Category: Technology

Top investors lose $1 billion as China’s Nasdaq-style board reverses on day two

WallStreetReview
Top investors lose $1 billion as China’s Nasdaq-style board reverses on day two
SHANGHAI (Reuters) – The biggest shareholders in China’s new Nasdaq-style STAR Market lost a combined $1 billion in the second day of trade on Tuesday, a day after the board’s roaring debut created three new billionaires. FILE PHOTO: A sign for STAR Market, China’s new Nasdaq-style tech board, is seen after the listing ceremony of the first batch of companies... Read More

Huawei head says group can sign ‘no backdoor’ deal with any country: Italy paper

WallStreetReview
Huawei head says group can sign ‘no backdoor’ deal with any country: Italy paper
FILE PHOTO: Huawei founder Ren Zhengfei attends a panel discussion at the company headquarters in Shenzhen, Guangdong province, China June 17, 2019. REUTERS/Aly Song/File Photo MILAN (Reuters) – Huawei Technologies, the Chinese technology and telecoms group under pressure from the United States, is ready to sign a “no backdoor” agreement with any country, its founder told an Italian newspaper on... Read More

Warren Buffett’s charity lunch with cryptocurrency entrepreneur postponed

WallStreetReview
Warren Buffett’s charity lunch with cryptocurrency entrepreneur postponed
FILE PHOTO: Warren Buffett, Chairman, CEO and largest shareholder of Berkshire Hathaway takes part in interviews before a fundraising luncheon for the nonprofit Glide Foundation in New York September 8, 2015. REUTERS/Lucas Jackson/File Photo HONG KONG (Reuters) – Cryptocurrency entrepreneur Justin Sun has postponed his $4.57 million charity lunch with Warren Buffett due to ill health, according to a tweet... Read More

Power traders tackle renewables puzzle in Danish ‘Silicon Valley’

WallStreetReview
Power traders tackle renewables puzzle in Danish ‘Silicon Valley’
AARHUS, Denmark (Reuters) – Far from the sprawling financial hubs of London or Frankfurt, high-tech traders in the Danish university city of Aarhus are driving rapid change in European power markets, easing the shift to renewables with technology that also carries some risks. FILE PHOTO: View of Aboulevarden in the centre of the city of Aarhus, Denmark July 10, 2019.... Read More

Huawei’s U.S. research arm slashes jobs as trade ban bites

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Huawei’s U.S. research arm slashes jobs as trade ban bites
SANTA CLARA, Calif./HONG KONG (Reuters) – China’s Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government. Futurewei, which has offices in Silicon Valley and the greater Seattle, Chicago and Dallas areas, said it cut more than 600 jobs. The unit, set up... Read More

Your Money: Families need to brush up on student loan literacy

WallStreetReview
Your Money: Families need to brush up on student loan literacy
NEW YORK (Reuters) – For Americans worried about the escalating price of a college education, here’s good news: Tuition for the typical family barely budged in the past year, following years of out-of-control U.S. tuition inflation. FILE PHOTO: A graduating student waits to cross the street before Commencement Exercises at the Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts, U.S.,... Read More

Huawei’s U.S. research arm slashes more than 70% of workforce

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Huawei’s U.S. research arm slashes more than 70% of workforce
SANTA CLARA, Calif. (Reuters) – China’s Huawei Technologies Co Ltd said it is slashing more than 600 jobs at its Futurewei Technologies research arm in the United States after being placed on a trade blacklist by the U.S. government. Futurewei, which employed 850 people in the United States, began laying off workers on Monday, Reuters reported earlier, citing employees, including... Read More

Trump agrees to prompt responses to license requests for Huawei sales

WallStreetReview
Trump agrees to prompt responses to license requests for Huawei sales
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 the Department of Commerce,” the... Read More

Trump meets with tech CEOs on Huawei

WallStreetReview
Trump meets with tech CEOs on Huawei
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 on United States telecom equipment... Read More

Huawei’s U.S. research arm sends workers packing

WallStreetReview
Huawei’s U.S. research arm sends workers packing
SANTA CLARA, Calif. (Reuters) – Futurewei Technologies Inc, the U.S. research arm of China’s Huawei Technologies Co Ltd, began laying off workers on Monday, according to employees including one who spoke to Reuters as he left the company’s Silicon Valley campus. The Silicon Valley office of Huawei and its U.S. subsidiary Futurewei Technologies Inc. in Santa Clara, California, U.S., July... Read More