BASF profit warning sparks European chemicals spill July 9, 2019 Chemicals stocks weighed on European markets today as German giant BASF warned on profits in the wake of the US-China trade war. The company did worse than the already gloomy predictions from analysts, who had not bought its insistence in May that operating profit would grow. The firm had forecast growth at the lower end [...]
Vogue publisher Conde Nast dumps stake in retail platform Farfetch July 7, 2019 Conde Nast, the publisher of Vogue magazine, has dumped its £234m stake in luxury retail platform Farfetch. The company has concerns over how the marketplace is managed under founder and chief executive Jose Neves, according to the Sunday Times. Read more: Conde Nast launches new online magazine Vogue Business The newspaper reported that Conde Nast [...]
Police arrest man after Baidu boss drenched on stage July 4, 2019 Chinese police have arrested a man in connection with an incident that saw someone pour a bottle of water over the head of search giant Baidu’s chief executive. Robin Li was left soaked during a keynote address at Baidu’s annual Create conference in Beijing yesterday after a man stepped on stage to empty the bottle [...]
Vodafone looks to woo business as it switches on 5G network July 3, 2019 Vodafone today switched on its 5G network in seven cities across the UK, rolling out a new range of plans in a bid to attract business customers. Vodafone is the second mobile provider to roll out the high-speed network in the UK, following EE’s launch at the end of May. Read more: Vodafone taps up [...]
Mark Carney warns trade war could ‘shipwreck’ global economy July 2, 2019 Bank of England governor Mark Carney today warned that a trade war could “shipwreck” the global economy. Speaking in Bournemouth today Carney said financial markets had recently experienced a “profound transformation” driven by growing concerns over the impact of rising trade tensions and policy uncertainty. Read more: No-deal Brexit would cost UK £90bn, warns Philip [...]
Social media ad spend growth plummets amid decline in trust July 2, 2019 Growth in advertising revenue for social media firms declined by roughly a half in the first three months of the year, in a sign of possible cooling in the digital ad market. Social media giants remain dominant in the online advertising sector, with ad spend rising 26 per cent year-on-year to just under $18bn (£14.2bn), [...]
China wants to create a tech landscape where the US can no longer hurt it July 2, 2019 Global markets have rallied on the reignition of trade talks between the US and China, after the meeting between President Donald Trump and President Xi Jinping at the weekend. But analysts say China is already adapting to the changing business landscape, and that trade – and particularly, technological – relations will never be the same again. Meeting [...]
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 [...]