Business news

• Softbank set to invest in more than a dozen U.S. minority-led startups

  18-06-2020 21:45 via uk.finance.yahoo.com
  
  SoftBank Group Corpwill invest $2 million or more in 14 U.S. startups led by black founders and other underrepresented groups, the company said on Thursday, as part of its effort to fund more a more diverse array of entrepreneurs.The investments will back the inaugural members of the Emerge accelerator program which partners with Softbank's WeWork Labs and SoftBank Investment Advisers to mentor minority-led startups.
  
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• Bank of England creates £100bn of new cash

  18-06-2020 21:39 via uk.finance.yahoo.com
  
  Bank of England expands its COVID quantitative easing (QE) programme of bond-buying by £100bn, taking the total since March to £300bn.
  
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• Facebook takes down Trump campaign adverts for using Nazi symbol

  18-06-2020 21:05 via uk.finance.yahoo.com
  
  Facebook has taken down a set of adverts from Donald Trump’s reelection campaign which contained a symbol used by the Nazis to label political dissidents. The adverts, which denounced “dangerous mobs”, “left wing” groups and “Antifa”, were removed on Thursday for breaking Facebook’s rules on “organised hate”. The symbol, an inverted red triangle, is believed to have first been used in the 1930s to identify communists, socialists and soc
  
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• Lockdown price hikes for beans and cleaning spray

  18-06-2020 20:50 via bbc.co.uk
  
  Spray cleaning products are nearly 5% more expensive than in March, while beans cost almost 3% more.
  
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• Pub chain 'has no choice' but to open on 4 July

  18-06-2020 20:40 via bbc.co.uk
  
  The boss of Oakman Inns says that if pubs don't reopen "they'll continue to bleed cash".
  
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• An overhaul of Britain's railways was long overdue even before Covid-19

  18-06-2020 20:40 via uk.finance.yahoo.com
  
  An overhaul of Britain's railways was long overdue even before Covid-19Permanent abolition of old-style franchising was always the best bet. Now can we just get on with it?
  
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• Johnson and Macron back renewed effort to strike UK-EU trade deal

  18-06-2020 20:34
  Britain floats novel idea to unlock stalled talks on future relationship with the bloc
  
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• Bank of England boosts bond-buying by £100bn but slows the pace

  18-06-2020 20:29
  Continued concern at strength of economic recovery, despite hopes plunge in UK output will be milder than feared
  
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• Plans to turn House of Fraser Westfield into co-working space

  18-06-2020 20:21 via uk.finance.yahoo.com
  
  Plans to turn House of Fraser Westfield into co-working spacePlanning application for west London site reflects tough times for retailers and landlords
  
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• Plans to turn House of Fraser in Westfield into co-working space

  18-06-2020 20:21 via uk.finance.yahoo.com
  
  Plans to turn House of Fraser in Westfield into co-working spacePlanning application for west London site reflects tough times for retailers and landlords
  
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• Bank of England condemns ‘inexcusable’ slave trade links of its former leaders

  18-06-2020 20:15 via uk.finance.yahoo.com
  
  Insurance giant Lloyd's of London and pub chain Greene King say they will devote large sums of money to projects assisting minorities.
  
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• UK firms urged to examine slavery links and 'eradicate racism'

  18-06-2020 20:05 via uk.finance.yahoo.com
  
  UK firms urged to examine slavery links and 'eradicate racism'Call from CBI follows reparation efforts by Greene King and Lloyd’s of London
  
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• Exclusive: Church of England and Bank of England apologise for historic slavery links

  18-06-2020 20:05 via uk.finance.yahoo.com
  
  The Church of England and the Bank of England apologised on Thursday night for their historic links to slavery through vicars, bishops and Bank governors who benefited from the trade in the 19th century. The Church said its links to slavery were "a source of shame" as it emerged that scores of churches, clergymen and even a bishop could have been funded by compensation paid to plantation owners. Fresh analysis of a database held by University College London (UCL) found that nearly 100 clergymen,
  
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• Lufthansa investor Thiele seeks talks with German govt - Handelsblatt

  18-06-2020 19:52 via uk.finance.yahoo.com
  
  Lufthansa'sbiggest shareholder, German billionaire Heinz Hermann Thiele, has reached out to Berlin politicians for talks, Handelsblatt said, the latest step in a standoff over the airline's 9 billion euro ($10.1 billion) bailout.Lufthansa shareholders need to approve the rescue package but Thiele, who has ammassed a 15% Lufthansa stake, has criticised bailout terms and is raising more cash by selling down 760 million euros worth of shares in rail and commercial vehicle supplier Knorr-Bremse .Thi
  
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• Tesla wants to start building a new U.S. vehicle plant this summer

  18-06-2020 19:42 via uk.finance.yahoo.com
  
  Electric vehicle maker Tesla Incwants to start building a large vehicle assembly plant in the southwestern United States as early as the third quarter of this year, the company told Texas officials in documents made public this week.The plant would build Tesla's electric pickup truck and Model Y SUV, according to reports.Tesla told officials in Travis County, Texas, the automaker wants to invest about $1 billion to build a 4 million to 5million square foot vehicle assembly plant employing 5,000
  
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• Matt Hancock explains decision to abandon NHSX app

  18-06-2020 19:40 via uk.finance.yahoo.com
  
  The Government says it will abandon its efforts to develop its own coronavirus contact-tracing app in order to focus on technology from Apple and Google. At the Downing Street press conference Health Secretary Matt Hancock said testing on the Isle of Wight uncovered a "technical barrier".
  
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• Five times tech did not go as planned for the Government

  18-06-2020 19:36 via uk.finance.yahoo.com
  
  The failure of the coronavirus contact tracing app is not the first time the Government has changed course on tech-related matters.
  
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• Covid-19 contact tracing app switched to Apple-Google model

  18-06-2020 19:34 via uk.finance.yahoo.com
  
  No date has been set for the rollout of the app, despite Matt Hancock having previously said it would be available in mid-May.
  
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• Welsh chicken factory closed for two weeks over Covid-19 in staff

  18-06-2020 19:29 via uk.finance.yahoo.com
  
  Welsh chicken factory closed for two weeks over Covid-19 in staffFifty-eight coronavirus cases confirmed among workers at 2 Sisters facility on Anglesey
  
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• Exclusive: Three more firms to make donations to BAME groups after historic slavery links exposed

  18-06-2020 19:29 via uk.finance.yahoo.com
  
  Three of the world's biggest banking and insurance companies pledged on Thursday night to pay large sums to projects benefiting black, Asian and minority ethnic (BAME) communities after their roles in the UK's 19th century slave trade were exposed. Royal Bank of Scotland (RBS), Lloyds Banking Group and RSA Insurance said they would make payments or were considering doing so after being approached by The Telegraph. The companies' announcements came after Greene King, one of the UK's largest pub c
  
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• Ford's redesigned F-150 pickup will offer greater connectivity, sleeper seat

  18-06-2020 19:15 via uk.finance.yahoo.com
  
  Ford Motor Conext week will show the next generation of its brawny F-150 pickup truck that offers a new sleeper-seat feature and over-the-air software updates in a machine Ford is counting on to help pay off coronavirus-related debts.The new truck, expected to launch later this year, is a critical plank in Chief Operating Officer Jim Farley's plan to slash $5 billion in warranty costs, speed Ford's push into vehicle connectivity and add to the No. 2 U.S. automaker's already-strong position in th
  
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• Andrew Tyrie quits UK competition watchdog over 'limits' of role

  18-06-2020 19:05 via uk.finance.yahoo.com
  
  Andrew Tyrie quits UK competition watchdog over 'limits' of roleFormer Tory MP resigns after two years at helm to ‘forcefully pursue legislative reform’
  
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• The British must learn from coronavirus mistakes

  18-06-2020 18:53
  Scale of the forecast economic decline reflects the failure to manage the pandemic effectively
  
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• Companies under pressure over historic slave trade profits

  18-06-2020 18:53 via uk.finance.yahoo.com
  
  Tate & Lyle Sugars outlines in detail online the steps it takes to make sure that no workers being trafficked or coerced are being used to make the sugar that sweetens countless British cups of tea. In a section of its website on “modern slavery”, the popular brand sets out its work with smallholders in Belize and ship-owners that transport its goods across the Atlantic. There is no mention, however, of British sugar industry’s historic deep ties with slavery. Henry Tate an
  
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• The ASOS share price has trebled in two months. Is it too late to buy now?

  18-06-2020 18:38 via uk.finance.yahoo.com
  
  The ASOS share price plunged in the Covid-19 crash, but it's come soaring back. Here's why I'm turning positive on its long-term profit potential.The post The ASOS share price has trebled in two months. Is it too late to buy now? appeared first on The Motley Fool UK.
  
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• Growing number of Britons working from home, says ONS

  18-06-2020 18:35 via uk.finance.yahoo.com
  
  Growing number of Britons working from home, says ONSMany businesses reluctant to reopen during coronavirus pandemic, data suggests* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Markets in the red after Bank of England stimulus

  18-06-2020 18:34 via uk.finance.yahoo.com
  
  The FTSE 100 dropped 29.18 points, or almost half a per cent, to 6,224.07.
  
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• Warning issued over Covid-19 home testing scam

  18-06-2020 18:23 via uk.finance.yahoo.com
  
  The Chartered Trading Standards Institute has found evidence of bogus texts from criminals attempting to gain access to homes.
  
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• Amazon UK boss to depart to head up Natural History Museum

  18-06-2020 18:17 via uk.finance.yahoo.com
  
  Amazon’s UK chief, Doug Gurr, will be leaving the online tech giant after nearly a decade to join the Natural History Museum as its director. The 55-year-old, who has spent the last four years heading up the tech giant in the UK, was appointed to the top job by the trustees of the museum. He will succeed Sir Michael Dixon, who announced his decision to leave the museum after 15 years last June. Mr Gurr’s appointment was approved by Prime Minister Boris Johnson. No specific date has b
  
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• Amazon UK boss quits to run Natural History Museum

  18-06-2020 18:17 via uk.finance.yahoo.com
  
  Amazon’s UK chief, Doug Gurr, will be leaving the online tech giant after nearly a decade to join the Natural History Museum as its director. The 55-year-old, who has spent the last four years heading up the tech giant in the UK, was appointed to the top job by the trustees of the museum. He will succeed Sir Michael Dixon, who announced his decision to leave the museum after 15 years last June. Mr Gurr’s appointment was approved by Prime Minister Boris Johnson. No specific date has b
  
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• Amazon and Valentino file joint lawsuit over shoe counterfeiting

  18-06-2020 18:14 via uk.finance.yahoo.com
  
  Italian luxury brand Valentino and Internet giant Amazonhave filed a joint lawsuit against New York-based Kaitlyn Pan Group for allegedly counterfeiting Valentino shoes and offering them for sale online.The move is Amazon's first joint litigation with a luxury fashion brand and Valentino's first with an online retailer.The lawsuit regards the Valentino Garavani Rockstud shoes and the fashion group will receive any proceeds from the case, the companies said in a statement.
  
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• Scotland takes cautious line on virus lockdown easing

  18-06-2020 18:12
  Pressure grows on SNP to go faster amid increasing concern about economy
  
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• Coronavirus: Most furloughed Brits take a 20% pay cut, survey finds

  18-06-2020 18:11 via uk.finance.yahoo.com
  
  Only two in five UK firms top up the government’s 80% wage subsidy.
  
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• Bombardier CEO says has held advanced talks with Alstom over remedies for rail deal

  18-06-2020 18:09 via uk.finance.yahoo.com
  
  Bombardier'schief executive said on Thursday the Canadian company has held "well-advanced" talks with Alstomover remedies as it pursues regulatory approval for the sale of its rail division to the French giant.EU antitrust regulators have set a July 16 deadline for a decision on whether to clear the French TGV high-speed train maker bid for Bombardier Transportation, according to a filing on the European Commission website."The discussions are going on between Alstom and us with the commission a
  
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• Carnival to sell six cruise ships as bookings dry up

  18-06-2020 18:07 via uk.finance.yahoo.com
  
  Carnival to sell six cruise ships as bookings dry upHoliday company loses $4.4bn in just three months during coronavirus crisis* Coronavirus – latest updates* See all our coronavirus coverage
  
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• The PMO share price has risen 188% in 3 months! Here’s what I’d do

  18-06-2020 18:03 via uk.finance.yahoo.com
  
  The PMO share price has been rising since the March market crash but is still far below previous highs. Can it continue to rise? The post The PMO share price has risen 188% in 3 months! Here’s what I’d do appeared first on The Motley Fool UK.
  
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• World's biggest investor votes to boot out bosses over climate change

  18-06-2020 18:02 via uk.finance.yahoo.com
  
  The world’s biggest asset manager has fired a warning shot at boardrooms failing to tackle climate change after voting to kick out bosses at Volvo and London-listed miner Evraz. BlackRock voted against the re-election of the Swedish manufacturing giant’s chairman Carl-Henric Svanberg and Evraz director Karl Gruber in its most high-profile rebellion over climate change in Europe, the Daily Telegraph can reveal. The $7 trillion (£5.6 trillion) investment mammoth railed against bo
  
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• English shoppers’ return points to a gradual retail recovery

  18-06-2020 17:56
  Footfall and customer spending remain well below pre-lockdown levels
  
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• U.S. gasoline demand recovery falters as refiners ramp up output

  18-06-2020 17:55 via uk.finance.yahoo.com
  
  Gasoline consumption inched lower last week after three straight weeks of rises, according to Energy Information Administration data on Wednesday.Refiners last week ran at 73.8% of capacity, the highest since early April, EIA said."Refiners might have declared victory a little early and it's going to be problematic," said John Kilduff, a partner at Again Capital Management in New York.
  
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• Market report: Taylor Wimpey builds up its war chest

  18-06-2020 17:52 via uk.finance.yahoo.com
  
  Housebuilder Taylor Wimpey has raised £515m for its war chest as it prepares to undertake a strategic land grab. The FTSE 100 firm sold 355m shares at 145p apiece, a 4pc discount to Wednesday’s closing price. An additional share subscription by the group’s directors raised a further roughly £7m, bringing total gross proceeds to about £522m. The business said it had received strong support from a number of new and existing shareholders, including a range of retail in
  
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• Rail subsidies costing UK taxpayer £100 per journey in lockdown

  18-06-2020 17:44 via uk.finance.yahoo.com
  
  Rail subsidies costing UK taxpayer £100 per journey in lockdownExperts question how long government will continue to fund running of empty trains* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Alcoholic killer monkey ends up imprisoned for life

  18-06-2020 17:43 via ibtimes.co.uk
  
  The former pet was captured after he aggressively attacked over 250 people when his liquor supply stopped.
  
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• US jobless claims worse than expected despite reopening

  18-06-2020 17:41 via bbc.co.uk
  
  More than 1.5 million Americans filed new applications for unemployment last week.
  
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• IMF says deeper-than-expected contraction in U.S. economy likely in second quarter

  18-06-2020 17:39 via uk.finance.yahoo.com
  
  A defacto lockdown in the United States has lasted longer than expected despite a rollback in some restrictions on mobility, pointing to a deeper-than-expected contraction in gross domestic product in the second quarter, the IMF said on Thursday.Details will be available when the International Monetary Fund releases its updated World Economic Outlook on June 24, spokesman Gerry Rice told a regular briefing held online.Rice said the Chinese economy was gaining momentum, with high frequency data s
  
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• Deutsche Bank to pay $10 million over spoofing charges, reporting failures - CFTC

  18-06-2020 17:37 via uk.finance.yahoo.com
  
  Deutsche agreed to pay a $1.25 million penalty to settle the allegations that two of the bank's traders engaged in numerous instances of a type of market manipulation called "spoofing" in Treasury futures and Eurodollar futures contracts on CME, the bank said in a statement.The CFTC has been aggressively pursuing traders for the practice, a tactic designed to create a false appearance of demand.In 2018, the agency established a task force dedicated to rooting out this form of market manipulation
  
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• Annular solar eclipse 2020: How to watch rare astronomical event live this weekend

  18-06-2020 17:28 via uk.finance.yahoo.com
  
  A rare type of solar eclipse is taking place this week across large parts of the world, as the Sun, Moon and Earth align.The total annular solar eclipse takes place when the moon is too far away in its orbit of the Earth to completely block out the sun, causing light to appear around the edges of the moon.
  
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• Wales chicken plant shut for 2 weeks after Covid-19 outbreak among workers

  18-06-2020 17:24
  Union says social distancing ended too soon as 58 employees fall ill at Tesco supplier 2 Sisters
  
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• The rise - and fall - of Wirecard

  18-06-2020 17:24 via uk.finance.yahoo.com
  
  In the 32 years since Germany’s main stock market index was created, no company has suffered a crash quite like Wirecard did on Thursday. After the payments firm revealed that €1.9bn of cash could not be accounted for, its shares sank more than 60pc. Once the shining star of Germany’s fintech scene worth €24bn two years ago and snatching a spot from the 150-year- old Commerzbank in the Dax 30, Wirecard has been chopped down to size. Now worth just €5bn, the company's f
  
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• New technology could make your dog a motion capture movie star

  18-06-2020 17:21 via uk.finance.yahoo.com
  
  Researchers from the University of Bath have developed technology that would allow people to digitise their dogs.Such an application could be used for a number of purposes, such as assisting vets in diagnosing issues walking and monitoring their recovery.
  
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• How to get £150,000 invested in your London tech start-up

  18-06-2020 17:19 via growthbusiness.co.uk
  
  Originally written by Timothy Adler on Growth Business
  Early stage financier Triple Point has launched a new Kickstart Fund competition to invest up to £150,000 apiece in London-based tech start-ups. Six tech millionaires have also pledged to co-invest in some of the winning start-ups with their own money as angel investors, also offering their experience as mentors. All said they were backing the
  
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