Because he was powerful to override making the disclosure with other board members. Plus the auditors hadn’t a clue.
Sure the Japs spent World War Two commuting suicide because they were told to. If the CEO in Japan asked you to pay him a few bob extra there’d be no questioning him.
Apple taking a bit of a pummeling the past month. Down nearly 5% today. Talks of production cuts on the new iPhone models too as sales are slower than predicted. Their big issue is that the phones have gotten so expensive, combined with relatively minor feature improvements means people are putting off upgrading older models. Expect some new iOS update to be pushed out soon to banjax the older phones.
Thats the issue, they were rumbled on that and now the models are lasting longer
Probably gonna get fucked legally on that as well.
Tim cook must have jobs spinning in his grave
In an astonishing development, Meng Wanzhou, CFO of Huawei and daughter of the company’s founder has been arrested in Vancouver and is facing extradition to the US to face undisclosed charges (most likely sales to Iran). Asian markets and US equity futures down hard on the news. Huawei is the largest telecommunications equipment manufacturer in the world and the second largest smartphone manufacturer.
What’s the problem here?
Violation of sanctions I assume, selling US equipment to Iran.
Could it be linked to Chinese spying? Huawei have long been suspected of building in backdoors that allow Chinese intelligence remote access to all the devices they make. A lot of countries (including the US I think) no longer allow Govt departments to purchase Huawei hardware.
I’d say it’s move as part of trade negotiations as well. Huwai is a massive employer in China. The US can effectively ban the whole world from doing business with them
You’d want your head examined to be letting anyone other than the Americans spy on you through your phone.
and GCHQ, sure we’ve trusted them to do it since we first got the telephone
Those flaming gallahs in Australia passed a bill today that requires all software/hardware/tech companies to have a backdoor in their products to allow the Government to have access to encrypted communications. What a fuck up of a move.
Will the Tech companies refuse? Funnily enough the Ozzies banned Huwaei from Government contracts for having inbuilt backdoors for the Chinese government
I’d imagine they will heavily resist it. The Australian market isn’t huge so the likes of Apple might just withdraw from there. It will seriously damage the IT industry in Oz, especially tech exporters.
And today most of the UK network crashes.
Tesla is really flying at the moment, consistently above $350. Musk has silenced the doubters.
They started taking orders for the Model 3 in some European countries today, demand will be through the roof in Europe.
FedEx just confirmed what anyone paying attention suspects, an international slowdown led by Europe. Expect more market carnage after failed rallies the past few days. We are in a bear market folks, tighten your belts.
Ireland will go into recession in q3 2018.