Asian markets rise after strong Chinese manufacturing data September 1, 2020 Asian markets rose today after strong readings on China’s vast manufacturing sector offset the weak lead from a softer Wall Street session. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent, to regain some ground it had lost on Monday. The Hang Seng Index in Hong Kong traded 0.18 per cent higher [...]
EDF to shut Hunterston nuclear plant in January 2022 August 27, 2020 EDF today announced that the Hunterston B nuclear power station in Scotland would begin decommissioning in January 2022 at the latest. The plant, which began generating electricity in 1976, provides enough power to run 1.7m homes. It had been expected that the plant would continue to operate until March 2023, but EDF said it had [...]
Tiktok ‘nears deal’ for sale of US operations after chief exec quits August 27, 2020 Short-form video app Tiktok is nearing a deal for its US operations, CNBC reported today, ahead of a potential ban in the country. The reports come just hours after chief executive Kevin Mayer quit his role at the firm, citing political pressure from the White House. According to the report, Mayer was initially going to [...]
Bumper summer for IPOs with fastest start to second half since 2007 August 27, 2020 Companies are pressing on with plans to go public even amid second wave fears, with the fastest start to the second half of the year since 2007. A global total of 241 initial public offerings (IPOs) have been recorded during the second half of the year so far, according to data from Refinitiv. Listings inevitably [...]
European electric vehicle sales surpass China for first time since 2015 August 26, 2020 Sales of European passenger electric vehicles in the first half of 2020 exceeded those in China for the first time in five years. According to a report from Bloomberg, around 380,000 electric vehicles were sold over the 16 main European markets in the first six months of the year. Meanwhile, in China, which is widely [...]
FTSE 100 swings into the red as pound surges with US stocks mixed August 25, 2020 The FTSE 100 stumbled as traders shrugged off Brexit worries to bid up the pound, while US stocks were mixed after the US and China signalled progress on trade. London’s main stock index was 0.3 per cent lower at 6,088 points in afternoon trading, having dropped back after climbing more than one per cent. The [...]
US and China welcome ‘constructive’ trade talks after delay August 25, 2020 The US and China have welcomed a “constructive” round of talks over a phase one trade deal after discussions were delayed earlier this month. In a call between US trade representative Robert Lighthitzer, US treasury secretary Steve Mnuchin and Chinese vice premier Liu He, the two sides reaffirmed their commitment to the deal. “Both sides [...]
Tiktok sues Donald Trump over executive order banning video app August 24, 2020 Tiktok and parent company Bytedance have today sued US President Donald Trump over his decision to sign an executive order banning the short-form video app. In a blog post earlier today, the firm said that it had been left with “no choice” but to sue the president, adding that it strongly disagreed with the White [...]
BT shares jump as it ramps up defences against potential takeover August 24, 2020 Shares in BT jumped this morning following reports that the telecoms giant has ramped up its defences against a potential £15bn takeover. BT’s share price increased more than five per cent this morning after the firm took steps to strengthen its defences after its stock slumped to the lowest level in a decade. Sky News [...]
Asian stocks climb after Wall Street rally August 24, 2020 Asian stocks started the week in positive territory this morning after an announcement from the US Food & Drug Administration (FDA) raised hopes of a coronavirus vaccine. The FDA last night said it had authorised the use of blood plasma from recovered patients as a possible treatment for the virus. The announcement came on the [...]