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Share Price: 133.15
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Huawei tech in UK's 5G network to be stripped out by 2027

Tue, 14th Jul 2020 12:04

(Sharecast News) - Prime Minister Boris Johnson has ordered that all Huawei technology in the UK's 5G network must be taken down by 2027.
He also imposed a ban on the purchase of any 5G equipment from the Chinese tech giant. The ban comes into effect at the end of 2020.

Digital Secretary Oliver Dowden told the House of Commons of the decision and said that the decision would mean a one-year delay in the roll-out of the country's 5G network.

"This has not been an easy decision, but it is the right one for the UK telecoms networks, for our national security and our economy, both now and indeed in the long run," he said.

The US, in particular, had pressed hard, including in public, for Huawei to be excluded from the UK's next generation network.

In 2019, the Trump administration warned allies around the world of its concerns that Huawei could use its capabilities to spy for the Chinese government.

Huawei has repeatedly denied such claims.

Acting on the advice of the National Cyber Security Centre (NCSC) that reviewed the matter in depth, Johnson accepted that new US sanctions on Huawei are a "game changer" in relation to the impact of the firm's technology on the UK's national security.

Johnson was referring to the latest order from Washington, issued in May, which blocked Huawei from using computer chips based on American designs in any of its devices.

The UK's announcement, which was agreed on at a meeting of the National Security Council on Tuesday morning, marked a complete U-turn from the government's previous stance of allowing the company to have a minor role in the development of the key infrastructure.

In January, the PM had confirmed that Huawei would be able to build "non-core" parts of the UK's 5G network but would have to accept a series of conditions in order to remain involved.

At the time, the decision angered the US government, which subsequently ramped up pressure against the company and began talks with UK officials in an attempt to sway them.
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(Alliance News) - Stock prices across Europe were muted on Thursday, as investors cautiously eye the next set of US jobs data.

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7 Dec 2023 10:16

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(Alliance News) - The following London-listed shares received analyst recommendations Thursday and Wednesday:

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5 Dec 2023 15:26

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(Sharecast News) - London's financial markets finished with a mixed performance on Tuesday as investors considered key economic data and developments from both sides of the Atlantic.

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(Alliance News) - The following London-listed shares received analyst recommendations xxxxday morning:

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UPDATE: BT, Aurelius don't intend takeover offer for musicMagpie

(Alliance News) - BT Group PLC and Aurelius Investment Advisory Ltd said that they are not intending to make an offer for Stockport, England-based used-technology reseller musicMagpie PLC.

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BT says not intending takeover offer for musicMagpie

(Alliance News) - BT Group PLC on Monday said that it is not intending to make an offer for Stockport, England-based used-technology reseller musicMagpie PLC.

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BT Group not planning to make offer for MusicMagpie

(Sharecast News) - BT Group said on Monday that it is not planning to make an offer for MusicMagpie.

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LONDON BROKER RATINGS: Peel, Numis up Rightmove; Goldman cuts Entain

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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LONDON BROKER RATINGS: UBS cuts Auto Trader; Bryan Garnier likes Sage

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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London close: Stocks mixed ahead of Autumn Statement

(Sharecast News) - London's stock markets saw a mixed performance at the close of trading on Monday, with Ashtead and Compass among the leading losers.

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