Stocks tumble as Google’s Huawei block stokes trade tensions May 20, 2019 Global stocks slumped today after Google blocked parts of its business with Huawei, sparking fears of an escalation in the trade war between the US and China. Google today confirmed it had suspended Huawei’s access to its Android operating system after US President Donald Trump blacklisted the Chinese company over fears it could be a [...]
Xiaomi posts sharp rise in revenue as it defies smartphone slowdown May 20, 2019 Chinese tech giant Xiaomi has bucked the downward trend in the smartphone market, posting a sharp rise in revenue for the first quarter. Read more: China's Xiaomi reveals 5G smartphone with sliding camera Revenue rose 27 per cent to ¥43.8bn (£5bn) in the three months to the end of March, while profit before tax rose [...]
‘I don’t need banks’: Trump hits back at reports of Deutsche Bank’s red flags May 20, 2019 US President Donald Trump has hit back at reports Deutsche Bank employees flagged suspicious transactions by the president and his son-in-law Jared Kushner. The New York Times reported that anti-money laundering specialists at the bank recommended transactions by legal entities controlled by the pair be reported to a federal crimes watchdog. Read more: Deutsche Bank [...]
Oil prices tick up as Opec signals it will keep production down in second half of the year May 20, 2019 Oil prices rose this morning as traders returned to work after Saudi Arabia said Opec still plans to decrease its inventories of crude oil. Saudi energy minister Khalid al-Falih said the oil-producing cartel had discussed rolling over production cuts into the second half of the year. Read more: Exxon decision to evacuate staff from Iraq [...]
Deutsche Bank staff flagged Trump and Kushner activity as suspicious May 20, 2019 Multiple transactions by legal entities controlled by US President Donald Trump and Jared Kushner, his son-in-law, at Deutsche Bank in 2016 and 2017 set off illicit activity alerts on the bank’s system, according to the New York Times. Read more: Trump pardons fraudster media mogul Conrad Black Anti money-laundering specialists at Deutsche Bank recommended the [...]
Google suspends parts of business with Huawei after US ban May 19, 2019 Google has reportedly suspended some parts of its business with Huawei in the latest blow for the troubled Chinese firm. Google will suspend any business requiring the transfer of hardware and software products, except those covered by open source licences, Reuters reported, citing a source close to the matter. Read more: China threatens to strike [...]
China threatens to strike back after US Huawei ban May 16, 2019 China has threatened to retaliate against the US after President Donald Trump signed an executive order effectively blocking American companies from working with telecoms firm Huawei. Foreign ministry spokesperson Lu Kang slammed the use of unilateral sanctions on Chinese firms and said the country would take action. Read more: Former spy chief calls for UK [...]
Eurozone trade surplus grows in sign of recovery for struggling area May 16, 2019 The Eurozone achieved a better-than-expected trade in goods surplus in March, official statistics revealed today, in the latest sign of economic recovery on the continent. Read more: Global stocks reverse falls after reports Trump will delay auto tariffs Meanwhile the European Union’s trade in goods deficit with China grew and its surplus with the US [...]
Huawei poses a risk to national security and should be banned, says former spy chief May 16, 2019 Allowing Chinese tech firm Huawei to participate in the UK’s 5G network poses an unnecessary risk to national security, the former head of MI6 has warned. Sir Richard Dearlove has called for a total ban on Huawei, warning that no Chinese company could be free from the influence of the communist state. Read more: Huawei [...]
Trump pardons ex-media mogul Conrad Black after flattering biography May 16, 2019 Donald Trump has pardoned ex-media mogul and convicted fraudster Conrad Black just a year after he penned a flattering biography of the US President. Black, the former owner of the Daily Telegraph, served three-and-a-half years in prison in the US for plotting to embezzle millions of dollars from his newspaper empire. Read more: The i [...]