AP Trending SummaryBrief at 6:29 p.m. ESTAfter braving the shock of Republican Donald Trump’s victory in the recent US election, leftists itched for an opportunity to slam the upcoming government by raising the bogey of what they hoped would be four years of crony capitalism by pointing at the pre-eminence of the richest man in the world and owner of Tesla, SpaceX, and X—Elon Musk—in the campaign. However, neither Trump’s declared policies nor his recent comments appear to be making things easier for Musk’s businesses. The tycoon’s hydrogen cars are the latest case in point. In October, Trump made remarks that sparked controversy concerning hydrogen-powered vehicles, even as hydrogen is swiftly gaining recognition as a promising advancement within the automotive sector, set to play a crucial role in the switch to more sustainable transportation solutions. As worries about climate change and air pollution escalate, the need for alternative fuel sources to supplant traditional internal combustion engines has reached unprecedented levels. An opportunity for Musk marred by Trump’s disapproval Hydrogen vehicles are becoming an important component of the green engine market. While electric vehicles (EVs) have received considerable attention in recent years—a proposition of a golden-egg-laying goose for Musk’s Tesla—hydrogen-powered vehicles (HPVs) are increasingly regarded as a viable and complementary option in the pursuit of a zero-emission transportation future. The technology behind hydrogen fuel cells operates by merging hydrogen with oxygen from the atmosphere in a chemical reaction that produces electricity to power the vehicle’s motor. In contrast to battery electric vehicles, which often require lengthy charging periods, hydrogen vehicles can be refueled in a matter of minutes. This advantage in convenience positions them similarly to gasoline-powered cars. Furthermore, hydrogen fuel cells emit no pollutants, with water vapour being the sole byproduct, thus presenting an environmentally friendly alternative to traditional vehicles. So, why would the magnate, who has made several wise decisions of acquisitions and diversifications in his career, let go of this opportunity? He wouldn’t, but here’s the problem: During a recent rally in Michigan, former President Trump made a contentious remark regarding the emerging hydrogen-powered vehicles, vowing to terminate their production. He asserted, “You’re going to build electric cars, and you’re going to build all kinds of cars except hydrogen. There will be no hydrogen. They tend to blow up. And once they blow up, you are not recognisable anymore.” These statements were accompanied by an unfounded anecdote in which Trump claimed that Marjorie Taylor Greene had been involved in an explosion while driving a hydrogen-powered vehicle, despite her presence in the audience. Such remarks from Trump underscore the widespread scepticism and distrust that many individuals harbour towards alternative fuel technologies. While electric vehicles (EVs) enjoy a more favourable perception among consumers, hydrogen vehicles represent only about 0.1 per cent to 0.2 per cent of the global vehicle fleet, in contrast to the 2-3 per cent share held by EVs and plug-in hybrids. Influence of Elon Musk on Trump’s stance Although Trump has voiced opposition to hydrogen vehicles, he has shown some degree of support for electric vehicles. Despite his plans to relax stringent emission regulations on traditional combustion engines, he has indicated that EVs cater to a “small slice” of the population. This endorsement of electric vehicles coincides with his recent appointment of Musk to lead the Department of Government Efficiency (DOGE) under Trump 2.0. Musk, as the CEO of Tesla, is at the forefront of innovation and production in the electric vehicle sector. Furthermore, Trump has announced intentions to impose a 60 per cent import tariff on products from China. His recent remarks regarding hydrogen vehicles, which contrast with his support for electric vehicles, may be linked to his broader strategy to eliminate Chinese competition and bolster the US automotive industry, given that most hydrogen vehicles are manufactured by companies based in Japan and South Korea. What Musk thinks about the future of hydrogen vehicles There was a time when Musk would refer to hydrogen as a “stupid fuel” while toying with ideas of alternative engine fuels. However, earlier this year, his stance appeared to change when Tesla announced plans to produce a hydrogen-powered vehicle by 2026. This apparent change may stem from Musk’s recognition that, to maintain its leadership in sustainable fuel technology, Tesla must broaden its range of vehicle offerings. The future of hydrogen vehicle production under Trump’s administration remains uncertain, and it is unclear whether any plans will materialise. Nevertheless, Trump is not the only roadblock Musk has run into. In addition to potential policy challenges, hydrogen vehicles encounter considerable obstacles related to production costs, refuelling infrastructure, and public awareness. The limited availability of hydrogen refuelling stations, which number approximately 500 worldwide, is a major barrier to the widespread adoption of hydrogen-powered vehicles. Furthermore, hydrogen production continues to depend heavily on natural gas, although the development of green hydrogen, generated from renewable energy sources, is gaining traction. Not the first or only time Musk’s possible venture into hydrogen-run cars isn’t going to be the only fraught plan. Musk, as Trump’s largest individual donor and a fervent supporter, finds himself navigating five key contradictions in their burgeoning symbiotic relationship. These points of tension could either complicate their alliance or lead to mutual reinforcement. China Trump is populating his incoming administration with advisors critical of China’s trade and security policies. In contrast, Musk maintains a cooperative relationship with Chinese officials, having established Tesla as the country’s first fully foreign-owned automaker in 2018. Chinese state media often herald Tesla as a symbol of successful US-China trade collaboration. China is Tesla’s second-largest market, following the United States. The Tesla Gigafactory in Shanghai, operational since 2020, is the largest EV production facility globally. Last year, Tesla sold approximately 600,000 vehicles in China. If relations between the world’s two largest economies deteriorate, Musk’s approach to safeguarding his interests may become a template for others. Trump’s economic policy Musk is cynical about the fundamental principles of Trump’s economic policies, including plans for mass deportations of undocumented immigrants, revised tax structures, and heightened import tariffs. Barely a week before the election, Musk responded to a pseudonymous X post warning of an economic downturn under Trump with a succinct comment: “Sounds about right.” On tax cuts, Musk admitted during a “telephone town hall” that fulfilling such promises could result in painful reductions in government spending. On immigration, The Washington Post revealed that Musk once “worked illegally” in the US while building Zip2, the company that laid the financial foundation for his subsequent ventures. Climate Change Trump’s near dismissal of climate change and his disparagement of EV manufacturing are in direct conflict with Tesla’s core business. Trump has ardently supported traditional carmakers like GM, Ford, and Chrysler while pledging to end federal subsidies for EVs. For Musk, this poses a considerable challenge as Tesla’s valuation and success are both tied to the environmentally friendly narrative of its electric vehicles. Given that the Detroit automakers are Tesla’s competitors, any reduction in federal EV subsidies could hinder Tesla’s momentum, especially during a period of slowed EV sales. Starlink and SpaceX Musk’s Starlink satellite internet service has been crucial in supporting Ukraine’s defence since Russia’s invasion in 2022, facilitating real-time battlefield communication. However, given Trump’s perceived softening towards Vladimir Putin, Starlink’s operations have already undergone some recalibration. SpaceX, which manages Starlink, is deeply reliant on US government contracts. It secured a $1.8 billion deal with the US military and intelligence agencies in 2021 and is a primary launch partner for NASA and the Pentagon. Musk must balance these obligations that pose diplomatic and ethical challenges. Additionally, Starlink and SpaceX depend on terrestrial relay stations worldwide, including in nations like Russia and China. Musk’s alignment with Trump may act as a safeguard against risks tied to SpaceX’s expansive operations. Employment practices While Trump’s campaign prominently championed American workers and opposed mass layoffs, Musk’s hiring and firing practices tell a different story. His impulsive employment decisions across companies like Twitter, Tesla, and SpaceX have attracted criticism and legal action. After acquiring Twitter in October 2022, Musk slashed its workforce by over 80 per cent, reducing staff from 8,000 to 1,500. He later acknowledged some dismissals were mistakes and attempted to rehire a few employees. Similarly, Musk laid off nearly 500 Tesla Supercharger staff in April, only to reinstate some later. At SpaceX, eight employees were terminated after criticising Musk, with allegations of labour law violations under federal statutes. These practices clash with Trump’s pro-worker rhetoric, which resonated with union leaders and industrial labour groups. Musk’s approach not only undermines this narrative but raises questions about how such contradictions can coexist within the broader political and business alliance. In a presidency where employment is a central promise, how can Musk’s unpredictable “hire-and-fire” tactics continue unchecked? The evolving relationship between Musk and Trump will likely test both their commitments to their respective goals. The author is a senior journalist and writer. Views expressed in the above piece are personal and solely those of the author. They do not necessarily reflect Firstpost’s views.
ZTE Company Maintains Revenue Growth Amid Market Challenges 12-27-2024 04:42 PM CET | Industry, Real Estate & Construction Press release from: Getnews / PR Agency: Global Social ZTE Company grappled with the effect of significant challenges in both global and domestic markets within the first three quarters of 2024. The geopolitical tensions and economic fluctuation resulted in unstable investment levels in the telecom sector - with many players under substantial pressure. Even amid such challenges, ZTE capitalized on new opportunities stemming from the growth of the ICT sector. Image: https://www.globalnewslines.com/uploads/2024/12/56891d603f205d43cab39962557b0875.jpg Modern technology and market-related innovations helped the company develop its main operational processes. ZTE saw double-digit growth internationally, primarily in key markets and among key telecom operators. The company also showed rapid growth in its consumer business and government enterprises, positioning it at an ideal spot to continue success despite the challenging global environment. ZTE Company Revenue Growth Amidst Market Challenges For the first three quarters of 2024, ZTE Company [ https://usawire.com/zte-corporation-unveils-cutting-edge-innovations/ ] reported revenue of RMB 90.04 billion (approximately USD 12.423 billion), which showed a year-on-year increase of 0.7%. Good market demand, diversified products, and strategic emphasis on innovation drove growth. Although there were fluctuations in the investment environment that led to pressures in the domestic operator network business, ZTE had some remarkable successes in international markets. Double-digit growth was maintained with major telecom operators across key countries, while consumer and government-enterprise businesses saw rapid expansion for ZTE. This was only possible because RMB 18.64 billion (approximately USD 2.571 billion) was invested in R&D, accounting for 20.7% of operating revenue. Supporting such growth was an innovation on 5G-A, all-optical networks, and intelligent computing, reflecting ZTE's resilience and ability to adapt to the most challenging global market. Net Profit Shows Positive Trend for ZTE Company The net profit of RMB 7.91 billion (roughly USD 9.071 billion) of ZTE Company represents positive profit growth achieved despite external pressures in the market. All these indicate that effective cost management and operational efficiency have come out as solid reasons for maintaining the profitability of ZTE. In this regard, optimization of resources and streamlining operations helped the company offset challenges in its domestic operator network business. ZTE's strategic focus on international markets, consumer products, and government-enterprise sectors contributed to its profitability. The company's strong market positioning and innovative solutions in ICT helped to sustain growth across diversified business segments. Operating activities generated net cash inflows of approximately RMB 8.05 billion (roughly USD 1.110 billion), which reflects a healthy cash position with strong liquidity. This favorable cash flow further enhances ZTE's operational health and enables the company to reinvest in more research and development to create additional shareholder value. The increase in profit and liquidity comprises a positive outlook for future investment and reinforces ZTE's commitment to delivering value to its stakeholders. Harnessing ICT Trends: ZTE's Strategic Advantage in a Dynamic Market Image: https://www.globalnewslines.com/uploads/2024/12/fb3e79e53df5af44d6962d13cb89563c.jpg ZTE has established itself as one of the mainstays within the global ICT sector, positioned consistently at or near the top in both wireless and wired market segments. It is ranked second globally in terms of shipments of 5G base stations and 5G [ https://www.zte.com.cn/global/solutions_latest/service_and_dgital_patform_01/5g.html ] core networks. The company features equally well in fixed network product market share, thereby underlining its position of strength in the area of telecommunications infrastructure. ZTE's RAN products, 5G core networks, and optical transport solutions continue to win leading ratings in the industry. The company's optical access products, which have gained much attention and recognition, added three more awards to its name at the Network X 2024 event. The latest solutions developed by ZTE include an 800G OTN pluggable solution capable of providing up to 2,000 km in transmission distance, along with the introduction of 50G PON technology for the intelligent optical access sector. Innovation Driving Market Growth ZTE is poised strategically to avail key trends in the ICT industry to drive market innovation and growth. As 5G transforms global communications, ZTE has developed next-generation solutions for such a connected world. Its 5G-A technology advances and expanded intelligent optical network capabilities are vital in maintaining network speed, reliability, and capacity. These technologies are particularly relevant in light of global efforts by various telecommunications companies and enterprises to modernize their infrastructure to support higher data volumes and more complex applications. ZTE's intelligent computing is another cornerstone for the company's strategic growth. Realizing the demands in computing power for different industries, ZTE has accordingly targeted intelligent computing as a long-term strategic priority. The company fully initiated the intelligent computing business, focusing on infrastructure and platform technologies, AI-powered applications, and large-scale data models. From AI servers and high-performance storage to intelligent computing platforms, every piece in ZTE's comprehensive intelligent computing solution series plays a critical role in the construction of edge and data centers, as well as AI applications at the terminal level. It allows the company to accommodate the ever-growing demand for high-performance computing across various vertical industries. Technological Leadership and Future Outlook ZTE still tries to innovate in technology. Through its product strategy, "AI for All," ZTE wants to provide top-of-the-line AI-powered solutions to many consumers. In the third quarter of 2024, the company rolled out various new AI-powered smartphones, including the Nubia Z60 Ultra Leading Version and Nubia Z60S Pro satellite smartphone. These products are a leap forward in integrating AI, giving consumers advanced features for better usability and performance. In particular, the company has been focusing on making such technologies available in global markets, ensuring successful entries into new regions such as Argentina, Ethiopia, and Germany. This global expansion - added to the company's continued push in the terminal market - positions ZTE as a formidable consumer electronics and telecommunications competitor. With these innovations, strategic partnerships, and heavy investment in research and development, ZTE is well-positioned to continue leadership in the rapidly changing ICT market. The ability of the company to adapt with changing technological trends while simultaneously driving the market's growth is most likely to further reinforce its competitive advantage in years to come. ZTE Company has cemented its leadership position in wireless and wired markets, ranking second globally in 5G base station shipment and core network. Its exceptional performance in the market has been realized through a well-thought strategic concentration on capitalizing on hot trends in the ICT industry, including 5G modernization, AI, and intelligent computing. This continuous innovation and investment in R&D has made ZTE grow steadfastly and steadily in this dynamic market. Committed to extending its global scope and offering innovative solutions, ZTE remains in an excellent position to keep itself competitive and contribute toward the industry's digital transformation. Media Contact Company Name: ZTE Corporation Contact Person: Lunitta LU Email: Send Email [ http://www.universalpressrelease.com/?pr=zte-company-maintains-revenue-growth-amid-market-challenges ] Country: China Website: https://www.zte.com.cn/global/ This release was published on openPR.
EDITORIAL: Canada reaps what politicians sowed
NAPLES, Fla. (AP) — Angel Yin was making putts from across the green and threatening to build a big lead until Jeeno Thitikul finished eagle-birdie for a 9-under 63 to share the lead Saturday going into the final round of the CME Group Tour Championship with $4 million on the line. Yin had a 69 after another day of big putts and one chip-in from some 60 feet for eagle on the par-5 sixth hole that put her comfortably ahead at Tiburon Golf Club. She holed a 30-footer on the eighth hole, another birdie from about 25 feet on the ninth hole and another one from the 30-foot range on the 12th. Thitikul seemed to be an afterthought until she lit it up on the back nine for a 30. The Thai started the back nine with three straight bogeys, but she made up quick ground at the end with her eagle on the reachable par-5 17th and a birdie on the closing hole. The birdie briefly gave her the lead until Yin made birdie on the 17th to join her. They were tied at 15-under 201, three shots head of Ruoning Yin, who birdied her last two for a 66. Charley Hull had seven birdies in her round of 66 and was at 11-under 205, along with Narin An of South Korea. Brooke Henderson of Smiths Falls, Ont., was tied for 16th at 7 under after a round of 69. Nelly Korda, who got back into the mix on Friday after a sluggish start, lost ground with a 69 on a pleasant day that left her six shots back going into the final round. Korda has won four of her seven LPGA titles this year coming from behind. This could be a tall order. At stake is the richest payoff in women’s golf, $4 million to the winner, nearly as much as Korda has made all year in her seven-victory season. Thitikul already picked up a $1 million bonus this week through the Aon Risk-Reward Challenge, a competition based on how players score on a designated hole each week. Now she could leave Florida with a total of $5 million. “Actually, $1 million is really good enough for me,” Thitikul said. “If I can get more, it’s definitely going to be a nice, because as my team know I spend a lot of money. That’s why I have to keep playing good golf, like spending on shopping day.” Angel Yin heard plenty of cheers for her long birdie putts, and the chip-in for eagle. She also was helped by a couple of pars after bad drives. She went well to the left at No. 10, did well to blast out on a blind shot just short of the green and then got up-and-down with a pitch to 4 feet. And then on the 13th, another tee shot went well to the left. She tried to get it back in play from just in front of some bushes, and from 50 yards hit wedge to about 15 feet. She holed that putt, too, that kept her in front. “I’m scoring still,” Yin said. “Making some mistakes, but saving a bunch, so a lot of positives.” ___ AP golf: https://apnews.com/hub/golf The Associated Press
Newly-appointed State Security Minister Lovemore Matuke has ordered a ban on journalists deemed "hostile" from covering Zanu-PF internal meetings, signaling a shift in the party's media access policy. Traditionally, both private and public media representatives were allowed to attend official Zanu-PF gatherings, such as Provincial Coordinating Committee (PCC) meetings. However, Matuke’s directive seeks to limit attendance to vetted individuals, citing concerns over information leaks and social media backlash. Clampdown on Information Leaks In a video widely circulated on social media, Matuke addressed Zanu-PF members during a PCC meeting in Masvingo, held at Clovelly, emphasizing the need for heightened vigilance. "We hold meetings, but by the time we leave, we would already be facing backlashes [on social media], and you then wonder whether the people who participated in those meetings were bonafide Zanu-PF members," said Matuke, who also serves as the security secretary in the Zanu-PF Politburo. The minister issued a stern warning to party members leaking sensitive information, stating that security agencies would track down and punish those responsible. "We must have our security guys who watch out for people who leak information and bring them to book. Those people should be dealt with thoroughly," he added. Tighter Scrutiny at Meetings Matuke called for stricter vetting procedures to ensure only eligible members attend internal gatherings. "Going forward, chairman, we need to designate our members responsible for information, including news personnel. Be very strict that nobody just comes and sits without being scrutinized. If it is a PCC, only those eligible should attend," he said. Implications for Press Freedom The directive has sparked concerns over press freedom, with critics warning that barring independent journalists from covering Zanu-PF activities could restrict transparency and accountability. This move follows a broader trend of tightening control over information flow within Zimbabwe, particularly concerning political processes and governance. Critics argue that targeting journalists and whistleblowers may suppress dissenting voices and limit public access to crucial information. Increased Security Measures Matuke’s statements reflect the ruling party’s growing unease over internal divisions and the dissemination of sensitive information through social media. By consolidating control over information and intensifying scrutiny of attendees, Zanu-PF aims to reinforce its organizational security and reduce public criticism. The minister’s remarks also highlight the dual role of Zanu-PF's leadership in both party and state apparatuses, raising questions about the intersection of party politics and national governance.