Business news

• Priti Patel: Home Secretary takes on Ben and Jerry's over migrant boats

  11-08-2020 23:50 via bbc.co.uk
  
  A Home Office source brands the ice cream "overpriced junk food" after comments on Channel crossings.
  
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• UK finance minister weighs delaying autumn budget on second COVID-19 wave - FT

  11-08-2020 23:45 via uk.finance.yahoo.com
  
  While Sunak expects to deliver his budget as planned, it is a sign of government anxiety over a possible autumn COVID-19 spike that he is ready to delay big public spending decisions until after the crisis, the FT said.Britain risks a second wave of COVID-19 in the winter twice as large as the initial outbreak if it reopens schools full-time without improving its test-and-trace system, according to a study published last week.
  
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• Finance minister weighs delaying autumn budget on second COVID-19 wave - FT

  11-08-2020 23:45 via uk.finance.yahoo.com
  
  While Sunak expects to deliver his budget as planned, it is a sign of government anxiety over a possible autumn COVID-19 spike that he is ready to delay big public spending decisions until after the crisis, the FT said.Britain risks a second wave of COVID-19 in the winter twice as large as the initial outbreak if it reopens schools full-time without improving its test-and-trace system, according to a study published last week.
  
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• U.S. insurers' coronavirus costs are less than feared so far

  11-08-2020 23:39 via uk.finance.yahoo.com
  
  American International Group Incand Chubb Ltdsaid payouts on claims related to the disease accounted for most of their financial hit, which was mostly on property and casualty policies.Others including Travelers Companies Inc , MetLife Incand Prudential Financial Inclost money on their private equity investments due to market declines in the first quarter, which are reported on a three-month lag.Insurers had sounded alarms about potentially crippling payouts if they were required to pay claims r
  
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• Brazil central bank grasps new tool in crisis fight: forward guidance

  11-08-2020 23:31 via uk.finance.yahoo.com
  
  Brazil's central bank has adopted a new "forward guidance" strategy to keep interest rates and bond yields low, bring inflation up to target and stimulate the economy's fragile recovery from the COVID-19 crisis.The move, outlined last week when the bank cut its benchmark Selic rate to a low of 2% and explained in meeting minutes on Tuesday, highlights a reluctance to cut rates further, and even more so to indulge in bond-buying quantitative easing.The practice of reassuring markets that interest
  
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• Tesla sets 5-1 stock split and its high-flying stock soars again

  11-08-2020 23:27 via uk.finance.yahoo.com
  
  Tesla's stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors.Tesla's stock has surged over 200% this year, while shares of General Motorsand Ford Motordeclined on fallout from the coronavirus pandemic.Stock splits are a way for companies to make shares more accessible to retail investors, potentially attracti
  
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• Tesla sets 5-1 stock split and its high-flying stock soar again

  11-08-2020 23:27 via uk.finance.yahoo.com
  
  Tesla's stock, which traded at $1,475 after the announcement, is among the highest priced on Wall Street, and the Palo Alto, California-based company said in a press release it was looking to make its shares more accessible to employees and investors.Tesla's stock has surged over 200% this year, while shares of General Motorsand Ford Motordeclined on fallout from the coronavirus pandemic.Stock splits are a way for companies to make shares more accessible to retail investors, potentially attracti
  
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• Kodak expects sales volumes to rebound after COVID-19 hit

  11-08-2020 23:09 via uk.finance.yahoo.com
  
  The photographic equipment maker's stock plunged on Monday after the U.S. government blocked a $765 million (586.5 million pounds) loan to the company, which was going to make drug ingredients for use in possible COVID-19 vaccines, because of "alleged wrongdoing" by executives.Kodak said on Tuesday investigations by the U.S. Congress and the Securities Exchange Commission have commenced, and could impact the outcome of the loan from the U.S. International Development Finance Corp.
  
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• Sunak weighs delaying autumn Budget on second Covid wave

  11-08-2020 22:31
  Chancellor ready to shelve public spending plans until after coronavirus crisis
  
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• Explainer: How the U.S. could block WeChat and TikTok from Americans

  11-08-2020 22:24 via uk.finance.yahoo.com
  
  It would mark the first time the United States has attempted to shut down widely used mobile internet apps.How would the U.S. go about blocking access to TikTok and WeChat?The administration could order smartphone software giants Apple Incand Alphabet Inc'sGoogle to remove WeChat and TikTok from their app stores.
  
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• Polestar would like public listing eventually but focus now on electric sedan launch - CEO

  11-08-2020 22:20 via uk.finance.yahoo.com
  
  Polestar, the premium electric vehicle maker owned China's Geely and Volvo Cars, would like to eventually be publicly listed, but the immediate focus is on successfully launching the new Polestar 2 electric sedan, the startup's chief executive said on Tuesday."The mid- and long-term perspective indeed is to be ... open for the stock market and an IPO," CEO Thomas Ingenlath told reporters on a conference call."This is indeed one track that is absolutely still on and has not changed" since Volvo C
  
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• Mike Ashley's Frasers Group delays results for second year running

  11-08-2020 21:00 via uk.finance.yahoo.com
  
  Mike Ashley's Frasers Group delays results for second year runningCompany formerly called Sports Direct says it needs more time to complete this year’s accounts following chaotic announcement in 2019
  
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• Blackface photos banned from Facebook and Instagram

  11-08-2020 20:57 via uk.finance.yahoo.com
  
  Facebook and its sister service Instagram will ban images of blackface and content that depicts Jewish people controlling the world as part of a global crackdown on harmful stereotypes. The social media giant said it will remove all "implicit" hate speech used to "disparage, intimidate or exclude" people based on their race or religion, as well as more explicit attacks. The ban, which comes into force later this month, will apply to "caricatures of black people" that make use of blackface, as we
  
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• Athletes’ village axed for Commonwealth Games

  11-08-2020 20:45
  Ministers to take tighter control over preparations for the 2022 showpiece event in Birmingham
  
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• U.S. lawmakers trade barbs on coronavirus aid, no talks on deal

  11-08-2020 20:43 via uk.finance.yahoo.com
  
  The U.S. Senate's top Republican and Democrat criticized each others' approach to coronavirus aid on Tuesday, with no word on when talks on a new package might resume and no movement on benefits for tens of millions who lost jobs in the crisis.Republican Senate Majority leader Mitch McConnell accused Democrats of attacking Americans struggling with the economic fallout of a virus that has infected more than 5 million Americans and killed more than 162,000."They're playing hardball against kids,
  
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• Jobless youth risk lifelong 'scarring' from pandemic - ILO

  11-08-2020 20:26 via uk.finance.yahoo.com
  
  Young people who have lost jobs or schooling during the COVID-19 pandemic risk carrying "scarring effects" throughout their working lives unless governments provide immediate support, the International Labour Organization (ILO) said on Tuesday.An ILO poll of 12,000 youths in 112 countries showed in May that more than one in six people under 24 had stopped working during the pandemic, while the U.N. agency said in its latest report that more than 70% of students had also seen closures of schools,
  
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• Stories of jobseekers show true impact of Covid-19 on employment

  11-08-2020 20:17 via uk.finance.yahoo.com
  
  Stories of jobseekers show true impact of Covid-19 on employment. Many have taken jobs in new industries, while others are underemployed and struggling with bills
  
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• Few U.S. firms see Trump's Phase 1 China trade deal as worth tariff costs - survey

  11-08-2020 20:17 via uk.finance.yahoo.com
  
  The trade group said that just 7% of respondents to its annual membership survey said that the benefits from the Phase 1 agreement outweigh the costs of tariffs incurred along the way.The Phase 1 trade deal, activated on Feb. 15, calls for China to increase purchases of U.S. farm and manufactured products, energy and services by $200 billion over two years, along with increased U.S. access to China's financial services markets, and some improvements in intellectual property protections.
  
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• British Airways reaches deal in principle with some Heathrow staff

  11-08-2020 20:09 via uk.finance.yahoo.com
  
  British Airwayshas agreed a deal with trade unions representing parts of its workforce in Heathrow over planned job cuts, with the airline's chief executive saying significant progress had been made in a message to staff on Tuesday."I am pleased to report we have made significant progress in these areas with both unions which will help us to save jobs and mitigate the impact of redundancies," BA Chief Executive Alex Cruz said in an internal message seen by Reuters.Customer-facing ground staff at
  
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• UK government urged to justify £108m contact-tracing deal with Serco

  11-08-2020 20:08 via uk.finance.yahoo.com
  
  UK government urged to justify £108m contact-tracing deal with Serco. Email leaked to shadow health minister prompts questions over whether company was cherry-picked
  
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• Met Police to end investigation into Stephen Lawrence murder

  11-08-2020 20:04 via uk.finance.yahoo.com
  
  The Metropolitan Police is to end its investigation into the murder of black teenager Stephen Lawrence who was killed during a racist attack in 1993.
  
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• Cannabis industry readies for M&A after COVID-19 boosts weed demand

  11-08-2020 20:03 via uk.finance.yahoo.com
  
  The strong balance sheet allows it to pursue acquisitions and the current market conditions would provide frequent opportunities, a company spokesman said.Canopy is backed by Corona beer maker Constellation Brands Inc .Since its peak in August 2018 in the run-up to Canada's legalization of recreational weed, cannabis stocks tracker MJ ETFhas dropped 70%.
  
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• Airbnb pushes toward IPO as it recovers from coronavirus travel slump

  11-08-2020 19:50 via uk.finance.yahoo.com
  
  Airbnb is planning to file for a US float in the coming weeks, putting the short-term rental company on course to go public by the end of this year. The company expects to file confidentially for an initial public offering as soon as this month, The Telegraph understands. The company could be worth more than $30bn (£23bn) after emerging from the pandemic-induced travel slump stronger than many had expected. Airbnb, which lets landlords rent out rooms or properties and takes a portion of ea
  
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• Uber and Lyft should treat drivers as employees

  11-08-2020 19:38
  Gig economy companies are under mounting pressure to meet their obligations
  
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• Twitter users can now control who replies to their tweet

  11-08-2020 19:37 via uk.finance.yahoo.com
  
  All accounts, including those of elected officials, can now select the people who will be allowed to reply while composing a new tweet, Twitter said.Users can select from three sets of people - everyone, only people they follow and only people they mention in the tweet.This feature would also enable Twitter users carry out better conversations and limit their exposure to online trolls and abusers.
  
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• 'Bullying' Apple fights couple over pear logo

  11-08-2020 19:08 via bbc.co.uk
  
  The owners of the Prepear recipe app are speaking out after Apple tried to block their pear logo.
  
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• British Airways hails ‘significant progress’ with unions over restructuring

  11-08-2020 18:44
  Deal does not apply to cabin crew but covers engineers and some consumer-facing staff at Heathrow
  
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• Facebook and other tech giants 'too big to fail'

  11-08-2020 18:32 via uk.finance.yahoo.com
  
  Facebook and other tech giants 'too big to fail'. Researchers call for new regulations to protect users, and society, in case of collapse
  
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• Facebook 'too big to fail', says Oxford University research paper

  11-08-2020 18:32 via uk.finance.yahoo.com
  
  Facebook 'too big to fail', says Oxford University research paper. Authors argue new regulations are needed to protect users, and society, in case of collapse
  
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• U.S. appeals court reverses antitrust ruling against Qualcomm

  11-08-2020 18:31 via uk.finance.yahoo.com
  
  The United States Ninth Circuit Court of Appeals also vacated an injunction that would have required Qualcomm to change its intellectual property licensing practices.Qualcomm was fighting a May 2019 decision by U.S. District Judge Lucy Koh in San Jose, California.
  
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• European markets shake off economic concerns amid US pandemic relief

  11-08-2020 18:26 via uk.finance.yahoo.com
  
  The FTSE 100 closed 103.75 points higher at 6,154.34 at the end of trading on Tuesday.
  
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• I see these two FTSE 100 firms as obviously mispriced, so I’d buy both shares today!

  11-08-2020 18:22 via uk.finance.yahoo.com
  
  The time to hunt for cheap FTSE 100 shares is in market meltdowns and volatile times. I like the look of these two cheap stocks to buy today.The post I see these two FTSE 100 firms as obviously mispriced, so I'd buy both shares today! appeared first on The Motley Fool UK.
  
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• Dividend cuts: I think these stocks should avoid the chop

  11-08-2020 18:19 via uk.finance.yahoo.com
  
  With BP being one of the latest big companies to cut its dividend, here are two better dividends for income that I see as safe. The post Dividend cuts: I think these stocks should avoid the chop appeared first on The Motley Fool UK.
  
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• First-time buyers find property ladder even more slippery

  11-08-2020 18:18 via uk.finance.yahoo.com
  
  Tens of thousands fewer first-time buyers are getting on the property ladder as surging prices condemn a generation to a lifetime of renting, the Bank of England has found. The number of first-time buyers has slumped by almost a quarter since 2006 as the housing crisis deepened with about 243,000 transactions made in 2018, its economists calculated. The drop has not led to a significant rise in the average age of first-time buyers, as many young property hunters appear to have been frozen out of
  
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• Molecular Partners shares rise on Swiss govt COVID drug deal

  11-08-2020 18:13 via uk.finance.yahoo.com
  
  Shares in biotechnology firm Molecular Partnersclosed 19% higher on Tuesday after the company announced a multi-million dollar deal with the Swiss government to reserve doses of an early-stage drug candidate against COVID-19.Following the failure of its eye treatment abicipar in the United States, Molecular Partners is seeking to rebound with the experimental drug, called MP0420, against COVID-19.The Swiss government is broadening efforts against the novel coronavirus, having last week struck an
  
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• Molecular Partners shares rise on Swiss government COVID drug deal

  11-08-2020 18:13 via uk.finance.yahoo.com
  
  Shares in biotechnology firm Molecular Partnersclosed 19% higher on Tuesday after the company announced a multi-million dollar deal with the Swiss government to reserve doses of an early-stage drug candidate against COVID-19.Following the failure of its eye treatment abicipar in the United States, Molecular Partners is seeking to rebound with the experimental drug, called MP0420, against COVID-19.The Swiss government is broadening efforts against the novel coronavirus, having last week struck an
  
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• Boris Johnson warns 'long, long way to go' for UK economy

  11-08-2020 17:53 via bbc.co.uk
  
  The number of people employed between April and June fell by the most since the financial crisis.
  
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• U.S.-China trade deal is 'fine', China still buying U.S. goods - Kudlow

  11-08-2020 17:48 via uk.finance.yahoo.com
  
  China is continuing to buy U.S. goods and particularly commodities under the U.S.-China Phase 1 trade deal signed in January, despite rising tensions on Hong Kong and other issues, White House economic adviser Larry Kudlow said on Tuesday.Asked if deteriorating ties between the world's two largest economies on other fronts could result in the trade deal being thrown out the window, Kudlow said, "No, no."
  
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• U.S.-China trade deal in 'fine' shape, White House's Kudlow says

  11-08-2020 17:48 via uk.finance.yahoo.com
  
  China is continuing to buy U.S. goods, particularly commodities, under its Phase 1 trade deal with the United States, despite rising tensions over Hong Kong and other issues, top White House economic adviser Larry Kudlow said on Tuesday.Asked if deteriorating ties between the world's two largest economies on other fronts could result in the trade deal being thrown out the window, Kudlow said, "No, no."
  
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• Mercedes F1 chief Toto Wolff ready to go to court over Racing Point 'copying' scandal

  11-08-2020 17:44 via ibtimes.co.uk
  
  Racing Point has been embroiled in controversy for allegedly copying a brake duct design from Mercedes.
  
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• Police confirm remains found in river is a man missing since 1991

  11-08-2020 17:38 via ibtimes.co.uk
  
  Examination of the human remains found in a submerged car turned out to be that of missing man James Patterson.
  
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• Chinese US listings: cease and delist

  11-08-2020 17:34
  Ejecting companies from exchanges for not meeting accounting standards is a mistake
  
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• Wondering what shares to buy now? I’d do this to get rich and retire early

  11-08-2020 17:32 via uk.finance.yahoo.com
  
  What shares to buy now? It's quite a hard question given that there's plenty of uncertainty right now. Here's how I'd try to get rich.The post Wondering what shares to buy now? I'd do this to get rich and retire early appeared first on The Motley Fool UK.
  
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• Financier Tim Horlick defends role in controversial £253m PPE contract

  11-08-2020 17:30 via uk.finance.yahoo.com
  
  A City trader who supplied millions of unused facemasks to the NHS has insisted his firm was acting with the nation's best interests at heart, but refused to say how much profit it made from the £253m deal. Tim Horlick - whose company Ayanda Capital won the taxpayer-funded contract at the height of the Covid crisis - denied suggestions of cronyism. He said Ayanda had the relevant skills for the job despite a lack of any experience in the industry. Ayanda was thrown into the spotlight last
  
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• The BAE Systems share price – where next?

  11-08-2020 17:26 via uk.finance.yahoo.com
  
  The BAE Systems (LON:BA.) share price has risen by 9.04% over the past month and it’s currently trading at 525.6p. For investors considering whether to buy, ho...
  
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• This FTSE 100 share is down 60% since December. I’d be a brave, bold buyer today!

  11-08-2020 17:20 via uk.finance.yahoo.com
  
  This FTSE 100 firm has suffered far more than most during the Covid-19 crisis. But it's still a sound business, so I'd boldly buy its shares.The post This FTSE 100 share is down 60% since December. I'd be a brave, bold buyer today! appeared first on The Motley Fool UK.
  
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• Why Valero Energy could appeal to contrarian value investors

  11-08-2020 17:19 via uk.finance.yahoo.com
  
  Contrarian value investors are always on the look-out for shares that the market has overlooked. In times of economic uncertainty - when stock prices become er...
  
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• Germany mulling requests from at least 14 firms for state aid

  11-08-2020 17:17 via uk.finance.yahoo.com
  
  Germany is examining requests from at least 14 companies for state aid that could see the government take on more stakes in privately held firms due to the COVID-19 pandemic, an economy ministry document showed on Tuesday.In March, Chancellor Angela Merkel and Finance Minister Olaf Scholz established an Economic Stabilisation Fund worth 600 billion euros (540 billion pounds) to help large corporations survive the coronavirus shock via loans and direct stakes.Deputy Economy Minister Ulrich Nussba
  
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• Momentum investing with Co-diagnostics Inc (NAQ:CODX)

  11-08-2020 17:16 via uk.finance.yahoo.com
  
  Intriguing research into stock market price trends shows that investors behave strangely when a stock trades close to its 52-week high... Despite flying high,...
  
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• Exclusive: How Venezuela lost three oil supertankers to its Chinese partner

  11-08-2020 17:11 via uk.finance.yahoo.com
  
  A shipping joint venture between Venezuela and China has fallen apart in the wake of U.S. sanctions, resulting in the South American nation losing three supertankers at a time when foreign shippers are reluctant to carry its oil, court documents show.PetroChina Co Ltd , which had been state-run Petroleos de Venezuela's [PDVSA.UL] partner in the Singapore-based joint venture CV Shipping Pte Ltd, took control of the three tankers between January and February, according the documents from a Singapo
  
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