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Huawei lays off 70% of American research unit staff amid ongoing US crackdown on Chinese firm

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Huawei has laid off around 70 percent of staff at its Futurewei Technologies research arm in the US. Despite recent signals that Washington was easing pressure on the Chinese tech giant, the ban is still in force. The Huawei-owned US firm cut 600 of its 850-strong workforce, with the first employees having left the offices Read More

Trump agrees to prompt responses to license requests for Huawei sales

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WASHINGTON (Reuters) – President Donald Trump agreed at a meeting with the heads of top technology companies like Google on Monday to make “timely” decisions on requests by U.S. companies to sell to blacklisted Huawei Technologies Co Ltd, the White House said. But even as the CEOs of the companies “requested timely licensing decisions from Read More

Trump meets with tech CEOs on Huawei

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WASHINGTON (Reuters) – U.S. President Donald Trump met on Monday with the chief executives of seven technology companies and he agreed with their request for timely licensing decisions from the Commerce Department on blacklisted Chinese firm Huawei Technologies, the White House said. “The CEOs expressed strong support of the President’s policies, including national security restrictions Read More

Trump expected to attend White House tech meeting where Huawei will be discussed: sources

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WASHINGTON (Reuters) – U.S. President Donald Trump is expected to drop in on a Monday meeting of top technology companies, including the chief executives of Intel Corp and Broadcom Inc, held to discuss blacklisted Huawei Technologies Co Ltd and other topics, two people briefed on the matter said. FILE PHOTO: U.S. President Donald Trump Read More

White House to host meeting with tech executives on Huawei ban: sources

4 days ago DieselGasoil Comments Off on White House to host meeting with tech executives on Huawei ban: sources
WASHINGTON (Reuters) – White House economic adviser Larry Kudlow will host a meeting with semiconductor and software executives on Monday to discuss the U.S. ban on sales to China’s Huawei Technologies Co Ltd, two sources briefed on the meeting said on Friday. A Huawei logo is pictured at their store at Vina del Mar, Chile Read More

EU Commission fines Qualcomm for second time over market abuse

6 days ago DieselGasoil Comments Off on EU Commission fines Qualcomm for second time over market abuse
FILE PHOTO: A sign on the Qualcomm campus is seen in San Diego, California, U.S. November 6, 2017. REUTERS/Mike Blake/File Photo BRUSSELS (Reuters) – Qualcomm (QCOM.O), the world’s no.1 chipmaker, was fined 242 million euros ($272 million) on Thursday for blocking a rival from the market about a decade ago, its second EU antitrust penalty. Read More

Qualcomm set to face second EU antitrust fine shortly: sources

6 days ago DieselGasoil Comments Off on Qualcomm set to face second EU antitrust fine shortly: sources
FILE PHOTO: Signs of Qualcomm and 5G are pictured at Mobile World Congress (MWC) in Shanghai, China June 28, 2019. REUTERS/Aly Song/File Photo BRUSSELS (Reuters) – Qualcomm, the world’s no.1 chipmaker, could be hit with a second EU antitrust fine as soon as Thursday for blocking a rival from the market more than a decade Read More

Wall St. falls as CSX results point to damage from trade tensions

6 days ago DieselGasoil Comments Off on Wall St. falls as CSX results point to damage from trade tensions
NEW YORK (Reuters) – U.S. stock indexes dipped on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 1, 2019. REUTERS/Brendan McDermid CSX Read More

Wall St. flat as railroads slide after CSX signals trade impact

7 days ago DieselGasoil Comments Off on Wall St. flat as railroads slide after CSX signals trade impact
(Reuters) – U.S. stocks treaded water on Wednesday as trade-related weakness hurt CSX Corp’s profit, leading to a decline in railroad stocks and offsetting gains in shares of Abbott and Qualcomm. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 1, 2019. REUTERS/Brendan McDermid Shares of CSX Read More

Futures flat as investors weigh bank results

7 days ago DieselGasoil Comments Off on Futures flat as investors weigh bank results
(Reuters) – Worries about the balance of monetary policy and growth kept U.S. stock futures flat on Wednesday, subduing the impact of solid results from Bank of America and a boost for chipmakers from Dutch company ASML. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July 1, Read More