tyb
FedEx sues U.S. government over 'impossible' task of policing exports to China
U.S. parcel delivery firm FedEx Corp on Monday sued the U.S. government, saying it should not be held liable if it inadvertently shipped products that violated a Trump administration ban on exports to some Chinese companies.
The move came after FedEx reignited Chinese ire over its business practices when a package containing a Huawei phone sent to the United States was returned last week to its sender in Britain, in what FedEx said was an “operational error.” Fears that China would blacklist FedEx as a result sent its shares down 2.7 percent on Monday.
FedEx’s suit and delivery error come against a backdrop of increasing tension between the world’s two biggest economies. The United States and China have been engaged in a trade fight for nearly a year on issues such as tariffs, subsidies, technology, regulations and cyber security.
The U.S. Commerce Department has banned a number of Chinese firms in recent weeks from buying sensitive U.S. technology.
In court filings in the District of Columbia, FedEx said it should not be expected to enforce the export ban, and could not reasonably be held liable for shipping products that it did not know about.
Export restriction rules “essentially deputize FedEx to police the contents of the millions of packages it ships daily even though doing so is a virtually impossible task, logistically, economically, and in many cases, legally,” it said in a filing.
A U.S. Commerce Department spokesman responded that, “We have not yet reviewed the complaint, but nevertheless look forward to defending Commerce’s role in protecting U.S. national security.”
Chinese telecoms company Huawei Technologies Co in May was added to the U.S. “Entity List” of people and companies the government said posed a risk to the United States, essentially barring it from buying U.S. technology upon which it was heavily reliant.
China is also drawing up its own “Unreliable Entities List” of foreign firms, groups and individuals.
State-run newspaper Global Times on Sunday tweeted that FedEx was likely to be added to that list.
‘OPERATIONAL ERROR’
Last month, China said it would launch an investigation after two parcels sent via FedEx destined for Huawei addresses in Asia were diverted to the United States. FedEx said the packages were “misrouted in error.”
In the latest incident, technology news outlet PCMag here said that its writer in Britain had attempted to send a Huawei P30 handset to a colleague in the United States. FedEx returned the phone and told the sender that it could not deliver the package because of a "U.S. government issue" with Huawei and the Chinese government, PCMag reported.
FedEx responded by saying publicly that it would deliver all products made by Huawei to addresses other than those of Huawei and affiliates placed on the U.S. national security blacklist.
https://www.reuters.com/article/us-huawei-tech-fedex-usa/fedex-sues-u-s-government-over-impossible-task-of-policing-exports-to-china-idUSKCN1TO047?
SNAP Inc Chairman sold $2.48m in shares-June 20-24
Snap Inc. is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company provides Camera, Friends Page, Discover, Snap Map, Memories and Spectacles. Snapchat opens directly into the Camera, helping in creating a Snap and sending it to friends. It offers a range of creative tools that enables people to personalize and add content to their Snaps. Its chat services includes creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of stickers and Bitmojis. Memories enable users to create Snaps and stories from their saved snaps, as well as their camera roll. It also offers Spectacles, its sunglasses that make Snap. The Company’s advertising products include Snap Ads and Sponsored Creative Tools, such as Sponsored Lenses and Sponsored Geofilters.
Number of employees : 2 884 people.
https://www.marketscreener.com/SNAP-INC-34091150/company/
https://www.secform4.com/insider-trading/1564408.htm
NYSE execs staged trading-floor hoax to impress Snap CEO
One day in late 2016, executives at the Big Board ordered dozens of regulatory staffers to head down to the trading floor so it looked busier than it really was — an elaborate ruse to impress the chief executive of Snap Inc. as he weighed whether to list the vanishing-photo app maker’s shares there, The Post has learned.
NYSE brass hatched the sneaky sham, secretly caught on video by a disgusted employee, after Snap CEO Evan Spiegel remarked during a Nov. 18, 2016, tour of the exchange’s historic building at 11 Wall St. that the trading floor looked empty, according to a source.
https://nypost.com/2018/12/13/nyse-execs-used-fake-traders-on-market-floor-to-impress-snap-ceo/
>californians
right…EVERYONE in california drops trou and pinches a loaf in the street.
Come on now nigga
paint everyone that lives in this state with the same brush. Too fucking stupid to see it's the politicians that enabled it.
good luck with that.
and all the company's who ignored that for years may get a surprise-a big one. They tried to pass it off to us over the last several yrs-those neat little notices around tax time to estimate what you spent online and in other places that ignored it. Mine went straight into the trash.