|Bid||20.550 x 0|
|Ask||20.600 x 0|
|Day's Range||20.250 - 21.150|
|52 Week Range||10.740 - 27.700|
|Beta (3Y Monthly)||1.54|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.38 (1.62%)|
|1y Target Est||N/A|
Chinese telecom equipment firm ZTE Corp warned on Wednesday that the Italian government's newly strengthened power to intervene in the development of fifth-generation telecoms networks may further delay 5G mobile services in the country. Under its beefed-up "golden power", Rome decreed that it could block 5G deals involving non-European firms on national interest grounds. It acted out of concerns over the potential involvement of ZTE and another Chinese equipment maker, Huawei Technologies, a government source has said.
On Thursday night, the government used an urgent legislative decree to strengthen its existing power to intervene in the private sector to defend national security and other national interests. The decree did not mention Huawei or ZTE.
In Argentina's remote northern province of Jujuy, Chinese telecoms giant ZTE is installing a little slice of the Asian nation's vast surveillance state - security cameras that the local government says will help to curb street crime. ZTE Corp sealed a nearly $30 million (£24 million) surveillance contract with Jujuy in March to provide cameras, monitoring centres, emergency services, and telecommunications infrastructure.
“It’s possible that Huawei even would be included in some kind of a trade deal,” Trump told reporters at the White House, without providing details. The Trump administration is seeking to choke off Beijing’s access to key technologies by limiting the sale of vital U.S. components to the Chinese telecommunications equipment maker over security concerns. The U.S. had held off on blacklisting Huawei out of concern the move could disrupt trade negotiations with China and only took action after the last round of trade talks hit an impasse, according to people familiar with the matter.
A bipartisan group of U.S. lawmakers introduced legislation on Wednesday to provide about $700 million in grants to help U.S. telecommunications providers with the cost of removing Huawei equipment from their networks. The bill also moves to block the use of equipment or services from Chinese telecoms firms Huawei and ZTE in next-generation 5G networks, according to a statement by the senators. The United States has accused ZTE Corp and Huawei Technologies Co Ltd of working for the Chinese government and has expressed concern their equipment could be used to spy on Americans, allegations the Chinese government and the companies say are baseless.
The bill also moves to block the use of equipment or services from Chinese telecoms firms Huawei and ZTE in next-generation 5G networks, according to a statement by the senators. The United States has accused ZTE Corp and Huawei Technologies Co Ltd of working for the Chinese government and has expressed concern their equipment could be used to spy on Americans, allegations the Chinese government and the companies say are baseless. Mark Warner, the top Democrat on the Senate Intelligence Committee, and Roger Wicker, Republican chairman of the Senate Commerce Committee, are also backing the bill.
SHANGHAI/NEW YORK (Reuters) - The United States has temporarily eased trade restrictions on China's Huawei to minimize disruption for its customers, a move the founder of the world's largest telecoms equipment maker said meant little because it was already prepared for U.S. action. The U.S. Commerce Department blocked Huawei Technologies Co Ltd from buying U.S. goods last week, a major escalation in the trade war between the world's two top economies, saying the firm was involved in activities contrary to national security. The two countries increased import tariffs on each other's goods over the past two weeks after U.S. President Donald Trump said China had reneged on earlier commitments made during months of negotiations.
The U.S. government has temporarily eased trade restrictions imposed last week on China's Huawei, a move aimed at minimizing disruption for its customers but dismissed by its founder who said the tech firm had prepared for U.S. action. The U.S. Commerce Department will allow Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets. The U.S. government said it imposed the restrictions because of Huawei's involvement in activities contrary to national security or foreign policy interests.
Optimists expect Trump to let Huawei off the hook eventually after using the company as a bargaining chip to squeeze trade concessions from Beijing, in the same way that he did with the smaller Chinese electronics maker ZTE Corp. last year. It’s unlikely to play out that way, though. the U.S. administration’s twin decisions last week to halt the use of Huawei equipment and block the sale of components to the Chinese company are a major escalation beyond trade-war posturing. There are key differences with ZTE. For one thing, Huawei hasn’t been directly accused of any wrongdoing.
Apple Face ID parts supplier Lumentum Holdings Inc followed Google on Monday in clamping down on the business it does with Huawei Technologies , after U.S. President Donald Trump imposed a ban on the Chinese firm on national security grounds. A source told Reuters on Sunday that Google had suspended business with Huawei that requires the transfer of hardware, software and technical services, except those publicly available via open source licensing.
U.S. Senator Mark Warner said on Sunday that he has been organizing meetings between U.S. intelligence officials and the country's business and academic communities to urge caution in their relationships with China. "I have been convening meetings between the intelligence community and outside stakeholders in business and academia to ensure they have the full threat picture and hopefully, make different decisions about Chinese partnerships," Warner said in a statement. Accusing China of undermining U.S. security, Warner, a Democrat, said the meetings were aimed at increasing awareness about tactics used by China against the United States.
Huawei Technologies' founder and chief executive Ren Zhengfei said on Saturday the growth of the Chinese tech giant "may slow, but only slightly" due to recent U.S. restrictions. In remarks to the Japanese press and reported https://s.nikkei.com/2VMJSaT by Nikkei Asian Review, Ren reiterated that the Chinese telecom equipment maker has not violated any law. "It is expected that Huawei's growth may slow, but only slightly," Ren told Japanese media in his first official comments after the U.S. restrictions, adding that the company's annual revenue growth may undershoot 20%.
“Huawei’s growth may slow, but only slightly,” Ren told Japanese reporters at the telecommunications equipment maker’s headquarters in Shenzhen, China, according to Nikkei. It was his first media statement since President Donald Trump and the U.S. Commerce Department imposed restrictions on May 15.
Huawei Technologies' chip arm HiSilicon said on Friday it has long been prepared for the "extreme scenario" that it could be banned from purchasing U.S. chips and technology, and is able to ensure steady supply of most products. HiSilicon, which mainly designs chips for Huawei equipment, made the comments in a letter to staff attributed to President He Tingbo dated "the small hours of May 17," shortly after the United States officially banned Huawei from buying U.S. technology without special approval.
WASHINGTON/NEW YORK, May 16 (Reuters) - The Trump administration on Thursday officially added China's Huawei Technologies Co Ltd to a trade blacklist, immediately enacting restrictions that will make it extremely difficult for the telecom giant to do business with U.S. companies. The Commerce Department issued a rule, promised on Wednesday, putting Huawei and 68 affiliates in more than two dozen countries on its so-called Entity List, a move that bans the company from buying parts and components from American firms without U.S. government approval. The U.S. government will review license applications under a "policy of presumption of denial," according to a posting on the Federal Register.
HONG KONG/BEIJING (Reuters) - The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world's top supplier of telecoms network equipment. The Trump administration has said it would add Huawei Technologies and 70 affiliates to its "Entity List" - a move that will likely ban the firm from acquiring U.S. components and technology without government approval, adding another incendiary element to the U.S.-China trade war. A similar U.S. ban on China's ZTE Corp had almost crippled business for the smaller Huawei rival early last year before the curb was lifted.
* Huawei says sources $11 bln worth of goods from U.S. HONG KONG/BEIJING, May 16 (Reuters) - The latest U.S. broadside against Huawei that puts the Chinese firm on an exports blacklist threatens to rattle the global tech supply chain, linked closely to the $105 billion business of the world's top supplier of telecoms network equipment. The Trump administration has said it would add Huawei Technologies and 70 affiliates to its "Entity List" - a move that will likely ban the firm from acquiring U.S. components and technology without government approval, adding another incendiary element to the U.S.-China trade war.
WASHINGTON/NEW YORK (Reuters) - The Trump administration on Wednesday took aim at China’s Huawei Technologies Co Ltd, banning the firm from buying vital U.S. technology without special approval and effectively barring its equipment from U.S. telecom networks on national security grounds. Taken together, the two moves threaten Huawei's ability to continue to sell many products because of its reliance on American suppliers, and represents a significant escalation in the U.S. government's worldwide campaign against the company. The steps also come at a delicate time in relations between China and the United States as the world's two largest economies ratchet up tariffs in a battle over what U.S. officials call China's unfair trade practices.
WASHINGTON/NEW YORK (Reuters) - The U.S. Commerce Department said on Wednesday it is adding Huawei Technologies Co Ltd and 70 affiliates to its so-called “Entity List” - a move that bans the telecom giant from buying parts and components from U.S. companies without U.S. government approval. U.S. officials told Reuters the decision would also make it difficult if not impossible for Huawei, the largest telecommunications equipment producer in the world, to sell some products because of its reliance on U.S. suppliers. Under the order that will take effect in the coming days, Huawei will need a U.S. government license to buy American technology.
The U.S. president signed an order Wednesday that’s expected to restrict Huawei and fellow Chinese telecommunications company ZTE Corp. from selling their equipment in the U.S. Shortly afterward, the Department of Commerce said it had put Huawei on a blacklist that could forbid it from doing business with American companies. The pair of actions risk aggravating Beijing as the American president seeks to pressure China’s leaders into agreeing to a wide-ranging trade deal.