FTSE 100 LIVE: Pompeo warns global stock exchanges to crackdown on Chinese companies

He added the Nasdaq’s recent decision to impose listing rules on these should be a model for other global exchanges. Pompeo said in a statement: “The Trump administration is committed to ensuring that all American businesses and investors can operate on a level playing field with the rest of the world. “I applaud Nasdaq for requiring auditing firms to ensure all listed companies comply with international reporting and inspection standards.

“Nasdaq’s announcement is particularly important given a pattern of fraudulent accounting practices in China-based companies.” 

His comments come amid rising tensions in the relationship between Washington and Beijing over trade, as well as the handling of the coronavirus pandemic and most recently Hong Kong.

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6.11am update: Oil edges higher as traders eye producer talks on extending supply cuts

Oil prices nudged higher on Friday as traders await cues from a meeting that could take place as soon as this weekend where major oil producers will discuss whether to extend record production cuts.

Brent crude futures were up 20 cents, or 0.5 percent, at $40.19 a barrel as of 0419 GMT, while US West Texas Intermediate (WTI) crude futures were up 8 cents, or 0.2 percent, to $37.49 a barrel.

Brent has risen about 14 percent this week, while WTI is up nearly 6 percent, leaving benchmarks on track for a sixth week of gains.

The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a grouping known as OPEC+, will meet on Saturday to discuss extending output cuts, Algeria’s Ennahar TV channel reported on Friday, citing an OPEC source.

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