Business news

• Pompeo chides HSBC for 'corporate kowtow' to Beijing

  09-06-2020 23:45 via uk.finance.yahoo.com
  
  U.S. Secretary of State Mike Pompeo on Tuesday chided British bank HSBCfor backing moves by China to end Hong Kong's autonomy, saying such "corporate kowtows" got little in return from Beijing.Pompeo said the United States stood ready to help Britain with alternatives after Beijing reportedly threatened to punish HSBC and break commitments to build nuclear power plants in the country unless it allowed China's Huawei Technologiesto build its 5G network.
  
  Read more

• Zoos and drive-in cinemas will be among English businesses reopening next Monday

  09-06-2020 23:32 via uk.finance.yahoo.com
  
  Prime Minister Boris Johnson will set out details on Wednesday of which sectors of the economy will be allowed to resume on June 15, including the reopening of zoos and drive-in cinemas in England.On Wednesday, Johnson will add zoos, safari parks and drive-in cinemas to the list."This is by necessity a careful process, but we hope the reopening of safari parks and zoos will help provide families with more options to spend time outdoors, while supporting the industry caring for these incredible a
  
  Read more

• Thousands of Vodafone UK customers face call connection problems

  09-06-2020 23:17 via uk.finance.yahoo.com
  
  The issue for most customers seemed to be resolved within an hour, with Vodafone saying it was caused by a change the company had made to block a range of telephone numbers used to make spam calls."We'd like to apologise to any customers who struggled to make phone calls this evening," Vodafone said in a statement.
  
  Read more

• Babylon Health admits GP app suffered a data breach

  09-06-2020 23:14 via bbc.co.uk
  
  The video call app allowed some patients to see recordings of others' sessions with medics.
  
  Read more

• Advertisement

• Vodafone warns ripping out Huawei would cost UK lead in 5G

  09-06-2020 22:00
  Mounting political pressure for ban on Chinese group despite potential equipment bill for telecoms industry
  
  Read more

• Vodafone warns Huawei rip-out would cost UK 5G lead

  09-06-2020 22:00
  Full ban on Chinese group’s equipment represents serious threat to telecoms industry
  
  Read more

• Exclusive: Mexico's tax chief eyes criminal charges as path to tougher corporate enforcement

  09-06-2020 21:22 via uk.finance.yahoo.com
  
  Mexico's tax chief is preparing to press criminal charges against some of the biggest companies operating in the country as part of an enforcement crusade, telling Reuters that officials had opened "four or five" cases of tax fraud this year alone.The campaign has already squeezed hundreds of millions of dollars from retailer Walmart Inc's Mexico unitand Coca-Cola bottler Femsa , with other firms under scrutiny in the country with the lowest take in the Organisation for Economic Co-operation and
  
  Read more

• What’s the right pocket money app for lockdown learning?

  09-06-2020 21:15 via uk.finance.yahoo.com
  
  So many of us are going cashless during lockdown. There are almost no daytrips so nowhere to spend small amounts of cash. Many shops have signs up saying they appreciate customers using contactless cards.And the spending limit for contactless payments rose from £30 to £45 at the start of April. Contactless is king in a pandemic.
  
  Read more

• Advertisement

• Amazon removes T-shirt showing George Floyd death

  09-06-2020 21:11 via bbc.co.uk
  
  The T-shirt, available on the US store, broke guidelines about depicting a crime scene.
  
  Read more

• Deaths of 91 NHS workers could be investigated

  09-06-2020 20:45 via uk.finance.yahoo.com
  
  The deaths of more than 90 health and care workers look set to be investigated by the Health and Safety Executive.
  
  Read more

• Argentina stirs up giant soy market with state takeover

  09-06-2020 20:40 via uk.finance.yahoo.com
  
  Argentina's state takeover of embattled soy crusher Vicentin is stirring up the country's giant export market of processed soy, the largest in the world, handing the government a strategic toehold in the important sector.The country's center-left Peronist President Alberto Fernandez announced the plan on Monday to rescue the near hundred-year-old firm that had been Argentina's top exporter of soymeal and soybean oil before hitting financial trouble late last year.Vicentin, which has an important
  
  Read more

• Sharma confirms plan to reopen England’s retailers

  09-06-2020 20:26
  But business secretary plays down prospect of quick cut to 2m social distancing rule
  
  Read more

• Vodafone UK faces complaints over call connection problem

  09-06-2020 20:25 via uk.finance.yahoo.com
  
  Vodafone UK faces complaints over call connection problem. Company has apologised to mobile customers after a large-scale service outage
  
  Read more

• Investors brace for market swings as Trump slips in election polls

  09-06-2020 20:15 via uk.finance.yahoo.com
  
  The U.S. presidential election is re-emerging as a potential risk to markets after a shift in polls that has seen President Donald Trump lose ground to Democrat Joe Biden.Concerns over election-fueled volatility have regained prominence in recent weeks, even as broader market swings have subsided and stocks have surged.Futures on the Cboe Volatility Index , known as Wall Street's "fear gauge," show a visible bump in volatility expectations near the election.
  
  Read more

• The speedy stock market rally has been extreme, but may not last

  09-06-2020 20:00 via uk.finance.yahoo.com
  
  The speedy stock market rally has been extreme, but may not last. Recovery has brought some spectacular short-term gains but coronavirus crisis is not over yet
  
  Read more

• UK warehouse group Segro outlines £1bn to tap online shopping boom

  09-06-2020 19:56 via uk.finance.yahoo.com
  
  UK warehouse group Segro outlines £1bn to tap online shopping boomFTSE 100-listed firm seeks funds to buy new warehouse and distribution infrastructure across Europe and UK
  
  Read more

• Morgan Stanley's Gorman says worst behind, sees smaller reserve build in second quarter

  09-06-2020 19:49 via uk.finance.yahoo.com
  
  "The worst is behind us," Gorman said regarding the bank's reserve build, while speaking at Morgan Stanley's annual U.S. financials conference.Gorman also said the bank expects to cover its dividend "very easily" this year.
  
  Read more

• Questor: shares have recovered 60pc of their losses. Will they eliminate them all?

  09-06-2020 19:40 via uk.finance.yahoo.com
  
  Without fanfare, London’s stocks have recovered three fifths of the value they lost in the coronavirus panic of February and March. The index has been co-operative enough to deal in round figures so the picture is easy to see: before the crisis it hovered around 7,500, then crashed to 5,000; in recent days it has been back at around 6,500. Three 500-point chunks have been recovered, two remain. Will it get back to its former level? In this column’s view there are at least four things
  
  Read more

• ‘Challenge is not over’ warn retail bosses as shops given go-ahead for June 15

  09-06-2020 19:38 via uk.finance.yahoo.com
  
  It came after business secretary Alok Sharma said non-essential stores could reopen their doors on Monday June 15.
  
  Read more

• Bill for furlough scheme and business loans hits £90bn

  09-06-2020 19:27 via uk.finance.yahoo.com
  
  Almost £90bn has been doled out to businesses and workers by government schemes in less than three months as millions of furloughed staff brace for job losses and pay cuts. Some 11.5m Britons are having their wages propped up by the state's furlough and self-employed schemes - a third of the workforce - new Treasury figures revealed. More than £27bn has been spent on the wage subsidies while loans worth £51bn have been handed to firms by Government and Bank of England schemes.
  
  Read more

• Coronavirus lockdown: All shops can open on Monday in England

  09-06-2020 19:23 via bbc.co.uk
  
  Non-essential retailers can open but pubs must wait until July, the business secretary confirms.
  
  Read more

• Explainer: What to look for in the Fed's U.S. economic outlook

  09-06-2020 19:16 via uk.finance.yahoo.com
  
  U.S. Federal Reserve policymakers on Wednesday will publish their first economic projections since the coronavirus pandemic set off a recession in February, estimates expected to signal a collapse in output this year and near-zero interest rates for the next few years.This collection of rate-setters' individual views has also occasionally functioned as a loose policy promise about the path of rates.
  
  Read more

• Hovis brand could be sold for up to £150m

  09-06-2020 19:08 via uk.finance.yahoo.com
  
  Hovis could be sold for as much as £150m as its owners prepare to offload the business later this year. The bread brand's biggest shareholder, the Gores Group, is said to have brought in bankers to explore a sale of its 51pc stake as it seeks to cash in on Hovis’s success during the pandemic, according to Sky News. Gores is understood to have appointed investment bank Baird to conduct an auction of the company. Premier Foods, which owns 49pc, is also understood to support a sale. Ana
  
  Read more

• U.S. crude output decline in 2020 to be steeper than previously expected - EIA

  09-06-2020 19:02 via uk.finance.yahoo.com
  
  U.S. crude output is set to fall by 670,000 barrels per day (bpd) in 2020 to 11.56 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, steeper than the 540,000 bpd decline it forecast previously as drillers have slashed activity.The agency now expects U.S. petroleum and other liquid fuel consumption to plunge 2.4 million bpd to 18.06 million bpd in 2020 compared with its previous forecast for a drop of 2.19 million bpd.The EIA said 2020 world oil consumption is expecte
  
  Read more

• Coronavirus: Airlines set for 'worst' year on record

  09-06-2020 19:00 via bbc.co.uk
  
  Global industry warns the cost of the virus will be $84bn (£66bn) as revenues and passenger numbers halve.
  
  Read more

• World's largest chipmaker says it may comply with US order banning sales to Huawei

  09-06-2020 18:51 via uk.finance.yahoo.com
  
  The world’s biggest chipmaker said that it may need to ask for US approval to sell Huawei crucial parts for its semiconductors, dealing the Chinese company a fresh blow. Mark Liu, chairman of Taiwan Semiconductor Manufacturing Co Ltd (TSMC), suggested to shareholders that the Apple and Qualcomm chip supplier will probably comply with an order that could cut Huawei off, unless Washington makes a special exemption. In May, the US announced controls on companies that use US equipment to suppl
  
  Read more

• Great Britain heads for record coal-free period during lockdown

  09-06-2020 18:47 via uk.finance.yahoo.com
  
  Great Britain heads for record coal-free period during lockdown. England, Scotland and Wales on brink of two-month milestone, longest period since 1880s, says National Grid
  
  Read more

• Barclays labels Staveley lawsuit 'distorted and exaggerated'

  09-06-2020 18:47 via uk.finance.yahoo.com
  
  Barclayshas dismissed as "distorted and exaggerated" legal arguments by financier Amanda Staveley, who is claiming up to 1.5 billion pounds in damages for alleged deceit over a financial crisis-era fundraising in a high-profile London trial.Staveley's PCP Capital Partners alleges Barclays reneged on written and oral representations that it would get the same terms as Qatar during a 7.3 billion pound emergency cash call in October 2008 that allowed the British bank to avoid a state bailout.The Hi
  
  Read more

• Are FTSE mining stocks still a good buy?

  09-06-2020 18:46 via uk.finance.yahoo.com
  
  FTSE mining stocks may not look that exciting compared to tech stocks, but one Fool thinks they could add a shine to your portfolio.The post Are FTSE mining stocks still a good buy? appeared first on The Motley Fool UK.
  
  Read more

• Blow for savers as Marcus closes popular account to new customers

  09-06-2020 18:33 via uk.finance.yahoo.com
  
  Goldman Sachs' consumer banking arm Marcus is withdrawing its popular easy-access account from sale in a fresh blow for embattled savers. Marcus said that it closing the account is only a temporary measure after a stampede to take advantage of its relatively high 1.05pc interest rates pushed deposit levels up close to a regulatory limit. It hopes to relaunch the account later this year, and in the meantime existing customers can continue to access and deposit cash as normal. Since launching in S
  
  Read more

• Debenhams to close more stores with the loss of 300 jobs

  09-06-2020 18:29 via bbc.co.uk
  
  The retailer will not re-open another three outlets after failing to agree new terms with landlord Intu.
  
  Read more

• Amanda Staveley exaggerated role in Barclays rescue, court hears

  09-06-2020 18:29 via uk.finance.yahoo.com
  
  Amanda Staveley exaggerated role in Barclays rescue, court hears. Businesswoman suing bank for £1.5bn she says she is owed for securing 2008 investment
  
  Read more

• Dentists warn of financial disaster as they start work again

  09-06-2020 18:18 via uk.finance.yahoo.com
  
  The dental industry is braced for a financial meltdown as the huge cost of buying protective kit for staff piles fresh pressure on practices already hammered by lockdown. Dentists have been allowed to reopen this week - but added bills and reduced patient numbers mean just 8pc of firms believe they will be able to survive if tough social distancing rules continue. The industry has been hit particularly hard because most dental practices do not qualify for the Government’s business rates ex
  
  Read more

• Market report: IT specialist Aveva bucks FTSE sell-off

  09-06-2020 18:15 via uk.finance.yahoo.com
  
  Information technology provider Aveva was one of the few bright spots on the FTSE 100 on Tuesday, after maintaining its dividend and reporting increased revenues. The company – which makes products including software for industry – posted sales of £833.8m for the 12 months to the end of March, up from £766.6m the year before. Its profit before tax almost doubled, jumping from £46.7m to £92m. Its revenue rise was driven by growth across all regions, with &ldquo
  
  Read more

• Coronavirus: All retail outlets in England can reopen from 15 June

  09-06-2020 18:14 via uk.finance.yahoo.com
  
  All retail outlets in England will be allowed to reopen from 15 June, as the country continues to ease its coronavirus lockdown.
  
  Read more

• Debenhams to close three more stores

  09-06-2020 18:07 via uk.finance.yahoo.com
  
  Debenhams to close three more stores. Move follow failure to agree rent cuts with landlord Intu, bringing total permanent closures to 20
  
  Read more

• London markets slip as global economic fears halt recent rally

  09-06-2020 18:06 via uk.finance.yahoo.com
  
  The FTSE 100 closed 136.87 points lower at 6,335.72p at the end of trading on Tuesday.
  
  Read more

• Southgate: White people need to talk about racial prejudice

  09-06-2020 18:00 via uk.finance.yahoo.com
  
  England manager Gareth Southgate says white people have to join the black community in talking about prejudice in football.He adds he is proud of many of his players, including Raheem Stirling who called for more black players to become managers in the sport.
  
  Read more

• What does the future hold for the Kier share price?

  09-06-2020 17:51 via uk.finance.yahoo.com
  
  The Kier (LON:KIE) share price has risen by 9.86% over the past month and it’s currently trading at 100. For investors considering whether to buy, hold or sell...
  
  Read more

• The Staffline share price – where next?

  09-06-2020 17:51 via uk.finance.yahoo.com
  
  The Staffline (LON:STAF) share price has risen by 7.37% over the past month and it’s currently trading at 30.924. For investors considering whether to buy, hol...
  
  Read more

• Analysts upbeat on the outlook for Euromoney Institutional Investor

  09-06-2020 17:49 via uk.finance.yahoo.com
  
  The Euromoney Institutional Investor (LON:ERM) share price has risen by 7.14% over the past month and it’s currently trading at 822. For investors considering...
  
  Read more

• Analysts optimistic on Totally outlook

  09-06-2020 17:49 via uk.finance.yahoo.com
  
  The Totally (LON:TLY) share price has risen by 18.7% over the past month and it’s currently trading at 22. For investors considering whether to buy, hold or se...
  
  Read more

• BP’s shares rallied after OPEC+ cuts! Are they a buy now?

  09-06-2020 17:32 via uk.finance.yahoo.com
  
  BP's shares rallied on Monday. Anna Sokolidou will explain why and if the company's shares are a good buy now.The post BP's shares rallied after OPEC+ cuts! Are they a buy now? appeared first on The Motley Fool UK.
  
  Read more

• Bosses to avoid quarantine under 'business travel corridors’ plan

  09-06-2020 17:29 via uk.finance.yahoo.com
  
  Bosses could avoid Boris Johnson’s controversial quarantine under radical proposals to create “business travel corridors” with Paris, Frankfurt and Amsterdam. Corporate travel agents have hatched a plan they hope to have in place within a week allowing business leaders to jet off to meetings and sidestep the new rules. Executives arriving from the three cities would take an “on the spot” PCR coronavirus test under proposals spearheaded by the Business Travellers Ass
  
  Read more

• Finland Allows Traveling Abroad but Keeps Casinos Shut

  09-06-2020 17:26 via ibtimes.co.uk
  
  As countries have been lifting the national lockdown, the United Kingdom has just imposed a new restriction on arrivals from abroad.
  
  Read more

• Unite union holds ballot for industrial action at Drax power plant

  09-06-2020 17:21 via uk.finance.yahoo.com
  
  Britain's largest union said on Tuesday it would hold a ballot for industrial action later this month over the closure of two coal-fired generation units at Drax Group'sSelby power plant in north Yorkshire.Unite said the ballot will include the option for strike action later in the summer.Drax Group is planning to close two coal-fired units next April.
  
  Read more

• BoE's Cunliffe sees 'great deal of pain' for financial sector

  09-06-2020 17:15 via uk.finance.yahoo.com
  
  The initial shock of the coronavirus pandemic to Britain's financial system is over, but another sharp repricing of risk is still possible, Bank of England Deputy Governor Jon Cunliffe said on Tuesday."However, the first phase - the initial shock and adjustment to a far more challenging economic outlook in the near term - has passed," he added at an event hosted by the Investment Association, a fund management trade body.Cunliffe said recent economic data pointed to some recovery in April and Ma
  
  Read more

• Boeing jet deliveries sink to just four in May

  09-06-2020 17:13 via uk.finance.yahoo.com
  
  The U.S. planemaker said it handed over just four planes in May, down from six it delivered in April, its lowest total for the month in six decades and about 87% fewer than it delivered to customers at the same time a year ago.Deliveries are financially important to planemakers because airlines pay most of the purchase price when they actually receive the plane.Customers also canceled orders for another 18 planes last month, including 14 MAX jets that were the company's top-selling plane until a
  
  Read more

• U.S. layoffs ease in April; hiring slumps to record low

  09-06-2020 17:12 via uk.finance.yahoo.com
  
  Layoffs in the United States fell in April, but remained the second highest on record, while hiring hit an all-time low, suggesting the labor market could take years to recover from the COVID-19 crisis despite a surprise rebound in employment in May.The report from the Labor Department on Tuesday also showed a decline in job openings as the economy battles a recession triggered by the pandemic."The labor market has a lot more progress to make."
  
  Read more

• U.S. layoffs abate; job openings plunge

  09-06-2020 17:12 via uk.finance.yahoo.com
  
  Layoffs in the United States fell in April, but remained the second highest on record, while job openings dropped, suggesting the labor market could take years to recover from the COVID-19 crisis despite a surprise rebound in employment in May.The Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover Survey, or JOLTS, that layoffs and discharges dropped 3.8 million in April to 7.7 million.The labor market was slammed by the closure of nonessential businesses in mid-Marc
  
  Read more

Follow @Business_UKnews on Twitter!