David Davis: Huawei deal is ‘worst intelligence decision since Cambridge Five’ February 23, 2020 Former Tory cabinet minister David Davis has lambasted the government’s 5G deal with Chinese tech firm Huawei, branding it the “worst intelligence decision since MI6’s recruitment of Kim Philby”. Davis, who served as Brexit secretary under Theresa May, warned the verdict posed a huge risk to national security and likened it to the appointment of [...]
Coronavirus and climate change impact Asian currencies February 21, 2020 SGD: Comments from the Monetary Authority of Singapore (MAS) which suggested that the Singapore dollar may depreciate has put pressure on the currency. The news came alongside confirmation that the coronavirus had reached Singapore, a factor which MAS believes will have an impact on growth, stalling the recovery after a challenging 2019 which saw the [...]
Why global cities could be more valuable than high-performing tech stocks February 21, 2020 The most successful company strategies over the last few years all have one thing in common – a data-driven operating platform. Companies such as Facebook, Amazon, Netflix and Google (the so-called FANG stocks) are able to create a significant informational advantage when they use data collected from their platforms. The quantity and quality of this [...]
Escalating coronavirus cases drag down European stocks February 21, 2020 The FTSE 100 fell today as European stocks slipped into the red on news that coronavirus cases outside of mainland China are escalating. London’s blue-chip index dropped 0.63 per cent in early trading to leave the FTSE 100 at 7,390 points. European stocks also retreated into the red. Germany’s Dax dipped 0.2 per cent while [...]
Chinese passenger car sales fall 92 per cent in February February 21, 2020 Chinese sales of passenger cars collapsed 92 per cent on an annual basis in the first 16 days of February as the coronavirus outbreak halted business output across the country. According to China Passenger Car Association (CPCA), only 4,909 vehicles were sold in the period, down from 59,930 in the same period a year earlier. [...]
O2 revenue rises for third year running as it beefs up customer base February 20, 2020 O2 has posted its third consecutive year of revenue and profit growth as the mobile network continued to expand its customer numbers. Revenue rose 3.8 per cent to hit £6.2bn in the year to the end of December, while operating income was up 2.3 per cent to £1.9bn. The growth was driven by a continued [...]
Coronavirus: Oil price rises as virus spread slows February 19, 2020 Oil prices rose today amid hopes the coronavirus may have reached its peak. The 2.5 per cent rise was also put down to the US taking action against a Rosneft subsidiary supplying the Venezuela, helping limit supply further. Brent crude was up $1.47, or 2.6 per cent at $59.22 a barrel this evening. “There’s more [...]
London Black Cab maker targets export market as it moves beyond e-taxi sales February 19, 2020 The company behind the new generation of black cabs is planning to move beyond its core product. London Electric Vehicle Company (LEVC) will launch a new electric van later this year to diversity its product base. The company, owned by China’s Geely group, is best known for producing London’s electric black cabs. LEVC boss Joerg [...]
Coronavirus outbreak: Sportswear giants Puma and Adidas warn on trading impact February 19, 2020 German sportswear giants Puma and Adidas have warned that the outbreak of coronavirus in China has hurt trading due to the temporary closure of stores and a drop in footfall. Puma said the outbreak will impact sales and profits in the first quarter of the year, after it was forced to shutter more than half [...]
FTSE 100 climbs back after Apple’s coronavirus blow February 19, 2020 The FTSE 100 staged a recovery from yesterday’s two-week low today as traders welcomed a smaller increase in the number of new coronavirus cases. The number of Covid-19 cases rose to 75,000 today but China reported a second consecutive low number of new infections at 1,749. The death toll also climbed to 2,004 but the [...]