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The New York Stock Exchange on Dec. 18. Photo: Noam Galai/Getty Images

The New York Stock Exchange again reversed course Wednesday and announced it would delist three major Chinese telecom companies — China Mobile, China Telecom, China Unicom Hong Kong.

The backdrop: The NYSE originally announced it would delist the companies on New Year's Eve in order to comply with a White House executive order. The exchange then reversed course late on Monday and said it would no longer delist the telecoms.

Why it matters: The delisting complies with a November executive order that restricts American companies and individuals from owning shares in 31 Chinese companies with links to the People's Liberation Army, as part of an eleventh-hour effort from the Trump administration to increase pressure on China.

  • The NYSE said its latest reversal came after the Treasury Department's Foreign Assets Control office told the exchange on Tuesday that President Trump's order explicitly applies to equity-related securities of the three companies.
  • Trump signed a separate executive order on Tuesday to prohibit transactions with eight Chinese software applications, including Alipay and WeChat Pay. The White House deemed the apps a national security threat given their ability to access private information about their users.

What's next: Trading in securities associated with the three companies will be suspended early on Jan. 11.

Go deeper

Ben Geman, author of Generate
Jan 28, 2021 - Energy & Environment

Takeaways from Biden's sweeping order on climate change

Illustration: Aïda Amer/Axios

President Biden's mammoth executive order on climate policy weighs in at over 7,500 words and resists any single narrative, but I've got a few initial takeaways.

Why it matters: The order aims to marshal the entire federal government behind new initiatives, so that means agencies that may not have the muscle memory or expertise of the resource and environmental branches like EPA and DOE.

2 hours ago - Sports

Gonzaga University revokes NBA great John Stockton's tickets over mask stance

Former Utah Jazz player John Stockton during a 2017 press conference in Salt Lake City. Photo: Melissa Majchrzak/NBAE via Getty Images

Gonzaga University suspended the season tickets of notable alumni John Stockton after the NBA Hall of Famer failed to comply with the school's basketball games mask mandate, the Spokesman-Review first reported.

Driving the news: "Basically, it came down to, they were asking me to wear a mask to the games and being a public figure, someone a little bit more visible, I stuck out in the crowd a little bit," the former Utah Jazz point guard told the outlet in an interview Saturday.

Updated 3 hours ago - World

State Department orders evacuation of U.S. diplomats' families from Ukraine

From left, undersecretary for political affairs Victoria Nuland, Secretary of State Antony Blinken and U.S. chargés d'affaires in Ukraine Kristina Kvien during a meeting with Ukrainian Prime Minister Denys Shmyhal in Kyiv. Photo: Yevhen Liubimov/ Ukrinform/Barcroft Media via Getty Images

The State Department will begin evacuating families and nonessential staff from the U.S. Embassy in Kyiv this week, according to a travel advisory published Sunday evening.

Why it matters: The move underscores U.S. fears that a Russian invasion could destabilize Ukraine and threaten the embassy's ability to assist Americans.