US Dollar Pauses Rally as Middle East Tensions Support Safe-Haven Demand 
India FMCG Q1 Earnings Preview: Higher Input Costs Likely to Weigh on Profit Margins 
Japan PM Sanae Takaichi Unveils Growth Plan as BOJ Independence Concerns Lift Bond Yields 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
Nike Shifts China Online Sales Strategy to Boost Brand and Fight Local Rivals 
Intel, AMD Seek Long-Term China Server CPU Deals as AI Demand Drives Supply Crunch 
ASML Trillion-Dollar Valuation: Can Europe’s AI Chip Giant Reach the Historic Milestone? 
Macquarie Names Greg Ward as CEO, Signaling Stability and Strategic Continuity 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
Ryanair Warns Summer Airfares May Stay Lower as Quarterly Profit Misses Estimates 
Gold Climbs Above $4,000 as Middle East Tensions and Fed Outlook Drive Safe-Haven Demand 
Trump Set to Unveil New Tariffs on Dozens of Countries as Global 10% Duty Nears Expiration 
KPMG Australia Appoints John Sams as CEO Following Audit Leak Scandal 
Domino’s Weighs Appeal After Australian Court Rules Workers Were Misled on Pay 
Alphabet Q2 Earnings Beat Estimates as AI Spending, Google Cloud Growth Fuel Outlook 
Asian Stocks Rise as Oil Retreats on Iran Ceasefire Hopes Ahead of Key AI Earnings 
Xiaomi was included in the U.S. government’s blacklist last year during Donald Trump’s leadership. The Chinese electronics company suffered big losses after it was banned in the country.
Trump’s administration cited national security threats as the reason for blacklisting Xiaomi. Many Chinese firms were banned as the government believes they may have connections with the Chinese military. American business dealings with the company have been prohibited, and this sent Xiaomi’s shares spiraling down.
U.S. and Xiaomi to resolve the case
Reuters reported that nearly a year after Trump blacklisted Xiaomi, the U.S Department of Defense will now delete the Chinese smartphone maker from the government blacklist. This decision was stated in a court filing that reopened the path for future American investments in Xiaomi.
In the filing, it was also revealed that all the parties agreed to resolve their ongoing legal dispute without further contest. This arrangement effectively put an end to the controversial flare-up between the White House and the Chinese tech firm.
It can be recalled that Xiaomi filed a lawsuit against the U.S. and demanded the ban be lifted. The company also denied having any form of ties with the army in China. It also described the government’s move to blacklist the firm as "unlawful and unconstitutional." Now, with the agreement, it is understood that this legal case would be dropped as they resolve the issues.
Xiaomi’s shares surge following the blacklist removal news
As per CNBC, the news of the U.S. move to pull out Xiaomi from the blacklist sent its shares up. It reportedly rallied to more than six percent after Washington agreed to remove it from the blacklist record.
The U.S. Department of Defense already received a “final order vacating” Xiaomi’s label as a Communist Chinese Military Companies or CCMC. The court said on Tuesday that deleting the phone maker's name in the list is appropriate.
Finally, Xiaomi and the DOD will not start the negotiations to reach agreements on “specific terms of the order.” The parties need to submit a joint proposed order to the court on or before May 20.
