TNB Tech Minute: Huawei Founder Downplays Impact of U.S. Export Controls - Tech News Briefing
Full Transcript
This transcript was prepared by a transcription service. This version may not be in its final form and may be updated.
Victoria Craig: Here's your TNB Tech Minute for Tuesday, June 10th. I'm Victoria Craig for the Wall Street Journal. The founder of Chinese Telecom equipment maker Huawei, has dismissed worries that the company will be squeezed by U.S. export controls. In an interview with the People's Daily, a government mouthpiece, Huawei's founder said The firm is finding workarounds to improve its chip performance, which are still one generation behind those made by its U.S. peers. He was also upbeat on China's AI industry saying that the country's electric grid capacity is a solid foundation for AI development. You can hear more about how U.S. companies are fighting potential roadblocks to competitiveness with China on data center power in tomorrow's Tech News Briefing podcast right here in this feed. Elsewhere, Uber and self-driving car startup Wayve Technologies are launching trials of fully autonomous vehicles on public roads in London. They chose the British capital because its road layouts and traffic laws are significantly different from U.S. locations where testing has so far been done. There's no targeted date for trials to begin. The U.K.'s Transportation Secretary said the government is fast-tracking pilots of self-driving cars to next spring. Uber and Wayve said the London tests will make it easier to deploy autonomous vehicles across European markets. And finally, the Journal exclusively reports several U.S. government agencies tracked foreign nationals coming and going to Elon Musk's properties in 2022 and 2023 according to people familiar with the matter. An investigation by Homeland Security and the Justice Department focused on people visiting the tech billionaire from Eastern European nations and others who might've been trying to influence him. Until last week, Musk was one of President Trump's closest advisors. The current status of the investigation couldn't be determined. As chief executive of SpaceX, which has worked with national security agencies for years, Musk has top secret security clearance, which gives him access to some national security secrets. For a deeper dive into what's happening in tech, check out Wednesday's Tech News Briefing podcast.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
Starmer calls for negotiations after US attacks Iran's nuclear sites
Sir Keir Starmer has urged Iran to return to negotiations after Donald Trump launched US air strikes on the regime's nuclear facilities. The Prime Minister said Iran's nuclear programme is a 'grave threat' which the US military action would 'alleviate'. There is understood to have been no UK involvement in the action, which comes after Sir Keir and Foreign Secretary David Lammy had pushed for a diplomatic solution rather than US action which could further destabilise the region. The Prime Minister said: 'Iran's nuclear programme is a grave threat to international security. 'Iran can never be allowed to develop a nuclear weapon and the US has taken action to alleviate that threat. 'The situation in the Middle East remains volatile and stability in the region is a priority. 'We call on Iran to return to the negotiating table and reach a diplomatic solution to end this crisis.'
Yahoo
26 minutes ago
- Yahoo
This £10k ISA strategy could one day unlock a £10k second income
By being frugal and investing a significant portion of a salary in an ISA each month, investors can eventually establish a sizable second income stream. On average, British households save around £450 each month. But for those able and willing to make sacrifices, almost doubling this saving rate to £830 a month can make an enormous difference. That roughly translates to putting aside £10,000 each year to fund an investment portfolio. And if an investor can match the 8% average return the UK stock market has historically generated, that's enough capital to build a £250,000 portfolio in just under 14 years. The £250k milestone's a significant one. Apart from being a critical inflexion point from which compounding accelerates drastically, it's also the right amount of money needed to start earning a £10,000 second income following the 4% withdrawal rule. One of the easiest ways to replicate the stock market's average returns is with an index fund. These investing vehicles also help take care of portfolio rebalancing, asset allocation, and diversification, essentially putting the wealth-building process on autopilot. Yet lately, indices such as the FTSE 100 and FTSE 250 have struggled to keep up with their historical growth rates, instead hovering closer to a 6% annualised return. And at this rate, the journey to a £250k ISA would take closer to 16 years. Fortunately, there's an alternative solution – stock picking. Rather than relying on an index to build wealth, investors can take control and craft a custom-tailored portfolio of winning stocks. There's no denying this requires far more effort. But it also opens the door to market-beating returns that could drastically shorten the wealth-building timeline. One of the best-performing UK shares since 2017 has been Games Workshop (LSE:GAW). The tabletop wargaming miniature manufacturer changed its strategy following the appointment of Kevin Rountree as CEO. This resulted in a much stronger relationship with the Warhammer community that's built into a cult-like following, driving jaw-dropping pricing power. Even during periods of economic turbulence like the pandemic and subsequent cost-of-living crisis, demand for Warhammer miniatures, books, games, paints, TV shows, and hobby tools continued to climb. Earnings have consistently hit new record highs, and the share price has since erupted by a staggering 38.2% total annual average return over the last eight years. To put this into perspective, anyone who has been investing £830 each month in Games Workshop shares since June 2017 is now sitting on £500,000, earning a second income of £20,000. Making half a million pounds in a few years is undeniably exciting. But few UK stocks have enjoyed the same level of success. And even today, Games Workshop isn't risk-free. Unpopular rule changes or miniature designs could easily dent sales growth. Similarly, if younger generations opt for alternative digital-first entertainment, hobby gaming could lose cultural relevance in the long run. And the rise of affordable at-home 3D printing could also threaten the group's ability to raise prices in the future. I still think it's worth considering though. That's why diversification and risk management are crucial when executing a stock-picking strategy. And when executed well, stock-picking can lead to tremendous rewards that pave the way to a substantial second income. The post This £10k ISA strategy could one day unlock a £10k second income appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Zaven Boyrazian has positions in Games Workshop Group Plc. The Motley Fool UK has recommended Games Workshop Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
Intel to outsource marketing to Accenture and AI, resulting in more layoffs
When you buy through links on our articles, Future and its syndication partners may earn a commission. Employees at Intel's marketing division were informed that many of their roles will be handed over to Accenture, which will use AI to handle tasks traditionally done by Intel staff, reports OregonLive. The decision is part of a company-wide restructuring plan that includes job cuts, automation, and streamlining of execution. The marketing division has been one of Intel's key strengths since the company began communicating directly with end users with the launch of its "Intel Inside" campaign in 1991. However, it looks like the company will drastically cut its human-driven marketing efforts going forward, as it plans to lay off many of its marketing employees, believing that Accenture's AI will do a better job connecting Intel with customers. The number of positions affected was not disclosed, but Intel confirmed changes will significantly alter team structures, with only 'lean' teams remaining. Workers will be told by July 11 whether they will remain with the company. Among other things, the aim of the restructuring is to free up internal teams to focus on strategic, creative, and high-value projects, rather than routine functions. Therefore, Intel intends to use Accenture's AI in various aspects of marketing, including information processing, task automation, and personalized communications. Intel has acknowledged the shift to Accenture and explained that this will not only cut costs but will modernize its capabilities and strengthen its brand. How exactly the usage of AI instead of real people can reinforce the brand hasn't been explained yet. "As we announced earlier this year, we are taking steps to become a leaner, faster and more efficient company," a statement by Intel published by OregonLive reads. "As part of this, we are focused on modernizing our digital capabilities to serve our customers better and strengthen our brand. Accenture is a longtime partner and trusted leader in these areas and we look forward to expanding our work together." In messages to staff published by OregonLive, Intel indicated that part of the restructuring may involve existing employees training Accenture contractors by explaining how Intel's operations work. This knowledge transfer would occur during the transitional phase of the outsourcing plan, although it is unclear how long this phase will take. Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
