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China’s biggest tech stocks are on track for their worst week in four months as groups including Alibaba came under renewed selling pressure on the latest signs that Beijing’s regulatory crackdown was tightening. The Nasdaq Golden Dragon index of large US-listed Chinese stocks closed more than 5 per cent lower on Thursday in New York,

European stocks tumbled at the open on Thursday, with commodities also under heavy pressure on mounting concerns over US monetary policy and the renewed spread of coronavirus. Major bourses across the region slid in early trading, with London’s FTSE 100 dropping about 2 per cent. The broad Europe Stoxx 600 fell 1.4 per cent with

The Taliban is rushing to work out how to govern Afghanistan after the militant Islamist group’s exiled leaders came back to a country that has changed profoundly since it was driven from power 20 years ago. While the Taliban has been setting up shadow governors and administrators to rule its conquered territory, the US has

The Taliban has urged public officials to return to work and renewed a pledge to grant amnesty to government workers a day after Joe Biden blamed Afghan security forces for their rapid capitulation to the insurgents. The Islamist group’s effort to reassure Afghans came as evacuation flights resumed from Kabul, following a chaotic day at

Afghans were bracing themselves for life under strict Islamic rule on Monday after the Taliban drove the US-backed government of Ashraf Ghani from power to establish control of Kabul. Thousands of residents filled the airport and throngs of people tried to push their way on to planes in a desperate effort to flee after the

Britain’s defence secretary has warned that Afghanistan risks descending into civil war and becoming a failed state as the Taliban captures large cities and gains ground in the wake of the hasty US troop withdrawal. The Islamist militia is now in control of Kandahar, Afghanistan’s second-biggest city, and Lashkar Gah in Helmand province after weeks

The US and UK will deploy troops to help evacuate staff from their embassies in Kabul as the Taliban continues its lightning rout of provincial capitals in Afghanistan following president Joe Biden’s decision to withdraw American troops. The Pentagon said it was sending 3,000 troops to Kabul in the next 24-48 hours to help with

The White House has called on Opec to boost oil production in an effort to curb high gasoline prices that Biden administration officials say “risk harming the ongoing global recovery”. Jake Sullivan, Joe Biden’s national security adviser, said in a statement on Wednesday that while Opec and its allies had “recently agreed to production increases”,

The US Senate passed a sweeping $1tn infrastructure bill on Tuesday in a major victory for Joe Biden and congressional Democrats. Nineteen Republicans, including the Senate minority leader Mitch McConnell, joined with all Democrats in Congress’s upper chamber to back the bill, which would dole out $550bn in new federal spending over the next five

The US Senate is set to pass a $1tn package to invest in America’s crumbling infrastructure with significant Republican support, a bipartisan vote that will be seen as a major legislative achievement of Joe Biden’s young presidency. Senators voted 68-29 late on Sunday to end the debate on the infrastructure bill, setting up a final

Beijing’s regulatory assault on China’s technology industry has lopped $87bn off the net worth of the sector’s wealthiest tycoons since the start of July, hitting the fortunes of magnates such as Tencent’s Pony Ma and Pinduoduo’s Colin Huang. The combined net worth of the two dozen Chinese billionaires in tech and biotechnology whose holdings are

Warren Buffett’s Berkshire Hathaway reported a 7 per cent increase in profits in the second quarter, with many of the companies owned by the sprawling conglomerate benefiting from the economic recovery. The investment company disclosed on Saturday that it had earned $28.1bn, or $18,488 per class A share, in the three months to the end

WhatsApp has condemned Apple’s new child safety tools as a “very concerning . . . surveillance system”, even as governments around the world have cheered the decision to proactively search for illegal photos of child sexual abuse. The stand-off sets up a battle between other tech platforms and officials calling for them to adopt similar tools. An Indian government

Apple intends to install software on American iPhones to scan for child abuse imagery, according to people briefed on its plans, raising alarm among security researchers who warn that it could open the door to surveillance of millions of people’s personal devices. Apple detailed its proposed system — known as “neuralMatch” — to some US

Robinhood shares surged as much as 82 per cent at the start of trading on Wednesday, prompting multiple trading halts as the market capitalisation of the newly listed US brokerage briefly climbed to $71bn. The rally, which lifted the stock to a high of $85, has accompanied a furious start to trading in the company’s

New York City will require proof of vaccination for a variety of indoor activities from dining to health clubs and concerts, Bill de Blasio, the city’s mayor, announced on Tuesday. The city is believed to be the first in the US to introduce such restrictions as the highly infectious Delta coronavirus variant causes a rise

A failed vote to unionise at an Amazon warehouse in Alabama should be rerun over concerns the tech giant improperly influenced workers, a US labour board official has recommended. Employees at the facility in the town of Bessemer voted overwhelmingly against unionisation in April, with a final tally of 1,798 votes to 738, following a

House prices are booming in almost every major economy in the wake of the coronavirus pandemic, forging the broadest rally for more than two decades, and reviving economists’ concerns over potential threats to financial stability. Of the 40 countries covered by OECD data, just three experienced real-terms house price falls in the first three months

A leading US bond manager has warned of inflationary pressure from housing rental costs that could push interest rates higher and overturn a sense of complacency among investors. The comments by Dan Ivascyn, chief investment officer at Pimco, which has $2.2tn under management, comes after US 10-year interest rates eased in recent months to about

China-based companies will have to disclose more about their structure and contacts with the Chinese government before listing in the US, the Securities and Exchange Commission said on Friday. Gary Gensler, the chair of the US corporate and markets regulator, has asked staff to ensure greater transparency from Chinese companies following the controversy surrounding the