Business news

• PM Johnson to tell firms to order staff back to workplaces - Daily Mail

  10-07-2020 23:57 via uk.finance.yahoo.com
  
  British Prime Minister Boris Johnson will tell employers next week to start ordering staff back into their places of work, as long as it is safe to do so, in order to stem the coronavirus hit to the economy, the Daily Mail said.Johnson has told top civil servants to set an example by starting to return staff to their desks and he has also asked companies including Goldman Sachs to get more employees back after working from home, the newspaper said.The prime minister would announce the change in
  
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• Rishi Sunak's 'Kickstart' jobs scheme: Back to the future?

  10-07-2020 23:55 via bbc.co.uk
  
  What do those who were on Labour's 2009 Future Jobs Fund say about Rish Sunak's "Kickstart" programme?
  
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• Coronavirus: Emirates set to cut 9,000 jobs, citing pandemic

  10-07-2020 23:52 via bbc.co.uk
  
  The Middle Eastern airline will make more redundancies but says it is 'not as badly off as others'.
  
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• Free home insulation: Too good to be true?

  10-07-2020 23:51 via bbc.co.uk
  
  Questions remain over the Green Homes Grant, which aims to make homes more energy efficient.
  
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• Amazon says email to employees banning TikTok was a mistake

  10-07-2020 23:46 via uk.finance.yahoo.com
  
  The app is popular with young people, including millions of American users, but is the subject of national security concerns.
  
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• Amazon tells employees to delete TikTok – then walks it back

  10-07-2020 23:28 via uk.finance.yahoo.com
  
  Amazon tells employees to delete TikTok – then walks it back. Email to some workers calling for removal of app due to ‘security risks’ was sent in error, spokesperson says
  
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• Twitter founder Jack Dorsey donates $3m to universal basic income scheme in US cities

  10-07-2020 23:05 via uk.finance.yahoo.com
  
  Twitter boss Jack Dorsey has backed a scheme to provide US citizens with a universal basic income. He has invested $3m (£2.4m) in the initiative, which is being tested by mayors of 16 cities in the United States. The scheme is “one tool to close the wealth and income gap,” the billionaire said. Mayors for Universal Basic Income was launched on June 29 by Michael Tubbs, the mayor of Stockton, California. The 29-year-old has been running a pilot there since 2018, paying $500 (&po
  
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• Activists urge more scrutiny of standards in trade deals

  10-07-2020 23:00
  Environmental and welfare groups demand say over global Britain trade policies
  
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• Atlantia ready to give up control of Autostrade as pressure builds

  10-07-2020 22:50 via uk.finance.yahoo.com
  
  Italian infrastructure group Atlantiais ready to give up control of its motorway operator Autostrade per l'Italia to help resolve its long-running dispute with the government, people familiar with the matter said on Friday.The group, controlled by the powerful Benetton family, has given a mandate to its chief executive and chairman to write to the government by Monday with new concessions, including the offer to give up control of the unit, one person said.Two other sources, who spoke on conditi
  
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• 'I left Smile Bank today due to the ongoing outage'

  10-07-2020 22:47 via bbc.co.uk
  
  Smile Bank customers have been unable to access their accounts for days due to an ongoing outage.
  
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• Two arrested for Covid loans scheme scam as £4.6 billion taxpayers' cash at risk from fraudsters, says study

  10-07-2020 22:45 via uk.finance.yahoo.com
  
  Two men have been arrested on suspicion of defrauding the Covid-19 bounce back loan scheme, as a think tank warned fraud and error during the crisis could cost the taxpayer £4.6 billion. One of the men arrested by Scotland Yard, who was in his 40s, was caught recruiting people to use their personal details to set up limited companies and bank accounts to defraud the scheme and launder the money. Application forms from a number of suspected fake companies to their banks requesting “bo
  
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• UK expected to order removal of Huawei 5G equipment by 2025 - Telegraph

  10-07-2020 21:59 via uk.finance.yahoo.com
  
  Britain's government is expected to set a deadline of 2025 for removing equipment made by China's Huawei from the country's 5G telecoms networks, the Telegraph newspaper said on Friday.Britain in January capped Huawei's role in its 5G networks at 35% and barred it from the most sensitive parts of the system.The government has said recently that U.S. sanctions on chip technology could damage Huawei's ability to supply crucial networking equipment.
  
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• Liz Truss: US trade deal ‘won’t mean lower food standards’

  10-07-2020 21:56 via bbc.co.uk
  
  Liz Truss says the UK will not be pushed into a trade deal that lowers food standards.
  
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• G4S drafts £38.5m deal to settle tagging scandal with fraud office

  10-07-2020 21:37
  SFO says group’s subsidiary misled Ministry of Justice about true extent of profits
  
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• How Boohoo came to rule the roost in Leicester’s underground textile trade

  10-07-2020 21:30
  Online retailer is the biggest buyer from garment workshops in a city battling claims over poor working conditions
  
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• Atlantia gives CEO mandate to make concessions on motorway licence - source

  10-07-2020 21:17 via uk.finance.yahoo.com
  
  The board of infrastructure group Atlantiahas given a mandate to its CEO and Chairman to draft a letter, together with tollroad unit Autostrade, with an improved proposal to settle a dispute over its motorway concession with the government, a source close to the matter said.In the proposal Atlantia, which owns 88% of Autostrade, will say it is open to cutting its stake in the unit below 50% to make room for a state-backed investor, the source added.Atlantia declined to comment.
  
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• Deadline of 2025 to be set on culling Huawei kit

  10-07-2020 20:42 via uk.finance.yahoo.com
  
  The Culture Secretary is poised to announce a 2025 deadline to strip Huawei from the UK’s 5G network. On Tuesday, Oliver Dowden will make a statement in the House of Commons where he will discuss the future of the Chinese giant in Britain’s telecoms infrastructure. Ministers have indicated that they want Huawei’s hardware removed from the network within five years. Tory MPs have pressed Boris Johnson to speed up the process to 2023. However, BT and Vodafone warned of widespread
  
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• Fiat Chrysler recalls more than 900,000 U.S. vehicles due to faulty air bag covers

  10-07-2020 20:36 via uk.finance.yahoo.com
  
  The recall is limited to 2007-2011 Dodge Nitro SUVs, 2008-2010 Chrysler Town & Country and Dodge Grand Caravan minivans, the Italian-American automaker said.The move follows an FCA investigation that found these vehicles were equipped with certain clips that may loosen and disengage over time, and in case of a driver-side air bag deployment the clips could act as projectiles.Fiat Chrysler said none of the potential injuries involved occupants of front-passenger or rear seats and that the air
  
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• Amazon bars video app TikTok on workers’ phones, reports say

  10-07-2020 20:13 via uk.finance.yahoo.com
  
  The app is popular with young people, including millions of American users, but is the subject of national security concerns.
  
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• Amazon orders employees to delete TikTok due to 'security risks'

  10-07-2020 20:00 via uk.finance.yahoo.com
  
  Amazon has told its staff to delete TikTok from their work phones due to "security risks", amid growing concerns in the West about the Chinese viral video app. In an internal memo on Friday, the online shopping giant told workers to remove TikTok from any mobile device with access to company email before the end of the day. TikTok is alreayd under investigation in both the UK and the United States and is facing a potential US ban, having already been barred from India last month. Officials claim
  
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• Amazon backtracks after telling employees to delete TikTok due to 'security risks'

  10-07-2020 20:00 via uk.finance.yahoo.com
  
  Amazon has backtracked after telling its staff to delete TikTok from their work phones due to "security risks", amid growing concerns in the West about the Chinese viral video app. In an internal memo on Friday, the online shopping giant told workers to remove TikTok from any mobile device with access to company email before the end of the day. However, hours after the warning was published, Amazon said that the email was mistakenly sent to staff. "This morning’s email to some of our emplo
  
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• Food prices to go up from 1 January unless UK reaches EU trade deal, retailers warn

  10-07-2020 19:56 via uk.finance.yahoo.com
  
  The cost of food including beef mince, oranges, cheese and cucumbers will go up from the start of next year if the UK fails to agree a trade deal with the EU, retailers have warned.The British Retail Consortium said prices of clothes, footwear and furniture are also likely to rise, as tariffs are placed on a broad range of imported goods.
  
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• Qiagen shareholder Davidson Kempner says Thermo Fisher offer 'inadequate'

  10-07-2020 19:52 via uk.finance.yahoo.com
  
  The investment manager, which owns a 3% stake in Qiagen, said Thermo Fisher's offer of 39 euros (34.9 pounds) per share was not adequate and believed the standalone fair value to be about 50 euros per share.Thermo Fisher agreed in early March to buy Qiagen for $11.5 billion to bolster its health diagnostic business, and asked the company's investors to tender their shares in May.Qiagen reported a preliminary 18%-19% rise in sales and a 68% rise in earnings per share in the second quarter due to
  
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• G4S to pay out £44m to settle electronic-tagging fraud case

  10-07-2020 19:50 via uk.finance.yahoo.com
  
  G4S Care & Justice will pay a £38.5 million fine and cover the SFO’s £5.9 million in costs related to the case.
  
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• G4S fined £44m by Serious Fraud Office over electronic tagging

  10-07-2020 19:44 via uk.finance.yahoo.com
  
  G4S fined £44m by Serious Fraud Office over electronic taggingAgreement means security firm will avoid prosecution for overcharging the government for tagging offenders
  
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• The billionaire Boohoo family who started with a market stall in Manchester

  10-07-2020 19:23 via uk.finance.yahoo.com
  
  The billionaire Boohoo family who started with a market stall in Manchester. Founders prepare for huge pandemic payout as booming online UK fashion empire snaps up established brands
  
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• Amazon.com bans, then un-bans TikTok app from employee mobile devices

  10-07-2020 19:17 via uk.finance.yahoo.com
  
  The news generated widespread attention for the Chinese-owned social media platform coming the same week U.S. Secretary of State Mike Pompeo said the United States is "certainly looking at" banning TikTok, suggesting it shared information with the Chinese government.It was not immediately clear what led to the initial ban by Amazon.One person familiar with the matter said senior Amazon executives were unaware of the request to delete TikTok from employee devices.
  
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• G4S pays £44m to settle prisoner tagging fraud case

  10-07-2020 19:10 via uk.finance.yahoo.com
  
  G4S has agreed a preliminary deal with the Serious Fraud Office (SFO) to end an investigation into fraud offences related to the security outsourcer overcharging the Government to monitor electronically “tagged” offenders. Almost a decade ago the FTSE 100 company ran into trouble after it emerged that for years it had overcharged the taxpayer to monitor offenders. In some cases it is alleged that criminals thought to have been tagged turned out to be dead, back in prison or had their
  
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• UK government bond yields hit record lows as investor nerves linger

  10-07-2020 19:03 via uk.finance.yahoo.com
  
  Yieldson short-dated UK government debt yesterday hit record lows after bond markets wobbled on worries over accelerating Covid-19 case. Investors sought safety in government bonds worldwide, as investors fret over the rise in coronavirus cases in the US, pushing short-dated gilt yields deeper into negative territory. The two-year and five-year gilt yields hit all-time lows of minus 0.113pc and minus 0.08pc, respectively. Analysts also pinned rising bond prices on signs of appetite for safer gov
  
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• Gilt yields hit new record lows

  10-07-2020 19:03 via uk.finance.yahoo.com
  
  Yieldson short-dated UK government debt yesterday hit record lows after bond markets wobbled on worries over accelerating Covid-19 case. Investors sought safety in government bonds worldwide, as investors fret over the rise in coronavirus cases in the US, pushing short-dated gilt yields deeper into negative territory. The two-year and five-year gilt yields hit all-time lows of minus 0.113pc and minus 0.08pc, respectively. Analysts also pinned rising bond prices on signs of appetite for safer gov
  
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• Boris Johnson urges Britons: ‘Go back to work if you can’

  10-07-2020 18:50 via uk.finance.yahoo.com
  
  The Prime Minister also hinted that stricter rules on wearing face coverings in public places may be introduced.
  
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• Johnny Depp departs court on fourth day of trial

  10-07-2020 18:44 via uk.finance.yahoo.com
  
  The fourth day of Johnny Depp's libel action against News Group Newspapers wraps up at the Royal Courts of Justice.
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• 1 FTSE 100 share I think may help make you a million

  10-07-2020 18:43 via uk.finance.yahoo.com
  
  David Barnes asks whether an investment in this FTSE 100 healthcare stalwart could help make you a million as part of a diverse share portfolio?The post 1 FTSE 100 share I think may help make you a million appeared first on The Motley Fool UK.
  
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• Top investor dumps Boohoo after 'inadequate' response to sweatshop claims

  10-07-2020 18:36 via uk.finance.yahoo.com
  
  Embattled fast fashion firm Boohoo suffered a fresh blow on Friday after one of its biggest investors sold down its stake and labelled the firm's response to illegal pay allegations "inadequate". The £3.5bn company's efforts to defend itself against sweatshop claims were dismissed by Standard Life Aberdeen, previously one of Boohoo’s biggest investors, which has now sold most of its 3pc holding in the company. Boohoo has insisted there is no evidence its suppliers are paying staff le
  
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• What Features Will The New iPhone Have?

  10-07-2020 18:35 via ibtimes.co.uk
  
  If you are an Apple lover, you will be glad to know that a new iPhone will be released soon. Every few years Apple introduces a new iPhone incarnation - each one being better than the last - with all the new exciting updates, features and technology ready for you to explore.
  
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• London markets bounce amid reports of progress for Covid-19 drug

  10-07-2020 18:35 via uk.finance.yahoo.com
  
  The FTSE 100 closed 45.79 points higher at 6,095.41p at the end of trading on Friday.
  
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• What Were the Most Profitable Industries Last Year?

  10-07-2020 18:32 via ibtimes.co.uk
  
  Each year, many industries make a lot of profit for the services or products they create and sell. With so many industries, there are a few in particular that outshine the rest which includes the iGaming industry, tech, retail and more.
  
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• Trump says he is not thinking about a 'Phase 2' U.S.-China trade deal

  10-07-2020 18:25 via uk.finance.yahoo.com
  
  Trump, asked by reporters aboard Air Force One about the possibility of second phase trade deal following implementation of a Phase 1 agreement this year, said "I don't think about it now," adding that he has many other things on his mind.
  
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• Amazon begins rolling out bigger UPS and FedEx-style delivery trucks

  10-07-2020 18:20 via uk.finance.yahoo.com
  
  Amazon.com is launching a new fleet of bigger, boxier trucks like those favored by rival package carriers United Parcel Service Inc and FedEx Corp, as it fights to fix widespread pandemic-fueled delivery delays that sent customers into the arms of competitors like Walmart Inc.The world's largest online retailer ordered more than 2,200 heavy-duty Utilimaster "walk-in" delivery trucks from Shyft Group, a Michigan-based specialty vehicle company, an Amazon spokeswoman told Reuters.The company decli
  
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• G4S ends tagging inquiry with £44 million UK fraud office deal

  10-07-2020 18:18 via uk.finance.yahoo.com
  
  The SFO began investigating G4S and Sercoin 2013 over bills charged to the British government for tagging people who were either dead, in prison or had not been tagged."We have apologised to the UK Government and implemented significant changes to people, policies, practices and controls," G4S Chief Executive Ashley Almanza said.
  
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• Investors keep away from sterling in uncertain times

  10-07-2020 18:13 via uk.finance.yahoo.com
  
  This leaves sterling traders unsure how to approach the pound and the currency driven mostly by external factors.Stephen Gallo, currency analyst at BMO Capital Markets, thinks the pound will weaken given that countries that are net exporters have an advantage over Britain.
  
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• Posting holiday pics on social media could invalidate insurance claims for burglary, says Denise Van Outen

  10-07-2020 18:09 via uk.finance.yahoo.com
  
  Holiday makers who post pictures on social media may not be covered by insurance if they are burgled, a TV presenter warned. Denise Van Outen, who starred alongside boyfriend Eddie Boxhall on Celebrity Gogglebox, told a podcast that her house had been broken into just 30 minutes after she posted a snap of herself abroad online. She claimed you are not covered by your home insurance if you post a holiday pic. However, industry sources said most insurance policies would not reject a claim based on
  
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• Royal Mail fined £1.6m for delivering letters late and overcharging on stamps

  10-07-2020 18:06 via uk.finance.yahoo.com
  
  Royal Mail has been fined £1.6m for delivering letters late and overcharging for stamps. The communications watchdog said the privatised postal service missed its target of delivering 93 per cent of first-class post within one working day.In the 2018-19 financial year, only 91.5 per cent arrived within a day, Ofcom said on Friday.
  
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• Buffett's Berkshire Hathaway reduces share count, suggesting possible buybacks

  10-07-2020 18:03 via uk.finance.yahoo.com
  
  The reduction in the conglomerate's outstanding shares was noted in a Wednesday filing concerning Buffett's $2.9 billion donation of Berkshire stock to five nonprofits, part of his pledge to give away nearly all his fortune.If Berkshire repurchased those shares, it might have conducted roughly $4.9 billion to $5.9 billion of buybacks, depending on the price, over 2-1/2 months, analysts said."It implies relatively strong buyback activity," said James Shanahan, an Edward Jones & Co analyst wit
  
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• Accused Ghosn escape plotters too much flight risk for bail - U.S. judge

  10-07-2020 17:48 via uk.finance.yahoo.com
  
  A U.S. judge said on Friday two Massachusetts men pose too great of a risk of flight to be released on bail given "spectacular" allegations that they helped orchestrate former Nissan Motor Co Chairman Carlos Ghosn's escape from Japan.U.S. Magistrate Judge Donald Cabell said U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, had also failed to show they would likely succeed in fighting the charges underlying Japan's recent request for their extradition.
  
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• Estate agents in England report surge of interest as tax cut spurs on homebuyers

  10-07-2020 17:47 via uk.finance.yahoo.com
  
  Estate agents in England report surge of interest as tax cut spurs on homebuyers. Fears stamp duty holiday could be swallowed up by competitive house bidding
  
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• Bank of England: Low rates and QE 'better for young than old'

  10-07-2020 17:28 via uk.finance.yahoo.com
  
  A study says most people are still better off from monetary easing, despite some arguing it has worsened inequality by pushing up asset prices.
  
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• Boohoo action on exploitation claims 'inadequate'

  10-07-2020 17:26 via bbc.co.uk
  
  One of the fashion firm's biggest shareholders dumps stock amid reports over poor working conditions.
  
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• Homophobic group threatens to target LGBT activists in Europe

  10-07-2020 17:24 via ibtimes.co.uk
  
  A Russian gang has called for the attack on LGBT activists across Europe to "regulate" LGBT activism.
  
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• Exclusive - Lonza expects EPA approval coming "very soon" to make COVID-killing claims for disinfectants on surfaces

  10-07-2020 17:24 via uk.finance.yahoo.com
  
  Earlier this week, Reckitt Benckiser Group Plc became the first company to win the U.S. Environmental Protection Agency’s approval to market two of its Lysol disinfectant sprays as household COVID-19 killers.Reuters previously reported that Reckitt had procured a strain of the virus from an independent lab, for testing.The EPA’s approval allows Reckitt to claim that Lysol can kill the novel coronavirus, or the SARS-CoV-2, on surfaces.
  
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