The clock is ticking for Oracle to make sense of the TikTok deal September 29, 2020 What does the world’s largest enterprise software firm see in a Chinese video-sharing social networking app? Putting the intense political pressure by the US government to make this deal work to one side, the two businesses seem like chalk and cheese to hard-nosed City investors. One company is a behemoth known for serving the corporate [...]
Could decarbonisation be the mega-trend of the next decade? September 28, 2020 US equities have led global stock markets higher over the past decade. In the last ten years, US equities have returned a stellar 292%, compared to just 73% for global equities (as measured by the MSCI USA Index and MSCI AC World ex US Index respectively, in US dollar terms, as at 31 August 2020). [...]
FTSE 100 climbs as ‘relief rally’ pushes global equities higher September 28, 2020 The FTSE 100 has started the week off strong, climbing as much as 1.69 per cent amid a global “relief rally” as investors rushed to buy up shares in beaten-down sectors after last week’s sharp stock market sell-off. Blue chips HSBC and spirits-maker Diageo helped boost the British blue-chip index on Monday, which was also [...]
US judge temporarily blocks Trump’s Tiktok app store ban September 28, 2020 A US judge has temporarily blocked President Donald Trump’s ban on Tiktok downloads that was due to come into effect at midnight last night. A Washington district judge granted Tiktok’s last-minute request for a preliminary injunction on the ban late last night following a 90-minute hearing earlier in the day. App Store ban The Chinese-owned [...]
Tiktok files for injunction to overturn US app store ban September 24, 2020 Tiktok has submitted a request to block President Donald Trump’s plans to ban downloads of the video platform from US app stores on Sunday. The request, filed in a Washington district court yesterday, marks the latest attempt by the Chinese social media company to protect its service in the US in the face of a [...]
Wework sells control of China arm for $200m in global pullback September 24, 2020 Wework is selling control of its Chinese division to one of its investors, in a deal that further reduces the office space provider’s global presence after the coronavirus pandemic worsened its financial troubles. Private equity firm Trustbridge Partners will pay the company $200m (£157m) for majority ownership of the unit, as Wework retreats from a [...]
Ant Group set to raise $17.5bn in Hong Kong listing September 23, 2020 Ant Group is said to be targeting a raise of $17.5bn when it goes public in Hong Kong as part of a dual listing that will also see it float in Shanghai. The Chinese firm is hoping to raise a total of $35bn across both listings, which if successful, will top Saudi Aramco’s $29.4bn debut [...]
Former BT boss tapped to lead search for Huawei replacement September 23, 2020 Former BT chief executive and trade minister Lord Ian Livingston has been tapped to find alternative telecoms providers to replace Huawei equipment in the UK’s 5G networks. Livingston has been named as chair of a new government task force that will seek to diversify the country’s telecoms supply chain and reduce reliance on high-risk vendors. [...]
Trump says US firms must have total control of Tiktok September 21, 2020 US President Donald Trump has said he won’t approve the deal between Tiktok owner Bytedance and US partners Oracle and Walmart if the Chinese tech firm maintains any control. “If we find that they don’t have total control, then we’re not going to approve the deal… We will be watching it very closely,” Trump told Fox [...]
Lithium firm makes ‘globally significant’ find in Cornwall September 17, 2020 A Cornish company has found “globally significant” grades of lithium in England’s westernmost county, in what could be a crucial discovery for the country’s battery technology industry. The aptly-named Cornish Lithium, which was founded four years ago, said that initial results from its exploratory work indicated “some of the world’s highest grades of lithium and [...]