News Snapshot:
In brief: Companies tempted to do business with sanctioned Huawei might want to look at Seagate and think twice. The storage giant has been hit with a $300 million fine by the United States Department of Commerce for selling $1.1 billion worth of disk drives to the Chinese firm. It was during 2019 when the Trump administration placed Huawei on the Entity List, a trade blacklist that prevented the sale of US goods to the company over national security concerns. But last October, Huawei notified investors that the Department of Commerce's Bureau of Industry and Security (BIS) had sent it...
