ZTE Faces $1B Bribery Settlement, Shares Plummet

ZTE, a Chinese telecom giant, may pay over one billion dollars to the U.S. government to resolve foreign bribery accusations. The Justice Department is investigating alleged violations of the Foreign Corrupt Practices Act in South America and other regions. ZTEs shares dropped after the news, and a settlement could impact their finances.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.