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Good morning. Huawei is building secret chip factories to skirt US sanctions, a trade association warns, Goldman Sachs intensifies its return-to-office push, and former JPMorgan traders face prison. Here’s what people are talking about.
The leading association of global chip companies is warning that Huawei Technologies is building a collection of secret semiconductor-fabrication facilities across China, a shadow manufacturing network that would let the blacklisted company skirt US sanctions and further the nation’s technology ambitions. Huawei, a controversial telecommunications gear maker at the heart of US-China tensions, moved into chip production last year and is receiving an estimated $30 billion in state funding, according to the Washington-based Semiconductor Industry Association.