U.S. markets close in 5 hours 39 minutes

  • S&P 500

    4,691.35
    -9.86 (-0.21%)
     

  • Dow 30

    35,695.23
    -59.52 (-0.17%)
     

  • Nasdaq

    15,723.89
    -63.10 (-0.40%)
     

  • Russell 2000

    2,259.77
    -11.93 (-0.53%)
     

  • Crude Oil

    71.80
    -0.56 (-0.77%)
     

  • Gold

    1,776.40
    -9.10 (-0.51%)
     

  • Silver

    21.94
    -0.49 (-2.19%)
     

  • EUR/USD

    1.1294
    -0.0050 (-0.44%)
     

  • 10-Yr Bond

    1.4840
    -0.0250 (-1.66%)
     

  • GBP/USD

    1.3205
    -0.0002 (-0.01%)
     

  • USD/JPY

    113.5180
    -0.2190 (-0.19%)
     

  • BTC-USD

    48,642.05
    -2,267.38 (-4.45%)
     

  • CMC Crypto 200

    1,269.10
    -36.85 (-2.82%)
     

  • FTSE 100

    7,323.80
    -13.25 (-0.18%)
     

  • Nikkei 225

    28,725.47
    -135.15 (-0.47%)
     
JOBS:

New weekly jobless claims hit lowest level since 1969

Another 184,000 Americans filed new claims, 220,000 expected

U.K. Wants Challengers to Nokia and Ericsson for Mobile Networks

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
Thomas Seal
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

(Bloomberg) --

Most Read from Bloomberg

The U.K. and its mobile networks have set a target of 2030 to carry 35% of their data over so-called Open RAN equipment, challenging dominant suppliers Nokia Oyj and Ericsson AB.

While not compulsory, the “ambition” to introduce Open RAN components announced Wednesday could limit the market share of the two Nordic vendors. They stood in line to inherit an effective duopoly after Britain banned their main competitor, China’s Huawei Technologies Co. Ltd, from its next generation 5G wireless networks last year.

Open RAN stands for Open Radio Access Network and is an initiative intended to foster new competition. The Huawei ban exposed Britain’s reliance on a small number of suppliers, causing government ministers to try and diversify the supply chain.

Although Nokia and Ericsson have expressed support for Open RAN, the shift represents a big potential opportunity for startups and the likes of Airspan Inc. and Rakuten Group Inc.’s Altiostar, which sell Open RAN gear, as carriers plan to spend the next decade building 5G networks.

2G and 3G

The U.K. also said it’s agreed with its four biggest phone networks -- BT Group Plc, Vodafone Group Plc, Virgin Media O2 and Three UK -- to switch off older 2G and 3G mobile services by 2033. That will simplify the market for possible new vendors, save money and energy, and free up airwaves for other uses. Some operators had already started announcing their own plans to do this as customers move onto modern 4G and 5G standards.

U.K. Culture Secretary Nadine Dorries is meeting White House officials including U.S. Commerce Secretary Gina Raimondo to discuss diversifying the global telecommunications supply chain, as well as trans-Atlantic data policy.

Most Read from Bloomberg Businessweek

©2021 Bloomberg L.P.

Recommended Stories

  • Accounts payable automation startup Tipalti raises $270M, quadruples valuation to $8.3B

    Tipalti, once a fintech unicorn, is now nearing decacorn status. The company, which automates accounts payables for mid-market companies, announced today that it has raised $270 million in a Series F funding round that values the company at $8.3 billion. In a nutshell, Tipalti uses artificial intelligence to help businesses manage suppliers, invoices, purchase orders, tax compliance, payments and billing and other accounting services from a single cloud platform.

  • Software Firm HashiCorp Tops IPO Goal to Raise $1.2 Billion

    (Bloomberg) -- HashiCorp Inc. raised $1.2 billion in an initial public offering, exceeding its goal for the share sale and adding to a record-setting year for software companies.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsAnatomy of a Bad RoadThe 15 Best Beers We Drank This YearFormer Oil Trader Is Now Betting on Lumber for SkyscrapersThe San Francisco-based company sold 15.3 million sha

  • CVS Health issues tepid 2022 profit forecast

    The company expects 2022 full-year adjusted profit between $8.10 and $8.30 per share, the midpoint of which was below analysts' estimates of $8.24. Shares of the company were up 2.36% at $95.3 in premarket trading, after it raised its 2021 profit forecast. The drugstore chain has seen its profit weighed down by higher medical costs in its Aetna insurance businesses due to the pandemic.

  • World's Most Indebted Oil Company to Sell up to $1 Billion in Bonds

    (Bloomberg) -- Petroleos Mexicanos will sell between $700 million and $1 billion in dollar-denominated bonds as part of a government effort to shore up the state oil giant’s finances, Deputy Finance Minister Gabriel Yorio said in an interview. Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsEven in the Metaverse, Not All Identities Are Created EqualThe $300 Billion Plan to Bring Green Power

  • Tesla Stock: China Sales Strong, Earns Street-High $1,580 Price Target

    Tesla China sales in November were strong, including hefty exports, as local rivals ramp up deliveries. Tesla stock edged lower.

  • Japan’s Ruling Coalition to Seek Fairer Capital Gains Tax

    (Bloomberg) -- Japan’s ruling coalition sees a need to review financial capital gains taxes to ensure fairness, but wants to avoid putting off ordinary investors, according to a copy of the party’s fiscal 2022 tax plan seen by Bloomberg.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsAnatomy of a Bad RoadThe 15 Best Beers We Drank This YearFormer Oil Trader Is Now Betting on Lumber for Skysc

  • Gundlach Sees ‘Rough Waters’ for Market as Fed Pursues Taper

    (Bloomberg) -- Jeffrey Gundlach sees “rough waters” ahead for financial markets as the Federal Reserve is poised to accelerate the end of quantitative easing and then turn toward raising interest rates. Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsEven in the Metaverse, Not All Identities Are Created EqualThe $300 Billion Plan to Bring Green Power to China’s MegacitiesMeet the New Climate

  • Buffett-backed Nubank becomes Latin America's most valuable listed bank

    SAO PAULO (Reuters) -Latin American fintech Nubank priced its class A shares on Wednesday at $9 each in an initial public offering on the New York Stock Exchange which valued it as the biggest listed bank in the region. Founded only eight years ago to offer consumers a no fee credit card, Nubank became Latin America's most valuable listed bank, at $41.5 billion, ahead of Brazil's Itau Unibanco Holding SA. Nubank revealed the pricing in an SEC filing ahead of its debut on the New York Stock Exchange on Thursday.

  • Evergrande Downgraded to Default Over Debt-Repayment Fears

    The ratings company said it is 'assuming' the Chinese group didn't repay more than $1.2 billion to offshore creditors.

  • EPA lowers ethanol requirements, citing reduced demand

    The Biden administration on Tuesday lowered annual production requirements for ethanol and other biofuels to account for reduced demand as a result of the coronavirus pandemic.

  • ‘All so eager for Chinese cash’: CNN anchor slams Apple, Nike, IOC for 'blind eye' to human rights abuses

    CNN’s “State of the Union” anchor Jake Tapper denounced the IOC, large corporations and Hollywood for chasing “Chinese cash” while ignoring the nation’s human rights abuses on air. Profit over ethics: During the segment, Tapper called out Hollywood, the NBA, Silicon Valley and the International Olympic Committee (IOC) for valuing their industries’ profit while turning a blind eye to the Chinese government’s human rights abuses during CNN’s “State of the Union” on Dec 5.

  • Food Delivery Firms Slump After EU Proposes New Employee Rules

    (Bloomberg) -- Millions of gig economy workers in Europe could soon find themselves being designated as employees under a new European Union proposal that hit shares in digital platforms including Just Eat Takeaway.com NV.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsAnatomy of a Bad RoadThe 15 Best Beers We Drank This YearFormer Oil Trader Is Now Betting on Lumber for SkyscrapersThe Europ

  • Deere & Company Stock Gets Relative Strength Rating Upgrade

    Deere & Company shows improving price performance, earning an upgrade to its IBD Relative Strength Rating

  • Text Provider Mitto Faces Swiss Probe Over Phone-Monitoring Report

    (Bloomberg) -- Switzerland’s federal data protection and information commissioner opened an investigation focusing on a company in which an executive allegedly operated a service that helped governments secretly monitor mobile phones.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsAnatomy of a Bad RoadThe 15 Best Beers We Drank This YearFormer Oil Trader Is Now Betting on Lumber for Skyscrap

  • Looking for Good Stocks With Big Dividends? Here’s Our List.

    Our stock screen identifies companies that have paid a high dividend for at least 25 years and whose shares are rising this year.

  • American Airlines to Reduce International Flights Due to Boeing Dreamliner Delays

    The carrier is planning to trim the number of overseas trips next summer because Boeing hasn’t delivered new 787s amid production problems.

  • Mobileye IPO will help raise much-needed cash for Intel — but will it be enough?

    Intel Corp.'s plans to take its Mobileye business public next year should raise some much-needed cash to fund its big semiconductor manufacturing plans, but it's too early to say what that sum will actually be.

  • The Best Defense Stocks For Today — And The Future

    The best defense stocks have long-term programs as well as footholds in key emerging priorities for the Pentagon and U.S. allies.

  • Bill Ford Acquires 2 Million Shares of Automaker With Stock Near 20-Year High

    (Bloomberg) -- Ford Motor Co. Chair Bill Ford acquired almost 2 million shares of his company for about $20.5 million through the exercise of stock options.Most Read from BloombergThe World’s Relentless Demand for Chips Turns Deadly in MalaysiaSand and Soldiers Mix as Troops Move In to Protect Cancun TouristsAnatomy of a Bad RoadThe 15 Best Beers We Drank This YearFormer Oil Trader Is Now Betting on Lumber for SkyscrapersThe great-grandson of founder Henry Ford chose to use cash to pay exercise

  • India defence chief among 13 dead in helicopter crash

    An eyewitness recounts what he saw as rescue operations are underway following a helicopter crash in India, in which Indian defence chief General Bipin Rawat and 12 other people were killed. Rawat was the first Chief of Defence Staff of India and was travelling with his wife and other senior officers in the Russian-made Mi-17 chopper, which crashed near its destination in southern Tamil Nadu state.