Business Briefs – December 12, 2018

U.S. Officials: China Poses Serious National Security Threat

WASHINGTON (AP) – U.S. national security officials say China’s cyber threats and the theft of intellectual property from American companies pose large economic and national security challenges for the United States. Assistant Attorney General John Demers says the U.S. “cannot tolerate a nation that steals the fruit of our brainpower.” Demers was among several officials testifying Wednesday before the Senate Judiciary Committee.

Tencent Music Shares Rise On First Trading Day

NEW YORK (AP) – Shares in Chinese streaming music giant Tencent Music Entertainment rise nearly 8 percent in their first day of trading. The company’s IPO of 82 million shares priced at $13 each and is expected to raise between $1.07 billion and $1.23 billion.

States Ask Court to Stop Trump From Reviving U.S. Coal Sales

BILLINGS, Mont. (AP) – Four states that say burning coal will hurt their residents as it makes climate change worse are trying to stop the Trump administration from selling vast reserves of the fuel that are beneath public lands. Attorneys for California, New Mexico, New York and Washington state argue the sales put the climate at risk and shortchange taxpayers. Administration officials say ending a moratorium on coal sales imposed under Obama was critical for the nation’s economy.

Virgin Galactic Aims to Reach Space Soon With Tourism Rocket

MOJAVE, Calif. (AP) – Richard Branson’s Virgin Galactic is gearing up to finally send its rocket ship to the edge of space. If successful, it would be a major step toward the long-delayed dream of commercial space tourism. That test flight could come as early as Thursday with the spaceship soaring high above California’s Mojave Desert.