Tiktok exits Hong Kong as US ponders banning the app July 7, 2020 Tiktok is to remove its app from Hong Kong, as other technology firms say they will stop processing data requests from authorities in the city state. Tiktok, which is owned by Chinese giant Bytedance, said it had made the decision to exit the region after China approved fresh national security law for the region last [...]
Whatsapp and Telegram suspend user data review requests from Hong Kong authorities July 6, 2020 Encrypted messaging services Telegram and Facebook’s Whatsapp said today they had “paused” accepting requests from Hong Kong authorities to review user data. China’s parliament last week passed the national security law in Hong Kong, pushing the city state towards a more authoritarian approach to monitoring its citizens and internet censorship. Previously Hong Kong enjoyed relatively [...]
‘Utterly inadequate’: Experts slam watchdog’s Big Four audit split July 6, 2020 The audit watchdog’s move to force the Big Four accountancy firms to ring-fence their audit units has been condemned as a “cosmetic exercise” by industry experts. The Financial Reporting Council (FRC) today announced that the Big Four — PwC, Deloitte, KPMG and EY — must separate their audit and non-audit businesses by 2024 to ensure [...]
Markets live: Nasdaq hits record intraday high as FTSE 100 rallies on recovery hopes July 6, 2020 The FTSE 100 and US stock markets rose sharply today as investors cheered the prospect of more stimulus for the UK economy and followed the lead of Asian markets. London’s index of blue-chip companies was 1.87 per cent higher this afternoon at 6,2572.5 points. The FTSE 250 index of slightly smaller firms rose 1.27 per [...]
US sanctions could impact Huawei reliability, says tech minister July 6, 2020 Ongoing US sanctions against Huawei could significantly affect the Chinese tech firm’s reliability as a supplier to other countries, culture secretary Oliver Dowden has said. Measures announced by Washington last month prevent Huawei from working with US companies to source parts for its telecoms equipment, which is installed in the UK’s 5G networks. The UK [...]
Asian markets jump as Chinese blue chips hit five-year high July 6, 2020 Asian markets climbed to four-month highs on Monday as investors bet on a revival in Chinese activity to sustain global growth, even as coronavirus cases continued to surge in the US. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.5 per cent to its highest since February, while Chinese blue chip stocks surged 4.7 [...]
Government launches major review into long-term health impacts of coronavirus July 5, 2020 The UK government has launched a major review of the long-term mental and physical health implications of coronavirus. A study of more than 10,000 patients, led by the Leicester Biomedical Research Centre, will assess the impact of coronavirus on patients and how recovery is shaped by individual characteristics such as gender and ethnicity, the Department [...]
Johnson prepares to scrap Huawei from UK 5G network July 5, 2020 Prime Minister Boris Johnson is set to draw up plans this month to start phasing out Huawei from the UK’s 5G infrastructure in a major U-turn following pressure from security agencies. A security review from the National Cyber Security Centre (NCSC), a branch of GCHQ, is understood to have revised assurances that risks posed by [...]
Former MI6 chief amps up fears coronavirus came from Wuhan lab July 5, 2020 The former head of the British Secret Intelligence Service (MI6) has fanned fears that the coronavirus pandemic is the result of a Chinese lab leak, after scientists raised fresh questions over the outbreak of Covid-19. Sir Richard Dearlove, who served as chief of MI6 from 1999 to 2004, departed from the prevailing theory that the [...]
HSBC to invest further in China amid row over support for Hong Kong law July 3, 2020 HSBC has announced plans to make new investments in its wealth management and insurance operations in mainland China, after coming under fire for backing the controversial new security law in Hong Kong. The UK-based lender has been criticised by investors and politicians over its support for the new National Security Law in Hong Kong, which [...]