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☆ Huawei says applying 5G technology to business was more difficult than expected
▼ + stars: | 2023-06-29 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Huawei Technologies Chief Financial Officer Meng Wanzhou reacts as she leaves her home to attend a court hearing in Vancouver, Canada, August 10, 2021. SHANGHAI — Huawei's Chief Financial Officer Meng Wanzhou said Wednesday that applying 5G technology to business was more difficult than she had expected. One of the expectations for 5G connectivity is that beyond faster mobile phone connections for individual consumers, the technology can better enable self-driving vehicles and factory automation. Meng said the challenges of bringing 5G to business was underestimated and that it's completely different than previous 2G, 3G or 4G generations. Meng was speaking at a keynote session at the Shanghai Mobile World Congress on Wednesday, where she spoke broadly about the benefits of 5G to consumption and the economy.

Persons: Meng Wanzhou, SHANGHAI —, Meng Organizations: Huawei Technologies, Shanghai Mobile Locations: Vancouver, Canada, SHANGHAI

☆ Brazil's Americanas looking for buyer for stake in Grupo Uni.co
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

SAO PAULO, May 15 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA), which filed for bankruptcy earlier this year after an accounting scandal, said on Monday it has started the market sounding process to prospect parties interested in buying its stake in Grupo Uni.co. Americanas, which has the billionaire trio that founded 3G Capital as reference shareholders, said in a securities filing it had hired Citigroup (C.N) as financial advisor to conduct the process, launched as part of its reorganization plan. Reporting by Gabriel Araujo; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Qualcomm's disappointing guidance on slow China recovery will force our hand on the stock
▼ + stars: | 2023-05-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Revenue in the quarter fell about 17% year-over-year to $9.27 billion, beating analysts' forecasts of $9.1 billion, according to Refinitiv. In the quarter, Qualcomm won 12 new designs across its Snapdragon Cockpit and Snapdragon Connectivity 5G platforms with automakers. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ China launches weather satellite, flights avoid no-fly zone to north of Taiwan
▼ + stars: | 2023-04-16 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ann WangBEIJING/TAIPEI, April 16 (Reuters) - China launched a weather satellite on Sunday as civilian flights altered their routes to avoid a Chinese-imposed no-fly zone to the north of Taiwan which Beijing put in place because of the possibility of falling rocket debris. The no-fly announcement rattled regional nerves as it followed shortly after China staged new war games around Taiwan, which Beijing views as sovereign Chinese territory. Flights to and from Taiwan and China, Taiwan and South Korea and Taiwan and Japan were amongst those detouring around the zone on Sunday morning, according to routes tracked on Flightradar24. The zone is in an area over the East China Sea slightly northeast of Taiwan that routinely sees heavy civilian flight traffic. China has denounced what it has called hype around China's space activities and an attempt to escalate confrontation across the Taiwan Strait.

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Report on Americanas' woes to be presented to Brazil court next week
▼ + stars: | 2023-03-17 | by ( Rodrigo Viga Gaier | ) www.reuters.com time to read: +1 min

RIO DE JANEIRO, March 17 (Reuters) - A report detailing Brazilian retailer Americanas SA's (AMER3.SA) bankruptcy is being prepared by the trustee's team of over 100 experts and is expected to be presented to a Rio de Janeiro court next Monday, said a source close to the matter on Friday. "The final report will be closed and read on Monday before being presented to the court," said the source. Americanas, backed by the billionaire trio that founded investment firm 3G Capital, has accumulated debt of more than 40 billion reais. After the document is submitted, the court will set a deadline for Americanas to present its judicial recovery plan. On Thursday, Americanas' former chief executive testified at Brazil's securities watchdog, according to a source.

☆ Lenovo must pay $138.7 mln for InterDigital patents - London court
▼ + stars: | 2023-03-16 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 16 (Reuters) - China's Lenovo Group Ltd (0992.HK) must pay U.S. technology firm InterDigital Inc $138.7 million for a licence for its portfolio of telecommunications patents, London's High Court ruled on Thursday in the latest round of a long-running dispute. InterDigital (IDCC.O) brought the lawsuit against Lenovo in 2019 over the terms on which Lenovo should take a licence of its patents which are essential to 3G, 4G and 5G standards. The litigation, which has so far featured five separate trials, centres on the fair, reasonable and non-discriminatory (FRAND) terms of a licence for InterDigital's patents. He said Lenovo should pay a $138.7 million "lump sum" to cover past and future sales of mobile devices from 2007 until the end of 2023. Marfe added that "all eyes will be on the Unified Patent Court", a common patent court for European Union member states which opens in June, to see whether it takes a similar approach.

☆ Qualcomm looks to Europe court again to overturn antitrust fine
▼ + stars: | 2023-03-13 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

LUXEMBOURG, March 13 (Reuters) - U.S. chipmaker Qualcomm (QCOM.O) returned to Europe's second-top court on Monday seeking to overturn a 242-million-euro ($258.4 million) EU antitrust fine, a year after it convinced the same court to throw out a much bigger penalty in another antitrust case. Qualcomm lawyer Miguel Rato criticised the Commission's investigations against the company on the first day of the three-day hearing. The first was the exclusivity decision squashed by the Court," he told the General Court. "What price should Qualcomm have charged for each chipset and each quarter to allow it to pass the price cost test?" Qualcomm feared that if it did not take action, Icera would grow to expand and become a formidable rival," he said.

☆ Revolut's 2022 revenues grew by 33% despite crypto winter
▼ + stars: | 2023-03-01 | by ( Stefania Spezzati | ) www.reuters.com time to read: +3 min

"We have built a strong momentum," the 31-year-old executive said in an interview at Revolut's headquarters in London. Revolut will retain accounting firm BDO for the 2022 audit, it said. Revenues from its crypto business shrank in 2022 as the crypto-downturn hit the firm. In 2020, it made a loss of 223 million pounds, according to Revolut's accounts. The fintech company expects to publish its 2022 accounts by June, but it might take longer.

☆ Russia has been able to keep its most effective drone flying over Ukraine thanks to Western-made parts
▼ + stars: | 2023-02-27 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Ukraine and Russia have employed an array of drones since Moscow attacked in February 2022. Despite sanctions imposed by the US and its allies, Russia has been able to keep its most effective drone flying over Ukraine thanks to Western-made parts. The Orlan-10's specifications and characteristics in a graphic published by the Royal United Services Institute in December 2022. Russian intelligence services are likely involved in sourcing this technology through contacts and front companies around the world. Western-made components found in the Orlan-10, according to the Royal United Services Institute.

☆ Nokia signs deal with MTN to expand 5G in South Africa
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Feb 27 (Reuters) - Nokia (NOKIA.HE) said on Monday it has been selected by MTN South Africa (MTNJ.J) for the first time ever as one of its 5G radio access network equipment providers, as the mobile carrier expands next-generation wireless services across the country. "Under the deal, Nokia will modernise the existing 2G, 3G, 4G radio network and expand MTN's 5G radio network across 2,800 sites in the central and eastern part of the country," Nokia said in a statement. Nokia did not give financial details of the deal. MTN South Africa, the second biggest carrier in the country, snapped up airwaves worth 5.2 billion rand ($282.66 million) in a 14.4 billion rand spectrum auction in March last year. Even before the auction it had launched 5G services in select cities.

☆ A new documentary on Subway and Jared Fogle couldn't come at a worse time
▼ + stars: | 2023-02-25 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Jared Fogle became Subway's pitchman after losing 245 pounds by mostly eating the chain's subs. A Fogle documentary airing in March is bad timing for Subway as it looks for a buyer, analysts say. Yet, a ghost from Subway's past, Jared Fogle, is returning to haunt America's largest sub chain. The new documentary series promises to reveal the "rise and fall" of the former Subway pitchman who "masqueraded as a national hero while hiding a horrific side." Are you a Subway insider with insight to share?

☆ Air Force's aging E-3 Sentry stirs questions of airborne-battle readiness
▼ + stars: | 2023-02-10 | by ( Brad Howard | ) www.cnbc.com time to read: +2 min

For decades the U.S. Air Force has relied on the E-3 Sentry, and the most recent version, the E-3G, has been upgraded with more modern electronics and software to keep up with new threats. 'The best way to describe it is kind of like the quarterback in the sky," said Air Force Col. Keven Coyle, commander of the 552nd Air Control Wing. In the most recent budget, Congress appropriated an additional $200 million for the Air Force to develop a prototype to meet that need. A Royal Australian Air Force E-7A Wedgetail takes off during Black Flag 22-1 at Nellis Air Force Base, Nevada, May 10, 2022. A U.S. Air Force E-3G taxies on a runway at Tinker AFB By Brad Howard, CNBC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside the U.S. Air Force's E-3G SentryThe E-3 Sentry is nearing the twilight of it's career. The newest version, the E-3G, uses newer electronics and software to keep a watchful eye over friendly and unfriendly skies. But the Air Force is looking towards the future, and the Boeing E-7, a Airborne Early Warning & Control aircraft with a modern design, could be what is needed to keep pace with new threats around the world.

There are "continued calls for violence directed at U.S. critical infrastructure," the agency warned last February, "as a means to create chaos and advance ideological goals." Law enforcement and utility companies, though, say they're working to resolve the open cases and prevent future attacks. Members of accelerationist groups have been charged with several plots in recent years to attack critical infrastructure. "The critical infrastructure element has become one of the core components of neo-fascist accelerationist movements in the US. "They don't really care who is doing the violence, who's doing the critical infrastructure attacks, Lewis said.

☆ The price of a high-end iPhone has increased 66% since 2009. Tim Cook says people are willing to pay more for 'the best.'
▼ + stars: | 2023-02-06 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

Apple CEO Tim Cook said in an earnings call that people are willing to pay more for a better iPhone. The price of a high-end iPhone has increased by 66% since the iPhone 3GS was introduced in 2009. Today, the latest high-end iPhone model, the 14 Pro Max with 1 TB of storage, costs $1,600. When the iPhone X was introduced in 2018, the phone sold for $1,149, or around $1,376 in today's dollars. In 2013, the company introduced the iPhone 5C, which cost $100 less than the iPhone 5S.

☆ Brazil's Americanas board to remove top executives after accounting scandal
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Feb 3 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) said on Friday its board had decided to remove three directors and three executives amid investigations over so-called accounting inconsistencies. Americanas, backed by the billionaire trio that founded investment firm 3G Capital, entered bankruptcy protection last month after disclosing "inconsistencies" in its accounting worth 20 billion reais ($3.88 billion). In a securities filing, Americanas said three directors and three executives had been removed "from all their roles and activities at the company and its subsidiaries." Americanas said it had also removed executives Fabio da Silva Abrate, Flavia Carneiro and Marcelo da Silva Nunes. Americanas added that it has hired a forensic expertise institute and a consultancy to protect company data while its reorganization and legal procedures take place.

Nanoco and Chicago-based litigation funding firm GLS Capital said in a release that the settlement, which includes a license agreement and the "transfer of certain patents," resolves litigation in the United States, Germany and China. Nanoco's quantum dots improve the backlighting of LED displays without the use of toxic heavy metals like cadmium. The Texas lawsuit said Samsung began incorporating Nanoco's technology into high-end QLED TVs launched in 2017. Third-party funding of lawsuits has becoming increasingly common in recent years, though details about specific investments are rarely publicized. The case is Nanoco Technologies Ltd v. Samsung Electronics Co, U.S. District Court for the Eastern District of Texas, No.

☆ Qualcomm revenue falls 12%, guidance implies more pain this quarter
▼ + stars: | 2023-02-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Here's how the company did:Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. $2.37 per share, adjusted, vs. $2.34 per share as expected by analysts, according to Refinitiv. Revenue: $9.46 billion, vs. $9.60 billion as expected by analysts, according to Refinitiv. Qualcomm's overall revenue decreased 12% year over year in the quarter, which ended Dec. 25, according to a statement. In the quarter Qualcomm and Renault Group announced an extension of their collaboration and said Qualcomm would invest in Ampere, the automaker's electric and software company.

☆ Brazil's Americanas requests financing of at least $197 mln -filing
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Jan 31 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) has requested debtor-in-possession financing of at least 1 billion reais ($197.12 million) as part of its bankruptcy process, according to a securities filing Tuesday. The financing aims to help the company maintain the "normal course of its business and reinforce its liquidity," the firm said. Americanas, backed by the billionaire trio that founded investment firm 3G Capital, entered bankruptcy protection this month after disclosing "inconsistencies" in its accounting, leading top investors such as BlackRock (BLK.N) and Capital Group to scale back their positions in the firm. It added it has been in talks with reference shareholders - Brazilian billionaires Jorge Paulo Lemann, Marcel Telles and Carlos Alberto Sicupira, the founders of 3G Capital - about the possibility of them subscribing up to the totality of the financing minimum amount. ($1 = 5.0731 reais)Reporting by Carolina Pulice and Gabriel Araujo; Editing by Isabel Woodford and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ Brazilian court orders seizure of emails of bankrupt retailer Americanas
▼ + stars: | 2023-01-26 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 26 (Reuters) - A Brazilian court has ordered the seizure of all corporate emails of managers and board members from bankrupt retailer Americanas SA (AMER3.SA) sent and received over the last 10 years, according to documents seen by Reuters. Bradesco said it was seeking evidence for potential litigation against Americanas, its managers, and potentially its controlling shareholders over "abuse of power." Americanas' largest shareholders are the billionaire founders of 3G Capital, Jorge Paulo Lemann, Carlos Alberto Sicupira and Marcel Telles. The judge also ordered the seizure of all emails of employees in the finance and accounting division. Americanas is one of Brazil's largest retailers and has been in business for over 90 years.

☆ Bankrupt Brazilian retailer Americanas owes about $8 bln, court finds
▼ + stars: | 2023-01-25 | by ( Gabriel Araujo | ) www.reuters.com time to read: +3 min

SAO PAULO, Jan 25 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) owes a variety of creditors around $8 billion, a Rio de Janeiro court said on Wednesday, providing the most detailed picture yet of the banks and other groups exposed to the company's bankruptcy. The list provided on Wednesday includes roughly 41.2 billion reais ($8.1 billion) in debt, according to the court, which initially did not disclose the names of the creditors. Brazilian banks BTG Pactual (BPAC3.SA), Bradesco (BBDC4.SA) and Santander Brasil (SANB3.SA) - which analysts previously said were among the most exposed - were also listed, with debts of more than 3.5 billion reais each. Earlier this week, Capital International Investors also announced it had reduced its position in Americanas to 4.07% from 7.04%. Shares in Americanas were up 20% to 0.96 real on Wednesday, but still down roughly 90% year-to-date.

☆ Brazilian retailer Americanas reports 7,720 creditors, $8 bln in debt
▼ + stars: | 2023-01-25 | by ( Gabriel Araujo | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 25 (Reuters) - Brazilian retailer Americanas SA (AMER3.SA) reported 7,720 creditors and debt totaling nearly $8 billion within its restructuring process, a Rio de Janeiro court said on Wednesday. Deutsche Bank (DBKGn.DE) topped the list of creditors initially revealed by Americanas, but the German lender later said it had no lending relationship or credit exposure to the Brazilian company. The list provided on Wednesday included roughly 41.2 billion reais ($8.1 billion) in debt, according to the court, which initially did not disclose the names of the creditors. Later, however, Americanas revealed the full list in a securities filing, ranging from small debts with individuals and cities to multibillion-reais debts with banks. Deutsche Bank appeared with a $1 billion debt, but said in an emailed statement that it had no direct exposure to the Brazilian firm.

☆ Verizon Adds Subscribers as Earnings Guidance Falls Short of Forecasts
▼ + stars: | 2023-01-24 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Verizon expects 2023 adjusted earnings of $4.55 to $4.85 a share, below Wall Street expectations of $4.96 a share. Verizon Communications Inc. posted higher revenue for the recently ended quarter as the company added to its industry-leading base of subscribers. Verizon reported a net gain of 217,000 phone connections under postpaid billing plans during the December quarter, excluding the impact from the decommissioning of the company’s 3G network. The gains marked a reacceleration of growth in the company’s consumer-focused unit, which Chief Executive Hans Vestberg took over last month.

☆ Americanas' billionaire shareholders say they were unaware of accounting problems
▼ + stars: | 2023-01-23 | by ( Tatiana Bautzer | ) www.reuters.com time to read: +2 min

SAO PAULO, Jan 23 (Reuters) - Americanas SA (AMER3.SA) three largest shareholders, the billionaire founders of 3G Capital, said on Sunday they had not known of $4 billion in accounting 'inconsistencies' at the Brazilian retailer. "We didn't know of and would never allow any accounting manipulation in the company", the statement said. It said Americanas had been audited by PwC and that the retailer's "banks and auditors never reported any problems". Securities industry regulator CVM has also launched probes into Americanas, which has seen its stock lose more than 90% of its value since the news of the accounting problems emerged. 3G Capital itself has no stake in Americanas.

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