Business news

• Meghan Markle and Prince Harry frustrated without social media handles?

  02-07-2020 07:44 via ibtimes.co.uk
  
  The Duke and Duchess of Sussex stopped using their Sussex Royal Instagram account in March.
  
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• Japan will cut bond issuance for FY2019 budget by $4.7 bln -sources

  02-07-2020 07:34 via uk.finance.yahoo.com
  
  Japan will issue 500 billion yen ($4.7 billion) less in bonds than it had planned for last fiscal year and instead tap reserves to fill tax revenue shortfalls caused by the coronavirus, several government sources said on Thursday.As the pandemic hit corporate profits, the government has revised down tax revenues for the fiscal year that ended in March to 58.4 trillion yen, from the 60.2 trillion yen estimated in December.The government will tap reserves and non-tax revenues to fill the shortfall
  
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• Traders thought Apple had 'the holy grail' of oil data, but the quest continues

  02-07-2020 07:10 via uk.finance.yahoo.com
  
  Every day, energy merchants collect and scrutinize whatever information they can find on fuel demand to get a trading edge: from satellite data tracking oil tankers worldwide to thermal images from cameras on pipelines and storage tanks.Real-time data on fuel demand would be the ultimate prize.Traders were chasing any clue to fathom the speed of recovery from the fastest and deepest collapse in fuel demand in history during coronavirus lockdowns.
  
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• Gwen Stefani and Blake Shelton planning for summer wedding

  02-07-2020 07:06 via ibtimes.co.uk
  
  Gwen Stefani and Blake Shelton met on the set of 'The Voice' in 2014.
  
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• Energy Transfer digs in on North Dakota pipeline expansion despite oil slump -sources

  02-07-2020 07:05 via uk.finance.yahoo.com
  
  U.S. pipeline company Energy Transfer  has taken the rare step of invoking force majeure - normally used in times of war or natural disaster - to prevent oil firms from walking away from a proposed expansion of the controversial Dakota Access pipeline, according to two sources familiar with the matter.Energy Transfer wants to nearly double the size of the line, and some companies that signed up say it is no longer necessary due to the sharp fall in U.S. oil production after the coronavirus
  
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• Goldman Sachs sees oil demand returning to pre-coronavirus levels by 2022

  02-07-2020 06:55 via uk.finance.yahoo.com
  
  While fuel demand is gradually recovering as lockdown measures ease, a second coronavirus wave could quickly undermine the trend, industry data showed last week.A Reuters poll on Tuesday estimated oil prices will consolidate at around $40 a barrel this year, with a recovery gaining steam in the fourth quarter and into 2021 on OPEC-led production cuts and as economies limp back from coronavirus lockdowns.
  
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• Judge lifts ban on 'tell-all' book by Trump's niece

  02-07-2020 06:46 via ibtimes.co.uk
  
  The ruling issued Wednesday allows publisher Simon & Schuster to print and distribute the 240-page book by Mary Trump.
  
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• Sheeran, Rolling Stones back urgent call to aid UK live music

  02-07-2020 06:38 via ibtimes.co.uk
  
  The live music industry wants a clear timeline for reopening venues without social distancing requirements, and government support.
  
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• Asia stocks rise as recovery signs offset new lockdowns

  02-07-2020 06:21 via ibtimes.co.uk
  
  Hong Kong led the gains on reopening after a one-day break, despite concerns about a new security law imposed on the city by China.
  
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• Record U.S. job growth expected in June, but masks labor market weakness

  02-07-2020 06:17 via uk.finance.yahoo.com
  
  The Labor Department's closely watched monthly employment report on Thursday would add to a stream of data, including consumer spending, showing a sharp rebound in activity.The impact of these decisions will not show up in the employment data as the government surveyed businesses in the middle of the month.
  
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• Dollar on defensive as investors await U.S. jobs data

  02-07-2020 06:09 via uk.finance.yahoo.com
  
  The dollar was on the defensive against more growth-sensitive currencies on Thursday, following upbeat U.S. and European economic data, though worries about the coronavirus blunted more aggressive risk taking ahead of upcoming U.S. jobs figures.Against a basket of currencies, the greenback slipped marginally and is tracking toward its worst week in a month, with a 0.4% fall - though it could shift significantly in either direction depending on U.S. jobs data due at 1230 GMT."Any reasonable react
  
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• Will Smith and Jada Pinkett Smith deny reports of her affair amid 'open marriage' rumours

  02-07-2020 06:08 via ibtimes.co.uk
  
  Their denial comes after rapper August Alsina claimed that Will Smith gave wife Jada Pinkett permission to have an affair with him.
  
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• Save if you must, but spending is just as important

  02-07-2020 06:00 via ft.com
  Why not support your local businesses if you can afford to?
  
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• US virus cases smash daily record as global infections soar

  02-07-2020 05:59 via ibtimes.co.uk
  
  Restaurants, bars and beaches in the world's worst-hit nation closed from California to Florida, as states reeling from yet another surge.
  
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• Staycation boom to boost Plymouth while London will suffer – research

  02-07-2020 05:30 via uk.finance.yahoo.com
  
  Hotel and tourism markets in the Isle of Wight, Exeter, Norwich, Blackpool and Cornwall will also be quick to recover, according to new research.
  
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• U.S., EU advocacy groups warn against Google's purchase of Fitbit

  02-07-2020 05:06 via uk.finance.yahoo.com
  
  Twenty advocacy groups from the United States, Europe, Latin America and elsewhere signed a statement Wednesday urging regulators to be wary of Google's $2.1 billion bid for fitness tracker company Fitbit Incbecause of privacy and competition concerns.The 20 organizations - which include the U.S.-based Public Citizen, Access Now from Europe and the Brazilian Institute of Consumer Defense - argued that the deal would expand the already considerable clout in digital markets of Alphabet Inc'sGoogle
  
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• Donald Brydon calls for urgent reform after Wirecard scandal

  02-07-2020 05:00 via ft.com
  Audit firms should have ‘obligation to find fraud rather than stumble over it’
  
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• Calls for green bank mount amid UK recovery plans

  02-07-2020 05:00 via ft.com
  Campaigners seek dedicated lender to help finance climate projects as part of infrastructure spending
  
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• Audit review head calls for urgent reform after Wirecard scandal

  02-07-2020 05:00 via ft.com
  Auditors should have ‘obligation to find fraud rather than stumble over it’, says Donald Brydon
  
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• American Airlines warns it's overstaffed by about 8,000 flight attendants

  02-07-2020 04:55 via uk.finance.yahoo.com
  
  The company will reduce its international and transcontinental crew to the minimum required by the Federal Aviation Administration, plus one flight attendant, effective from Oct. 1, 2020, Jill Surdek, American Airlines' vice-president of flight service, said in a letter to employees on Wednesday.U.S. carriers have warned that furloughs could take place in October, when the government payroll aid for the airline industry expires, but said they were hoping to avoid them.The company said it would i
  
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• Fuel demand shock threatens future of Australia's oil refineries

  02-07-2020 04:22 via uk.finance.yahoo.com
  
  A coronavirus-driven collapse in fuel demand is threatening Australia's oil refining industry, just as supply chain disruptions wrought by the pandemic have focused the government on the need to shore up fuel security.Already dependent on imports for more than half its fuel needs after the closure of four refineries since 2003, industry and analysts say at least one of the country's four remaining refineries could close unless the government steps in."When the global margin environment weakens a
  
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• Pub and bar bosses gear up for ‘historic day’ as reopenings near

  02-07-2020 03:45 via uk.finance.yahoo.com
  
  Thousands of pubs in England are expected to reopen their doors across the UK on July 4.
  
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• High Court to rule on who UK Government recognises as president of Venezuela

  02-07-2020 03:45 via uk.finance.yahoo.com
  
  The ruling is part of a battle to secure gold bullion in the vaults of the Bank of England.
  
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• Ex-Barclays boss due to give evidence in £1.6bn battle at High Court

  02-07-2020 03:45 via uk.finance.yahoo.com
  
  A private equity firm run by Amanda Staveley is suing the bank and wants £1.6 billion damages.
  
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• The rise of America's deadly 'boogaloo' extremists – and how they captured social media

  02-07-2020 03:24 via uk.finance.yahoo.com
  
  It was the evening of May 29, four days after the death of George Floyd, and the police had lost control of downtown Oakland. After months of lockdown, the diverse Californian city's once-vibrant main drag was suddenly full of billowing tear gas, burning debris and crowds of jubilant protesters building impromptu barricades. A few blocks away, barely noticed amid the din of choppers and pyrotechnics, a terrorist attack had just been committed. The murder of US federal agent Dave Patrick Underwoo
  
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• Sterling seen up 4% in a year on optimism for EU-UK trade deal - Reueters poll

  02-07-2020 03:16 via uk.finance.yahoo.com
  
  Sterling will gain towards the end of the year if Britain and the European Union (EU) thrash out a deal over future trade relations as most analysts expect, a Reuters poll found.The pound, down around 6.5% against the dollar this year, made some gains on Tuesday - largely due to end-of-quarter rebalancing rather than improvement in sentiment or reaction to Prime Minister Boris Johnson's plan to fast-track 5 billion pounds ($6.2 billion) of infrastructure investment.Cable was hovering around $1.2
  
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• Mark Zuckerberg says 'advertisers will be back soon enough' as he dismisses Facebook boycott

  02-07-2020 03:07 via uk.finance.yahoo.com
  
  Mark Zuckerberg has dismissed Facebook's ever-growing hate speech boycott as threatening "a small per cent" of the company's revenue and said advertisers will return "soon enough". In his most direct response to the boycott so far, Mr Zuckerberg vowed not to give in to its demands and said: “My guess is that all these advertisers will be back on the platform soon enough.” The remarks, first reported by the Silicon Valley news website The Information, were given last week at a private
  
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• Dollar on defensive as upbeat data dulls safe-haven appeal

  02-07-2020 02:58 via uk.finance.yahoo.com
  
  The dollar was on the defensive against more growth-sensitive currencies on Thursday, following upbeat U.S. and European economic data but renewed worries about the coronavirus blunted more aggressive risk taking.The market sentiment gained an additional boost from the news that a COVID-19 vaccine developed by German biotech firm BioNTechand U.S. pharmaceutical giant Pfizerhas shown potential and was found to be well tolerated in early-stage human trials.
  
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• Mercosur leaders look to close EU deal despite Macron's resistance

  02-07-2020 02:56 via uk.finance.yahoo.com
  
  Mercosur ministers reported progress on the final text of a trade agreement with the European Union on Wednesday on the eve of a summit meeting overshadowed by French President Emmanuel Macron's latest comments against the deal.Leaders of the South American trade bloc will hold a virtual summit on Thursday and are expected to discuss the COVID-19 pandemic, trade deals with Canada, Singapore, South Korea and start to review adjustments to their common external tariff.Brazilian Foreign Minister Er
  
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• Asian stocks set to track U.S. gains but Hong Kong jitters weigh

  02-07-2020 02:19 via uk.finance.yahoo.com
  
  Asian stocks were set to track Wall Street gains on Thursday as investors cheered signs the global economy was emerging from its coronavirus hibernation although trade is likely to be choppy as fresh concerns about Hong Kong keep investors cautious.E-mini futures for the S&P 500edged 0.06% higher, while Australian S&P/ASX 200 futuresclimbed 0.71% and Japan's Nikkei 225 futuresrose 0.4%.Wall Street shrugged off the miss and ended Wednesday trading higher after key economic indicators show
  
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• Rolling Stones and Ed Sheeran back call to help live music venues

  02-07-2020 01:02 via ft.com
  Stars among over 1,500 artists seeking government support for the ‘R&D wing’ of the British music industry
  
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• UK should prioritise green projects to kickstart economy, says IMF

  02-07-2020 01:01 via uk.finance.yahoo.com
  
  UK should prioritise green projects to kickstart economy, says IMFChief economist tells committee that coronavirus recovery is an opportunity to create jobs and greener planet
  
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• UK aerospace industry could disappear unless Government acts – Unite

  02-07-2020 01:01 via uk.finance.yahoo.com
  
  Almost 12,000 aerospace job losses have been announced in recent months at some of the UK's biggest companies, union research shows.
  
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• Three in 10 families with children ‘have struggled with bills in past week’

  02-07-2020 01:01 via uk.finance.yahoo.com
  
  The proportion of families with children at home who are struggling with bills is the highest since comparethemarket's research started 10 weeks ago.
  
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• Insurer Zurich publishes ethnicity pay gap figures

  02-07-2020 01:01 via uk.finance.yahoo.com
  
  Insurance group publishes its ethnicity pay gap figures as part of a pledge to tackle inequality in pay and remove barriers to career progression.
  
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• Finale risk: Rolling Stones, Lennox and McCartney among stars seeking music aid

  02-07-2020 01:01 via uk.finance.yahoo.com
  
  Finale risk: Rolling Stones, Lennox and McCartney among stars seeking music aid. Performers warn UK culture secretary of mass insolvencies as £4.5bn live music industry falters under Covid-19
  
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• Coronavirus: More than 12,000 jobs to be lost from high-street retailers and aviation companies hit by pandemic

  02-07-2020 00:18 via uk.finance.yahoo.com
  
  More than 12,000 jobs are set to be lost after a stream of high-street retailers and aviation companies announced cuts over the last two days due to the impact of the coronavirus pandemic.In retail, the John Lewis Partnership warned of store closures and job cuts, while luxury department store Harrods was reportedly set to lose about 700 staff members.
  
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• Tesla overtakes Toyota to become world's most valuable car maker

  02-07-2020 00:09 via uk.finance.yahoo.com
  
  Tesla has overtaken Toyota to become the world's most valuable car maker after its stock hit a record high.Shares in the electric car maker touched $1,134 on Wednesday, leaving it with a market value of $209.47bn (£165bn). This is about $6bn more than Toyota's stock market value.
  
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• U.S. House passes bill to sanction Chinese banks over Hong Kong

  01-07-2020 23:52 via uk.finance.yahoo.com
  
  The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement a national security law that House Speaker Nancy Pelosi called a "brutal, sweeping crackdown" on Hong Kong.The measure passed by unanimous consent, reflecting concern in Washington over China's enactment of a security law seen as ending the autonomy that allowed the former British colony to thrive as an international financial center.The U.S. Senate pass
  
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• U.S. regulator, Boeing complete 737 MAX certification test flights

  01-07-2020 23:42 via uk.finance.yahoo.com
  
  The Federal Aviation Administration and Boeing Cohave completed certification test flights on the 737 MAX, a key milestone toward the plane's return to service, the U.S. regulator said on Wednesday.The MAX has been grounded since March 2019 after two fatal crashes in five months killed 346 people."The agency is following a deliberate process and will take the time it needs to thoroughly review Boeing's work," the FAA said.
  
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• U.S. seeks Warhol, Monet paintings linked to 1MDB scandal

  01-07-2020 23:35 via uk.finance.yahoo.com
  
  The U.S. Department of Justice on Wednesday said it was looking to recover another $96 million in assets in real estate and artwork linked to the 1Malaysia Development Berhad (1MDB) international money-laundering conspiracy.The assets include luxury real estate in Paris and paintings by Claude Monet and Andy Warhol linked to the embezzlement of the 1MDB fund by Malaysian officials, the Justice Department said in a statement.The agency has so far recovered or assisted Malaysia in recovering nearl
  
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• Venezuela's oil exports sank in June to 77-year low - data

  01-07-2020 23:14 via uk.finance.yahoo.com
  
  The fall in oil exports has starved the socialist government of President Nicolas Maduro of its main source of revenue, contributing to an economic collapse in the OPEC nation and leaving authorities short of cash for essential imports such as food and medicine.Maduro has held onto power despite the sanctions, frustrating the administration of U.S. President Donald Trump.Washington and most Western democracies accuse Maduro of rigging a 2018 re-election vote.
  
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• In Brazil, deliverymen for Uber, other apps protest amid pandemic

  01-07-2020 21:47 via uk.finance.yahoo.com
  
  Over a thousand food deliverymen on motorcycles gathered in São Paulo on Wednesday to protest their work conditions, set by Uberand other apps, with their services in high demand due to coronavirus lockdowns.The drivers seek better pay and improved health measures, with Brazil now a coronavirus epicenter and delivery workers facing exposure to the virus.Drivers paraded through Sao Paulo's Paulista Avenue, the city's main thoroughfare, blocking traffic in one direction.
  
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• In Brazil, delivery drivers for Uber, Rappi and others protest amid pandemic

  01-07-2020 21:47 via uk.finance.yahoo.com
  
  More than a thousand food delivery drivers on motorcycles gathered in São Paulo on Wednesday to protest their work conditions, set by Uber Technologies Incand makers of other apps, as their services remain in high demand due to coronavirus lockdowns.The drivers seek better pay and improved health measures, with Brazil now a coronavirus epicenter and delivery workers facing exposure to the virus.Drivers paraded through Sao Paulo's Paulista Avenue, the city's main thoroughfare, blocking tra
  
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• More than 6,000 retail jobs cut from British high street in a day

  01-07-2020 21:27 via uk.finance.yahoo.com
  
  More than 6,000 retail jobs cut from British high street in a dayHarrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cuts* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Fears grow for UK high street as more than 6,000 retail jobs cut in a day

  01-07-2020 21:27 via uk.finance.yahoo.com
  
  Fears grow for UK high street as more than 6,000 retail jobs cut in a day. Harrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cuts
  
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• BioNTech and Pfizer's COVID-19 vaccine shows potential in human trial

  01-07-2020 21:16 via uk.finance.yahoo.com
  
  A COVID-19 vaccine developed by German biotech firm BioNTechand U.S. pharmaceutical giant Pfizerhas shown potential and was found to be well tolerated in early-stage human trials, the companies said on Wednesday.The potential treatment is the fourth early-stage COVID-19 drug to show promise in human testing, along with projects involving Moderna , CanSino Biologicsand Inovio Pharmaceuticals .BioNTech's shares were up about 8%, after rising as much as 19% to reach their highest in more than three
  
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• Trump backs new round of massive stimulus for US economy

  01-07-2020 21:04 via uk.finance.yahoo.com
  
  Donald Trump has said the US will launch a second round of the giant stimulus measures used to prop up the world's largest economy as it swoons from the effects of the virus. The US President said he wanted to send cheques to all taxpayers, after $300bn (£240bn) of direct payments were handed to households to boost consumer spending in the spring. "I do, I support it, but it has to be done properly," Mr Trump said when asked by Fox Business Network if he supported a second round of stimulu
  
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• Donald Trump backs new round of massive stimulus for US economy

  01-07-2020 21:04 via uk.finance.yahoo.com
  
  Donald Trump has said the US will launch a second round of the giant stimulus measures used to prop up the world's largest economy as it swoons from the effects of the virus. The US President said he wanted to send cheques to all taxpayers, after $300bn (£240bn) of direct payments were handed to households to boost consumer spending in the spring. "I do, I support it, but it has to be done properly," Mr Trump said when asked by Fox Business Network if he supported a second round of stimulu
  
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• As the Hong Kong security law comes into force, HSBC's silence is deafening

  01-07-2020 20:56 via uk.finance.yahoo.com
  
  As the Hong Kong security law comes into force, HSBC's silence is deafeningThe bank publicly backed China last month – so after 370 arrests in one day, ‘no comment’ is unlikely to cut it
  
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