(Bloomberg) -- Huawei Technologies Co. is emerging as the runaway winner in China’s $170 billion effort to build out its fifth-generation wireless networks, part of a concerted effort by Beijing to seize the lead in a key technology from the U.S. while rebooting a virus-stricken economy.Since the beginning of the year, Huawei has secured 28.4 billion yuan ($4 billion) worth of 5G equipment orders from the country’s largest carrier, China Mobile Ltd., beating out competitors like Ericsson AB and ZTE Corp. to win more than half of the 5G contracts awarded by the operator during the period, according to an analysis of procurement data by Bloomberg News.Huawei is relying on its home market more than ever, at a time its growth has all but evaporated. The 5G contract haul shows Huawei is benefiting from the domestic market and building its telecommunications expertise despite the Trump administration’s blacklisting last year. Beijing has...
EU antitrust regulators have resumed their investigation into Boeing's bid to buy the jetmaking arm of Embraer , with a decision due by Aug. 7, a European Commission filing showed on Wednesday. The EU competition enforcer in October last year expressed concerns about the $4.2 billion deal, saying it would remove Embraer as the third largest global competitor in the highly concentrated commercial aircraft industry, especially in single-aisle commercial planes. Embraer's commercial unit builds jetliners in the 70- to 150-seat segment and competes with the Canadian-designed A220 programme recently acquired by Europe's Airbus ....
(Bloomberg) -- Oil in London traded near a 21-year low as the global benchmark was sucked into the rout that sent U.S. futures below zero for the first time ever this week.Brent for June delivery slumped as much as 17%, before paring losses to trade near $19 a barrel. West Texas Intermediate crude fell 2.9% in New York, having lost almost half its value on Tuesday. Prices continue to slide amid fears that the massive glut that sent May WTI to as low as minus $40.32 on Monday is only going to get worse.With global demand crushed by coronavirus lockdowns, concerns that the unwanted oil is going to overwhelm storage capacity have triggered a selling frenzy. Oil ministers from the OPEC+ coalition held an unscheduled conference call on Tuesday to discuss the rout, though a closing statement signaled they didn’t settle on any new policy measures.The alliance agreed to slash production...
Exact Sciences (EXAS) has pre-announced first quarter results, with total revenue up 114% year-over-year at $348 million, surpassing the Street estimate of $342.6 million.The company, which focuses on the early prevention and detection of colorectal cancer, revealed that screening revenue from its key Cologuard product rose 35% from 1Q19 to $219 million. Meanwhile precision oncology revenue was up 18% to $128 million.However EXAS also revealed that Cologuard orders decreased 36% year-over-year in the last 16 days of March and 63% for first 20 days of April.“Due to social distancing, stay-at-home orders, and other actions taken in response to COVID-19, there has been a significant and widespread decline in standard wellness visits and preventive services. That decline has negatively impacted Cologuard test orders in our Screening business” EXAS explained.Encouragingly, the company added that during April it has seen ‘what appears to be a stabilization’ in the year-over-year decline of Cologuard test orders.Similarly,...
Investing.com - AT&T; (NYSE:T) pulled its annual guidance after a disappointing set of first-quarter numbers on Wednesday, hit by the loss of advertising revenue from live sports and from lower wireless equipment sales....
