Sun, Jun 24, 2018 - Page 14 News List

Business Quick Take

Agencies

ELECTRONICS

ZTE nears final US hurdle

ZTE Corp (中興通訊) is close to clearing the final hurdle needed for the US government to lift sanctions that prevented the Chinese telecommunications giant from buying US equipment, a US Department of Commerce official said. The Shenzhen-based company has paid a US$1 billion fine and another US$400 million in escrow is to be completed in a couple of days, the official said. A bipartisan group of lawmakers remains concerned about ZTE’s threat to US national security and wants legislation aimed at stronger penalties.

COMMUNICATIONS

BlackBerry drops up to 10%

BlackBerry Ltd shares plunged the most in a year after investors focused on weak growth in software revenues that the company attributed to a change in accounting standards. Shares in BlackBerry on Friday fell as much as 10 percent to US$10.49 in New York, the greatest intraday drop since June 23 last year. Software revenue, the company’s most important growth metric, was US$83 million in the first quarter, 18 percent lower than a year earlier, a statement said on Friday.

INTERNET

Delivery giant files for IPO

Internet giant Meituan Dianping (美團點評) on Friday filed for an initial public offering (IPO) in Hong Kong, becoming the latest Chinese technology juggernaut to throw a multibillion-dollar coming-out party in Hong Kong this year, a person familiar with its filing documents said. Meituan made a net loss of 19 billion yuan (US$2.9 billion) on total revenue of 34 billion yuan for fiscal year 2017, the person said.

CANADA

May prices jumped 2.2%

Canadians paid 2.2 percent more for goods and services last month than a year earlier, with price hikes recorded in all categories, government data showed on Friday. Inflation was flat from the previous month, but came in well below forecasts of 2.6 percent, confirming economists’ predictions that the Bank of Canada would hold off raising interest rates when meeting next month. Gasoline was the biggest contributor to inflation last month, rising 23 percent year-on-year, Statistics Canada said.

UNITED STATES

Rise in self-employed drivers

Call it the Uber effect. The number of self-employed US workers in the taxi and limousine services industry, which includes ridesharing, surged 46 percent in 2016 to more than 700,000, a Census Bureau report released on Thursday showed. The government defines so-called “nonemployer establishments” as businesses without paid employees that have annual receipts of at least US$1,000.

EUROPEAN UNION

French-German plan in doubt

The Netherlands on Friday led a behind-the-scenes campaign to stop a French-German plan to establish a eurozone budget ahead of a key EU summit to discuss the matter. European sources said the Dutch government was making arguments on behalf of about a dozen countries that held wide-ranging doubts about the French-German plan. In an e-mail to Eurogroup President Mario Centeno, Dutch Minister of Finance Wopke Hoekstra insisted that the lack of consensus on the budget be clearly communicated to leaders at next week’s summit.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top