News Snapshot:
Washington has ordered US companies to seek permission before selling their technologies to Chinese semiconductor giant SMIC , its latest salvo in the battle for technological dominance over Beijing, the Wall Street Journal reported Saturday. The Department of Commerce “has told US computer-chip companies that they must obtain licenses before exporting certain technology to China’s largest manufacturer of semiconductors,†according to the business daily. The new rules were announced in a letter to the industry Friday, which says that “exports to Semiconductor Manufacturing International Corp. or its subsidiaries risk being used for Chinese military activities,†the report continued. The newspaper...