Russia more than doubled crude oil supplies to the United States and Britain in 2019, data from the Federal Customs Service (FCS) has revealed. A fall in prices for the Russian Urals oil, combined with US sanctions against Venezuela and Iran, were among the reasons for such an increase in purchases.
This week, in defiance of the Trump administration, London formally granted Chinese tech giant Huawei the right to build part of the UK’s 5G mobile internet network, albeit capping its UK market share at 35 percent and restricting involvement to “non-core” infrastructure. The US, which lobbied intensely to block Huawei, expressed disappointment.
For some time now, London has been deciding on whether to allow Chinese tech giant Huawei to participate in a national fifth-generation technology rollout, following calls from Washington to ban the company amid security and intelligence sharing concerns. A final decision is expected to be made soon. The United Kingdom will allow Huawei to supply […]
US President Donald Trump complained this week at the World Economic Forum in Davos that the United States has not been “treated fairly” by the World Trade Organization (WTO). Professor Richard Wolff joins Boom Bust to discuss Trump’s comments, and what may be in store for Transatlantic relations.
Three European signatories to the Joint Comprehensive Plan of Action, also known as Iran nuclear deal, initiated the accord’s dispute mechanism on 14 January thus threatening to put an end to the agreement’s existence following the US withdrawal from it in 2018. German Defence Minister and head of a governing coalition party, the CDU, Annegret […]
In a bid to pressure the UK into barring Huawei from Britain’s 5G rollout, US officials reportedly went as far as to imply that allowing it on the market would be “madness.” The fears were dampened by the UK spy chief, however. The US has upped the rhetorical ante on its largely unfounded claims that […]
A Japanese businessman known as the Tuna King really goes to great lengths when it comes to giving sushi lovers the “best” bluefin tuna. This year he paid 193.2mn yen ($1.8mn) for one, the second-highest price on record. It is the second year in a row that Kiyoshi Kimura, who heads a popular sushi restaurant […]
As part of its strategic goal of building a nationwide high-speed rail network, Beijing plans to invest about 800 billion yuan (US$114.36 billion) on the expansion of the country’s railways in 2020. According to China’s Ministry of Transport (MOT), 1.8 trillion yuan might be spent on roads and waterways, and about 90 billion yuan on […]
US tariffs meant to boost the US economy by eliminating “unfair” trade practices, primarily by China, actually took a toll on manufacturing sector jobs and hiked prices, a study by the US Federal Reserve Board has concluded. The Fed has become the latest body to stress the damaging consequences of “unprecedented” punitive tariffs unleashed by […]
Very ‘disturbing’ documents have been submitted to the Federal Aviation Administration by Boeing on the same day the company fired its CEO Dennis Muilenburg. They contained a new batch of messages between Boeing employees on the development of the troubled 737 MAX, showing concerns about the aircraft.
Chinese giants Huawei and Oppo plan to create an alternative to Google mobile services and seek cooperation with Indian developers. Their success may spell an end to Android’s market domination in Asia, and possibly beyond.
Russian flagship carrier Aeroflot has formally canceled an order for 22 Boeing 787 Dreamliners valued at about $5.5 billion. This adds to the pressure on Boeing due to the grounding of 737 MAX jets after two recent crashes. The cancelation was not announced by either side but was buried in Boeing’s monthly order release. According […]
The national carrier of Pakistan may purchase Sukhoi Superjet 100 (SSJ-100) planes, according to Russian Industry and Trade Minister Denis Manturov, who is currently in Islamabad on an official visit. “We interact directly with Pakistan Air. We have agreed that in January we will continue working on it, taking into account the fact that we […]
The Chinese tech giant has made strides to replace American-made hardware, software and technology in its 5G internet and smartphone divisions after being placed on a US Commerce Department blacklist earlier this year. Huawei has begun manufacturing 5G base stations – the towers facilitating wireless communication between mobile devices and internet networks, without the use […]
In mid-October, the Handelsblatt newspaper reported that fresh security requirements for telecommunications networks in Germany does not contain a clause to keep Huawei from taking part in the construction of 5G infrastructure. Washington has repeatedly warned Berlin over Huawei taking part in developing Germany’s 5G infrastructure.