By | Reuters | 2 days 15 hours ago | Business
The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp, allowing China's second-largest telecommunications equipment maker to resume business. The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.
By CLAIRE BALLENTINE | NYT | 2 days 11 hours ago | Business
ZTE’s offices in Beijing. The Commerce Department said Friday that the company had met the terms of a settlement and was no longer prohibited from buying components from American suppliers.