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SoftBank Corp shares slide 10 percent on debut after record Japan IPO

“Following its $23.5 billion initial public offering, shares of the telecoms unit of SoftBank Group Corp fell as far as 1,344 yen five minutes into trade, or 10.4 percent lower than its IPO price of 1,500 yen” writes Midwest Communications Inc for 95kqds.com. TOKYO (Reuters) – SoftBank Corp shares slumped more than 10 percent in their debut on Wednesday, as investor appetite for Japan’s biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom gear maker Huawei.At 9:27 a.m. (0027 GMT),…

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Huawei rejects security concerns as US diplomats intensify pressure on Chinese telecom firm

“If you claim Huawei has security concerns, you should at least provide the evidence to support your argument,” Mr Hu told reporters” writes Matthew Field for telegraph.co.uk. The company says it is privately owned, with no direct links to Beijing, and has secured 25 global deals to supply 5G networks.The Chinese telecoms giant is confronting global pressure, facing being blocked from 5G networks in the US, Australia and New Zealand as US officials issue security warnings about the company. Source: telegraph.co.uk Share This:

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Xi Jinping promised ‘miracles’ in a gloating speech about China’s economy, but the markets slumped

“Jason Lee/Reuters Investors had been watching Xi’s speech for hints on how he would deal with China’s domestic economy, none of which came” writes Alexandra Ma for businessinsider.com. “As such, it is unlikely to galvanize financial markets anxious about the trajectory of China’s economic growth and prospects for the US-China trade talks.”. Xi’s speech marked 40 years since China’s opening up its economy to the rest of the world.Asian stocks edged down after Chinese President Xi Jinping made a gloating speech lauding his country’s economic progress, and promised to produce…

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Huawei to spend $2 billion over five years in cybersecurity push

“Wu said Huawei had secured more than 25 commercial contracts for 5G, slightly above the 22 the Chinese technology giant had announced in November” writes Midwest Communications Inc for 95kqds.com. Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones and unlike other big Chinese technology firms, derives half its revenue from overseas.Other media reported that the country’s three top operators planned not to use current equipment and upcoming 5G gear from Huawei, and that France was considering adding items to its “high-alert” list that…

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China’s Huawei announces small increase in new 5G customer base

“Unlike other big Chinese technology firms, it derives half of its revenue from overseas” writes Midwest Communications Inc for 95kqds.com. On Tuesday, Huawei said it expects revenue to exceed $100 billion this year, a 8.7 percent rise from last year.HONG KONG (Reuters) – Huawei Technologies [HWT.UL] on Tuesday said it has secured more than 25 commercial contracts for 5G, slightly above the 22 the Chinese technology giant had announced https://www.huawei.com/en/press-events/news/2018/11/Huawei-22-Commercial-Contracts-5G in November.Huawei is the world’s largest supplier of telecommunications network equipment and second-biggest maker of smartphones, with revenue of about…

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China’s Xi urges implementation of reform but offers no new measures

“In his speech, Xi enumerated the accomplishments of China’s development since it moved away from a planned economy, when basic goods were rationed and often scarce” writes Midwest Communications Inc for 95kqds.com. “We must, unswervingly, reinforce the development of the state economy while, unswervingly, encouraging, supporting and guiding the development of the non-state economy,” he said at Beijing’s Great Hall of the People. Source: 95kqds.com Share This:

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Qualcomm says Apple is violating Chinese court order despite software update

“Qualcomm said it believes Apple remains in violation of a Chinese court’s orders to stop selling iPhones despite a software update that Apple pushed on Monday” writes Feng Li for cnbc.com. Qualcomm on Dec. 10 said it had won a preliminary court order in China banning Apple from selling some older iPhone models that the court found violated two Qualcomm software patents.The Cupertino, California-based company said it believed it was in compliance with the court’s orders but that it would update its software “to address any possible concern about our…

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Qualcomm says Apple violating Chinese court order, despite new software

“(Reuters) – Qualcomm Inc said it believes Apple Inc remains in violation of a Chinese court’s orders to stop selling iPhones despite a software update that Apple pushed on Monday” writes Midwest Communications Inc for 95kqds.com. Qualcomm on Dec. 10 said it had won a preliminary court order in China banning Apple from selling some older iPhone models that the court found violated two Qualcomm software patents. Asked by Reuters about Qualcomm’s statements, Apple reiterated its earlier statements that it believes it is in compliance with the court order.Qualcomm believes…

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Google halted Chinese data collection program after Dragonfly backlash

“Google has halted a data collection project in China and struck a major blow to the controversial Dragonfly project, according to a new report from The Intercept” writes Dec Est for theverge.com. In the months that followed, Dragonfly has become a flashpoint for employee protests within Google, with more than 400 Google employees signing a letter in opposition to the project.It also generated significant internal concerns, with many employees seeing the site as a signal for Google’s advanced Chinese ambitions. Source: theverge.com Share This:

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Sources: Google’s plan for a censored search engine for China “effectively ended” after infighting, with a data analysis operation key to Dragonfly shuttering

“The engineers used the data they pulled from 265.com to learn about the kinds of things that people located in mainland China routinely search for in Mandarin” reports theintercept.com. According to two Google sources, engineers working on Dragonfly obtained large datasets showing queries that Chinese people were entering into the 265.com search engine.But the privacy team only found out about the 265.com data access after The Intercept revealed it, and were “really pissed,” according to one Google source. Source: theintercept.com Share This:

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