Google has suspended any business with Huawei requiring the transfer of hardware, software and technical services, except those publicly available through open-source licensing, a source said on Sunday.
The move is a blow to the Chinese technology company, which the US government has sought to blacklist around the world.
The decision is expected to hobble Huawei’s smartphone business outside China as the tech giant will immediately lose access to updates to Google’s Android operating system.
The next version of its Android smartphones will also lose access to popular services including the Google Play Store and Gmail and YouTube apps.
“Huawei will only be able to use the public version of Android and will not be able to get access to proprietary apps and services from Google,” the source said.
The Trump administration on Thursday added Huawei to a trade blacklist, immediately enacting restrictions that will make it extremely difficult for the company to do business with US companies.
On Friday, the US Commerce Department said it was considering scaling back restrictions on Huawei to “prevent the interruption of existing network operations and equipment".
It was not immediately clear on Sunday whether Huawei’s access to mobile software would be affected.
The extent to which Huawei will be hurt by the US government’s blacklist is not yet known as its global supply chain assesses the impact.
Chip experts have questioned Huawei’s ability to continue to operate without US help.
Details of the services affected by the suspension were still being discussed Google, the source said.
Huawei lawyers are also studying the effects of the blacklist, a spokesman for the company said on Friday.
The tech company will still have access to Android Open Source Project, which is available for free to anyone who wishes to use it. There are about 2.5 billion active Android devices worldwide, Google estimates.
Huawei says it has spent the past few years preparing a contingency plan by developing its own technology in case it is blocked from using Android.
Some of this technology is already being used in products sold in China, the company has said.
Eric Xu, rotating chairman of Huawei, in March struck a defiant note in anticipation of retaliatory actions by US companies.
“No matter what happens, the Android Community does not have any legal right to block any company from accessing its open-source licence,” Mr Xu said.
Popular Google apps such as Gmail, YouTube and the Chrome browser that are available through Google’s Play Store will disappear from future Huawei handsets because those services require a commercial agreement with Google.
But users of existing Huawei devices who have access to the Google Play Store will still be able to download app updates provided.
Apps such as Gmail are updated through the store, unlike operating system updates which are typically handled by phone makers and telecoms operators, which the blacklist could affect, the source said.
The effect is expected to be minimal in the Chinese market. Most Google mobile apps are banned in China, where alternatives are offered by domestic competitors such as Tencent and Baidu.
Huawei’s European business, its second-biggest market, could be hit as it licences these services from Google in Europe.
“Having those apps is critical for smartphone makers to stay competitive in regions like Europe,” said Geoff Blaber, vice president of research at CCS Insight.
THE%20SWIMMERS
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ESally%20El-Hosaini%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ENathalie%20Issa%2C%20Manal%20Issa%2C%20Ahmed%20Malek%20and%20Ali%20Suliman%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
'Of Love & War'
Lynsey Addario, Penguin Press
'Moonshot'
Director: Chris Winterbauer
Stars: Lana Condor and Cole Sprouse
Rating: 3/5
Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
ENGLAND WORLD CUP SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Jos Buttler (wicketkeeper), Tom Curran, Joe Denly, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
Australia World Cup squad
Aaron Finch (capt), Usman Khawaja, David Warner, Steve Smith, Shaun Marsh, Glenn Maxwell, Marcus Stoinis, Alex Carey, Pat Cummins, Mitchell Starc, Jhye Richardson, Nathan Coulter-Nile, Jason Behrendorff, Nathan Lyon, Adam Zampa
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km
