19 February

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UK court blocks release of HSBC papers in Huawei CFO fraud case By Reuters

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LONDON (Reuters) - A British judge on Friday blocked the release of internal HSBC documents relating to U.S. fraud allegations against Huawei Chief Financial Officer Meng Wanzhou. Meng is facing charges of bank fraud in the United States for allegedly misleading HSBC about Huawei's business dealings in Iran, causing the bank to violate U.S. sanctions. She has been under house arrest...

19 February

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UK delays review of business rates tax until autumn By Reuters

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LONDON (Reuters) - Britain's finance ministry said it would delay publication of its review of business rates - a tax paid by companies based on the value of the property they occupy - until the autumn when the economic outlook should be clearer. Many companies are demanding reductions in their business rates to help them compete with online retailers. "Due to the...

19 February

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Discounter Pepco has all of Europe in its sights By Reuters

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By James Davey LONDON (Reuters) - Pepco Group, which owns British discount retailer Poundland, has targeted 400 store openings across Europe in its 2020-21 financial year as it expands its PEPCO brand beyond central and eastern Europe, its boss said on Friday. The group opened a net 327 new stores in its 2019-20...

19 February

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India shares lower at close of trade; Nifty 50 down 0.91% By Investing.com

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Investing.com – India equities were lower at the close on Friday, as losses in the Auto, Metals and Banking sectors propelled shares lower. At the close in NSE, the Nifty 50 lost 0.91%, while the BSE Sensex 30 index fell 0.85%. The biggest gainers of the session on the Nifty 50 were UPL Ltd (NS:UPLL), which rose 2.56% or 13.85 points...

19 February

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Xiaomi set to enter auto industry, shares rally in Hong Kong By Investing.com

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By Samuel Indyk Investing.com – Xiaomi , the Chinese electronic company with a history in smartphones and home appliances, saw its shares rally in Hong Kong on Friday, closing the week higher by over 6%. Some have suggested the reason for the rally stems from a report that the company is considering entering the automobile industry. iFengNews first reported the story, stating...

19 February

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Sunak reaffirms goal of ‘sustainable’ borrowing By Reuters

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LONDON (Reuters) - British finance minister Rishi Sunak again defended record public spending during the coronavirus pandemic after official figures on Friday showed public borrowing reached 270.6 billion pounds ($378 billion) in the 10 months to January. "This is the fiscally responsible thing to do and the best way to support sustainable public finances in the medium-term," he said of more than...

19 February

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UK says will not use vaccines as diplomatic leverage By Reuters

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LONDON (Reuters) - Britain will not use vaccines as a short-term diplomatic tool, foreign office minister James Cleverly said on Friday, speaking about the country's plan to donate surplus vaccines to the COVAX initiative to support developing countries. "We are not going to use vaccine distribution as some kind of - as some countries are doing - short term diplomatic leverage,"...

19 February

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Future PLC shares jump as profits top expectations By Investing.com

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By Samuel Indyk Investing.com – Future PLC (LON:FUTR) shares were higher in early trade after the company said they expect full year profitability to be materially ahead of market expectations. The UK-listed media company owns various magazines that are sold in the UK and the US, including football magazine FourFourTwo, What Hi-Fi?, and Guitar World. In a statement, the company said...

19 February

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Strong Asia pushes Hermes sales up 16% in fourth quarter By Reuters

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By Silvia Aloisi MILAN (Reuters) - Birkin bag maker Hermes weathered the coronavirus pandemic better than luxury goods rivals, with sales recovering sharply in the final part of 2020 thanks to a strong performance in Asia and soaring online revenues. The French group said on Friday sales in the October to December period rose by 16% at constant exchange rates - way...

19 February

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UK retail sales drop, NatWest loss dampen FTSE 100 mood By Reuters

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By Shivani Kumaresan and Amal S (Reuters) - The FTSE 100 was muted on Friday as a bigger-than-expected drop in January retail sales underscored the business damage from a prolonged nationwide lockdown, while NatWest group fell after swinging to an annual loss. The commodity-heavy FTSE 100 was flat as gains in miners Anglo American (LON:AAL), Rio Tinto (LON:RIO)...

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News

UK court blocks release of HSBC papers in Huawei CFO fraud case By Reuters

UK delays review of business rates tax until autumn By Reuters

Discounter Pepco has all of Europe in its sights By Reuters

India shares lower at close of trade; Nifty 50 down 0.91% By Investing.com

Xiaomi set to enter auto industry, shares rally in Hong Kong By Investing.com

Sunak reaffirms goal of ‘sustainable’ borrowing By Reuters

UK says will not use vaccines as diplomatic leverage By Reuters

Future PLC shares jump as profits top expectations By Investing.com

Strong Asia pushes Hermes sales up 16% in fourth quarter By Reuters

UK retail sales drop, NatWest loss dampen FTSE 100 mood By Reuters

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