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The US cracks down on chip exports to Huawei

No more chips to China’s Huawei: The US has withdrawn export licenses that allowed American companies — including Intel and Qualcomm — to supply China’s Huawei with chips used for laptops and handsets, Reuters reports. The move comes after Huawei recently launched its first AI-enabled laptop — the MateBook X Pro — powered by Intel's new Core Ultra 9 processor. China has condemned the move, saying it "resolutely opposes the United States overstretching the concept of national security and abusing export controls to suppress Chinese companies without justification."

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  • Ukrainian missiles hit an oil depot in Russian-held Luhansk, igniting a large fire and leaving five employees injured. (Reuters)
  • Alstom plans to raise EUR 1 bn to cut debt: French train maker Alstom plans to tap investors to raise EUR 1 bn by September to help pare down its EUR 2.99 bn debt. The company is also eyeing a EUR 750 mn bond issuance. The company’s finances and cashflow took hits recently after major clients put off orders. (The Guardian)