Alibaba Group is set to invest $1. 41bn (10bn yuan) in an artificial intelligence and Internet of Things system centered around its Tmall Genie smart speaker, the company announced on Wednesday.
Trust in the travel industry has plunged to an all-time low as would be travellers experience delays in refunds for coronavirus cancellations, in breach of the law.
The focus on Thursday will remain firmly on the UK where two closely-followed surveys are expected to show a substantial slowdown in the pace of economic contraction, although both should remain well in recession territory.
US stocks closed higher on Wednesday, with major indices clawing back most of the losses recorded in the previous session despite some heightened rhetoric from the President aimed at China.
Stocks across Europe recovered on Wednesday as optimism over the gradual easing of lockdowns across many countries helped to offset doubts raised during the previous session around one of the most promising vaccine candidates against Covid-19.
London stocks finished on Wednesday, with optimism regarding the lifting of lockdowns on many overseas economies helping to offset a dip in optimism over potential coronavirus vaccines.
Scapa Group revealed on Wednesday that chief executive Heejae Chae, along with several other board members, had upped their stakes in AIM-listed industrial materials firm following a placing of new ordinary shares.
Liberum lifted its price target on shares of Boohoo to 430p from 330p on Wednesday.
Bank of England Governor Andrew Bailey has said the central bank is not ruling out negative interest rates as a response to the Covid-19 economic crisis.
Shares of Inovio Pharmaceuticals surged on Wednesday as it said a preclinical study of its experimental Covid-19 vaccine - IN0-4800 - produced antibodies in animals.
London’s FTSE 100 was up 0. 8% at 6,050. 47 in afternoon trade on Wednesday.
Analysts at JP Morgan reiterated their 'underweight' recommendation for shares of Compass Group and slashed their target price, citing the speed and magnitude of the changes expected in the sector.
London’s FTSE 250 was up 0. 3% at 16,363. 15 in afternoon trade on Wednesday.
US stocks opened higher on Wednesday, with major indices clawing back some most of the losses recorded in the previous session.
Crispin Odey, one of Europe's most prominent hedge fund managers, has said governments might ban private ownership of gold if inflation runs out of control after the Covid-19 crisis.
The chairman of the UK's accounting regulator has quit after less than eight months in the job because of conflicts with his work in the private sector.
Google pledged to stop making customized AI tools for oil and gas firms in a pledge to help in the fight against climate change.
The Chinese government emerged as a shareholder in troubled budget carrier Norwegian Air following a debt restructuring and credit guarantee deal agreed on Wednesday.
UK retailer Marks & Spencer said annual year profits fell by a fifth as it felt the early impact of the Covid-19 pandemic, adding that it would speed up restructuring plans.
Videogames maker Frontier Developments has seen increased demand for its titles over recent months as a result of Covid-19 lockdowns across the world.
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