Profit margins were up, but sales are suffering on April 28, 2021, 10:27
What just happened? Following its first-ever quarterly revenue decline in Q4 2020, Huawei has seen its sales figures fall for the second quarter in a row due to US sanctions. The Chinese giant said revenue declined following the sale of its Honor phone brand in November, but there was a bit of good news: profitability was up 3.8 percentage points to 11.1%.
It’s been two years since Donald Trump added Huawei and 70 affiliates to the Bureau of Industry and Security (BIS) Entity List, meaning US companies could no longer do business with these firms without a license. The result is that Google’s apps and services no longer appear on the Chinese giant’s new products, making them less appealing to western consumers.
Ayala unit readies drilling plan for Palawan block
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Texas Heart Institute hires Duke University Health System CMO as president and CEO
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Farm Credit issues special patronage payment
FacebookTwitterEmail
Farm Credit Illinois said Monday that a one-time $10 million pre-season patronage distribution is being delivered this week to the cooperative’s members.
An additional $30 million will be paid to members in mid-June as the traditional annual cash patronage and $2.7 million in patronage will be distributed separately to qualified loans in its Capital Markets Group agribusiness loan portfolio. Patronage is distributed based on the business value each borrower contributed to the cooperative in 2020.
“This year’s special pre-season patronage recognizes the unusual circumstances and challenges members faced in 2020,” according to Farm Credit Illinois board Chairman Eric Mosbey.