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UPDATE 2-UK set to ban Huawei from 5G, angering China and pleasing Trump

Tue, 14th Jul 2020 08:45

* PM Johnson to chair National Security Council

* End of 'golden era' as UK set to ban Huawei

* Timing and extent of ban is unclear

* China has warned UK against banning Huawei

* United States wants UK to ban Huawei
(Adds detail)

By Paul Sandle and Guy Faulconbridge

LONDON, July 14 (Reuters) - Prime Minister Boris Johnson is
set to ban Huawei from Britain's 5G network on Tuesday, angering
China but delighting U.S. President Donald Trump by signalling
that the world's biggest telecoms equipment maker is no longer
welcome in the West.

The United States has pushed Johnson to reverse his January
decision to grant Huawei a limited role in 5G, while London has
been dismayed by a crackdown in Hong Kong and the perception
China did not tell the whole truth over the coronavirus.

Now, as Britain prepares to cast off from the European
Union, Johnson will risk the ire of the world's second largest
economy by ordering a purge of Huawei equipment which the United
States says could be used to spy on the West.

Johnson chaired a meeting of Britain's National Security
Council (NSC) on Tuesday morning to discuss Huawei. Media
Secretary Oliver Dowden will announce the decision to the House
of Commons at around 1130 GMT.

The immediate excuse for the about turn in policy is the
impact of new U.S. sanctions on chip technology, which London
says affects Huawei's ability to remain a reliable supplier.

"Obviously the context has changed slightly with some of the
sanctions that the U.S. has brought in," Environment Secretary
George Eustice told Sky News when asked about Huawei.

In what some have compared to the Cold War antagonism with
the Soviet Union, the United States is worried that 5G dominance
is a milestone towards Chinese technological supremacy that
could define the geopolitics of the 21st century.

With faster data and increased capacity, 5G will become the
nervous system of the future economy - carrying data on
everything from global financial flows to critical
infrastructure such as energy, defence and transport.

After Australia first recognised the destructive power of 5G
if hijacked by a hostile state, the West has become steadily
more worried about Huawei. https://www.reuters.com/investigates/special-report/huawei-usa-campaign/

White House national security adviser Robert O'Brien is
meeting representatives of France, the UK, Germany and Italy in
Paris this week to discuss security, including 5G.

UK Telecoms firms already had to cap Huawei's role in 5G at
35% by 2023. Reducing it to zero over another two to four years
is now being discussed, though going too fast could disrupt
services and prove costly.

The West is trying to create a group of rivals to Huawei to
build 5G networks. Other large-scale telecoms equipment
suppliers are Sweden's Ericsson and Finland's Nokia
.

END OF 'GOLDEN ERA'?

Hanging up on Huawei, founded by a former People's
Liberation Army engineer in 1987, marks the end of what former
Prime Minister David Cameron cast as a "golden era" in ties,
with Britain as Europe's top destination for Chinese capital.

Cameron toasted the relationship over a beer with President
Xi Jinping in an English pub, which was later bought by a
Chinese firm.

Trump, though, has repeatedly asked London to ban Huawei
which Washington calls an agent of the Chinese Communist state -
an argument that has support in Johnson's Conservative Party.

Huawei denies it spies for China and has said the United
States wants to frustrate its growth because no U.S. company
could offer the same range of technology at a competitive price.

China says banning one of its flagship global technology
companies would have far-reaching ramifications.

In January, Johnson defied Trump by allowing what he called
high-risk companies' involvement in 5G, capped at 35%.

Huawei and customers including BT, Vodafone
and Three are waiting to see how extensive the new ban
will be and how quickly it will be implemented, with hundreds of
millions of pounds riding on the outcome.

(Writing by Paul Sandle and Guy Faulconbridge
Editing by William Maclean and Peter Graff)

More News
6 Sep 2023 15:46

UK dividends calendar - next 7 days

Thursday 7 September 
Admiral Group PLCex-dividend payment date
Alpha Financial Markets Consulting PLCex-dividend payment date
Anglo-Eastern Plantations PLCex-dividend payment date
Assura PLCex-dividend payment date
Athelney Trust PLCex-dividend payment date
Baltic Classifieds Group PLCex-dividend payment date
Blackrock World Mining Trust PLCex-dividend payment date
CLS Holdings PLCex-dividend payment date
CT UK Capital & Income Investment Trust PLCex-dividend payment date
Derwent London PLCex-dividend payment date
Develop North PLCex-dividend payment date
DS Smith PLCex-dividend payment date
Empiric Student Property PLCex-dividend payment date
GlobalData PLCex-dividend payment date
Greggs PLCex-dividend payment date
Harbour Energy PLCex-dividend payment date
Pollen Street PLCex-dividend payment date
Prudential PLCex-dividend payment date
Relx PLCdividend payment date
RM Infrastructure Income PLCex-dividend payment date
Serco Group PLCex-dividend payment date
Severfield PLCex-dividend payment date
VPC Specialty Lending Investments PLCex-dividend payment date
XP Power Ltdex-dividend payment date
Zotefoams PLCex-dividend payment date
Friday 8 September 
abrdn New Dawn Investment Trust PLCdividend payment date
Avon Protection PLCdividend payment date
Berkeley Group Holdings PLCdividend payment date
Chemring Group PLCdividend payment date
Ecofin US Renewables Infrastructure Trust PLCdividend payment date
iomart Group PLCdividend payment date
Keller Group PLCdividend payment date
Lookers PLCdividend payment date
Moneysupermarket.com Group PLCdividend payment date
Nichols PLCdividend payment date
Tritax EuroBox PLCdividend payment date
Tyman PLCdividend payment date
Monday 11 September 
AstraZeneca PLCdividend payment date
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Rentokil Initial PLCdividend payment date
Residential Secure Income PLCdividend payment date
ThomasLloyd Energy Impact Trust PLCdividend payment date
Tuesday 12 September 
Ashtead Group PLCdividend payment date
Foxtons Group PLCdividend payment date
Lindsell Train Investment Trust PLCdividend payment date
Lloyds Banking Group PLCdividend payment date
LMS Capital PLCdividend payment date
Wednesday 13 September 
BT Group PLCdividend payment date
Franchise Brands PLCdividend payment date
Monks Investment Trust PLCdividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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5 Sep 2023 11:35

BT hangs up on new copper lines on its Openreach UK network

LONDON, Sept 5 (Reuters) - Britain's BT stopped selling new voice copper telephone lines on its Openreach national network after more than a century, marking a milestone in its journey to a full fibre digital network.

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4 Sep 2023 17:04

IN BRIEF: BT to issue EUR850.0 million 4.25% notes due in 2033

BT Group PLC - London-based telecommunications provider - Will issue EUR850.0 million in notes with a 4.25% coupon due January 6, 2033. Says the notes are to be issued as part of its EUR20.00 billion medium-term note programme.

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25 Aug 2023 11:16

Director dealings: BT non-exec, Aquila Services chair buy shares

(Sharecast News) - BT Group was on the list of director purchases on Friday, after a non-executive director picked up almost $0.1m worth of shares.

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25 Aug 2023 11:15

IN BRIEF: BT non-executive director Jones buys USD100,000 in shares

BT Group PLC - London-based telecommunications provider - Non-Executive Director Maggie Chan Jones buys 70,000 shares at USD1.42, worth USD99,400, on Wednesday in New York.

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23 Aug 2023 16:50

Lapsus$ hacker targeted Uber, Revolut, Grand Theft Auto maker, London jury finds

LONDON, Aug 23 (Reuters) - A teenage member of the Lapsus$ hacking group was on Wednesday found by a London jury to have hacked Uber and fintech firm Revolut, and blackmailed the developers of best-selling videogame Grand Theft Auto.

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23 Aug 2023 13:21

Teen hacked Uber, Revolut and Grand Theft Auto maker, London jury finds

LONDON, Aug 23 (Reuters) - A teenage member of the Lapsus$ hacking group was on Wednesday found to have hacked Uber and fintech firm Revolut then blackmailed the developers of best-selling videogame Grand Theft Auto after a trial at a London court.

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3 Aug 2023 17:06

UK's FTSE 100 slips after dour earnings; BoE hikes rate as expected

BoE hikes by an expected 25-bps

*

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3 Aug 2023 12:17

LONDON MARKET MIDDAY: Pound under pressure after BoE hike

(Alliance News) - European equities went into Thursday afternoon on the back foot, extending losses suffered on Wednesday following a US credit rating cut from Fitch, while the pound struggled to make headway after the Bank of England raised rates by 25 basis points, as expected.

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31 Jul 2023 17:27

UK's FTSE 100 ends marginally higher, notches monthly gains

Beverages down on Heineken's outlook

*

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31 Jul 2023 12:06

LONDON MARKET MIDDAY: Europe rises but FTSE 100 underperforms

(Alliance News) - Stock prices in London were lower at midday on Monday, though European peers were on the rise, following favourable eurozone economic data.

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31 Jul 2023 10:59

UK's BT appoints Telia boss Kirkby as new CEO

BT board member Kirkby will take over by early 2024

*

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31 Jul 2023 08:56

LONDON MARKET OPEN: Stocks down; BT appoints Allison Kirkby as boss

(Alliance News) - Stock prices in London opened lower on Monday, as investors eye some key data from the eurozone due out this morning.

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31 Jul 2023 08:36

TOP NEWS: BT appoints Telia CEO Allison Kirkby to lead company

(Alliance News) - BT Group PLC on Monday named Allison Kirkby as its new chief executive officer, about three weeks after the company officially started its search for a new CEO.

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31 Jul 2023 07:48

LONDON BRIEFING: BT names Kirkby as new CEO; Pearson profit up

(Alliance News) - Stocks in London are called to start the week on the back foot, after new data showed that the Chinese manufacturing sector continued to slump in July.

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