Posts tagged with "Bloomberg News"

China vows reprisals after USA shutters Houston consulate in what Beijing calls ‘unprecedented escalation’

July 23, 2020

President Donald Trump is raising the stake internationally. China vowed retaliation on July 22 after the United States forced its trade foe to close its Houston consulate, in one of the biggest threats to diplomatic ties between the two nations in decades, Bloomberg News reports..

The U.S. government gave China three days to close its consulate in America’s fourth-most populous city in an “unprecedented escalation,” China’s Foreign Ministry spokesperson Wang Wenbin said Wednesday in Beijing.

China planned to “react with firm countermeasures” if the Trump Administration didn’t “revoke this erroneous decision,” Wang said.

According to Bloomberg, the U.S. State Department said it ordered the consulate shut “to protect American intellectual property and Americans’ private information,” without giving more details. At least two Chinese citizens have been convicted of stealing energy industry trade secrets in Houston in recent years. The consulate is one of five China maintains in the United States, along with its embassy in Washington, D.C.

Asked for specifics on why the consulate was being closed, Secretary of State Michael Pompeo responded with broad remarks about China’s actions on intellectual property, saying it was “costing hundreds of thousands of jobs.”

“We are setting out clear expectations for how the Chinese Communist Party is going to behave and, when they don’t, we’re going to take actions that protect the American people,” Pompeo said at a briefing on Wednesday in Denmark where he was meeting the country’s foreign minister.

 “So much has happened so quickly that it’s hard not to feel like this is a cycle of major escalation,” said Mira Rapp-Hooper, a senior fellow for Asia studies at the Council on Foreign Relations, adding, “To close a consulate on 72-hours notice should be the result only of major infractions by that country and certainly signals a level of diplomatic rancor that is quite intense.”

America has clashed with China over everything from trade and 5G networks to territorial disputes and responsibility for the pandemic, Bloomberg noted. On Tuesday, the Justice Department accused two Chinese hackers of working for Beijing to steal or try to steal terabytes of data, including coronavirus research, from Western companies in 11 nations.

Typically, China would be expected to take similar action against a U.S. consulate. Besides the U.S. Embassy in Beijing, China could target consulates in the cities of Chengdu, Guangzhou, Shanghai, Shenyang and Wuhan.

Research contact: Bloombergnews2

Trump campaign refuses to issue press credentials to Bloomberg News reporters

December 4, 2019

Donald Trump’s 2020 re-election campaign has announced that it no longer will approve credentials for Bloomberg News reporters after the financial media company said it wouldn’t cover Democratic presidential candidatesonly reporting on  Republican and Independent candidates—while its owner and founder, Mike Bloomberg, is out on the trail seeking the party’s nomination.

It’s anybody’s guess what effect the newly restrictive Trump campaign policy might have without a similar decision by the White House, The Wall Street Journal reports.

Bloomberg News occupies one of a handful of permanent seats in the White House press corps travel pool, which means a Bloomberg News reporter currently is with the president wherever he travels, including campaign events.

A White House spokesman declined to comment, but the POTUS weighed in on Twitter on Monday evening.

“Mini Mike Bloomberg has instructed his third rate news organization not to investigate him or any Democrat, but to go after President Trump, only,” @realDonaldTrump tweeted, adding it was “not O.K.!”

Trump campaign manager Brad Parscale commented that continuing to investigate President Trump, whom all of the Democratic presidential contenders are attempting to unseat, was an unfair reporting practice.

“The decision by Bloomberg News to formalize preferential reporting policies is troubling and wrong,” Parscale said in a statement obtained by the Journal. The campaign will engage with Bloomberg News reporters only on a “case-by-case basis,” he said.

“Since they have declared their bias openly, the Trump campaign will no longer credential representatives of Bloomberg News for rallies or other campaign events,” Parscale added.

John Micklethwait, editor in chief of Bloomberg News, said Parscale’s accusations “couldn’t be further from the truth.”

“We have covered Donald Trump fairly and in an unbiased way since he became a candidate in 2015 and will continue to do so despite the restrictions imposed by the Trump campaign,” he said in a statement.

According to The Wall Street Journal, “It is unusual for major-party presidential candidates to ban news outlets from events, but not for Trump. During his 2016 campaign he barred several media outlets, including The Washington Post, The Huffington Post, and BuzzFeed News, from his campaign events for certain periods.”

Research contact:@WSJ

Facebook gets grief for including Breitbart in News tab

October 29, 2019

Can Facebook do anything that doesn’t draw fire from users, regulators, legislators, and the media? After years of complaints from American news outlets that the social media site has The Washington Post reports that Facebook has agreed to compensate at least some news organizations as part of a specialized “News” tab meant to steer users toward curated national and local news stories.

But the project immediately raised new controversy when it became known that Breitbart News—a Web outlet linked to right-wing causes that was once run by former Trump adviser Steve Bannonhad been included among the 200 media outlets participating in the program.

“Given that Facebook is putting actual news outlets in the same category as Breitbart, actual news outlets should consider quickly withdrawing from the program,” Angelo Carusone, the president of Media Matters for America, a liberal nonprofit media watchdog, told the Post.

At an event in New York to launch the project, Facebook CEO Mark Zuckerberg defended Breitbart’s inclusion. “You want to include a breadth of content to make sure all different topics can be covered,” Zuckerberg said.

Other outlets participating include The Washington Post, The New York Times, News Corp., BuzzFeed News, Business Insider, Bloomberg News, Fox News, NBCUniversal, USA Today and the Los Angeles Times.

The News tab marks the latest iteration of Facebook’s approach to online news, the Post reports. Before January 2018, the company had been a leading distributor of news, but that role was dogged by the presence in its feed of false and misleading information, as well as by allegations that its news feed and other features tilted toward liberal viewpoints

Zuckerberg did not go into specifics about how different publishers would be compensated, and media analysts expressed skepticism that the arrangement will help the small and medium local outlets that have been most seriously undercut by the rise of online news distribution.

“The vast majority of local news outlets are not included, and that is part of the news ecosystem that’s most at risk,” David Chavern, the president and chief executive of the News Media Alliance, a trade association of news publishers, told The Washington Post.

Chavern called Facebook’s agreement to pay at least some news outlets for their content a step in the right direction, noting that tech platforms have been “uniquely unwilling to pay for news and quality journalism.”

The News tab already is available to more than 200,000 Facebook users in the United States, with a broader rollout planned for early next year. The new service, Facebook executives say, should make it easier for users to locate the day’s major headlines, as well as stories geared toward particular topics or locales.

The initiative could reach 20 million to 30 million people over a few years, Zuckerberg said.

 Research contact: @washingtonpost