Chipmakers across the world took a hit on Monday from the fallout surrounding the US crackdown on Chinese technology group Huawei, with stocks in major suppliers tumbling to the lowest level in more than two months.

Ford announced plans to eliminate 7,000 jobs, or about 10 per cent of its global workforce, as part of its ongoing $11bn effort to restructure its business.

Technology stocks led Wall Street and European bourses lower on Monday as investors measured the implications of the trade dispute between China and the US.

The chairman of the Federal Communications Commission has backed the proposed $26bn merger of T-Mobile and Sprint, boosting the likelihood that the union between the country’s third- and fourth-largest wireless operators will be approved.

Pakistan’s central bank has increased interest rates, as expected, citing the need to contain inflation and a devaluation of the rupee, which has shed nearly 6 per cent in two months.

A push into higher margin online services and home devices helped Chinese smartphone maker Xiaomi weather a “challenging” quarter for phone sales in its home market and swing back into profit.

Jaguar Land Rover swung to a profit in the final quarter of its financial year, after rounds of cost-cutting at the UK’s largest carmaker began to pay off.

Greenpeace activists have blocked access to BP’s London headquarters, demanding the energy major end new oil and gas exploration and switch to renewable investments.

Indian stocks recorded their strongest rally in more than three years on Monday after exit polls pointed to a win for the ruling Bharatiya Janata party-led coalition.

London-listed materials maker Low & Bonar said on Monday its chief executive would be leaving as it warned the US-China trade war was taking a toll on its results and said it needed to expedite its turnround efforts.

Volodymyr Zelensky was sworn in as president of Ukraine on Monday and immediately called parliamentary elections in the hoping that an early poll will help him to consolidate power after his landslide victory.

Goldman Sachs is in exclusive talks to buy European budget hotel chain B&B Hotels from private equity group PAI Partners for nearly €2 billion.

Crude prices rallied on Monday after key producer Saudi Arabia said supplies were “plentiful” and signalled it would back sustained output cuts, boosting the currencies of oil producing countries.

China’s Ganfeng Lithium, the country’s second-biggest producer of the electric car raw material, agreed to buy a 30 per cent stake in London-listed Bacanora Minerals, backing its plans to build a lithium mine in Mexico.

Shares in Australia’s big banks rose sharply on Monday following the ruling conservative party’s surprise victory in the country’s general election, setting aside expectations of further financial industry reform promised by the opposition.

Australia’s Lynas Corp is forming a joint venture with a Texas-based rare earths company to build a processing plant in the US, looking to capitalise on a gap in the US supply chain for raw materials critical to the electronics and energy industry.

Japanese gross domestic product unexpectedly grew in the first quarter of year, as the world’s third-largest economy was boosted by better-than-expected exports. 

Japan is more likely to go ahead with a controversial rise in consumption tax this autumn after the economy unexpectedly grew by an annualised 2.1 per cent in the first quarter of 2019.

The Australian dollar sprang higher in early trade on Monday after the country’s ruling conservatives won a “miracle” victory in elections over the weekend.

Elections across the European Union will enter the spotlight after a week dominated by renewed trade tensions between the US and China — an issue that is sure to continue weighing on the minds of investors ahead of the G20 summit in June.

US stocks snapped their three-day winning streak on Friday as investors remained unnerved by the stand-off on trade between Washington and Beijing, while the renminbi touched a new low for 2019.

Metro Bank will stop hiring the architectural firm owned by its chairman’s wife after next year, bowing to pressure after several major proxy advisers and investors including the UK’s largest fund group criticised it over conflicts of interest.

The US has reached an agreement with Canada and Mexico to remove tariffs on steel and aluminium it imposed last year on national security grounds, people familiar with the matter said.

The US 10-year Treasury is eyeing its best week in nearly two months after concerns over trade drew investors back to haven assets over recent sessions.