US pushes back on foreign takeovers
The US has passed a new law that strengthens the government's power to review - and potentially block - business deals involving foreign firms.
Chinese companies, once among the most prolific deal-makers in the world, are increasingly running into regulatory roadblocks, particularly in the United States. A slew of deals by Chinese buyers have been thwarted for national security reasons, including the acquisition of MoneyGram by Ant Financial the electronic payments company controlled by the internet tycoon Jack Ma.
US President Donald Trump signed the bill, which is part of a broader military spending measure, on Monday.
The US worries Chinese firms use investments and acquisitions to gain access to new technology - a concern also behind the US-led trade war.
China was critical of the US defence act.
The law was supported by both Republicans and Democrats in Congress, which approved the measure earlier this year.
Our assessment is that many countries in the world including US, France, Germany and UK having cutting edge technologies have bolstered anti-takeover measures amidst concern of falling investments.