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Global banks cutting ties with Huawei

Dec. 21, 2018 4:00 AM ETHSBC Holdings plc (HSBC) StockHSBC, C, SCBFF, SCBFYBy: Yoel Minkoff, SA News Editor18 Comments
  • More companies are distancing themselves from Huawei, while the Chinese firm faces a new hurdle: reduced access to the global financial system.
  • Two banks that helped power Huawei's rise as a global technology supplier, HSBC and Standard Chartered (OTC:SCBFY), won't provide it with fresh funding or banking services.
  • Citigroup (NYSE:C) is also putting new banking business with Huawei on review due to national security risks.

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