HONG KONG (Reuters Breakingviews) - Huawei’s good times could wind down soon. Stronger smartphone sales at home helped revenue jump a surprising 24% year-on-year in the first three quarters of the year. But the Chinese tech champion has yet to feel the full impact of U.S. restrictions, set to resume next month, and domestic demand could prove unreliable too.
The world’s top telecoms equipment maker has been on a U.S. export blacklist since May, which bars the Chinese group from doing business with American companies without special licences. Yet the latest set of numbers, released by Huawei on Wednesday, shows Beijing’s tech champion is doing just fine. Revenue in the first nine months of the year hit 611 billion yuan ($86.2 billion). The Shenzhen-based company, which says it is owned by its employee union, only releases limited financial data. But based on previous disclosures, that...
SEOUL (Reuters) - South Korea’s Supreme Court on Thursday upheld a ruling by a lower court that freed Lotte Group Chairman Shin Dong-bin from jail after he had served several months for bribery charges involving the country’s former president.
The Supreme Court ruling means that Shin will remain out of jail, as it upholds a decision last year to suspend the remainder of his jail sentence, pending good behavior over four years.
The decision boosted shares of Lotte Corp (004990.KS), the holding company of retail-to-chemicals giant Lotte Group. Lotte Corp rose as much as 4.2%, while flagship retailer Lotte Shopping Co Ltd (023530.KS) gained nearly 2%. The broader KOSPI market .KS11 was 0.1% lower at 0305GMT.
“We will try to become a trustworthy company as we contribute to the nation and society,” Lotte Group said in a statement following the Supreme Court’s decision....
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- The pound is posting solid gains on the day as Boris Johnson manages to strike a deal with European leaders, although now the big question remains, is the DUP on board and can Johnson get this through a parliamentary vote?
WASHINGTON — President Trump’s trade truce with China may have temporarily cooled tensions between the world’s two largest economies. But the damage from Mr. Trump’s aggressive approach to trade policy will continue to weigh on the global economy.
The “agreement in principle” with China — which has yet to be finalized — would not roll back the hundreds of billions of dollars of tariffs that China and America have placed on each others’ products. Mr. Trump is also escalating his trade fight on other fronts, including slapping higher tariffs on Turkey and preparing to tax $7.5 billion worth of wine, cheese, aircraft and other European goods on Friday. His administration will decide next month whether to impose tariffs on cars imported from Europe and other countries.
On Wednesday, Mr. Trump dangled the possibility of additional tariffs on the European Union if the bloc is unwilling to reduce the trade imbalance between the United States and the E.U.
ISLAMABAD (Reuters) - Britain’s Prince William and his wife Kate on Wednesday visited a melting glacier in the Hindu Kush mountain range not far from Pakistan’s border with Afghanistan, witnessing first hand the impact of climate change their trip is seeking to highlight.
They flew by helicopter to the northern tip of the Chiatibo glacier, where a climate change expert explained how it was retreating.
It is one of the around 7,000 of Pakistan’s 7,200 glaciers that meteorological officials say show signs of melting, citing data gathered over the last 50 years.
Earlier, the Duke and Duchess of Cambridge had stopped at an airport in Chitral and been given a traditional feathered mountain hat, similar to one gifted to William’s mother Princess Diana during her visit to the area in 1991. They were also given an album of photos of Diana during her visit.
My Money is a new series looking at how people spend their money - and the sometimes tough decisions they make. Here, Olivia Davies from Salford records her spending over a week, and shares how easy it is to spend money on clothes and make-up.
We're looking for more people to share what they spend their money on. If you're interested, please email firstname.lastname@example.org or get in touch via our My Money Facebook group and we'll aim to contact you.
Olivia is 20 and is currently a second year student at Salford university, studying broadcast journalism. She also works 20-30 hours a week at Nando's.
When she's not working, studying or on holiday, she loves to go to the gym, keeping herself fit and active. She can't wait for you to have a read of her blog to see what a young, part-time student and worker really spends her money on. She says there's no hiding any of her spends now. Over to Olivia.
LONDON (Reuters) - Sterling faltered on Thursday and Europe’s main stock markets went in and out of the red as hopes for a smooth Brexit ran into familiar Irish border snags.
PM Boris Johnson says the UK and EU have agreed "great new deal" for Brexit
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