Federal Reserve Chairman Jerome Powell is due to speak about the US economy at 2.00 pm in Washington. The Financial Times reported that the Trump Administration is removing a central demand about cyber theft in a bid to shepherd a swift resolution to the conflict. Helping sentiment: Progress in the US-China trade war. The optimism helped lift futures on the tech-heavy Nasdaq about 0.8%, along with other shares throughout the world. Global stocks gained on Wednesday morning after Apple issued a bullish revenue forecast and revealed signs of recovery in iPhone sales, driving its shares up more than 5% in premarket trading. Ren has said he expects the impact on Huawei's business to be minimal, telling Nikkei Asian Review that growth will slow "only slightly." The company has been preparing for a scenario in which it may not be able to work with US tech companies.Account icon An icon in the shape of a person's head and shoulders. If there was no Apple to help show us the world, we would not see the beauty of this world." "If there was no Apple, there would be no mobile internet. "Apple is the world's leading company," he said. But during the same interview with Bloomberg Television, Ren said he would be "the first to protest" if this were the case. Losing Google appears to be an especially critical blow to the firm, considering Google's Android software powers 85% of smartphones worldwide.Īnalysts have speculated in recent weeks that these new government requirements could spark a backlash in China against Apple, which accounted for 12% of the country's smartphone market share as of the fourth quarter of 2018, according to Counterpoint Research. Huawei's placement on the trade blacklist prompted companies such as Google, Qualcomm, and Intel to suspend operations with the company. Account icon An icon in the shape of a person's head and shoulders.
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