Business news

• Luxury carmaker Bentley to cut about 1,000 jobs in UK amid virus outbreak, BBC reports

  04-06-2020 23:16 via uk.finance.yahoo.com
  
  The carmaker is likely to offer workers the chance to take voluntary redundancy, the report added.Bentley, founded in the UK in 1919, has restarted production at its northern English Crewe factory, where it builds thousands of luxury models.Earlier on Thursday, Aston Martin , another luxury carmaker, said it planned to shed 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels.
  
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• Union criticises BA after airline ‘spurns’ meeting with Home Secretary

  04-06-2020 23:14 via uk.finance.yahoo.com
  
  A Whitehall source said it was a 'shame' that one of the country's largest airlines had turned down the opportunity.
  
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• Broadcom's revenue forecast disappoints on possible Apple iPhone delay

  04-06-2020 23:00 via uk.finance.yahoo.com
  
  The company forecast fiscal third-quarter revenue of about $5.75 billion (4.5 billion pounds), plus or minus $150 million."We would normally expect to see a double-digit sequential uplift in revenue from the ramp of next-generation phone at our large North American mobile phone customer," Chief Executive Hock Tan said on a conference call.Tan cited a "major product cycle delay in wireless" without naming the customer, but Broadcom got about a fifth of its revenue from Apple in its most recent fi
  
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• Bank of England faces calls to overhaul 'restrictive' remit

  04-06-2020 23:00 via uk.finance.yahoo.com
  
  Bank of England faces calls to overhaul 'restrictive' remit. Move will accelerate recovery from coronavirus crisis, says Policy Exchange thinktank
  
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• Bentley: Luxury carmaker to cut up to 1,000 jobs

  04-06-2020 22:37 via bbc.co.uk
  
  The firm, which makes its cars in Crewe, says up to 1,000 jobs will go.
  
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• Prince Charles 'sad' to be away from family

  04-06-2020 22:16 via uk.finance.yahoo.com
  
  In an exclusive interview with Sky News, Prince Charles said it was "terribly sad" to be disconnected from family members during the lockdown, adding that he really wanted to "give them a hug".
  
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• AstraZeneca doubles capacity for potential Covid-19 vaccine to 2bn doses

  04-06-2020 22:13 via uk.finance.yahoo.com
  
  AstraZeneca doubles capacity for potential Covid-19 vaccine to 2bn dosesCompany will increase manufacturing capability after striking additional deal worth £595m* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Dividend-paying groups use BoE support facility

  04-06-2020 21:52
  Bank disclose list of companies benefiting from £16.2bn emergency scheme
  
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• Tesla's Elon Musk calls for breakup of Amazon in tweet

  04-06-2020 21:05 via uk.finance.yahoo.com
  
  "This is insane @JeffBezos," Musk tweeted at Amazon's chief.Both men are billionaires and oversee competing space exploration companies on top of their duties at Telsa and Amazon.Musk does not have legal authority to break up Amazon.
  
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• 10-week wait on glasses for 12,000 Boots customers

  04-06-2020 20:50 via uk.finance.yahoo.com
  
  10-week wait on glasses for 12,000 Boots customersThousands faced extensive wait for eyewear after retailer shut 549 opticians outlets due to lockdown
  
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• 'Stay at home stock' Slack Technologies dips ahead of report

  04-06-2020 20:30 via uk.finance.yahoo.com
  
  "The biggest risk to Slack in our view is that the good news is 'already out there'," warned Canaccord Genuity analyst David Hynes in a recent client note, maintaining his "buy" rating on the stock.In Slack's report after the bell, analysts on average expect a 39.5% jump in quarterly revenue to $188 million (149 million pounds) and a non-GAAP loss of 6 cents per share, according to Refinitiv.Slack is trading at the equivalent of 23 times its expected 12-month sales, according to Refinitiv, an un
  
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• Southend Airport owner Stobart Group to raise extra £120m

  04-06-2020 20:19 via uk.finance.yahoo.com
  
  The company revealed it took a £54 million hit from the collapse of Flybe, which it owned with Cyrus Capital and Virgin Atlantic.
  
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• Spanish Puig snaps up Charlotte Tilbury makeup empire

  04-06-2020 20:15 via uk.finance.yahoo.com
  
  Spanish Puig snaps up Charlotte Tilbury makeup empireBarcelona-based firm is thought to have fought off bids from Unilever, L’Oréal and Shiseido
  
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• Eni overhaul separates clean energy from oil and gas

  04-06-2020 20:03 via uk.finance.yahoo.com
  
  Italian oil major Enisaid on Thursday it was creating a division to focus on renewable energy, as part of a corporate reorganisation.The overhaul, which Reuters reported on Wednesday, follows industry-wide upheaval as the coronavirus pandemic has disrupted oil markets and sapped the earnings of oil and gas companies.Oil and gas activity at the state-controlled company will be in a separate unit, led by Alessandro Puliti, current head of upstream.
  
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• BA refuses to meet Home Secretary over quarantine plans

  04-06-2020 20:00 via bbc.co.uk
  
  The airline has declined to meet Priti Patel amid strong criticism of the UK's quarantine policy.
  
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• Trump to give agencies power to fast-track big infrastructure projects, sources say

  04-06-2020 19:56 via uk.finance.yahoo.com
  
  U.S. President Donald Trump on Thursday is expected to sign an executive order that would give federal agencies emergency powers to fast-track major infrastructure projects by overriding environmental permitting requirements, two sources familiar with the proposal said.The order is billed as a way to "support and accelerate" the economic recovery from the impacts of the coronavirus pandemic and improve U.S. energy and other infrastructure, according to bullet points summarizing the order seen by
  
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• AstraZeneca to ramp up supply of potential coronavirus vaccine to 2bn doses

  04-06-2020 19:50 via uk.finance.yahoo.com
  
  Britain’s biggest drugmaker will be able to supply 2bn doses of a potential coronavirus vaccine as early as September, double the previous amount it had planned to deliver. AstraZeneca said it will ramp up delivery after striking new deals to manufacture the vaccine, which is being developed by scientists at the University of Oxford. The firm has agreed to supply one billion doses of the jab to low and middle-income countries as part of a tie-up with the Serum Institute of India, the world
  
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• AstraZeneca to deliver 2bn doses of potential coronavirus vaccine

  04-06-2020 19:50 via uk.finance.yahoo.com
  
  Britain’s biggest drugmaker will be able to supply 2bn doses of a potential coronavirus vaccine as early as September, double the previous amount it had planned to deliver. AstraZeneca said it will ramp up delivery after striking new deals to manufacture the vaccine, which is being developed by scientists at the University of Oxford. The firm has agreed to supply one billion doses of the jab to low and middle-income countries as part of a tie-up with the Serum Institute of India, the world
  
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• Face masks to be made compulsory on public transport in England

  04-06-2020 19:43
  Passengers will have to wear coverings from June 15 as government approach hardens
  
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• Fallen Angels, the Frugal Four and Christine Lagarde. How the ECB may have saved your job today

  04-06-2020 19:27 via uk.finance.yahoo.com
  
  What did the European Central Bank do today?The ECB, under its newish boss Christine Lagarde, took a blunderbuss approach to protecting Europe’s economy in the face of the covid-19 economic crisis to come. It decided to launch a far bigger programme of bond buying “quantitative easing” than anybody had expected, opening the way to snap up a further e600 billion, taking the total to e1.35 trillion.
  
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• Travel industry fury as Grant Shapps says businesses should not be ‘hanging on to money’

  04-06-2020 19:25 via uk.finance.yahoo.com
  
  The travel industry has reacted with fury to the transport secretary’s warning that travel businesses should not be “hanging on to money” owned to customers.At the Downing Street daily briefing, Grant Shapps responded to a question from a member of the public, Charlotte from Coventry, about refunds following the cancellation of holidays
  
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• Pompeo calls Nasdaq's strict rules a model to guard against fraudulent Chinese companies

  04-06-2020 19:24 via uk.finance.yahoo.com
  
  U.S. Secretary of State Mike Pompeo on Thursday warned American investors against 'fraudulent' accounting practices of China-based companies and said the Nasdaq's recent decision to tighten listing rules for such players should be a model for all other exchanges around the world.It also represents the latest flashpoint in the relationship between Washington and Beijing at a time of escalating tensions between the world's two largest economies over trade, the coronavirus pandemic as well as a spa
  
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• Exclusive: Pompeo to urge stock exchanges globally to tighten rules for Chinese companies

  04-06-2020 19:24 via uk.finance.yahoo.com
  
  U.S. Secretary of State Mike Pompeo is set warn American investors on Thursday against 'fraudulent' accounting practices of China-based companies, and suggest the Nasdaq's recent decision to tighten listing rules for such players should be a model for all other exchanges around the world.President Donald Trump on Friday said his administration would begin the process of eliminating special U.S. treatment for Hong Kong to punish China, saying Beijing's move to impose new national security legisla
  
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• Exclusive: Pompeo calls Nasdaq's strict rules a model to guard against fraudulent Chinese companies

  04-06-2020 19:24 via uk.finance.yahoo.com
  
  U.S. Secretary of State Mike Pompeo on Thursday warned American investors against fraudulent accounting practices at China-based companies and said the Nasdaq's recent decision to tighten listing rules for such players should be "a model" for all other exchanges around the world.President Donald Trump issued a memorandum on Thursday calling for recommendations to be issued within 60 days to protect U.S. investors from what he said was China's failure to allow audits of U.S.-listed Chinese compan
  
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• Fasten your seat belt! Why I think the Aston Martin share price could go downhill from here

  04-06-2020 19:10 via uk.finance.yahoo.com
  
  The Aston Martin share price has rebounded from its bottom. But don’t get excited just yet, because things might yet get worse...The post Fasten your seat belt! Why I think the Aston Martin share price could go downhill from here appeared first on The Motley Fool UK.
  
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• Chemicals firm BASF biggest beneficiary of UK coronavirus loan scheme

  04-06-2020 19:10 via uk.finance.yahoo.com
  
  Chemicals firm BASF biggest beneficiary of UK coronavirus loan scheme. German company among large firms using government-backed funding to help weather fallout of pandemic
  
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• AstraZeneca targets two billion doses, poor countries with COVID vaccine deals

  04-06-2020 19:09 via uk.finance.yahoo.com
  
  The deals with epidemic response group CEPI and vaccine alliance GAVI are backed by the World Health Organisation and aim to quell concerns that the company was committing all initial supplies of the vaccine to the developed world.It is unclear if vaccines will work against the coronavirus but dozens of companies are in the race to develop one, and AstraZeneca's partnership with Oxford University is one of a handful to be backed so far by U.S. President Donald Trump's COVID task force.
  
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• AstraZeneca targets 2 billion doses, poor countries with COVID vaccine deals

  04-06-2020 19:09 via uk.finance.yahoo.com
  
  The deals with epidemic response group CEPI and vaccine alliance GAVI are backed by the World Health Organisation and aim to quell concerns that the company was committing all initial supplies of the vaccine to the developed world.It is unclear if vaccines will work against the coronavirus but dozens of companies are in the race to develop one, and AstraZeneca's partnership with Oxford University is one of a handful to be backed so far by U.S. President Donald Trump's COVID task force.
  
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• ECB agrees to inject additional €600bn into eurozone economy

  04-06-2020 19:04 via uk.finance.yahoo.com
  
  ECB agrees to inject additional €600bn into eurozone economy. The single currency bloc is facing the deepest recession in memory and unprecedented job losses
  
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• UK spy chief says no threat to Five Eyes alliance over Huawei

  04-06-2020 19:03 via uk.finance.yahoo.com
  
  Disagreements over China's Huawei Technologies do not pose a threat to intelligence-sharing ties between Britain and its allies, the head of the UK's GCHQ spy agency said in an interview released on Thursday.Britain granted Huawei a limited role in its 5G network in January, defying calls to ban the company over security concerns and U.S. threats to cut off valuable intelligence feeds with countries that use the Chinese firm's equipment.Prime Minister Boris Johnson has since come under renewed p
  
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• EDF, unions agree post-coronavirus return to work steps

  04-06-2020 18:57 via uk.finance.yahoo.com
  
  EDFhas agreed steps with unions to get parts of its business up and running again and will have to redouble its efforts to overcome the effects of the coronavirus crisis, CEO Jean-Bernard Lévy said in an electronic address to employees on Thursday.Containment measures have disrupted the maintenance of power plants and reduced demand for electricity, leading EDF to abandon its financial targets for this year and next and warn that French nuclear production will settle at its lowest level i
  
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• Now is not the time to take away British Airways' landing slots, says former minister

  04-06-2020 18:54 via uk.finance.yahoo.com
  
  The Government's threat to strip British Airways of landing slots has been called into question in the latest twist in a row between ministers and the country's flag carrier. Kelly Tolhurst, the aviation minister, raised the prospect of retaliation over BA's controversial use of the taxpayer-backed furlough scheme at the same time that the company makes up to 12,000 staff redundant. While admitting ministers currently have no jurisdiction to intervene in the distribution of airport slots –
  
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• Soaring airlines fail to rescue London’s top market from a drop

  04-06-2020 18:38 via uk.finance.yahoo.com
  
  The FTSE 100 lost 40.97 points to 6341.44.
  
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• Face coverings to be mandatory on public transport

  04-06-2020 18:37 via uk.finance.yahoo.com
  
  The Government says they are 'marginally beneficial as a precautionary measure'.
  
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• Young’s boss: Halve the 2 metre social distancing rule for pubs

  04-06-2020 18:14 via uk.finance.yahoo.com
  
  Patrick Dardis, the chief executive of pub company Young’s, on Thursday called on the government to “move swiftly” and relax social distancing for venues like his, to one metre, in line with World Health Organisation (WHO) guidelines.Pub owners, which had to shut sites in March when the lockdown came in, are working towards reopening from next month, and seeking more details on social distancing plans.
  
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• Chris Patten hits out at China as HSBC row escalates

  04-06-2020 18:10 via uk.finance.yahoo.com
  
  The last British governor of Hong Kong has accused China of using "mafia"-style tactics to bully British banks into backing a controversial new security law that will stifle dissent. Chris Patten hit out at Beijing's cheerleaders for trying to force Western companies into line, amid growing criticism of HSBC and Standard Chartered for backing the law. Lord Patten would not comment specifically on the banks' decisions. But he said: "It's a bit like dealing with the mafia and I sympathise with peo
  
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• Chris Patten accuses China of 'mafia'-style tactics as HSBC row escalates

  04-06-2020 18:10 via uk.finance.yahoo.com
  
  The last British governor of Hong Kong has accused China of using "mafia"-style tactics to bully British banks into backing a controversial new security law that will stifle dissent. Chris Patten hit out at Beijing's cheerleaders for trying to force Western companies into line, amid growing criticism of HSBC and Standard Chartered for backing a draconian crackdown on the territory's freedom. Lord Patten would not comment specifically on the banks' decisions. But he said: "It's a bit like dealing
  
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• UK leaves door open to imports of US chlorine-washed chicken

  04-06-2020 18:04
  Plan would include tariffs to protect British farmers as part of effort to secure trade deal
  
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• Will the Direct Line Insurance share price run continue?

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  In this article we will quickly re-cap the broker forecasts for Direct Line Insurance (LON:DLG). The Direct Line Insurance share price has risen by 7.19% over...
  
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• The Iwg share price – where next?

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Iwg (LON:IWG) share price has risen by 44.6% over the past month and it’s currently trading at 289.4. For investors considering whether to buy, hold or sel...
  
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• The Blue Prism share price – where next?

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Blue Prism (LON:PRSM) share price has risen by 9.44% over the past month and it’s currently trading at 1272. For investors considering whether to buy, hold...
  
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• Brokers upbeat on Sse despite economic uncertainty

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Sse (LON:SSE) share price has risen by 6.45% over the past month and it’s currently trading at 1267.5. For investors considering whether to buy, hold or se...
  
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• Brokers upbeat on J D Wetherspoon despite economic uncertainty

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The J D Wetherspoon (LON:JDW) share price has risen by 24.4% over the past month and it’s currently trading at 1146. For investors considering whether to buy,...
  
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• Brokers upbeat on Centrica despite economic uncertainty

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Centrica (LON:CNA) share price has risen by 2.58% over the past month and it’s currently trading at 39.43. For investors considering whether to buy, hold o...
  
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• Brokers bullish on Intercontinental Hotels shares

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Intercontinental Hotels (LON:IHG) share price has risen by 23.7% over the past month and it’s currently trading at 4106. For investors considering whether...
  
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• Analysts upbeat on the outlook for Workspace

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Workspace (LON:WKP) share price has risen by 13.5% over the past month and it’s currently trading at 789.5. For investors considering whether to buy, hold...
  
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• Analysts optimistic on Whitbread outlook

  04-06-2020 18:01 via uk.finance.yahoo.com
  
  The Whitbread (LON:WTB) share price has risen by 7.48% over the past month and it’s currently trading at 2525. For investors considering whether to buy, hold o...
  
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• Will the Draper Esprit share price run continue?

  04-06-2020 18:00 via uk.finance.yahoo.com
  
  In this article we will quickly re-cap the broker forecasts for Draper Esprit (LON:GROW). The Draper Esprit share price has risen by 31.3% over the past month...
  
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• What does the future hold for the G4s share price?

  04-06-2020 18:00 via uk.finance.yahoo.com
  
  The G4s (LON:GFS) share price has risen by 1.52% over the past month and it’s currently trading at 105.5. For investors considering whether to buy, hold or sel...
  
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• Upbeat broker recommendations for Oxford Instruments

  04-06-2020 18:00 via uk.finance.yahoo.com
  
  The Oxford Instruments (LON:OXIG) share price has risen by 1.45% over the past month and it’s currently trading at 1266. For investors considering whether to b...
  
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