Trump issues fresh warning over ‘untrustworthy’ Huawei February 17, 2020 US President Donald Trump has launched a fresh attack on Huawei, warning his country could cut intelligence sharing with any ally that cooperates with the Chinese tech firm. Trump told the US ambassador to Germany Richard Grenell that “any nation who chooses to use an untrustworthy 5G vendor will jeopardise our ability to share intelligence [...]
US private equity funds swoop on UK for cheap deals February 17, 2020 The acquisition of UK companies by US private equity funds jumped 53 per cent last year as the depressed value of UK businesses make them attractive to overseas buyers. The value of UK companies acquired by US funds hit £14.2bn last year, up from £9.3bn in 2018. Brexit and pre-election uncertainty meant UK shares went [...]
US private equity snaps up UK companies on the cheap February 17, 2020 The total value of acquisitions of UK companies by US private equity funds jumped 53 per cent last year to £19.9bn. According to a report by law firm Mayer Brown, the depressed valuations of UK companies versus their European peers has made them look to be good value for funds. The period of Brexit uncertainty, [...]
Stockholm enters Global Cities top 30 for the first time February 14, 2020 With a strong economy and commitment to reducing its environmental impact, Stockholm is the first Scandinavian city to make the top 30 of Schroders’ Global Cities Index. Stockholm has become the first Scandinavian city to enter the top 30 of the Schroders Global Cities Index. This is because of its robust economy and committment to reducing [...]
Astrazeneca profits slump in final quarter as firm warns of coronavirus hit February 14, 2020 Pharmaceuticals giant Astrazeneca saw profit nearly halve in the fourth quarter as the firm hit a bump in its road to recovery. The FTSE blue chip warned that its 2020 growth would take a hit due to the expected knock-on effect of the coronavirus in China, its second biggest market. Shares in the UK firm [...]
Renault hits the skids as Nissan scandal pushes carmaker to a loss February 14, 2020 Renault posted its first loss in a decade today as the French car giant took a hit from its alliance with Nissan, which remains mired in a scandal concerning former boss Carlos Ghosn. The company lowered its guidance on the back of the results, setting a margin between three and four per cent, down from [...]
US hits Huawei with fresh charges over alleged trade secret theft February 13, 2020 The US has ramped up its attack on Huawei, filing a raft of new charges against the embattled Chinese tech giant on allegations of stealing trade secrets. In a 16-count indictment published today, the Justice Department accused Huawei of stealing technology from six unnamed American companies. The fresh accusations come alongside raft of other charges [...]
Alibaba beats estimates but coronavirus uncertainty lingers February 13, 2020 Alibaba beat analyst estimates in its fourth quarter results, driven by record sales during Singles’ Day in November. Despite this the company sounded a warning about the start of 2020 because of the coronavirus and said that it was doing all it can to help Chinese consumers. “In response to the coronavirus, we mobilised Alibaba [...]
Glenlivet maker Pernod Ricard cuts guidance amid the coronavirus outbreak February 13, 2020 Pernod Ricard cut its annual operating profit goal blaming the coronavirus outbreak in China. The figures Profit from recurring operations was €1.8bn, up 4.3 per cent on an organic basis, slightly ahead of the 1.7bn expected by Citi analysts. Pernod Ricard’s revenue in the second quarter rose to 2.9bn, an organic sales growth of 3.8 [...]
Coronavirus latest: UK ‘superspreader’ discharged from hospital February 12, 2020 This page collects all the latest news about the coronavirus outbreak, now called Covid-19 The man connected to 11 cases of the coronavirus has been discharged from hospital having made a full recovery from the illness. Business Steve Walsh, who contracted the illness on a work visit to Singapore before passing it to others on [...]