HONG KONG—Chinese telecommunications company ZTE Corp. said it halted major business operations, marking the deepest wound inflicted yet in the escalating trade rift between China and the U.S. The Shenzhen-based company disclosed in a regulatory filing Wednesday that “major operating activities of the Company have ceased.” The announcement came less than a month after the U.S. Commerce Department banned American companies from selling components to ZTE, the fourth-largest seller of phones in the U.S., according to the research...

Source: Wall Street Journal May 09, 2018 18:31 UTC