Google reverses decision to cut ties with Huawei after US eases trade restrictions

Alphabet Inc’s Google said Tuesday that it plans to work with China’s Huawei over the next 90 days, shortly after the U.S. temporarily eased some trade restrictions on the world’s second-largest smartphone maker. The move marks a sudden and dramatic turnabout for the U.S. tech conglomerate. On Sunday, Google said it would cut ties with Huawei in order to comply with Washington’s decision to put China’s telecom giant on the so-called Entity List. However, shortly thereafter, the U.S. Commerce Dep


Alphabet Inc’s Google said Tuesday that it plans to work with China’s Huawei over the next 90 days, shortly after the U.S. temporarily eased some trade restrictions on the world’s second-largest smartphone maker. The move marks a sudden and dramatic turnabout for the U.S. tech conglomerate. On Sunday, Google said it would cut ties with Huawei in order to comply with Washington’s decision to put China’s telecom giant on the so-called Entity List. However, shortly thereafter, the U.S. Commerce Dep
Google reverses decision to cut ties with Huawei after US eases trade restrictions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: sam meredith
Keywords: news, cnbc, companies, trade, eases, reverses, ties, cut, updates, shortly, security, software, decision, phones, license, existing, restrictions, work, google, huawei


Google reverses decision to cut ties with Huawei after US eases trade restrictions

Alphabet Inc’s Google said Tuesday that it plans to work with China’s Huawei over the next 90 days, shortly after the U.S. temporarily eased some trade restrictions on the world’s second-largest smartphone maker.

The move marks a sudden and dramatic turnabout for the U.S. tech conglomerate. On Sunday, Google said it would cut ties with Huawei in order to comply with Washington’s decision to put China’s telecom giant on the so-called Entity List.

However, shortly thereafter, the U.S. Commerce Department announced it had granted a 90-day license for mobile phone companies and internet broadband providers to work with Huawei to keep existing networks online and protect users from security risks.

The exemption allows Google to send software updates to Huawei phones which use its Android operating system through to August 19.

“Keeping phones up to date and secure is in everyone’s best interests and this temporary license allows us to continue to provide software updates and security patches to existing models for the next 90 days,” a Google spokesperson told CNBC in an email on Tuesday.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: sam meredith
Keywords: news, cnbc, companies, trade, eases, reverses, ties, cut, updates, shortly, security, software, decision, phones, license, existing, restrictions, work, google, huawei


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Oprah to the Class of 2019: Don’t wait for your ‘big break’

When Winfrey spoke to the Colorado College Class of 2019 on Sunday, she again gave practical advice. Yes, you need to look people in the eye when you speak to them. Winfrey also gave the students a sober reminder that their dreams won’t come true overnight. “I’m here to tell you that your life isn’t some big break, like everybody tells you that is,” she told the crowd. Winfrey stressed to the students that success, and service, takes time.


When Winfrey spoke to the Colorado College Class of 2019 on Sunday, she again gave practical advice. Yes, you need to look people in the eye when you speak to them. Winfrey also gave the students a sober reminder that their dreams won’t come true overnight. “I’m here to tell you that your life isn’t some big break, like everybody tells you that is,” she told the crowd. Winfrey stressed to the students that success, and service, takes time.
Oprah to the Class of 2019: Don’t wait for your ‘big break’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: abigail hess
Keywords: news, cnbc, companies, dont, decision, 2019, break, successful, students, class, oprah, wait, big, success, life, truth, look, gave, winfrey, need


Oprah to the Class of 2019: Don't wait for your 'big break'

Oprah Winfrey has given a lot of graduation speeches.

In 2018, the media mogul emphasized to the University of Southern California, Annenberg School for Communication and Journalism Class of 2018 the importance of working hard in their first jobs. When Winfrey spoke to the Colorado College Class of 2019 on Sunday, she again gave practical advice.

“Yes, it does pay to floss. Yes, you need to look people in the eye when you speak to them. You need to keep your commitments, you need to make your bed every day because when you do, it makes your whole house look better. And you need to leave your cell phone away at the dinner table,” she said.

Winfrey also gave the students a sober reminder that their dreams won’t come true overnight. “I’m here to tell you that your life isn’t some big break, like everybody tells you that is,” she told the crowd.

“It’s about taking one big life transforming step at a time,” said Winfrey. “But the truth is you cannot fix everything. What you can do here and now is make a decision — because life is about decisions — and the decision that you can make is to use your life in service.”

Winfrey stressed to the students that success, and service, takes time.

“The truth is, success is a process — you can ask anybody who’s been successful,” she said, pointing to successful restaurateur Danny Meyer, whose son was among the graduates.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: abigail hess
Keywords: news, cnbc, companies, dont, decision, 2019, break, successful, students, class, oprah, wait, big, success, life, truth, look, gave, winfrey, need


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UK says it will make its own decision on 5G and Huawei

The U.K. government said it will make its own decision as to whether to include Huawei technology as it builds out its 5G network. The United States has asked allies to reject Huawei’s infrastructure on fears it could open up avenues to Chinese spying, a claim the tech firm has repeatedly rejected. The U.S. has even blacklisted Huawei, among other firms, effectively blocking the company from sourcing components and tech from America. The U.S. Commerce Department said in a statement Wednesday tha


The U.K. government said it will make its own decision as to whether to include Huawei technology as it builds out its 5G network. The United States has asked allies to reject Huawei’s infrastructure on fears it could open up avenues to Chinese spying, a claim the tech firm has repeatedly rejected. The U.S. has even blacklisted Huawei, among other firms, effectively blocking the company from sourcing components and tech from America. The U.S. Commerce Department said in a statement Wednesday tha
UK says it will make its own decision on 5G and Huawei Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: david reid
Keywords: news, cnbc, companies, decision, tech, states, undermine, willing, 5g, work, united, huawei, uk, technology, security


UK says it will make its own decision on 5G and Huawei

The U.K. government said it will make its own decision as to whether to include Huawei technology as it builds out its 5G network.

The United States has asked allies to reject Huawei’s infrastructure on fears it could open up avenues to Chinese spying, a claim the tech firm has repeatedly rejected. The U.S. has even blacklisted Huawei, among other firms, effectively blocking the company from sourcing components and tech from America.

The U.S. Commerce Department said in a statement Wednesday that the move aimed to protect U.S. technology from “foreign-owned entities” that could undermine national security. In response, Huawei said that it is willing to work with U.S. officials to ensure product security.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: david reid
Keywords: news, cnbc, companies, decision, tech, states, undermine, willing, 5g, work, united, huawei, uk, technology, security


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Massachusetts Gaming Commission allows Wynn Resorts to retain its gaming license but fines the company $35 million

The Massachusetts Gaming Commission will allow Wynn Resorts to retain its gaming license but will fine the company $35 million, the commission announced Tuesday evening. Wynn Resorts said in a statement that it had “received a copy of the Massachusetts Gaming Commission’s decision on suitability late today.” On April 7, Jeffries upgraded Wynn Resorts to a buy rating with a price target of $170. The MCG decision spares Wynn resorts from the much more damaging fate of losing its gaming license. In


The Massachusetts Gaming Commission will allow Wynn Resorts to retain its gaming license but will fine the company $35 million, the commission announced Tuesday evening. Wynn Resorts said in a statement that it had “received a copy of the Massachusetts Gaming Commission’s decision on suitability late today.” On April 7, Jeffries upgraded Wynn Resorts to a buy rating with a price target of $170. The MCG decision spares Wynn resorts from the much more damaging fate of losing its gaming license. In
Massachusetts Gaming Commission allows Wynn Resorts to retain its gaming license but fines the company $35 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: contessa brewer
Keywords: news, cnbc, companies, board, decision, maddox, company, wynn, fines, retain, license, commission, suitability, gaming, massachusetts, resorts, million


Massachusetts Gaming Commission allows Wynn Resorts to retain its gaming license but fines the company $35 million

The Massachusetts Gaming Commission will allow Wynn Resorts to retain its gaming license but will fine the company $35 million, the commission announced Tuesday evening.

In a written statement, MGC Chair Cathy Judd-Stein said: “Ensuring public confidence in the integrity of the gaming industry and the strict oversight of the gaming establishments through rigorous regulation is our principal objective.” But “with that comes an equally significant duty of fairness.”

The decision clears the path for the global casino company to open its $2.6 billion property Encore Boston Harbor in Everett, Massachusetts, in June.

Wynn Resorts said in a statement that it had “received a copy of the Massachusetts Gaming Commission’s decision on suitability late today.” The company added that it is “in the process of reviewing that decision and considering the full range of our next steps.”

Regulators had tackled serious questions about the company’s suitability after investigators determined the company repeatedly and over years had turned a blind eye to employees’ accusations of rape, sexual harassment and other misconduct against founder and then-CEO Steve Wynn. He has said he had romantic relationships with workers but has consistently denied any coercion.

Jeffries gaming analyst David Katz says, “In terms of what expectations were for potential outcomes, this is at the positive end of the range. On the other end of the range — where Wynn couldn’t keep the license, the building or its executive team — would have been more disruptive to the company and the stock.”

On April 7, Jeffries upgraded Wynn Resorts to a buy rating with a price target of $170. “Our thesis is: this is the last big project they have. They go through a capital pivot where the spending stops and the cashflow goes up and the leverage goes down and it accretes to the equity value,” Katz said.

Harry Curtis, gaming analyst at Nomura/Instinet, says the commission’s decision “has long-term, positive implications for Wynn’s ability not only to compete, but to succeed, in larger scale, global destination markets.”

The company had defended itself by saying that it separated from its CEO shortly after the allegations were made public in The Wall Street Journal in January 2018. Wynn resigned on Feb. 6 that year and sold his entire stake by mid-March.

Wynn Resorts had contended the company is no longer about a single man. Executives and board members argued strenuously the company had reinvented itself, with new leadership, a new board with three new women as directors, new policies and a new commitment to transparency with regulators.

The MCG decision spares Wynn resorts from the much more damaging fate of losing its gaming license. The commission acknowledged all the internal changes and said, “Wynn is likely to be a successful operator in Everett.”

The commission also reviewed the suitability of CEO Matt Maddox and co-founder Elaine Wynn, Steve’s ex-wife, the only two individual qualifiers remaining from the original license application, and decided they are suitable.

Gaming regulators have voted to fine Maddox $500,000 for what they called his failures in enforcing company policy.

Also the commission is requiring the board to hire an executive coach for Maddox to focus on leadership development and will require the roles of chairman and CEO to remain separated for the 15-year term of the license.

Maddox was the longtime protege of Steve Wynn — and his appointed successor. In a three-day hearing in March, after investigators presented their report, regulators grilled Maddox about why he didn’t know about multiple settlements, complaints or mishandling of allegations.

In its post-hearing brief, Wynn Resorts responded: “… the settlements were known to very few within the Company who worked in silos, meaning that some individuals became aware of certain settlements, but not others.”

Wynn Resorts fiercely defended its CEO in the brief, arguing the commission applied the standard of suitability as “one that judges his leadership, which is not a statutory criterion in the Gaming Act.”

Regulators had pressed Elaine Wynn in the March hearing about why, as a board member, she hadn’t revealed to the board or to gaming regulators the existence of a 2005 multimillion-dollar settlement between Steve Wynn and a former employee. She testified in a hearing in February that she had fulfilled her responsibility by informing then-General Counsel Kim Sinatra.

Sinatra is among a number of former executives named and blamed by gaming regulators in both Nevada and Massachusetts for systemic failures to enforce company policy. The company says those employees are no longer with the company.

In February, the Nevada Gaming Commission fined Wynn Resorts a record $20 million for failing to protect employees and apply its own policies to Steve Wynn. But it followed up that decision with a letter to Wynn Resorts confirming that in Nevada, Maddox was determined to have met suitability requirements.

Wynn Resorts had held off announcing a date for its first-quarter earnings release and call while it waited on the decision in Massachusetts.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: contessa brewer
Keywords: news, cnbc, companies, board, decision, maddox, company, wynn, fines, retain, license, commission, suitability, gaming, massachusetts, resorts, million


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Daimler will stop selling its electric Smart cars in US, Canada after 2019 model

A Daimler AG Smart ForTwo Car2Go car-sharing automobile sits parked on a street in the Bushwick neighborhood in Brooklyn, New York. German automaker Daimler will stop selling its all-electric Smart EQ fortwo cars in the United States and Canada, according to a company spokesman. The company will stop selling Smart in the two countries after its 2019 model year, confirmed Robert Moran, director of corporate communication. TechCrunch first reported the information after learning of the decision fr


A Daimler AG Smart ForTwo Car2Go car-sharing automobile sits parked on a street in the Bushwick neighborhood in Brooklyn, New York. German automaker Daimler will stop selling its all-electric Smart EQ fortwo cars in the United States and Canada, according to a company spokesman. The company will stop selling Smart in the two countries after its 2019 model year, confirmed Robert Moran, director of corporate communication. TechCrunch first reported the information after learning of the decision fr
Daimler will stop selling its electric Smart cars in US, Canada after 2019 model Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: jessica bursztynsky, mack hogan
Keywords: news, cnbc, companies, electric, selling, canada, decision, stop, cars, smart, yorkgerman, model, techcrunch, 2019, fortwo, company, daimler, united


Daimler will stop selling its electric Smart cars in US, Canada after 2019 model

A Daimler AG Smart ForTwo Car2Go car-sharing automobile sits parked on a street in the Bushwick neighborhood in Brooklyn, New York.

German automaker Daimler will stop selling its all-electric Smart EQ fortwo cars in the United States and Canada, according to a company spokesman.

The company will stop selling Smart in the two countries after its 2019 model year, confirmed Robert Moran, director of corporate communication. TechCrunch first reported the information after learning of the decision from two people familiar with the decision.


Company: cnbc, Activity: cnbc, Date: 2019-04-29  Authors: jessica bursztynsky, mack hogan
Keywords: news, cnbc, companies, electric, selling, canada, decision, stop, cars, smart, yorkgerman, model, techcrunch, 2019, fortwo, company, daimler, united


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SCOTUS conservatives limit class arbitration in divided decision

Roberts argued that under the court’s precedent arbitration is a matter of “consent,” and that consent cannot be inferred from an agreement that is ambiguous. “Today’s opinion is rooted instead in the majority’s belief that class arbitration ‘undermine[s] the central benefits of arbitration itself,’ she wrote. A federal court in California permitted Lamps Plus to force Varela into arbitration, but granted his request for class arbitration. Arbitration cases have taken on increased significance i


Roberts argued that under the court’s precedent arbitration is a matter of “consent,” and that consent cannot be inferred from an agreement that is ambiguous. “Today’s opinion is rooted instead in the majority’s belief that class arbitration ‘undermine[s] the central benefits of arbitration itself,’ she wrote. A federal court in California permitted Lamps Plus to force Varela into arbitration, but granted his request for class arbitration. Arbitration cases have taken on increased significance i
SCOTUS conservatives limit class arbitration in divided decision Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: tucker higgins, mark wilson, getty images
Keywords: news, cnbc, companies, workers, divided, class, court, scotus, courts, consent, limit, law, conservatives, decision, opinion, arbitration, cases


SCOTUS conservatives limit class arbitration in divided decision

The Supreme Court on Wednesday handed a victory to business in a 5-4 ruling along ideological lines that held that workers are not entitled to resolve disputes through class arbitration in cases where their arbitration agreement is ambiguous.

The closely-watched case is the latest in a long string of rulings at the top court strengthening the power of firms to compel their employees to resolve disputes through individual arbitration, a practice that businesses argue is more efficient and worker advocates say enables abuse to go unchecked.

Arbitration is a dispute resolution mechanism that is less formal than the court system which generally favors employers.

The decision follows the court’s landmark ruling on the issue in the 2018 case Epic Systems Corp. v. Lewis, which held, also 5-4, that arbitration agreements requiring workers to submit to individual arbitration must be enforced.

The opinion drew a flurry of criticism from the court’s liberal wing, with each of the four Democratic appointees penning a dissent. But Chief Justice John Roberts, in his opinion for the court, downplayed the criticism, arguing that the “opinion today is far from the watershed” the dissenters claimed it to be.

Roberts argued that under the court’s precedent arbitration is a matter of “consent,” and that consent cannot be inferred from an agreement that is ambiguous. The decision overturned a ruling from the U.S. 9th Circuit Court of Appeals, which held that, under state law, ambiguity in a contract should be resolved against the party that drafted the agreement.

Read more: The Supreme Court could make it harder for workers to sue over issues like sexual harassment and pay discrimination

Justice Elena Kagan said the 9th Circuit’s reasoning was based on “a plain-vanilla rule of contract interpretation.”

“Today’s opinion is rooted instead in the majority’s belief that class arbitration ‘undermine[s] the central benefits of arbitration itself,’ she wrote. “But that policy view—of a piece with the majority’s ideas about class litigation—cannot justify displacing generally applicable state law about how to interpret ambiguous contracts.”

The case involved Frank Varela, an employee at a lighting company, Lamps Plus. In 2016, Varela’s tax information was stolen by a hacker in a breach that affected hundreds of other employees.

Varela filed a lawsuit against the company on behalf of himself and others whose data was stolen. A federal court in California permitted Lamps Plus to force Varela into arbitration, but granted his request for class arbitration. That decision was affirmed by the Ninth Circuit.

“This is a win for employers,” said Lauren Novak, a partner at the law firm Schiff Hardin. “The decision provides clear guidance to the lower courts – the right to proceed as a class cannot be inferred, it will be permissible only if the employer expressly consented to it in the arbitration agreement.”

Justice Ruth Bader Ginsburg, in a dissent, said the court was straying “treacherously” from the court’s previous rulings on what was meant by consent in arbitration cases. She wrote that it was ironic to use the principle of consent “to justify imposing individual arbitration on employees who surely would not choose to proceed solo.”

“The widely experienced neglect [Varela] identified cries out for collective treatment,” Ginsburg wrote. “Shut from the Court’s sight is the ‘Hobson’s choice’ employees face: ‘accept arbitration on their employer’s terms or give up their jobs.'”

Arbitration cases have taken on increased significance in recent years because of added attention to worker disputes over sexual harassment in the workplace. A 2018 report by the Economic Policy Institute, a left-leaning think tank, found that the share of workers subject to forced arbitration agreements has doubled in recent decades and now includes more than half the country’s workforce.

Emily Martin, vice president for education and workplace justice at the National Women’s Law Center, told CNBC in the fall that workers are less likely to come forward with such complaints if they are forced to resolve them as individuals, rather than groups. Raising the funds, and gathering the necessary information, are among the hurdles.

“If you feel like you are the only one, you are much less likely to come forward and say, I deserve better, you can’t treat me like this,” she said.

A number of companies in recent years, including Google and Facebook, have sought to address the issue by ending forced arbitration in cases involving sexual harassment. Ginsburg said those efforts “ameliorate some of the harm” caused by the court’s arbitration decisions, but re-iterated her stance that congressional action is “urgently in order.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: tucker higgins, mark wilson, getty images
Keywords: news, cnbc, companies, workers, divided, class, court, scotus, courts, consent, limit, law, conservatives, decision, opinion, arbitration, cases


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EU council will make decision over Brexit delay next week, Austrian finance minister says


EU council will make decision over Brexit delay next week, Austrian finance minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05
Keywords: news, cnbc, companies, minister, finance, council, eu, week, austrian, brexit, delay, decision


EU council will make decision over Brexit delay next week, Austrian finance minister says


Company: cnbc, Activity: cnbc, Date: 2019-04-05
Keywords: news, cnbc, companies, minister, finance, council, eu, week, austrian, brexit, delay, decision


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US to designate elite Iranian force as terrorist organization

The United States is expected to designate Iran’s elite Revolutionary Guards Corps a foreign terrorist organization, three U.S. officials told Reuters, marking the first time Washington has labeled another country’s military a terrorist group. The Pentagon declined comment and referred queries to the State Department. The State Department and White House also declined to comment. The United States has already blacklisted dozens of entities and people for affiliations with the IRGC, but the organ


The United States is expected to designate Iran’s elite Revolutionary Guards Corps a foreign terrorist organization, three U.S. officials told Reuters, marking the first time Washington has labeled another country’s military a terrorist group. The Pentagon declined comment and referred queries to the State Department. The State Department and White House also declined to comment. The United States has already blacklisted dozens of entities and people for affiliations with the IRGC, but the organ
US to designate elite Iranian force as terrorist organization Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: atta kenare, afp, getty images
Keywords: news, cnbc, companies, organization, designate, terrorist, elite, state, officials, united, irans, iranian, department, ahead, states, force, warned, decision


US to designate elite Iranian force as terrorist organization

The United States is expected to designate Iran’s elite Revolutionary Guards Corps a foreign terrorist organization, three U.S. officials told Reuters, marking the first time Washington has labeled another country’s military a terrorist group.

The decision, which critics warn could open U.S. military and intelligence officials to similar actions by unfriendly governments abroad, is expected to be announced by the U.S. State Department, perhaps as early as Monday, the officials said. It has been rumored for years.

The Pentagon declined comment and referred queries to the State Department. The State Department and White House also declined to comment.

U.S. Secretary of State Mike Pompeo, a strident Iran hawk, has advocated for the change in U.S. policy as part of the Trump administration’s tough posture toward Tehran.

The announcement would come ahead of the first anniversary of President Donald Trump’s decision to pull out of a 2015 nuclear deal with Tehran and to reimpose sanctions that had crippled Iran’s economy.

The administration’s decision to make the designation was first reported by the Wall Street Journal.

The United States has already blacklisted dozens of entities and people for affiliations with the IRGC, but the organization as a whole is not.

In 2007, the U.S. Treasury designated the IRGC’s Quds Force, its unit in charge of operations abroad, “for its support of terrorism,” and has described it as Iran’s “primary arm for executing its policy of supporting terrorist and insurgent groups.”

Iran has warned of a “crushing” response should the United States go ahead with the designation.

IRGC commander Mohammad Ali Jafari warned in 2017 that if Trump went ahead with the move, “then the Revolutionary Guards will consider the American army to be like Islamic State all around the world.”

Such threats are particularly ominous for U.S. forces in places such as Iraq, where Iran-aligned Shi’ite militia are located in close proximity to U.S. troops.

Former Under-Secretary of State and lead Iran negotiator, Wendy Sherman, said the move had implications for U.S. forces.

“One might even suggest, since it’s hard to see why this is in our interest, if the president isn’t looking for a basis for a conflict,” said Sherman. “The IRGC is already fully sanctioned and this escalation absolutely endangers our troops in the region.”


Company: cnbc, Activity: cnbc, Date: 2019-04-05  Authors: atta kenare, afp, getty images
Keywords: news, cnbc, companies, organization, designate, terrorist, elite, state, officials, united, irans, iranian, department, ahead, states, force, warned, decision


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Malcolm Turnbull on Australia’s decision to ban China’s Huawei and ZTE

“Capability takes a long time to put in place. Intent can change in a heartbeat, so, you have got to hedge and take into account the risk that intent can change in the years ahead”In 5G networks, the emphasis is more on software instead of hardware. “But, capability takes a long time to put in place. Intent can change in a heartbeat, so, you have got to hedge and take into account the risk that intent can change in the years ahead,” Turnbull added. Apart from Australia, other countries including


“Capability takes a long time to put in place. Intent can change in a heartbeat, so, you have got to hedge and take into account the risk that intent can change in the years ahead”In 5G networks, the emphasis is more on software instead of hardware. “But, capability takes a long time to put in place. Intent can change in a heartbeat, so, you have got to hedge and take into account the risk that intent can change in the years ahead,” Turnbull added. Apart from Australia, other countries including
Malcolm Turnbull on Australia’s decision to ban China’s Huawei and ZTE Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: saheli roy choudhury, -malcolm turnbull, former prime minister of australia
Keywords: news, cnbc, companies, place, risk, takes, chinas, ban, huawei, decision, turnbull, australias, capability, company, malcolm, zte, change, networks, 5g, intent


Malcolm Turnbull on Australia's decision to ban China's Huawei and ZTE

“Capability takes a long time to put in place. Intent can change in a heartbeat, so, you have got to hedge and take into account the risk that intent can change in the years ahead”

In 5G networks, the emphasis is more on software instead of hardware. That means an equipment provider, or even a malicious third party that is able to gain access, can potentially have a much clearer view of what goes on inside the network — such as monitoring data transfers, tracking locations of cell phone users or eavesdropping on conversations.

“Now, the company, the entity that provides that, that maintains it, that has constant access to it, has enormous capability, if it chose to do so, to act adversely to your interest,” Turnbull said, about firms that sell 5G equipment needed to build the ultra fast mobile network.

“No one is suggesting that Huawei would do that, certainly not me. I have great admiration for the company,” he said. “But, capability takes a long time to put in place. Intent can change in a heartbeat, so, you have got to hedge and take into account the risk that intent can change in the years ahead,” Turnbull added.

Though Huawei has had tremendous success getting ahead in the 5G race — still at its nascent stage — the firm is facing mounting fears that its technology will enable Chinese espionage through the high-speed mobile networks. Apart from Australia, other countries including the United States, New Zealand and Japan have blocked the company from participating in 5G development within their borders.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: saheli roy choudhury, -malcolm turnbull, former prime minister of australia
Keywords: news, cnbc, companies, place, risk, takes, chinas, ban, huawei, decision, turnbull, australias, capability, company, malcolm, zte, change, networks, 5g, intent


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Italy joining China’s Belt and Road project is ‘geopolitically unwise,’ former prime minister says

Italy’s former prime minister doesn’t approve of the current government’s newly inked partnership with China, calling the decision “unwise” during a conversation with CNBC Monday. “Politically, geopolitically, I deem (it) really unwise from the Italian government to take such a decision without coordination with the European Union and our allies,” Paolo Gentiloni, who served as prime minister from 2016 to 2018, told CNBC’s “Squawk Box Europe.” “Europe is showing its divisions toward China, and t


Italy’s former prime minister doesn’t approve of the current government’s newly inked partnership with China, calling the decision “unwise” during a conversation with CNBC Monday. “Politically, geopolitically, I deem (it) really unwise from the Italian government to take such a decision without coordination with the European Union and our allies,” Paolo Gentiloni, who served as prime minister from 2016 to 2018, told CNBC’s “Squawk Box Europe.” “Europe is showing its divisions toward China, and t
Italy joining China’s Belt and Road project is ‘geopolitically unwise,’ former prime minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: natasha turak
Keywords: news, cnbc, companies, belt, decision, unwise, energy, worth, xi, italy, italian, project, china, billion, road, geopolitically, joining, prime, chinas, minister


Italy joining China's Belt and Road project is 'geopolitically unwise,' former prime minister says

Italy’s former prime minister doesn’t approve of the current government’s newly inked partnership with China, calling the decision “unwise” during a conversation with CNBC Monday.

“Politically, geopolitically, I deem (it) really unwise from the Italian government to take such a decision without coordination with the European Union and our allies,” Paolo Gentiloni, who served as prime minister from 2016 to 2018, told CNBC’s “Squawk Box Europe.”

“Europe is showing its divisions toward China, and this is not something that will strengthen our position even on trade.”

The Italian government stirred up fresh controversy over the weekend as it officially agreed to join China’s massive Belt and Road Initiative (BRI), becoming the first EU and Group of 7 country to do so.

Chinese President Xi Jinping’s visit to Rome saw a total of 29 deals signed, altogether worth 2.5 billion euros ($2.8 billion). They were focused on agricultural, finance and energy sectors, and opened up new access to the Chinese market for major Italian energy and engineering firms.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: natasha turak
Keywords: news, cnbc, companies, belt, decision, unwise, energy, worth, xi, italy, italian, project, china, billion, road, geopolitically, joining, prime, chinas, minister


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