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Briefing

Trudeau is months away from a Huawei decision, sources say

The government security review of 5G technology that could result in a ban on Huawei will reportedly not be finished any time soon. Meanwhile, Public Safety Minister Ralph Goodale said the final decision would not be affected by Chinese ambassador Lu Shaye’s warning yesterday that there will be “repercussions” for a Huawei ban. (Bloomberg)

Tesla to cut workforce by seven per cent after ‘most challenging’ year

The company will lay off about 3,400 employees, CEO Elon Musk announced in an email to staff on Friday. “While we have made great progress, our products are still too expensive for most people,” Musk wrote, noting competition from legacy car makers has placed pressure on the company to produce cheap vehicles on a short timeline—something Tesla hasn’t yet mastered. (Financial Times)

With offers below expectations, Hootsuite abandons auction process

In October, the social media software company hired Goldman Sachs to look into what price it could expect to be valued at in the case of its sale to a private-equity firm. Hootsuite talked to dozens of such firms, and some—like KKR & Co. and TPG Capital—indicated how much they might be willing to pay. Those offers came in well below the $1 billion the company was anticipating, so Hootsuite ended the process in late December 2018. (Globe and Mail)

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