Category: INTERNATIONAL
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Huawei to lose $30 billion revenue following US ban
China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year. Ren’s downbeat assessment that the ban will hit revenue by $30 billion, the first time Huawei has quantified the impact of the U.S. action, comes as…
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IMF warns of giant tech firms’ dominance
Giant technology companies might cause significant disruption to the world’s financial system, the head of the International Monetary Fund has warned. Christine Lagarde said just a few firms with big data access and artificial intelligence could run the global payment and settlement arrangements. Her warning came as the G20 finance ministers met in Japan. The…
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Protester confronts World’s Richest man Jeff Bezos on stage
An animal rights activist came within a few feet of Jeff Bezos, the world’s richest man, on a stage in Las Vegas. Priya Sawhney evaded event security, as well as some of Mr. Bezos’ personal detail, which costs a reported $1.6m (£1.25m) per year. “Jeff, you are the richest man on the planet,” Ms. Sawhney…
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Jaguar Land Rover and BMW join forces on electric cars
BMW and Jaguar Land Rover (JLR) are to join forces on developing electric car technologies. The car giants said they would work together to develop electric motors, transmissions and power electronics. Both firms have struggled to maintain profit margins amid falling car sales and higher costs as well as the need to invest in future…
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Consult extensively to ensure Ghana benefits from AfCFTA – Dr. Graham
The Third World Network, a pan-African research and advocacy organisation has charged government to exhaust all avenues for consultation with key stakeholders in the economy, to ensure that Ghana does not lose out following the coming into force of the African Continental Free Trade Area agreement on May 30, 2019. Ghana’s Parliament in April 2018…
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Be more vigilant to protect government’s revenue – Mining Stakeholders
Two former Chief Executive Officers of the Minerals Commission have warned that successive governments will continue to lose revenue from the mining sector if the appointment of directors to boards of mining companies continues to be politicized. The Vice President, Dr. Mahamudu Bawumia in May last year strongly indicated that government will not accept the…
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Boeing completes 737 Max software upgrade
Boeing has completed development of a software update for its 737 Max plane which was grounded following two fatal crashes within five months. The US firm announced that it had flown the 737 Max with the updated software on 207 flights. It added it would provide data to the Federal Aviation Administration (FAA) on how…
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Apple’s earnings would drop by nearly 30% if China bans its products, Goldman Sachs says
The U.S.-China trade war could take a big chunk out of Apple’s bottom line if China retaliates by banning its products, according to an analyst at Goldman Sachs. Analyst Rod Hall said in a note to clients that Apple’s earnings could drop by 29% if the company’s products were banned in mainland China. Apple’s China business…
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Huawei’s Android loss: How it affects you
The restrictions being placed on Huawei’s access to the Android operating system will cast a long shadow over Tuesday’s launch of the Chinese company’s latest handsets. The firm has invited press from across the globe to London to witness the unveiling of its Honor 20 Series smartphones. The BBC understands the devices will still offer…
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US ‘underestimates’ Huawei, founder says
Huawei founder Ren Zhengfei has remained defiant towards US moves against his company, saying the US “underestimates” its abilities. Speaking to Chinese state media, Mr Ren downplayed the impact of recent US curbs and said no-one could catch up to its 5G technology in the near future. Last week the US added Huawei to a…