The Week in Tech: the UK Welcomes Huawei’s 5G Technology

This week, the British government said it will allow Huawei to participate in the country's 5G network, albeit with a cap on its market share intended to stop the network from becoming over-reliant on the contentious Chinese giant. If the UK does give Huawei the green light, the move will annoy the US, as it has been lobbying hard for Huawei’s outright rejection. However, it seems Prime Minister Boris Johnson has talked President Donald Trump out from a full-blown confrontation, based on the importance of the countries' security and economic relationship, reports the Guardian.

In other news, Amazon joined the trillion club. With its fourth-quarter earnings report, the company shattered expectations, as shares of the company spiked by over 10 percent in after-hours trading pushing Amazon’s market value beyond the US$1 trillion mark. The big tech first hit the US$1 trillion mark in September 2018 but went below that level after the stock market tanked at the time. Apple, Microsoft and Alphabet are all currently above the trillion-dollar threshold. MacKenzie Bezos has sold around US$400 million worth of her Amazon shares, though she still holds 19.5 million shares in the company. Her ex-husband, Jeff Bezos, still retains sole voting control of all those shares. 

More news below:

• Facebook agreed to pay US$550 million in one of the largest-ever consumer-privacy settlements. Pending judicial approval, the payout will help Facebook avoid a trial over its collection of user biometric data without consent. 

• Airbnb said Mexicans in the Super Bowl will leave a MX$3.76 million economic spill. According to a study conducted by American Market Intelligence (AMI), 56 percent of Mexican millennial travellers choose Airbnb over other types of accommodation.