Huawei says US ban will cost it $30 billion in lost sales over two years - CNN

"In the next two years, I think we will reduce our capacity, our revenue will be down by about $30 billion compared to the forecast, so our sales revenue this year and next year will be about $100 billion," Ren Zhengfei said Monday during a panel discussion at Huawei's headquarters in Shenzhen.

The embattled Chinese tech firm has become a flashpoint in the US-China trade war. The Trump administration delivered a huge blow on May 16, when it added Huawei to a blacklist that bars US companies from selling it technology without first obtaining a license to do so.

Huawei became the world's largest telecommunications equipment maker and the No. 2 smartphone brand, despite being locked out of the US market for nearly a decade.

But just four weeks on the US trade blacklist is hitting the company hard, hurting its smartphone business and eroding its dominance in 5G equipment.

So far this year, overseas smartphone unit sales have "dropped by 40%," Ren said.

Mobile networks in countries like Japan and the United Kingdom have delayed the launch of Huawei smartphones, and companies like Google (GOOGL) and Facebook (FB) have been forced to suspend access to some of their services from the Chinese firm's new devices.

This is a developing story.

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https://www.cnn.com/2019/06/17/tech/huawei-ren-zhengfei/index.html

2019-06-17 08:36:00Z
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It's been 100 years since we've seen anybody like Elon Musk — here's why that's so disorienting - Business Insider

Tesla CEO Elon Musk.Tesla

• Tesla CEO Elon Musk is more like an old-school automotive entrepreneur than a modern-day business manager.
• His personality is consistent with what it always takes to start a car company, but it's unfamiliar to many because no one has started a major automaker in decades.
• If we had access to a time machine, we could go back to the early 20th century and find a lot more people who were like Elon Musk.
• Visit Business Insider's homepage for more stories.

If you had a time machine and could travel back to the turn of the 19th century, you'd find a world that still made great use of the horse — but that was newly captivated by a clattering new contraption, the motor car.

The automobile was the internet of the late 1800s and early 1900s, attracting a frenzied level of entrepreneurship, launching hundreds of new companies, and transforming a shipping center in the upper Midwest into Motown, the center of what would become the auto industry.

The car business is now very different. Ford and General Motors were each founded over 100 years ago. Upstart Toyota has been manufacturing cars since the 1930s. Even dashing Ferrari has been around since 1939, selling road cars since the late 1940s.

Automakers operate at a huge scale, across international time zones, employing hundreds of thousands of people while selling millions of vehicles annually. They can't be run by visionaries anymore because visionaries, while valuable, aren't good at keeping the giant machine humming.

This is why Tesla CEO Elon Musk is such a shock. His personality isn't so different from one of those determined entrepreneurs from the 1900s who wanted to stick a motor on a carriage and get people moving without having to hitch a horse. For grizzled industry veterans, Wall Streeters, and Musk critics, he can be tough to take.

But he's not usual, in the history of people who start car companies. In fact, he's true to type. Here's why:

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https://www.businessinsider.com/why-tesla-ceo-elon-musk-is-like-this-an-explainer-2019-6

2019-06-16 13:06:01Z
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Glitzy casino opens on industrial waterfront. Will it work? - The Philadelphia Inquirer

Nearly all casinos that have opened in the Northeast in recent years — including Massachusetts' MGM Springfield and Plainridge Park — have struggled to meet revenue projections, and Encore will likely be no different, said Paul DeBolle, a professor at Lasell College in Newton, Massachusetts, who has been tracking regional casino revenues.

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https://www.inquirer.com/business/glitzy-casino-opens-industrial-waterfront-will-it-work-20190616.html

2019-06-16 13:02:46Z
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Massive Target Register Outage Causes Confusion At Stores Nationwide - HuffPost

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https://www.huffpost.com/entry/target-register-outage_n_5d0572fae4b0304a12109995

2019-06-16 01:26:00Z
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Possible delays continue at Newark airport after plane skids off runway - News 12 New Jersey

NEWARK -

Cancellations and delays are continuing into Sunday at Newark Liberty International Airport after a plan skidded off the runway.

According to Flight Aware, there are 34 cancellations and 24 delays in and out of the airport.

On Saturday, United Airlines Flight 627 from Denver was forced to make a malfunction landing due to several flat tires. Dozens of first responders surrounded the plan to help all 166 passengers get off safely.

MORE: ‘No time to scream’: Plane skids off runway at Newark airport

Newark Liberty International Airport was briefly shut down due to the incident.

One passenger on board says the landing was so fast, no one had time to panic. No serious injuries were reported.

The plane has since been removed from the runway. The airport encourages passengers to check with your carrier for possible schedule changes.

 

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http://newjersey.news12.com/story/40654927/possible-delays-continue-at-newark-airport-after-plane-skids-off-runway

2019-06-16 10:15:00Z
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J.J. Watt is calling on fans to buy back Whataburger. The Texas governor is on board - CNN

The family-owned Texas chain announced Friday it was selling its majority ownership to a Chicago investment firm, prompting mixed reactions from fans and even one of the biggest names in the NFL.

"Ok, I say we all chip in and buy Whataburger back," Watt tweeted. "Make honey butter chicken biscuits available all day, add kolaches to the menu and change nothing else. Especially not the ketchup."

Even though he was born and raised in Wisconsin, the Lone Star State has been Watt's adoptive home. And just like many Texans, he loves Whataburger.

While Watt might be spicy about the sale of Whataburger -- and not because of the chain's ketchup -- another NFL superstar, Kansas City Chiefs quarterback Patrick Mahomes didn't seem too unhappy about the sale.

"I'm down as long as I can get one in KC," Mahomes replied to Watt's tweet.

Would the NFL star save Whataburger? We don't know yet. But Texas Gov. Greg Abbott thinks he should.

On Saturday, Abbott simply tweeted a meme with a photo of former President George W. Bush that read, "Get in J.J., We're saving Whataburger."

It's unclear whether Watt would take up the governor's offer.

Watt has a long history of raising money for more serious situations.

After Hurricane Harvey devastated areas around Houston and the rest of the Gulf Coast in 2017, Watt raised more than $41.6 million for those impacted by the floods and damage.

Last year, he offered to pay for the funerals of the 10 people killed in a shooting at Santa Fe High School. And after the Sandy Hook shooting in 2012, Watt invited some of the children from Sandy Hook Elementary to meet him and participate in a day of football at the Texans' stadium.

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https://www.cnn.com/2019/06/15/business/whataburger-jj-watt-texas-trnd/index.html

2019-06-15 23:30:00Z
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Target Registers Across Country All Malfunction at Once, Causing Massive Lines - Gizmodo

A Target store in San Francisco experiencing long lines due to a software glitch.

Photo: Michael Liedtke (AP)

Massive lines and an inability to make purchases were reported across the country at Target stores after the retailer’s cash registers malfunctioned due to a “systems issue,” though hours later Target announced it had resolved the issue.

According to CNN, “employees at three different locations in Georgia” said that registers had been down for 45 minutes as of 3:00 p.m. ET. Clerks were instead forced to use cell phones to process transactions, according to BuzzFeed News, with customers reporting hour-long waits to check out and in some cases abandoning their carts to go elsewhere. Staff in some locations apparently handed out free drinks and snacks to affected customers. Photos show at least some stores were closed, while a customer in Richmond told SFGate that stopgap checkout methods took up to 15 to 20 minutes per customer.

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A Target location in San Francisco on June 15, 2019.

Photo: Michael Liedtke (AP)

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“They handled the situation like pros,” Mississippi resident and D’Iberville location customer Jeff Clark told BuzzFeed. “They kept bringing out Starbucks shooters for everyone because what better way to calm an intense crowd than by giving them caffeine shots!”

“The crowd didn’t get unruly,” Clark told the site. “Just a little whinging here and there.”

“It was just a sea of very frustrated people,” Edmond, Oklahoma customer Brodie Butler told the Washington Post. “People were throwing their things on the ground or just pushing their carts down the aisle and walking away.”

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In 2013, Target’s national credit card database was breached, compromising the security of roughly 40 million accounts’ debit and credit card data, as well as separate data including names, phone numbers, mailing addresses, and email addresses on tens of millions of others. In 2017, Target agreed to pay out $18.5 million in a settlement (estimating the total damage at $202 million).

This does not appear to be a similar situation. Target spokeswoman Danielle Schumann said that after an “initial but thorough review,” it had determined it the outages were not a “data breach or security-related issue” and no data was compromised, BuzzFeed wrote. Staff resolved the problem after two hours.

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https://gizmodo.com/target-registers-across-country-all-malfunction-at-once-1835548476

2019-06-15 22:55:00Z
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