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...Last year, it closed its flagship Asia V buyout fund after raising $7.1bn, eclipsing its targets....
...In recent months, Mike Gallagher, the Republican chair, and his panel have stepped up scrutiny of US companies with investments or operations in China, including BlackRock, the world’s largest asset manager...
...Mike Gallagher, the Republican chair of the House China committee, told the Financial Times that Congress “must turn off the tap of American capital flowing to China” and companies linked with the governing...
...“By splitting its US and PRC entities, Sequoia is taking a step in the right direction by reducing the flow of US expertise to problematic PRC companies,” Gallagher told the Financial Times....
...But in recent months it has probed commercial links between US companies and China....
...Mike Gallagher, the Republican head of the committee, and Raja Krishnamoorthi, the top Democrat, will introduce the American Security Drone Act on Wednesday, the Financial Times has learnt....
...“If American capital continues to flow to Chinese military companies, we are at risk of funding our own destruction,” Gallagher told the FT....
...venture firm GGV Capital is splitting into two independent businesses focused on Asia and the US, three months after rival Sequoia Capital made a similar move in response to mounting political pressure on American...
...Before most people knew what a camera was, the V&A was already amassing photographs....
...“Do we want TikTok as a platform to be owned by an American company or owned by China? Do we want the data from TikTok, children’s data, adults’ data . . . staying here in America or going to China?”...
...Congress moved with unusual speed to pass the TikTok legislation after it was introduced last month by Mike Gallagher, the now-retired chair of the House China committee....
...However, Britain’s Department for Culture, Media and Sport has placed a temporary export bar on the carving and given the V&A until June 14 to raise £2mn so it can match the price paid by the American institution...
...The Biden administration and the previous Trump administration both identified TikTok as a security risk, partly because Chinese law requires domestic companies to share data when requested by Beijing....
...The three other legislative bills aim to “end tax breaks for Chinese equities, restrict sanctioned Chinese companies’ access to US capital markets, increase transparency on risks to American corporations...
...authoritarianism and efforts to develop technological supremacy and undermine American technological leadership,” they wrote....
...Gallagher has gone public with his concern over China’s subsidies, partly to push the Biden administration to act. But CEOs will also carefully parse Gallagher’s statements....
...US security officials say Beijing could access the personal data of the 170mn Americans who use TikTok because of Chinese laws requiring domestic companies to hand over information to the government....
...US companies are concerned the temperature could rise further ahead of the American presidential election in November....
...could jeopardise American national security....
...For one thing, management seems to have traded English understatement for American optimism....
...It is building a facility in Penang, but some US lawmakers already want to restrict American companies from collaborating on RISC-V projects....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...As we have covered before, companies like things to be zero-rated. Before we get into it, engage your favoured extremely American podcast bro voice: Hold up, y’all — what’s a flapjack?...
...Peter Spiegel I mean, I majored in American history in college, so I know Eugene V Debs, the socialist candidate for president multiple times in the ‘20s and ‘30s. So I have to say, I did know that....
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