Business news

• UK retailer M&S to announce hundreds of job cuts - Sky News

  19-07-2020 22:49 via uk.finance.yahoo.com
  
  The company furloughed around 7,000 employees and announced plans to close about 100-120 stores.British retail faces more than 5,000 job cuts as retailers warned customers were unlikely to return to their old shopping habits after the coronavirus crisis, in the latest blow to the country's ailing economy.COVID-19, a respiratory disease caused by coronavirus, has put an intolerable strain on retailers, already battling high rents, business rate taxes, tight margins and a rapid shift online.
  
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• Retailer M&S to announce hundreds of job cuts - Sky News

  19-07-2020 22:49 via uk.finance.yahoo.com
  
  The company furloughed around 7,000 employees and announced plans to close about 100-120 stores.British retail faces more than 5,000 job cuts as retailers warned customers were unlikely to return to their old shopping habits after the coronavirus crisis, in the latest blow to the country's ailing economy.COVID-19, a respiratory disease caused by coronavirus, has put an intolerable strain on retailers, already battling high rents, business rate taxes, tight margins and a rapid shift online.
  
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• Tata Steel: Job fears at Port Talbot over furnace plan

  19-07-2020 21:38 via bbc.co.uk
  
  There are reports Tata Steel plans to replace two blast furnaces but the firm says no decision has been made.
  
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• TikTok halts talks on London HQ amid UK-China tensions

  19-07-2020 20:53 via uk.finance.yahoo.com
  
  TikTok halts talks on London HQ amid UK-China tensions. Video-sharing app suspends building plans, with British ban on Huawei 5G kit seen as factor
  
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• TikTok halts talks on London headquarters amid UK-China tensions

  19-07-2020 20:53 via uk.finance.yahoo.com
  
  TikTok halts talks on London headquarters amid UK-China tensions. Video-sharing app suspends plans for expansion in the wake of diplomatic rows between both countries
  
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• Brighton Hospital locked-down after stabbing

  19-07-2020 20:01 via uk.finance.yahoo.com
  
  The Royal Sussex County Hospital in Brighton has been put under lockdown after a staff member was stabbed. Sussex Police say they "quickly secured" the hospital following the attack.
  
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• Unions fear job losses in Port Talbot electric power plan

  19-07-2020 19:58
  Environmental conditions attached to state aid could mean converting blast furnaces
  
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• Rightmove and Compass say no to job retention bonus

  19-07-2020 19:51 via bbc.co.uk
  
  The property portal and caterer are the latest to shun payouts for staff brought back from furlough.
  
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• TikTok's UK headquarters in doubt as US considers ban

  19-07-2020 19:10 via uk.finance.yahoo.com
  
  Tik Tok’s plans to base its international headquarters in UK have been thrown into doubt as the US considers banning the app.
  
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• Finals MVP Kawhi Leonard is fully recovered and ready to create another upset

  19-07-2020 19:10 via ibtimes.co.uk
  
  Thanks to the delay, Leonard has recovered in time for the NBA season restart.
  
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• Ted Baker to cut 500 jobs as pandemic losses add to financial woe

  19-07-2020 18:55 via uk.finance.yahoo.com
  
  Ted Baker to cut 500 jobs as pandemic losses add to financial woeFashion retailer hit by revenue drop of 36% on top of £79.9m loss last year* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Antetokounmpo brothers celebrate birthday bash in NBA Disney bubble

  19-07-2020 18:54 via ibtimes.co.uk
  
  The eldest Antetokounmpo sibling did not miss out on a celebration even during the pandemic.
  
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• Upcoming NBA exhibition games set to have 10-minute quarters

  19-07-2020 18:30 via ibtimes.co.uk
  
  The NBA is concerned about possible injuries if the players return to intense action too quickly.
  
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• After more than a decade of eroding workers' rights, it's time for a proper new deal

  19-07-2020 18:17 via uk.finance.yahoo.com
  
  After more than a decade of eroding workers' rights, it's time for a proper new dealBoris Johnson’s recovery plan will not succeed if he doesn’t put worker protection at its heart
  
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• How Shein deployed an army of TikTok influencers to lure British teens

  19-07-2020 18:03 via uk.finance.yahoo.com
  
  You might not have heard of Shein, but it has become one of the most popular retailers in the UK after deploying an army of TikTok influencers to capture the hearts – and purses – of Generation Z. Take a quick scroll through TikTok and you will come across numerous young women sharing their “Shein haul”. This new trend, with half a million views already, sees young women sharing videos with piles of Shein packages, and trying each piece on with some clever editing and cha
  
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• Shell Deer Park, Texas, refinery shuts gasoline-producing FCC after fire - sources

  19-07-2020 17:46 via uk.finance.yahoo.com
  
  How long the 70,000-bpd FCC will be shut was unknown on Sunday, the sources said.Shell spokesman Curtis Smith said on Sunday that all individuals were safe and accounted for at the Shell Deer Park Complex, which includes the refinery and adjoining chemical plant."We responded to a small fire and leak at one of the units at our Deer Park Manufacturing Complex," Smith said.
  
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• MPs call for crackdown on advisers behind unlawful tax avoidance

  19-07-2020 17:40
  Cross-party group want to make criminal prosecutions and increased fines easier
  
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• Disney cuts Facebook ad spending following boycott

  19-07-2020 17:30 via uk.finance.yahoo.com
  
  Disney has reportedly scaled back its advertising on Facebook and Instagram following an advertising boycott of the social network over its response to hate speech and misinformation. The media company had been the social network's top US advertiser in the first half of 2020, spending $210m (£167m), but has since cut its Facebook ad spending, The Wall Street Journal reported. Disney has not yet made any public comment about its decision to scale back its Facebook advertising, however the c
  
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• Zombies are the least of Britain’s small business problems

  19-07-2020 17:19
  Rishi Sunak’s challenge now is to keep as many businesses as possible alive until the economy recovers
  
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• Uber in final UK court appeal that its drivers are not employees

  19-07-2020 17:04
  Already 3 rulings that the 35 plaintiffs in test case are not independent contractors
  
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• Special report: How the 'red wall' revisit looks for the Conservatives?

  19-07-2020 16:58 via uk.finance.yahoo.com
  
  The promise of Brexit and a wave of optimism won Conservatives votes, but the same areas in the North East faces the worst of the economic fallout from the coronavirus crisis so can the promises be kept.
  
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• Britain consults Japan on how to fill Huawei vacuum

  19-07-2020 16:30 via uk.finance.yahoo.com
  
  The Government has asked Japan for its help in finding potential alternatives to Huawei equipment in the UK’s 5G networks after it ordered telecoms businesses to strip out all kit made by the Chinese firm by the end of 2027. British officials last week held talks in Tokyo about the future of the UK’s 5G networks, Nikkei reported. Japanese businesses NEC and Fujitsu have reportedly been considered as new sources of 5G equipment. The UK’s intelligence services have for years expr
  
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• Nearly 500 people apply for two jobs at London pub as work runs dry

  19-07-2020 16:26 via uk.finance.yahoo.com
  
  Nearly 500 people have applied for just two jobs at a London pub, as research showed job listings plummeting in July compared to last year.Mick Dore, who manages the Alexandra in Wimbledon, south-west London, said that 484 people sent in CVs for two £9-an-hour jobs at the pub, which reopens on Monday.
  
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• Witness describes scene after Thorpe Park stabbing

  19-07-2020 16:21 via uk.finance.yahoo.com
  
  Witness Abbie Theune has described the scene at Thorpe Park after a man was seriously injured in a stabbing attack. Two men have been arrested on suspicion of attempted murder.
  
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• Green homes scheme backfires as start date causes collapse in trade

  19-07-2020 15:55 via uk.finance.yahoo.com
  
  The Chancellor’s £2bn green homes vouchers scheme has backfired after firms blasted its “reckless” September start date for causing customers to cancel installations and hold off on purchases. Window firms and trade suppliers warned of suffering a collapse in business that has forced many to re-furlough staff after the scheme incentivised customers to wait until September. “Our appointments diary collapsed by 70pc with people preferring not to have an appointment bu
  
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• Treasury's austerity hawks risk pushing the UK into a Japanese-style deflation trap

  19-07-2020 15:46 via uk.finance.yahoo.com
  
  Britain has seen a more dramatic lurch towards negative bond yields than any other major country since the onset of Covid-19, radically transforming the structure of the UK debt market almost overnight. Bank of America says yields on £450bn of sterling sovereign debt have fallen below zero for the time in history. The speed of the move has been breathtaking, and signals the real risk of a Japanese-style deflation trap for the UK economy. It comes despite a budget deficit exploding towards
  
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• Government plans to encourage tech adoption in bid to boost productivity

  19-07-2020 15:45 via uk.finance.yahoo.com
  
  The Government plans to build on Zoom-mania by drawing up policies to accelerate technology adoption to help solve Britain’s productivity puzzle. Officials are understood to be exploring ways to revive companies’ lagging digital adoption rates amid hopes Covid-19 will force bosses to embrace productivity-boosting investments. Early stage discussions on policies for the autumn included new grants, tax incentives and educating smaller firms to help encourage tech adoption. Policymakers
  
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• Lloyds Bank refuses to pay legal costs of firm in HBOS fraud case

  19-07-2020 15:39 via uk.finance.yahoo.com
  
  Lloyds Banking Group has clashed with an independent review into the HBOS Reading scandal by refusing to pay the legal costs of a firm invited to give evidence to the inquiry. The review headed by Dame Linda Dobbs, a former High Court judge, is examining whether bosses at Lloyds properly investigated claims that officials in the Reading branch of Halifax-Bank of Scotland (HBOS) destroyed customers’ businesses for personal gain. Lloyds has refused to pay the legal costs of a firm involved i
  
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• FTSE 100 stalwart has a new challenger in town

  19-07-2020 15:06 via uk.finance.yahoo.com
  
  FTSE 100 (INDEXFTSE:UKX) advertising giant WPP is looking cheap right now, but could its new, much smaller, rival offer the better investing opportunity?The post FTSE 100 stalwart has a new challenger in town appeared first on The Motley Fool UK.
  
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• Total tax that HMRC is disputing with UK companies rises sharply

  19-07-2020 14:38
  Increase follows crackdown on multinationals shifting profits to low-tax jurisdictions
  
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• Amount of tax HMRC is disputing with UK companies rises sharply

  19-07-2020 14:38
  Increase follows crackdown on multinationals shifting profits to low-tax jurisdictions
  
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• Taxes will have to rise at some point, but right now we need the government to spend, spend, spend

  19-07-2020 14:27 via uk.finance.yahoo.com
  
  Do taxes need to rise, or public spending be cut, to pay for the Covid-19 crisis? With government spending having caused a huge increase in public debt – now already over 100 per cent of national income – the argument on how and when it should be paid back is already raging.The government has been quick to deny that it has plans to return to “austerity”. But it has been noticeably more reticent on tax rises. And the outriders are already making the case. Last week former
  
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• Israel approves pipeline deal to sell gas to Europe

  19-07-2020 13:49 via uk.finance.yahoo.com
  
  The Israeli government on Sunday approved an agreement with European countries for the construction of a subsea pipeline that would supply Europe with natural gas from the eastern Mediterranean.The Eastmed pipeline, which has been in planning for several years, is meant to transport gas from offshore Israel and Cyprus to Greece and on to Italy.A deal to build the project that was signed in January between Greek, Cypriot and Israeli ministers had still required final approval in Israel.
  
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• Coronavirus: Half of Brits say they can't stop online shopping in lockdown

  19-07-2020 13:43 via uk.finance.yahoo.com
  
  Brits have turned to online shopping to fill their time and give themselves something to do.
  
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• Oatly gets a sprinkling of stardust as it rides the wave of alt-milk

  19-07-2020 13:42 via uk.finance.yahoo.com
  
  Oatly gets a sprinkling of stardust as it rides the wave of alt-milkJay-Z and other celebs pile in as Swedish brand reaches $2bn valuation on plant-based product
  
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• Hong Kong national security laws shouldn't harm banks' operations, regulator says

  19-07-2020 13:29 via uk.finance.yahoo.com
  
  Hong Kong's capital markets regulator sought on Sunday to reassure global banks in the city that China's new national security laws for the financial hub would not harm their operations.The "free flow" of information is one of the "fundamental attributes" that have made Hong Kong an international financial centre, and this is not expected to change under the new laws, said Securities and Futures Commission chief executive Ashley Alder.
  
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• Forget buy-to-let! I’d buy FTSE 100 stocks to retire on

  19-07-2020 13:17 via uk.finance.yahoo.com
  
  Buy-to-let property does not offer the kind of flexibility that comes with buying FTSE 100 growth and income stocks for the long term. The post Forget buy-to-let! I'd buy FTSE 100 stocks to retire on appeared first on The Motley Fool UK.
  
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• Returns on UK savings accounts have plummeted since noughties

  19-07-2020 13:13 via uk.finance.yahoo.com
  
  New research highlights how hard it currently is for consumers to make meaningful returns from savings accounts. 
  
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• Coronavirus: Brits pushed further into debt in lockdown

  19-07-2020 12:37 via uk.finance.yahoo.com
  
  The coronavirus crisis has had a negative effect on seven in 10 people’s finances.
  
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• Finances chiefs brace for slow recovery as factories plan to slash jobs

  19-07-2020 12:31 via uk.finance.yahoo.com
  
  Finance chiefs are bracing for a “long haul back” to pre-virus levels of business as the country’s biggest firms plan to slash investment and hiring. Half of companies do not expect activity to recover to levels seen before the pandemic until at least the second half of 2021 as most move to shore up their finances, Deloitte’s quarterly survey of chief financial officers found. While sentiment improved marginally from the first quarter, the majority are bracing for a slump
  
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• 3 FTSE 100 stocks I’d buy after the stamp duty cut

  19-07-2020 12:30 via uk.finance.yahoo.com
  
  The recent stamp duty cut could send profits at these FTSE 100 stocks surging as first-time buyers rush into the market for new homes.The post 3 FTSE 100 stocks I'd buy after the stamp duty cut appeared first on The Motley Fool UK.
  
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• No savings at 50? I’d follow these 3 steps when buying cheap UK shares to retire rich

  19-07-2020 12:19 via uk.finance.yahoo.com
  
  Buying UK shares today could lead to high returns over the next couple of decades that improves your prospects of retiring early, in my view.The post No savings at 50? I’d follow these 3 steps when buying cheap UK shares to retire rich appeared first on The Motley Fool UK.
  
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• Fund groups urge UK to back EU green finance rules

  19-07-2020 12:00
  Aviva Investors and Columbia Threadneedle warn that UK’s green finance goals are at risk if the country does not act
  
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• Don’t waste a second stock market crash! I’d use these tips to retire rich with shares

  19-07-2020 11:22 via uk.finance.yahoo.com
  
  A second market crash could provide further buying opportunities for long-term investors seeking to retire rich, in my opinion.The post Don’t waste a second stock market crash! I’d use these tips to retire rich with shares appeared first on The Motley Fool UK.
  
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• Why I reckon a stock market surge may be coming

  19-07-2020 11:11 via uk.finance.yahoo.com
  
  The potential for a stock market surge makes me an enthusiastic buyer of good-quality shares right now. Here’s how it could happen.The post Why I reckon a stock market surge may be coming appeared first on The Motley Fool UK.
  
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• Could the BT share price make you rich?

  19-07-2020 11:07 via uk.finance.yahoo.com
  
  The BT share price looks cheap compared to history, but there's no guarantee the company will ever return to its former glory. The post Could the BT share price make you rich? appeared first on The Motley Fool UK.
  
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• Tax rises will be needed to fill Britain’s fiscal hole

  19-07-2020 11:00
  A poorer country needs to find new funds to pay for public services
  
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• Retirees: can you retire on just dividend stocks?

  19-07-2020 10:53 via uk.finance.yahoo.com
  
  With interest rates likely to remain low over the coming years, dividend stocks may provide a large contribution to the passive income of many retirees.The post Retirees: can you retire on just dividend stocks? appeared first on The Motley Fool UK.
  
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• Look to the future! I’d buy these AIM stocks today

  19-07-2020 10:30 via uk.finance.yahoo.com
  AIM stocks are often risky investments, but they can also see tremendous gains. One Fool looks at his top picks within the AIM market. The post Look to the future! I’d buy these AIM stocks today appeared first on The Motley Fool UK.
  
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• Mortgages still in lockdown despite stamp-duty holiday

  19-07-2020 10:00 via uk.finance.yahoo.com
  
  Mortgages still in lockdown despite stamp-duty holiday. Low-deposit home loans are coming back … but choices are limited and lenders are applying new terms and conditions
  
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