Jan 15, 2020

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Mobile World Congress canceled amid Coronavirus concerns

Photo: Matthias Oesterle/Corbis via Getty Images

The organizers of the giant Mobile World Congress said Wednesday that they are canceling the event, which was set to take place at the end of the month, due to the coronavirus outbreak. Many key participants in recent days said they would not be attending.

Why it matters: The Barcelona event is the major trade show for the wireless business and a key gathering point for an industry that is spread all over the globe.

ZTE, LG drop conference plans over coronavirus concerns

The LG pavilion during the Mobile World Congress in 2019 in Barcelona, Spain. Photo: Joan Cros/NurPhoto via Getty Images

Two major telecom players — Korea's LG and China's ZTE — are scaling back their presence at the upcoming Mobile World Congress out of concerns related to the coronavirus outbreak.

Why it matters: Mobile World Congress, held at the end of February in Barcelona, is the key trade show for the cell phone industry, and its selling point is the way it brings a very global industry together in one place.

MBS's sovereign wealth fund could buy Newcastle United

Newcastle players during a training session. Photo: Serena Taylor/Newcastle United via Getty Images

An investment fund controlled by Saudi Crown Prince Mohammed bin Salman is in talks to buy U.K. Premier League soccer team Newcastle United F.C. for around $445 million.

Why it matters: MBS has been working to diversify Saudi Arabia's investments, with a focus on sports and entertainment. The sale could give Newcastle a fresh infusion of cash for fresh talent and renovated facilities, the Wall Street Journal writes.

Go deeperArrowJan 25, 2020