Business news

• 'Let's get going': UK tells businesses to prepare for Brexit crunch

  12-07-2020 23:36 via uk.finance.yahoo.com
  
  Britain is urging businesses and individuals to prepare for the Dec. 31 end of the Brexit transition period with an information campaign titled: "The UK's new start: let's get going."Britain left the European Union on Jan. 31, three and a half years after a referendum, but a transition period has delayed any major change in the relationship.Cabinet Minister Michael Gove said on Sunday progress was being made in talks but there were still divisions.
  
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• New advertising campaign to prepare Britain for Brexit

  12-07-2020 23:33
  Ministers seek to ensure businesses and citizens are ready for end of transition period
  
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• Airports in England warn of 20,000 job losses unless Government waives business rates for a year

  12-07-2020 23:14 via uk.finance.yahoo.com
  
  Airports are set to axe up to 20,000 jobs unless the Government intervenes by waiving business rates to help them cope with the Covid-19 crisis, ministers have been warned. The Airports Operators Association (AOA) today (Mon) announces its appeal for urgent business rates relief to bring the industry in line with the hospitality, leisure and retail sectors and other nations that have benefited from such support. It says the failure of the Government to provide business rates relief has made the
  
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• FTSE set to rise on recovery optimism – live updates

  12-07-2020 22:44 via uk.finance.yahoo.com
  
  Airports ‘may cut 20,000 jobs’ unless rates relaxed FTSE 100 set to open in the green Asian markets rally Roger Bootle: Sunak’s largesse may come back to bite us, but it is still the right choice Sign up here for our daily business briefing newsletter
  
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• FTSE rises on recovery optimism – live updates

  12-07-2020 22:44 via uk.finance.yahoo.com
  
  Airports ‘may cut 20,000 jobs’ unless rates relaxed FTSE 100 opens in the green Asian markets rally Roger Bootle: Sunak’s largesse may come back to bite us, but it is still the right choice Sign up here for our daily business briefing newsletter
  
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• UK becomes 'zombie' business capital of Europe

  12-07-2020 22:20 via uk.finance.yahoo.com
  
  Britain has become Europe’s “zombie” capital, accounting for a third of the region’s indebted companies kept alive by record low interest rates and bailouts. The share of UK non-financial businesses which were "zombies" has jumped six percentage points to 15pc in the last year, the highest level in Europe, according to data from Bank of America. Its analysts found the Covid-19 shock triggered a “surge” in the number of European zombies in the first quarter, an
  
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• Growing fears that £1bn contract to build ships could be abandoned

  12-07-2020 21:55 via uk.finance.yahoo.com
  
  Fears are growing that a £1bn-plus contract to build ships to supply the Navy’s new aircraft carriers could be abandoned in expected defence cuts, damaging Britain’s struggling shipbuilding industry. Bidding to build up to three “fleet solid support” (FSS) ships to supply aircraft carriers with stores such as ammunition and food was halted in the autumn when none of the bidders could meet the terms required. Now defence insiders say the programme is seen as likely t
  
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• Virus outbreak on UK farm forces 200 workers to self-isolate

  12-07-2020 21:46
  All employees at the Herefordshire site are being tested after 73 cases emerge
  
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• Business, labour groups urge G20 to extend, expand debt freeze for poorer countries

  12-07-2020 21:27 via uk.finance.yahoo.com
  
  The International Chamber of Commerce, a global trade union and civil society groups urged the Group of 20 major economies to extend and expand a freeze in debt service payments to help not just the poorest, but also middle-income countries, weather the coronavirus pandemic and its economic fallout.The ICC, International Trade Union Confederation, and Global Citizen, a group pushing to end extreme poverty by 2030, also called on G20 finance ministers, who will meet online on July 18, to take add
  
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• Business, labor groups urge G20 to extend, expand debt freeze for poorer countries

  12-07-2020 21:27 via uk.finance.yahoo.com
  
  The International Chamber of Commerce, a global trade union and civil society groups urged the Group of 20 major economies to extend and expand a freeze in debt service payments to help not just the poorest, but also middle-income countries, weather the coronavirus pandemic and its economic fallout.The ICC, International Trade Union Confederation, and Global Citizen, a group pushing to end extreme poverty by 2030, also called on G20 finance ministers, who will meet online on July 18, to take add
  
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• Industry calls for more free ports as it warns Chancellor he risks leaving coastal towns behind

  12-07-2020 21:04 via uk.finance.yahoo.com
  
  The national association for ports has called on the Chancellor to create more than 10 free ports or risk distorting competition and leaving behind some coastal towns in the Government’s “levelling up” agenda. A 10-week government consultation ends this week on plans to attract investment into post-industrial coastal areas by creating zones where goods do not face tariffs or other taxes usually slapped on imports, alongside other incentives including research and development ta
  
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• Primark rejects UK government’s furlough bonus

  12-07-2020 19:58
  Decision by the discount retailer will put the response of other large employers under scrutiny
  
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• John Lewis joins Primark in decision not to claim from Sunak's furlough bonus scheme

  12-07-2020 19:53 via uk.finance.yahoo.com
  
  The retail giant John Lewis will reject the Chancellor’s offer of £1000 for every furloughed worker brought back to the shop floor, following similar announcements from Primark and the bookmakers William Hill, The Telegraph has learnt. John Lewis, which furloughed 14,000 shop workers at the start of the crisis, is not expected to collect any money from the Treasury’s job retention bonus, announced last week by Rishi Sunak, the Chancellor. The retailer has already announced eigh
  
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• Telecoms firms call for target on pulling out Huawei kit to be eased

  12-07-2020 19:49 via uk.finance.yahoo.com
  
  Britain’s telecom companies may push the Government to scrap its initial targets to strip most Huawei kit from their networks by 2023 if tighter restrictions on the Chinese giant are announced this week. In January, the Government told providers that Huawei kit could only be used in the “non-core” elements of the 5G network and that there would be a 35pc cap on its use in the wider network by 2023. On Tuesday, the Government is expected to announce a total ban on all Huawei gea
  
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• Telcos may push to drop Huawei 2023 targets

  12-07-2020 19:49 via uk.finance.yahoo.com
  
  Britain’s telecom companies may push the Government to scrap its initial targets to strip most Huawei kit from their networks by 2023 if tighter restrictions on the Chinese giant are announced this week. In January, the Government told providers that Huawei kit could only be used in the “non-core” elements of the 5G network and that there would be a 35pc cap on its use in the wider network by 2023. On Tuesday, the Government is expected to announce a total ban on all Huawei gea
  
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• Leicester hits out at ministers over labour abuse claims

  12-07-2020 19:41
  City’s deputy mayor accuses the government of failing to understand the issues
  
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• BDO audit split likely to see other accounting firms following suit

  12-07-2020 18:59 via uk.finance.yahoo.com
  
  The main challenger to the Big Four accounting firms is planning to split its audit practice from its advisory business to convince clients it can match its larger rivals on audit quality. BDO, the UK’s fifth largest audit firm, is understood to have indicated to the accounting watchdog that it expects to follow the Big Four by ringfencing its audit business. The Financial Reporting Council last week told the Big Four – Deloitte, EY, KPMG and PwC – to outline by October how the
  
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• Primark turns down £30m windfall from job retention bonus

  12-07-2020 18:54 via uk.finance.yahoo.com
  
  Primark turns down £30m windfall from job retention bonus. Retailer says it isn’t necessary to tap into UK scheme paying £1,000 per worker brought back from furlough
  
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• WeWork on track to turn a profit by 2021

  12-07-2020 18:33 via uk.finance.yahoo.com
  
  WeWork is on track to turn a profit a year earlier than predicted.
  
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• Post-furlough sums don’t add up for me

  12-07-2020 18:19 via uk.finance.yahoo.com
  
  Post-furlough sums don’t add up for me. With his £1,000-per-employee bonus plan, the chancellor is effectively saying, ‘If you give me £3, I’ll give you £2 in return’, writes Chris Simmonds
  
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• Coronavirus: I trust people's sense on face masks - Gove

  12-07-2020 18:15 via bbc.co.uk
  
  Minister Michael Gove says he does not think face coverings should be mandatory in shops in England.
  
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• Johnson set to curb Huawei role in UK’s 5G networks

  12-07-2020 18:09
  Ban to take effect within months after pressure from Tory rebels and Washington
  
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• Boris Johnson set to curb Huawei role in UK’s 5G networks

  12-07-2020 18:09
  Ban to take effect within months after pressure from Conservative party rebels and Washington
  
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• Business and politicians wary of UK plan for low-tax trade zones

  12-07-2020 18:07
  Government edges closer to creating freeports, but critics question their benefit
  
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• Coronavirus: Primark says no to £30m job retention bonus

  12-07-2020 17:44 via bbc.co.uk
  
  The retailer will not apply for the state-funded scheme that pays to keep furloughed staff.
  
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• Coronavirus: Government urged to end restrictions on financial help for immigrants

  12-07-2020 17:35 via uk.finance.yahoo.com
  
  Scottish ministers are calling on Westminster to suspend restrictions that deny some immigrants to the UK financial help.
  
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• Volkswagen to replace head of software division- Handelsblatt

  12-07-2020 17:18 via uk.finance.yahoo.com
  
  Volkswagenis replacing its head of software development, newspaper Handelsblatt reported on Sunday, as the German carmaker wrestles with the transition to electric vehicles.The newspaper said Christian Senger, a former BMW manager who runs the recently founded Car.Software.Org unit, was to be replaced after clashes with the company and concern at software problems with the recent ID.3 and Golf 8 vehicles.Senger was part of a network of external managers Chief Executive Herbert Diess had brought
  
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• The new app that lets users rent strangers’ stuff. ‘This isn’t about communism,’ says founder

  12-07-2020 16:43 via uk.finance.yahoo.com
  
  Inspiration for businesses can come from many different places – from a board meeting, a focus group or in response to a societal problem. For WhyBuy’s Jamie Conway, it came from a chocolate fountain he’d last used in 2012. “I have a chocolate fountain because I hosted New Year’s Eve for friends eight years ago, I’ve not used it since – it’s still in a cupboard”, Conway said, as he spoke from his flat in London. “I can’t throw it
  
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• Frank Lampard storms off as Sheffield buries Chelsea, 3-0

  12-07-2020 16:43 via ibtimes.co.uk
  
  The loss was a huge blow to Chelsea's chances of getting into the UEFA Champions League next season.
  
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• Primark rejects 30-million-pound UK bonus for bringing back staff

  12-07-2020 16:39 via uk.finance.yahoo.com
  
  Primark, the fashion retailer owned by AB Foods , said on Sunday it would not take advantage of a British government scheme to pay employers for bringing back staff from furlough, eschewing a bonus of about 30 million pounds ($38 million).Primark closed all of its stores in March when the COVID-19 outbreak in Europe intensified, costing it about 650 million pounds in net sales a month.Across Europe 68,000 staff received furlough payments from governments, without which it said it would have been
  
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• Coronavirus: Primark to reject £30m for returning furloughed staff to work

  12-07-2020 16:08 via uk.finance.yahoo.com
  
  The move puts pressure other big firms not to claim for the payments if they are not struggling financially.
  
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• NBA players to have exclusive access to Disney World after-hours

  12-07-2020 15:49 via ibtimes.co.uk
  
  The NBA community will have a chance to enjoythe facilities in their spare time.
  
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• NMC's UAE entity weighing Abu Dhabi option for restructuring - sources

  12-07-2020 15:08 via uk.finance.yahoo.com
  
  Troubled hospital operator NMC Health's entity in the United Arab Emirates (UAE), NMC Healthcare LLC, is considering applying for restructuring and insolvency proceedings locally, two sources familiar with the matter said.The move comes three months after NMC Health Plc , the London-listed holding company for the hospital group, went into administration in April after months of turmoil over its finances.The two sources told Reuters that NMC Healthcare LLC was looking at options to file under the
  
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• LA Lakers star LeBron James won't replace name with social justice statement on jersey

  12-07-2020 15:03 via ibtimes.co.uk
  
  The NBA had previously released a list of approved social justice statements that players can use on their jerseys.
  
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• Bank of Israel sees 2020 budget deficit 13% of GDP, backs new aid package

  12-07-2020 14:49 via uk.finance.yahoo.com
  
  Bank of Israel Governor Amir Yaron on Sunday threw his support behind a second stimulus package to help those hurt by the coronavirus outbreak despite the extra spending that is expected to boost budget deficits in the next two years.Israel's government already approved aid of 100 billion shekels (£22.92 billion), but only about half has been allocated -- prompting a protest by thousands on Saturday night in Tel Aviv against what they said has been an inept government response to the econo
  
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• German meatpacker under fire for requesting government support after COVID-19 outbreak

  12-07-2020 14:45 via uk.finance.yahoo.com
  
  The German meat processing company whose plant was at the centre of a COVID-19 outbreak that forced the authorities to reimpose a local lockdown came under fire from politicians on Sunday for requesting government support to cover quarantined workers' pay.The outbreak at meatpacker Toennies' slaughterhouse in the western town of Guetersloh in June infected 1,500 workers, resulting in 600,000 people in the surrounding areas having to go into lockdown for two weeks.It also prompted a national deba
  
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• NBA players slammed for being 'cry babies' about their quarantine conditions

  12-07-2020 14:44 via ibtimes.co.uk
  
  The current conditions at the NBA bubble in Florida have been likened to the Fyre Festival fiasco.
  
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• Corporations begin cautious return to UK offices after lockdown

  12-07-2020 14:21 via uk.finance.yahoo.com
  
  Corporations begin cautious return to UK offices after lockdown. With remote working a success, the biggest firms are in no great rush to force employees back
  
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• Arturo Vidal keeps Barcelona's La Liga hopes alive

  12-07-2020 14:21 via ibtimes.co.uk
  
  Vidal scored the lone goal of the match off an assist from Lionel Messi.
  
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• Turkey revokes experience requirement for central bank deputy governor

  12-07-2020 14:13 via uk.finance.yahoo.com
  
  Turkey has revoked a requirement that central bank deputy governors have 10 years prior experience and dropped a rule that banks set aside 20% of annual profit, the official gazette showed on Sunday.According to a decree published on the gazette, signed by President Tayyip Erdogan, the phrase "worked for at least ten years in relation to their professions" in the central bank law, was removed.The provision, which envisages 20% of the bank's annual profit to be reserved as a reserve fund, has bee
  
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• Labour joins Facebook advert boycott over 'hateful material'

  12-07-2020 14:12 via bbc.co.uk
  
  The party says it will not advertise on the site "in solidarity with the Black Lives Matter" movement.
  
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• As markets fall again, I’d buy these 5 FTSE 100 shares

  12-07-2020 13:38 via uk.finance.yahoo.com
  
  Markets have fallen back since their crash-recovery highs of June. G A Chester sees great value in five high-quality FTSE 100 shares.The post As markets fall again, I’d buy these 5 FTSE 100 shares appeared first on The Motley Fool UK.
  
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• Brexit: Government announces £705m for border checks and staff

  12-07-2020 13:25 via uk.finance.yahoo.com
  
  The money will be spent on infrastructure, staff and technology.
  
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• I think Lloyds shares could be a stock market crash bargain worth buying

  12-07-2020 13:20 via uk.finance.yahoo.com
  
  Lloyds shares look cheap after the recent stock market crash and could benefit from the global economic recovery as it gets under way.The post I think Lloyds shares could be a stock market crash bargain worth buying appeared first on The Motley Fool UK.
  
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• Until Covid-19 uncertainty melts away there's little chance of full economic recovery

  12-07-2020 13:14 via uk.finance.yahoo.com
  
  Until Covid-19 uncertainty melts away there's little chance of full economic recovery. Nations are entering the critical economic phase of the pandemic: how to get consumers spending again
  
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• £100 a month to invest? I’d go for a Stocks and Shares ISA starting right now

  12-07-2020 13:02 via uk.finance.yahoo.com
  
  Why I think compounding gains in a Stocks and Shares ISA could be a good route to a comfortable financial retirement. Here’s how I’d proceed.The post £100 a month to invest? I’d go for a Stocks and Shares ISA starting right now appeared first on The Motley Fool UK.
  
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• Priti Patel to unveil details of new points-based immigration system

  12-07-2020 12:58 via uk.finance.yahoo.com
  
  Priti Patel will unveil more details of the Government's controversial new points-based immigration system this week, which she describes as a "fairer, firmer, skills-led" approach.The new immigration system will come into effect on January 1, 2021 after freedom of movement ends.
  
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• Michael Gove announces £705m package for Britain-EU border

  12-07-2020 12:50 via uk.finance.yahoo.com
  
  More than £700 million is to be spent on building new infrastructure, hiring staff and developing technology to ensure Britain's border systems are fully operational when the UK leaves the EU at the end of the year. Cabinet Office Minister Michael Gove said the major investment would ensure traders and the border industry are able to "manage the changes and seize the opportunities" when the transition period ends in December.
  
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• Forget a Cash ISA! I’d buy dirt-cheap FTSE 100 dividend growth stocks

  12-07-2020 12:46 via uk.finance.yahoo.com
  
  These FTSE 100 dividend growth stocks could provide far higher returns than any Cash ISA in the years ahead based on current projections. The post Forget a Cash ISA! I’d buy dirt-cheap FTSE 100 dividend growth stocks appeared first on The Motley Fool UK.
  
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• Why I think the stock market crash could help you retire early

  12-07-2020 12:36 via uk.finance.yahoo.com
  
  Investing during the stock market crash could be the best financial decision you'll ever make. Roland Head explains how he'd start investing today.The post Why I think the stock market crash could help you retire early appeared first on The Motley Fool UK.
  
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