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Friday, September 25, 2020
The logo of Chinese company Huawei at their main U.K. offices in Reading, west of London, on January 28, 2020. Daniel Leal-Olivas | AFP via Getty Images Huawei said that Qualcomm has applied for a license to sell it chips and will use them in smartphones if permission is granted by the U.S. government.  China's Huawei was put on a U.S. blacklist last year that restricted American businesses from selling products to the Chinese phonemaker. U.S. companies, including Qualcomm, were required to get a license from the government to export goods to companies on that list.  Then in May this year, Washington amended a rule to require foreign manufacturers using U.S. chipmaking equipment to get a license before being able to sell semiconductors to Huawei. The U.S. government tightened this rule in August, a move which could lead to a "near-total" cut-off for Huawei from key semiconductor.  Huawei designs its own smartphones chips called Kirin, via its HiSilicon subsidiary. But Kirin is manufactured by Taiwanese contract chipmaker Taiwan Semiconductor Manufacturing Company. From Sept. 15, TSMC was no longer able to supply chips to Huawei.  "The U.S. has been continuously attacking us ... and that has posed great challenges to our
Omar Marques/SOPA Images | LightRocket | Getty Images SINGAPORE — Against a backdrop of rising tensions between the United States and China, Finnish telecom equipment maker Nokia says it's focusing on areas it can control — such as its technology and customers, a senior executive said Wednesday.  "From Nokia's perspective, we have to focus on the areas that we can control. What we can control are our own technology, our own go-to market and making sure that the service providers that we are supporting have continuous services and supply of the equipment and technology into their customer base," Jae Won, head of Asia Pacific and Japan at Nokia, said on CNBC's "Squawk Box Asia."  "The various geopolitical issues does provide some complications but as far as we are concerned, we focus on the technology that we can develop and we focus on the customers and the business opportunities that 5G and Industry 4.0 will provide for the future," he added. The U.S. and China are fighting to dominate in new technologies, including artificial intelligence, quantum computing and 5G, which refers to the next generation of high-speed mobile internet that provides faster data speeds and more
TransferWise co-founders Kristo Käärmann and Taavet Hinrikus. TransferWise LONDON — TransferWise, one of Europe's most valuable private financial technology firms, just posted its fourth consecutive year of profitability. The online money transfer service said Wednesday that its net profit more than doubled to £21.3 million ($27.1 million) in the fiscal year ending March 2020. Annual revenues came in at £302.6 million, TransferWise said, up almost 70% from the previous year. TransferWise's annual accounts have been in the black since 2017, a rare display of sustainable growth in the fintech sector. Other start-ups in the space have reported deepening losses due to spending on new product features and overseas expansions. Matt Briers, TransferWise's chief financial officer, said the company prides itself on being transparent about the fees it charges on transactions. So-called neobanks like Monzo and Revolut have struggled to break even with their zero-fee checking accounts, and have looked to premium accounts as a potential avenue to reach profitability. TransferWise said it processed a total of £42 billion in cross-border payments across the year, as well as an additional £25 billion in domestic payments. Breaking down revenue by different regions, the
CEO of Palantir Alex Karp leaves the Elysee Palace in Paris, on May 23, 2018 after the "Tech for Good" summit. Ludovic Marin | AFP | Getty Images Palantir said in a filing ahead of next week's public market listing that it expects to record growth this year of 42%, to close 2020 with $1.06 billion in revenue. The company, which develops software for government agencies and large companies, said adjusted operating income will come in at $121 million, for a margin of 11.5%. Palantir is taking an unconventional approach to the public market in pursuing a direct listing rather than an IPO. Existing investors can sell up to 20% of their stake to new investors, who now have more financial data to use in assessing the value of the company. Palantir's update shows that revenue growth is accelerating from 2019, when the company reported a 25% increase to $742.6 million. For 2021, Palantir said it expects revenue growth of greater than 30%. Revenue and operating income guidance for this year mark the middle of the provided range. Operating income excludes stock-based compensation and other costs. As investors analyze Palantir's business model, one
Tesla CEO Elon Musk speaks outdoors at the company's 2020 "drive-in" shareholder's meeting and battery day on Sept. 22. Tesla CEO Elon Musk said, at the company's 2020 annual shareholder meeting and battery day presentation that he expects vehicle deliveries to increase by 30 to 40 percent over last year, when the company reported deliveries of 367,500 vehicles. That implies deliveries of between 477,750 and 514,500 cars, a range that encompasses the 500,000 cars the company has previously said it would deliver this year. Musk said, Tesla owners for their word-of-mouth marketing to prospective Tesla owners:  "In 2019, we had 50% growth. And I think we'll do really pretty well in 2020, probably somewhere between 30 to 40 percent growth, despite a lot of very difficult circumstances. I mean there's so many – you know, pandemic, wildfires. There's like a whole bunch of difficult production issues. But thanks to the hard work of the Tesla team and a lot of innovative approaches to overcoming issues, we're able to still see significant growth in one of the most difficult… in fact, I say probably the most difficult year of Tesla's existence." Musk also teased forthcoming updates to the company's
An employee looks for items in one of the corridors at an Amazon warehouse. Carlos Jasso | Reuters Amazon has made several recent moves that signal its annual Prime Day event could kick off in the coming weeks. An internal Amazon email obtained by The Verge said the two-day shopping event will take place on Oct. 13 and 14, with an official announcement set for Sept. 27. The company confirmed in July that it would be postponing Prime Day in the U.S. and said in its second-quarter earnings report that the event would take place in the fourth quarter. It had previously told third-party sellers to use the week of Oct. 5 as a "placeholder date" for Prime Day promotions and coupons. Now, with the fourth quarter about a week away, Amazon appears to be preparing brands, sellers and employees in its operations network for the marquee shopping event to be announced soon.  Amazon informed warehouse workers last Friday that full-time employees will not be able to submit new vacation requests between Oct. 13 and 20, "in preparation for a busy fall," according to an internal notice, which was viewed by CNBC and first reported
Google senior fellow Jeff Dean speaks at a 2017 event in China. Source: Chris Wong | Google Google's top AI executive, Jeff Dean, told college students they should look to the events of 2020 for inspiration when deciding what they should pursue in their education and careers. "2020 has been an incredibly challenging year with so many different things that are unusual or unexpected or very harmful from a society point of view and ecological point of view," Dean said in a virtual fireside chat with college students Tuesday. "You have the pandemic, which has completely changed how we're operating as societies, you have things like the George Floyd murder and the outrage justified from that. Then, you have things like the wildfire, which — I live in California and the sky two weeks ago was this apocalyptic orange." Dean said despite 2020 being an "unusual confluence of events," he urged students to pursue education and careers that address large problems, such as climate change, health and social justice. "It's important to keep working to make society and the problems you care about better. It's important to solve problems that you think are
Amazon CEO Jeff Bezos on October 02, 2019. Elif Ozturk | Anadolu Agency | Getty Images Amazon restricts some of its biggest device rivals from buying advertisements tied to search results for its own products, giving its devices an advantage over competitors, a Wall Street Journal investigation has found. The company won't allow some device makers to buy sponsored ads tied to products made by Amazon, including the voice-activated Echo Show, Ring Doorbell and Fire TV, despite allowing them to buy ads tied to other competitors' products on the site, the Journal said. Sponsored products on Amazon are keyword-targeted ads that let advertisers promote certain items. To get the sponsored label, advertisers bid on certain terms, and ads with higher bids are more likely to be displayed. Amazon said in a statement that it disputes the Journal's findings but acknowledged that some keywords related to Amazon devices may have limited advertising inventory. The company said such limitations are an example of retailers deciding what products to promote or feature on their website, which it said is standard practice. Amazon added that it's possible the companies are bidding for ads and don't win the
Jeff Bezos, founder and chief executive officer of Amazon.com Inc., speaks at the National Press Club in Washington, D.C., on Thursday, Sept. 19, 2019. Andrew Harrer | Bloomberg | Getty Images Jeff Bezos is set to open the first location of his network of nonprofit preschools, which are overseen by his philanthropic Day One Fund. In an Instagram post on Tuesday, the Amazon CEO said the first preschool will be based in Des Moines, Washington. The school is being launched by a nonprofit organization called Bezos Academy. The school will open for in-person classes on Oct. 19, said the Day 1 Academies Fund, which is overseen by the Day One Fund. The single-room school is planned to accommodate about a dozen students, ages 3 to 5 years old, and will be open year-round, five days a week, the organization said. The Day 1 Academies Fund said the school will follow coronavirus safety measures outlined by Washington state officials and the Centers for Disease Control and Prevention. Child care and early learning programs remain open in Washington state. Enrollment at the school is currently underway, the Day 1 Academies Fund said. An Amazon spokesperson declined
U.S. President Donald Trump faces reporters as he departs for campaign travel to Ohio from the South Lawn at the White House in Washington, September 21, 2020. Carlos Barria | Reuters Maybe the simplest way to think about what's happening with TikTok is collateral damage. The Trump administration has used technology companies as a battleground for geopolitical warfare with China. It blocked Broadcom's attempt at buying Qualcomm in 2018 over arrangements with "third party foreign entities." It banned U.S. government agencies from doing business with Chinese telecom companies ZTE and Huawei. It forced a Chinese company that acquired LGBTQ dating app Grindr to sell the application. TikTok is just the latest example of another way the Trump administration can assert its leverage over China, which has limited or prohibited American companies from operating within its borders for many years.  President Donald Trump has claimed the service, which has more than 100 million U.S. monthly active users, is a threat to national security. TikTok collects a lot of information about U.S. users, including sign-up information and their activities on the service, and could share this information with the Chinese government. Trump used the Committee on Foreign Investment
Satya Nadella, chief executive officer of Microsoft Corp. Grant Hindsley | Bloomberg | Getty Images Microsoft on Tuesday announced developer tools for enhancing applications with calling and texting capabilities at its Ignite conference for IT workers. The launch demonstrates one of the ways Microsoft is trying to grow its cloud business by entering smaller individual markets. The company might persuade existing customers to try these tools instead of forming relationships with smaller software companies. The collection of Azure Communications Services from Microsoft includes application programming interfaces that make it possible for third-party applications to make voice and video calls, exchange chat messages, send text messages, and create phone numbers for inbound and outbound calls. Companies such as 8x8, RingCentral and Twilio already offer some of these capabilities. Amazon Web Services (AWS), the largest cloud infrastructure provider, offers developer services for embedding text messaging and video calling into customers' applications. Microsoft executives have said the company would not compete with its own customers. Twilio's main cloud provider is not Microsoft. The company relies on AWS for the vast majority of its cloud infrastructure needs. RingCentral uses its own data center infrastructure, while 8x8 draws on a combination of its
Days after President Trump agreed to approve the deal in which Oracle and Walmart would take minority stakes in viral video-sharing app TikTok, Expedia and IAC chairman Barry Diller said of the negotiations in a CNBC "Squawk Box" interview Tuesday: "The whole thing is a crock." "It started obviously simply — to say we want to protect the security of Americans from anything that could happen to them by using TikTok," said Diller. "It has now morphed into a ludicrous game-match between tossing ownership here, control there… Its original aims are out the window. In has just come a whole political mismash." The terms of a TikTok deal have continuously evolved since President Donald Trump issued an executive order in early August that gave TikTok 45 days to sell to a U.S. company or face a ban in the U.S. The original demand was a full acquisition of TikTok by a U.S. company. Microsoft, in a joint bid with Walmart, was considered the most likely contender.  But at the last minute, China added restrictions to its technology export list to include algorithms such as TikTok's. TikTok had to pivot to pursuing a deal that would give U.S. companies only a