Business news

• Airbus extends furloughs in UK, Spain in latest effort to tackle COVID-19 fallout

  19-06-2020 23:54 via uk.finance.yahoo.com
  
  "Airbus Helicopters and Airbus DS employees in Spain are not impacted", the spokesman said.In the United Kingdom, the period of furlough for about 2,200 Airbus workers will start on July 20 and end on Aug. 9, the statement said.
  
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• Boeing names new Space Station chief in latest change affecting program

  19-06-2020 23:18 via uk.finance.yahoo.com
  
  Mulqueen's retirement is the latest management switch-up to touch space station operations, as NASA's space station program manager Kirk Shireman retires Friday to take a job in the private sector.The move comes as the space station, a football field-sized research post 250 miles above the ground, undergoes a shift to commercial operations and as NASA increasingly welcomes companies to stimulate private space tourism.
  
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• England’s contact app fiasco exposes limits of technology

  19-06-2020 23:00
  Evidence from around world suggests successful test-and-trace programmes possible without use of smartphones
  
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• UK scales back plans for £5bn rival to Galileo satellite system

  19-06-2020 21:11
  Work under way to see if much cheaper navigation platform via struggling OneWeb is feasible
  
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• Snapchat removes Juneteenth filter that encouraged users to smile to break chains

  19-06-2020 20:54 via uk.finance.yahoo.com
  
  Snapchat has apologised and removed its Juneteenth filter after the lens sparked backlash among users.On Friday, the social media platform released a new lens in honour of Juneteenth, the anniversary of the day that slavery in the US ended, that prompted users to smile to break chains.
  
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• UK tells telcos to stockpile Huawei gear in face of U.S. sanctions - letter

  19-06-2020 20:46 via uk.finance.yahoo.com
  
  British security officials have told UK telecom operators to ensure they have adequate stockpiles of Huawei equipment due to fears that new U.S. sanctions will disrupt the Chinese firm's ability to maintain critical supplies, according to a letter seen by Reuters.Senior officials at the National Cyber Security Centre (NCSC), who are studying the impact of new U.S. measures intended to restrict Huawei's ability to source advanced microchips, wrote to Britain's BT Groupand Vodafonelast week, said
  
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• Johnson raises hopes for restaurant and bar reopenings

  19-06-2020 20:10
  UK lowers coronavirus alert level and PM signals shift on 2-metre social-distancing rule
  
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• Boohoo investors stage revolt over bosses' pay

  19-06-2020 19:50 via uk.finance.yahoo.com
  
  Fast fashion website Boohoo faced a backlash from investors over pay for its top executives at its annual meeting on Friday. A third of the shareholders who took part in the ballot voted against the retailer’s remuneration report. It included a £50m bonus for chief executive John Lyttle if the company is worth £6bn by March 2024. Boohoo's valuation is £800m shy of that sum after shares jumped 38pc this year. Shares closed 0.2pc higher at 413p. The company raised £20
  
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• Brands tout Black heritage as some shoppers question authenticity

  19-06-2020 19:33 via uk.finance.yahoo.com
  
  L'Oreal SA , Unilever and other multinationals that acquired personal-care brands founded by Black people are moving to reassure their core customers, some of whom have pledged in the wake of racial-justice protests to direct their spending toward only Black-owned companies.L'Oreal's multicultural beauty brand Carol's Daughter, which was founded by a Black woman in her Brooklyn kitchen in 1993 and named for her mother, said June 10 that it wanted to "clear some things up" when it posted a messag
  
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• Apple to shut shops again after Covid-19 spike

  19-06-2020 19:30 via uk.finance.yahoo.com
  
  Apple is closing some stores in the US for a second time after Covid-19 cases jumped in several areas, sparking renewed fears about getting the pandemic under control in the world’s biggest economy. Eleven stores in Florida, Arizona, North Carolina and South Carolina have been shut after health officials reported an increase in cases in each state. The S&P; 500 was in the red in afternoon trading in New York, along with retailers including Nordstrom and Best Buy, following the decision
  
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• There is a way to make UK aid more effective — this merger is not it

  19-06-2020 19:22
  The Foreign Office takeover of DfID is a mistake, but an opportunity has opened up to end the problems caused by central control
  
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• Gucci hikes handbag prices to curb coronavirus hit, says analyst

  19-06-2020 19:15 via uk.finance.yahoo.com
  
  Gucci has raised the price of handbags by up to 9%, joining rivals Louis Vuitton and Chanel in a bet their brands will still lure the wealthy, a Jefferies report said on Friday, as top luxury brands try to shake off the impact of the COVID-19 pandemic.Jefferies luxury goods analyst Flavio Cereda compared prices in various countries of two Gucci handbags - the $2,290 Dionysus and the $2,980 Zumi - in May and June and found price increases for both in Italy, Britain and China of between 5% and 9%.
  
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• Swiss prosecutors start Glencore criminal probe

  19-06-2020 19:13 via uk.finance.yahoo.com
  
  Glencore Plcsaid on Friday the Office of the Attorney General of Switzerland (OAG) had opened a criminal probe into its failure to have measures in place to prevent alleged corruption in the Democratic Republic of Congo (DRC).Glencore is the subject of a number of corruption and bribery investigations by entities including the U.S. Department of Justice and Britain's Serious Fraud Office.Glencore mines copper and cobalt from Congo, where its links to Israeli billionaire businessman Dan Gertler h
  
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• Swiss prosecutors launch Glencore criminal probe over Congo

  19-06-2020 19:13 via uk.finance.yahoo.com
  
  Switzerland's Attorney General's Office (OAG) has opened a criminal probe into commodity miner and trader Glencore over allegations it failed to have measures in place to prevent corruption in the Democratic Republic of Congo (DRC).In a statement on Friday, the OAG said it opened the criminal proceedings against Glencore this month, but it was not possible to predict the timeframe or course of the case.Prosecutors began investigations against "unknown perpetrators" after receiving a complaint in
  
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• Government caves in to pension concerns over insolvency changes

  19-06-2020 18:48
  Regulator and lifeboat fund to retain their influence over rescue talks after UK government backtracks on proposals to limit their role
  
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• Markets rise as China set to ramp up imports from US farmers

  19-06-2020 18:42 via uk.finance.yahoo.com
  
  The FTSE 100 added 1.1% on a thaw in US-China trade relations.
  
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• Apple to shut some U.S. stores again due to rising COVID-19 cases

  19-06-2020 18:36 via uk.finance.yahoo.com
  
  Apple had planned to reopen about 100 U.S. stores, mostly with curbside pickup but some with walk-in service, in late May as lockdown restrictions began to ease.In a letter to Apple customers in May, Deirdre O'Brien, Apple's retail chief, had said the company would look at data on a local basis and that re-closings were a possibility based on that data.
  
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• Apple and Google labelled ‘disgraceful’ over Government app U-turn

  19-06-2020 18:27 via uk.finance.yahoo.com
  
  The head of one NHS Foundation Trust said the Government should not be blamed for changing their plans on developing a contact-tracing app.
  
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• Solar eclipse 2020: Where to see and how to photograph it this weekend

  19-06-2020 18:17 via uk.finance.yahoo.com
  
  A rare type of solar eclipse that creates a “ring of fire” around the moon is set to take place this weekend, passing over large parts of the Earth.The spectacular effect of the so-called annular eclipse is created when the Moon is further away than usual from the Earth, meaning it is unable to completely block out the Sun.
  
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• Aer Lingus to cut up to 500 jobs due to pandemic

  19-06-2020 18:16 via bbc.co.uk
  
  The coronavirus outbreak and the lockdown have had a "catastrophic' effect on business, says the airline.
  
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• UK retailers face probe into Covid price profiteering

  19-06-2020 18:07
  Regulator to investigate claims of overcharging on items including hand sanitiser
  
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• Glencore's South African venture with Merafe starts job cuts process

  19-06-2020 18:07 via uk.finance.yahoo.com
  
  A joint venture in South Africa with commodities giant Glencoreon Friday began consulting employees on possible job cuts because of the weak economic environment, it said.The Glencore-Merafe Chrome Ventureruns seven chrome mines and five ferrochrome plants in South Africa, and employs a total of 11,448, including contractors, the Merafe website says."The (consultation) process is as a result of the worsening operating environment across the South African ferrochrome industry, including unsustain
  
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• UK debt is bigger than economy for first time since 1963

  19-06-2020 17:56 via uk.finance.yahoo.com
  
  UK debt is bigger than economy for first time since 1963Government borrowed a record £55bn in May on back of coronavirus crisis* Rise in UK retail spending should come with note of caution* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Man stoned to death for attacking estranged wife with machete

  19-06-2020 17:51 via ibtimes.co.uk
  
  The domestic violence survivor's hands had to be amputated due to the injuries sustained during the attack.
  
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• Best hanging chairs: egg, pod and rope hanging chairs for outdoors

  19-06-2020 17:50 via uk.finance.yahoo.com
  
  Curating an outdoor space that’s comfortable and stylish is more important than ever, and bringing the indoors out is a huge garden trend for summer 2020.Creative outdoor seating is totally de rigueur, and hanging chairs are more popular than ever. And there’s a style to suit every taste.
  
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• Landlords approve deal to slash Travelodge’s rent

  19-06-2020 17:44 via uk.finance.yahoo.com
  
  The company's hotels closed in March due to lockdown.
  
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• Couple swim in shark-infested waters for hours after boat capsized

  19-06-2020 17:42 via ibtimes.co.uk
  
  The survivors were forced to swim and trek nearly 10 kilometres leaving two dead companions at the site of the accident.
  
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• Cern hopes to start building £18bn Large Hadron Collider replacement that could smash particles together with vastly more force

  19-06-2020 17:41 via uk.finance.yahoo.com
  
  CERN, the European Organisation for Nuclear Research, has set in motion plans to build a new 100-kilometer circular supercollider.The Large Hadron Collider, by comparison, is 27 kilometers long.
  
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• Angela Merkel fears economic crisis is being underestimated in EU

  19-06-2020 17:25 via uk.finance.yahoo.com
  
  Angela Merkel fears economic crisis is being underestimated in EULeaders clash over coronavirus recovery funds, with Germany pushing for swift resolution* Coronavirus – latest updates* See all our coronavirus coverage
  
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• 'Not enough to say sorry' for slavery links

  19-06-2020 17:20 via bbc.co.uk
  
  After City institutions apologise for slavery ties, historian Sir Hilary Beckles says firms must go further.
  
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• Ministers extend ban on evicting UK high street firms until autumn

  19-06-2020 17:16 via uk.finance.yahoo.com
  
  Ministers extend ban on evicting UK high street firms until autumn. Code of practice also set up to aid landlord negotiations amid lockdown fallout
  
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• U.S. current account deficit edges down; COVID-19 curbs trade

  19-06-2020 17:10 via uk.finance.yahoo.com
  
  The U.S. current account deficit dipped to a near two-year low in the first quarter as the COVID-19 pandemic restricted the flow of goods and services, while companies continued to repatriate profits back home.The Commerce Department said on Friday the current account deficit, which measures the flow of goods, services and investments into and out of the country, slipped 0.1% to $104.2 billion (83.9 billion pounds), the smallest since the second quarter of 2018.A drop in imports and income payme
  
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• U.S. current account deficit edges down as COVID-19 restricts trade

  19-06-2020 17:10 via uk.finance.yahoo.com
  
  The U.S. current account deficit dipped to a near two-year low in the first quarter as the COVID-19 pandemic restricted the flow of goods and services.The Commerce Department said on Friday the current account deficit, which measures the flow of goods, services and investments into and out of the country, slipped 0.1% to $104.2 billion (83.9 billion pounds), the smallest since the second quarter of 2018.Economists polled by Reuters had forecast the current account gap shrinking to $103 billion i
  
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• Brexit: UK plans to keep post-transition trade with EU flowing

  19-06-2020 17:05 via bbc.co.uk
  
  Import and export businesses face big challenges, whether there is a deal with the EU or not.
  
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• Royal Mail bosses to put stamp on company in results with little to smile about

  19-06-2020 16:55 via uk.finance.yahoo.com
  
  Chief executive Rico Back stepped down last month.
  
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• Restaurants that have confirmed their reopening dates, in London and beyond

  19-06-2020 16:53 via uk.finance.yahoo.com
  
  It has been several hours and who-knows-how-many days since the beginning of lockdown, and we’re still not able to eat our dinner in a fancy restaurant.That first bum-on-seat meal, however, seems to be on the horizon.
  
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• London Metal Exchange fines warehouse firm ISTIM for violating warrant rules

  19-06-2020 16:50 via uk.finance.yahoo.com
  
  The London Metal Exchange (LME) said on Friday it had fined warehouse operator ISTIM 30,000 pounds for violating aluminium warrant rules."Between 12 September 2019 and 9 December 2019, ISTIM erroneously instructed its London Agent to issue primary aluminium warrants containing incorrect brand names and/or shapes on five separate occasions," the LME said in a notice to members.It said ISTIM had also stored metal for 1,107 warrants in a warehouse that was not the one listed on the LME's system.
  
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• PM wants September full-time school return

  19-06-2020 16:47 via uk.finance.yahoo.com
  
  Boris Johnson has committed to getting all children back to school full-time in September.
  
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• Nasa funds major new search for signs of life elsewhere in the universe

  19-06-2020 16:46 via uk.finance.yahoo.com
  
  Nasa is funding a major new search for alien life elsewhere in the universe.The project – which is being run by scientists at Harvard and the University of Rochester – will scan the skies for signs of life known as technosignatures. Those are indications of alien technologies, which would be revealed to us either on purpose or by accident.
  
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• Incoming Renault CEO says he's ready for turnaround challenge

  19-06-2020 16:45 via uk.finance.yahoo.com
  
  Renault'sincoming Chief Executive Luca de Meo said on Friday he was confident the ailing French carmaker, which has just launched major cost cuts, could deliver a positive surprise for investors after a period of faltering sales and margins.Addressing shareholders at an annual meeting, De Meo said he shared a "sense of urgency" with teams at Renault to deliver on its restructuring."I've always liked to go where there are challenges," De Meo said, adding he was very conscious that Renault faced p
  
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• Incoming Renault CEO flags turnaround challenge

  19-06-2020 16:45 via uk.finance.yahoo.com
  
  Renault'sincoming Chief Executive Luca de Meo said on Friday he was conscious the French carmaker faced many problems, but added he was confident the group could end up becoming a positive turnaround story.De Meo, addressing investors at the firm's annual shareholder meeting before taking up his new job on July 1, said he shared a "sense of urgency" with teams at Renault to deliver on its new strategy and restructuring."I'm very conscious of the company's difficulties," said De Meo, a former Vol
  
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• Market report: Capita bolstered by plan to offload assets and boost balance sheet

  19-06-2020 16:27 via uk.finance.yahoo.com
  
  Capita has announced plans to sell its education software business in a deal that could be worth as much as £500m as the outsourcer continues to slim down its operations. The company said it will dispose of standalone software products that have little overlap with the rest of the group. Shares closed 1.5p higher at 43p, valuing the group at almost £720m. In a separate announcement it revealed it had also agreed to sell Eclipse Hardware to Access UK for £56m. Proceeds from the
  
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• Defend Earth from killer asteroid by using another asteroid, study suggests

  19-06-2020 16:21 via uk.finance.yahoo.com
  
  A new study suggests that an optimal way of defending the earth against an asteroid would be connecting it to another one.The paper published in EPJ Special Topics, by Flaviane Venditti from the University of Central Florida suggests that using a tether to shift the pair of asteroids’ centre of gravity to alter its course.
  
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• The Glencore share price is down 36%! Is it worth buying?

  19-06-2020 16:19 via uk.finance.yahoo.com
  
  Glencore is down more than a third from its January highs. Anna Sokolidou tries to find out if it is now a bargain or a value trap.The post The Glencore share price is down 36%! Is it worth buying? appeared first on The Motley Fool UK.
  
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• I think £5k invested in these 2 cheap FTSE 100 stocks can help you to get rich and retire early

  19-06-2020 16:18 via uk.finance.yahoo.com
  
  These two FTSE 100 (INDEXFTSE:UKX) stocks could offer high total returns that boost your retirement prospects, in my opinion.The post I think £5k invested in these 2 cheap FTSE 100 stocks can help you to get rich and retire early appeared first on The Motley Fool UK.
  
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• Stock market crash: 1 reason why I’d buy bargain shares today

  19-06-2020 16:05 via uk.finance.yahoo.com
  
  Buying bargain shares following the recent market crash could allow you to benefit from a long-term stock market recovery in my opinion.The post Stock market crash: 1 reason why I’d buy bargain shares today appeared first on The Motley Fool UK.
  
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• Businesswoman cries in court after Barclays makes ‘hustle’ claim

  19-06-2020 16:04 via uk.finance.yahoo.com
  
  Amanda Staveley is engaged in a £1.6 billion High Court battle with the bank over 2008 investment deals.
  
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• Johnson & Johnson drops skin whitening creams

  19-06-2020 15:45 via uk.finance.yahoo.com
  
  Johnson &has decided to stop selling skin whitening creams popular in Asia and the Middle East, it has said, after such products have come under renewed social pressure in recent weeks amid a global debate about racial inequality.Johnson & Johnson will stop selling its Clean & Clear Fairness line of products, sold in India, a spokeswoman told Reuters on Friday.News that it would pull its Neutrogena Fine Fairness line, available in Asia and the Middle East, was reported earlier this m
  
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• Coronavirus: Quarantine rules for some countries set to be relaxed

  19-06-2020 15:37 via bbc.co.uk
  
  Talks are taking place between the UK and a number of European countries, including Portugal.
  
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• Shoppers rush to buy shorts and raincoats as stores reopen

  19-06-2020 15:36 via bbc.co.uk
  
  The typical British changeable weather meant shoppers rushed for shorts and raincoats when stores reopened this week.
  
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