Edinburgh has been named as one of four UK cities which will be the first to receive O2's 5G network this year.

The Scottish capital joins London, Cardiff and Belfast, while other areas of the UK will see the roll-out from 2020 "to coincide with the wider availability of 5G handsets", the firm said.

Mark Evans, chief executive of O2's owner Telefónica UK, said that it will link up with firms and work to build a "5G economy" in coalition with industry, making the case for 5G in the UK and exploring the possibilities of the technology.

HeraldScotland:

Mixed and augmented reality uses are being developed

He said: "O2’s 5G network will arrive this year and we want the next-generation of mobile services to launch with a bang. 5G will benefit customers from launch, with better speeds and improved customer experience.

"Following the demand from our FTSE 100 trials, we are extending our testbed opportunities so that businesses of all sizes can work us to build the 5G Economy."

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He added: "Mobile is one of the UK’s most powerful opportunities to strengthen our economy and improve the lives of British people and 5G is a significant milestone for this nation.”

EE said earlier it will switch on 5G sites in 16 UK cities in 2019, including Edinburgh and Glasgow.

HeraldScotland: Purplebricks

Shares in Purplebricks tumbled by more than 30 per cent after the online estate agency cut its annual revenue guidance and announced the departure of the bosses of its UK and US units.

The company revised down its guidance for the 2019 financial year to between £130 million and £140m, compared with its initial forecast range of £165m to £175m, citing challenges in the US and Australia businesses.

Lee Wainwright, chief executive of the UK business, is to leave after two years with Purplebricks due to "personal reasons", and will be replaced in the interim by Vic Darvey, the group's chief operating officer who joined the business in January from MoneySuperMarket.com.

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Eric Eckardt, chief executive of the US business, will also leave the company after two years, with group chief executive and co-founder Michael Bruce taking on his responsibilities.

Purplebricks said there are a number of headwinds in the Australian housing and it does not expect to meet revenue forecasts for the year.

HeraldScotland:

Shares fell in BAE Systems after the defence giant warned that Germany's ban on selling arms to Saudi Arabia may affect its ability to provide combat aircraft support services to the kingdom.

At the end of last year BAE Systems reached a deal with Saudi Arabia to extend its support services for Eurofighter Typhoon combat aircraft.

The company said it is "reliant on the approval of export licences by a number of governments in order to continue supplies to Saudi Arabia".

"In this context, the position on export licensing currently adopted by the German government may affect the group's ability to provide the required capability to the kingdom."

Shares fell six per cent to 474p on the news.

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Meanwhile, the company posted a 14% rise in annual profits and said it expects earnings to grow in 2019.

Pre-tax profits came to £1.22 billion for 2018 compared with £1.07bn the previous year.

However, revenue slipped to £16.82bn from £17.22bn due to lower production of Typhoon aircraft.