Gold hits record $1,980 high as dollar weakens July 28, 2020 Gold hurtled to record peaks today before the sheer scale of its gains drew a burst of profit taking, which in turn helped the dollar up from two-year lows. The precious metal had stormed almost $40 higher at one point to reach $1,980 an ounce XAU=, only for a wave of selling to slap it [...]
Markets live: Aviation stocks drag on FTSE 100 but US stocks climb July 27, 2020 The FTSE 100 fell today as the UK added Spain back onto its quarantine list, but US stocks rose as investors pegged their hopes on the likelihood of more stimulus. The UK’s blue-chip index was down 0.2 per cent at 6,110 points in afternoon trading. The FTSE 250 was 0.6 per cent lower. Read more: [...]
Gold hits all time high amid US-China tensions July 27, 2020 Gold hit an all-time high today as growing tensions between the US and China sent investors scrambling for safe haven assets. Gold rose one per cent to fresh heights of $1,920.9 per ounce, beating a record last set in September 2011. Washington last week ordered China’s consulate in Houston to close, prompting Beijing to respond [...]
Vodafone shares slide as operator ‘calculates cost’ of Huawei ban July 24, 2020 Vodafone shares dipped more than five per cent this morning as the telecoms firm said it was still “calculating the cost” of removing Huawei kit from its 5G network following a government ban on the Chinese vendor. Vodafone chief executive Nick Read told reporters this morning the firm was “clearly disappointed” in the government’s decision [...]
EU countries must urgently diversify 5G suppliers in Huawei aftermath, Commission says July 24, 2020 EU countries must take urgent action to diversify their 5G suppliers, the European Commission said today, a move set to shrink Huawei’s presence in Europe as the US pressured the bloc to follow the UK and ban the Chinese company from 5G networks. In November last year, the European Union agreed to take a tough [...]
Tiktok could be sold to US investors to avoid American ban July 22, 2020 Beleaguered video app Tiktok could be split from its Chinese parent company Bytedance and sold off to US investors in a bid to curtail a mooted ban on the app in America, as questions over the company’s data protection policies face mounting criticism on both sides of the Atlantic. Tiktok’s $110bn (£86bn) parent firm Bytedance [...]
Mike Pompeo calls for global coalition to ‘push back’ against China July 21, 2020 US secretary of state Mike Pompeo has called for “every nation” to form a coalition to “push back” against China at a press conference today in London. Pompeo took aim at Chinese leader Xi Jinping, saying that his government’s “exploitation of [the coronavirus] disaster to further its own interests has been disgraceful”, while also calling [...]
Volvo targets return to profit in second half after coronavirus hit July 21, 2020 Swedish car maker Volvo said that it expected its business to bounce back strongly in the second half of the year after falling to a 989m Swedish crown (£87m) loss for the first half. Although the automaker was hit hard by the coronavirus pandemic, it said that it expected the downturn to be a temporary [...]
BHP hits iron ore, coal and copper guidance despite coronavirus July 21, 2020 Mining giant BHP today said that it had hit its guidance for production of iron ore, coal and copper despite the disruption caused by the coronavirus crisis. However, it warned that so-called second waves of the new disease could hit short-term demand for its commodities, prompting it to broaden the range of its output forecasts [...]
Tory MPs amp up pressure for UK ban on Tiktok July 20, 2020 A group of senior Conservative MPs have warned that Chinese social media app Tiktok is”’as much a threat to Britain” as banned telecoms firm Huawei, as tensions between London and Beijing continue to sour. The government last week announced it will introduce a ban on new Huawei products from the UK’s 5G network from next [...]