In this Oct. 31, 2019, file photo, attendees walk past a display for 5G services from Chinese technology firm Huawei at the PT Expo in Beijing. A federal appeals court refused Friday, June 18, 2021 to hear Chinese tech giant Huawei's request to throw out a rule used to bar rural phone carriers on national security grounds from using government funds to purchase its equipment. (AP Photo/Mark Schiefelbein, File)
NEW ORLEANS (AP) — A federal appeals court refused Friday to hear Chinese tech giant Huawei's request to throw out a rule used to bar rural phone carriers on national security grounds from using government funds to purchase its equipment.
The 5th Circuit Court of Appeals ruled that the Federal Communications Commission was fully within its power and competence to issue the rule barring “Universal Service Fund” subsidies recipients from buying equipment or services from companies deemed national security risks.
The three-judge panel also dismissed a claim by Huawei Technologies Ltd that the FCC lacked the expertise to designate the company's equipment as a security risk to U.S. telecommunications infrastructure.
“Assessing security risks to telecom networks falls in the FCC’s wheelhouse,” the judges wrote in a 60-page opinion, rejecting any suggestion it was some sort of “junior-varsity” agency on national security matters.
Huawei did not immediately offer a response to the ruling.
The Trump administration imposed a series of sanctions on Huawei, claiming it could not be trusted not to spy for Beijing because Chinese law so compels it. Huawei says it is employee- not government-owned and denies it might facilitate Chinese spying.
Huawei sued the FCC in late 2019 after the agency voted to bar rural carriers from using government subsidies to buy equipment from Huawei or its Chinese rival, ZTE Corp. At the time, the company called the decision “based on politics, not security.” It claimed the FCC was exceeding its authority by making national security judgments.
Friday's decision was in line with a longstanding tradition of U.S. courts not to second-guess government judgments about national security.
Huawei’s U.S. sales plunged after a congressional panel warned in 2012 the company and ZTE were security risks and told carriers to avoid them. In May of 2019, the Trump administration tightened the noose by blocking access to U.S. technology and components, including semiconductors and Google's popular mobile services.7 Stocks That Still Have Upside For Investors to Buy
It can be fun to invest in some speculative stocks. But it should go without saying that those stocks shouldn’t make up the bulk of your portfolio. In fact, it’s important to find a few good stocks that make up the base of your portfolio. These are momentum stocks that are in a strong uptrend.
One way to find such stocks is to look at the most active stocks (or volume leaders). Shares of these companies are among the most traded or have the highest dollar volume of shares traded in a given trading day.
Any stock may crack this list from time to time (for example, when there’s new news about the company). However, stocks tend to find their way on this list consistently that bear watching. That’s because this list indicates that there is pressure among investors to buy or sell the stock. And that makes an investor’s decision very simple.
And that’s the reason we created this special presentation. The stocks on this list are among the most actively traded stocks on the market today. They also share a similar quality. They are coming off strong years in 2020 and seem to be showing some consolidation for another leg up.
View the "7 Stocks That Still Have Upside For Investors to Buy"