Business news

• United warns travel demand will languish until COVID-19 vaccine

  21-07-2020 23:36 via uk.finance.yahoo.com
  
  United Airlines Holdings Incwarned on Tuesday that travel demand will remain suppressed until there is a widely accepted treatment or vaccine for COVID-19, which plunged the carrier to a deep quarterly loss on Tuesday.Coronavirus infections are surging in the United States,causing some states to scale back reopening plans and reinstate quarantines in a fresh blow to airlines.United, which is not blocking middle seats, plans to fly about 35% of its 2019 summer schedule in the third quarter andis
  
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• United improves quarterly cash burn but employee demand for early exits weak

  21-07-2020 23:36 via uk.finance.yahoo.com
  
  United Airlines Holdings Incsaid on Tuesday it burned through about $40 million per day in the second quarter but sees that amount slowing to roughly $25 million in the third quarter as it matches its flight schedule to coronavirus-hit demand.U.S. airlines are scrambling to adjust operations to hard-to-predict travel demand as COVID-19 infections surge, forcing some U.S. states to scale back reopening plans and reinstate quarantines.To avoid furloughs when government bailout funds run out in Oct
  
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• Britain to provide 350 million pounds to help industry cut carbon emissions

  21-07-2020 23:34 via uk.finance.yahoo.com
  
  The British government will make 350 million pounds available to support industry efforts to cut carbon emissions and drive an economic recovery from the coronavirus crisis.It includes funding for supporting a switch from gas to clean hydrogen for fuel-heavy industry, projects to scale up carbon capture and storage, new building techniques in the construction industry and research into more efficient electric motors."This funding will reduce emissions, create green collar jobs and fuel a strong,
  
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• Britain nears abandoning Brexit trade deal hope - The Telegraph

  21-07-2020 23:20 via uk.finance.yahoo.com
  
  The UK government's assumption is that there will not be a deal, though it remains possible that a "basic" agreement could be reached if the EU gives ground in the autumn, the newspaper said, citing government sources.Britain left the EU on Jan. 31 and its relationship with the bloc is now governed by a transition arrangement that keeps previous rules in place while the two sides negotiate new terms.Negotiators remain deadlocked on fishing rights, the deal's governance, the European Court of Jus
  
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• Tesla's Musk qualifies for $2.1 billion payday

  21-07-2020 21:16 via uk.finance.yahoo.com
  
  Tesla's stock was down 3% in afternoon trading, eroding a recent rally that has elevated the company's market capitalization to almost $300 billion, larger than any other carmaker.Despite Tuesday's stock dip, and importantly for Musk's personal finances, Tesla’s six-month average market capitalization for the first time has reached $150 billion.
  
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• World markets surge on promising Covid-19 vaccine and EU deal

  21-07-2020 21:06 via uk.finance.yahoo.com
  
  World markets surge on promising Covid-19 vaccine and EU dealFTSE 100 remained flat on a weak dollar and fears of a double spike after lockdown
  
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• Santander Chairman says EU aid agreement paves way for cross-border mergers

  21-07-2020 21:06 via uk.finance.yahoo.com
  
  The European leaders' agreement on a massive stimulus plan for their coronavirus battered economies should help kick-start cross-border consolidation in Europe and complete the European banking union, SantanderChairman Ana Botin said."What was agreed yesterday (in the early hours of Tuesday) means the opportunity and the probability that we do get a banking union and cross-border consolidation is much higher," Botin told Reuters in a Zoom call."It will require changes, but I think those changes
  
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• Betting giant GVC may regret its Turkish gamble despite the rewards

  21-07-2020 20:45 via uk.finance.yahoo.com
  
  Betting giant GVC may regret its Turkish gamble despite the rewardsHMRC’s expanded investigation could threaten its Nevada Gaming Commission licence renewal
  
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• Jeff Bezos, the world's richest man, added £10bn to his fortune in just one day

  21-07-2020 20:31 via uk.finance.yahoo.com
  
  Jeff Bezos, the world's richest man, added £10bn to his fortune in just one dayAs Amazon thrives under Covid-19, critics say its founder’s wealth – he could buy the UK’s four big banks – is ‘obscene’
  
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• EU fund seen as turning point for eurozone financial assets

  21-07-2020 20:24 via uk.finance.yahoo.com
  
  Investors cheered a key step toward fiscal integration in the European Union via a new recovery fund agreed on Tuesday, seeing it as a turning point for the region's financial assets plagued for years by debt crises and a north-south divide.The 750-billion-euro ($864.68 billion) fund had been hailed as a game changer and unprecedented act of solidarity in almost seven decades of European convergence.For years, threats like Greece's debt crisis and a eurosceptic populist government in Italy had s
  
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• Home owners in England permitted to add two extra floors

  21-07-2020 19:41 via bbc.co.uk
  
  The government said the new rules would prompt people to build more bedrooms and granny flats.
  
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• Italy prosecutors seek jail sentences for Eni, Shell executives in Nigeria case

  21-07-2020 19:31 via uk.finance.yahoo.com
  
  Italian prosecutors have asked for oil majors Eniand Shellto be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria.The prosecutors also asked for Eni and Shell to be fined 900,000 euros each and sought to confiscate a total of $1.092 billion from all the defendants in the case, the equivalent of the bribes alleged to have been paid.In one of the oil industry's biggest suspected scandal
  
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• Italy prosecutors seek jail for Eni, Shell executives in Nigeria case

  21-07-2020 19:31 via uk.finance.yahoo.com
  
  Italian prosecutors have asked for oil majors Eniand Shellto be fined and some of their present and former executives, including Eni CEO Claudio Descalzi, to be jailed in a long-running trial over alleged corruption in Nigeria.In one of the oil industry's biggest alleged scandals, Italian prosecutors allege Eni and Shell acquired a Nigerian oilfield in 2011, knowing most of the $1.3 billion purchase price would go to politicians and middlemen in bribes.
  
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• Profit or not? Analysts divided ahead of Tesla's second-quarter results

  21-07-2020 19:28 via uk.finance.yahoo.com
  
  More bullish investors have sent Tesla's shares soaring in recent weeks and made it the world's most valuable automaker.Tesla's April-June results also have wider ramifications.Tesla Chief Executive Elon Musk, in the meantime, has poked fun at the company's naysayers and those who placed bets against him with short positions in the stock, by launching a limited edition of red satin "short shorts."
  
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• UK Treasury to require digital tax returns every quarter

  21-07-2020 19:23
  Landlords, self-employed and VAT-registered businesses affected by move to cut losses from filing errors
  
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• Government to crack down on tax errors with quarterly filing plan

  21-07-2020 19:23
  Landlords, the self-employed and businesses registered for VAT to have to keep digital records
  
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• Aegean Airlines says flight operations 40% restored, expects loss in second quarter

  21-07-2020 19:18 via uk.finance.yahoo.com
  
  Greece's largest carrier Aegean Airlineshad restored 40% of its flight operations in June and expects to increase the level to 50% next month, its chief executive told the annual shareholders' meeting on Tuesday.Aegean, a member of the Star Alliance airline group, more than doubled its loss in the first quarter compared to the same period a year earlier, hurt by the grounding of planes as part of restrictions to contain the spread of the new coronavirus.
  
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• 'Chinese hackers' target UK tech firm in Covid-19 research spree

  21-07-2020 19:15 via uk.finance.yahoo.com
  
  Chinese hackers broke into a British artificial intelligence startup in April, as part of a wider cyber campaign targeting coronavirus research, the United States has claimed. Washington officials have charged two Chinese nationals with hacking “hundreds” of victims around the world to gain access to companies’ intellectual property. Li Xiaoyu and Dong Jiazhi, former classmates at an electrical engineering college in Chengdu, China, illicitly accessed the corporate networks of
  
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• China agrees to 'intensive' WTO talks on fisheries - sources

  21-07-2020 19:14 via uk.finance.yahoo.com
  
  China is ready to "fully engage" in intensive negotiations agreed on Tuesday by the World Trade Organization to cut subsidies on fishing by year-end, sources following the talks said.The body has been trying to reach a deal for the past 20 years on ending the subsidies which environmentalists say are contributing to a worrying decline in global fish stocks.The WTO's 164 members are set to start "continuous negotiations" in September based on a draft text with a view to getting a deal by December
  
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• Sales of alcohol, tea and coffee soar in shops since UK lockdown

  21-07-2020 19:11 via uk.finance.yahoo.com
  
  Sales of alcohol, tea and coffee soar in shops since UK lockdownConsumers continue to largely eat and drink at home even as Covid-19 lockdown loosens* Coronavirus – latest updates* See all our coronavirus coverage
  
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• What Impact Is AI Having On Cybersecurity?

  21-07-2020 19:08 via ibtimes.co.uk
  
  The cybersecurity industry has been massively improved over recent years thanks to artificial intelligence technology. Find out why this is the case here.
  
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• Rishi Sunak warns public sector workers of new pay squeeze

  21-07-2020 19:02 via uk.finance.yahoo.com
  
  Rishi Sunak warns public sector workers of new pay squeezeUnions accuse chancellor of using smokescreen tactics to hide plans for pay restraint* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Labour questions impartiality of England’s £3.6bn regeneration money allocation

  21-07-2020 19:00
  Opposition raises concerns after it is revealed marginal Tory target seats were picked for funding
  
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• Amber Heard and Johnny Depp depart court

  21-07-2020 19:00 via uk.finance.yahoo.com
  
  Johnny Depp and ex-wife Amber Heard depart from the Royal Courts of Justice on the eleventh day of libel trial.
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• US culture wars escalate as Wall Street Journal staff attack their own opinion pages

  21-07-2020 18:57 via uk.finance.yahoo.com
  
  Hundreds of journalists at the Rupert Murdoch-owned Wall Street Journal have mounted an attack on their own newspaper’s opinion pages, accusing editors and contributors of undermining readers’ trust with misinformation and basic errors on topics including coronavirus and racism. In what will be viewed as the latest escalation of the so-called culture wars engulfing American institutions, about 300 reporters, editors, video journalists and newsroom technical staff have signed a letter
  
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• Airline bosses plead to restart Transatlantic travel

  21-07-2020 18:56 via uk.finance.yahoo.com
  
  Four of the world’s biggest airlines are offering to spearhead a radical Covid-19 testing programme to restart lucrative transatlantic services. The bosses of British Airways owner IAG, Germany’s Lufthansa, American Airlines and United have written to US Vice-President Mike Pence and Ylva Johansson, the European Commissioner for Home Affairs, urging them to back a “co-ordinated testing programme”. The letter, seen by The Telegraph, reads: “Given the unquestioned imp
  
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• FAA to propose Boeing 737 MAX directive; ungrounding not expected before October

  21-07-2020 18:44 via uk.finance.yahoo.com
  
  The Federal Aviation Administration (FAA) said on Tuesday it plans to issue a proposed airworthiness directive for the Boeing 737 MAX in the "near future" to address changes made since the plane was grounded in March 2019 after two fatal crashes killed 346 people.Boeing did not immediately comment but has said previously it expects to resume deliveries before Sept. 30 following regulatory approval.The FAA said the public will have 45 days to comment on "proposed design changes and crew procedure
  
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• Boeing 737 MAX not expected to fly before October, FAA preparing directive

  21-07-2020 18:44 via uk.finance.yahoo.com
  
  The Federal Aviation Administration (FAA) said on Tuesday it plans to issue a proposed airworthiness directive for the Boeing 737 MAX in the "near future" to address changes made since the plane was grounded in March 2019 after two fatal crashes killed 346 people.An official briefed on the matter told Reuters that the FAA is unlikely to unground the 737 MAX before sometime in October.Boeing Codid not immediately comment but has said previously it expects to resume deliveries before Sept. 30 foll
  
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• This FTSE 100 household name represents a bargain currently trading at less than 70p per share!

  21-07-2020 18:43 via uk.finance.yahoo.com
  
  Jabran Khan explains why he feels this well known FTSE 100 company represents a potentially great market crash opportunity at a bargain price.The post This FTSE 100 household name represents a bargain currently trading at less than 70p per share! appeared first on The Motley Fool UK.
  
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• Benettons reappoint veteran as chairman of family holding firm

  21-07-2020 18:33 via uk.finance.yahoo.com
  
  Italy's Benetton family reappointed trusted advisor Gianni Mion as chairman of its holding company Edizione for a three-year term on Tuesday and said it would seek to appoint a chief executive to map out a new strategy for the group.The moves come as the family grapples with the fallout of the 2018 Atlantia bridge disaster, which led to the government moving to take control of Atlantia's motorways unit Autostrade per l'Italia earlier this month.The future direction of Edizione, an 18 billion-eur
  
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• Car parts maker Valeo posts loss, cuts costs due to coronavirus hit

  21-07-2020 18:30 via uk.finance.yahoo.com
  
  French car parts maker Valeosaid on Tuesday it swung to a 1.2 billion euro (1 billion pounds) loss in the first half of 2020, after production was hit by the coronavirus crisis, and that it had cut some 10% of staff among measures to reduce costs.Valeo, posted a 28% slide in comparable revenues, said business had begun to pick up again in China and the United States, but added the recovery was slower elsewhere, including in Europe.
  
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• ‘We're at a moment of real change in the world of work’

  21-07-2020 18:26 via bbc.co.uk
  
  RBS has extended homeworking for 50,000 staff - marking a continuing shift in employers' attitudes.
  
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• Bayer launches carbon capture programme for farmers in U.S. and Brazil

  21-07-2020 18:23 via uk.finance.yahoo.com
  
  Bayer AGlaunched a pilot program in the United States and Brazil on Tuesday that will pay farmers for capturing carbon in cropland soils, making it the latest agriculture company to seek to capitalize on environmental initiatives.The company seeks to enroll about 1,200 row crop farmers in its Bayer Carbon Initiative in the first season, with a goal to scale up in upcoming seasons and ultimately expand to other countries, company executives said.The program is the latest in a string of recent env
  
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• Bayer launches carbon capture program for U.S. and Brazil farmers

  21-07-2020 18:23 via uk.finance.yahoo.com
  
  Bayer AGlaunched a pilot program in the United States and Brazil on Tuesday that will pay farmers for capturing carbon in cropland soils, making it the latest agriculture company to capitalize on environmental initiatives.The company seeks to enroll about 1,200 row crop farmers in its Bayer Carbon Initiative in the first season, scale up in upcoming seasons, and ultimately expand to other countries, company executives said.In Brazil, Bayer expects to invest 5 million euros via the program over t
  
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• Apple promises to become fully carbon neutral by 2030

  21-07-2020 18:23 via uk.finance.yahoo.com
  
  Apple promises to become fully carbon neutral by 2030Tech firm says its commitment covers entire supply chain and lifecycle of all its products
  
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• Major airlines ask EU, White House to adopt new COVID-19 testing program

  21-07-2020 18:16 via uk.finance.yahoo.com
  
  Major U.S. and European Union airlines asked the EU and White House Tuesday to consider adopting a joint U.S.-EU COVID-19 testing program as a way to again allow people to travel between the United States and Europe.In a letter to Vice President Mike Pence and Ylva Johansson, the European Commissioner for Home Affairs, the chief executives of American Airlines , United Airlines , Lufthansaand International Airlines Grouprequested "the safe and swift restoration of air travel between the United S
  
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• Airlines ask EU, White House to adopt COVID-19 testing program for passengers

  21-07-2020 18:16 via uk.finance.yahoo.com
  
  Major U.S. and European Union airlines asked the EU and White House on Tuesday to consider a joint U.S.-EU program to test airline passengers for COVID-19 as a way to allow people to travel once again between the United States and Europe.In a letter to U.S. Vice President Mike Pence and Ylva Johansson, the European Commissioner for Home Affairs, the chief executives of American Airlines , United Airlines , Lufthansaand International Airlines Grouprequested "the safe and swift restoration of air
  
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• Markets close higher after EU rescue package sparks positive sentiment

  21-07-2020 18:11 via uk.finance.yahoo.com
  
  The FTSE 100 closed 8.21 points higher at 6,269.73p at the end of trading on Tuesday.
  
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• Australia extends furlough scheme until March

  21-07-2020 18:11 via uk.finance.yahoo.com
  
  Australia will extend its furlough subsidy scheme until March next year, in sharp contrast to the Chancellor's decision to stop helping British employers pay wages at the end of October. The JobKeeper programme has paid A$1,500 (£825) a fortnight - less generous than the UK scheme worth up to £2,500 a month - but will fall to $1,200 a month from the end of September. The JobSeeker scheme that tops up unemployment benefits will fall from A$550 to A$250 a fortnight, leaving recipients
  
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• Ambiguous conditions on EU deal set to embolden Hungary and Poland

  21-07-2020 18:08 via uk.finance.yahoo.com
  
  The European Union's agreement on a coronavirus recovery fund is likely to embolden nationalist leaders in Poland and Hungary because it sets no mechanism for tying the disbursement of money to democratic norms.EU leaders agreed a watered-down wording on conditionality in Brussels on Tuesday after Warsaw and Budapest resisted tougher language that would have put more constraints on them implementing policies that other EU states deem undemocratic.Much will now depend on how quickly and firmly th
  
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• UK company insolvencies to rise sharply as state support measures unravel

  21-07-2020 18:07
  Businesses face ‘double whammy’ of accruing liabilities and withdrawal of government schemes, warns Begbies Traynor
  
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• Relaxation of planning regulations raises community concerns

  21-07-2020 18:04
  Local authority officers warn looser rules in England could lead to substandard housing
  
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• Supreme Court asked to decide whether Uber drivers are workers

  21-07-2020 18:02 via uk.finance.yahoo.com
  
  The Supreme Court has been asked to decide whether Uber drivers should be classed as workers.Uber’s operating companies appealed to the Supreme Court after it lost three earlier rounds of the battle.
  
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• Dutch government raises 1.23 billion euros at first 5G auction

  21-07-2020 17:55 via uk.finance.yahoo.com
  
  The Dutch government said on Tuesday it had raised 1.23 billion euros (1.11 billion pounds) from its first auction for bandwidth for 5G telecommunications.The three companies with mobile networks in the Netherlands, KPN , VodafoneZiggoand T-Mobile, all received bandwidth at the auction, the country's junior economic affairs minister Mona Keijzer said at a news conference in The Hague.In separate statements, KPN, the former national telecoms operator in the Netherlands, said it had paid 416 milli
  
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• US wants trade deal with UK ‘finalised before too long’

  21-07-2020 17:54 via uk.finance.yahoo.com
  
  Reports from the US suggested a trade deal was unlikely before the presidential election in November.
  
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• Man sets himself on fire in court to protest sentencing

  21-07-2020 17:40 via ibtimes.co.uk
  
  The man warned that he would set himself on fire and came through on his threat even after preventive measures were taken.
  
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• Market report: Rolls-Royce lifted by helicopter deal

  21-07-2020 17:34 via uk.finance.yahoo.com
  
  Engineering giant Rolls-Royce got a much-needed boost on Tuesday, after winning the contract to provide engines for a new generation of US army helicopters. The FTSE 100 group will produce the propulsion system for Bell Textron’s V-280 Valor aircraft, which is competing to win the contract for the US Future Long-Range Assault Aircraft programme. Unlike traditional helicopters with a rotor disk, the V-280 has two sets of blades that can be rotated forwards for level flight or upwards to hov
  
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• Greta Thunberg to donate humanitarian prize money worth $1.14 million

  21-07-2020 17:33 via ibtimes.co.uk
  
  Greta Thunberg received $1.14 million humanitarian prize money from Portuguese Foundation
  
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• US accuses Chinese hackers in targeting of Covid-19 research

  21-07-2020 17:26 via uk.finance.yahoo.com
  
  The US Justice Department on Tuesday accused two Chinese hackers of stealing hundreds of millions of dollars of trade secrets from companies across the world, and more recently targeting firms developing a vaccine for the coronavirus. The indictment, which officials expected to discuss at a news conference, says the hackers in recent months had researched vulnerabilities in the computer networks of companies publicly known for their work in developing vaccines and treatments. The indictment incl
  
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• US accuses China of trying to hack coronavirus vaccine research

  21-07-2020 17:26 via uk.finance.yahoo.com
  
  The United States has accused China of using hackers to infiltrate Western companies in an attempt to steal coronavirus vaccine research. According to the US justice department two hackers, working as contractors for China's Ministry of Security, targeted biotech companies in Massachusetts and Maryland known to be working on vaccines. FBI deputy director David Bowdich accused the Chinese government of acting like an "organised criminal syndicate." The US said computer experts Li Xiaoyu and Dong
  
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