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U.S. adds Chinese genetics company units to trade blacklist

March 2 (Reuters) – The Biden administration on Thursday added a unit of prominent Chinese genetics company BGI Genomics Co Ltd to a trade blacklist, accusing the firms of posing a significant risk of contributing to monitoring and surveillance by the government of China, which has been utilized in the repression of ethnic minorities in China.

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US adds units of China’s BGI, Inspur to trade blacklist

By Alexandra Alper and David Shepardson

March 2 (Reuters) – The Biden administration on Thursday added 37 companies to a trade blacklist, including a unit of Chinese genetics company BGI Genomics Co Ltd. and Chinese cloud computing firm Inspur, in a move that promises to further ratchet up tensions with Beijing.

The Commerce Department, which oversees export controls, added BGI Tech Solutions (Hongkong), as well as BGI Research and Forensic Genomics International, which belong to BGI Group, the parent of BGI Genomics Co Ltd, over allegations that the units pose a “significant risk” to contributing to Chinese government surveillance.

“The actions of these entities concerning the collection and analysis of genetic data present a significant risk of diversion to China’s military programs,” it said.

Reuters previously reported BGI was collecting genetic data from millions of women for sweeping research on the traits of populations, and collaborates with China’s military.

The Commerce Department accused Inspur of acquiring and attempting to acquire U.S. goods to support China’s military modernization efforts.

The companies and the Chinese embassy in Washington did not immediately respond to requests for comment.

Commerce added 26 other Chinese entities to the list – which makes it hard for targeted companies to receive shipments of U.S. goods from suppliers.

The additions included several entities Commerce said were supplying or attempting to supply a sanctioned entity in Iran, and three firms in Russia, Belarus and Taiwan that Commerce said were contributing to Russia’s military.

It also targeted companies in China and Myanmar for violations of human rights, and went after companies in China and Pakistan for contributing to ballistic missile programs of concern, including Pakistan’s.

“When we identify entities that pose a national security or foreign policy concern for the United States, we add them to the Entity List to ensure we can scrutinize their transactions,” Assistant Commerce Secretary Thea Kendler said in a statement.

The latest additions to the trade black list are likely to further escalate ill will between Washington and Beijing, which have been locked in a technology war for years.

Tensions have been especially high since the Biden administration last month shot down a suspected Chinese spy balloon that had crossed a broad swath of the United States.

“We cannot allow our adversaries to misuse and abuse technology to commit human rights abuses and other acts of oppression,” said Assistant Secretary of Commerce for Export Enforcement Matthew Axelrod.”That´s why we´re committed to preventing bad actors from siphoning off our technology.We will take an all-tools approach to combat this threat.”

In 2020, the Commerce Department added two units of BGI Group, the world´s largest genomics company, to its economic blacklist over allegations it conducted genetic analyses used to further the repression of China´s minority Uyghurs.

Beijing has denied wrongdoing. BGI denied allegations of wrongdoing at the time. (Reporting by Alexandra Alper and David Shepardson; additional reporting by Andrea Shalal, live Draw Hk Costas Pitas and Kirsty Needham; Editing by Leslie Adler, Deepa Babington and Lincoln Feast)

Foxconn sees robust AI server demand, delays EV target

Q3 net profit rises 14% yr/yr, better than forecast

*

Q3 revenue rose +20% yr/yr, beating expectations

*

Foxconn bullish on AI server demand

*

Foxconn’s shares have doubled so far this year

(Adds chairman’s comments in paragraphs 3-5,8-9, forecast on EVs in paragraphs 13-14)

By Yimou Lee and Faith Hung

TAIPEI, Nov 14 (Reuters) –

Taiwan’s Foxconn expects robust growth in its artificial intelligence slot server thailand business next year and will increase investment in several countries amid mounting trade tensions between the U.S. and China, it said on Thursday.

U.S. President-elect Donald Trump has threatened to put a 10% tariff on all U.S. imports and a 60% levy on Chinese-made products, a move that could impact both Foxconn, whose Zhengzhou plant in China is a major iPhone assembly location, as well as its key client Apple.

The world’s largest contract electronics maker has already been diversifying its supply chain, expanding production in India in particular. It said on Thursday it would continue to increase investment in countries including the United States, Mexico and Vietnam.

“Trump has just been elected. It’s uncertain what policies he will implement … we’ll be watching to see what changes there will be from the new U.S government,” Foxconn Chairman Young Liu told reporters after reporting its quarterly results.

He said its plants in Wisconsin and Texas have seen steady growth in sales on strong demand for AI servers, and the outlook for its U.S. operations is positive.

Foxconn, also a key supplier to Nvidia, kept its 2024 guidance of “significant” sales growth as robust sales increases in its AI server business helps it weather a decline in demand for consumer electronics caused by geopolitical and macro economic factors.

The company forecast AI servers would account for 50% of its total server revenue next year.

Citing Nvidia CEO Jensen Huang, Liu said demand for Nvidia’s GB series servers were “very crazy” and its shipment for that product will grow quarter by quarter next year as it has ramped up production capacity.

Liu expected Foxconn to take “at least 40%” of the global AI server market and its cloud and networking business, which includes servers, would become its “major product” alongside smartphone.

It is currently building the world’s largest manufacturing facility in Mexico for bundling Nvidia’s GB200 superchips, a key component of the U.S. firm’s next-generation Blackwell family computing platform.

Underscoring Foxconn’s rosy prospects, October sales hit a record high for the month and the company, formally called Hon Hai Precision Industry, has said it expects fourth-quarter revenue to grow year-on-year.

It did not provide a numerical guidance.

LOWERING EV TARGET

Foxconn, which has been expanding into contract electric vehicle manufacturing for diversification, delayed its target of a 5% share in the global EV market by 2025 as the industry grapples with slowing demand.

Liu did not elaborate on a new target and said the company should be able to secure orders from traditional automakers in the near term and is currently working to finalise EV partnership with two Japanese automakers.

Net profit for the July-September period was T$49.3 billion ($1.5 billion), according to Reuters calculations using the company’s nine-month results, as sales jumped 20% to a record on strong sales of AI servers.

That marked a fifth quarter of profit growth and compared with a T$46.3 billion LSEG consensus estimate from 14 analysts.

Foxconn’s shares have doubled so far in 2024, beating the broader market’s 28% gain, buoyed by its confident outlook on AI.

They closed down 1.4% on Thursday ahead of the earnings release.

($1 = 32.4140 Taiwan dollars) (Reporting by Yimou Lee, Faith Hung, Ben Blanchard; Editing by Shri Navaratnam, Miyoung Kim and Christian Schmollinger)

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In recent years, the online casino industry has seen exponential growth, with more players seeking the thrill of gambling from the comfort of their homes. This burgeoning sector offers a wide array of games, from digital slots to live dealer games, providing an experience reminiscent of traditional casinos. As appealing as online casino betting may be, both opportunities and challenges coexist in this realm.

The Rise of Online Casinos

The advent of technology and increased internet accessibility have catalyzed the expansion of online casinos. Unlike brick-and-mortar casinos, online platforms are operational 24/7, offering unparalleled convenience and a diverse range of games. With the global push towards digital transformation, many traditional casinos have ventured online, gclub creating a hybrid experience for users. This shift was particularly accelerated by the COVID-19 pandemic, which limited physical gatherings and drove gamblers to explore digital alternatives.

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However, while there are numerous opportunities in online betting, there are also inherent challenges. The foremost concern is the risk of addiction. The convenience and accessibility of online platforms make it easy for players to spend excessive amounts of time and money on gambling activities. This can lead to financial instability and adversely affect mental health. Responsible gambling initiatives and self-exclusion tools are available on many platforms to combat this, but they require active participation from the players.

Security and privacy concerns also pose a challenge. Online platforms collect a vast amount of personal and financial information, making them potential targets for cybercriminal activities. Although many sites use advanced encryption technologies to protect users, the rise in cyber threats means that players must remain vigilant.

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Navigating the Online Casino Landscape

For those looking to explore online casino betting, it is crucial to approach the activity with caution. Conduct thorough research before choosing a platform, ensuring it is licensed and regulated by a reputable authority. Look for reviews from other players and assess the casino’s reputation, paying close attention to their security measures and customer support services.

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Conclusion

Online casino betting is a multifaceted arena, offering a thrilling and convenient alternative to traditional gambling venues. While it presents exciting opportunities, players must remain aware of the accompanying challenges. By taking measured steps and adopting responsible gambling practices, players can enjoy the dynamic world of online casinos while minimizing potential risks. As the industry continues to evolve, staying informed and making educated choices will be pivotal for a safe and enjoyable betting experience.

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