China iPhone curbs take £160bn bite out of Apple as rival Huawei launches comeback

News Snapshot:

Apple has seen around $200bn (£160bn) wiped off its value after China extended its curbs on iPhone use by government workers. Shares in the tech giant have tumbled by 6.4% over the last two days in response to Beijing ordering some state employees to stop using the devices. The move has fuelled fears Apple and its suppliers could pay a commercial price for continuing tensions between the US and China and growing competition from rival Huawei, which has just launched two new smartphones. The move comes just days before Apple is expected to launch its new iPhone 15. And it...