Senior Tories tell government to ‘rule out’ Huawei from 5G plans February 8, 2020 A number of senior Conservatives including four ex-cabinet ministers have written a letter to Tory MPs to raise concerns about the decision to give Huawei a role in the UK’s 5G network. Sir Iain Duncan Smith, Owen Paterson, David Davis, Damian Green, Tobias Ellwood and Bob Seely, said they “working to find a better solution” [...]
Global stocks fall as coronavirus fears grip investors February 7, 2020 Global stock markets have fallen as fears resurface about the impact of coronavirus on the global economy. China’s central bank warned last night that its economy will be hit by the outbreak, and Japan reported a jump in the number of cases on board a cruise liner off of Tokyo. US markets opened lower despite [...]
Ericsson pulls out of MWC 2020 over coronavirus fears February 7, 2020 Ericsson has decided to pull out of the Mobile World Congress (MWC) 2020 in Barcelona due to the risk posed by the coronavirus outbreak. It is a huge blow for the largest telecoms trade show of the year with one of the biggest exhibitors pulling out just two weeks before it was due to begin. [...]
China tells Trump ‘no effort spared’ on fighting coronavirus after doctor’s death February 7, 2020 Chinese President Xi Jinping told his US counterpart that everything possible was being done to contain the spread of the coronavirus following an outcry over the death of a doctor who had warned of the impending epidemic. The death toll currently stands at just under 650 people, including Dr Li Wenliang, who had been threatened [...]
Burberry says coronavirus has had ‘more significant impact on sales than Hong Kong protests’ February 7, 2020 Burberry has said that the coronavirus outbreak in China has had a more significant impact on its sales than the last year’s Hong Kong protests. The luxury fashion group has had to close around 24 of its 64 stores in China, while the rest were operating on reduced hours. The Chinese market accounts for around [...]
FTSE 100 rises after China cuts US tariffs amid coronavirus outbreak February 6, 2020 The FTSE 100 and global stock markets have risen after China cut tariffs on US goods in a bid to boost market sentiment amid the coronavirus outbreak, with an all-Europe index hitting a record high. The FTSE 100 was 0.3 per cent higher by 3pm, despite the third case of coronavirus being reported in the [...]
Coronavirus: Opec agrees provisional 600,000 barrel oil production cut February 6, 2020 Oil cartel Opec’s technical committee has recommended a 600,000 barrel per day production cut in an attempt to counter falling demand due to China’s coronavirus outbreak. Sources told Reuters that the group was awaiting Russia’s decision on the potential cut, which is larger than the 500,000 barrel curb that had been mooted. If approved by [...]
Coronavirus: British advice to leave China ‘excessive’, says ambassador February 6, 2020 The government’s advice for British citizens to leave China because of coronavirus is excessive, the Chinese ambassador to the UK has said. Liu Xiaoming said the number of cured patients was rising, adding that his country was “fully confident” of beating the virus. The comments came after the Foreign Office urged all Brits to leave [...]
Asian stocks soar after China halves US tariffs February 6, 2020 Asian stocks surged overnight after China announced it would halve tariffs on about 1,700 US goods in a bid to boost market sentiment amid the coronavirus outbreak. China’s Shanghai composite index finished 1.7 per cent higher, Japan’s Nikkei jumped 2.4 per cent, and Hong Kong’s Hang Seng rose 2.5 per cent. Beijing’s finance ministry said [...]
Oil prices soar as coronavirus cure rumours fuel optimism February 5, 2020 Oil prices broke three weeks of consistent falls today, soaring four per cent as markets reacted wildly optimistically to reports that a breakthrough had been made in the search for a coronavirus cure. Global benchmark Brent crude gained almost $2 to reach $55.91, an increase of 3.6 per cent. West Texas Intermediate shot up 3.5 [...]