Business news - NewsLocker

Zoom booms as pandemic drives millions to video service

02-06-2020 23:45 via uk.finance.yahoo.com

The California company's revenue for its fiscal first-quarter more than doubled from the same time last year.

Read more
Lyft says May rides jump 26% from prior month

02-06-2020 23:35 via uk.finance.yahoo.com

Lyft's shares rose 4.2% to $33.02 in extended trading after the company said rides had risen week-over-week for seven consecutive weeks since the week ended April 12."For the last three weekends, as restrictions on certain activities were eased in parts of the country, there was stronger relative sequential growth in weekend rides versus weekly rides on Lyft's rideshare platform," the company said.

Read more
Frankie & Benny's owner: Some sites won't reopen

02-06-2020 23:30 via bbc.co.uk

In an email seen by the BBC, the owner of the restaurant chain says that lockdown has hit trade.

Read more
LVMH's takeover of Tiffany seen as uncertain - WWD

02-06-2020 23:28 via uk.finance.yahoo.com

Tiffany's shares closed down nearly 9% after the news.LVMH's board called a meeting in Paris on Tuesday night to discuss the matter, WWD reported, citing sources.LVMH's board is concerned about the COVID-19 pandemic and protests linked to the death of George Floyd at the hands of Minneapolis police, according to the report.

Read more
Advertisement
Lockdown video calls send Zoom to 169pc revenue jump

02-06-2020 23:22 via uk.finance.yahoo.com

The rise of video app Zoom as a hub for lockdown conference calls, virtual pub quizzes and Cabinet meetings has sent the company's revenues soaring in recent months. Zoom revealed that sales for the three months to the end of April had climbed by 169pc as hundreds of thousands of businesses signed up to the service. The US company has been one of the few winners of the coronavirus crisis, beating rival video calling services from Microsoft, Google and Facebook to become the de facto app for many

Read more
GM should emerge from pandemic with permanently lower costs, says CEO

02-06-2020 22:58 via uk.finance.yahoo.com

General Motors Coshould emerge from the coronavirus pandemic with a permanently reduced cost base after it scrambled to reduce its cash burn to withstand a two-month shutdown in North American production as part of efforts to halt the spread of COVID-19, its top executive said on Tuesday."We were quickly able to take out significant costs and we are being very conservative about what costs we turn back on," Chief Executive Officer Mary Barra said during an investor event with Credit Suisse."I be

Read more
US senator: Huawei 5G is like Soviets building west's submarines

02-06-2020 22:55 via uk.finance.yahoo.com

US senator: Huawei 5G is like Soviets building west's submarinesTom Cotton tells MPs the US will review intelligence sharing if firm’s kit is used

Read more
Zoom nearly doubles revenue forecast on remote-work boost, but costs rising

02-06-2020 22:49 via uk.finance.yahoo.com

Chief Financial Officer Kelly Steckelberg said the April peak usage of 300 million daily meeting participants declined slightly in May.Zoom company competes with Cisco Systems Inc'sWebex, Microsoft CorpTeams and Google'sMeet platform for paying customers, particularly enterprises, while offering a free version to consumers.While Zoom's revenue increased sharply, its costs rose even more steeply.

Read more
Advertisement
Zoom doubles forecast for full-year revenue on remote-work boost

02-06-2020 22:49 via uk.finance.yahoo.com

Shares of the San Jose, California-based company rose nearly 5% in extended trading after Zoom's revenue and profit for the first quarter also beat estimates by a wide margin.The company competes with Cisco Systems Inc'sWebex, Microsoft CorpTeams and Google'sMeet platform for paying customers, particularly enterprises, while offering a free version to consumers.While Zoom's revenue increased sharply, its costs rose even more steeply.

Read more
Social media users criticised for using George Floyd protests as photo-ops

02-06-2020 22:46 via uk.finance.yahoo.com

Social media has become a vital channel for spreading footage and information about the George Floyd protests taking place across the US, with many sharing blackout posts in solidarity with demonstrators. But some influencers have been criticised for faking participation in the protests and subsequent clean-up efforts, or capitalising on the Black Lives Matter movement. Last week millionaire YouTuber Jake Paul appeared in videos in an Arizona mall which was in the process of being looted, sparki

Read more
Twitter names former Google CFO as chairman

02-06-2020 22:43 via uk.finance.yahoo.com

Pichette had been the lead independent director on Twitter's board since the end of 2018.The appointment comes at a time when Twitter has drawn the ire of President Donald Trump after it added a fact-checking tag to two previous tweets.Twitter has also said his tweets on the Minneapolis protests had breached rules about "glorifying violence."

Read more
Coronavirus: Adelie Foods to close with 2,000 jobs lost

02-06-2020 22:30 via bbc.co.uk

Administrators say Adelie Foods was affected by the coronavirus lockdown and rescue talks had failed.

Read more
Wells Fargo stops giving loans to most independent car dealerships

02-06-2020 22:21 via uk.finance.yahoo.com

"We are doing everything we can to help customers weather the economic impacts of this health crisis ... we also have an obligation to review our business practices in light of the economic uncertainty presented by COVID-19," the spokeswoman said in an email.Wells Fargo has let the majority of its independent dealership customers know that it will suspend accepting loan applications, the spokeswoman said, adding that the bank will continue doing business with customers with whom it has "deep, lo

Read more
Tech advocacy group's lawsuit says Trump's order on social media is unconstitutional

02-06-2020 21:53 via uk.finance.yahoo.com

An advocacy group backed by the tech industry filed a lawsuit on Tuesday against President Donald Trump's executive order on social media, as U.S. technology companies have been fighting White House efforts to weaken a law that protects them.The Washington-based Center for Democracy & Technology said in its lawsuit that Trump's executive order violates the First Amendment rights of social media companies.It noted that the order was issued after Twitter Incamended one of Trump's tweets and ca

Read more
Center for Democracy and Technology files lawsuit against Trump's executive order on social media

02-06-2020 21:53 via uk.finance.yahoo.com

The Washington-based Center for Democracy and Technology filed a lawsuit on Tuesday against U.S. President Donald Trump's executive order on social media, arguing it violates the First Amendment.The consumer advocacy group backed by large American technology companies said the executive order is "plainly retaliatory" for attacking Twitter Inc .Last week, President Trump said he will introduce legislation that may scrap or weaken a law that has protected internet companies, including Twitter and

Read more
After Facebook staff walkout, Zuckerberg defends no warning label on Trump posts

02-06-2020 21:32 via uk.finance.yahoo.com

FacebookCEO Mark Zuckerberg told employees on Tuesday that he stood by his decision not to challenge inflammatory posts by U.S. President Donald Trump, refusing to give ground a day after staff members staged a rare public protest.A group of Facebook employees - nearly all of them working at home due to the coronavirus pandemic - walked off the job on Monday, complaining their company should have placed a warning label on Trump's tweet about protests containing the phrase "when the looting start

Read more
After Facebook staff walkout, Zuckerberg defends no action on Trump posts

02-06-2020 21:32 via uk.finance.yahoo.com

FacebookCEO Mark Zuckerberg told employees on Tuesday that he stood by his decision not to challenge inflammatory posts by U.S. President Donald Trump, refusing to give ground a day after staff members staged a rare public protest.Zuckerberg told employees Facebook had conducted a thorough review and was right to leave the posts unchallenged, a company spokeswoman said.On Friday, Twitter Incaffixed a warning label to a Trump tweet about widespread protests over the death of a black man in Minnes

Read more
Freeze UK sales of riot gear to US police amid protest violence, says Thornberry

02-06-2020 21:20 via uk.finance.yahoo.com

British businesses wanting to export arms need a Government licence.

Read more
US opens investigation into Britain's digital tax on tech giants

02-06-2020 21:15 via uk.finance.yahoo.com

The White House has taken a step towards retaliating against Britain’s tax on tech giants, opening a trade investigation into several countries’ plans to make companies such as Facebook and Amazon pay more in local markets. Robert Lighthizer, the US trade representative, announced a “Section 301” investigation into the UK, Italy, Spain and the EU as a whole, among several other countries, saying plans for digital taxes would “unfairly target” American companie

Read more
U.S. board urges helicopter manufacturers to add crash-data recorders

02-06-2020 20:23 via uk.finance.yahoo.com

The National Transportation Safety Board (NTSB) on Tuesday urged six major manufacturers to equip turbine-powered helicopters with crash-resistant systems to record data, audio and images, after former NBA star Kobe Bryant and eight others were killed in a helicopter crash in January.The NTSB asked Airbus Helicopters, Bell - a unit of Textron Inc Leonardo, MD Helicopters, Robinson Helicopter Co and Sikorsky, a unit of Lockheed Martin Corp – to act after U.S. regulators have not backed mand

Read more
EasyJet ejected from the UK's list of top companies

02-06-2020 20:19 via bbc.co.uk

The airline loses its place on the prestigious FTSE 100 as Covid-19 hits travel and tourism shares.

Read more
P&O Cruises extends sailings suspension until October

02-06-2020 20:05 via uk.finance.yahoo.com

P&O; Cruises has admitted it will not set sail again until October 15 as the coronavirus pandemic continues to rip into the travel and leisure industries. The Southampton-based company, which is part of the Carnival group, had previously paused operations until the end of July and was hoping to resume sailings from August. Paul Ludlow, the president of P&O; Cruises, said in a video update: “As the world continues to adapt to this global crisis, we have made the decision to extend o

Read more
Questor: after a near 40pc gain in six weeks, we’ll pocket our winnings and sell Barclays

02-06-2020 19:30 via uk.finance.yahoo.com

Rarely does this column tip a stock and advise its sale only six weeks later. But today we put our preference for long-term investing to one side to bank a 38pc profit on a share we rated a buy in late April. That share is Barclays and the reason for its sale, apart from a very handsome return in such a short period, is that the stock has performed exactly as we hoped but perhaps more quickly than we expected. Our point when we tipped Barclays was that, by sending its share price down to the sam

Read more
Greece's quarantine-free holiday offer to Australians sounds too good to be true – and it is

02-06-2020 19:30 via uk.finance.yahoo.com

Greece's quarantine-free holiday offer to Australians sounds too good to be true – and it isEven the Greek ambassador acknowledges his country’s travel offer breaches Australia’s Covid-19 restrictions

Read more
Spain says digital tax won't discriminate against countries as U.S. ups ante

02-06-2020 19:20 via uk.finance.yahoo.com

Spain's plans to tax tech companies' revenues does not discriminate against any country, a government source told Reuters on Tuesday after the United States opened a probe into such taxes or proposals by its various trading partners.The announcement of the U.S. "Section 301" investigation that could lead to punitive tariffs came just two days beforethe Spanish parliament was due to debate a proposal to tax revenues booked locally by tech giants such as Facebook , Alphabet Inc's Googleand Amazon.

Read more
Pubs and restaurants to face new restrictions when they reopen

02-06-2020 19:20

Hospitality sector will be one of last to relaunch following coronavirus lockdown

Read more
Exclusive: COVID-19 pushes Poland to accelerate exit from ailing coal - sources

02-06-2020 19:18 via uk.finance.yahoo.com

Poland, the European Union's biggest hard coal producer, is considering closing at least three mines in coming months as the coronavirus pandemic forces it to accelerate its exit from the sector, according to sources familiar with the matter.Poland, the only EU member to refuse to pledge to become climate neutral by 2050, has long had a close relationship with coal, which has historically been a pillar of its economy.The closures being looked at by the government include the Wujek mine, three in

Read more
Travelodge in £140m rent battle with landlords

02-06-2020 19:15 via uk.finance.yahoo.com

Travelodge will launch a radical overhaul of its business on Wednesday in a bid to force landlords to swallow rent cuts of more than £140m. The beleaguered hotel firm is hiring accountant Deloitte to oversee a company voluntary arrangement (CVA) with creditors, marking the latest twist in an acrimonious battle between Travelodge’s hedge fund shareholders and the owners of its hotel sites. Bosses plan to raise £100m of debt from bondholders, with shareholders injecting up to &po

Read more
German slump could be deeper than forecast, says economy minister

02-06-2020 19:15 via uk.finance.yahoo.com

Germany's economic downturn this year could be even sharper than previously expected, Economy Minister Peter Altmaier said on Tuesday.Neighbouring France earlier on Tuesday revised down its forecast.Finance Minister Bruno Le Maire said he expected the French economy to contract by 11% this year due to the coronavirus crisis and the nationwide lockdown to contain it.

Read more
Coronavirus: Row over BA staff future deepens

02-06-2020 19:07 via bbc.co.uk

The airline is in a tense standoff with unions over restructuring and redundancy plans.

Read more
Rental fleet collapse drags down U.S. vehicle sales

02-06-2020 18:58 via uk.finance.yahoo.com

The collapse of air travel has pushed big car rental companies to cancel orders for new vehicles, punching a hole in sales for nearly a dozen U.S. automakers' including the Big Three in Detroit.Hyundai Motor Co'sU.S. sales arm said Tuesday that its sales to fleets, including rental companies, fell by 79% in May, while retail sales grew by 5%.Automakers could lose up to 12% of their annual U.S. vehicle sales in 2020 as car rental companies slammed by the coronavirus pandemic slash fleets and rest

Read more
Britain, EU clash over financial market access - diplomats

02-06-2020 18:38 via uk.finance.yahoo.com

Britain wants binding commitments from the European Union on financial market access to avoid the country's finance industry suddenly being cut off from the bloc, a request Brussels has rejected, EU officials and diplomats said.Britain left the EU in January and a transition period ends in December, when future access for banks, insurers and asset managers will be based on "equivalence," a limited form of access used by the United States, Japan and Singapore.Brussels grants market access to any

Read more
Swiss carbon capture startup raises £64m

02-06-2020 18:35 via uk.finance.yahoo.com

A Swiss startup has raised millions of pounds to fight climate change by capturing greenhouses gases in the air, in what the company said was the largest investment of its kind. Climeworks, based in Zurich, attracted £64m in a private funding round to ramp up its production of devices that take carbon dioxide directly from the atmosphere. Nearly half the CO2 released by burning fossil fuels is not absorbed in plants and the oceans, scientists have found, instead remaining airborne where it

Read more
UK electricity coal free for first month ever

02-06-2020 18:25 via uk.finance.yahoo.com

UK electricity coal free for first month ever. Coronavirus slump and sunniest spring on record send green energy soaring

Read more
China is using Huawei to drive a wedge in the UK-U.S. special relationship, U.S. senator says

02-06-2020 18:19 via uk.finance.yahoo.com

China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday.Cotton is one of several members of the U.S. Congress who have sought to put pressure on Britain to reverse its January decision to give China's Huawei a limited role in building Britain's 5G networks.

Read more
China is using Huawei to drive a wedge in the UK-U.S. special relationship - senator

02-06-2020 18:19 via uk.finance.yahoo.com

China is using telecoms giant Huawei to try to drive a wedge between Britain and the United States, Republican senator Tom Cotton told British lawmakers on Tuesday.Cotton is one of several members of the U.S. Congress who have sought to put pressure on Britain to reverse its January decision to give China's Huawei Technologies a limited role in building Britian's next-generation 5G networks.

Read more
The Novacyt share price has 20-bagged in 2020. Is there still time to buy?

02-06-2020 18:13 via uk.finance.yahoo.com

The Novacyt share price is flying as sales of Covid-19 tests soar. Alan Oscroft asks if the share price represents good long-term value.The post The Novacyt share price has 20-bagged in 2020. Is there still time to buy? appeared first on The Motley Fool UK.

Read more
Why lockdown has turned outdoor swimming pools from costly extravagance to prime property essential

02-06-2020 18:10 via uk.finance.yahoo.com

Forget last summer’s rush on inflatable pink flamingos for the paddling pool. This year’s perfect storm of lockdown, heatwave and a total lack of holidays on the horizon is seeing wealthy homeowners really splash out and call in the pool designers. Those in the poshest parts of the Home Counties, however, shouldn’t bank on splicing through their own aquamarine waters any time soon. Swimming pool contractors are reportedly rushed off their feet for the next few months. “We

Read more
No major conditions on Renault's state-backed loan, chairman says

02-06-2020 18:09 via uk.finance.yahoo.com

France has not attached any major conditions to a 5 billion euro state-backed loan for Renault, the carmaker's chairman said on Tuesday, although the finance minister called on the company to hold "exemplary" talks with unions.Renaultlast week unveiled plans to cut about 15,000 jobs worldwide, including 4,600 in France where the company will seek voluntary departures and use retirement schemes.The announcement sparked weekend protests at some factories, including at Maubeuge in northern France,

Read more
Met Police target County Lines drug dealers during lockdown

02-06-2020 18:04 via uk.finance.yahoo.com

Deputy Assistant Commissioner Graham McNulty says the Metropolitan Police has used the Covid-19 lockdown as an opportunity to target County Lines drug dealers.

Read more
What next for Tesco after its changing of the guard?

02-06-2020 18:02 via uk.finance.yahoo.com

Six years ago, Tesco’s boss Dave Lewis had to call Marc Bolland, then chief executive of Marks & Spencer, to ask for Alan Stewart to be released early from gardening leave. Bolland agreed and Stewart joined as finance chief a day after the supermarket chain had to admit it inflated its profits by £250m – its darkest hour. Stewart is now off, only seven months after Lewis said he was stepping down. In tandem, the two effectively revived Tesco. They offloaded parts of the bus

Read more
Forget Neil Woodford. I think these are the best UK stocks to buy today

02-06-2020 17:58 via uk.finance.yahoo.com

It's more than a year since Neil Woodford shut down his Equity Income Fund. Roland Head picks three value stocks he'd buy with cash from the fund.The post Forget Neil Woodford. I think these are the best UK stocks to buy today appeared first on The Motley Fool UK.

Read more
H&M closes U.S. stores amid protests, says it stands behind black community

02-06-2020 17:56 via uk.finance.yahoo.com

H&M , the world's second-biggest fashion retailer, said on Tuesday it had temporarily closed 95 of its stores in the United States because of the violent protests following the death of George Floyd in police custody."We have closed 95 stores temporarily due to the protests," an H&M spokesman told Reuters.

Read more
Former Flybe owner leads race to buy Virgin Australia

02-06-2020 17:52 via uk.finance.yahoo.com

The biggest backer of doomed airline Flybe is one of two frontrunners in the race to buy Virgin Australia out of administration. Cyrus Capital has been shortlisted to take over the stricken company alongside Bain Capital, the US buyout fund founded by former Republican US presidential candidate Mitt Romney. Virgin Australia went bust earlier in the coronavirus crisis after running out of cash following a collapse in global air travel, after frantic efforts by billionaire owner Sir Richard Branso

Read more
Spain plans levy on non-recyclable plastic packaging

02-06-2020 17:45 via uk.finance.yahoo.com

Spain aims to collect more than 700 million euros a year with a proposed new tax on non-recyclable plastic packaging, Spanish energy and environment minister Teresa Ribera said on Tuesday.The new levy, worth 0.45 euros per kilogram of packaging, is contained in a bill proposed by the government to help meet a European Union target of phasing out single-use plastic by 2021."This is a indirect tax which will be levied on the manufacturing, import or intra-EU acquisition of the non-reusable plastic

Read more
UK companies borrow £21bn through ‘bounce back’ loans

02-06-2020 17:44

Banks fear smaller businesses will struggle to repay debt, with up to half at risk of default

Read more
Daughter to serve two-year sentence for drunken attack on dad

02-06-2020 17:35 via ibtimes.co.uk

Manchester Crown Court heard that Claire Hindley had been physically abusive towards her elderly father on multiple occasions.

Read more
Warner Music leads New York float revival

02-06-2020 17:31 via uk.finance.yahoo.com

Warner Music will on Wednesday become the first big company to list in New York since the coronavirus pandemic struck, kickstarting a revival in stock market floats. The company - one of the world's big three recorded music groups - is set to price its shares at the upper end of the $23 to $26 range. A total of 70m shares will be sold when Warner goes public on Nasdaq, equal to about 14pc of the company. The fundraising will net some $1.8bn and value Warner at about $13bn (£10.2bn). It is

Read more
Global airport group says pandemic safety rules to lengthen pre-departure waits

02-06-2020 17:24 via uk.finance.yahoo.com

New global guidelines featuring physical distancing to restart aviation safely during the coronavirus pandemic could add up to two hours of pre-departure time for passengers at some airports during peak hours, the head of an international airports' group said on Tuesday."A large airport with low volume, they should not need much more time for the passenger to come to the airport to keep the physical distancing," Angela Gittens, director general of Airports Council International (ACI), told repor

Read more
I think this AIM stock will do well in a recession

02-06-2020 17:21 via uk.finance.yahoo.com

A stock that does well in a recession can provide services that are demanded more in uncertain times, and FRP Advisory Group does just that.The post I think this AIM stock will do well in a recession appeared first on The Motley Fool UK.

Read more

07 Jun 2020 06 Jun 2020 05 Jun 2020 04 Jun 2020 03 Jun 2020

02 Jun 2020

01 Jun 2020 31 May 2020 30 May 2020 29 May 2020 28 May 2020

Follow @Business_UKnews on Twitter!