Afternoon Coffee: U.S. Indicts China’s Huawei Company; Fintech Firms Raised $40 Billion Last Year

U.S. officials on Tuesday announced an indictment against Huawei Technologies, the Chinese telecommunications company, the Associated Press reports. China asked the U.S. to stop its crackdown on the firm, which the U.S. charged with stealing technology secrets and violating sanctions against Iran, the AP reports.

All of this comes amid shaky trade talks between the two nations that are expected to resume Wednesday in Washington, the AP reports.

“U.S. pressure on China is set to intensify further when intelligence chiefs brief Congress Tuesday on worldwide threats, which are expected to include Chinese cyberespionage and Huawei,” the AP reports.

Fintech Flooded with Funding

A CNBC story reports that financial technology venture-capital funding set a record for last year, stating:

“Venture capital-backed financial technology companies raised a record $39.57 billion from investors globally in 2018, up 120 percent from the previous year, according to research by data provider CB Insights published on Tuesday.

“Funding was raised through 1,707 deals, up from 1,480 in 2017, the research said.”

Investors hope to steal market share from large financial institutions with technology that’s easy to use and cheaper than traditional services, CNBC reports.

Boeing Debates Building the 797

Bloomberg News airline reporter Julie Johnsson takes a look at a weighty decision by Boeing: Does It Build the New 797 Airliner? The answer has implications for competitors like Airbus, for consumers seeking cheaper flights/new routes, and for Boeing itself. The new airliner could cut into sales of its 787 class of planes.

Teen, Mom Tried to Warn Apple of Bug

An Arizona mom and her teen son tried to warn Apple about the FaceTime bug that got so much attention this week, The Wall Street Journal reports. “Short of smoke signals, I was trying every method that someone could use to get ahold of someone at Apple,” said Michele

Thompson, 43, who lives with her son, Grant, 14, in Tucson. The Journal reports that “it wasn’t until word of the bug started spreading more widely on social media that Apple disabled the software feature at the heart of the issue.”

After Apple reported its earnings Tuesday afternoon, shares rose 4%, and the company's rough end to 2018 may not have gotten worse — suggesting some stability, Bloomberg News reports.

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