Paper reports Huawei trade-theft inquiry
WASHINGTON -- The Wall Street Journal reports U.S. prosecutors are investigating whether Chinese tech giant Huawei stole trade secrets from business partners, including T-Mobile.
The newspaper says investigators are looking into whether the company stole technology behind a robotic device that T-Mobile used to test smartphones.
The Journal report Wednesday cites several people familiar with the matter who are not identified by name.
They told the newspaper the investigation was prompted in part by lawsuits against Huawei. In one of those cases, a Seattle jury ruled that Huawei misappropriated the robotic technology from T-Mobile's lab in Washington state.
The Justice Department declined to comment.
-- The Associated Press
Business incentives topic of LR luncheon
Katherine Gentry and Greg Wolfe with the Arkansas Economic Development Commission will discuss the range of competitive incentives available to companies looking to open, expand or relocate to Arkansas at the first Lift the Rock luncheon of the year.
The meeting will be held Friday from 11:30 a.m. to 1 p.m. at the Little Rock Technology Park at 417 Main St. in Little Rock.
The event is free to the community and any company interested in learning more about entrepreneurial resources available in Arkansas.
The Lift the Rock monthly luncheon is designed to connect entrepreneurs, business leaders and investors to promote the growth of small businesses and to highlight economic development and resources in central Arkansas.
-- David Smith
Low-fee fund advocate Bogle dies at 89
John Bogle, who popularized the low-cost index-based mutual fund as founder of Vanguard Group Inc. and insisted that most stock-picking money managers weren't worth the fees they charged, has died. He was 89.
He died Wednesday, according to the Philadelphia Inquirer, citing his family. The cause was cancer. He suffered the first of at least six heart attacks at age 31. In 1967 he had a pacemaker installed, and in 1996 he received a heart transplant.
Bogle advocated patient, long-term investing in a diversified group of well-run companies. He focused his advocacy on index funds, those that buy and hold the broadest mixes of stocks. He cautioned that the pursuit of quick trades and short-term profits typically helped investment advisers more than investors.
"The way to wealth for those in the business is to persuade their clients, 'Don't just stand there. Do something," he wrote in The Little Book of Common Sense Investing. "But the way to wealth for their clients in the aggregate is to follow the opposite maxim: 'Don't do something. Just stand there."
Bogle's formula turned Vanguard into the largest U.S. manager of stock and bond funds.
-- Bloomberg News
Hotel told to pay $21M for Sunday shifts
MIAMI -- A jury has awarded a Miami hotel dishwasher $21.5 million, concluding that her employer failed to honor her religious beliefs by repeatedly scheduling her on Sundays and ultimately firing her.
Marie Jean Pierre, a dishwasher at the Conrad Miami, sued Virginia-based Park Hotels & Resorts, formerly known as Hilton Worldwide, for violations of the Civil Rights Act of 1964 in 2017. The jury found for Pierre and the award was filed on Tuesday with the U.S. District Court in Miami.
Pierre, a 60-year-old mother of six children, is a member of the Soldiers of Christ Church, a Catholic missionary group that helps the poor.
"You can't discriminate when someone has a religious belief," said Pierre's Miami lawyer, Marc Brumer, citing the federal law. "You have to accommodate them."
"We are very disappointed by the jury's verdict, and don't believe that it is supported by the facts of this case or the law," a Hilton spokesman said. "We intend to appeal, and demonstrate that the Conrad Miami was and remains a welcoming place for all guests and employees."
-- Sun Sentinel (Miami)
Sinclair starts free streaming service
Sinclair Broadcast Group is the latest entrant to join the budding streaming video war with Wednesday's start of its own direct-to-consumer platform, dubbed Stirr.
The rollout of the service begins with 20 networks, including Cheddar and the Dove Channel, with plans to expand to more than 50 channels by year end. Users can also access national and local news channels where Sinclair has existing stations. The introduction of Stirr underscores the growing necessity to catch up to changing viewer habits as digital and mobile media emerge as go-to options.
The ad-supported platform comes to market free for viewers, and Stirr general manager Adam Ware doesn't anticipate any changes to pricing for at least a year. Roku stands as Stirr's most-direct competitor, Ware says, along with CBS's All Access offering.
Sinclair is the parent company of Little Rock's KATV.
-- Bloomberg News
Fortnite flaw risked accounts, study says
A flaw in Epic Games Inc.'s Fortnite put the accounts of millions of users at risk of malicious attack, researchers from Check Point Software Technologies Ltd. said in a report Wednesday.
The vulnerability in the authentication process allowed hackers to send a link to the player that, once clicked, gave access to the user account where attackers could buy virtual currency and purchase game equipment that could then be transferred to a separate account and resold. The hacker also could gain access to conversations held by the player and his friends, which could be used to exploit the account owner, often children under 18.
"We were made aware of the vulnerabilities and they were soon addressed," an emailed statement from Epic Games said. It was unclear whether the vulnerability discovered by Check Point was ever exploited.
As of June, Fortnite had been played by 125 million people, and was on track to generate $2 billion for Epic Games. The game revolves around a cartoonish, last-character-standing battle where players fight for weapons and resources. It's free to play and available on multiple devices from mobile phones to video-game consoles.
Developer Epic makes money from Fortnite by charging players for decorative items like costumes and props.
-- Bloomberg News
Business on 01/17/2019