Home Business and Economics This Week In Business: Huawei, Fender, and More

This Week In Business: Huawei, Fender, and More


Huawei Proposes Move To “Welcoming Country”

Chairman Liang Hua of Huawei said he would consider moving away from Western countries if the company continues to face restrictions. The company is under scrutiny from Western governments, who fear that their technology might be used for spying. Huawei is a smartphone producer, but also has a substantial telecoms infrastructure, particularly in 5G.

However, the security of their new technology concerns Western countries. But, Huawei stressed that they follow regulations wherever it sets up. They also insisted that they have no ties to the Chinese government.

Fender Launches New U.S. Based Acoustic Guitar

Fender Guitar launched a new California based acoustic guitar. This is the first acoustic guitar the company has produced in 50 years. On Tuesday, they launched the American Acoustasonic Series Telecaster. Currently, they run for almost $2,000 and are produced in Corona, California.

Fender said the they aimed the guitar at the “working musician” and that the decision to produce in California was to assure quality. Right now, Fender is producing low end acoustics aimed for beginner players.

U.S. House Market Hits New Low

The U.S. house market hit a new low in December. The NAR reported that prices were at the lowest they had been in three years. Existing home sales dropped 6.4% to 4.99 million units last month. Over the whole year, however, sales fell 3.1%to 5.34 million units.

Overall, the mortgage rate dropped to a four month low while price increases were the smallest they’ve been since 2012. In addition, wage increases outgrew house gains for the first time since then.

Trump Hints At Deal With China

On Saturday, President Donald Trump said there has been progress toward a trade deal with China. However, he denied that he was considering lifting tariffs on Chinese imports. “Things are going very well with China and with trade,” he told reporters at the White House.

The Trump administration imposed the tariffs on Chinese goods in order to put pressure on Beijing. They want them to meet a long list of demands that would rewrite the terms of trade between the two countries. The demands include changes to Chinese policies on various trade barriers.

Dyson Moves Head Office To Singapore

British appliance maker Dyson announced plans to move their headquarters to Singapore. After being based in Wiltshire for years, this move is to “make us future-proof for where we see the biggest opportunities.” Dyson already has a plant in Singapore, and announced plans to build an electric car factory there.