Business news

• JD Sports' Go Outdoors brand likely to enter administration in days

  21-06-2020 23:46 via uk.finance.yahoo.com
  
  JD Sports' Go Outdoors brand likely to enter administration in daysOver 2,000 people work in the chain’s 67 UK stores, which were hit hard by the lockdown
  
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• Sunak set to follow VAT stimulus with autumn tax rises

  21-06-2020 23:30
  Costly boost as government prepares to scrap 2-metre rule pushes chancellor towards retrenchment later
  
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• Microsoft president's criticism of app stores puts pressure on Apple

  21-06-2020 22:25 via uk.finance.yahoo.com
  
  Microsoft president's criticism of app stores puts pressure on AppleCut of up to 30% charged by app stores obstructs fair competition, claims Brad Smith
  
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• FTSE set to drop as concerns over a second wave increase – live updates

  21-06-2020 22:21 via uk.finance.yahoo.com
  
  Sunak considers VAT cut as calls mount for action to kickstart economy FTSE set to open in the red Asian stocks mixed Roger Bootle: It isn’t time to start ringing the inflationary alarm bells yet
  
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• FTSE drops as concerns over a second wave increase – live updates

  21-06-2020 22:21 via uk.finance.yahoo.com
  
  FTSE opens in the red Andrew Bailey signals policy shift, arguing Bank of England should reduce balance sheet before hiking rates Wirecard says missing €1.9bn probably isn’t real Sunak considers VAT cut as calls mount for action to kickstart economy Roger Bootle: It isn’t time to start ringing the inflationary alarm bells yet
  
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• Italy must solve Atlantia case soon, still no acceptable proposal, PM says

  21-06-2020 21:22 via uk.finance.yahoo.com
  
  Italian infrastructure group Atlantiais yet to submit a proposal which the government can accept to solve a row over its motorway concession but a decision on the matter must be taken soon, Prime Minister Giuseppe Conte said.Italy's ruling 5-Star Movement has threatened to revoke Atlantia's motorway concession following the collapse in 2018 of a bridge in Genoa operated by its Autostrade per l'Italia unitwhich killed 43 people.Atlantia, controlled by Italy's billionaire Benetton family, last wee
  
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• Volkswagen Golf Mk8 review: still the king of family hatchbacks?

  21-06-2020 21:14 via uk.finance.yahoo.com
  
  A new Volkswagen Golf is always an important event. This, after all, the most popular car in Europe and is Britain’s second most popular family car after the Ford Focus; it’s one of the most desirable, too. The outgoing version was, for the vast majority of its life, the best family hatchback you could buy, with an unbeatable blend of space, efficiency, practicality, comfort and driving pleasure. And if it’s to retain its crown, the new eighth-generation version will have to fe
  
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• Italy PM says budget deficit likely to rise further amid pandemic

  21-06-2020 20:57 via uk.finance.yahoo.com
  
  Italy's budget deficit, currently projected to reach 10.4% of domestic output this year, is likely to expand further as the country tries to prop up the economy amid the coronavirus pandemic, Prime Minister Giuseppe Conte said on Sunday.Measures to avoid layoffs as well as to help struggling sectors such as tourism could not wait until September, when the government would present a comprehensive plan to relaunch the economy after the coronavirus crisis, he said."A further increase in the budget
  
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• American Airlines to sell shares, debt to cope with coronavirus hit

  21-06-2020 20:22 via uk.finance.yahoo.com
  
  The company expects to use a portion of the net proceeds from the offerings for general corporate purposes and to enhance its liquidity position, the airline said in a statement.The stock and notes offerings include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional notes respectively, the company said.American Airlines and Delta Air Lines Incsaid last week that a modest recovery in demand was helping to slow d
  
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• American Airlines seeks to raise $1.5 billion in stock, convertible notes sale - Bloomberg News

  21-06-2020 20:22 via uk.finance.yahoo.com
  
  American Airlines declined to comment.American Airlines and Delta Air Lines Incsaid last week that a modest recovery in demand was helping to slow daily cash burn rates in June after the U.S. government reported record low passenger numbers in April amid the coronavirus pandemic.
  
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• American Airlines seeks $3.5 billion in new financing

  21-06-2020 20:22 via uk.finance.yahoo.com
  
  The company expects to use the net proceeds from the stock and convertible notes offerings for general corporate purposes and to enhance its liquidity position, the airline added.The stock and convertible notes offerings, first reported by Bloomberg News, include a 30-day option for the underwriters to purchase up to $112.5 million of additional common shares and up to $112.5 million of additional convertible notes respectively, the company said.American Airlines and Delta Air Lines Incsaid last
  
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• Former Met chief linked to court case over bugging of ex-Ritz owner

  21-06-2020 20:05 via uk.finance.yahoo.com
  
  A private investigation firm headed by former Metropolitan police commissioner Lord Stevens has been linked to a bugging operation targeting Sir Frederick Barclay at the Ritz hotel in London.The firm faces an inquiry over the operation, which involved a bug being planted on the nephew of billionaire Sir Frederick Barclay as part of a bitter high court battle between Sir Frederick and the children of his twin brother, Sir David.
  
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• Coronavirus: New rules to protect British firms amid virus

  21-06-2020 20:05 via bbc.co.uk
  
  The legislation will give the business secretary extra powers to impose conditions on takeovers.
  
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• Ofgem lets energy suppliers start chasing unpaid bills

  21-06-2020 19:40 via uk.finance.yahoo.com
  
  Energy suppliers have been given the green light to start collecting money owed by customers by the industry watchdog. In a letter to suppliers, Ofgem said that while many customers were still struggling to pay bills because of the crisis, it understood that firms could not halt debt collection indefinitely. “We recognise that suppliers cannot extend unlimited credit to customers and we anticipate suppliers will begin to restart debt management activities that may have been paused during t
  
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• Women now pay more for car insurance — despite being better drivers

  21-06-2020 19:10 via uk.finance.yahoo.com
  
  Gender bias in job sectors means women now pay about £15.33 more each year for car insurance.
  
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• 'Millions still need cash': UK project aims to preserve use of physical currency

  21-06-2020 19:05 via uk.finance.yahoo.com
  
  'Millions still need cash': UK project aims to preserve use of physical currencyAmpthill in Bedfordshire is one of the sites for the Community Access to Cash Pilots scheme
  
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• Gazprom sues Germany over Nord Stream 2 decision

  21-06-2020 18:54 via uk.finance.yahoo.com
  
  Gazprom has said it will take Germany to court over a decision not to exempt the Russian company’s controversial gas pipeline from EU regulations governing energy markets. The pipeline, Nord Stream 2, is an $11bn (£8.9bn) subsea link that aims to double the delivery of Russian natural gas to Europe’s biggest economy. However, the project has been buffeted by setbacks, including the introduction of US sanctions last December by President Donald Trump. Now, the Swiss subsidiary o
  
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• Workers seeking redress face delays as tribunal backlog grows

  21-06-2020 18:52
  Claims of unfair dismissal expected to rise as Covid-19 leads to job cuts, but system is slowing
  
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• The North Face joins Facebook advertising boycott over misinformation and hate speech

  21-06-2020 18:52 via uk.finance.yahoo.com
  
  Outdoors brand the North Face has joined a Facebook advertising boycott amid growing condemnation of the social media company's management of misinformation. The California-based clothing and equipment company said it would be pulling advertising from the social media site as part of a "pause" organised by a collection of US civil rights groups. Its decision adds to growing pressure on Facebook chief executive Mark Zuckerberg to crack down on racism and incitement of violence on the social netwo
  
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• UK to tighten takeover rules for groups vital to virus response

  21-06-2020 18:47
  Alok Sharma says new powers will protect national interest in future health emergencies
  
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• Fears female entrepreneurs hit harder by Covid as funding applications halve

  21-06-2020 18:46 via uk.finance.yahoo.com
  
  City grandees have raised concerns that businesswomen are being harder hit by the pandemic than men as funding applications from female entrepreneurs halve. Dame Jayne-Anne Gadhia, the former boss of Virgin Money who was commissioned by the Government to write a report on women in finance, told The Telegraph that there should be a tax incentive for “relevant City firms” to set up funds especially for female innovation as the “old boys network is alive and kicking”. &ldquo
  
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• Coronavirus: IOD urges UK to help those left out of bailout schemes 

  21-06-2020 18:32 via uk.finance.yahoo.com
  
  IoD said many members expect the debt they have been forced to take on during the pandemic to hinder recovery plans.
  
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• Aerospace firms lobby Treasury to accelerate military spending plan

  21-06-2020 18:24 via uk.finance.yahoo.com
  
  Aerospace firms lobby Treasury to accelerate military spending plan. Bosses say money is needed to help steer aviation companies through coronavirus crisis
  
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• Support to help food and drink exports ‘bounce back’

  21-06-2020 18:19 via uk.finance.yahoo.com
  
  The Government has announced a raft of measures to help businesses in the agriculture, food and drink industry to bounce back from coronavirus. Immediate support will be available to help companies seeking to expand overseas, the Department for International Trade and Department for Environment, Food and Rural Affairs said. Some of the measures on offer include a new programme of physical and virtual events designed to help a variety of businesses and exporters. These include an overseas virtual
  
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• Bank of England slavery apology not enough

  21-06-2020 18:07 via uk.finance.yahoo.com
  
  Bank of England slavery apology not enough. Trevor Burnard points to the prominent slave trader Humphry Morice and urges the Bank to publish the extensive papers relating to his activities
  
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• Coronavirus: UK chancellor eyes VAT cut

  21-06-2020 18:04 via uk.finance.yahoo.com
  
  This news comes not long after Sunak said that if Boris Johnson relaxes the two-metre social distancing rule, it “will make an enormous difference” to businesses.
  
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• Changing of guard at top German court signals de-escalation for ECB

  21-06-2020 18:00 via uk.finance.yahoo.com
  
  Changes to the composition of Germany's top court are likely to make it less confrontational towards the European Central Bank following a ruling about bond purchases that sent shockwaves around Europe, according to two sources close to the court.In its ruling last month, the Constitutional Court gave the ECB three months to justify bond purchases under its flagship stimulus programme or lose the Bundesbank as a participant, raising questions about the future of the euro.While Berlin is likely t
  
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• Exclusive: Labour councils in England hit harder by austerity than Tory areas

  21-06-2020 17:57 via uk.finance.yahoo.com
  
  Exclusive: Labour councils in England hit harder by austerity than Tory areasAnalysis by Guardian and Sigoma shows poorer, Labour-held areas lost over a third of spending power
  
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• Sunak considers VAT cut as Darling calls for action to kickstart economy

  21-06-2020 17:56 via uk.finance.yahoo.com
  
  The Chancellor is considering a temporary reduction in VAT to help kickstart the economy amid mounting calls for further government action. Rishi Sunak is understood to have instructed Treasury officials to explore such a course of action. A VAT cut is being advocated by former Chancellor Lord Darling along with an infrastructure spending spree in a new report co-authored by Gerard Lyons for the Policy Exchange think tank. It suggests cutting value added tax from 20pc to as low as 15pc and deleg
  
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• Rogue business owners use coronavirus loans to buy property and supercars

  21-06-2020 17:45 via uk.finance.yahoo.com
  
  Fraudulent use of the Government's coronavirus Bounce Back loans will be prosecuted, the Treasury has warned after it emerged some business owners are using the money to buy houses and supercars. The scheme is designed to help businesses that are struggling because of the pandemic, by giving them access to loans of up to £50,000 that are interest-free for the first 12 months. However, it has emerged that a minority are abusing the scheme. Saba Amari, of supercar dealership Amari said one c
  
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• Coronavirus: A third of Brits say they have a better work-life balance in lockdown

  21-06-2020 17:25 via uk.finance.yahoo.com
  
  Life in lockdown has been an adjustment, but some Brits are enjoying a slower pace of life.
  
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• National Grid challenges Trump over rules that favour petrol over electric cars

  21-06-2020 17:14 via uk.finance.yahoo.com
  
  National Grid is gearing up for a battle with President Trump’s administration over vehicle emissions rules that give a boost to petrol cars over electric ones. The FTSE 100 company is among several large utilities challenging new rules that weaken emissions standards set by the Obama administration and remove the ability of California and other states to set their own emissions rules. National Grid runs Britain’s main gas and power grids but about half of its business is in the US,
  
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• National Grid challenges Trump over new rules that favour petrol cars over electric ones

  21-06-2020 17:14 via uk.finance.yahoo.com
  
  National Grid is gearing up for a battle with President Trump’s administration over vehicle emissions rules that give a boost to petrol cars over electric ones. The FTSE 100 company is among several large utilities challenging new rules that weaken emissions standards set by the Obama administration and remove the ability of California and other states to set their own emissions rules. National Grid runs Britain’s main gas and power grids but about half of its business is in the US,
  
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• Aviva says executive pay should be the first casualty of Covid cuts

  21-06-2020 17:00 via uk.finance.yahoo.com
  
  Aviva says executive pay should be the first casualty of Covid cuts. Fund manager also warns that sectors hard-hit sectors should not shy away from job cuts
  
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• Aviva says executive pay should be first casualty of Covid cuts

  21-06-2020 17:00 via uk.finance.yahoo.com
  
  Aviva says executive pay should be first casualty of Covid cuts. Fund manager also warns that sectors hard-hit sectors should not shy away from making redundancies
  
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• Coronavirus: UK looks to increase scrutiny of foreign takeovers amid pandemic

  21-06-2020 16:45 via uk.finance.yahoo.com
  
  The government wants to protect companies that, for instance, are working on vaccine research or manufacturing PPE.
  
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• Coronavirus: Government to 'bring forward proposals' on reducing 2m social distancing rule

  21-06-2020 16:00 via bbc.co.uk
  
  Matt Hancock says he "very much hopes" to lower the social distancing measure in England.
  
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• Have £10k to invest in FTSE 100 stocks? I’d buy cheap shares in an ISA today to retire early

  21-06-2020 15:57 via uk.finance.yahoo.com
  
  Many FTSE 100 (INDEXFTSE:UKX) shares are now cheap. Buying them in an ISA could lead to high returns that help you retire early.The post Have £10k to invest in FTSE 100 stocks? I’d buy cheap shares in an ISA today to retire early appeared first on The Motley Fool UK.
  
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• 'All children will be in school in September'

  21-06-2020 15:42 via uk.finance.yahoo.com
  
  Education Secretary Gavin Williamson has confirmed the government "will bring all children, back to school in September".
  
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• German economy has passed low point of crisis, Bundesbank tells newspaper

  21-06-2020 15:26 via uk.finance.yahoo.com
  
  Germany's economy had passed the worst of the crisis caused by the coronavirus outbreak and was now expected to recover gradually, Bundesbank President Jens Weidmann told German newspaper Frankfurter Allgemeine Sonntagszeitung.Restrictions in Germany imposed because of the pandemic are slowly being lifted, allowing economic activity to resume.In June, the ECB downgraded its forecasts for the euro zone, predicting an 8.7% economic contraction in 2020 as its baseline case and a 12.6% fall in its "
  
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• Through the keyhole of some of the UK's most lusted-after properties

  21-06-2020 15:23 via uk.finance.yahoo.com
  
  Traditional 'curb appeal' has been replaced by 'lawn allure' in lockdown.
  
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• Central bank says Wirecard's missing funds didn't enter Philippines

  21-06-2020 14:56 via uk.finance.yahoo.com
  
  BDO Unibank and BPI said documents appearing to show Wirecard had deposited funds with them were false.
  
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• Bank says Wirecard's missing funds didn't enter Philippines

  21-06-2020 14:56 via uk.finance.yahoo.com
  
  BDO Unibank and BPI said documents appearing to show Wirecard had deposited funds with them were false.
  
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• 3 reasons why I’d buy bargain FTSE 100 shares today to become an ISA millionaire

  21-06-2020 14:55 via uk.finance.yahoo.com
  
  The FTSE 100 (INDEXFTSE:UKX) market crash may provide investors with an opportunity to generate high returns, in my opinion.The post 3 reasons why I'd buy bargain FTSE 100 shares today to become an ISA millionaire appeared first on The Motley Fool UK.
  
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• Huawei expected to get approval for UK R&D centre

  21-06-2020 14:34 via uk.finance.yahoo.com
  
  Huawei paid £37.5m ($46.3m) for the 550-acre plot in 2018.
  
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• Italy close to announcing Fiat Chrysler's $7 billion loan, sources say

  21-06-2020 14:11 via uk.finance.yahoo.com
  
  Italy is close to unveiling the approval of guarantees for a 6.3 billion euro (5.67 billion pounds) financing of Fiat Chrysler (FCA) , two sources familiar with the matter said, paving the way for the largest crisis loan for a European carmaker.FCA's Italian division has tapped Rome's COVID-19 emergency financing schemes to secure a state-backed, three-year facility to support the group's operations in the country as well as Italy's car sector, in which about 10,000 businesses operate.The loan w
  
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• UK to seek new powers to scrutinise foreign takeovers

  21-06-2020 14:06 via uk.finance.yahoo.com
  
  Britain will seek changes to the law to allow scrutiny of certain foreign takeovers to ensure they do not threaten the country's ability to tackle public health emergencies such as the coronavirus outbreak."These powers will send an important signal to those seeking to take advantage of those struggling as a result of the pandemic that the UK government is prepared to act where necessary to protect our national security," Business Secretary Alok Sharma said in a statement.
  
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• Sunak eyes VAT cut in bid to boost UK economy

  21-06-2020 14:04
  Pressure on Treasury to take urgent action grows as government prepares to scrap two metre rule this week
  
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• Rishi Sunak eyes VAT cut in bid to boost UK economy

  21-06-2020 14:04
  Pressure on Treasury to take urgent action grows as government prepares to scrap two metre rule this week
  
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• NBA star Marc Gasol shows off quarantine body transformation

  21-06-2020 13:58 via ibtimes.co.uk
  
  The Toronto Raptors player has slimmed down during the quarantine period.
  
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