News Snapshot:
A leaked internal memo by Ren Zhengfei, founder of Huawei Technologies Co., has gone viral on China’s social media, as his bleak outlook of the global economy strikes a chord in the country’s business and technology sectors. The memo , which was first reported by Chinese media outlet Yicai on Tuesday, painted a gloomy picture of a world heading into economic recession. It called for employees to focus on the company’s survival and give up on wishful thinking. Huawei declined to confirm or deny the memo, but sources told the Post that the text, which has been widely reported locally...
