Business news

• Ecopetrol denounces sabotage of 31 wells at La Cira-Infantas oil field

  14-06-2020 23:54 via uk.finance.yahoo.com
  
  Colombia's majority state-owned oil company Ecopetrol denounced on Sunday the sabotage of 31 wells at an oil field in the northeast of the country, which put the wells offline and led to oil being spilled.The acts of sabotage took place at Ecopetrol'sLa Cira-Infantas oil field, near the city of Barrancabermeja, which produces around 35,000 barrels of oil a day.As well as the acts of sabotage, security guards and workers at the field received threats from hooded aggressors to abandon their posts
  
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• Orange eyes Nigeria, South Africa as possible new markets

  14-06-2020 22:59 via uk.finance.yahoo.com
  
  Orange , France's largest telecom operator, believes it would benefit from having a wider footprint in Africa and will give itself a few months to make a possible move, Chief Executive Stephane Richard told Les Echos business newspaper."It could make sense to be in economies such as Nigeria and South Africa," Richard was quoted as saying.Richard declined to comment on a possible interest in South Africa's MTN Group Ltd .
  
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• Tunisia's prime minister decides against relying on more external debt

  14-06-2020 22:57 via uk.finance.yahoo.com
  
  Tunisian Prime Minister Elyes Fakhfakh said on Sunday he decided against the use of more external debt and that all new expenses that arise for the country would be funded only through internal loans.Tunisia needs an additional 4.5 billion dinars (1.26 billion pounds) of loans because of the coronavirus crisis, and the government will seek it from the local market, he added."External debt reached dangerous levels and now reached 60% of GDP, compared to 30% in 2013 and I decided not to continue i
  
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• Tunisia's PM decides against relying on more external debt, will freeze salaries

  14-06-2020 22:57 via uk.finance.yahoo.com
  
  Tunisian Prime Minister Elyes Fakhfakh said on Sunday he had decided against the use of more external debt and that all new expenses that arise for the country would be funded only through internal loans.Tunisia needs an additional 4.5 billion dinars (1.26 billion pounds) of loans because of the coronavirus crisis, and the government will seek it from the local market, he added."External debt reached dangerous levels and now reached 60% of GDP, compared to 30% in 2013 and I decided not to contin
  
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• Metro Bank in talks to buy peer-to-peer lender RateSetter - Sky News

  14-06-2020 22:56 via uk.finance.yahoo.com
  
  The price Metro Bank would pay for RateSetter is unclear and there is no guarantee that the talks between the two firms would lead to a transaction, Sky News said.A Metro Bank spokesperson said the company would not comment on rumour or speculation, while RateSetter said it had no comment on the report.
  
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• Britain's Metro Bank in talks to buy peer-to-peer lender RateSetter - Sky News

  14-06-2020 22:56 via uk.finance.yahoo.com
  
  The price Metro Bank would pay for RateSetter is unclear and there is no guarantee that the talks between the two firms would lead to a transaction, Sky News said.A Metro Bank spokesperson said the company would not comment on rumour or speculation.
  
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• 2020 Mercedes GLA 220d review: revised SUV guns for Audi and BMW rivals

  14-06-2020 22:33 via uk.finance.yahoo.com
  
  The A-class, launched in 1997 as an innovative multi-purpose vehicle (MPV) which sold well even into its second generation, was never liked much by Mercedes-Benz marketing. What they wanted was a Mini; front-wheel drive, stylish and cheap to build – and that’s what they got in 2013 when the third-generation A-class was launched. What we didn’t realise then was that Mercedes marketing was set to dominate the world with this car, in the process stretching the three-pointed star&r
  
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• France must seek greater economic independence after virus, Macron says

  14-06-2020 20:37 via uk.finance.yahoo.com
  
  President Emmanuel Macron said on Sunday he was accelerating France's exit from its coronavirus lockdown and that the crisis had laid bare the country's need for greater economic independence.In a televised address to the nation, Macron promised that the 500 billion euro cost of keeping companies afloat and people in jobs during the worst downturn since World War Two would not be passed to households through higher taxes.Restaurants and cafes in Paris will be allowed to reopen fully from Monday,
  
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• Camden market sets out its stall for a return from lockdown

  14-06-2020 20:00
  With no prospect of the former tourist hordes, many long-term sellers are having to make tough choices
  
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• Steel bosses to be jailed for fatal fire – 12 years after it happened

  14-06-2020 19:36 via uk.finance.yahoo.com
  
  Two former senior executives of ThyssenKrupp, the German steel company, are to spend five years in jail for the manslaughter of seven workers in a fire at a factory in Turin – more than 12 years after the fatal blaze. In 2016 Harald Espenhahn, the former head of the firm's operations in Italy, was sentenced by a court in Turin to almost 10 years in jail and Gerald Priegnitz, another manager, was given a term of more than six years for their failure to prevent the fire in December 2007. But
  
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• Microsoft-owned coding site Github to replace the term 'master' in push to remove slavery references

  14-06-2020 19:17 via uk.finance.yahoo.com
  
  The Microsoft-owned computer code company Github is planning to replace the term “master” from its systems as the Black Lives Matter movement puts tech companies under pressure to drop perceived references to slavery. Nat Friedman, Github’s chief executive, said it was working on changing the default name for a branch of computer code from “master” to “main”. Programming languages have historically used the terms “master” and “slave&rdq
  
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• UK businesses seek swift return to work

  14-06-2020 19:00
  Third of small companies have reopened ahead of return of non-essential retailers
  
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• Systemic racism slows economic growth - Dallas Fed chief Kaplan

  14-06-2020 18:31 via uk.finance.yahoo.com
  
  Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan said on Sunday."A more inclusive economy where everyone has an opportunity will mean faster workforce growth, faster productivity growth and will grow faster," Kaplan said on CBS' "Face the Nation."Kaplan said he agreed with his counterpart at the Atlanta Federal Reserve Bank, Raphael Bostic - the Fed’s only African-American polic
  
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• Systemic racism slows down economic growth, Dallas Fed chief says

  14-06-2020 18:31 via uk.finance.yahoo.com
  
  Systemic racism and high unemployment levels among black and Hispanic Americans create a drag on the U.S. economy, Dallas Federal Reserve President Robert Kaplan said on Sunday.Kaplan said he agreed with his counterpart at the Atlanta Federal Reserve Bank, Raphael Bostic - the Fed’s only African-American policymaker - who on Friday issued an impassioned call for an end to racism and laid out ways the U.S. central bank can help.The comments by the Fed policymakers follow weeks of nationwide
  
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• The internet law that could be central to a US-UK trade deal

  14-06-2020 18:25 via uk.finance.yahoo.com
  
  History’s most famous laws are often its shortest. The US constitution clocked in at just four pages; the 10 commandments on two stone tablets. And the internet, while it put an infinity of content at its users’ fingertips, owes its current form to just 26 words. Section 230 of the Communications Decency Act, a 1996 US law, declares that: “No provider or user of an interactive computer service shall be treated as the publisher or speaker of any information provided by another i
  
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• UK economy set to fall by record 15pc during second quarter

  14-06-2020 18:11 via uk.finance.yahoo.com
  
  The UK’s economy is set to have contracted by a record 15pc during the second quarter of 2020 - as the manufacturing sector warned of its "toughest ever" outlook. Economists at the EY Item Club have downgraded their view of the damage to the UK economy from coronavirus - and warned 2019 levels of output would not be reached again until 2023. As well as the 15pc fall in GDP during the second quarter, they predict GDP across the year will fall by 8pc. That compares to predictions in April of
  
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• Coronavirus: Consumers 'should shop with confidence', says PM

  14-06-2020 18:07 via bbc.co.uk
  
  Boris Johnson urges people to maintain social distancing when non-essential shops reopen in England.
  
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• Coronavirus: AstraZeneca in vaccine talks with Japan, Russia, Brazil and China

  14-06-2020 18:02 via uk.finance.yahoo.com
  
  Pharmaceutical giant AstraZeneca in talks with four more nations to supply potential COVID-19 vaccine
  
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• Joules boss Nick Jones on preparing for a socially distanced reopening

  14-06-2020 17:56 via uk.finance.yahoo.com
  
  Nick Jones, the boss of fashion brand Joules, decided to shut all of its shops a week before his rivals were forced to. “You could see what was happening in other parts of the world,” he says. “The likelihood of closures was becoming ever more likely.” Jones had only been in charge for six months when coronavirus started to spread. “I certainly wasn’t expecting it, but because it is impacting everybody, albeit in different ways, you draw in the energy of that
  
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• Coronavirus: Capita to cut at least 200 jobs

  14-06-2020 17:38 via uk.finance.yahoo.com
  
  Job cuts will be focused on its central support teams in London.
  
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• Fashion retailer Boohoo in £1m executive pay row

  14-06-2020 17:18 via uk.finance.yahoo.com
  
  An advisory group is urging shareholders to vote against Boohoo salary increases at its annual meeting this week.
  
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• Iraq agrees with oil companies on deeper output cuts in June - sources

  14-06-2020 17:10 via uk.finance.yahoo.com
  
  Iraq has agreed with major oil companies operating its giant southern oilfields to cut crude production further in June, Iraqi officials working at the fields told Reuters on Sunday.Baghdad aims to improve its compliance with its output cut targets under a global deal with OPEC and its allies to reduce oil supply.Iraq has agreed with Russia’s Lukoilto start an additional cut of 50,000 barrels per day (bpd) as of June 13 to lower production from the West Qurna 2 field to around 275,000 bpd.
  
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• German airline Condor to cut up to 25% of staff, CEO tells newspaper

  14-06-2020 17:08 via uk.finance.yahoo.com
  
  German charter airline Condor will cut up to 25% of its employees to reduce costs and recover from the coronavirus crisis, Chief Executive Ralf Teckentrup told the Frankfurter Allgemeine Sonntagszeitung weekly.In April, Germany's government and the federal state of Hesse agreed to give Condor loans worth 550 million euros after the owner of Poland's LOT pulled out of a deal to buy the group.
  
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• Carbon-neutral coffee comes to UK – via sail boat from Colombia to Cornwall

  14-06-2020 17:03 via uk.finance.yahoo.com
  
  Carbon-neutral coffee comes to UK – via sail boat from Colombia to Cornwall. With Yallah Coffee’s beans arriving on a schooner, has the prospect of wind-powered cargo finally landed?
  
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• NBA players looking for specialised insurance coverage before resuming season

  14-06-2020 17:01 via ibtimes.co.uk
  
  Players are concerned aboutthe additional risks that they will be facing once the NBA returns.
  
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• LA Lakers Danny Green, LeBron James don't think NBA restart a 'distraction'

  14-06-2020 16:44 via ibtimes.co.uk
  
  Some players think resuming the season takes the spotlight away from "Black Lives Matter."
  
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• Italian bank BPER to hold board meeting on revised Intesa deal - source

  14-06-2020 16:34 via uk.finance.yahoo.com
  
  Italian bank BPER Bancawill hold a board meeting later on Sunday to approve a revised deal with Intesa Sanpaolothat addresses antitrust issues in Intesa's takeover bid for UBI Banca , a source close to the matter said.Intesa Sanpaolo launched a bid for smaller rival UBI Banca in February but the deal has run up against antitrust hurdles.To get the green light for the bid, Intesa had struck a deal under which BPER Banca would buy up to 500 branches and about 20 billion euros (17.9 billion pounds)
  
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• Italian bank BPER approves revised Intesa deal-source

  14-06-2020 16:34 via uk.finance.yahoo.com
  
  Italian lender BPER Bancaon Sunday approved a revised deal with Intesa Sanpaoloto address antitrust issues in Intesa's takeover bid for UBI Banca , a source close to the matter said.Intesa Sanpaolo launched a bid for smaller rival UBI Banca in February but the deal ran up against antitrust hurdles.To get the green light for the bid, Intesa had struck a deal under which BPER Banca would buy up to 500 branches and about 20 billion euros (17.9 billion pounds) in assets from the new group.
  
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• Neil Woodford completely ditched this FTSE 100 stock, but I’d happily buy it today!

  14-06-2020 16:20 via uk.finance.yahoo.com
  
  The FTSE 100 fell nearly 6% last week, its biggest fall in three months. Meanwhile, this top share combines a 5% yearly payout with future growth.The post Neil Woodford completely ditched this FTSE 100 stock, but I'd happily buy it today! appeared first on The Motley Fool UK.
  
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• Tech bosses: One hour not enough time to assess terrorist content

  14-06-2020 16:18 via uk.finance.yahoo.com
  
  Tech giants have told the EU it would be impossible to comply with officials' demands to take down terrorist material within one hour without damaging free speech. Microsoft warned the European Commission that its new anti-terror law would be "unworkable in practice" and would lead to "erroneous decisions", while Google, which owns YouTube, also said it could be "unworkable" and predicted "very negative consequences". The claims, made in 2018 in response to a confidential EU consultation, shed l
  
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• Spain plans 3.7 billion euro auto sector aid package, says PM

  14-06-2020 16:17 via uk.finance.yahoo.com
  
  Spain plans a 3.7 billion euro (3.3 billion pounds) aid package for its automobile sector, hit hard by the coronavirus pandemic, to promote investment and the purchase of vehicles, specially electric models, Prime Minister Pedro Sanchez said on Sunday.Sanchez said details of the plan, which will also include fiscal and research measures, would be announced on Monday for a sector that accounts for a tenth of Spain's national output and close to a fifth of its exports.
  
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• Charlotte Hornets react to Michael Jordan's 'The Last Dance'

  14-06-2020 16:06 via ibtimes.co.uk
  
  The players opened up about what they learned about their boss through the documentary.
  
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• Disney's £133m Artemis Fowl adventure is boon for UK film industry

  14-06-2020 15:57 via uk.finance.yahoo.com
  
  Disney has upped the ante in its battle with Netflix by spending £133.7m on making Artemis Fowl, the Kenneth Branagh adventure movie about a 12-year-old criminal mastermind, which premiered on the Disney Plus streaming service on Friday. It is the first film Disney has switched from the silver screen to launching online due to cinemas being closed. Disney Plus launched in the UK in March just in time to capitalise on consumers being forced to stay at home. The company announced last month
  
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• COVID-19 measures in place as shops reopen tomorrow

  14-06-2020 15:55 via uk.finance.yahoo.com
  
  Shops will open their door tomorrows following months of closure since lockdown began on March 23.
  
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• Coronavirus: Scotland to launch working group to save jobs at Rolls-Royce plant

  14-06-2020 15:28 via uk.finance.yahoo.com
  
  The aerospace giant, hit hard by the COVID-19 outbreak earlier said 700 jobs at its Scottish plant were at risk.
  
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• Capita to axe at least 200 jobs amid coronavirus cost-cutting

  14-06-2020 15:00 via uk.finance.yahoo.com
  
  Capita to axe at least 200 jobs amid coronavirus cost-cutting. Outsourcing firm is working on 100 government pandemic response projects, but says these will not be affected
  
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• Google ‘exploring’ why picture of Churchill went missing from search

  14-06-2020 14:53 via uk.finance.yahoo.com
  
  Google has said it is exploring why a picture of Winston Churchill went missing from a search list of former UK prime ministers, amid controversy over the legacy of the wartime leader.The company apologised on Sunday morning for the disappearance of the picture from its “knowledge graph” listing, adding that many photos of Churchill could still be found on its search engine.
  
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• Coronavirus: Social distancing rule revision will have significant impact, says UK chancellor

  14-06-2020 14:31 via uk.finance.yahoo.com
  
  Sunak noted it will be ministers rather than the government’s scientific advisers who make the final decision.
  
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• Forget gold and Bitcoin. I’d buy cheap stocks in this market rebound to retire early

  14-06-2020 14:21 via uk.finance.yahoo.com
  
  I think buying cheap stocks could increase your chances of retiring early due to the market’s long-term recovery potential.The post Forget gold and Bitcoin. I’d buy cheap stocks in this market rebound to retire early appeared first on The Motley Fool UK.
  
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• Coronavirus: GVC bosses handed £5m share bonus while 14,000 staff furloughed

  14-06-2020 14:18 via uk.finance.yahoo.com
  Betting shop bosses to be awarded massive share bonuses whilst company saves £20m a month after receiving government aid.
  
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• Austria plans investment subsidy, tax breaks for coronavirus-hit firms

  14-06-2020 14:16 via uk.finance.yahoo.com
  
  Austria plans extra investment subsidies and tax breaks to help companies hit by the coronavirus pandemic, Economy Minister Margarete Schramboeck said on Sunday.Companies that commit to investments in the next six months could get 14% of it back as a subsidy, she told broadcaster ORF ahead of a two-day cabinet meeting on more stimulus measures.This could comprise a basic subsidy of 7% and additional support for spending on things like digitalisation, the life sciences and health care, she said,
  
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• Market crash: is this the perfect chance to buy bargain FTSE 100 stocks and become an ISA millionaire?

  14-06-2020 14:03 via uk.finance.yahoo.com
  
  Another stock market crash is increasingly likely, but this could create bargains in the FTSE 100 (INDEXFTSE:UKX). Discover how you can make the most of it.The post Market crash: is this the perfect chance to buy bargain FTSE 100 stocks and become an ISA millionaire? appeared first on The Motley Fool UK.
  
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• Google apologises for glitch which hid photo of Winston Churchill from search results

  14-06-2020 14:03 via uk.finance.yahoo.com
  
  Google has apologised after a glitch hid a photograph of Winston Churchill from search results for British Prime Ministers. Twitter users accused the search engine of censorship after searches for Prime Ministers showed photographs of every former leader other than Churchill over the weekend. “Every PM since Bonar Law depicted, except Winston Churchill,” wrote one Twitter user on Saturday evening, “our history is being rewritten, our heroes erased. This is what totalitarian reg
  
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• Stock market crash part 2 may be ahead. Here are 3 steps to boost your chances of making £1m

  14-06-2020 13:37 via uk.finance.yahoo.com
  
  The potential for a further stock market crash could present buying opportunities for long-term investors, in my opinion.The post Stock market crash part 2 may be ahead. Here are 3 steps to boost your chances of making £1m appeared first on The Motley Fool UK.
  
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• Coronavirus: 'It's very exciting to be returning to work'

  14-06-2020 13:28 via bbc.co.uk
  
  Non-essential shops in England can reopen on Monday and many staff can't wait to get back to business.
  
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• Saudi Aramco buys SABIC shares on market as it completes acquisition

  14-06-2020 13:22 via uk.finance.yahoo.com
  
  State-owned Saudi Aramcobought 2.1 billion shares of Saudi Basic Industries (SABIC)on the stock market on Sunday as it completed its deal agreed last year to buy 70% of the petrochemical giant, according to sources and market data.Four transactions were executed on the Saudi exchange, known as Tadawul, involving SABIC shares worth 259,125 billion riyals (55 billion pounds), Tadawal data showed, without naming the buyer.Four sources confirmed the transactions were part of the Aramco acquisition a
  
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• HMM Algeciras: World's biggest container ship arrives in Essex

  14-06-2020 13:16 via bbc.co.uk
  
  The completion of HMM Algeciras' maiden voyage is a "major milestone", ship's owner says.
  
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• Online shopping: '50% of all reviews' are fake

  14-06-2020 13:05 via uk.finance.yahoo.com
  Firms are paying fake reviewers to promote dodgy products sold online.
  
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• Markets to focus on UK economy, BOE rate decision amid fear of second COVID wave

  14-06-2020 12:50 via uk.finance.yahoo.com
  
  It’s going to be a big week for the UK, as shops reopen, the Bank of England announces its rate decision and the PM speaks to the EC about Brexit.
  
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• Coronavirus: Bank of England set for £100bn of QE

  14-06-2020 12:48 via uk.finance.yahoo.com
  
  The announcement, expected on Thursday, comes after gross domestic product (GDP) plunged a record 20.4% in April.
  
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