Companies


    • Huawei says sales up 23% despite US controls

      Huawei says sales up 23% despite US controls

      Huawei’s sales rose by double digits in the first half of this year despite being blacklisted by Washington and its chairman, saying US pressure has “galvanised our people,” expressed confidence Tuesday the Chinese tech giant will “enter a new period of growth.” Sales in the six months through June rose 23.2% over a year earlier to 401.3bn yuan ($58.3bn), according to Liang. That was up from 2018′s full-year growth rate of 19.5%, but Liang warned Huawei will “face difficulties” in the second half.

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    • Huawei in the centre of US bipolar policies

      Huawei in the centre of US bipolar policies

      Competing tensions inside the US administration over country's policy towards China are once again in sight after on Tuesday members of the US Senate and House of Representatives introduced bills to keep tight restrictions on Huawei Technologies Co Ltd - a move that came amid rising speculations that President Donald Trump is preparing to scale back curbs on the Chinese tech giant without an act of Congress.

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    • Boeing loses $6bn order to Airbus

      Boeing loses $6bn order to Airbus

      Saudi Arabia’s flyadeal is terminating a prior order for Boeing’s 737 Max jet and is switching to European rival Airbus, in what is seen as the latest blow to the American manufacturer as it seeks to return the beleaguered fleet to flight after two fatal crashes. The budget airline, which in December said it would purchase 50 Max jets, announced on Monday that it will instead purchase 50 Airbus A320neo narrow-body jets, a direct rival to Boeing’s update to the popular 737 airliner.

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    • British Airways faces $230m fine over data breach

      British Airways faces $230m fine over data breach

      The UK’s data watchdog has issued a "notice of intent" that it plans to fine the airline British Airways a record $230m after last year website failure compromised the personal details of roughly 500,000 customers, violating EU's General Data Protection Regulation (GDPR). According to the Information Commissioner’s Office (ICO) it was company's '“poor security arrangements” that lead to the breach of credit card information, names, addresses, travel booking details, and logins of its customers.

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    • New US law forces big tech to disclose value of data

      New US law forces big tech to disclose value of data

      A new bill, that would force tech giants like Google, Amazon, and Facebook to tell users how much their data is worth was introduced by American lawmakers on Monday. In an age where data is exploited as one of the world’s most valuable resources, the law would put a spotlight on what’s otherwise been a hidden side to the tech economy.

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    • Amazon launches a credit card for the ‘underbanked’

      Amazon launches a credit card for the ‘underbanked’

      Amazon has a brand new product that ties into its Amazon Prime membership program, but caters to a specific segment of the market - those who might not have good enough credit to get a credit card. The new Amazon Credit Builder tool lets users build their own secured credit card. That means they’ll have to put down a refundable security deposit of anywhere $100 to $1,000 to qualify for the card, and the credit limit will match it.

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    • Fiat Chrysler to merge with Renault

      Fiat Chrysler to merge with Renault

      Fiat Chrysler and Renault, are considering a merge of vast swaths of their businesses - a move that demonstrates the growing desire among automakers to consolidate in an environment of increased regulatory pressure, sales declines and rising costs aimed at bringing next-generation technologies like self-driving cars to market. 

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    • Ford layoffs hit 7,000 jobs worldwide

      Ford layoffs hit 7,000 jobs worldwide

      Ford Motor Company announced on Monday that it will cut about 7,000 salaried workers, or roughly 10 percent of its global global workforce, in the coming months in a cost-cutting measure that officials said would save about $600m per year. According to the company's statement, the first wave of layoffs will begin tomorrow, 21 May and include 500 employees in the US only. In an email to employees, Ford CEO Jim Hackett added that job cuts in North America would be completed by the end of the week, with layoffs in international markets to conclude by the end of August.

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    • VW postpones decision on Eastern European plant

      VW postpones decision on Eastern European plant

      The German manufacturer Volkswagen announced this Monday that it has postponed its decision on where to build its new multibrand assembly factory in Eastern Europe, where some of the German group’s car models would be produced. Still, the group, has been given the greenlight by the Board of Supervisors of the project and its management to start final talks with the contenders for the investment, which is being estimated at approximately €1bn.

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