Business news

• Coronavirus: Hancock’s £13.4bn debt ‘write-off’ for NHS could cost hospitals millions every year

  01-06-2020 22:52 via uk.finance.yahoo.com
  
  Matt Hancock’s promise to “write off” £13.4bn of debt owed by NHS trusts ahead of the worst of the coronavirus crisis could end up costing hospitals millions in annual payments back to the government, The Independent has learnt.Experts have warned that the way the government converted the billions of pounds owed by effectively insolvent NHS trusts will mean hospitals having to pay an annual charge on their assets back to the government in perpetuity.
  
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• Investor plans £15bn support for UK companies toiling with crisis loans

  01-06-2020 22:30
  British Growth Fund proposes state-backed scheme to aid indebted companies emerging from pandemic
  
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• U.S. Senate leader hopes for quick passage of House coronavirus small business bill

  01-06-2020 22:05 via uk.finance.yahoo.com
  
  U.S. Senate Majority Leader Mitch McConnell said on Monday he hoped the Senate would soon pass legislation already passed by the Democratic-controlled House of Representatives easing terms of the coronavirus small-business loan program."I hope and anticipate the Senate will soon take up and pass legislation that just passed the House, by an overwhelming vote of 417 to one, to further strengthen the Paycheck Protection Program so it continues working for small businesses that need our help," McCo
  
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• U.S. court refuses to shield VW in diesel scandal lawsuits

  01-06-2020 21:43 via uk.finance.yahoo.com
  
  The unanimous ruling by a three-judge panel of the 9th U.S. Circuit Court of Appeals, sitting in Anchorage, Alaska, was a victory for Utah's Salt Lake County and Florida's Hillsborough County.The counties sued VW for causing excess diesel emissions harmful to the environment and could in theory seek billions of dollars in damages.Volkswagen settled U.S. criminal and civil actions prompted by the cheating scandal for more than $20 billion, but that did not shield it from liability from local and
  
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• U.S. court refuses to shield Volkswagen in diesel scandal lawsuits

  01-06-2020 21:43 via uk.finance.yahoo.com
  
  The unanimous ruling by a three-judge panel of the 9th U.S. Circuit Court of Appeals, sitting in Anchorage, Alaska, was a victory for Utah's Salt Lake County and Florida's Hillsborough County in their litigation against VW.The counties sued VW for causing excess diesel emissions harmful to the environment and could in theory seek billions of dollars in damages.
  
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• Coronavirus Latest News: Lockdown Eased in Finland and Other Countries

  01-06-2020 21:34 via ibtimes.co.uk
  
  This year, America is marking the beginning of summer by reopening Nevada casinos. After being shut down since March, the casinos will open its doors to visitors on the 4th of June.
  
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• Ted Baker founder cuts stake by almost 40% in emergency funding bid

  01-06-2020 21:26 via uk.finance.yahoo.com
  
  Ted Baker founder cuts stake by almost 40% in emergency funding bid. Ray Kelvin hands control of fashion retailer to investor known as ‘the Rottweiler’
  
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• Ted Baker founder cuts stake by 55% in emergency funding bid

  01-06-2020 21:26 via uk.finance.yahoo.com
  
  Ted Baker founder cuts stake by 55% in emergency funding bid. Ray Kelvin hands control of fashion retailer to investor known as ‘the Rottweiler’
  
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• Shopper numbers jump 31% as lockdown in England relaxed

  01-06-2020 21:14 via uk.finance.yahoo.com
  
  Shopper numbers jump 31% as lockdown in England relaxedLong queues outside Ikea as retailers including car showrooms and markets reopen* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Facebook employees hold virtual walkout over Mark Zuckerberg's refusal to act against Trump

  01-06-2020 21:13 via uk.finance.yahoo.com
  
  Facebook employees hold virtual walkout over Mark Zuckerberg's refusal to act against TrumpWorkers express dissatisfaction with the company’s decision to not remove the president’s post which appeared to incite violence
  
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• PS5 event: Sony postpones new console reveal amid George Floyd protests

  01-06-2020 21:01 via uk.finance.yahoo.com
  
  Sony has postponed its PlayStation 5 event, where it was expected to reveal new details about the console, amid protests across the US.The hour-long event had been scheduled for 4 June, but Sony said holding it would be inappropriate given the protests engulfing the country.
  
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• Moves to soften UK quarantine plans amid Tory anger

  01-06-2020 20:46
  Arrivals from some countries could be exempt from self-isolation rules for fear of damage to travel industry
  
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• Johnson looks to soften UK quarantine amid Tory anger

  01-06-2020 20:46
  Arrivals from some countries could be exempt from self-isolation rules for fear of damage to travel industry
  
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• Marriott opens all hotels in China, sees steady U.S. recovery, CEO says

  01-06-2020 20:35 via uk.finance.yahoo.com
  
  Shares of the hotel operator, which owns the Ritz-Carlton and St. Regis luxury brands, rose as much as 8.1% to $95.64 in afternoon trading after Sorenson said the occupancy rate in China was 40% currently, up from 7% to 8% in February, when COVID-19 started spreading.In the United States, Marriott's hotels that remained open crossed the 20% occupancy threshold and continue to see an improvement, Sorenson said.
  
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• Reopened UK showrooms offer glimmer of hope for car industry

  01-06-2020 20:16
  Business is slow but dealers are confident demand will increase
  
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• Essex car showroom busy as dealerships reopen in England

  01-06-2020 20:06 via uk.finance.yahoo.com
  
  Essex car showroom busy as dealerships reopen in England. Firm reports ‘a lot of pent up demand’ but more interest in used vehicles than new ones
  
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• Putin and Trump discussed G7 summit, oil markets in call, says Kremlin

  01-06-2020 19:42 via uk.finance.yahoo.com
  
  U.S. President Donald Trump told President Vladimir Putin in a phone call about his idea of holding an expanded Group of Seven summit later this year with a possible invitation for Russia, the Kremlin said on Monday.Trump said on Saturday he would postpone a G7 summit he had hoped to hold next month until September or later and expand the list of invitees to include Australia, Russia, South Korea and India.Britain and Canada have since spoken out against the idea of readmitting Russia to a forum
  
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• Putin and Trump discussed G7 summit, oil markets in call, Kremlin says

  01-06-2020 19:42 via uk.finance.yahoo.com
  
  U.S. President Donald Trump told President Vladimir Putin in a phone call on Monday about his idea of holding an expanded Group of Seven summit later this year with a possible invitation for Russia, the Kremlin and the White House said.Trump said on Saturday he would postpone a G7 summit he had hoped to host next month until September or later and expand the list of invitees to include Australia, Russia, South Korea and India.A White House statement on the call said Trump and Putin discussed "pr
  
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• Yes, Australia's emissions are falling – but it's a hollow boast

  01-06-2020 19:30 via uk.finance.yahoo.com
  
  Yes, Australia's emissions are falling – but it's a hollow boastHad we continued on the path we were on from 2009 to 2013, things could have been so much better
  
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• NBN should consider buying fibre networks from Telstra, Labor says

  01-06-2020 19:30 via uk.finance.yahoo.com
  
  NBN should consider buying fibre networks from Telstra, Labor saysThe company recently announced it had raised an extra $4.1bn to be used for ‘strategic’ investments
  
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• GPs not warned of lockdown easing for ‘shielded’ groups

  01-06-2020 19:23
  Family doctors say additional freedoms were announced without any consultation
  
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• A disunited UK emerges from the lockdown

  01-06-2020 19:20
  The Westminster government has not carried other nations with it
  
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• UK manufacturing shows hint of recovery after coronavirus

  01-06-2020 19:13 via uk.finance.yahoo.com
  
  UK manufacturing shows hint of recovery after coronavirus. IHS Markit says worst of downturn is probably over after fall in factory output slows
  
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• One way please! Norwich Market reopens for business

  01-06-2020 19:09 via uk.finance.yahoo.com
  
  One way please! Norwich Market reopens for business. Historic trading site had been forced to close because of the coronavirus lockdown
  
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• Watchdog bars Manchester City ‘trading partner’ after investors lose large sums

  01-06-2020 19:05 via uk.finance.yahoo.com
  
  The firms had used fake endorsements from celebrities in their advertising.
  
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• Strong support for cutting trading hours at stock exchange, says LSE

  01-06-2020 18:47 via uk.finance.yahoo.com
  
  Strong support for cutting trading hours at stock exchange, says LSEMajority agree move would improve gender diversity and mental health, consultation finds
  
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• Holiday firm Parkdean ‘may run out of cash’ if lockdown is not lifted

  01-06-2020 18:47 via uk.finance.yahoo.com
  
  Britain’s biggest holiday park operator could run out of money within weeks unless the lockdown is lifted, analysts have warned. Parkdean Resorts is being squeezed by customers demanding refunds for holidays cancelled because of coronavirus, experts at credit agency Moody's said, with all of its 67 sites closed since Mar 23. The chain - which has been offering customers up to £150 if they will take a travel voucher instead of a cash refund in a battle to keep going - is hoping to re-
  
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• Cutting stock market hours may 'boost gender diversity'

  01-06-2020 18:47 via uk.finance.yahoo.com
  
  Cutting stock market hours may 'boost gender diversity'A public consultation by the LSE has found shorter days could help finance industry recruit more women
  
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• Del Vecchio seeks bigger Mediobanca stake

  01-06-2020 18:45 via uk.finance.yahoo.com
  
  Eyewear billionaire Leonardo Del Vecchio has requested clearance from the European Central Bank to double his stake in Mediobanca , raising the prospect of far-reaching changes in Italy's financial world.Mediobanca has not had a single non-banking shareholder owning more than 10% since it was founded in 1946.Del Vecchio's move has fuelled speculation his ultimate goal could be a shake-up involving Generali , Italy's biggest insurer in which Mediobanca is the single largest shareholder with 13%.
  
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• Markets grow as lockdown eases and US-China trade fears fall

  01-06-2020 18:43 via uk.finance.yahoo.com
  
  The FTSE 100 leading index of shares closed the day up 89.82 points, or 1.48%, at 6,166.42
  
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• Cutting edge: Japanese paper art inspires a non-slip shoe

  01-06-2020 18:42 via uk.finance.yahoo.com
  
  Cutting edge: Japanese paper art inspires a non-slip shoeScientists use kirigami techniques to create a sole with pop-up, high-friction spikes
  
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• Major Aston Martin shareholder cuts stake in British carmaker

  01-06-2020 18:31 via uk.finance.yahoo.com
  
  Italian private-equity firm Investindustrial Advisors Ltd disclosed a stake of 14.99% in Aston Martin as of May 29, compared with its previous stake of 19.92%.It was not immediately clear why the fund cut its stake.Investindustrial is the company's second-biggest shareholder after Canadian billionaire Lawrence Stroll, according to Refinitiv Eikon data.
  
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• Looking for safe havens with dividends? These FTSE 100 stocks are hard to beat!

  01-06-2020 18:31 via uk.finance.yahoo.com
  
  Looking to get rich from the FTSE 100 but at low risk? Royston Wild talks up two terrific income shares that could help you do that.The post Looking for safe havens with dividends? These FTSE 100 stocks are hard to beat! appeared first on The Motley Fool UK.
  
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• People flocking to Premium Bonds as savings rates tumble, analysis finds

  01-06-2020 18:21 via uk.finance.yahoo.com
  
  The Bank of England's base rate is currently at 0.1%.
  
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• U.S. manufacturing activity off 11-year low; construction spending falls

  01-06-2020 18:17 via uk.finance.yahoo.com
  
  U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.The Institute for Supply Management (ISM) said on Monday its index of national factory activity rose to a reading of 43.1 last month from 41.5 in April, which was the lowest level since April 2009.A reading below 50 indicates contraction in manufacturi
  
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• U.S. manufacturing activity crawls off 11-year low

  01-06-2020 18:17 via uk.finance.yahoo.com
  
  U.S. manufacturing activity eased off an 11-year low in May, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen, though the recovery from the COVID-19 crisis could take years because of high unemployment.The promising signs of stabilization in manufacturing reported by the Institute for Supply Management on Monday are a welcome respite as the country braces for data on Friday expected to show the worst unemployment rate since World War Two.Rampant jobl
  
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• Music business backs Black Out Tuesday campaign

  01-06-2020 18:09 via uk.finance.yahoo.com
  
  A slew of companies involved in the music business will halt normal activities on Tuesday to back TheShowMustBePaused campaign expressing support and solidarity for anti-racist protesters in the wake of George Floyd’s death in police custody in Minneapolis last week. The big three recorded music groups - Universal, Sony and Warner - have all said they will observe “Black Out Tuesday”, along with companies including Spotify, Live Nation, Kobalt, Downtown and London-listed Hipgno
  
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• Covid crisis to send government spending over £1 trillion for first time

  01-06-2020 18:05 via uk.finance.yahoo.com
  
  Public spending is set to rocket past £1 trillion for the first time this year as ministers pour taxpayer money into tackling the health and economic crises sparked by Covid-19. Economists expect the historic milestone to be passed due to a massive splurge to prevent a depression, with unprecedented support for jobs and businesses. Their prediction will be seized on by hawks in the Treasury who have called for brutal tax rises and spending cuts to balance the books. The cost of bailouts fo
  
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• Caravan advert views up 18% ahead of expected staycation boom

  01-06-2020 17:58 via uk.finance.yahoo.com
  
  Auto Trader expects demand for caravan holidays to 'almost match' hotel breaks this summer.
  
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• Want to buy a new car? Act fast before current stocks dry up

  01-06-2020 17:55 via uk.finance.yahoo.com
  
  With the word ‘recession’ ringing in everyone’s ears, you’d be forgiven for thinking that visiting one of the car showrooms that are set to open on June 1 and plonking down a deposit on a brand new car is the last thing on many people’s minds. But in fact, demand for new cars could be about to soar, as buyers who haven’t been able to swap out of their expiring Personal Contact Plans (PCP) finance deals in the last couple of months are finally able to do so. Th
  
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• Facebook staff revolt against Mark Zuckerberg's response to Trump protest posts

  01-06-2020 17:51 via uk.finance.yahoo.com
  
  Facebook’s hands-off response to Donald Trump’s posts raising the prospect of violence against US protesters has sparked a rare public revolt from its staff, who have accused Mark Zuckerberg of failing to enforce the company’s rules. Several employees criticised the social network’s refusal to follow Twitter in removing or labelling the US President’s Facebook posts, which called protesters “thugs” and warning that “when the looting starts, the sho
  
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• Facebook staff in 'virtual walkout' over Mark Zuckerberg's response to Trump protest posts

  01-06-2020 17:51 via uk.finance.yahoo.com
  
  Facebook staff protesting Mark Zuckerberg's response to posts by Donald Trump have staged a "virtual walkout" with employees calling in sick and many publicly criticising the company and its chief executive. Several employees attacked the social network’s refusal to follow Twitter in removing or labelling the US President’s Facebook posts, which called protesters “thugs” and warning that “when the looting starts, the shooting starts”. Facebook chief executive
  
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• Facebook says it wants staff to 'speak openly' as employees criticise Mark Zuckerberg's response to Trump posts

  01-06-2020 17:49 via uk.finance.yahoo.com
  
  Facebook has responded after its own employees publicly criticised its response to Donald Trump's controversial posts.The company opted to take no action against Facebook posts in which the president appeared to threaten protesters with being shot.
  
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• Market report: De La Rue jumps after booking deals

  01-06-2020 17:35 via uk.finance.yahoo.com
  
  A string of contract wins including a five-year agreement to supply pages for Australia’s new passport put a rocket under De La Rue shares on Monday. The specialist paper and security printed products maker – which has put in a dire market performance over recent years – jumped 79.25p to 120p, nearly tripling in value, as it hailed a “strong start” to its financial year. Under the agreement, De La Rue will produce polycarbonate data pages for the Australian passport
  
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• Dealers are open again - but who wants to buy a car?

  01-06-2020 17:34 via uk.finance.yahoo.com
  
  Thanks to the lifting of lockdown restrictions, car dealers reopened their doors to customers on Monday – but mainly by appointment to avoid overcrowding. Showrooms are generally spacious, making it fairly easy to adapt to social distancing measures such as one-way systems to control the flow of people. With 117 showrooms, Marshall Motors is one of the country’s biggest dealer groups. Daksh Gupta, chief executive of the business, toured several of the company’s outlets on the m
  
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• As car showrooms reopen, who is buying and how are dealers selling?

  01-06-2020 17:34 via uk.finance.yahoo.com
  
  Thanks to the lifting of lockdown restrictions, car dealers reopened their doors to customers on Monday – but mainly by appointment to avoid overcrowding. Showrooms are generally spacious, making it fairly easy to adapt to social distancing measures such as one-way systems to control the flow of people. With 117 showrooms, Marshall Motors is one of the country’s biggest dealer groups. Daksh Gupta, chief executive of the business, toured several of the company’s outlets on the m
  
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• Paedophile couple arrested for sexual abuse and torture of a minor

  01-06-2020 17:30 via ibtimes.co.uk
  
  The couple raped the child using various objects and cut his genitals using a knife.
  
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• Coronavirus: UK arm of shoe retailer Aldo collapses into administration

  01-06-2020 17:25 via uk.finance.yahoo.com
  
  Canadian shoe retailer Aldo has appointed financial services firm RSM as administrators of its UK division.
  
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• On the run: lack of sport drives fans to madcap world of marble racing

  01-06-2020 17:22 via uk.finance.yahoo.com
  
  On the run: lack of sport drives fans to madcap world of marble racingLockdown has been good for Jelle’s Marble Runs, with more than 1m YouTube subscribers * Coronavirus – latest updates* See all our coronavirus coverage
  
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• How I’d invest in this stock market crash to get rich and retire early

  01-06-2020 17:21 via uk.finance.yahoo.com
  
  Buying high-quality stocks at low prices after the market crash could enhance your portfolio returns and improve your prospects of retiring early.The post How I’d invest in this stock market crash to get rich and retire early appeared first on The Motley Fool UK.
  
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