Huawei blames global chip shortage on U.S. sanctions

Huawei blames global chip shortage on U.S. sanctions

The U.S. flag and a smartphone with the Huawei and 5G network logo are seen on a PC motherboard in this illustration taken January 29, 2020. Dado Ruvic | Reuters Huawei said Monday that it believes U.S. sanctions on the company are partly to blame for the ongoing global chip shortage. Eric Xu, Huawei’s rotating chairman and CEO, said the sanctions imposed over the last two years on the Chinese tech company are, “hurting the global semiconductor industry” because they have “disrupted the trusted relationship in the semiconductor industry.” Speaking to analysts in Shenzhen at Huawei’s Analyst Summit, Xu said:...

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U.K. to investigate after Cameron’s lobbying controversy

U.K. to investigate after Cameron’s lobbying controversy

Former British prime minister David Cameron. LEON NEAL/ AFP via Getty Images LONDON — The U.K. government on Monday announced plans to open an independent investigation into Greensill Capital following former Prime Minister David Cameron’s efforts to lobby ministers on behalf of the financial firm. “The Cabinet Office is commissioning an independent review on behalf of the prime minister to establish the development and use of supply chain finance and associated activities in government and the role Greensill played in those,” Prime Minister Boris Johnson’s spokesperson told reporters, according to Reuters. “This independent review will also look at how contracts...

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Microsoft buys Nuance Communications in a $16 billion deal

Microsoft buys Nuance Communications in a $16 billion deal

Microsoft announced Monday that it will buy speech recognition company Nuance Communications for $56 per share, about 23% above its closing price Friday. The deal is worth about $16 billion and about $19 billion including debt. It’s the latest sign Microsoft is hunting for more growth through acquisitions. The company is also reportedly in talks to buy the chat app Discord for about $10 billion. On top of that, Microsoft made an effort to buy TikTok’s U.S. business last year for about $30 billion before the deal was derailed. The Nuance acquisition represents Microsoft’s largest acquisition since it bought LinkedIn...

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Pandemic delayed sustainable development goals by decades

Pandemic delayed sustainable development goals by decades

LONDON — Former Unilever CEO Paul Polman has warned that the coronavirus pandemic has pushed back sustainable development goals 20-30 years, in terms of exacerbating inequality.  Polman, who is now the chair of social venture IMAGINE and a founding member of CNBC’s ESG Council, was speaking to CNBC’s “Street Signs Europe” Monday.  “The pandemic has put us back probably 20-30 years on the sustainable development goals,” he said, “And once more, the people that were already marginalized in society including the gender dimension … these people have suffered disproportionately.  Women, people of color and young people are among those that...

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Darktrace plans to go public in London despite Deliveroo IPO flop

Darktrace plans to go public in London despite Deliveroo IPO flop

A Darktrace cybersecurity software demonstration shows how a global problem can start with just one employee’s work station. Michael S. Williamson | The Washington Post | Getty Images LONDON — British cybersecurity start-up Darktrace said Monday that it plans to go public in London, defying fears that Deliveroo’s disappointing IPO could put other tech firms off listing in the city. The London-based firm’s platform uses artificial intelligence technology to detect and respond to cyber threats in a business’ IT systems. It says its self-learning AI can monitor threats in real time and come up with ways to strike back. Darktrace,...

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Uber posts record gross bookings in March as ride-hailing bounces back

Uber posts record gross bookings in March as ride-hailing bounces back

Air travelers wait in the ride share lot near a sign for Uber at Los Angeles International Airport (LAX) on August 20, 2020 in Los Angeles, California. Mario Tama | Getty Images Uber on Monday said it posted record gross bookings in the month of March, signaling a pick-up in demand for its ride-hailing business. The tech giant’s mobility unit was hit hard by the coronavirus pandemic last year as lockdown restrictions led to a collapse in demand for ride-sharing services. It’s benefited from a boom in food delivery, however, which helped to limit losses in 2020. Uber said its...

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India becomes second-worst hit country as Covid cases surge

India becomes second-worst hit country as Covid cases surge

A beneficiary receives a dose of Covid-19 vaccine, at HB Kanwatia Hospital in Jaipur, Rajasthan, India, on April 11, 2021. Vishal Bhatnagar | NurPhoto | Getty Images India overtook Brazil as the second worst-infected country behind the United States after data showed that Covid-19 cases continued to surge. The South Asian nation reported more than 168,000 new cases over a 24-hour period on Monday, according to health ministry data. Around 83% of the new infections were reported in 10 states, including the western state of Maharashtra, which is home to India’s financial capital Mumbai. Since the beginning of April, India...

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Investcorp seeks U.S. opportunities as Biden pushes infrastructure plan

Investcorp seeks U.S. opportunities as Biden pushes infrastructure plan

Cranes for unloading shipping containers stand at the Port of Los Angeles in San Pedro, California. Patrick T. Fallon | Bloomberg | Getty Images Investcorp, a Bahrain-based investment company, is looking for opportunities to invest in U.S. roads and ports as U.S. President Joe Biden proposed to spend more than $2 trillion on infrastructure. Biden is set to meet with bipartisan members of Congress to sell his infrastructure plan. The plan would inject money into building bridges, airports, broadband, electric vehicles, housing and job training, while hiking the corporate tax rate. Rishi Kapoor, co-chief executive at Investcorp, said there appears...

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Tencent and Alibaba could collide

Tencent and Alibaba could collide

The success of China’s internet giants is closely tied to their relationship with Beijing, according to Aswath Damodaran, New York University’s “dean of valuation.” Investors are “making a joint bet on the company and its relationship with Beijing,” Damodaran, professor of finance at NYU Stern School of Business, told CNBC’s “Street Signs Asia” on Friday. “There’s no way around it.” He cited Ant Group’s regulatory issues, as well as its failed attempt to go public last year, as an example.  If you truly get on the wrong side of the government, the government (in China) can do far more to...

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Europe could be seeing the decline of its gig economy

Europe could be seeing the decline of its gig economy

A food delivery courier places a bag of food into the back of his bicycle as he prepares to deliver an order from Deliveroo in London. Simon Dawson | Bloomberg via Getty Images In its stock market debut, British food delivery firm Deliveroo saw its share price tank around 30% as questions materialized over workers’ rights for its riders. In the days running up to the listing, the company revised its share price as some investors opted to avoid the IPO over these concerns.  Deliveroo is just one example of a wider “gig economy” that is coming under increasing scrutiny....

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