategic adjustments. Cost-cutting measures, better alignment of production with demand, and improved software and electrification strategies will be crucial,' Mohamad said. Experts wonder how long the tariff turmoil will last. President Trump aims to strike 90 trade deals during a 90-day pause on his reciprocal tariffs announced earlier in April. His administration has repeatedly said it was negotiating bilateral trade deals with dozens of countries, according to Reuters. Trump's aggressive trade stance has cascaded through the global economy since his return to office in January, and the 90-day pause was unveiled after fears of recession and inflation sent financial markets into a tailspin, Reuters said in a report from Washington.
Yahoo
01-05-2025
- Business
- Yahoo
Opinion - To rebuild America's maritime fleet, Congress must create demand for US ships
With his 'Restoring America's Maritime Dominance' executive order last month, President Trump sounded the alarm: Our nation will either rebuild its commercial shipping fleet now or drift further into dependence on foreign vessels, most flying the Chinese flag. The executive order's mandate for a maritime action plan calls for a serious agenda by various agencies to revive the merchant marine, but meaningful change will require Congress to step up and do its job. That starts with creating real, sustained demand for U.S. shipping. I grew up in Mobile, Ala., a port city with the maritime industry in its blood. My father worked as a commercial mariner, and I've had the privilege of representing a district with one of the largest shipyards in the country. I've seen firsthand how critical the maritime industry is to our economic and national security alike. I've also borne witness to what decades of neglect have done to a once-proud industry. Growing up, I was in awe of the bustling waterfront with enormous cargo vessels of all types pulling in with the Stars and Stripes flying boldly from their flagstaffs, and homeports from the greatest cities in the country painted on their sterns. Today, less than 1.6 percent of U.S. imports and exports move on U.S.-flagged vessels. The rest are hauled by foreign-owned fleets, often underwritten by our strategic adversaries. China-owned or subsidized shipyards now build 74 percent of the world's ships — we build 0.2 percent. If this disparity doesn't keep you up at night, it should. Without a robust domestic shipping fleet, America is economically reliant and strategically vulnerable. U.S.-flagged ships are required by law to support national defense in times of war or emergency, as they did to critical effect in numerous conflicts in our nation's history. In a crisis, if our supply chain depends on a fleet we don't control, we're not a maritime power — we're a client state. President Trump's executive order rightly targets the regulatory gridlock that has eroded American shipbuilding, but it falls to Congress to fill the other half of the equation: ensuring that U.S. ships have cargo to carry. Without steady demand for their services, new ships will just be left to rust at port. I'll offer three simple ideas to help accomplish this goal. First, it should double the tax deduction for companies that ship American. Today, U.S. businesses can deduct 100 percent of shipping costs, whether they use U.S.-flagged or foreign vessels. But foreign ships typically operate at lower cost, thanks to less-stringent labor, safety, and tax regimes. Doubling the current deduction to 200 percent for cargo moved on American ships would almost wipe out that price gap. It's a simple, voluntary incentive that, by some estimates, could boost demand by nearly 20 percent and support the addition of nearly two dozen ships to the fleet. Next, Congress should require 100 percent of taxpayer-funded cargo to be moved on U.S.-flagged vessels wherever possible. This rule is already in place at the Department of Defense, but most civilian agencies still operate under a 50 percent requirement to use U.S. vessels. There is no sound rationale for that inconsistency. If taxpayers are footing the bill, the cargo should support American workers, American ships and American security. This would make a big difference given that the U.S. government is one of the largest shippers in the country. And finally, we should expect more from American companies. Every week, I see ads touting a company's 'Buy American' values. But when will those same businesses commit to 'Ship American?' Congress can jumpstart the trend by encouraging the formation of a Ship American Coalition — an alliance of importers and exporters willing to voluntarily commit more cargo to U.S. vessels. Even a 10 percent shift from the likes of Amazon, Walmart and John Deere would have a meaningful impact on fleet demand, and they could benefit from the same patriotic branding they use to sell American-made goods. Taken together, these ideas offer a streamlined, practical way to generate the cargo volumes that will sustain an expanded U.S. fleet. They are not merely a nostalgic appeal to maritime romanticism but rather an economic and strategic necessity. America cannot be the world's leading economic power if we do not own our own ships — and use them. I know from personal experience that our country doesn't lack the talent or resources to build ships; we just lack the market incentives to justify the investment. President Trump has taken the biggest step in decades to end the collective apathy that has led to our maritime decline. But unless Congress follows up with real reforms to create demand, the Maritime Action Plan will remain just that — a plan. Jerry Carl is an American politician and businessman who represented Alabama's 1st Congressional District from 2021 to 2025. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
