Canada arrests chief financial officer of China’s Huawei

The chief financial officer of China’s global telecomms giant Huawei has been arrested in Canada and faces extradition to the United States, officials said Friday, triggering a strong protest by Beijing, which called for her immediate release. Meng Wanzhou’s detention comes after American authorities reportedly launched an investigation into suspected Iran sanctions by Huawei, which […]

British pound rises as chances for Brexit reversal rise

The British pounds strengthens against the U.S. dollar and the euro after a string of parliamentary defeats for UK Prime Minister Theresa May increases the chances that Brexit will eventually be called off. The odds are still below 50%, though. JPMorgan raised the probability of Britain ultimately staying in the EU to 40% from 20%. […]

IBM set to acquire Red Hat in $34B deal

IBM announced Sunday it will acquire North Carolina-based open-source software company Red Hat in a $34 billion stock deal that the technology and consulting giant’s chief executive says will advance the company to the next step in cloud computing. IBM and Raleigh-based Red Hat said in a joint statement that IBM would buy all Red […]

Saudi crown prince proclaims investment conference a success despite boycott

Saudi Arabia’s crown prince trumpeted on Tuesday a conference that has drawn investment deals worth $50 billion despite a boycott over the killing of journalist Jamal Khashoggi, declaring the event as “great – more people more money”. This year’s Future Investment Initiative was overshadowed by the death of the Saudi journalist, a critic of Crown […]

JP Morgan and Ford cancel plans for Saudi investor conference

JP Morgan & Chase Co Chief Executive Jamie Dimon and Ford Motor Co Chairman Bill Ford canceled plans to attend a Saudi investor conference, the companies said on Sunday, the latest such high-profile announcements after the disappearance of Saudi journalist Jamal Khashoggi. The cancellations could add pressure on other U.S. firms like Goldman Sachs Group […]

Asia stocks down amid US-China trade tensions and US political uncertainty

Asia markets were broadly negative on Tuesday, amid concerns over the ongoing trade spat between the U.S. and China. Mainland China markets closed lower following Monday’s public holiday. The Shanghai composite ended the trading day lower by 0.58 percent at around 2,781.14 while the Shenzhen compositealso slipped by 0.54 percent to close at about 1,437.31. […]

China-U.S. trade war: $168 billion has been wiped off the value of Chinese stocks

Baidu, Alibaba and Tencent — the BATs — have seen over a collective $168 billion wiped off their valuation. Alibaba shares are down over 11 percent year-to-date, Tencent has plunged 22.4 percent, while Baidu is off more than 6 percent. The China-U.S. trade war, concerns over valuation and a regulatory crackdown from Beijing have hit […]