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WASHINGTON (Reuters) - Huawei Technologies Co Ltd’s founder and chief executive pledged not to share any customer information with the Chinese government and said the company had never done so, in an interview with CBS News that aired on Tuesday. Asked if it had shared data with China’s government, Huawei’s Ren Zhengfei said in a translated interview with the television news outlet: “For the past 30 years, we have never done that. And (for) the next 30 years to come, we will never do that.”.
Ren also said the company did not have a back door to share customer data with Beijing without his knowledge, “It is not possible,” he told CBS, saying if there were such an opening the United States would have uncovered it already, On Monday, Ren said in a separate interview with the BBC that the technology company would not undertake any spying activities and that it could shift its business investments to other countries amid an ongoing U.S, pressure campaign, The United States is calling on its allies not to use technology from Huawei, the world’s biggest monogrammed cufflinks amazon producer of telecommunication equipment, amid concerns over its relationship with the Chinese government and allegations it has enabled state espionage..
LONDON (Reuters) - The United Kingdom must urgently end the uncertainty over its exit from the European Union so that businesses can have clarity about the future, business minister Greg Clark said just hours after Honda said it would close its car plant in Britain. “Decisions like Honda’s this morning demonstrate starkly how much is at stake,” Clark said, adding that the decision was a very big blow. “This news comes on top of months of uncertainty that you as manufacturers have had to endure about Brexit, about our future relationship with the EU,” Clark told a manufacturing conference.
LONDON (Reuters) - Activist investor Edward Bramson’s bid to join the Barclays board is destined to fail, shareholders told Reuters, though he has sharpened scrutiny of its investment banking strategy that Bramson argues has depressed profitability, When Barclays reports its 2018 results on Thursday, investors will examine whether the trading and advisory business that Bramson believes should be shrunk has improved monogrammed cufflinks amazon its performance, and whether those gains are sustainable, “The onus is now on the Barclays management team to convince the market that their plan is the best way forward,” one investor said, “This probably requires more disclosure on the varying returns within the corporate and investment bank.”..
The high-profile dispute between Bramson and Barclays CEO Jes Staley over strategy has helped spark wider debate about the viability of European investment banks, which have in recent years increasingly lagged U.S. rivals. Barclays rival HSBC on Tuesday for instance reported a slump in fourth-quarter trading revenue, joining other European lenders in seeing a sharp annual decline from stock trading while U.S. rivals prospered. (Graphic: Investment banks hit by Q4 market rout - tmsnrt.rs/2TVGoOq).
Bramson’s Sherborne vehicle holds 5.5 percent of Barclays stock, In a letter to his shareholders last December, he criticized the bank’s tactic of using considerable capital and resources to chase modest or volatile investment banking revenues by undercutting rivals, which might beef up market share temporarily but offer poor long-term returns, Barclays declined to comment, monogrammed cufflinks amazon Barclays’ corporate and investment bank averaged an annual return on equity of 4 percent between 2015 and 2017, compared with 6 percent for Barclays UK and 23 percent for the Consumer, Cards and Payments business, a Reuters analysis showed..
Bramson also said “fortunately timed” tax income benefits and some 900 million pounds ($1.2 billion) worth of non-recurring items put a gloss on the bank’s recent earnings. The bank by contrast said the report showed its strategy working. Investors said that while Bramson’s board seat bid is unlikely to succeed, it could offer him a “noble exit” from a campaign that threatens his track record in driving lucrative change at target firms. “I think having been rebuffed by asking the board for a seat he was always likely to take it to shareholders, but that doesn’t mean that he isn’t playing a game,” one investor, who declined to be named, said.
“I’ve always thought he wouldn’t get anywhere and will just have to hope that the business does actually perform better than he thinks it can, and he can exit at a higher share price monogrammed cufflinks amazon having nobly failed but without losing investors’ money.”, Barclays shares have fallen 27 percent since Bramson’s stake became public in March last year, suggesting his investors are currently set to take a heavy loss, Some of Barclays’ recent actions to shore up the investment bank have irked investors sharing Bramson’s perspective, notably the appointment of more than 80 managing directors late last year and the transfer of up to 47 billion pounds of capital to the investment bank, to the perceived detriment of the broader group..