Tag

Foreign Ownership

All articles tagged with #foreign ownership

media1 year ago•2 min saved

"UK Bans Foreign State Ownership of Newspapers, Thwarting Telegraph Takeover"

The U.K. government has moved to block foreign state ownership of newspapers and newsmagazines, dealing a blow to former CNN chief Jeff Zucker's bid for The Telegraph and The Spectator Magazine, which relied heavily on financing from Emirati backers. The proposed legislation aims to prevent foreign influence in the British media, particularly concerning the Conservative Party's interests. RedBird IMI, Zucker's media venture company, may attempt to salvage the bid by finding new investors and reducing the Emiratis' majority stake to comply with the government's rules.

via The New York Times|

#foreign-ownership #jeff-zucker #media

national-security-agriculture2 years ago•6 min saved

"Rising Concerns Over Foreign Ownership of US Farmland"

A new Congressional report reveals that foreign investors, including those from adversarial nations like China, Russia, Iran, and Venezuela, own at least 40 million acres of US farmland, pastures, and forests, raising concerns about national security and food supply chains. The report highlights the lack of reliable tracking of foreign land ownership by US officials, with some plots near sensitive military facilities. Chinese firms alone own 346,915 acres of American agricultural land, and the USDA's data on foreign investments in agricultural land is deemed sparse and unreliable. The report has sparked bipartisan outrage, with demands for the Biden Administration to clamp down on purchases from adversaries to protect America's defenses.

via Daily Mail|

#agriculture #congressional-report #foreign-ownership

business2 years ago•7 min saved

Controversy Surrounds Nippon Steel's Bid for US Steel

The announcement of U.S. Steel being purchased by Nippon Steel Corporation for $14.9 billion has elicited a range of reactions in and around Pittsburgh. While shareholders are happy, concerns have been raised about national security implications and the impact on U.S. Steel employees. Many people in the region feel a strong connection to the steel industry, which played a significant role in establishing the U.S. as a global superpower. Some see the sale as a repeat of past betrayals by U.S. Steel, while others hope that Japanese ownership could bring new life to the struggling industry.

via 90.5 WESA|

#business #foreign-ownership #nippon-steel-corporation

national-security2 years ago•2 min saved

Arkansas Compels Chinese-Owned Seed Producer to Divest 160 Acres Over Security Worries

The state of Arkansas is forcing a Chinese-owned seed producer, Syngenta, to sell 160 acres of farmland within the next two years due to national security concerns. The company, acquired by China National Chemical Corp in 2017, is on the US Department of Defense's list of Chinese military companies posing a threat to national security. Arkansas Governor Sarah Huckabee Sanders stated that seeds are considered technology, and hostile countries could exploit knowledge of American farming practices. The state's Attorney General, Tim Griffin, announced a fine for Syngenta for failing to disclose its foreign ownership. The move marks the first enforcement of a law banning foreign entities from owning agricultural land in Arkansas.

via New York Post |

#arkansas #chinese-owned-seed-producer #farmland

agriculture2 years ago•6 min saved

China's Acquisition of U.S. Farmland: Unveiling the Truth

A review of USDA documents by NBC News found that Chinese entities have made very few purchases of U.S. farmland in the past year and a half, amounting to less than 1,400 acres, or less than three-hundredths of 1% of the country's agricultural land. However, the review also revealed lax reporting and enforcement of foreign ownership, with some transactions not being reported for years. The majority of foreign purchases were made by European wind power companies leasing land for wind turbines. Lawmakers are pushing for stricter regulations on foreign ownership due to national security concerns, but enforcement has been weak, with only a few penalties imposed in the past decade.

via NBC News|

#agriculture #china #foreign-ownership

politics2 years ago•5 min saved

"States and Gov. DeSantis Take Action Against Chinese Land Ownership and Digital Rights"

Several states in the US are passing laws to restrict foreign ownership of farmland, citing national security concerns and the need to protect American agriculture. However, data from the USDA shows that holdings by Chinese investors and partners make up less than 1% of foreign-owned farmland and 0.03% of all US farmland. Critics argue that these laws discriminate against Chinese Americans and echo xenophobic policies from the past. Some lawmakers propose using the current review process for sensitive foreign investments or tweaking it slightly to address national security concerns.

via HuffPost|

#china #discrimination #farmland

politics2 years ago•3 min saved

"Texas Senate Passes Controversial Bills on Land Ownership and Zoning"

The Texas Senate has passed a bill that prohibits citizens of countries that pose a national security threat to the US from owning certain types of land in the state, including agriculture, oil, timber, and mineral-bearing areas. The legislation targets China, Russia, Iran, and North Korea, which have been named on the Director of National Intelligence's National Threat Assessment for three years in a row. Lawful permanent residents and dual citizens will still be allowed to buy land. Similar bills have been introduced in other states, and at the national level, Sen. Tom Cotton has introduced a bill that would ban Chinese citizens from purchasing farmland and real estate in the US.

via Fox News|

#china #farmland #foreign-ownership