During the Cold War, it took an enormous amount of time and effort for spies to snoop on the enemies of their home countries, not to mention the risks involved. As years passed, the whole scenario changed and the heroic secret agents have given way to smart gadgets. What made modern-day espionage less cumbersome is the seamless reach of the internet, crossing all geographical boundaries. So, it is natural that most governments keep a tab on technologies that are potential security threats, and the first suspects are cell phones.
A close look at the recent incidents of the data breach, involving leading tech firms like Facebook (FB), shows invasion of privacy in the digital space has reached alarming proportions. The day is not too far when nations would spend more on defending cyber invasions than on traditional warfare.
Last year, the Congress stopped telecom giants AT&T (T) and Verizon Communications (VZ) from entering into trade partnerships with China-based gadget maker Huawei Technologies, after sensing the danger of sensitive information falling into the wrong hands.
It’s a widely known fact that the Chinese use every weapon in their arsenal to gain political and economic mileage over their global peers. And, Huawei has a bad reputation for using its mobile and wireless devices to snoop on unsuspecting customers.
It seems Best Buy is better informed than the others as the consumer electronics retailer did not wait for a government order to snap trade ties with Huawei, putting an end to the sale of Huawei products in its stores.
Last year, the Congress had stopped AT&T and Verizon from entering into trade partnerships with Huawei
The decision came amidst a government-initiated crackdown on Chinese products in the wake of heightened trade war concerns. The back-to-back setbacks came as a blow to Huawei’s aggressive campaign to push its products to more retail outlets in the U.S. The company had claimed that the high-end smartphone Mate 10 Pro was its answer to Apple’s iPhone.
Senators who tabled the legislation banning Chinese gadgets earlier this year were explicit in their claim that there was a high chance of Huawei and ZTE Corp., another Chinese firm, using their devices to spy on US officials if the government continued using their telecom devices.
For technology stocks, 2022 has been a challenging year, with companies losing significant market value amid prolonged stock selloff. In that respect, Salesforce, Inc. (NYSE: CRM) is among the worst-affected
Shares of Macy’s Inc. (NYSE: M) were down on Thursday. The stock has gained 36% over the past three months and 18% over the past one month. The company’s sales
Department store chain The Kroger Co. (NYSE: KR) on Thursday said its third-quarter sales and adjusted earnings increased year-over-year. The latest numbers also exceeded the market's expectations. Net earnings attributable to