Qualcomm


The US has repeatedly accused the Chinese tech giant of installing backdoors in its equipment to enable Beijing’s global espionage and cyberattacks, something that Huawei vehemently denies.

In addition to banning its equipment on American soil, the US started pushing Asian and European states into refusing to use Huawei’s 5G technologies.

In an interview with CNBC, US Secretary of State Mike Pompeo has reiterated earlier Washington claims that China poses a real threat to American national security and expressed the opinion that due to this more and more US companies will cut ties with Chinese tech giant Huawei.

He added that the State Department has been working to make that happen.

Huawei is being used by China to spy on America even prompting the Pentagon to remove all products that the military may be using.

Pompeo also dismissed as “false” Huawei’s previous assurances that it doesn’t cooperate with Chinese government to install backdoors in its equipment and accused the company’s CEO Ren Zhengfei of lying to the “American people” and the world. The secretary of state argued that Huawei is allegedly required by Chinese law to cooperate with the government.

“The company is deeply tied not only to China but to the Chinese Communist Party. And that connectivity, the existence of those connections puts American information that crosses those networks at risk”, Pompeo said.

Washington earlier banned Huawei network equipment from the US, citing concerns that the company had installed backdoors on it to spy on US citizens. The White House also banned the company and around 70 other Chinese firms from obtaining US technologies. Huawei has repeatedly denied spying on its users for the government and even offered to sign no-spy agreements with foreign governments.

(Photo by Gage Skidmore / Wiki)

The move by US government led to Google ceasing Android support for all future Huawei devices and denying them access to its services, such as Gmail or YouTube. American chip producers, such as Intel and Qualcomm, also reportedly ceased ties with Chinese tech giant.

Apart from that, the US has exercised pressure on its European allies to avoid using Huawei equipment in 5G networks, threatening to “reassess” its intelligence-sharing policy otherwise. A media report also suggested that US State Department had pressured South Korea into ditching LG’s equipment because it contained parts produced by Huawei.

Alex Jones breaks down how President Trump supports the arrest of a Huawei executive who was caught assisting in the implantation of spy chips in telecom devices as well as using 5G transmitters to mine data from Americans using their smartphone devices.

Source: InfoWars

Traders work on the floor at the NYSE in New York
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 16, 2019. REUTERS/Brendan McDermid

May 23, 2019

By Shreyashi Sanyal

(Reuters) – U.S. stock index futures slid on Thursday, as investors worried that the U.S.-China trade war could spiral into a technology cold war between the two countries, with no signs of resolution in sight.

Beijing said Washington needs to correct its “wrong actions” for trade talks to continue after the United States blacklisted Huawei Technology Co Ltd last week.

Although the Trump administration temporarily eased curbs on the Chinese telecoms gear maker, tensions again mounted following reports on Wednesday that the United States was considering sanctions on Chinese video surveillance firm Hikvision.

Investors now fret that tit-for-tat tariffs and other retaliatory actions by the world’s two largest economies will be a drag on global growth, especially hitting the high-growth technology sector.

Apple Inc shares fell 1.7% in premarket trading, while those of chipmakers, which have a higher revenue exposure to China, also declined. Intel Corp, Micron Technology Inc and Qualcomm Inc slipped between 1.7% and 3.6%

Tepid data from the eurozone added to the downbeat tone. A private survey showed business growth accelerating at a slower-than-expected pace this month, weighed down by a deepening contraction in the bloc’s manufacturing industry.

At 7:06 a.m. ET, Dow e-minis were down 223 points, or 0.87%. S&P 500 e-minis were down 25 points, or 0.87% and Nasdaq 100 e-minis were down 88 points, or 1.18%.

The prolonged U.S.-China trade war has rattled financial markets, knocking the benchmark S&P 500 index 3.4% off its record high hit on May 1. The index is now on track to post its worst monthly decline of the year.

Investors on Wednesday largely shrugged off the release of minutes from the Federal Reserve’s latest policy meeting, in which officials agreed that their patient approach to setting monetary policy could remain in place “for some time.”

Tesla Inc fell 3.3%, set to add to a six-day slump, which has pushed its closing price to below $200 for the first time since 2016.

Hormel Foods Corp fell 2.3% after the packaged meat producer cut its full-year earnings forecast.

In a bright spot, L Brands Inc jumped 12.4% after the retailer reported better-than-expected earnings, helped by sales at its Bath & Body Works business.

A Commerce Department report, due at 8:30 a.m. ET, is expected to show new home sales declined to a seasonally adjusted annual rate of 675,000 in April, after having risen to 692,000 units in March.

A separate report due later is expected to show Markit’s purchasing managers survey of manufacturing activity edged down to 52.5 in May from 52.6 in the previous month.

(Reporting by Shreyashi Sanyal and Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

Source: OANN

FILE PHOTO: A man talks on his mobile phone beside Huawei's billboard featuring 5G technology at the PT Expo in Beijing
FILE PHOTO: A man talks on his mobile phone beside Huawei’s billboard featuring 5G technology at the PT Expo in Beijing, China, September 26, 2018. REUTERS/Stringer/File Photo

May 23, 2019

By Tetsushi Kajimoto

TOKYO (Reuters) – An overwhelming majority of Japanese firms have no plans to use 5G mobile networks by China’s Huawei or other foreign firms, preferring instead to rely on domestic telecom carriers due to security concerns, a Reuters poll showed.

The Corporate Survey results come amid Washington’s concerns that the Chinese telecom giant’s equipment could be used for spying. Japanese carriers are set to launch high-speed wireless services next year.

The United States has warned countries against using Chinese technology, saying Huawei could be used by Beijing to spy on the West. China and Huawei have strongly rejected the allegations.

In written comments, no Japanese company singled out Huawei or any other foreign firms by name, but they expressed concerns about security issues when using the equipment of foreign firms.

“It is utterly impossible to adopt products and services of a company that cannot dispel concerns about national security,” a wholesale company manager wrote on condition of anonymity.

“In terms of 5G-related patents, Chinese firms hold an overwhelmingly dominant position. But it will be difficult to adopt them given the possibility of a leakage of information,” a machinery maker manager wrote in the May 8-17 survey.

The Corporate Survey found 88% of Japanese firms said they are likely to pick domestic telecom carriers when utilizing 5G, 2% chose Chinese firms including Huawei, 1% named Qualcomm Inc and 11% opted for “others”.

About four out of five firms had no specific business plans to use high-speed wireless technology, the survey showed. It underlined the fact that Japan is lagging other countries such as South Korea and the United States that have already begun rolling out 5G services.

Roughly nine out of 10 firms have not secured enough engineers who can deal with cutting-edge technologies such as artificial intelligence (AI) and Internet of Things (IoT).

The survey, conducted monthly for Reuters by Nikkei Research, polled 477 large- and medium-sized firms with managers responding on condition of anonymity. Around 200-220 answered the questions on 5G and technology issues.

Japan’s telcos including the three big carriers – NTT Docomo, KDDI and SoftBank Corp – were formally allocated 5G spectrum by regulators last month, a major milestone ahead of the launch of high-speed wireless services.

The technology, which can provide data speeds at least 20 times faster than 4G, is seen as essential for emerging technologies from self-driving cars and smart cities to AI and augmented reality.

If underlying technology is vulnerable, it could allow hackers to exploit such products to spy or disrupt them.

(Editing by Jacqueline Wong)

Source: OANN

FILE PHOTO: A man talks on his mobile phone beside Huawei's billboard featuring 5G technology at the PT Expo in Beijing
FILE PHOTO: A man talks on his mobile phone beside Huawei’s billboard featuring 5G technology at the PT Expo in Beijing, China, September 26, 2018. REUTERS/Stringer/File Photo

May 23, 2019

By Tetsushi Kajimoto

TOKYO (Reuters) – An overwhelming majority of Japanese firms have no plans to use 5G mobile networks by China’s Huawei or other foreign firms, preferring instead to rely on domestic telecom carriers due to security concerns, a Reuters poll showed.

The Corporate Survey results come amid Washington’s concerns that the Chinese telecom giant’s equipment could be used for spying. Japanese carriers are set to launch high-speed wireless services next year.

The United States has warned countries against using Chinese technology, saying Huawei could be used by Beijing to spy on the West. China and Huawei have strongly rejected the allegations.

In written comments, no Japanese company singled out Huawei or any other foreign firms by name, but they expressed concerns about security issues when using the equipment of foreign firms.

“It is utterly impossible to adopt products and services of a company that cannot dispel concerns about national security,” a wholesale company manager wrote on condition of anonymity.

“In terms of 5G-related patents, Chinese firms hold an overwhelmingly dominant position. But it will be difficult to adopt them given the possibility of a leakage of information,” a machinery maker manager wrote in the May 8-17 survey.

The Corporate Survey found 88% of Japanese firms said they are likely to pick domestic telecom carriers when utilizing 5G, 2% chose Chinese firms including Huawei, 1% named Qualcomm Inc and 11% opted for “others”.

About four out of five firms had no specific business plans to use high-speed wireless technology, the survey showed. It underlined the fact that Japan is lagging other countries such as South Korea and the United States that have already begun rolling out 5G services.

Roughly nine out of 10 firms have not secured enough engineers who can deal with cutting-edge technologies such as artificial intelligence (AI) and Internet of Things (IoT).

The survey, conducted monthly for Reuters by Nikkei Research, polled 477 large- and medium-sized firms with managers responding on condition of anonymity. Around 200-220 answered the questions on 5G and technology issues.

Japan’s telcos including the three big carriers – NTT Docomo, KDDI and SoftBank Corp – were formally allocated 5G spectrum by regulators last month, a major milestone ahead of the launch of high-speed wireless services.

The technology, which can provide data speeds at least 20 times faster than 4G, is seen as essential for emerging technologies from self-driving cars and smart cities to AI and augmented reality.

If underlying technology is vulnerable, it could allow hackers to exploit such products to spy or disrupt them.

(Editing by Jacqueline Wong)

Source: OANN

FILE PHOTO: A man riding on a bicycle looks at an electronic board showing the Japan's Nikkei average outside a brokerage in Tokyo
FILE PHOTO: A man riding on a bicycle looks at an electronic board showing the Japan’s Nikkei average outside a brokerage in Tokyo February 24, 2015. REUTERS/Yuya Shino/File Photo

May 23, 2019

By Wayne Cole

SYDNEY (Reuters) – Asian shares were stuck in the red on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world’s two largest economies.

Late Wednesday, Reuters reported the U.S. administration was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country’s treatment of its Uighur Muslim minority, according to a person briefed on the matter.

After the United States placed Huawei Technologies on a trade blacklist last week, British chip designer ARM has halted relations with Huawei in order to comply with the blockade.

“For China, the key risk is that the combined effects of investment restrictions, export controls, and tariffs will rewire supply chains and weaken manufacturing investment, particularly in the technology sectors driving growth,” ratings agency S&P warned in a special report.

Japan’s Nikkei slipped 0.5% in early trade, while South Korea lost 0.3%.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.01% to hover just above a 16-week trough. E-Mini futures for the S&P 500 edged down 0.17%.

Minutes of the U.S. Federal Reserve’s last meeting out on Wednesday underlined its readiness to be patient on policy “for some time” given the uncertain global outlook.

The chance of a rate cut seemed to diminish as many Fed policy makers saw recent weakness in inflation as “transitory”, though the latest escalation in the trade war means markets are still wagering on an eventual easing.

Yields on two-year Treasuries of 2.237% are also well below the current effective funds rate at 2.39%.

There remains no end in sight to the trade dispute. Treasury Secretary Steven Mnuchin on Wednesday said it would be at least a month before the U.S. would enact proposed tariffs on $300 billion in Chinese imports as it studies the impact on American consumers.

The mood on Wall Street was cautious with the Dow ending Wednesday down 0.39%, while the S&P 500 lost 0.28% and the Nasdaq 0.45%.

Shares in chipmaker Qualcomm Inc dived 10.9% after a federal judge ruled the company illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees.

(Graphic: Asian stock markets – https://tmsnrt.rs/2zpUAr4)

MORE BREXIT CHAOS

In currencies, constant trade friction saw the safe haven yen in demand again as the dollar dipped to 110.22 yen and away from the week’s top of 110.67.

The dollar fared better on the euro at $1.1155 and was steady on a basket of currencies at 98.075.

Sterling was the main mover, sliding to a four-month low at $1.2625 before steadying at $1.2660 in Asia. [GBP/]

British Prime Minister Theresa May came under intense pressure after her latest Brexit gambit backfired and fueled calls for her to quit.

Prominent Brexit supporter Andrea Leadsom resigned from the government on Wednesday and British media reported May could announce her departure date as early as Friday.

Uncertainty is the only clear certainty in the near term,” said Westpac macro strategist Tim Riddell.

“The risk of a hard-Brexit replacement for May has increased the risks of a hard Brexit result or even a forced no-deal exit,” he added “Such an event would likely force GBP lower, increase risks of assets sliding and BoE taking counter action to support assets.”

In commodity markets, spot gold edged up a touch to $1,274.25 per ounce.

Oil prices were consolidating after falling around 2% overnight as an unexpected build in U.S. crude inventories compounded investor worries about demand. [O/R]

U.S. crude was last down 8 cents at $61.34 a barrel, while Brent crude futures lost 12 cents to $70.87.

(Editing by Shri Navaratnam)

Source: OANN

FILE PHOTO: Women walk past a Huawei P30 advertising LED board at a shopping centre in Bangkok
FILE PHOTO: Women walk past a Huawei P30 advertising LED board at a shopping centre in Bangkok, Thailand May 22, 2019. REUTERS/Soe Zeya Tun/File Photo

May 22, 2019

By Paul Sandle

LONDON (Reuters) – British chip designer ARM has halted relations with Huawei [HWT.L] in order to comply with a United States blockade of the company, potentially crippling the Chinese company’s ability to make new chips for its future smartphones.

Huawei, in common with Apple and chipmakers such as Qualcomm, uses ARM blueprints to design the processors that power its smartphones. It also licenses graphics technology from the Cambridge-based company.

“ARM is complying with all of the latest regulations set forth by the U.S. government,” an ARM spokesman said in a statement. “No further comment at this time.”

Huawei said it valued its close relationships with its partners, but it recognized the pressure some of them are under “as a result of politically motivated decisions”.

“We are confident this regrettable situation can be resolved and our priority remains to continue to deliver world-class technology and products to our customers around the world,” a spokesman said.

The United States blocked Huawei from buying U.S. goods last week, jeopardizing ties with Google, which provides the Android operating system and services like Gmail and Google Maps, as well as hardware partners such as ARM.

It temporarily eased restrictions on Huawei on Tuesday, granting it a license to buy U.S. goods until Aug. 19, meaning that updates of Google apps can continue until then.

The BBC reported earlier on Wednesday that ARM, which is owned by Japan’s Softbank, had instructed employees to halt “all active contracts, support entitlements, and any pending engagements” with Huawei after the United States added Huawei to a list of companies with which U.S. firms could not do business.

ARM said in an internal company memo that its designs contained technology of U.S. origin, the BBC reported.

It told staff they were no longer allowed to “provide support, delivery technology (whether software, code, or other updates), engage in technical discussions, or otherwise discuss technical matters” with Huawei, according to the memo seen by the BBC.

Huawei’s international partners are moving to distance themselves from the Chinese company until there is clarity over its relationship with U.S. technology partners that provide the apps and services that are crucial for consumers.

British mobile operators EE and Vodafone both said on Wednesday they had dropped Huawei smartphones from the imminent launch range of their 5G networks.

(Reporting by Michael Holden and Paul Sandle; Editing by Mark Potter and Louise Heavens)

Source: OANN

Traders work on the floor at the NYSE in New York
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 20, 2019. REUTERS/Brendan McDermid

May 22, 2019

By Shreyashi Sanyal

(Reuters) – U.S. stock index futures dipped on Wednesday, as fears of a possible escalation in the trade war between the United States and China were rekindkled after reports that Washington could impose sanctions on another Chinese company.

This followed Washington’s decision to temporarily ease curbs on Huawei Technologies, which on Tuesday offered a reprieve for investors who feared a hit to the global technology sector after the Trump administration added the Chinese telecoms equipment maker to a trade blacklist last week.

However, sentiment soured on reports of the U.S. administration considering Huawei-like restrictions on Chinese video surveillance firm Hikvision.

The back-and-forth between the United States and China have kept investors on edge, knocking the benchmark S&P 500 index 3% off its all-time high on May 1.

Markets also waited for minutes from the Federal Reserve’s two-day policy meeting in late April when it held interest rates steady. The minutes are due at 2 p.m. ET (1800 GMT).

Fed’s St. Louis chief James Bullard, a voter in the rate-setting committee this year, said on Wednesday further weakness in inflation could prompt the central bank to cut rates, even if economic growth maintains its momentum.

At 7:17 a.m. ET, Dow e-minis were down 49 points, or 0.19%. S&P 500 e-minis were down 7 points, or 0.24% and Nasdaq 100 e-minis were down 30 points, or 0.4%.

Lowe’s Cos Inc fell 8.2% premarket after the home improvement chain slashed its full-year profit forecast, a day after disappointing earnings from department store operators including Kohl’s Corp and J.C. Penney Co Inc.

Nordstrom Inc plunged 11% in premarket trading after the department store operator cut its forecast for full-year sales and profit.

But retailer Target Corp jumped 7.7% after its quarterly same-store sales and profit beat Wall Street estimates.

Among others, Qualcomm Inc fell 9.8% after a federal judge ruled that the chipmaker unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees.

(Reporting by Shreyashi Sanyal and Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

Source: OANN

Traders work on the floor at the NYSE in New York
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 20, 2019. REUTERS/Brendan McDermid

May 22, 2019

By Shreyashi Sanyal

(Reuters) – U.S. stock index futures dipped on Wednesday, as fears of a possible escalation in the trade war between the United States and China were rekindkled after reports that Washington could impose sanctions on another Chinese company.

This followed Washington’s decision to temporarily ease curbs on Huawei Technologies, which on Tuesday offered a reprieve for investors who feared a hit to the global technology sector after the Trump administration added the Chinese telecoms equipment maker to a trade blacklist last week.

However, sentiment soured on reports of the U.S. administration considering Huawei-like restrictions on Chinese video surveillance firm Hikvision.

The back-and-forth between the United States and China have kept investors on edge, knocking the benchmark S&P 500 index 3% off its all-time high on May 1.

Markets also waited for minutes from the Federal Reserve’s two-day policy meeting in late April when it held interest rates steady. The minutes are due at 2 p.m. ET (1800 GMT).

Fed’s St. Louis chief James Bullard, a voter in the rate-setting committee this year, said on Wednesday further weakness in inflation could prompt the central bank to cut rates, even if economic growth maintains its momentum.

At 7:17 a.m. ET, Dow e-minis were down 49 points, or 0.19%. S&P 500 e-minis were down 7 points, or 0.24% and Nasdaq 100 e-minis were down 30 points, or 0.4%.

Lowe’s Cos Inc fell 8.2% premarket after the home improvement chain slashed its full-year profit forecast, a day after disappointing earnings from department store operators including Kohl’s Corp and J.C. Penney Co Inc.

Nordstrom Inc plunged 11% in premarket trading after the department store operator cut its forecast for full-year sales and profit.

But retailer Target Corp jumped 7.7% after its quarterly same-store sales and profit beat Wall Street estimates.

Among others, Qualcomm Inc fell 9.8% after a federal judge ruled that the chipmaker unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees.

(Reporting by Shreyashi Sanyal and Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

Source: OANN

FILE PHOTO: A sign on the Qualcomm campus is seen, as chip maker Broadcom Ltd announced an unsolicited bid to buy peer Qualcomm Inc for $103 billion, in San Diego
FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake

May 22, 2019

(Reuters) – Qualcomm Inc unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees, a federal judge ruled on Tuesday.

Qualcomm did not immediately respond to a Reuters request for comment.

Shares of the company fell 12% to $68.40 in trading before the bell on Wednesday.

(Reporting by Sayanti Chakraborty in Bengaluru; Editing by Arun Koyyur)

Source: OANN

Earlier media reported that Google had suspended its business operations with Huawei, including the transfer of hardware, software and technical services, as well as the Chinese giant’s access to updates of its Android operating system.

Shenzhen-based telecom giant Huawei suggested last year that app makers develop software for a new Huawei app store outside China – a never-before-heard-of plan, according to documents viewed by Bloomberg News.

The Chinese company reportedly told potential partners that by the end of 2018 it would have 50 million Europeans using its own app store, rather than Google’s, and is said to have been involved in talks with European wireless carriers about spreading the new app store further.

Huawei has yet to comment on the story which comes shortly after reports that big-name US tech companies, including Intel, Qualcomm, Xilinx, and Broadcom, had cut off the supply of their software and gear to the Chinese giant in the wake of the US government adding it to a trade blacklist last week.

Alex Jones calls in from the road to break down how foreign governments use the left to destroy America.

In addition, Google is said to have severed its dealings with Huawei, suspending the supply of hardware and some software services except those publicly available via open source licensing.

Huawei phones, which run on Google’s Android operating system, are also expected to lose access to updates to some popular apps, but the existing devices will be safe from upcoming restrictions.

Commenting on the decision on Tuesday, Huawei’s vice-president said that the US move has become a challenge for the Chinese tech giant, Google, and the industry as a whole. The top official stressed that the company would do everything to mitigate the negative consequences of the US decision.

(Photo by Carlos Luna / Flickr)

Last week, the US Department of Commerce placed Huawei on a trade blacklist, barring the Chinese firm from acquiring technology or components from American firms without the US government’s consent. According to Reuters, shortly after, the restrictions were lifted under a temporary general license, which lasts until 19 August.

Separately, US President Donald Trump has directed the Commerce Department and other relevant US agencies to devise a plan to ban American companies from using telecommunications equipment made by foreign manufacturers that are “deemed to pose a national security risk.”

The developments around Huawei come amid the ongoing trade war between China and the United States. Over the past several months, Huawei has been hit with allegations that it’s been spying on behalf of the Chinese government and stealing commercial information.

The telecom giant has consistently dismissed the accusations, stressing that it is independent of the government and sees no reason for restrictions on developing its 5G networks in any country. The United States, New Zealand, and Australia have already barred Huawei from building its 5G mobile phone network in said countries, citing security concerns.

Modern society resembles the Biblical warning in which the government controls what you buy and what you say.

Source: InfoWars


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