The Government has announced plans to remove and ban Chinese tech giant Huawei from the UK’s 5G network.

Ministers have agreed to prohibit telecoms firms from purchasing any new 5G Huawei equipment from the start of next year.

The Government will also remove all Huawei equipment from 5G networks by 2027.

Culture Secretary Oliver Dowden admitted that the ban will delay the network’s roll-out by a “further year” and add up to “half a billion pounds” to costs.

But he told the Commons that the UK can no longer be confident in guaranteeing the security of future Huawei 5G

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Two-thirds of UK adults now rely on mobile and online banking technology to manage their money, as lockdown prompts the wholesale shift to digital financial management.

Since March, a study of thousands of British adults has found almost 90 per cent check their accounts, 80 per cent transfer money, and 35 per cent even withdraw investment funds using fintech, as physical banking options remained closed.

Others have opened savings accounts, applied for credit cards and extended overdrafts. More than a fifth of fintech users said they have successfully secured new financial products during the lockdown without having to

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(Bloomberg) — Trading ideas are stacking up for what’s set to be a difficult second-quarter earnings season featuring a wide variation in performance due to the coronavirus pandemic.

Stocks have surged from March’s lows despite the bleakest profit outlook since the global financial crisis, with S&P 500 earnings expected to drop about 44{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9}. Megacap technology firms led the stimulus-fueled rally and a key debate is whether they will keep that role as the earnings picture becomes clearer.

“For all but a fortunate few — notably among the FAANGs — the earnings numbers will be abysmal,” Tan Kai Xian, a statistician

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Key Takeaways:

  • Analysts expect a decline in Q2 and Q3 earnings but a strong recovery from Q4 2020 through 2021
  • Companies producing or offering cloud-based and subscription-based services performed better during the COVID lockdown period
  • Economic reopening might shift the sector paradigm to a “new normal”

As tech companies begin reporting Q2 earnings, the current market environment might best be summed up by that Dickens line about being the best of times and the worst of times.

On the one hand, shares advanced fiercely through the quarter against a backdrop of state reopenings. But earnings almost certainly took a huge

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* Moderna to start late-stage trial of COVID-19 vaccine in July

* JPMorgan tops estimates, Wells Fargo swings to loss

* Delta warns air travel recovery two years away

* Dow rises 0.99{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9}, S&P up 0.22{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9}, Nasdaq down 0.40{cb3fe4c54de06d7c4b8dceae281fb32e521027d1659af7adec2f427d2f5333d9} (Updates to early afternoon)

By Medha Singh and Devik Jain

July 14 (Reuters) – The S&P 500 and Dow indexes edged higher in volatile trading on Tuesday as investors digested a mixed bag of quarterly earnings reports from U.S. lenders but technology stocks fell

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(Bloomberg) — Shopify Inc. garnered a new top bull, with National Bank Financial boosting their price target to a Street-high of $1,250.

National Bank is opting for a longer-term view on Canadian tech stock valuations, despite short-term questions about where shares are trading.

“The reality is if we take the stock price increases and the respective valuations in isolation, it would most certainly be reasonable to say they’re looking stretched on short-term numbers – we’d be foolish not to acknowledge that,” analyst Richard Tse told clients in a note.

Shares of Shopify have cooled in recent sessions, though remain up

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