Here are the top business, market, and economic stories you should be watching today in the UK, Europe and abroad:

European markets rebound

European stock markets were higher on Friday, rebounding from a calamitous session on Thursday that saw the FTSE 100 suffer its steepest fall since the Brexit referendum in 2016.

Asian markets and European borses fell on Thursday after the arrest of Huawei’s CFO in Canada sparked fears of renewed tensions between the US and China. US markets initially followed but recovered late in the session, helping Europe to open higher today.

Britain’s FTSE 100 (^FTSE) was 1.4% higher on Friday morning, Germany’s DAX (^GDAXI) was 0.8% higher, France’s CAC 40 (^FCHI) was up by 1.3%, and the Euronext 100 (^N100) was up by 1.5%.

In Asia, Japan’s Nikkei 225 (^N225) closed up 0.8%, Hong Kong’s Hang Seng index (^HSI) ended down by 0.3%, and China’s benchmark Shanghai Composite (000001.SS) closed flat.

Huawei makes changes in the UK to avoid ban

International pressure continues to mount on Huawei and the Chinese telecoms company has now been forced to make changes in Britain to avoid a ban.

The Financial Times reported that Huawei has agreed to a series of technical demands made by GCHQ’s National Cyber Security Centre this week. The FT reported that Huawei was being threatened with a ban from the UK’s next generation 5G infrastructure if it did not make the changes.

The concession comes amid sustained international pressure on Huawei. Australia and New Zealand have already instituted a similar 5G bans on Huawei, citing cyber security concerns. Reuters reported on Friday that Japan is also considering a ban.

Huawei’s CFO Meng Wangzhou was arrested this week in Canada and faces extradition to the US on charges of violating sanctions against Iran. Huawei said it had no knowledge of any wrongdoing and the Chinese government has called for her release.

RBS moves £13bn to the Netherlands in Brexit prep

Royal Bank of Scotland (RBS.L) is advancing plans to move billions of pounds worth of assets to the Netherlands next March if Britain crashes out of the European Union without a deal.

The state-controlled bank said it had applied to the courts to move £6 billion of assets and £7 billion of liabilities to its Dutch subsidiary NatWest Markets N.V.

The transfer of all the assets and liabilities will take place in March unless a deal is reached with the EU, and then could “be more gradual and subject to further political developments”, the bank said.

Bitcoin falls to fresh one-year low

Bitcoin has fallen to a fresh one-year low against both the dollar (BTC-USD) and the pound (BTC-GBP) after a decision on the launch of a bitcoin ETF was delayed.

Bitcoin was down by 2.1% against the dollar to $3,411.49 and down by 2.7% against the pound to £2,666.87 on Friday morning.

The latest slip comes after the US Securities and Exchange Commission on Thursday delayed an expected decision on whether to approve a bitcoin ETF until next February. Advocates hope an ETF (exchange traded fund) will widen the market and would therefore be bullish for the price.

“Having endured a torrid 2018 the selling pressure just builds and builds,” Neil Wilson, chief market analyst at Markets.com, said in a morning email on Friday. “This is bear steamroller and it is not wise to try to stand in front of it.”

What to expect in the US

US stock futures were pointing to a lower open. S&P 500 futures (ES=F) were down by 0.5%, Dow Jones Industrial Average futures (YM=F) were down by 0.5%, and Nasdaq futures (NQ=F) were down by 0.5%. The VIX volatility-tracking index (^VIX) was up by 7%.

The US jobs report on non-farm payrolls is due at 1.30pm (8.30am US time).

With files from Reuters