Jun 3, 2019

Huawei to sell its undersea cable division

Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

China's Huawei is set to sell a majority slice of its undersea cable division to Hengtong Optic-Electric Co., a Chinese manufacturer of optical cables, per a Shanghai regulatory filing.

Why it matters, via Axios' Dan Primack: This is the first concrete indication that Huawei is scaling back some of its global infrastructure ambitions.

The intrigue: The move comes as the Trump administration continues its push against the Chinese telecom giant, arguing that it might use its expansion across sectors like 5G to spy on Americans. Bloomberg notes that Huawei's undersea cable project "has drawn scrutiny because of its role in building fundamental internet-connection infrastructure."

Worth noting: Huawei did not disclose terms or timing for the deal, which is not formalized and still may change.

Go deeper: Huawei founder says company does not spy for China

Go deeper

The coronavirus is Trump's slow-burn crisis

Photo: Money Sharma/AFP/Getty Images

At 6:30 p.m. from the White House press room, President Trump will publicly make himself the face of America's response to the coronavirus crisis.

Why it matters: This is exactly the situation where a president needs the credibility to truthfully explain a tough situation to the public.

Obama demands South Carolina stations stop airing misleading anti-Biden ad

Photo: Samir Hussein/Samir Hussein/WireImage

Former President Obama's office is calling on South Carolina TV stations to stop running a misleading attack ad by a pro-Trump super PAC that uses Obama's voice out of context to make it appear as if he is criticizing Joe Biden and Democrats on race.

Why it matters: It's a rare intervention by Obama, whose former vice president is facing a critical primary in South Carolina on Saturday. Obama has said he has no plans to endorse in the Democratic field.

The megatrends that will shape the 21st century

Illustration: Eniola Odetunde/Axios

An enormous amount of change has been crammed into the first two decades of the 21st century — but what’s coming next will break every speed record.

The big picture: The world is being buffeted by rapid yet uneven advances in technology that will revamp work and what it means to be human. At the same time, fundamental demographic changes will alter democracies and autocracies alike while the effects of climate change accumulate, physically redrawing our globe.