Business news

• Bundesbank must decide on ECB bond purchases, top court judge says

  28-06-2020 23:34 via uk.finance.yahoo.com
  
  The decision on whether Germany should pull out of the European Central Bank's bond-buying programme lies with the Bundesbank, a judge in Germany's highest court said in remarks published on Sunday.Germany's Constitutional Court ruled in May that the ECB overstepped its mandate with over 2 trillion euros of government bond purchases, ordering the Bundesbank to quit the scheme unless the ECB can prove proportionality within three months.
  
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• Mexican president expects loss of tax-paying jobs to end in July

  28-06-2020 23:10 via uk.finance.yahoo.com
  
  The bleeding of formal jobs in Mexico should end in July and some employment gains are expected no later than August, the president said on Sunday, as he aims to revive the economy following months of coronavirus-led contraction.President Andres Manuel Lopez Obrador said in an eight-minute recorded video message on Sunday that he expects a "fast recovery," noting that after the workforce shed about 900,000 formal jobs in April and May, he expects to lose only 70,000 in June.If the economy does n
  
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• Minister urged to back £5bn investment in GP surgeries

  28-06-2020 22:48 via uk.finance.yahoo.com
  
  MINISTERS are being urged to back a £5bn spending spree on new GP surgeries all over the UK to help the NHS cope with future pandemics and kickstart the economy. The call comes in a letter to Robert Jenrick, the Communities Secretary – who is under pressure for intervening in a planning application by Richard Desmond, the tycoon and Conservative donor – from the UK’s biggest developer of primary care properties, such as surgeries and dentists. Harry Hyman, chief executive
  
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• Britain heading for Brexit 'customs chaos'

  28-06-2020 22:13 via uk.finance.yahoo.com
  
  THE head of the Government’s own expert customs panel has warned of looming chaos at ports after the “amateurish” handling of a new IT system. The Goods Vehicle Movement Service is intended to help goods flow across Britain’s borders and cut queues. Industry groups said they were only notified about the system in the past fortnight. Unlike France, the UK has still not tested its new customs system. Peter MacSwiney, chairman of the HMRC-sponsored joint customs consultative
  
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• Amazon workers in Germany to go on strike over coronavirus infections

  28-06-2020 22:05 via uk.finance.yahoo.com
  
  Workers at six Amazonsites in Germany will go on strike on Monday in protest over safety after some staff at logistics centres tested positive for coronavirus, labour union Verdi said.Verdi said on Sunday that the strike would last at least 48 hours, under the motto 'Good and healthy work', to denounce what it called a lack of transparency by the U.S. retail giant after workers tested positive for COVID-19.Amazon has faced a long-running battle with unions in Germany over better pay and conditio
  
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• Tyrie was ousted in CMA boardroom coup

  28-06-2020 21:36
  Former MP had irked colleagues at competition watchdog with reform plans
  
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• Too-big-to-fail banks mostly a thing of the past, say regulators

  28-06-2020 21:21 via uk.finance.yahoo.com
  
  Reforms to the global financial system following the banking crisis a decade ago have cut the risk of taxpayers having to rescue lenders again but some gaps still need plugging, the Financial Stability Board (FSB) said on Sunday.After the crisis the FSB, which coordinates regulation for the Group of 20 rich and emerging economies (G20), introduced rules that require the world's biggest banks like Goldman Sachs, HSBC and Deutsche Bank, to issue special debt that can be written down in a markets m
  
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• One in seven families struggle to repay mortgages as pandemic hits household incomes, IFS study finds

  28-06-2020 21:20 via uk.finance.yahoo.com
  
  One in seven households, including many middle class homeowners, are falling behind on repaying their mortgages because of the pandemic, according to research by the Institute for Fiscal Studies (IFS). It calculated some 1.4 million homeowners - or 14 per cent of the total - failed to pay their mortgages in May, which added on average around £1,600 to each family's growing household debts Eleven per cent were struggling to make other rental payments such as for cars or other household good
  
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• Starbucks pauses social media ads amid Facebook boycott call

  28-06-2020 20:43 via uk.finance.yahoo.com
  
  Facebook executive Carolyn Everson said earlier this week the social networking platform is committed to purging hateful content from its services.
  
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• U.S. confirms Boeing 737 MAX certification flights could start Monday

  28-06-2020 20:25 via uk.finance.yahoo.com
  
  The Federal Aviation Administration (FAA) confirmed Sunday it had approved key certification test flights for the grounded Boeing737 MAX that could begin as soon Monday.Reuters first reported Saturday the certification flights were expected to begin Monday.Boeing's best-selling 737 MAX has been grounded since March 2019 after two fatal crashes killed 346 people.
  
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• UK Treasury plans Future Fund expansion after demand surge

  28-06-2020 20:00
  Government set to include start-ups that had been blocked after moving headquarters overseas
  
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• UK must reveal state-aid plan to unblock Brexit talks, EU warns

  28-06-2020 20:00
  Brussels says that Britain’s silence on subsidies risks hampering intensified talks starting Monday
  
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• Foreign travel boost as UK gives green light to overseas trips

  28-06-2020 19:49 via uk.finance.yahoo.com
  
  Foreign travel boost as UK gives green light to overseas trips. Operators report big rise in bookings and inquiries and welcome ‘air bridge’ plans
  
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• Exclusive: Facebook ad boycott campaign to go global, organisers say

  28-06-2020 19:30 via uk.finance.yahoo.com
  
  The "Stop Hate for Profit" campaign will begin calling on major companies in Europe to join the boycott, Jim Steyer, chief executive of Common Sense Media, said in an interview with Reuters on Saturday.Since the campaign launched earlier this month, more than 160 companies, including Verizon Communicationsand Unilever Plc , have signed on to stop buying ads on the world’s largest social media platform for the month of July.Free Press and Common Sense, along with U.S. civil rights groups Co
  
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• Starbucks joins Facebook advertising boycott

  28-06-2020 19:15 via uk.finance.yahoo.com
  
  Two of the world’s biggest beverage companies have called time on their Facebook advertising budgets. Seattle coffee chain Starbucks became the latest advertiser to bring its social media marketing spend to a grinding halt yesterday. Earlier in the weekend, FTSE 100 firm Diageo, the drinks maker behind Smirnoff vodka and Guinness, also joined a flood of advertisers warning they would suspend social media spending amid controversies over hate speech. Some of the world’s biggest ad buy
  
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• Starbucks to pause paid advertising across social media to help stop hate speech

  28-06-2020 19:11 via uk.finance.yahoo.com
  
  The company will "have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech," the statement said.A CNBC report on Sunday added that this social media pause by Starbucks will not include YouTube, which is owned by Alphabet Inc'sGoogle.It will continue to post on social media without paid promotion.
  
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• McDonald’s to install electric car charging points at UK restaurants

  28-06-2020 18:55 via uk.finance.yahoo.com
  
  McDonald’s is to install hundreds of charging points for electric cars at its sites across the UK.Through a partnership with electric vehicle charging network InstaVolt, McDonald’s will introduce ports in the car parks of its drive-through restaurants where customers can charge their electric cars.
  
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• Britain's biggest businesses make net zero pledge

  28-06-2020 18:45 via uk.finance.yahoo.com
  
  Some of Britain’s biggest business have committed to cut their carbon emissions to net zero by 2040 as the UK gears up to host crucial international climate talks next year. EasyJet, Pearson, Deloitte, Standard Chartered, Unilever and Severn Trent are among almost 50 public and private companies making the pledge ahead of a major meeting on Monday between ministers and business leaders to discuss how businesses can help protect the environment. The UK has a legally binding target of reachi
  
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• Big tobacco, big oil and Buffett join Fed's portfolio

  28-06-2020 18:25 via uk.finance.yahoo.com
  
  The transactions disclosed Sunday are the first individual company bond purchases made by the Fed under new programs set up to nurse the economy through the coronavirus pandemic.The Fed also added $5.3 billion in 16 corporate bond exchange traded funds, including a newly added sixth high yield fund.The initial round of purchases included bonds from 44 corporate issuers, all bought on the secondary market.
  
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• How to retire rich: I think these are the best UK shares to buy for a V-shaped recovery

  28-06-2020 18:09 via uk.finance.yahoo.com
  
  Many analysts are predicting a sharp rebound for the global economy. Royston Wild looks at some early cycle stocks that could help you retire rich.The post How to retire rich: I think these are the best UK shares to buy for a V-shaped recovery appeared first on The Motley Fool UK.
  
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• The 'biased' code used by British banks could be making decisions that change your life

  28-06-2020 18:03 via uk.finance.yahoo.com
  
  On a hot weekend last June, Sarah Carthen Watson walked to the Hertz airport kiosk, having flown home for a friend’s wedding. It was one in the morning and she was looking forward to driving to her mother’s house. Without a credit card, Carthen Watson information was run through an automated system to see if she was a risk. Despite her good credit score and healthy bank balance, the 26-year-old lawyer was denied the pre-paid Sedan. An expensive Uber journey later, she returned the ne
  
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• Euro zone needs loose monetary policy until inflation target in sight, says Villeroy

  28-06-2020 18:02 via uk.finance.yahoo.com
  
  The European Central Bank will need to keep monetary policyloose until its inflation target is clearly in sight, ECB policymaker Francois Villeroy de Galhau said on Sunday in an interview with Handelsblatt.Inflation in Europe's single currency bloc is at its weakest in four years, standing at just 0.1% in May and forecast to average 0.3% in 2020, far below the ECB's target of close to but less than 2%."We will need a very loose monetary policy until that objective is in plain sight" Villeroy sai
  
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• Euro zone needs loose monetary policy until inflation goal near, says Villeroy

  28-06-2020 18:02 via uk.finance.yahoo.com
  
  The European Central Bank will need to keep monetary policyloose until its inflation target is clearly in sight, European Central Bank policymaker Francois Villeroy de Galhau said on Sunday in an interview with German newspaper Handelsblatt.Inflation in Europe's single currency bloc is at its weakest in four years, standing at 0.1% in May and forecast to average 0.3% in 2020, far below the ECB's target of close to but less than 2%."We will need a very loose monetary policy until that objective i
  
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• Coronavirus: PM 'will not return to austerity of 10 years ago'

  28-06-2020 17:38 via bbc.co.uk
  
  Boris Johnson is to set out his plans for a post-lockdown economic recovery in a speech next week.
  
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• Germany to overhaul accounting regulation after Wirecard scandal

  28-06-2020 17:30 via uk.finance.yahoo.com
  
  Germany’s accounting watchdog is set to be stripped of its powers in the wake of the Wirecard scandal. The government will end its contract with the Financial Reporting Enforcement Panel (FREP) as soon as Monday, according to reports. The job of overseeing company accounts will be taken on by Bafin, Germany’s financial regulator. “We have reached an agreement with the Finance Ministry to terminate the contract,” a Justice Ministry official told the Bild am Sonntag newspap
  
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• NBA insiders claim 2019-2020 season restart is just about the money

  28-06-2020 17:12 via ibtimes.co.uk
  
  With only a month to go before the restart, not everyone is convinced it is a good idea to finish the NBA season.
  
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• Germany to sever ties with accounting watchdog after Wirecard scandal

  28-06-2020 17:07 via uk.finance.yahoo.com
  
  The German government plans to terminate its contract with the country's accounting watchdog after payments company Wirecard filed for insolvency last week in one of Germany's biggest fraud scandals, a government official said on Sunday.Bild am Sonntag newspaper reported earlier on Sunday that the Justice and Finance Ministries would on Monday cut ties with the Financial Reporting Enforcement Panel (FREP), a quasi-private entity that supervises the financial statements of listed firms."We have r
  
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• Boeing set for critical 737 Max flight tests

  28-06-2020 16:47 via bbc.co.uk
  
  US regulators may start tests this week as Boeing bids to clear a milestone for the crisis-hit aircraft.
  
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• Virgin Atlantic seeks urgent rescue package worth up to £900m

  28-06-2020 16:45 via uk.finance.yahoo.com
  
  Virgin Atlantic seeks urgent rescue package worth up to £900mAirline sets ‘informal deadline’ of early July to finalise deal after slump in travel during coronavirus pandemic
  
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• IAG reviewing planned acquisition of Air Europa, says Iberia CEO

  28-06-2020 16:43 via uk.finance.yahoo.com
  
  International Consolidated Airlines Groupis reviewing its planned 1 billion euro (892 million pounds) acquisition of Air Europa because of the harsh economic climate caused by COVID-19, the CEO of IAG-owned Iberia was quoted on Sunday as saying.There has been speculation that IAG, which also owns British Airways, could look to walk away from the acquisition of Spanish carrier Air Europa, announced last November, or try to negotiate a lower price.Luis Gallego, CEO of Iberia and due to take over a
  
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• Coronavirus: Ryanair threatens job losses if pilots don't accept pay cuts

  28-06-2020 16:10 via uk.finance.yahoo.com
  
  The airline wants pay cuts of up to 20%.
  
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• Coronavirus: Ryanair threatens job losses if pilots don't accept pay cut

  28-06-2020 16:10 via uk.finance.yahoo.com
  
  The airline wants pay cuts of up to 20%.
  
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• Back us or risk losing half UK's public leisure centres, industry warns

  28-06-2020 15:59 via uk.finance.yahoo.com
  
  Back us or risk losing half UK's public leisure centres, industry warnsTrade bodies urge MPs to act to plug £800m shortfall caused by Covid-19 lockdown* Coronavirus – latest updates* See all our coronavirus coverage
  
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• British Airways sacks 350 pilots and puts 300 in 'pool' for rehire - The Sun

  28-06-2020 15:57 via uk.finance.yahoo.com
  
  Once 'pooled' pilots return, operating flight crew members will get 7.5% of their deducted pay back, while the rest of the pay cut will be lost, the report added.British Airways, owned by International Consolidated Airlines Group , which also owns Aer Lingus, Iberia and Vueling, said in an emailed statement that "constructive talks are ongoing with (UK pilots union) BALPA to save as many jobs as possible."BALPA did not immediately respond to a request for comment.
  
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• Stock market crash: 6 dividend-paying bargains I’m thinking of buying for my ISA

  28-06-2020 15:33 via uk.finance.yahoo.com
  
  Don't fear stock market crashes. For savvy investors, they provide great buying opportunities like these dividend stocks, says Royston Wild.The post Stock market crash: 6 dividend-paying bargains I’m thinking of buying for my ISA appeared first on The Motley Fool UK.
  
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• NBA roster changes for league restart in Disney World

  28-06-2020 15:33 via ibtimes.co.uk
  
  With the league restart quickly approaching, teams have been making the necessary changes to be prepared.
  
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• Is plaster the new toilet roll? Lockdown DIY binge stretches UK supplies

  28-06-2020 15:30 via uk.finance.yahoo.com
  
  Is plaster the new toilet roll? Lockdown DIY binge stretches UK suppliesCement, plaster, fence panels, paint and power tools in huge demand as DIY shops report up to 250% sales rise
  
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• Monte Paschi board seen meeting Monday on plan to shed bad loans - source

  28-06-2020 14:57 via uk.finance.yahoo.com
  
  The board of Monte dei Paschi di Sienais expected to meet on Monday to approve a plan to reduce its burden of bad loans, a source familiar with the matter said, without giving further details.Italy's Treasury, which owns 68% of Monte Paschi, has been seeking to help it reduce impaired loans to around 5% of total lending to make it a more an attractive merger partner, without imposing excessive losses on the fragile bank.
  
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• Coronavirus lockdown may cut Irish house building by 33% - new minister

  28-06-2020 14:52 via uk.finance.yahoo.com
  
  The coronavirus lockdown of Ireland's economy and subsequent restrictions on construction upon its reopening could cut the much needed building of new homes by a third, Housing Minister Darragh O'Brien said on Sunday.Building sites reopened in the middle of May but at limited capacity, which O'Brien, who was appointed on Saturday, suggested may mean fewer than 9,000 homes would be added to the 4,986 completed in the first quarter.House completions rose by 18% year-on-year to over 21,000 last yea
  
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• Hitachi says it has no plans to sell British nuclear project to China

  28-06-2020 14:47 via uk.finance.yahoo.com
  
  Japanese conglomerate Hitachi Ltdsaid on Sunday it has no plans to sell a stalled British nuclear power project to China.The group's statement followed a report in Britain's Sunday Times newspaper that U.S. President Donald Trump's administration has warned Hitachi not to sell its nuclear site in Anglesey, Wales, to China."We are not aware of any plans to sell the project to China," Hitachi said.
  
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• Forget gold! I’d buy the FTSE 100 to get rich and retire early

  28-06-2020 14:45 via uk.finance.yahoo.com
  
  Buying stocks, such as those in the FTSE 100, has produced significantly better returns than gold over the long term says Rupert Hargreaves. The post Forget gold! I'd buy the FTSE 100 to get rich and retire early appeared first on The Motley Fool UK.
  
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• Harry and Meghan urge business chiefs to back Facebook boycott groups

  28-06-2020 14:36 via uk.finance.yahoo.com
  
  The Duke and Duchess of Sussex have spoken behind the scenes with a number of organisations leading the Stop Hate for Profit campaign.
  
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• Car insurance prices declining in 2020

  28-06-2020 14:13 via uk.finance.yahoo.com
  
  Car insurance prices are declining, but still higher than they were 12 months ago.
  
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• Schools need 'clarity' on plans to open

  28-06-2020 14:12 via uk.finance.yahoo.com
  
  Coronavirus has hit schools hard with many struggling to see how time lost in the pupils education can be regained.
  
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• NBA to allow social justice statements on jerseys

  28-06-2020 14:07 via ibtimes.co.uk
  
  Players will be allowed to replace their name at the back of their playing jersey.
  
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• McCarthy & Stone boss: Stamp duty cuts would get the economy moving again

  28-06-2020 14:01 via uk.finance.yahoo.com
  
  It wasn’t the 18th birthday celebration that either imagined, but when John Tonkiss took his daughter to a drive-through McDonald’s for her big day in mid-June, it marked a sliver of normality after the height of the coronavirus pandemic. “It’s strange how much you can look forward to something like that,” says Tonkiss, flashing a Ronald McDonald-worthy grin over Zoom. As chief executive of McCarthy & Stone, the UK’s leading retirement housing developer, h
  
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• 3 reasons why there really might be a 2nd stock market crash

  28-06-2020 13:55 via uk.finance.yahoo.com
  
  Will there be a second stock market crash? Won't there? That's what's on everybody's lips right now. Here are three things that could trigger it.The post 3 reasons why there really might be a 2nd stock market crash appeared first on The Motley Fool UK.
  
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• Coronavirus: Majority of Brits stressed about finding a new job

  28-06-2020 13:38 via uk.finance.yahoo.com
  
  A third of Brits are putting their search on hold due to COVID-19.
  
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• Want to retire early? I think these are 2 of the best UK shares with 5%+ dividends

  28-06-2020 13:27 via uk.finance.yahoo.com
  
  Looking to get rich and retire early? These dirt-cheap dividend dynamos could help you do just that, explains Royston Wild.The post Want to retire early? I think these are 2 of the best UK shares with 5%+ dividends appeared first on The Motley Fool UK.
  
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• Portugal PM backs Spain's Calvino as candidate to head Eurogroup

  28-06-2020 13:19 via uk.finance.yahoo.com
  
  Portugal backs the candidacy of Spanish Economy minister Nadia Calvino to head the Eurogroup, the country's Prime Minister Antonio Costa said in an interview on Sunday.Calviño, 51, who is also vice-president of the Spanish left-wing coalition government, is seen as a frontrunner to succeed Portugal's outgoing finance minister, Mario Centeno, at the Eurogroup's helm.
  
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