Afternoon Coffee: Huawei ban to hit suppliers; Walmart to fully integrate

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Ratings agency S&P has forecast that the U.S. ban on Huawei was more likely to hit U.S. suppliers to Huawei than telecom companies. It said in a report that China would be forced to boost its own tech investment and reduce reliance on foreign suppliers. "In turn, this could heighten competition in the technology sector and potentially lower the long-term growth prospects of U.S. technology firms," the report said.

Beyond Meat CEO says company supply chain ready for fast food volume

Top company executives said plant-based burger maker Beyond Meat's supply chain was ready for fast-food volumes. CEO Ethan Brown said on the company's first-ever earnings call after it went public last month that it could produce beyond what current forecasts required.

Walmart on its way to fully integrating

Walmart is finally taking the steps necessary to fully integrate into its own retail business, over two years after it bought the e-commerce platform. Under it, Simon Belsham’s role as Jet president will be eliminated. He will remain until August. Jet team leaders will now report to Kieran Shanahan, who’s been overseeing Walmart’s food, consumables and health-and-wellness divisions online.

Understanding hardships that truckers face

Owner Operator Independent Drivers Association (OOIDA) President and CEO Todd Spencer told the U.S. House of Representatives subcommittee that crucial for Congress to understand the vital role truck drivers play in the nation's economy before trying to fix the industry. Spencer was one of eight witnesses for the Highways and Transit subcommittee hearing titled, “Under Pressure: The State of Trucking in America” on Wednesday. “Unfortunately, trucking has been fundamentally broken for years, and conditions show little sign of improving,” Spencer said.

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