“Another reason to fade the chances of a breakthrough is that the US administration is not under much pressure to compromise at the moment. Our framework for the trade war has consistently been ‘no pain, no deal.’ With the stock market near its all-time high, markets expecting a strong ‘Powell put’ and GDP growth running at more than 3% yoy, the US is likely to try to drive a hard bargain. Like it or not, the Fed’s dovish message of offsetting downside risks encourages trade war escalation," the BofA economists noted.
- U.S. aims to restart China trade talks, will not accept conditions on tariff use
- Beijing wants the US to stop ‘inappropriate’ actions against Chinese firms
- China is now ‘too big to ignore,’ says FTSE analyst
- Jim O’Neill: China could globalize the yuan to challenge the dollar’s dominance
- FedEx warns of ‘macroeconomic weakness and trade uncertainty’ affecting business
Spotify’s complaint to regulators also included allegations beyond Apple’s fees, including steps that Spotify said Apple took after it quit using the App Store’s payment mechanism. The company pointed to tightened App Store rules after 2016 that bar app makers from providing links or buttons to external web pages showing users how to pay for an upgrade to premium subscription outside the App Store.
- Inside Apple’s team that greenlights iPhone apps for the App Store
- Apple bought autonomous vehicle start-up Drive.ai
“Given its robust infrastructure, operational capacity, and distribution reach, Amazon-PillPack is uniquely positioned to negotiate directly with payers (insurers) and displace CVS Caremark’s mail-based services," CVS argued in support of its motion for a preliminary injunction.
While the Chinese firm lagged other firms somewhat in terms of SEPs when it came to 4G, it is the leader in the 5G age. Huawei has the largest portfolio of patents for 5G — about 1,554 SEPs — and is ahead of Nokia, Samsung and LG Electronics, according to IPlytics, a market intelligence firm that tracks patents.
“Huawei knows … enforcing patents and asking for royalties is expensive and also not their main business," Pohlmann told CNBC. “Royalties through patents is a small fraction compared to how much revenue they created through smartphones and base stations. But when the latter revenue stream is taken from them, this is just a logical consequence."
Most of the decade-long bull run has been led by a boom in shares of major tech companies which are disrupting traditional industries. Their dominance has ruined the economic moats of many industries. Popularized by Buffett, moats are the competitive advantage a company has over new entrants and its rivals which protect its market share and profitability.
“If Amazon is going to continue to destroy other parts of the retail sector, say, then why should we expect mean-reversion to still hold? We agree that this dynamic is likely behind part of the underperformance of value," Fraser-Jenkins said. “Technology has disrupted industries in a way that may permanently destroy ‘moats’ that used to exist around certain industries."
- Standard Chartered becomes third big lender in Hong Kong to scrap minimum-balance fee as virtual banks get ready to challenge their dominance
- Powell: Fed is ‘insulated’ from short-term political pressure
- Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts