European Press Roundup: Portugal's Nos Confident in Huawei Partnership Despite US Sanctions

Date : 05/22/2019 @ 12:04PM
Source : Dow Jones News
Stock : General Electric Company (GE)
Quote : 8.89  0.17 (1.95%) @ 12:59AM

European Press Roundup: Portugal's Nos Confident in Huawei Partnership Despite US Sanctions

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In Europe today, the U.K.'s Royal Mail will slash its dividend and set out a five-year turnaround plan, and consumer prices in the U.K. rose in April. Read about the above topics on Dow Jones Newswires or


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Portuguese telecom operator Nos is fairly confident about its partnership with Huawei, despite a U.S.-led crackdown on the company, which has been accused of supplying equipment with weaknesses that could be exploited by the Chinese state. "We aren't worried about what's been said," Nos's executive director Manuel Ramalho Eanes said. -O Jornal Economico


The head of Germany's Federal Office for Information Security, or BSI, says it's conceivable that China's Huawei could be shut out of from building Germany's 5G networks if certain products are deemed "not safe enough." -Handelsblatt


Google's veto on Huawei has hit the Chinese company's mobile-phone sales in Spain. Sources from large retailers like Amazon, Corte Ingles, Fnac, PhoneHouse, or MediaMarkt as well as telecoms operators like Telefonica, Vodafone or Orange say that sales of Huawei products have plummeted, and that the numbers of order cancellations and product returns are climbing. -Cinco Dias


German Finance Minister Olaf Scholz says he expects a worldwide agreement on minimum levels of taxation will be reached among OECD states next summer despite ongoing trade disputes with the U.S. -Tagesspiegel


Societe General's shareholders voted for the renewal of Frederic Oudea at the head of the French bank by more than 95% after a mixed first-quarter as SoGec cut its 2020 guidance. - Les Echos


French economic minister Bruno Le Maire asked General Electric not to close industrial sites in France as the American conglomerate's unions are worry that 1,000 jobs could be cut at the Belfort plant as part of a redundancy program. - France Info


Italy's GDP is expected to grow by 0.3% in 2019, the country's statistics agency Istat says. The growth should be entirely supported by domestic demand. Istat had previously forecast growth of 1.3%. -Il Sole 24 Ore


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(END) Dow Jones Newswires

May 22, 2019 06:49 ET (10:49 GMT)

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