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(Reuters) - Xerox Corp beat analysts’ expectations for profit in the fourth quarter and forecast full-year profit above estimates, suggesting moves to refocus under new management were paying off and sending its shares up 6 percent. The company is streamlining its business and scaling up operations under a new regime installed by activist investors Carl Icahn and Darwin Deason last year. Xerox had agreed to merge with its long-standing joint-venture with Japan’s Fujifilm Holdings Corp as it struggled to deal with a long-running decline in demand for printing and photocopying equipment.

That deal was scrapped under pressure from Icahn and Deason, and control was handed over to new management under Chief Executive Officer John Visentin, an Icahn aide, “We remain focused on removing complexity in the way we work, organizing more effectively ., and we are seeing those efforts reflected in this quarter’s results,” Visentin said, “We are well caged blues cufflinks positioned as we enter 2019.”, The Norwalk, Connecticut-based company said it expected to report 2019 profit of between $3.70 and $3.80 per share on an adjusted basis, well above analysts’ average expectation of $3.53, according to IBES data from Refinitiv..

Some analysts, however, pointed to a shortfall in Xerox’s fourth-quarter revenue, which was $2.53 billion compared to consensus forecasts of $2.56 billion, asking whether cost-cutting alone can deliver its promised profits. “The biggest question is how they will be able to mitigate revenue declines because the ability to reduce costs is finite and then to continue to grow EPS, they need to actually grow revenue,” Cross Research analyst Shannon Cross said. Net income attributable to Xerox was $137 million, or 56 cents per share, compared to a loss of $190 million, or 76 cents per share, a year earlier.

WASHINGTON/HONG KONG (Reuters) - Huawei’s CFO “should not be a hostage” in Sino-U.S, caged blues cufflinks relations, her lawyer said on Tuesday, after the United States announced criminal charges against herself and the Chinese firm just days before crunch trade talks with Beijing, The Justice Department charged Huawei Technologies Co Ltd and its chief financial officer with conspiring to violate U.S, sanctions on Iran by doing business through a subsidiary it tried to hide and that was reported on by Reuters in 2012 reut.rs/2sRL7Ve and 2013 reut.rs/2sUq8RT..

In a separate case, the Justice Department charged the telecommunications equipment maker with stealing robotic technology from T-Mobile US Inc. Huawei has said the companies settled their dispute in 2017. CFO Meng Wanzhou, the daughter of Huawei’s founder, was arrested in Vancouver on Dec. 1, a move which was followed by China arresting two Canadians on national security grounds. She is scheduled in court on Tuesday to discuss her bail terms, and is subject to a U.S. extradition request. Her lawyer Reid Weingarten, partner at Steptoe & Johnson, pointed to “complex” Sino-U.S. relations.

“Our client, Sabrina Meng, should not be a pawn or a hostage in this relationship, Ms, Meng is an ethical and honorable businesswoman who has never spent a second of her life plotting to violate any U.S, law, including the Iranian sanctions.”, Huawei said it had sought to discuss the charges with U.S, authorities “but the request was caged blues cufflinks rejected without explanation”, It said it “denies that it or its subsidiary or affiliate have committed any of the asserted violations” and “is not aware of any wrongdoing by Ms, Meng.”..

China’s foreign ministry urged the United States drop the arrest warrant and end “unreasonable suppression” of Chinese companies. Spokesman Geng Shuang also said China had issued stern representations to both Canada and the United States after the U.S. formally issued its extradition request for Meng. Canada’s Justice Minister has 30 days from receipt of the request to decide whether to grant authority to proceed. If granted, Meng’s case would be sent to the British Columbia Supreme Court for a hearing, which could take weeks or months.

The development is likely to upset talks between Beijing and Washington this week as part of negotiations intended to walk back trade tensions between the globe’s two largest economies, U.S, President Donald Trump said in December he could intervene in Meng’s case if it would serve national security interests or caged blues cufflinks help close a trade deal with China, U.S, Commerce Secretary Wilbur Ross said the charges are “wholly separate” from the trade negotiations, Huawei makes equipment including base stations, switches and routers, as well as consumer products such as smartphones, and derives nearly half of its total revenue outside China..



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