Jeremy Hunt is planning to ramp up preparations for a no-deal Brexit which will include a £6bn war chest for farmers and fishermen exporting to Europe. The Tory leadership candidate has set out a 10-point plan, including a Cobra-style committee to “turbocharge” Whitehall preparations and keep Britain open for business in the event of World Trade Organisation (WTO) tariffs coming into effect. Sky News
Stocks advanced, China’s renminbi strengthened and haven assets weakened on Monday, because of renewed hopes of a US-China trade deal after the leaders of the world’s two biggest economies agreed to resume negotiations following weeks of trepidation across global markets. Financial Times
Warren Buffett said he will donate $3.6 billion worth of Berkshire Hathaway shares to five foundations including the Bill & Melinda Gates Foundation. CNBC
HSBC has launched a lobbying effort to convince the Chinese government that it was not responsible for the arrest of Huawei’s finance director, as the bank tries to distance itself from the diplomatic row over China’s top telecoms equipment maker. Financial Times
Iran’s oil minister has warned that the future of Opec is in jeopardy over the growing dominance of Saudi Arabia and Russia in the cartel’s affairs. Financial Times
OPEC’s 14 member nations and a group of 10 countries led by Russia are gathering Monday and Tuesday for a high-stakes meeting in Vienna to discuss ways to balance the global oil market. Saudi Arabia—OPEC’s de facto leader—and Russia have already agreed to maintain the output cuts at current volumes, which run at around 1.2 million barrels a day. Market Watch
