Business news

• Leaseholders billed up to £115,000 each to remove Grenfell-style cladding

  17-07-2020 23:44 via uk.finance.yahoo.com
  
  Leaseholders billed up to £115,000 each to remove Grenfell-style claddingFlat owners in Manchester block say they face bankruptcy unless government steps in
  
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• Ashford residents resign themselves to the realities of Brexit

  17-07-2020 23:30
  Plans for a customs border post in the Kent countryside have angered some locals who fear it could become a lorry park
  
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• Leicester labour abuse leads to call for tougher investigating powers

  17-07-2020 23:23
  Enforcement agency seeks scope of ‘beat policing’ overcurrent need for employer’s consent to enter premises suspected of sweatshop conditions
  
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• How Boeing’s 747 became the 'Queen of the Skies'

  17-07-2020 23:16 via bbc.co.uk
  
  A brief history of Boeing's 747, once dubbed the "Queen of the Skies", but which is now being grounded by many airlines.
  
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• My Money: 'My house looks happy'

  17-07-2020 23:10 via bbc.co.uk
  
  Anna Josse Eklund from Sweden takes us through her week during the coronavirus pandemic.
  
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• Zizzi and Ask Italian to close 75 restaurants, putting 1,200 jobs at risk

  17-07-2020 22:28 via uk.finance.yahoo.com
  
  Azzurri Group, the company behind restaurant chains Zizzi and Ask Italian, is to permanently close 75 outlets, threatening up to 1,200 jobs. The closures come as part of a rescue takeover by TowerBrook Capital Partners, the US investment firm which previously owned fashion chain Phase Eight in the UK and luxury brand Jimmy Choo. Around 225 restaurants and shops are being acquired by TowerBrook, securing about 5,000 jobs. It is pumping £70m in a pre-pack administration deal to support Azzur
  
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• Restaurant chain Zizzi and Ask Italian closing 75 branches

  17-07-2020 22:02 via bbc.co.uk
  
  Up to 1,200 jobs are at risk after Azzurri Group, which also owns Ask, was sold out of administration.
  
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• Zizzi and Ask Italian owner to shut around 75 restaurants

  17-07-2020 21:52 via uk.finance.yahoo.com
  
  The Azzuri Group is being taken over by TowerBrook Capital Partners.
  
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• Boohoo urges government action to protect garment factory workers

  17-07-2020 21:42 via uk.finance.yahoo.com
  
  Boohoo has urged the Government to take action to protect workers being exploited in UK garment factories.The fast fashion retailer is currently investigating allegations of malpractice with one of their suppliers in Leicester.
  
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• Boohoo tells Home Secretary it is investigating charges of malpractice in supply chain

  17-07-2020 21:37 via uk.finance.yahoo.com
  
  Embattled fast fashion firm Boohoo has confirmed in a letter to Priti Patel, the UK Home Secretary, that it is taking action to investigate allegations of malpractice in its supply chain. It has also called upon the Government to do the same. The online retailer, which sells T-shirts for as little as £3, has recently come under scrutiny for allegedly paying staff in a factory in Leicester less than the minimum wage and forcing people to work during the pandemic without protection. The comp
  
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• Boohoo calls for licensing scheme to ensure textile factories fit to trade

  17-07-2020 21:28 via uk.finance.yahoo.com
  
  Boohoo calls for licensing scheme to ensure textile factories fit to tradeChief executive says scheme would raise tax and stop rogue businesses entering market
  
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• Boohoo tells UK Home Secretary it is probing charges of malpractice in supply chain

  17-07-2020 21:13 via uk.finance.yahoo.com
  
  The company said in the letter that it supported the call by the British Retail Consortium to implement a licensing scheme that would ensure all garment factories are meeting legal obligations to their employees."We fully support the proposals of the British Retail Consortium and others on the need to implement statutory licensing of garment factory owners and managers to ensure they are 'Fit to Trade'", Boohoo said in the letter, dated July 17.
  
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• Zizzi and ASK close dozens of restaurants across UK with over 1,000 job losses

  17-07-2020 20:56 via uk.finance.yahoo.com
  
  Up to 1,200 jobs are set to be lost after the owner of the chains Zizzi and Ask Italian said they would not reopen about 75 restaurants following the coronavirus pandemic.Azzurri Group has been sold out of administration to TowerBrook Capital Partners in a deal which will see about 225 restaurants and shops saved, protecting about 5,000 jobs.
  
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• All Asda HQ staff told to return to office at least once a week from August

  17-07-2020 20:51 via uk.finance.yahoo.com
  
  All Asda HQ staff told to return to office at least once a week from August. Move by supermarket is first switch away from working from home by major company
  
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• Intesa ups bid for UBI by 18% with cash sweetener

  17-07-2020 20:45 via uk.finance.yahoo.com
  
  Italy's Intesa Sanpaoloon Friday raised its bid for rival UBI Bancaby 18%, adding a cash sweetener to secure investor backing for its plan to create the euro zone's seventh-largest banking group.In mid-February, just before the novel coronavirus struck Italy, Intesa announced an all-paper exchange offer for UBI, targeting the healthiest among second-tier rivals in a push to drive profits through cost cuts.UBI has rejected the bid as too low.
  
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• Ask Italian and Zizzi pizza chains to close 75 restaurants

  17-07-2020 20:30 via uk.finance.yahoo.com
  
  Ask Italian and Zizzi pizza chains to close 75 restaurants. Up to 1,200 jobs could be lost as part of rescue takeover by TowerBrook Capital Partners
  
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• Ask and Zizzi to close 75 outlets, threatening up to 1,200 jobs

  17-07-2020 20:30 via uk.finance.yahoo.com
  
  Ask and Zizzi to close 75 outlets, threatening up to 1,200 jobs. Closure of Italian restaurants comes as part of rescue takeover by TowerBrook Capital Partners
  
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• Workplace abuse investigators call for tougher powers

  17-07-2020 20:25
  Authorities policing modern slavery offences currently need employers’ consent to enter
  
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• Boohoo could be forced to move 40% of its production out of UK

  17-07-2020 20:01 via uk.finance.yahoo.com
  
  Boohoo could be forced to move 40% of its production out of UKAnalysis by Credit Suisse says closer scrutiny of fashion firm’s suppliers likely to force move
  
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• Lyft sparks uproar after opening store to sell masks to its drivers

  17-07-2020 19:58 via uk.finance.yahoo.com
  
  Lyft sparks uproar after opening store to sell masks to its driversMove has enraged drivers and labor organizers who say company should provide protective gear to workers for free
  
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• G4S plea deal cut after slow response to fraud inquiry

  17-07-2020 19:24
  Judge applies reduced discount on security company’s fine over prisoner tagging
  
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• Intesa ups bid for UBI with 0.57 euro cash sweetener

  17-07-2020 19:22 via uk.finance.yahoo.com
  
  Intesa Sanpaolo improved the terms of its bid for UBI Banca, offering 0.57 euro in cash as well as 1.7 of its own shares for each share of its smaller rival, the bank said on Friday.Intesa said the improved offer valued UBI Banca shares at 4.824 euros each, a 44.7% premium on the stock from its value at Feb. 14, when the bid was first announced.UBI has so far resisted the bid, which it says undervalued it.
  
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• Income of Russians falls most in 20 years in second quarter, GDP down 9.6%

  17-07-2020 19:18 via uk.finance.yahoo.com
  
  Russians' real disposable income plunged the most in 20 years in the second quarter, while the economy shrank by 9.6% year-on-year as the country has been hit by low oil prices and the coronavirus pandemic.Real disposable income has become one of the most socially-sensitive issues in Russia led by President Vladimir Putin,with the economy expected to contract by as much as 6% this year.The income fell 8% in year-on-year terms in April-June, the state statistics service Rosstat said on Friday, ad
  
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• U.S. travel industry seeks government assistance, new tax breaks to spur trips

  17-07-2020 19:15 via uk.finance.yahoo.com
  
  The coronavirus-hit U.S. travel industry on Friday asked Congress for $10 billion in federal grants to promote safe practices, new liability protections and tax credits for travelers and the industry.The U.S. Travel Association, which represents hotels, car rental companies, American Express , airports and tourism agencies, also wants $13 billion for U.S. airports and a refundable tax credit of up to 50% of travel expenses through the end of 2022 of up to $3,000 per family.
  
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• U.S. travel industry seeks gov't assistance, new tax breaks to spur trips

  17-07-2020 19:15 via uk.finance.yahoo.com
  
  The coronavirus-hit U.S. travel industry on Friday asked Congress for $10 billion in federal grants to promote safe practices, new liability protections and tax credits for travellers and the industry.The U.S. Travel Association, which represents hotels, car rental companies, American Express , airports and tourism agencies, also wants $13 billion for U.S. airports and a refundable tax credit of up to 50% of travel expenses through the end of 2022 of up to $3,000 per family.
  
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• Rival parties take aim at Germany's Scholz over Wirecard scandal

  17-07-2020 18:48 via uk.finance.yahoo.com
  
  Germany's Social Democrat Finance Minister Olaf Scholz is facing calls from rival parties to account for the regulatory failures that led to the collapse of Wirecard after it emerged he knew of concerns about the company 18 months ago.Scholz, seen as the party's best hope to succeed conservative Chancellor Angela Merkel next year, was informed in February 2019 that investigators were looking in "all directions" when regulators banned short-selling of Wirecard's shares, according to a parliamenta
  
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• U.S. economy faces significant risks, long road to recovery - IMF staff

  17-07-2020 18:45 via uk.finance.yahoo.com
  
  The U.S. economy is forecast to shrink by 6.6% in 2020 due to the shock of the coronavirus pandemic, but a resurgence in coronavirus infections and a systemic increase in poverty could worsen that outlook, the staff of the International Monetary Fund warned on Friday.After concluding a regular Article IV review of the world's largest economy, IMF staff cited other risks, including a big increase in government and corporate debt levels, and the prospect of a long period of low, or even negative,
  
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• Huawei to hit UK high street with plan to open three stores

  17-07-2020 18:39 via uk.finance.yahoo.com
  
  Huawei’s consumer arm said on Friday that the £10 million expansion plan shows 'the confidence we have in our future here'.
  
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• US judge: WhatsApp lawsuit against Israeli spyware firm NSO can proceed

  17-07-2020 18:27 via uk.finance.yahoo.com
  
  US judge: WhatsApp lawsuit against Israeli spyware firm NSO can proceed. NSO Group was sued last year by messaging app owned by Facebook
  
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• Caution means mass return to work unlikely, say firms

  17-07-2020 18:15 via bbc.co.uk
  
  Employers say they still need “crystal-clear official guidance” on safety.
  
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• Sun sets on ‘Queen Of The Skies’

  17-07-2020 18:13 via uk.finance.yahoo.com
  
  Boeing 747s revolutionised long-haul air travel but only 30 remain in passenger service.
  
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• FTSE makes gains with European markets mixed as EU summit starts

  17-07-2020 18:10 via uk.finance.yahoo.com
  
  London’s top flight closed 39.61 points higher at 6,290.3p at the end of trading on Friday.
  
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• World Bank calls on creditors to cut poorest nations' debt payments

  17-07-2020 18:09 via uk.finance.yahoo.com
  
  World Bank calls on creditors to cut poorest nations' debt paymentsCooperation needed to avoid turning Covid-19 into deeper economic crisis, says economist
  
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• Next week’s stock market pick: how I’d beat the recession with this top UK AIM share

  17-07-2020 18:04 via uk.finance.yahoo.com
  
  With final results next week, Ash Karandawala looks at how to beat the recession by buying top UK AIM share Begbies Traynor. The post Next week’s stock market pick: how I’d beat the recession with this top UK AIM share appeared first on The Motley Fool UK.
  
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• Apple and Google preview new emoji to mark World Emoji Day

  17-07-2020 18:04 via uk.finance.yahoo.com
  
  The technology giants have released previews of new emoji designs coming later this year.
  
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• What will changes to England's lockdown rules mean for me?

  17-07-2020 18:03 via uk.finance.yahoo.com
  
  What will changes to England's lockdown rules mean for me?We look at how the changes beginning on 1 August will affect daily lives in England* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Welsh site confirmed for Britain's first battery gigafactory

  17-07-2020 17:52 via uk.finance.yahoo.com
  
  Startup firm Britishvolt has chosen a site in Wales to build electric car batteries in the UK's first battery gigafactory.
  
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• Can following George Soros help you get rich and retire early?

  17-07-2020 17:51 via uk.finance.yahoo.com
  
  George Soros managed to generate 30% return per year for his fund's investors. Can his strategy help you get rich and retire early?The post Can following George Soros help you get rich and retire early? appeared first on The Motley Fool UK.
  
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• Based on US Q2 earnings, I’d watch this UK bank stock and avoid the rest

  17-07-2020 17:45 via uk.finance.yahoo.com
  
  I discuss why I believe that recent US earnings point to a strong quarter for bank stocks Barclays and HSBC, but a bad one for Lloyds and RBS.The post Based on US Q2 earnings, I’d watch this UK bank stock and avoid the rest appeared first on The Motley Fool UK.
  
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• Why I’d avoid the GVC share price and buy this dividend hero instead

  17-07-2020 17:35 via uk.finance.yahoo.com
  
  The GVC Holdings (LSE: GVC) share price maybe in recovery. However, I'd buy this dependable 4.85% dividend payer instead, says Rachael FitzGerald-Finch. The post Why I'd avoid the GVC share price and buy this dividend hero instead appeared first on The Motley Fool UK.
  
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• Large shark snatches young boy from fishing boat

  17-07-2020 17:29 via ibtimes.co.uk
  
  The 10-year-old's father and other men scared off the predator, saving the child's life.
  
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• British Airways retires 747s in preparation for ‘a very different future’

  17-07-2020 17:27 via uk.finance.yahoo.com
  
  Chief executive Alex Cruz said the decision was 'heart-breaking'.
  
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• 130 high-profile Twitter accounts targeted in hacking attack

  17-07-2020 17:18 via uk.finance.yahoo.com
  
  130 high-profile Twitter accounts targeted in hacking attack. Social network investigating whether users’ private data was compromised
  
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• Miss Swimsuit UK gets title stripped over 'All Lives Matter' post

  17-07-2020 17:16 via ibtimes.co.uk
  
  A Facebook rant questioning George Floyd's innocence and stating "All Lives Matter" led to the reigning title holder's removal from the pageant's website.
  
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• Market report: ‘Czech sphinx’ increases his lion’s share in Royal Mail

  17-07-2020 17:16 via uk.finance.yahoo.com
  
  Daniel Kretinsky, the secretive billionaire investor known as the “Czech sphinx”, ramped up his stake in Royal Mail with a further stake expansion. The stake controlled by his vehicle Vesa Equity now stands at 12.1pc – the largest of any single shareholder – and is worth £224m. The FTSE 250 group is facing an existential challenge as people stop sending letters and it grapples with long-standing union disputes. Its chief executive Rico Back suddenly quit the firm in
  
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• YouTube bias exposed by 'TheirTube' project that shows how platform looks to conspiracy theorists

  17-07-2020 17:04 via uk.finance.yahoo.com
  
  A new tool has demonstrated how YouTube's secretive recommendation algorithm directs users to videos promoting extremist ideologies and conspiracy theories.The TheirTube project, developed by creative designer Tomo Kihara, allows people to “step inside someone else’s YouTube bubble” by showing them videos recommended by YouTube.
  
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• Economic recovery further away than markets think - BlackRock CEO Fink

  17-07-2020 17:03 via uk.finance.yahoo.com
  
  The U.S. economy is going to take longer to recover from the hit from the coronavirus pandemic than the market expects, and more stimulus is critical, BlackRock Inc Chief Executive Larry Fink said on Wednesday."There is a belief that we will have some form of anti-viral that reduces the severity but let's be clear, if we had this type of infection rate in March the markets would have been down even further," Fink said.Stocks have recovered since then and the index is down less than 1% for the ye
  
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• Green or Brown? As lockdowns lift, governments face a recovery climate choice

  17-07-2020 16:54 via uk.finance.yahoo.com
  
  Despite mounting pressure for economic rescue packages to be used to tackle climate change, most of the money spent so far on overcoming the coronavirus pandemic has gone towards propping up business as usual, according to three studies."There are a lot of different groups who are watching whether stimulus efforts are going to help or hurt the climate," said Joel Jaeger, research associate at the World Resources Institute in Washington DC.The pandemic has already prompted the United States, Euro
  
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• BA begins to carry out its 'fire and rehire' threat to jobs

  17-07-2020 16:50 via uk.finance.yahoo.com
  
  BA begins to carry out its 'fire and rehire' threat to jobsAs airline moves to cut 12,000 jobs, senior crew told they will get 80% of current basic pay
  
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• Ubi shareholder Fondazione Banca del Monte Lombardia accepts Intesa offer - source

  17-07-2020 16:40 via uk.finance.yahoo.com
  
  Ubi Banca shareholder, Fondazione Banca del Monte di Lombardia will tender its 4% stake in Ubi under the takeover offer from Intesa Sanpaolo for its smaller rival, a person close to the foundation said on Friday.Fondazione Banca del Monte di Lombardia has been part of the CAR investor group, which holds a total of 19% of Ubi shares and which has rejected the Intesa takeover offer.The head of another Ubi shareholder group, Sindacato Azioni UBI Banca, with a stake of some 8%, said it would also te
  
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