Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
U.S. ambassador to Israel David Friedman called the gesture a "birthday present" to Trump, who turned 73 on Friday.Politicsread more
The agreement, which is on the framework for the plan of adjustment, provide for more than a 60% average haircut for all $35 billion, a 36% haircut on pre-2012 general...Bondsread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Target's registers were down on Saturday for several hours preventing customers from checking out.Retailread more
The newspaper wrote that Goldman's executive are hoping CEO David Solomon's changes to a firm that historically thrived in investment banking and trading will boost its...US Marketsread more
The Fed is not likely to make a move on interest rates when it meets next week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
With uncertainty keeping a lid on U.S. stocks, Ed Clissold of Ned Davis Research says the rest of 2019 is likely to be a "choppy," but somewhat opportunistic, ride for...Futures Nowread more
Vodafone, the world's second largest mobile operator, said it was "pausing" the deployment of Huawei equipment in its core networks until Western governments resolve concerns about the Chinese firm's activities.
Huawei faces increasing scrutiny over its ties with the Chinese government and has denied allegations that its technology could be used by Beijing for spying.
Vodafone's Chief Executive Nick Read said on Friday after reporting third-quarter results that the debate was playing out at a "too simplistic level", adding that Huawei was an important player in an equipment market dominated by three companies.
"Given that, we have decided to pause further Huawei in our core whilst we engage with the various agencies and governments and Huawei just to finalize the situation, of which I feel Huawei is really open and working hard," he said.
Read said Huawei's equipment was used in Vodafone's core — which he described as the intelligent part of the network - in Spain and some other smaller markets.
A Huawei spokesman said it had been a long-term strategic partner to Vodafone since 2007, adding that Huawei understood Vodafone was only pausing deployment in its core networks in Europe.
"Huawei is focused on supporting Vodafone's 5G network rollouts, of which the core is a small proportion," he said.
"We are grateful to Vodafone for its support of Huawei and we will endeavor to live up to the trust placed in us."
Read said Europe's mobile industry would face higher costs and delays to faster networks if authorities imposed a blanket ban on Huawei equipment, particularly the radio technology deployed on mobile towers.
"It would be a significant implication for the European telco industry, for capital costs and 5G roll-out, which would face a significant delay," he said.
Vodafone reported a deterioration in its key revenue measure in the third quarter, down 40 basis points quarter-on-quarter to 0.1 percent, reflecting continuing price competition in Spain and Italy and a slowdown in South Africa.
Analysts had expected growth of 0.3 percent.
Shares in the company fell to their lowest level since July 2010 after the update, and were trading down 2.3 percent at 141 pence at 1019 GMT.
It said however that competition in the Spanish and Italian markets had moderated through the quarter and it improved its level of churn, or the number of customers leaving, by two percentage points year-on-year.
"Lower mobile contract churn across our markets and improved customer trends in Italy and Spain are encouraging, however these have not yet translated into our financial results," Read said.
Chief Financial Officer Margherita Della Valle said the performance improvements would start to show in the top line after the current quarter.
"We expect as we enter into the next fiscal year to start seeing the benefits in terms of revenue growth," she said.
Analysts at UBS said Vodafone performed well in net adds and churn across Europe, but they expected fourth quarter service revenue to drop to -0.5 percent, driven by weakness in Spain and tougher comparatives in Britain.
"This is disappointing relative to prior comments that service revenues would be similar to the +0.5 percent seen in Q2," they said.
Vodafone's reiterated its guidance for this year of around 3 percent growth in underlying adjusted core earnings, with free cash flow before spectrum costs of about 5.4 billion euros.