|Day's Range||27.45 - 29.60|
Huawei has finally gone on the record about a ban on its use of Android, butthe company's long-term strategy on mobile still remains unclear
Huawei was already facing serious trouble following the Trump administration's de facto ban , but it might get considerably worse. Reuters sources claim Google has suspended transactions with Huawei that require transferring proprietary hardware and software, hobbling much of its smartphone business outside of China. It "immediately" loses access to future OS updates beyond the Android Open Source Project, according to the insider, and upcoming phones would have to go without official apps like the Google Play Store and Gmail.
Huawei said on Monday it would continue to provide security updates and services for its smartphones and tablets after being barred from Google updates to its Android operating system. "Huawei will continue to provide security updates and after-sales services to all existing Huawei and Honor smartphone and tablet products, covering those that have been sold and that are still in stock globally," a Huawei spokesman said by email. "We will continue to build a safe and sustainable software ecosystem, in order to provide the best experience for all users globally," said Huawei, which is the world's second-biggest smartphone maker after Samsung and aspires to the top position.
BEIJING/WASHINGTON, May 20 (Reuters) - China accused the United States on Monday of harboring "extravagant expectations" for a trade deal, underlining the gulf between the two sides as U.S. action against China's technology giant Huawei began hitting the global tech sector. Adding to bilateral tension, the U.S. military said one of its warships sailed near the disputed Scarborough Shoal claimed by China in the South China Sea on Sunday, the latest in a series of "freedom of navigation operations," angering Beijing.
U.S. stock futures declined on Monday as last week's move by the White House to remove tariffs on steel imports from Canada and Mexico failed to lift optimism for a near-term breakthrough in trade talks with China. Contracts tied to the Dow Jones Industrial Average fell 50 points, futures for the S&P 500 were down 4.50 points, and Nasdaq futures declined 30.25 points. Donald Trump said Sunday in an interview with Fox News that tariffs were "totally killing" China and causing U.S. companies to move production facilities to other countries in the region, such as Vietnam.
Salvini pledged at a pan-European rally of 12 nationalist parties in his hometown Milan on Saturday to push through the flat tax, a measure likely to raise concerns both in Brussels and among investors on how the government will draft the 2020 budget against the backdrop of a sluggish economy. “The only way to create jobs is to reduce taxes, so we need to change some European rules and some limits imposed by Brussels,” Salvini told La7 television on Monday.
Chipmakers including Intel Corp., Qualcomm Inc., Xilinx Inc. and Broadcom Inc. have told their employees they will not supply Huawei till further notice, according to people familiar with their actions. Alphabet Inc.’s Google cut off the supply of hardware and some software services to the Chinese giant, another person familiar said, asking not to be identified discussing private matters.
Google is assuring users of Huawei smartphones the American company's basic services will work on them following U.S. government restrictions on doing business with the Chinese tech giant. Google, a unit of Alphabet Inc., said Monday it is complying with and "reviewing the implications" of the requirement for export licenses for technology sales to Huawei Technologies Ltd. Last week's order follows U.S. government accusations that Huawei, the biggest maker of network gear for phone companies and the No. 2 global smartphone brand, is a security risk.
Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the U.S. government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters. "For users of our services, Google Play and the security protections from Google Play Protect will continue to function on existing Huawei devices," the spokesperson said, without giving further details.
Google has dealt a blow to Huawei’s fast-growing consumer smartphone business by suspending the delivery of key software and technical services to the Chinese company, according to two people familiar with the situation. Huawei, which overtook Apple to become the world’s number two smartphone maker in the second quarter of last year, according to Gartner, relies on Google’s Android operating system for its phones — of which it shipped more than 200m last year. Google’s move means Huawei would only have access to the basic, publicly available version of Android.
The Dow, S&P, and Nasdaq futures were slightly lower in premarket trading. Pinduoduo, Game Technology, and Qudian are among some of the companies scheduled to report their latest quarterly figures before the bell. U.S. stock index futures were slightly lower Monday morning, as concerns about an intensifying fallout from a U.S. crackdown on Huawei weighed on market sentiment.
“Some interesting opportunities are beginning to present themselves in some spots of the EM universe, but over the coming weeks it feels like caution is warranted,” said Paul Greer, a London-based money manager at Fidelity International, whose emerging-market debt fund has outperformed 98% of peers this year after reducing risk in recent months. Developing-nation currencies relinquished all of their 2019 gains amid growing pessimism over the prospect of a trade deal between the world’s two largest economies, while stocks and local-currency bonds fell to the lowest level since January.
Google has suspended business activity with Huawei that involves the transfer or hardware, software and key technical services. Google's GOOGL move to stop licensing its Android mobile operating system to Huawei could deal a huge blow to the Chinese tech giant's ambitions to become the top player in smartphones globally.
Alphabet Inc.'s Google has revoked Huawei Technologies Inc.'s Android license, Reuters reported Sunday, in a move that could cripple the Chinese tech giant's smartphone business. The move was later confirmed by The Verge. Huawei will be restricted to using only the public, open-source version of Android, Reuters said. Effectively, it means that Huawei will be immediately cut off from receiving Android system updates, including security updates, and future versions of Huawei smartphones will not be able to use YouTube, Gmail and the Google Play store, among other features. Later Sunday night, Bloomberg News reported other U.S. tech companies, such as chip makers Intel Corp. , Qualcomm Corp. , Broadcom Inc. and Xilinx Inc. have frozen the supply of critical software and hardware components to Huawei. Last week, the Trump administration moved to restrict U.S. technology sales to Huawei and certain other foreign-owned companies. The U.S. has long claimed that telecom equipment from Huawei poses a national security risk.
As Europeans prepare to elect a new EU parliament this week, the world’s biggest tech companies say they have yet to see any mass campaign to subvert or suppress the vote. There were fears that the poll, in which 427m citizens, would be a particular target because of the difficulty in policing content posted in dozens of languages across 28 EU countries. With EU politicians pressing them to take action, Facebook, Twitter and Google all set up specialist teams to search for evidence of malicious propaganda.
Investing.com - Shares of the Hong Kong-listed Tencent Holdings Ltd (HK:0700) fell 2.5% on Monday in Asia, after plunging about 7% last week following the release of a weak quarterly earnings report.
The ASX 200 in Australia rose after the country's conservative coalition secured an outright parliamentary majority on Monday following a shock election victory. Over in India, the Nifty 50 jumped after exit polls showed Prime Minister Narendra Modi likely to return to power following the country's general election. Over the weekend, Reuters reported that Alphabet's Google has suspended some business with Chinese telecommunications giant Huawei.