FTSE 100 reaches two-month high as US-China trade war enters truce July 1, 2019 The FTSE 100 soared to a two-month high as European stocks rallied as G20 summit talks between President Donald Trump and Chinese premier Xi Jinping appeared to offer signs of progress. Trump said negotiations to end the economic dispute are “right back on track” after pledging to pause any new tariffs on Chinese goods in [...]
Nokia disowns executive’s attack on Huawei security June 28, 2019 Nokia has issued a statement disowning disparaging comments made by one of its senior executives about Chinese rival Huawei. In an interview with the BBC, Nokia chief technology officer Marcus Weldon warned the UK against using equipment made by Huawei, citing concerns about national security. Read more: Nokia warns UK over use of Huawei kit [...]
Nokia warns UK over use of Huawei 5G kit in swipe at rival June 28, 2019 Telecoms firm Nokia has warned the UK against using equipment made by its Chinese rival Huawei, citing concerns about network security. The Finnish firm said Huawei kit had security vulnerabilities that posed a risk to 5G networks and insisted rival vendors were more reliable. Read more: Blanket bans ‘not the answer’ to Huawei question, report [...]
Bitcoin: Is it starting to feel like 2017 all over again? June 27, 2019 By Gary McFarlane from interactive investor. Bitcoin’s decisive break above the psychologically important $10,000 mark – with $11,000 breached over the weekend and in sight again – is being driven by institutional investors and the afterglow from Facebook’s Libra news, despite the regulatory and political pushback against Mark Zuckerberg’s global money plans. Also, the recommendations, as expected, from [...]
US and China ‘agree tentative trade truce’ ahead of G20 summit June 27, 2019 China and the US have reportedly agreed to a tentative truce in their ongoing trade war, two days before crucial talks at the G20 summit this weekend. Details of the agreement, which would scrap plans for a further round of US tariffs on an additional $300bn (£236bn) of Chinese goods, will be laid out in [...]
Japanese stocks surf higher over troubled waters June 25, 2019 Tokyo’s blue-chip Nikkei 225 stock index is riding out regional fears over China and Hong Kong as well as wider concerns regarding Iran and the US. Despite Japan’s special vulnerabilities to both East Asian tensions and higher oil prices, the index is trading higher than either a month or three months ago. This creates a [...]
MPs warn against UK neglecting ties with India in favour of China June 24, 2019 The UK is failing to build an economic and security relationship with India as it grows in wealth and influence, the Foreign Affairs Committee (FAC) has today warned. Read more: New UK-India tech hub to be opened in confidence boost for the City In a new report the FAC cautioned that Britain’s focus on building [...]
Shares in chipmaker IQE plummet as it warns Huawei ban will hit profit June 21, 2019 Shares in chipmaker IQE plunged almost 40 per cent this morning after it revised down its full-year revenue and profit guidance due to the US trade ban on Huawei. The Cardiff-headquartered firm, which makes semiconductor wafers for smartphone brands including Apple, warned restrictions on the Chinese tech firm, coupled with a slowdown in the global [...]
Moody’s downgrades Jaguar Land Rover as it battles China slowdown June 20, 2019 Embattled car giant Jaguar Land Rover (JLR) suffered a fresh blow today after credit rating agency Moody’s downgraded the firm and warned of a “negative outlook”. Moody’s has reduced its corporate family rating to B1 from Ba3 and the probability of default rating to B1-PD from Ba3-PD. It also downgraded the instrument ratings on the [...]
Huawei founder downplays $30bn revenue hit after US ban June 20, 2019 Huawei’s founder Ren Zhengfei has played down the impact of a US trade ban on the Chinese tech firm, just days after it forecast a $30bn ($23.6bn) drop in revenue for the year. Ren said Huawei would still post $100bn in revenue this year, roughly flat compared to 2018, and insisted the firm’s consumer business [...]