Business news

• Ministers target June 22 for reopening of England’s pubs and restaurants

  07-06-2020 23:13
  Outdoors-only move part of ‘save summer’ project for crippled hospitality industry
  
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• Huawei fights back against attacks over Britain’s 5G

  07-06-2020 23:07
  China telecoms supplier launches advertising campaign in response to Conservative criticisms
  
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• Manufacturers start to emerge from coronavirus lockdown, report suggests

  07-06-2020 23:00 via uk.finance.yahoo.com
  Firms regained some of their losses in May, said business advisers.
  
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• FTSE set to open lower despite more countries easing restrictions – live updates

  07-06-2020 22:56 via uk.finance.yahoo.com
  
  Lloyds chairman calls on state to take charge of toxic business loans FTSE 100 to open marginally lower Asian markets advanced overnight Ambrose Evans Pritchard: Germans fear the ECB is following the Weimar Reichsbank into an inflation trap
  
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• Flat owners seek Government help amid cladding row

  07-06-2020 22:18 via uk.finance.yahoo.com
  
  Hundreds of thousands of homeowners in flats with high-risk cladding are calling on the state to help them pay skyrocketing insurance premiums. Angry leaseholders are to confront ministers nearly three years after the hazards of the flammable panels were exposed when the Grenfell Tower fire killed 72 people, making properties fitted with them worthless overnight. Organisations including the UK Cladding Action Group have urged officials to help members struggling to get insurance. Without cover,
  
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• Closing Carluccio’s set to cost £1.2m

  07-06-2020 22:09 via uk.finance.yahoo.com
  
  Administrators overseeing failed restaurant firm Carluccio’s will collect an estimated £1.2m in fees while suppliers get nothing, Companies House documents show. The Italian chain was one of the earliest corporate victims of the Covid-19 crisis after a slump in trading from mid-March as the public was urged to stay away from pubs and restaurants before full lockdown was imposed. Carluccio’s, which had been owned by Dubai-based retailer Landmark since 2010, called in FRP Advisor
  
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• New £250m Ashford film studio to be pandemic-proof

  07-06-2020 21:50 via uk.finance.yahoo.com
  
  Temperature checks and regular coronavirus tests will be introduced at a Hollywood-style film studio in Kent after developers gave approval for measures to help the £250m site operate during future pandemics. The proposals are part of changes to the design and layout of Ashford, which is tipped to be the biggest facility of its kind when it opens in 2022, and aim to make the studio Covid-ready. A review comes as UK studios including Elstree and Twickenham open their doors to film and telev
  
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• Shell suspends operations in Argentina's Vaca Muerta area after seismic activity

  07-06-2020 21:40 via uk.finance.yahoo.com
  
  Oil company Royal Dutch Shell Plcsaid it has suspended operations at its Bajada de Añelo site in Argentina's Vaca Muerta area after seismic activity in the region.Shell, which operates the block along with local state oil firm YPF, said in a statement late on Saturday that the preventative suspension of activities came after seismic movements were registered in an area of Argentina's Neuquén province near the Andes mountains bordering on Chile.Shell operates other areas in Vaca Mue
  
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• Hackers who hit grid taunt Elexon with dark web files

  07-06-2020 21:29 via uk.finance.yahoo.com
  
  Hackers who shut down a critical part of the UK’s power grid in May are offering alleged stolen material on the dark web after successfully holding part of the network hostage. REvil, the group allegedly responsible for the hack, has posted a number of confidential documents – including passport copies and financial records – to a dedicated site on the dark web, claiming they are from network middleman Elexon. Elexon handles £1.7bn of transactions between power plant oper
  
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• Wirecard says it is cooperating with investigation, reiterates outlook

  07-06-2020 21:21 via uk.finance.yahoo.com
  
  Wirecardis cooperating with authorities investigating the German payments company over possible market manipulation, it said on Sunday as it reiterated its 2020 earnings outlook.Munich prosecutors on Friday said they had searched Wirecard's headquarters and opened proceedings against the company's entire management board as part of an investigation initiated by Germany's financial regulator BaFin.Wirecard faces allegations including accounting irregularities and disclosure violations, which it d
  
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• The UK and EU are facing the most extreme version of Brexit

  07-06-2020 20:38
  
  Political miscalculations have harmed negotiations that could well fail to secure a trade deal
  
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• Venezuela's new gasoline system fails to end epic lines

  07-06-2020 20:14 via uk.finance.yahoo.com
  
  Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price system aimed at easing an acute fuel shortage.Maduro on May 30 announced the new system in which motorists could purchase up to 120 liters (31.7 gallons) of gasoline at a heavily subsidized price of 5,000 bolivares (2.5 U.S. cents) per liter, and 50 U.S. cents per liter thereafter.While Venezuelans with resource
  
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• French aerospace crisis plan could total €10 billion - Les Echos

  07-06-2020 20:05 via uk.finance.yahoo.com
  
  A French emergency plan for the aerospace industry to be unveiled this week could be worth up to 10 billion euros (£8.91 billion), including an expected 1 billion euro investment fund,business newspaper Les Echos reported on Sunday.The plan, aimed at helping the sector recover from the fallout of the novel coronavirus pandemic that has slashed air travel, will comprise various measures including loan guarantees and support for research and development, Les Echos said.France's economy minis
  
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• Airbus asks Government to consider 'airline scrappage scheme'

  07-06-2020 19:44 via uk.finance.yahoo.com
  
  Airbus is calling on ministers to back an airliner scrappage scheme that it claims could save thousands of jobs following a global collapse in air travel. The pan-European plane maker has approached the Department for Business, Energy and Industrial Strategy (Beis) about a programme that would encourage carriers to buy new jets and take older, more polluting ones out of service. Several other European countries have already ordered bailed-out airlines to upgrade to more carbon-friendly fleets as
  
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• How Britain’s chancellor can support the recovery

  07-06-2020 19:38
  Rishi Sunak has an opportunity to change the economy for the better
  
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• Unions at ArcelorMittal's Ilva plant call strike over job plans

  07-06-2020 18:55 via uk.finance.yahoo.com
  
  Unions representing workers at the Ilva steel plant in southern Italy called a strike for Tuesday to protest at reported plans by ArcelorMittalfor thousands of job cuts at the struggling facility.The call by the FIM, FIOM and UILM unions came after Industry Minister Stefano Patuanelli accused the group of failing to respect the terms of a rescue agreement signed with the government in March.Under that agreement, ArcelorMittal agreed to suspend plans to walk away from the plant in the southern ci
  
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• Outsourcers to manage two new prisons in England

  07-06-2020 18:49
  Move comes despite renationalisation of the probation service
  
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• £36bn of government-backed loans will be toxic, taskforce warns

  07-06-2020 18:47 via uk.finance.yahoo.com
  
  £36bn of government-backed loans will be toxic, taskforce warnsReport finds businesses will have £97bn-£107bn worth of unsustainable debt by March
  
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• Lloyds chairman calls on state to take charge of toxic business loans

  07-06-2020 18:42 via uk.finance.yahoo.com
  
  One of Britain's top bankers has urged the Treasury to rapidly take responsibility for tens of billions of pounds of toxic business loans as lenders seek to free themselves of coronavirus debt. Lloyds chairman Norman Blackwell, a former policy chief to Margaret Thatcher and John Major, called on the government to set up a vehicle that will take on debts from some companies unable to repay their state-backed coronavirus loans. If it goes ahead the programme is likely to be compared to the so-call
  
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• UK airlines launch legal battle over Covid-19 quarantine ruling

  07-06-2020 18:41 via uk.finance.yahoo.com
  
  UK airlines launch legal battle over Covid-19 quarantine ruling. Bid to overturn ‘illogical’ restrictions comes amid anger at BA’s plans to sack staff
  
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• The story of AstraZeneca's relentless rise

  07-06-2020 18:27 via uk.finance.yahoo.com
  
  Founding a pharmaceutical titan in 1998, Sir David Barnes had a simple message. This would be “a merger of equals,” he said, where his company's British expertise would remain secure. Then chief executive of UK-based Zeneca Group, Sir David had struck an agreement to join forces with Swedish player Astra AB - fending off several other expressions of interest in the previous years as he waited to land the perfect partner. The headquarters of the new entity, named AstraZeneca, were to
  
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• Coronavirus: Emirates and Etihad Airways extend 50% pay cuts until September

  07-06-2020 18:26 via uk.finance.yahoo.com
  
  State owned Emirates and Etihad Airways extend 50% staff pay cut to end of September, according to leaked memo.
  
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• Thousands join anti-racism rally outside US embassy

  07-06-2020 17:55 via uk.finance.yahoo.com
  
  Thousands of protesters have joined an anti-racism rally outside the US embassy in London as Black Lives Matter demonstrations take place in cities across the UK.
  
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• Coronavirus: Channel 4 forecasts 40% advertising slump

  07-06-2020 17:27 via uk.finance.yahoo.com
  
  Channel 4 advertising sales are forecast to drop up to 40% by year end, according to boss Alex Mahon.
  
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• Back to the grind: historic mills boosted by flour shortage during Covid-19 lockdown

  07-06-2020 17:02 via uk.finance.yahoo.com
  
  Back to the grind: historic mills boosted by flour shortage during Covid-19 lockdownFaced by empty supermarket shelves, many shoppers are turning to traditional producers* Coronavirus – latest updates* See all our coronavirus coverage
  
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• San Antonio coach Gregg Popovich claims America is in trouble because of 'race'

  07-06-2020 16:48 via ibtimes.co.uk
  
  The San Antonio Spurs have been openly supporting the Black Lives Matter protests across America.
  
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• Oil's 'Sun King' Lord Browne shines a light on Britain's coronavirus response

  07-06-2020 16:44 via uk.finance.yahoo.com
  
  For a man who has spent almost three months cooped up at home, Lord Browne of Madingley looks surprisingly cheerful. “This is my sixth Zoom call today,” says the 72-year-old former chief executive of BP, with a grin. After months of bad news over Covid-19, economic turmoil and now violent protests across America, there is plenty to feel gloomy about, but Browne’s sunny outlook is infectious. “I remain an optimist in spite of the fact that we are beset with existential pro
  
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• Coronavirus: BA undermining job talks, says pilots’ union

  07-06-2020 16:29 via uk.finance.yahoo.com
  
  Pilots' union Balpa accused BA of undermining discussions over proposed job cuts after the airline said it will fire its entire pilot workforce and rehire them under new terms and conditions.
  
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• AstraZeneca mega-merger speculation dampened

  07-06-2020 16:19 via uk.finance.yahoo.com
  
  Industry sources played down claims that Covid vaccine maker Astrazenca could make a swoop for rival Gilead on Sunday following explosive reports the British-Swedish pharmaceutical giant had approached the US drugmaker about a £216bn mega-deal. Sources told Bloomberg that AstraZeneca, which is leading the global race to manufacture the first coronavirus vaccine in a partnership with Oxford University, had informally approached Gilead about a potential tie-up last month and Gilead discussed
  
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• AstraZeneca and Gilead mega-deal downplayed by sources

  07-06-2020 16:19 via uk.finance.yahoo.com
  
  Industry sources played down claims that Covid vaccine maker Astrazenca could make a swoop for rival Gilead on Sunday following explosive reports the British-Swedish pharmaceutical giant had approached the US drugmaker about a £216bn mega-deal. Sources told Bloomberg that AstraZeneca, which is leading the global race to manufacture the first coronavirus vaccine in a partnership with Oxford University, had informally approached Gilead about a potential tie-up last month and Gilead discussed
  
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• Protests ‘undoubtedly a risk’ for infection

  07-06-2020 16:15 via uk.finance.yahoo.com
  
  Health Secretary Matt Hancock urged people not to attend anti-racism demonstrations.
  
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• Regulator combats concerns over gold-plated pension transfers

  07-06-2020 16:14 via uk.finance.yahoo.com
  
  The FCA launched 30 enforcement investigations arising from concerns identified while investigating defined benefit pension transfers.
  
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• Lufthansa CEO promises Germans a 'homecoming guarantee'

  07-06-2020 16:06 via uk.finance.yahoo.com
  
  Lufthansawill bring home any Germans it flies abroad on vacation, Chief Executive Carsten Spohr said in a newspaper interview, seeking to assuage holidaymakers' concerns that new coronavirus outbreaks could leave them stranded.Foreign Minister Heiko Maas on Wednesday said that Germany would not undertake another repatriation initiative this summer, as it did when the coronavirus pandemic struck earlier this year."Be it because they are not allowed to enter the country due to an elevated temperat
  
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• UK could class loot boxes as gambling to protect children

  07-06-2020 15:51 via uk.finance.yahoo.com
  
  UK could class loot boxes as gambling to protect children. Ministers call for evidence on video games such as Fifa that charge money for rewards
  
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• Hancock: 'Science says R value is below one across country'

  07-06-2020 15:17 via uk.finance.yahoo.com
  
  Health Secretary Matt Hancock says the government is taking a “very cautious and safety first” approach when it comes to relaxing lockdown restrictions even further so as to ensure that the R value stays below one.
  
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• Shadow banks told Treasury closing in on SME rescue scheme plan

  07-06-2020 15:14 via uk.finance.yahoo.com
  
  The Treasury is racing to throw a taxpayer-funded lifeline to so-called shadow banks struggling due to coronavirus chaos. In an email sent by industry lobby group UK Finance, specialist lenders which have no banking licence have been told that Treasury officials are closing in on a plan which would allow some of them to offer vital state-backed loans to struggling small businesses. The solution being discussed would allow mainstream banks to provide funding to alternative lenders through a speci
  
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• How crashing dividend stocks can boost your chances of retiring early

  07-06-2020 15:02 via uk.finance.yahoo.com
  
  Buying undervalued dividend stocks could enable you to generate high returns in a subsequent market recovery that improves your chances of retiring early.The post How crashing dividend stocks can boost your chances of retiring early appeared first on The Motley Fool UK.
  
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• Coronavirus cases rising, political tension, oil and jobs data to impact markets

  07-06-2020 15:00 via uk.finance.yahoo.com
  
  Oil prices will likely be impacted by the OPEC+ meeting this weekend.
  
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• Why I’d follow Warren Buffett’s advice on how to beat a market crash

  07-06-2020 14:55 via uk.finance.yahoo.com
  
  Using Warren Buffett’s core strategy during a market crash could allow you to capitalise on low stock prices to improve your long-term financial outlook.The post Why I'd follow Warren Buffett’s advice on how to beat a market crash appeared first on The Motley Fool UK.
  
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• Coronavirus: Asset management boss warns of global corporate insolvency crisis

  07-06-2020 14:50 via uk.finance.yahoo.com
  
  Businesses will need access to a range of capital pools to offset debt rather than relying on asset management industry, warns Fidelity International boss Anne Richards.
  
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• BA launches legal battle over Covid-19 quarantine ruling

  07-06-2020 14:37 via uk.finance.yahoo.com
  
  BA launches legal battle over Covid-19 quarantine rulingBid to overturn ‘illogical’ restrictions comes amid anger at further plans to sack staff * Coronavirus – latest updates* See all our coronavirus coverage
  
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• Coronavirus: COVID continues to impact China's trade balance

  07-06-2020 14:32 via uk.finance.yahoo.com
  
  China's trade surplus surged as exports fell less than expected in May, while a sharp fall in imports indicated pressure on manufacturers.
  
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• BA, Ryanair, easyJet protest over 'wholly unjustified' UK quarantine plan

  07-06-2020 14:32 via uk.finance.yahoo.com
  
  Three airlines have written to the British government in protest at its "wholly unjustified and disproportionate" quarantine rules for most international arrivals from Monday, a copy of the letter seen by Reuters showed.With planes around the world grounded since late March, airlines had hoped to start flying from July, but bosses say quarantine measures will hamper that recovery.From June 8, almost everyone arriving in Britain will be required to self-isolate for 14 days and to fill in a contac
  
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• Looking for BIG dividends? 2 small-caps I think could help you get rich and retire early

  07-06-2020 14:30 via uk.finance.yahoo.com
  
  Royston Wild explains why dividend chasers need to box clever today. These 5%+ small-caps could be just what you're looking for.The post Looking for BIG dividends? 2 small-caps I think could help you get rich and retire early appeared first on The Motley Fool UK.
  
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• Coronavirus: Sports Direct CFO calls for more support for ailing retailers

  07-06-2020 14:12 via uk.finance.yahoo.com
  
  Speaking to Sky News’s Sophy Ridge On Sunday, Chris Wootton warned that without support, “many more retailers will go to the wall”.
  
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• Stock market crash: 2 FTSE 100 shares I think are still dirt-cheap

  07-06-2020 13:52 via uk.finance.yahoo.com
  These FTSE 100 shares suffered badly in the stock market crash. Roland Head reckons both could be bargain buys at current levels.The post Stock market crash: 2 FTSE 100 shares I think are still dirt-cheap appeared first on The Motley Fool UK.
  
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• Forget Bitcoin. I’d invest in cheap FTSE 100 stocks in an ISA today to retire early

  07-06-2020 13:36 via uk.finance.yahoo.com
  
  I think undervalued FTSE 100 (INDEXFTSE:UKX) shares offer a more attractive risk/reward ratio than virtual currencies such as Bitcoin.The post Forget Bitcoin. I’d invest in cheap FTSE 100 stocks in an ISA today to retire early appeared first on The Motley Fool UK.
  
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• Student housing provider calls in debt collectors

  07-06-2020 13:20
  Sanctuary Students serves notices to tenants for this term’s dues after rent withheld
  
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• FTSE 100 stocks: here’s where I’d invest £10k right now

  07-06-2020 13:13 via uk.finance.yahoo.com
  
  I’d spread my £10k investment between around five carefully selected FTSE 100 stocks. And here are some of the shares I like right now.The post FTSE 100 stocks: here’s where I’d invest £10k right now appeared first on The Motley Fool UK.
  
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• The Centrica share price is dirt-cheap: here’s what I’d do now

  07-06-2020 13:08 via uk.finance.yahoo.com
  
  The Centrica share price is too cheap to ignore, says Roland Head. He thinks the group's short-term problems are hiding a valuable business.The post The Centrica share price is dirt-cheap: here's what I'd do now appeared first on The Motley Fool UK.
  
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