Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Chinese telecom giant Huawei is engaged in a "battle" with the U.S. government and faces a "life or death crisis," the company said in a memo to employees.
What Happened
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Huawei founder and CEO Ren Zhengfei — known for using military jargon in communicating with employees — pleaded to employees to battle harder on the front lines.
The CEO said in a memo obtained by CNBC that Huawei's top priority is for all workers to "make contributions" to the company.
The second priority is to focus on promoting talent and adding "new blood," Ren said.
Huawei was named as a national security threat by President Donald Trump months ago and banned from conducting certain business activities with American companies. It remains unclear if the Chinese company will be cleared to resume all prior relationships.
Why It's Important
As a counter to the Trump's administration's moves against Huawei, Ren told employees it is important to seek greater efficiencies, according to CNBC.
Want Private Access to Benzinga Analyst?
Check out the latest strategies our team of experts are using every week so that you can always adapt to the market like the pros!—Get FULL Access to This Week's Webinar Here.
Huawei needs to axe repetitive jobs, simplify reporting structures and make sure clients pay their bills on time to avoid cash flow problems, the CEO said.
Ren also said the company will accelerate the purchase of important equipment to keep up with customer demand.
What's Next
Trump said in May it is "possible" Huawei could be part of a broader trade deal with China.
Yet over the weekend, he said he has no interest in doing business with Huawei "because it is a national security threat."
Related Links:
More Huawei Affiliates Added To Entity List
Huawei To Google: We Don't Need You Anymore
Public domain photo via Wikimedia.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.