Reuters Before the Bell: Exclusive: Huawei needs 3-5 years to resolve British security fears - letter

Click to View in Browser Wednesday, February 6, 2019 Exclusive: Huawei needs 3-5 years to resolve British security fears - letter A $2 billion effort by China's Huawei to address security issues raised in a British government report last year will take between three and five years to produce results, according to a company letter to British lawmakers seen by Reuters. Eli Lilly cuts 2019 forecast on trial failure, Loxo deal Eli Lilly and Co cut its 2019 forecast for profit and revenue on Wednesday, citing the recent trial failure of its conditionally approved cancer drug Lartruvo and costs related to its pending acquisition of Loxo Oncology. German ministers discuss Huawei's role in 5G network: sources German ministers were due to meet on Wednesday to discuss how to safeguard security in future 5G mobile networks, two government sources said, amid intense debate over whether to shut China's Huawei Technologies out of the market. Aussie dollar goes down under as global slowdown forces RBA shift The Australian dollar nosedived on Wednesday after its central bank opened the door to a possible rate cut, in yet another indication the global economic slowdown is persuading policymakers to go easy on rate hikes. EU competition policy under fire after Siemens-Alstom deal blocked Siemens and Alstom's plan to create a European rail champion collapsed on Wednesday after EU regulators rejected the deal, prompting Germany and France to call for an overhaul of EU competition policy to better meet global challenges. Germany presses for changes in EU competition rules after Siemens/Alstom deal blocked Europe should change its competition rules to facilitate cross-border mergers and create European champions which can compete with rivals from China and the United States, German Economy Minister Peter Altmaier said on Wednesday. Bouygues confident about Alstom prospects despite EU ruling French conglomerate Bouygues, which has a 28 percent stake in Alstom, said it regretted the European Union's decision to veto a merger between Alstom and Siemens but added it was confident over Alstom's prospects. Volvo to recall 167,000 cars due to possible tailgate fault Volvo Cars said on Wednesday it would recall 167,000 of its XC60 model vehicles due to a possible fault with the electric tailgate mechanism. Carlyle quarterly earnings jump 35 percent on higher fees Private equity firm Carlyle Group LP on Wednesday reported a 35 percent rise in distributable earnings for the final three months of 2018, supported by a rise in the fees it earns on the money it manages for investors. SoftBank's Son unveils $5.5 billion buyback, laments share price Japan's SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent increase in quarterly operating profit buoyed by rising valuations for its technology investments. Related Video Markets: bank results jangle European nerves Snap's numbers give investors reason to cheer Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook