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Happy birthday bitcoin: The cryptocurrency is turning ten

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Huawei fight could make China cut off Silicon Valley investment

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A flurry of negative headlines has thrust Huawei’s public relations team into overdrive.

On Tuesday, Huawei Chairman Liang Hua, told world leaders gathered in Davos that his company could shift away from Western countries if it continues to face restrictions.

Liang also told reporters at the World Economic Forum (WEF) that Huawei follows regulations wherever it operates.

When asked whether it was possible for China to abruptly divert money away from Silicon Valley, John Zhao, founder and chief executive of Hony Capital, replied: “By numbers, that seems to be the case.”

“But it really suggests something that is much deeper than the number has started to show. First of all, it shows the interdependency that the world has built with each other … But it also suggests that while there are some short-term pains to be resolved, we need to have a long-term view,” Zhao said, while speaking to CNBC’s Nancy Hungerford in Davos on Wednesday.

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ING CEO says ECB should not change policy amid trade war, Brexit

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Ralph Hamers, chief executive officer of ING Groep NV, gestures while speaking at the Handelsblatt banking summit in Frankfurt, Germany, on Wednesday, Sept. 6, 2017. Deutsche Bank Chief Executive Officer John Cryan called for an end to the era of cheap money in Europe, saying that the prolonged period of rock-bottom

Alex Kraus | Bloomberg | Getty Images

Ralph Hamers, chief executive officer of ING Groep NV, gestures while speaking at the Handelsblatt banking summit in Frankfurt, Germany, on Wednesday, Sept. 6, 2017. Deutsche Bank Chief Executive Officer John Cryan called for an end to the era of cheap money in Europe, saying that the prolonged period of rock-bottom

“There’s quite some uncertainty around US-China trade — the question is, is it a trade war or is it all about technology or is it even beyond that? There is quite some uncertainty about Brexit — is there going to be a deal – looks not so likely; are they able to then postpone it and buy some time to get a deal? Or is it going to be a no-deal Brexit,” Hamers recognized.

Both events are highly likely to have an impact on the euro zone economy which is still recovering fro its sovereign debt crisis of 2011. “Just react on the back of some of these developments,” Hamers suggested to the ECB.

Some bankers have been critical of the low interest rate environment in the euro zone, which traditionally would hurt the balance sheet of the region’s lenders. According to the ECB’s latest guidance, the central bank does not expect to increase rates by, at least, the end of the summer.

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UK trade minister Liam Fox says he sees ‘good chance’ of a Brexit deal

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Liam Fox, U.K. international trade secretary, speaks at the American Enterprise Institute in Washington, D.C., U.S., on Monday, July 24, 2017.

Eric Thayer | Bloomberg | Getty Images

Liam Fox, U.K. international trade secretary, speaks at the American Enterprise Institute in Washington, D.C., U.S., on Monday, July 24, 2017.

British Trade Secretary Liam Fox told CNBC on Wednesday that he believed there was a “good chance” of securing an exit deal with the European Union.

UK lawmakers are proposing alternative plans to the current agreed deal with the EU after it was soundly rejected in Parliament. Options include seeking an extension to the U.K.’s current exit date of March 29.

The U.K. international trade secretary said he didn’t think any extension was likely but he had seen some movement towards compromise among U.K. MPs.

“There’s a good chance that we’ll get it because there is a growing awareness both in Europe and and the U.K, perhaps more importantly in Westminster, that under the law European treaties will no longer apply so unless we get a deal, then no deal will happen,” Fox said at the World Economic Forum in Davos.

“Since the defeat of the government in its original proposals there has been a very strong impetus to work for a deal from those who are remain and those who are leave in the referendum,” he added.

Pressed on whether staying in a customs union with other EU countries would be better than leaving without a deal, Fox argued that attempts to share common trade rules wouldn’t satisfy the 2016 referendum result.

“I don’t think the customs union delivers what the people voted for,” he said before adding the “price would be very high and I think the democratic push back in the U.K. would also be very high.”

A customs union is an agreement that allows partaking countries to set common external tariffs, allowing goods to travel freely between those countries.

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