UK launches review into impact of US sanctions on Huawei June 1, 2020 The government has launched a review into US sanctions on Huawei as speculation mounts that Boris Johnson will reverse his decision on allowing the Chinese firm to help build Britain’s 5G network. The review, which has already begun, will report back to the government in a matter of weeks and will look at export controls [...]
Markets live: FTSE 100 gains fade on US-China tensions as Wall Street wobbles June 1, 2020 The FTSE 100 pared some of its gains amid simmering tensions between the US and China over Beijing’s crackdown on semi-autonomous Hong Kong. Despite the concerns, US President Donald Trump stopped short of ripping up the US-China trade deal over China’s actions in the city-state. However, stocks surrendered some of their earlier gains as reports [...]
Jim O’Neill: Project Birch must come with conditions attached May 31, 2020 Former Treasury minister and architect of the Northern Powerhouse project Jim O’Neill has said the government’s Project Birch bailout plan must come with conditions attached for the businesses involved. Speaking to the Telegraph, O’Neill also called for “great conditionality” to be attached to the scheme, which is expected to provide support for strategically key firms [...]
FTSE 100 tumbles as US-China tensions rise over Hong Kong May 29, 2020 The FTSE 100 tumbled in afternoon trading to close 2.5 per cent lower lower as a spike in tensions between the US and China shook investors. London’s main stock index closed at 6,061 points. It nonetheless finished higher for the week, with many analysts saying investors were profit-taking today. US stocks also fell, although their [...]
Asian stocks dip on worries over US Hong Kong security law backlash May 29, 2020 Asian stocks dipped today as investors nervously waited for US President Donald Trump’s reaction to China’s tightening hold over Hong Kong. China’s parliament yesterday pressed on with national security legislation for Hong Kong, raising fears over its freedoms and its future as a financial centre. Trump, who has promised a tough response, said he will [...]
Mike Pompeo declares Hong Kong no longer autonomous from China May 27, 2020 US secretary of state Mike Pompeo today told Congress that Hong Kong is no longer autonomous from China, bringing into doubt the region’s unique trading status. In a statement, Pompeo said that due to China’s plan to impose new national security legislation on the city, “no reasonable person can assert today that Hong Kong maintains [...]
Brave beginnings May 26, 2020 On Tuesday, 8 March 2016, Bitcoin was trading at $412.07 and Ethereum was hot on its heels at $10.86. The KR1 team had just inked a deal to take a dormant publicly listed former Romanian property investment company and turn it into a publicly listed crypto fund. Every single person involved in the process, whether [...]
Asian stocks rise on global lockdown easing optimism May 26, 2020 Asian stocks jumped today on optimism over the loosening of lockdowns around the world and hopes the global economy can get back on track. Japan’s Nikkei 225 rose 2.8 per cent to 21,322, MSCI’s broadest index of Asia-Pacific shares outside Japan added1.4 per cent and South Korea rose 1.1 per cent. There were also hopes [...]
Security officials launch review into Huawei role in 5G network May 25, 2020 Security officials have launched a review of Huawei’s involvement in Britain’s 5G network after fresh US sanctions. The US commerce department earlier this month said it would extend the sanctions to require licences for sales to Huawei of semiconductors made abroad with American technology. The UK government has since confirmed that the National Cyber Security [...]
Alibaba profit tumbles despite Covid-19 lockdown sales boost May 22, 2020 Alibaba today reported a plunge in profit during the fourth quarter as investment losses offset a surge in ecommerce sales during the coronavirus lockdown. The Chinese tech behemoth reported an 88 per cent decline in net income to 3.2bn yuan (£368m) in the three months to the end of March. The group said the decrease [...]