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Author: traderhub8   |   Latest post: Thu, 25 Apr 2019, 5:46 PM

 

Phillip Capital Morning Note

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Huawei Technologies Co.’s Chief Financial Officer Wanzhou Meng was arrested in Vancouver in connection with potential violations by the Chinese-based company of U.S. sanctions on Iran, Canada’s Department of Justice said. Huawei, in a statement, said the arrest was made on behalf of the U.S. so Meng could be extradited to “face unspecified charges” in the Eastern District of New York.

Most small and medium enterprises (SMEs) in Singapore are expecting a decline in turnover in 2018, citing the challenging business environment as the main culprit for the dampened outlook, weighed down at least partially by the US-China trade war.

BT Group Plc is removing Huawei Technologies Co Ltd. equipment from the core of the mobile network it acquired two years ago, bringing it into line with the British telecom company’s longstanding policy toward the Chinese vendor.

Oil prices declined Wednesday, reversing an early rally, as investors awaited a meeting of major oil producers to discuss cutting output.

The U.K. Parliament released on Wednesday a trove of internal Facebook Inc. emails that show Mark Zuckerberg and other executives pursuing hard-nosed tactics to stifle competitors, as well as considering a range of possibilities for monetizing the massive amounts of data the company collected on its users.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research

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