In the news
- Boris Johnson has ordered a review into the £65m sale of Newport Wafer Fab to Chinese-owned Nexperia.
- The European Central Bank has set a new 2% inflation target.
- The Inter-Parliamentary Alliance on China has accused HSBC chairman Mark Tucker of prioritising profit over upholding international law.
- The Financial Conduct Authority has fined Lloyds £90m for sending millions of misleading letters to customers in its home insurance arm.
- Two senators have called on the Securities and Exchange Commission to investigate whether Didi Chuxing misled investors ahead of its IPO.
- The G20 meets in Venice today, with a proposed global corporate tax top of the agenda.
Stock market moves
- In the US, the S&P 500 dropped 0.86%.
- In Asia, Hong Kong’s Hang Seng Index rose 0.98% while China’s Shanghai Composite index declined 0.02%.
- In Europe, the FTSE 100 is up 0.47% and the STOXX 600 is marginally down in the early hours of trading.