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  • Pound hits two-year low as City fears of no-deal Brexit intensify

    Sterling falls by a cent against dollar after Tory leadership candidates’ backstop remarks The pound has fallen to its lowest level in more than two years after pledges by both Boris Johnson and Jeremy Hunt to ditch a key part of the UK-EU withdrawal agreement intensified City fears over a no-deal Brexit. Sterling fell by a cent against the US dollar after a Sun and Talkradio debate in which both the contenders to replace Theresa May in Downing Street said they would not accept a Northern...

    the Guardian
  • China's growth rate hits 27-year low as trade war drags on

    Rolling coverage of the latest economic and financial news, including reaction to the latest Chinese GDP reportIntroduction: China’s growth rate drops to 6.2%Lowest levels since records began in 1992But industrial production and retail sales have strengthened 11.51am BST The news that Alan Turing, the father of modern computing, will grace the new £50 is being well-received. Here’s Conservative MP Guy Opperman:Alan Turing a great choice for new £50 banknote Turing...

    the Guardian
  • UK manufacturing PMI hits six-year low; trade truce boosts markets

    Trade optimism is pushing markets up despite weak factory data in the UK, the eurozone and ChinaLatest: UK factories suffer slump in JuneFactory PMI slumps to just 48.0, down from 49.2Earlier:FTSE 100 surges to highest since AprilIntroduction: US-China trade breakthrough cheers marketsAnalysts: Xi-Trump deal is cheering investors 11.21am BST The US stock market is expected to cheer the US-China trade truce when it opens, in just over three hours time. The Dow Jones industrial average is tipped...

    the Guardian
  • Analysts think global 5G smartphone shipments will overtake 4G in 2023 – TechCrunch

    After years of buildup, 5G is finally here — albeit more as a trickle than a deluge. These things take time, of course. Carriers are adding coverage, city by city, promising dozens by year’s end. And as for hardware, early adopters have somewhere between one and three handsets to choose from, carrier-dependent. Indeed, 5G is [