Business news

• PM faces cabinet backlash over plans to suspend Sunday trading laws - The Times

  12-06-2020 23:30 via uk.finance.yahoo.com
  
  Johnson and his adviser Dominic Cummings both support legislation drafted by Downing Street under which larger supermarkets are to open for more than six hours on Sundays, the newspaper said.Britain's Sunday Trading Act of 1994 allows large stores to open for no more than six consecutive hours between 10 a.m. and 6 p.m.
  
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• Two thirds of millennials have lost income during coronavirus pandemic, poll finds

  12-06-2020 23:20 via uk.finance.yahoo.com
  
  Over two thirds of millennials have seen their incomes reduced during the pandemic, research has found.More than 100,000 people in 50 countries were asked about how Covid-19 has affected their lives. Researchers found that 56 per cent have seen their incomes reduced, with a higher proportion of younger people affected than older people.
  
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• 'I am still the only person of colour on the team'

  12-06-2020 23:01 via bbc.co.uk
  
  As firms make statements in support of Black Lives Matters, some workers accuse them of hypocrisy.
  
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• Coronavirus: Five ways shopping will be different from now on

  12-06-2020 23:01 via bbc.co.uk
  
  Shops in England are preparing to welcome customers back but what will the "new normal" look like?
  
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• UK government issues urgent call for ‘shovel-ready’ projects

  12-06-2020 23:00
  Mayors and business leaders asked for ideas that would create jobs and help economy recover
  
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• English retailers tiptoe towards reopening

  12-06-2020 23:00
  Complying with social-distancing rules will put further pressure on already thin profit margins
  
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• English pubs’ reopening dilemma: how to mix alcohol with social distancing

  12-06-2020 23:00
  Experience in Europe shows landlords will need to strike difficult balance between health and profit
  
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• Wall Street stages recovery after heavy losses on Thursday

  12-06-2020 22:38 via bbc.co.uk
  
  US markets close up, following Europe's partial recovery, after a rollercoaster week for shares.
  
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• Commerzbank rejects Cerberus demands for supervisory board seats

  12-06-2020 22:18 via uk.finance.yahoo.com
  
  Commerzbank , under fire for its strategy and leadership, on Friday rejected demands by top investor Cerberus for two seats on the German bank's supervisory board, according to a letter seen by Reuters.Earlier this week, Cerberus launched a public campaign for change at Germany's second-biggest bank, demanding the seats, as well as cost cuts and a strategy shift."We don't have any vacancies," said the letter from Commerzbank's chairman Stefan Schmittmann to Cerberus.
  
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• Bowser buster: how a Covid shakeup could force Australians to pay more for fuel

  12-06-2020 22:00 via uk.finance.yahoo.com
  
  Bowser buster: how a Covid shakeup could force Australians to pay more for fuelFallout from the pandemic and an inexorable move to electric cars both mean one thing: less demand* Sign up for Guardian Australia’s coronavirus email* Download the free Guardian app to get the most important news notifications* Coronavirus Australia maps and cases: live numbers and statistics
  
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• British Airways’ response to coronavirus crisis a ‘national disgrace,’ say MPs

  12-06-2020 21:45 via uk.finance.yahoo.com
  
  British Airways has been branded a “national disgrace” by MPs because of its response to the coronavirus crisis.A new report by from Transport Select Committee accuses the airline of taking advantage of the pandemic “to cut jobs and weaken the terms and conditions of its remaining employees”.
  
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• Johnson pressed to relax 2-metre rule after UK economy slumps

  12-06-2020 21:36
  Frustration among Tory MPs who fear rigid social distancing regime has hurt UK recovery
  
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• Amazon's business practices examined by two U.S. states - reports

  12-06-2020 21:30 via uk.finance.yahoo.com
  
  The inquiries focus at least in part on how Amazon treats sellers in its online marketplace, the Wall Street Journal https://www.wsj.com/articles/california-is-examining-amazons-business-practices-11591987233 and the New York Times https://www.nytimes.com/2020/06/12/technology/state-inquiry-antitrust-amazon.html reported on Friday.Amazon declined to comment on the report of an investigation by California.It was not immediately available for comment outside regular market hours on the Washington
  
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• Elon Musk-backed OpenAI to release text tool it called dangerous

  12-06-2020 21:04 via uk.finance.yahoo.com
  
  Elon Musk-backed OpenAI to release text tool it called dangerous. The API gives firms access to a text generation AI for use in coding and dating entry
  
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• Volkswagen, Audi on hold as Mexico's Puebla state not ready to reopen

  12-06-2020 20:53 via uk.finance.yahoo.com
  
  Mexico's Puebla state, where German automaker Volkswagenand its luxury brand unit Audihave major plants, said it is not ready to reopen its automotive sector due to ongoing concerns about the spread of the coronavirus.Puebla's Governor Miguel Barbosa signed a decree on Friday stating that the conditions for return of the automotive and construction sectors are not favourable, according to a statement published on the state's Twitter account.Barbosa, an ally of President Andres Manuel Lopez Obrad
  
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• Brexit: Checks on EU imports to be phased-in amid coronavirus crisis

  12-06-2020 20:48 via bbc.co.uk
  
  Ministers say it will give firms "time to adjust" as UK formally rules out extending transition period.
  
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• EU rules out replicating UK ‘light touch’ border after Brexit

  12-06-2020 19:36
  Bloc warns it will maintain integrity of single market regardless of British position
  
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• Coronavirus infections still falling across UK

  12-06-2020 19:36
  Lockdown relaxation not yet affecting decline in numbers carrying the virus, ONS data show
  
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• Mike Ashley's Frasers Group buys Hugo Boss stake

  12-06-2020 19:27 via uk.finance.yahoo.com
  
  Mike Ashley's Frasers Group , formerly Sports Direct, has taken a 5.1% stake in German fashion house Hugo Bossthrough stocks and derivatives, continuing his drive to take the British sportswear and apparel retailer upmarket.Frasers said on Friday the investment reflected its growing relationship with Hugo Boss and belief in its long-term future."Frasers Group intends to be a supportive stakeholder and create value in the interests of both Frasers Group's and Hugo Boss' shareholders," it said.
  
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• EU to tackle unfairly aided foreign firms on EU buying spree - EU draft

  12-06-2020 19:02 via uk.finance.yahoo.com
  
  The EU wants to crack down on foreign companies using unfair foreign subsidies to acquire EU firms, according to a European Commission proposal seen by Reuters, as part of a strategy to protect its key industries and the single market.European Competition Commissioner Margrethe Vestager, who will present the proposal on June 17, had outlined her plan in an interview with Reuters on Tuesday, saying foreign subsidies risk fragmenting the single market and tilting the level playing field.The EU pro
  
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• 6 Psychological Tactics To Use For Your Social Media Marketing Efforts

  12-06-2020 19:01 via ibtimes.co.uk
  
  Have you ever wondered why challenges go viral on social media? Why contests receive a lot of interests? And threads gain a lot of traction? The reason is because humans are, by nature, a creature of influence, easily driven by opinions, trends, and their emotions.
  
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• Investigation launched into Facebook takeover of Giphy over competition concerns

  12-06-2020 18:49 via uk.finance.yahoo.com
  
  The Competition and Markets Authority said it was assessing whether the acquisition could cause a 'substantial lessening of competition'.
  
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• Slow recovery set to follow Britain’s record-breaking contraction

  12-06-2020 18:46
  Forecast post-lockdown upturn might not return GDP to level enjoyed before Covid-19, warn economists
  
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• Travel refused and fines for no face coverings on transport

  12-06-2020 18:45 via uk.finance.yahoo.com
  
  Transport Secretary Grant Shapps says there will be a "gentle approach" to enforce the use of face coverings on public transport from Monday.He also announced a "jet zero council" had been formed to help an environmentally friendly recovery for the aviation industry.
  
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• Amusement arcades furious after No 10 blocks reopening

  12-06-2020 18:44 via uk.finance.yahoo.com
  
  Amusement arcades furious after No 10 blocks reopeningAdult gaming centres warn of thousands of redundancies after government U-turns on reopening date
  
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• London markets limp to gains as bleak GDP reading hits sterling

  12-06-2020 18:43 via uk.finance.yahoo.com
  
  The FTSE 100 closed 28.48 points higher at 6,105.18p at the end of trading on Friday.
  
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• Exclusive: U.S. senators draft plan to reform new plane design approvals after 737 MAX crashes

  12-06-2020 18:38 via uk.finance.yahoo.com
  
  Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administrationcertifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.The measure seeks to eliminate the ability of aircraft makers like Boeing Co.to unduly influence the certification process and marks the most significant step toward reforms following the 2018 and 2019 crashes, which sparked calls to change how the FAA approves new airplanes.The draft,
  
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• Exclusive: Key U.S. senators draft plan to reform new plane design approvals after 737 MAX crashes

  12-06-2020 18:38 via uk.finance.yahoo.com
  
  Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administrationcertifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.The measure seeks to eliminate the ability of aircraft makers like Boeing Co.to unduly influence the certification process and marks the most significant step toward reforms following the crashes, which sparked calls to change how the FAA approves new airplanes.The draft, which was comp
  
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• Luxury Lockdown Cocktail Club: How to make a Mountain Spring with Swift’s Bobby Hiddleston

  12-06-2020 18:37 via uk.finance.yahoo.com
  
  In our Luxury lockdown cocktail club series, bartenders from the world’s best bars demonstrate how to make their signature cocktails: from the perfect Old Fashioned to the most famous martini on earth The countdown is on until the UK’s bars and restaurants are allowed to reopen their doors - but in the meantime our home bars will have to suffice, for a few more weeks at least. The Luxury Lockdown Cocktail Club has taken us on a tour of exotic beachside bars, hip New York hotspots and
  
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• CMA to look into Facebook's purchase of gif search engine

  12-06-2020 18:21 via uk.finance.yahoo.com
  
  CMA to look into Facebook's purchase of gif search engine. Watchdog fears that social media giant’s takeover of Giphy may reduce competition
  
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• U.S. consumer confidence rises; COVID-19, unemployment shadow lingers

  12-06-2020 18:19 via uk.finance.yahoo.com
  
  The survey from the University of Michigan on Friday is broadly in line with economists' expectations that the recovery from the recession would be a long slog."While uncertainty about the future is beginning to ease, it is still higher than it was at anytime during the Great Recession," said Joel Naroff, chief economist at Naroff Economics in Holland, Pennsylvania.The University of Michigan's consumer sentiment index increased to a reading of 78.9 from 72.3 in May. It said "few consumers antici
  
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• Investors hope for stability after busy months for Boohoo

  12-06-2020 18:16 via uk.finance.yahoo.com
  
  The company was attacked by a short seller report last month.
  
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• Coming back to life: Euro bulls eye $1.20 and beyond

  12-06-2020 18:04 via uk.finance.yahoo.com
  
  Sweeping U.S. Federal Reserve policy easing has pummelled the dollar but, more importantly, the euro zone has finally opened the spending taps and taken a big step towards integration.On June 18-19, the European Union will debate a gamechanging 750-billion-euro recovery fund which calls for joint debt issuance and cash grants to poorer, coronavirus-stricken countries."Some sort of symbolic step to (euro zone) fiscal union... is enough to reduce the risk premium that was affecting the euro," said
  
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• 'April was catastrophic': the firms caught up in UK's record slump

  12-06-2020 17:59 via uk.finance.yahoo.com
  
  'April was catastrophic': the firms caught up in UK's record slumpThree businesses explain the challenges presented by Covid-19, lockdown and an end to furlough * Coronavirus – latest updates* See all our coronavirus coverage
  
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• 'April was catastrophic': the firms caught up in the UK's record slump

  12-06-2020 17:59 via uk.finance.yahoo.com
  
  'April was catastrophic': the firms caught up in the UK's record slumpThree businesses explain the challenges presented by Covid-19, lockdown and an end to furlough * UK GDP falls 20.4%* Coronavirus – latest updates* See all our coronavirus coverage
  
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• 'Connected' car fraud cases up 99% in just a year

  12-06-2020 17:51 via uk.finance.yahoo.com
  
  Fraud related to ‘connected’ cars, which can access to internet, nearly doubled from 2018 to 2019.
  
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• John Lewis wargames reopening ahead of Monday restart

  12-06-2020 17:43 via uk.finance.yahoo.com
  
  John Lewis has turned to wargames with staff ahead of reopening the first stores on Monday after being forced to close for the first time in its 155-year history. Some employees acted as customers in this week's "stress tests", with each given individual briefs and specific scenarios known only to them - such as wanting to test a pushchair before purchasing it. The rest of the staff, who did not know what they would be faced with, had to respond accordingly in line with social distancing measure
  
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• U.S. regulator sides with FCA in Jeep trade case against Mahindra

  12-06-2020 17:40 via uk.finance.yahoo.com
  
  A U.S. regulator ruled that India's Mahindra and Mahindra Ltdinfringed upon the intellectual property rights of Fiat Chrysler Automobiles NV's (FCA)Jeep brand, barring the sale of the vehicles in question.The International Trade Commission, in a decision released late Thursday, said Mahindra's Roxor off-road utility vehicle violated the "trade dress" of FCA's Jeep Wrangler SUV.The ITC issued a limited exclusion order prohibiting sale or import of the infringing vehicles and parts, as well as a c
  
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• Starbucks reverses stance and allows staff to wear Black Lives Matter clothing

  12-06-2020 17:35 via uk.finance.yahoo.com
  
  Starbucks reverses stance and allows staff to wear Black Lives Matter clothingChain, which had banned attire that ‘advocated a political, religious or personal issue’, changes course after backlash
  
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• Lord Sugar accused of misjuding 'mood of the nation' after posting picture of new £600,000 private plane

  12-06-2020 17:35 via uk.finance.yahoo.com
  
  Lord Sugar has been accused of misjudging the public mood after posting a photo of his new private plane on Twitter."Collected the New plane today flew it down From Knoxville to Pompano beach”, the businessman tweeted last night, alongside a photo of himself smiling in front of the purple and white liveried plane.
  
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• How to prepare for ANOTHER stock market crash in 2020

  12-06-2020 17:30 via uk.finance.yahoo.com
  
  Anna Sokolidou believes that there will be another stock market crash in 2020. She explains why and how to prepare for it.The post How to prepare for ANOTHER stock market crash in 2020 appeared first on The Motley Fool UK.
  
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• Bank of England joins Dennis the Menace for kids project

  12-06-2020 17:25 via bbc.co.uk
  
  The central bank collaborates with some of the Beano's famous comic characters to teach kids about cash.
  
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• English tourism industry hopes for return in summer

  12-06-2020 17:21 via uk.finance.yahoo.com
  
  English tourism industry hopes for return in summer. Residents in tourist hotspots fear holidaymakers could cause spikes in coronavirus
  
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• English hotels hope for staycation hike as locals fear infection influx

  12-06-2020 17:21 via uk.finance.yahoo.com
  
  English hotels hope for staycation hike as locals fear infection influxResidents in tourist hotspots worry holidaymakers could cause rises in coronavirus * Coronavirus – latest updates* See all our coronavirus coverage
  
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• 'There are lots of BAME candidates': UK boardrooms fail to embrace diversity

  12-06-2020 17:18 via uk.finance.yahoo.com
  
  'There are lots of BAME candidates': UK boardrooms fail to embrace diversityFTSE recruiters are not looking hard enough, says Gate Ventures CEO Tevin Tobun
  
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• Bank of England 'ready to act' as economy shrinks record 20%

  12-06-2020 17:15 via bbc.co.uk
  
  Governor Andrew Bailey pledges action after the UK's economy sees its biggest monthly decline on record.
  
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• Greene King pubs to reopen with perspex screens and controlled toilets

  12-06-2020 17:11 via uk.finance.yahoo.com
  
  Greene King pubs to reopen with perspex screens and controlled toiletsChain spends £15m to get ready for post-lockdown return of ‘the great British pub’ * Coronavirus – latest updates* See all our coronavirus coverage
  
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• How I’ve grown my business: Cameron Shearer, co-founder Digital Risks

  12-06-2020 17:09 via growthbusiness.co.uk
  
  Originally written by Timothy Adler on Growth Business
  Launched five years ago in London to meet the underserved insurance needs of early stage digital businesses, Digital Risks provides personalised subscription-based business insurance to over 750 industries. Its sights are set on expanding its offering to a wider range of businesses and further afield.  Cameron Shearer, co-founder of Digital Risks, oversees a growing team
  
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• Fed's Powell pledges focus on return to strong labor market

  12-06-2020 16:59 via uk.finance.yahoo.com
  
  U.S. Federal Reserve Chair Jerome Powell on Friday reiterated his pledge to do what he can to bring the U.S. labor market back to its pre-coronavirus strength."While all of us have been affected, the burdens are falling most heavily on those least able to carry them," Powell said of the coronavirus pandemic.Powell made the remarks in a report released Friday detailing findings from more than a dozen community outreach events the Fed held across the country over the past year, part of a review of
  
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• Emily Sheffield appointed as new editor of the Evening Standard

  12-06-2020 16:58 via uk.finance.yahoo.com
  
  Emily Sheffield has been appointed as the new editor of the Evening Standard, replacing George Osborne, who becomes the title's editor-in-chief.Ms Sheffield, who began her career as a graduate news trainee at the Guardian newspaper before spending five years at the Standard, will take over from July 1 and will continue the Standard's progression towards being a digital-first operation.
  
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