Boeing will take a nearly $5 billion charge in the second quarter to compensate 737 Max customers as the planes remain grounded.Airlinesread more
Microsoft beat on top and bottom lines, and guidance was just ahead of expectations, but the company's Azure growth is slowing down.Technologyread more
"We've seen Netflix stumble before, especially maybe after a price hike, but not quite like this," Jim Cramer says.Mad Money with Jim Cramerread more
Trump said the USS Boxer destroyed Iran's drone in the Strait of Hormuz on Thursday in a "defensive action."Politicsread more
They also voted to absolve themselves, their party and the voters who elected them – like the ones Trump inspired to chant "send her back" at a rally Wednesday in North...Politicsread more
See which stocks are posting big moves after the bell on July 18.Market Insiderread more
House Democrats contend the $15 per hour minimum wage bill will lift workers who have not seen the benefits of a strong economy.Politicsread more
The Philadelphia Fed saw its primary gauge measuring the sector jump from 0.3 in June to 21.8, far better than Wall Street estimates of 5 and the highest in a year.Economyread more
"It's better to take preventative measures than to wait for disaster to unfold," Williams told the annual meeting of the Central Bank Research Association.The Fedread more
CrowdStrike reports first earnings report since IPO.Technologyread more
Some blamed private equity for the rash of retail bankruptcies over the past few years, including those of Payless ShoeSource, Sports Authority and Toys R Us. Toys R Us, in...Retailread more
WASHINGTON, May 9 (Reuters) - The Federal Communications Commission voted unanimously on Thursday to deny China Mobile Ltd's bid to provide U.S. telecommunications services and said it was reviewing similar approvals held by two other Chinese telecom firms.
China Mobile, which is owned by the Chinese government, sought approval in 2011 to provide interconnection services for phone calls between the United States and other countries. The approval would have given it enhanced access to U.S. telephone lines, fiber-optic cable, cellular networks and communications satellites.
The FCC voted 5-0 to deny the application, citing risks that the Chinese government could use the approval to conduct espionage against the U.S. government. China Mobile had not sought approval to provide wireless services to U.S. consumers.
FCC Commissioner Brendan Carr said on Thursday the United States should also take "additional action" and investigate whether to revoke similar prior approvals for other Chinese-owned carriers, including China Unicom and China Telecom Corp, to operate in the United States. The carriers could not immediately be reached.
FCC Chairman Ajit Pai said the commission was "looking" at the authorization for those two companies, but declined to elaborate.
The FCC cited reports that "China Telecom has been hijacking U.S. traffic and redirecting it through China," Carr noted.
Pai said "there is a significant risk that the Chinese government would use China Mobile to conduct activities that would seriously jeopardize the national security, law enforcement, and economic interests of the United States."
Pai added "the Chinese government could use China Mobile to exploit our telephone network to increase intelligence collection against U.S. government agencies and other sensitive targets that depend on this network."
FCC Commissioner Geoffrey Starks said Thursday "the national security environment has changed since those applications were granted" to other Chinese carriers. He said it was a "top priority" to address national security concerns regarding other carriers.
Starks noted that if China Mobile had won approval, it "could even end up carrying the communications of U.S. government agencies" if it offered the least costly path to carry traffic on a particular route.
The vote come amid a broader U.S. campaign to limit the role of Chinese telecommunications firms in the build-out of 5G networks as Western governments grapple with the national security implications of moving to 5G, which promises to be at least 100 times faster than the current 4G networks.
Pai said Thursday the FCC will examine the security of 5G infrastructure and technology. The announcement came after a bipartisan call from members of Congress.
For more than a year, the White House has been considering an executive order to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by China's Huawei and ZTE.
The FCC has also been considering for more than a year whether to require carriers to remove and replace equipment from companies deemed a national security risk. Pai said he is waiting on the Commerce Department for a list of companies that would be covered by the order. (Reporting by David Shepardson Editing by Chizu Nomiyama and Jonathan Oatis)