Business news

• Moderna vaccine protects against COVID-19 in monkey study

  28-07-2020 23:38 via uk.finance.yahoo.com
  
  The vaccine, MRNA-1273, given to non-human primates protected against infection in the lungs and nose, and prevented pulmonary disease in all animals, the company said in a news release.Results of the study in rhesus macaque monkeys were published in the New England Journal of Medicine.It appeared to be an improvement over results of AstraZeneca'sCOVID-19 vaccine in a similar study.
  
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• UK sets up 500 million pound emergency insurance fund for film and TV

  28-07-2020 23:34 via uk.finance.yahoo.com
  
  Britain has announced a 500 million-pound fund to help television and film companies restart productions after companies complained they were unable to get insurance because of the coronavirus pandemic.Shoots shut down abruptly in March as the novel coronavirus spread and the government imposed a lockdown.The government said the insurance fund will be available to all productions made by companies where at least half the production budget is spent in the UK, and is estimated to cover more than 7
  
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• Tourist hotspots hit hardest in UK by Covid-19 unemployment

  28-07-2020 23:30 via uk.finance.yahoo.com
  
  Tourist hotspots hit hardest in UK by Covid-19 unemployment. Analysis by Labour finds percentage rise of benefit claimants far outstrips other areas
  
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• Facebook's Zuckerberg to defend company before U.S. Congress by listing competitors

  28-07-2020 23:15 via uk.finance.yahoo.com
  
  Facebook Inc'schief executive, Mark Zuckerberg, will defend the social media company before a congressional hearing on Wednesday by saying it faces intense competition, justifying its acquisitions and pointing to China's growth as an internet superpower.Both are owned by Facebook.
  
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• Facebook, Amazon CEOs to defend their companies before U.S. Congress by listing competitors

  28-07-2020 23:15 via uk.finance.yahoo.com
  
  Amazon.com IncChief Executive Jeff Bezos and Facebook Inc'sMark Zuckerberg will defend their respective companies before a congressional hearing on Wednesday by saying they face intense competition from large rivals.Bezos and Zuckerberg's written testimony, made public on Tuesday, will be presented to a panel of lawmakers investigating how their business practices and data gathering have hurt smaller rivals.Also testifying are the CEOs of Alphabet Inc's Googleand Apple Inc .
  
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• Big Tech CEOs to defend their companies before U.S. Congress by listing competitors

  28-07-2020 23:15 via uk.finance.yahoo.com
  
  The chief executives of four of the world's largest tech companies, Amazon.com Inc , Facebook Inc , Appleand Alphabet's Google , plan to argue in a congressional hearing on antitrust on Wednesday that they face intense competition from each other and from other rivals.The testimony from Amazon's Jeff Bezos, Facebook's Mark Zuckerberg, Google's Sundar Pichai and Apple's Tim Cook, which was released Tuesday, portrays four chief executives who are looking over their shoulders at competitors who cou
  
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• Mackenzie Scott donates $1.7 billion of her wealth since split with Jeff Bezos

  28-07-2020 22:58 via uk.finance.yahoo.com
  
  MacKenzie Scott, ex-wife of Amazon.com Inc'sbillionaire Chief Executive Jeff Bezos, has donated $1.7 billion of her wealth in the past year to causes including racial equality, LGBTQ rights, public health and climate change, she said in a blog post on Tuesday.Scott, who was previously known as MacKenzie Bezos, also announced her new last name, which she said was taken from her middle name.Last year, Scott signed the Giving Pledge in a commitment to donate the majority of her fortune after her sp
  
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• Moderna pitches virus vaccine at around $50-$60 per course - FT

  28-07-2020 22:52 via uk.finance.yahoo.com
  
  A Moderna spokesperson said the company was in discussions with governments about potential supply of mRNA-1273, but did not give any details on pricing "given the confidential nature of the discussions and contracts".Moderna's proposed price of $50 to $60 for a course, or $25 to $30 per dose, is higher than that pitched by Pfizer Incand its German partner BioNTechin a $2 billion deal with the U.S. government at $39 for a course, or $19.50 per dose.Pfizer, Moderna and Merck & Cohave said the
  
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• Moderna aims to price coronavirus vaccine at $50-$60 per course - FT

  28-07-2020 22:52 via uk.finance.yahoo.com
  
  Moderna's proposed price for a two-dose course sold to governments compares with $39 for two doses under a deal that Pfizer Inc and German partner BioNTech struck with the U.S. government.Industry analysts said Pfizer and BioNTech's $2 billion deal to cover 50 million patients, which is contingent on an approvable product, would likely pressure other manufacturers to set similar prices.
  
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• Final moments before footballer's killing

  28-07-2020 22:40 via uk.finance.yahoo.com
  
  Jordan Sinnott, 25, died in hospital after being punched a number of times and knocked to the floor in a brutal assault in Nottinghamshire.
  
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• EBay beats second-quarter sales estimates, raises full-year outlook

  28-07-2020 22:37 via uk.finance.yahoo.com
  
  Business has been booming for e-commerce firms and companies with strong online presence as the COVID-19 pandemic has led more people to use their mobile phones and computers to shop.EBay has also been had been under pressure from activist investors Elliott Management Corp and Starboard Value, following which the company last week agreed to sell its classified ads business to Norway's Adevintain a deal worth $9.2 billion.
  
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• EBay beats second-quarter profit estimates, raises FY outlook

  28-07-2020 22:37 via uk.finance.yahoo.com
  
  Business has been booming for e-commerce firms and companies with strong online presence as the COVID-19 pandemic has led more people to use their mobile phones and computers to shop.Ebay now expects full-year adjusted profit between $3.47 and $3.59 per share.Wedbush analyst Ygal Arounian said that e-commerce related stocks have largely outperformed since the beginning of the pandemic and expectations are really high.
  
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• Starbucks says business 'steadily recovering' as stores reopen

  28-07-2020 22:11 via uk.finance.yahoo.com
  
  The Seattle-based company, like many restaurants and coffee chains, took a big hit from government-imposed restrictions to check the spread of the pandemic, prompting it to rely more on its delivery and drive-thru services to make up for lost business."We firmly believe that we are well positioned to regain the positive business momentum we had before the pandemic," Chief Executive Officer Kevin Johnson said.Third-quarter comparable sales fell 40% globally and 41% in the Americas.
  
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• Cas says Manchester City should be 'severely reproached' for obstructing Uefa's investigations

  28-07-2020 21:13 via uk.finance.yahoo.com
  
  Manchester City should be "severely reproached" for showing "blatant disregard" for Uefa’s financial fair play investigations, according to the sporting appeal court which quashed their two-year European ban. Full written evidence from the Court of Arbitration for Sport ruling which spared City earlier this month discloses how the club repeatedly obstructed the initial investigation by refusing to hand over evidence because they claimed it was illegally hacked. The Uefa charges were not &l
  
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• How Business Intelligence Reports Help Enterprise Leaders Achieve More

  28-07-2020 20:46 via ibtimes.co.uk
  
  The coronavirus pandemic and the resulting economic recession has brought about a lot of uncertainty in the business landscape.
  
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• Boohoo must publish its independent review in full

  28-07-2020 20:15 via uk.finance.yahoo.com
  Boohoo must publish its independent review in full. To show it means business the fast fashion firm should offer more than an ‘update’
  
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• Virgin Galactic unveils space plane's cabin, poised for commercial flights

  28-07-2020 19:57 via uk.finance.yahoo.com
  
  Billionaire Richard Branson's space tourism firm Virgin Galactic revealed the interior of its centerpiece space plane on Tuesday, showing off a cabin with new custom seats and a "space mirror" in a virtual tour of what its passengers can expect to experience on flights to the edge of space.For $250,000 a ticket, passengers who have signed up for the suborbital flight aboard the air-launched plane VSS Unity will strap into six tailored, teal-colored seats and peer out of the cabin's 12 circular w
  
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• Virgin Galactic shows off new space plane's cabin

  28-07-2020 19:57 via uk.finance.yahoo.com
  
  Billionaire Richard Branson's space tourism firm Virgin Galactic revealed the interior of its centrepiece space plane on Tuesday, showing off a cabin with new custom seats and a "space mirror" in a virtual tour of what its passengers can expect to experience on flights to the edge of space.For $250,000 a ticket, passengers who have signed up for the suborbital flight aboard the air-launched plane VSS Unity will strap into six tailored, teal-colored seats and can peer out of the cabin's 12 circul
  
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• Florida man accused of using coronavirus relief funds to buy £245,000 Lamborghini sports car

  28-07-2020 19:45 via uk.finance.yahoo.com
  
  A 29-year-old man from Florida has been charged with fraud after he allegedly used coronavirus relief funds to buy an expensive sports car.David T Hines, of Miami, was charged with fraudulently obtaining $3.9 million (£3 million) in Paycheck Protection Program (PPP) loans to buy luxury items.
  
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• HSBC pledges to double number of black directors

  28-07-2020 19:13 via uk.finance.yahoo.com
  
  HSBC pledges to double number of black directorsInternal memo from CEO lists ‘feeling of mistrust’ among personnel at global bank’s silence on issues of race
  
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• Help to buy scheme may be extended beyond 2020

  28-07-2020 19:09 via uk.finance.yahoo.com
  
  Help to buy scheme may be extended beyond 2020. Government pressured to help UK housebuilders and extend homebuying subsidies
  
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• Help to buy scheme deadline may be extended beyond 2020

  28-07-2020 19:09 via uk.finance.yahoo.com
  
  Help to buy scheme deadline may be extended beyond 2020. Treasury pushed to help UK housebuilders and extend subsidies for construction delayed by Covid-19 lockdown
  
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• App Store chief says Apple aimed to level playing field for developers

  28-07-2020 19:00 via uk.finance.yahoo.com
  
  Apple tightly controls the App Store, which forms the centerpiece of its $46.3 billion(35.96 billion pounds)-per-year services business.Developers have criticized Apple's commissions of between 15% and 30% on many App Store purchases, its prohibitions on courting customers for outside signs-ups, and what some developers see as an opaque and unpredictable app-vetting process.
  
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• JPMorgan's development finance arm structures first deal

  28-07-2020 18:53 via uk.finance.yahoo.com
  
  JPMorgan's 's development finance institution has structured its first deal, a $250 million (194 million pounds) five-year green bond for a power firm in Georgia, as it targets $100 billion for development projects annually, executives say.The deal for Georgia Global Utilities, to be settled on Thursday, is the first where that arm of the bank has been named development finance structuring agent.Adding developmental finance and green funding to the deal, meaning capital is raised to support econ
  
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• John Lewis hires new HR boss as fears grow over mass job cuts

  28-07-2020 18:51 via uk.finance.yahoo.com
  
  John Lewis has appointed a new HR boss as fears grow over a wave of job cuts. Nikki Humphrey will preside over the partnership’s 80,000 staff when she takes the role in October after standing down as chief people officer at airline Virgin Atlantic. It comes as John Lewis scrambles to restore its fortunes and prepares to shut stores for good after being forced to close during lockdown. The department chain's chairman Dame Sharon White has embarked on a string of senior hires since taking ch
  
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• Union warns BA of 'immediate' strike ballot over plans to cut 12,000 jobs

  28-07-2020 18:48 via uk.finance.yahoo.com
  
  Union warns BA of 'immediate' strike ballot over plans to cut 12,000 jobsUnite accuses airline of setting out to fire and rehire thousands of workers on less favourable terms
  
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• Ferragamo sales fall 60% in quarter most affected by COVID crisis

  28-07-2020 18:48 via uk.finance.yahoo.com
  
  Sales at Italian fashion group Salvatore Ferragamofell by 60% in the second quarter, the hardest hit by the coronavirus crisis due to global lockdown measures.The virus outbreak, with its shop closures and tourism slowdown, hit the group at a time when Chief Executive Micaela Le Divelec was leading a brand re-launch.Last year, the group returned to sales growth for the first time since 2015 but in May it called back former CEO Michele Norsa as executive vice chairman to weather the COVID-19 stor
  
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• Market report: Lockdown losses hit home at Foxtons

  28-07-2020 18:37 via uk.finance.yahoo.com
  
  London-focused estate agent Foxtons suffered a 20pc slump in revenue during the first half of the year, underlining the impact of coronavirus on the housing market. Sales fell from £51.8m to £40.4m during the six months to the end of June as the pandemic halted viewings and sales. Revenue fell in all areas of the business – lettings by 21pc to £25.7m; sales by 28pc to £11.1m; and mortgage broking by 9pc to £3.6m. Sales volumes fell 28.1pc to 858 transactions,
  
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• Once Canada's oil relief valve, rail shipping grinds to near halt

  28-07-2020 18:34 via uk.finance.yahoo.com
  
  After moving record-large Canadian oil volumes by rail just five months ago, shippers have hit the brakes, idling thousands of cars and tens of millions of dollars' worth of infrastructure.Rail was Canada's oil lifeline in recent years when cheaper pipelines ran full and crude had no other exit from landlocked Alberta.Cenovus said last week it was spending as much as C$20 million (11.57 million pounds) per month for its suspended rail program, one-quarter of the costs when it is fully active, bu
  
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• Spain's airport operator Aena swings to first half loss as air travel plunges

  28-07-2020 18:33 via uk.finance.yahoo.com
  
  Spanish airport operator Aena swung to a 170.7 million euro (155.3 million pounds) loss in the first half of 2020 from a profit of 559 million euros a year ago, it said on Tuesday, as the coronavirus pandemic brought global air travel to a near standstill.Aena's revenue almost halved over the same period to 1.09 billion euros from 2.07 billion euros.
  
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• FTSE makes gains as housing stocks bounce after help-to-buy reports

  28-07-2020 18:33 via uk.finance.yahoo.com
  
  London’s top flight closed 24.38 points higher at 6,129.26p at the end of trading on Tuesday.
  
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• Gucci owner Kering says outlook unclear as virus hammers sales

  28-07-2020 18:22 via uk.finance.yahoo.com
  
  French luxury group Keringsaid second-quarter comparable sales had plunged by 43.7% due to the coronavirus pandemic, adding it could not provide a forecast for the second half of the year despite an encouraging recovery in Asia.The sales drop at the conglomerate that owns Gucci was a touch better than analyst expectations, with those at UBS citing a consensus for a 46% fall.Rival LVMHmanaged to limit its own sales decline to 38%, though its operating margins were hit hard, limping in at 9% while
  
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• Portugal's Millennium bcp profit drops 55% as pandemic bites

  28-07-2020 18:18 via uk.finance.yahoo.com
  
  Portugal's largest private bank, Millennium bcp , reported on Tuesday a 55.3% drop in first-half net profit to 76 million euros (69 million pounds), after costly provisions to offset the economic impact of the coronavirus outbreak.Portugal is entering its worst recession in a century due to the pandemic, with the country's central bank forecasting the economy will contract 9.5% this year, much worse than the government's own estimate of a 6.5% drop."Results were heavily influenced by this entire
  
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• Stock market crash: I’d invest £5k in these 2 FTSE 100 shares in an ISA

  28-07-2020 18:11 via uk.finance.yahoo.com
  
  The stock market crash offers a massive opportunity for investors looking to make a million for retirement. I'd check out these two FTSE 100 stocks.The post Stock market crash: I’d invest £5k in these 2 FTSE 100 shares in an ISA appeared first on The Motley Fool UK.
  
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• Virgin Galactic reveals inside of spaceship that will carry tourists off the Earth

  28-07-2020 18:10 via uk.finance.yahoo.com
  
  Virgin Galactic has revealed the inside of the spacecraft that will be used to carry its tourists off the Earth.During a live reveal, it showed the interior of its first SpaceShipTwo vehicle, known as VSS Unity.
  
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• Germany's IDT warns against equipment price hike in scramble for COVID-19 vaccine

  28-07-2020 18:05 via uk.finance.yahoo.com
  
  A scramble to produce COVID-19 vaccines is pushing up prices for some bottling equipment and other raw materials, adding to industry concerns about limited output, a German vaccine makertold Reuters.Family-owned IDT Biologika produces viral vaccines for pharmaceutical companies and is working on six COVID-19 projects including AstraZeneca'sexperimental vaccine which has been co-developed by Oxford University.Based in Dessau-Rosslau in east Germany, IDT said it is seeing bottlenecks for equipment
  
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• Five young women in Egypt sentenced to 2 years in prison for indecent posts on TikTok

  28-07-2020 18:05 via ibtimes.co.uk
  
  Egyptian Parliament seeks to suspend TikTokfor promoting nudity and immorality.
  
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• What to expect as the world's first space tourist on Virgin Galactic (it includes days of prep)

  28-07-2020 18:03 via uk.finance.yahoo.com
  
  The starting gun on the race to get the first tourists into space went off a while ago now. Both Richard Branson’s Virgin Galactic VSS Unity and Jeff Bezos’ Blue Origin space crafts are currently vying for the lead. The fact that Virgin Galactic, which has completed two successful crewed test flights in the past eighteen months, has just unveiled its passenger cabin, is a strong indication that Branson’s team is on the home stretch to launching the world’s first commercia
  
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• Carrefour raises cost savings goal as first-half core profits rise

  28-07-2020 18:03 via uk.finance.yahoo.com
  
  French supermarket retailer Carrefouron Tuesday raised its cost savings goal under its strategic overhaul plan as Europe's largest retailer delivered cost cuts of 480 million euros (436 million pounds) in the first half of 2020.Carrefour said group operating profits rose 29.1% at constant exchange rates from the same period last year to 718 million euros.Carrefour said it was now targeting cost savings of 3.0 billion euros on an annual basis by the end of 2020 against a previous target of 2.8 bi
  
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• Amber Heard gives statement outside High Court

  28-07-2020 18:00 via uk.finance.yahoo.com
  
  Actress Amber Heard has given a statement outside the Royal Courts of Justice in London as her ex-husband's - Actor Johnny Depp - libel case against News Group Newspapers concludes.
  
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• Here’s why I see the Aviva share price as a top ISA buy today

  28-07-2020 17:57 via uk.finance.yahoo.com
  
  The Aviva share price has slumped in 2020, and the dividend has been suspended. But with a new boss at the helm, I rate it a strong buy.The post Here's why I see the Aviva share price as a top ISA buy today appeared first on The Motley Fool UK.
  
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• A woman and two toddlers found dead in her car after suspected overdose

  28-07-2020 17:39 via ibtimes.co.uk
  
  Reports suggest the mother died of overdose before her daughters died of heatstroke.
  
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• Ending UK furlough scheme will fuel unemployment, think-tank warns

  28-07-2020 17:27
  Decision not to extend support will push joblessness to 10% by end of year and create ‘scarring effects’, says NIESR
  
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• Facebook boycott grows as US activists urge European firms to act

  28-07-2020 17:23 via uk.finance.yahoo.com
  
  Facebook boycott grows as US activists urge European firms to act. Growing number of companies withdraw advertising over failure to deal with hate and misinformation
  
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• Controversial moustache of US ambassador to South Korea finally gets the razor blade

  28-07-2020 17:23 via ibtimes.co.uk
  
  The ambassador shaved off his moustache, which has offended South Koreans because it reminds them of brutal Japanese colonial rulers.
  
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• Nasa Mars mission: UK scientists to choose pieces of red planet's surface to bring back to Earth

  28-07-2020 17:21 via uk.finance.yahoo.com
  
  Scientists are to select the pieces of Mars that will one day be brought back to Earth.Researchers hope that studying the samples of rock and soil from its surface could help them look for life on the red planet.
  
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• McDonald’s facing bumpy recovery as second quarter sales fall 30%

  28-07-2020 17:14 via uk.finance.yahoo.com
  
  McDonald’s said second-quarter net income fell 68% to £375 million.
  
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• U.S. homeownership rate rises to highest level since 2008

  28-07-2020 17:12 via uk.finance.yahoo.com
  
  The homeownership rate rose to 67.9% in the April-June quarter, up from 65.3% in the first quarter, a record increase, according to a report from the Commerce Department released on Tuesday.The homeownership rate was 64.1% a year ago.
  
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• Kayakers pull woman to shore after being fatally mauled by shark

  28-07-2020 17:10 via ibtimes.co.uk
  
  The swimmer was pronounced dead by medics after she was pulled out of the water by the two kayakers.
  
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• China and EU to speed up negotiation on investment agreement

  28-07-2020 17:05 via uk.finance.yahoo.com
  
  China and the European Union will accelerate negotiations in order to conclude a China-EU investment agreement by the end of this year, Chinese Vice Premier Liu He said on Tuesday.China and the EU will also continue to strengthen macro economic policy adjustments and implement effective fiscal and monetary policies to push forward global economic recovery, Liu said in a statement published by China's ministry of commerce.Liu was speaking after an online meeting with European Commission executive
  
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