The daily business briefing: December 6, 2018

Canada arrests global CFO of Chinese tech giant Huawei, stock futures plunge on rekindled fears over U.S.-China trade, and more

The Huawei logo in Barcelona
(Image credit: JOSEP LAGO/AFP/Getty Images)

1. Canada arrests CFO of China's Huawei Technologies

Canada has arrested Meng Wanzhou, the global chief financial officer of China's Huawei Technologies, Canadian Justice Department spokesman Ian McLeod said Wednesday. Meng has a bail hearing Friday and faces extradition to the U.S., where the Chinese tech giant is under investigation for possible violations of sanctions against Iran. McLeod said Meng, a deputy chair of Huawei's board and daughter of company founder Ren Zhengfei, was arrested in Vancouver on Saturday. The U.S. has been looking into Huawei's suspected shipping of products originated in the U.S. to Iran since 2016. China demanded Meng's release, and Huawei said it was "unaware of any wrongdoing" by her.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.