Business news

• UK bailout talks for Jaguar Land Rover and Tata Steel fall through - FT report

  14-08-2020 23:37 via uk.finance.yahoo.com
  
  The report https://www.ft.com/content/ea0f0775-d97e-4aba-9ec9-7da1945f2a1a said that talks for an emergency funding fell through as Jaguar Land Rover (JLR) did not qualify for taxpayer support.It is the luxury car unit of India's Tata Motors Ltdand Tata Steel, both owned by Indian conglomerate Tata Group."Tata Steel remains in ongoing and constructive talks with the UK Government on areas of potential support," Tata Steel said in an emailed statement.
  
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• U.S. prosecutors probe ex-NASA official, Boeing over space contract - sources

  14-08-2020 23:28 via uk.finance.yahoo.com
  
  The U.S. Justice Department has opened a criminal probe into whether NASA's former head of human spaceflight gave Boeing Coimproper guidance during a lucrative lunar-lander contract competition, two people familiar with the matter said on Friday.The Justice Department has sent subpoenas to NASA, Boeing and Doug Loverro, who led the agency's marquee space travel program until he resigned abruptly in May, as part of a grand-jury investigation into the possible violation of federal procurement laws
  
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• 'Blackmailers stole our Instagram account'

  14-08-2020 23:25 via bbc.co.uk
  
  What happens when a small company is extorted after losing control of its Instagram account?
  
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• My Money: 'My mum's advice saved me from lockdown anxiety'

  14-08-2020 23:21 via bbc.co.uk
  
  Lexy Oliver from Cheshire takes us through her week during the coronavirus pandemic.
  
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• Arts and entertainment sectors face ‘significant’ job losses unless furlough extended, government warned

  14-08-2020 22:21 via uk.finance.yahoo.com
  
  The arts and entertainment sectors face “significant” job losses unless the furlough scheme is extended, the government has been warned.Just 29 per cent of furloughed employees in arts and entertainment have gone back to work so far, according to research by the Royal Society for the Encouragement of Arts, Manufactures and Commerce (RSA).
  
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• Arts and entertainment sectors face 'significant' job losses unless furlough extended, government warned

  14-08-2020 22:21 via uk.finance.yahoo.com
  
  The arts and entertainment sectors face "significant" job losses unless the furlough scheme is extended, the government has been warned.Just 29 per cent of furloughed employees in arts and entertainment have gone back to work so far, according to research by the Royal Society for the Encouragement of Arts, Manufactures and Commerce (RSA).
  
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• UK bailout talks for Jaguar Land Rover and Tata Steel ended

  14-08-2020 22:00
  Parent does not qualify for Project Birch government aid, leaving carmaker and metals group to rely on private financing
  
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• UK bailout talks end for Jaguar Land Rover and Tata Steel

  14-08-2020 22:00
  Parent does not qualify for Project Birch government aid, leaving carmaker and metals group to rely on private financing
  
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• Cookies used by Amazon, Spotify and Reddit targeted by £9bn privacy lawsuit

  14-08-2020 21:55 via uk.finance.yahoo.com
  
  British privacy activists are mounting a mammoth lawsuit accusing two American tech giants of systematically invading people's privacy using cookies embedded on popular websites such as Amazon, Spotify, Ikea and Reddit. The non-profit Privacy Collective will file a class action lawsuit against Oracle and Salesforce, two prolific business software companies, in England's High Court later this year, alleging that they shared users' data with other companies without proper consent. Together with a
  
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• Spain deplores continued U.S. tariffs on EU goods - minister

  14-08-2020 21:31 via uk.finance.yahoo.com
  
  Spain is pleased the United States decided not to increase tariffs on European Union goods, Foreign Minister Arancha Gonzalez Laya said on Friday, but sharply criticised the fact any tariffs remained in force."We deplore the fact that there are still tariffs on Spanish products," Gonzalez Laya told Reuters in an interview two days after Washington said it would keep 15% tariffs on Airbusaircraft and 25% tariffs on other European goods despite moves to resolve a dispute over aircraft subsidies.As
  
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• Facebook critiques Apple on its commission system

  14-08-2020 21:29 via uk.finance.yahoo.com
  
  Facebook said it requested an exemption so small businesses would not have to pay Apple's cut for paid online events on the social network's platform.Apple did not immediately respond to a request for comment.Facebook's comments come a day after Apple removed popular video game "Fortnite" from its app store for violating the in-app payment guidelines, prompting developer Epic Games to file federal antitrust lawsuit challenging Apple's rules.
  
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• Facebook bashes Apple for refusing to waive commission fees, seizing on backlash

  14-08-2020 21:29 via uk.finance.yahoo.com
  
  Facebook said it requested the waiver so that small businesses would not have to pay Apple's cut for a new paid online events product the world's biggest social media company is launching on its core platform.Apple did not immediately respond to a request for comment.On Thursday, Apple removed popular video game "Fortnite" from its app store for violating its in-app payment guidelines, sparking a backlash online and prompting developer Epic Games to file a federal antitrust lawsuit challenging A
  
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• Scotland and Wales overruled London on quarantine deadline

  14-08-2020 21:24
  Travel restrictions were brought forward by 24 hours after pressure from devolved nations
  
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• Solihull clothing brand Gymshark becomes latest £1bn start-up

  14-08-2020 21:06 via uk.finance.yahoo.com
  
  Ben Francis will become one of the UK's wealthiest young entrepreneurs after securing a major investment deal.
  
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• John Lewis ‘failed to make most’ of central Birmingham store, says mayor

  14-08-2020 21:03 via uk.finance.yahoo.com
  
  The Birmingham Grand Central store is one of eight which the retail giant has now announced will never reopen.
  
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• Entrepreneur behind Gymshark worth £700m after blockbuster deal

  14-08-2020 20:17 via uk.finance.yahoo.com
  
  A 28-year-old university dropout is now worth more than £700m after a blockbuster deal for his sportswear brand Gymshark. Ben Francis sold a 21pc stake in the company to US private equity firm General Atlantic in a deal which values it at more than £1bn. Mr Francis co-founded the fitness clothing brand in his garage with an old school friend in 2012 and grew it through a cult following on social media. The entrepreneur - who used to work as a Pizza Hut delivery driver and dropped out
  
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• Businesses ‘delighted’ to welcome back customers in latest lockdown easing

  14-08-2020 19:59 via uk.finance.yahoo.com
  
  Theatres, casinos and bowling alleys will be allowed to reopen from this weekend in England.
  
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• Coronavirus survey shows no surge in England-wide infections

  14-08-2020 19:55
  But scientists warn Covid-19 cases could rise rapidly as parts of economy prepare to ease restrictions further
  
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• Can U.S. retail sector's 'V-shaped' rebound jump the fiscal cliff?

  14-08-2020 19:53 via uk.finance.yahoo.com
  
  The downside: It was government money they spent, and that is now drying up even as a recent spate of unexpectedly upbeat economic data - including a larger-than-expected rise in payrolls last month and the first drop below 1 million in weekly new jobless claims since March - takes the pressure off Congress to renew the unemployment benefit supplement and business loan programs that ended last month.Is the economy on its way back as consumers and businesses learn to live with new health risks, o
  
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• New rules 'put future of soft play centres in England at risk'

  14-08-2020 19:29 via uk.finance.yahoo.com
  
  New rules 'put future of soft play centres in England at risk'. As sector prepares to reopen, industry insiders warn that many may not survive
  
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• Former John Lewis boss Andy Street hits out as Birmingham store shuts

  14-08-2020 19:26 via uk.finance.yahoo.com
  
  West Midlands mayor and former John Lewis boss Andy Street launched a stinging attack on his old employer after it confirmed the closure of its vast Birmingham store. Mr Street said the company could have found a way to keep the sprawling 250,000 sq ft site at New Street station open but refused to consider options. The Conservative mayor spoke out as John Lewis shut eight stores forever, including the £35m Birmingham site which it opened to great fanfare just five years ago. Mr Street was
  
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• Jigsaw says it could shutter up to 20 stores after footfall dives

  14-08-2020 19:19 via uk.finance.yahoo.com
  
  The high street fashion retailer said it has accelerated plans to shake-up its operations after being impacted by the virus.
  
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• Student loan interest rate in England and Wales to rise in September

  14-08-2020 18:59 via uk.finance.yahoo.com
  
  Student loan interest rate in England and Wales to rise in SeptemberMove comes as as thousands of school leavers seek university places in clearing* Universities brace for the biggest ever clearing day
  
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• Tensions rise over eviction ban cut-off as landlords prepare court proceedings

  14-08-2020 18:53 via uk.finance.yahoo.com
  
  Tensions are rising between landlords and renters as both sides brace for a ban on evictions to come to an end. Rules established at the start of the coronavirus crisis blocked any eviction cases from being heard in court before August 24 to protect tenants who suffered financial hardship due to the pandemic. Tenants’ groups are now calling on the government to extend the ban - warning that struggling renters who face eviction are terrified they could end up homeless. Meanwhile landlords a
  
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• £5,000 to invest? I think these 3 UK shares still seem to be bargains

  14-08-2020 18:50 via uk.finance.yahoo.com
  
  Anna Sokolidou discusses three UK shares she thinks long-term investors should consider.The post £5,000 to invest? I think these 3 UK shares still seem to be bargains appeared first on The Motley Fool UK.
  
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• Many UK companies delay investing workers’ pension contributions

  14-08-2020 18:39
  Spike in employers missing payment deadlines could mean savers missing out on returns in retirement pot
  
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• Many UK companies delay investing worker pension contributions

  14-08-2020 18:39
  Spike in employers missing payment deadlines during pandemic could mean savers missing retirement returns
  
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• London markets dive after France quarantine hits travel firms

  14-08-2020 18:39 via uk.finance.yahoo.com
  
  London's top flight closed 95.58 points lower at 6,090.04 at the end of trading on Friday.
  
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• Lights up again for England’s struggling theatres

  14-08-2020 18:39
  Reopening of arts venues to go ahead from Saturday amid fears of irreparable damage
  
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• Exclusive: U.S.-China trade deal review postponed as China ramps up farm, energy purchases

  14-08-2020 18:23 via uk.finance.yahoo.com
  
  The United States and China have delayed a review of their Phase 1 trade deal initially slated for Saturday, sources familiar with the plans told Reuters, citing scheduling conflicts and the need to allow time for more Chinese purchases of U.S. exports.No new date for the initial six-month compliance review between U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He has been agreed, the sources said.The officials were expected to ho
  
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• Exclusive: U.S.-China trade deal review planned for Saturday postponed - sources

  14-08-2020 18:23 via uk.finance.yahoo.com
  
  A review of the U.S.-China trade deal initially slated for Saturday will be delayed due to scheduling issues and no new date has been agreed, according to sources familiar with the plans.U.S. Trade Representative Robert Lighthizer, U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He had been expected to meet via videoconference on Aug. 15, the six-month anniversary of agreement's taking effect.One source familiar with the talks said the delay stemmed from continued meetings of
  
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• UK holidaymakers scramble to leave France before quarantine

  14-08-2020 18:19
  Rush to snap up few remaining air, train and ferry tickets to cross Channel before 4am on Saturday
  
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• YO! Sushi could axe hundreds of jobs and shut 19 restaurants as coronavirus bites

  14-08-2020 18:13 via uk.finance.yahoo.com
  
  Britain’s restaurant industry has been hit hard by the pandemic.
  
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• Grieving husband commissions famous toy maker to create life-sized statue of his late wife

  14-08-2020 18:08 via ibtimes.co.uk
  
  Husband immortalises dead wife and builds her dream bungalow for her statue to live in
  
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• Coronavirus: Yo! Sushi to shut restaurants and cut 250 jobs

  14-08-2020 18:06 via bbc.co.uk
  
  The company, known for its conveyor belt service, has launched a company voluntary arrangement.
  
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• Vaccine makers including Moderna must hit U.S. timing goals for full payments

  14-08-2020 18:04 via uk.finance.yahoo.com
  
  The United States is tying payments for COVID-19 vaccines to timing milestones for production and approval, according to public documents and a Trump administration official, putting pressure on drugmakers including Moderna Incto meet ambitious targets.In a deal with Moderna announced this week, federal agencies negotiated a sliding scale of payments.The Cambridge, Massachusetts, biotech's $1.5-billion (1.1 billion pounds) deal pays out in full if its vaccine receives regulatory clearance by Jan
  
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• How much a degree qualification could add to your earnings

  14-08-2020 18:00 via uk.finance.yahoo.com
  
  UK graduates earn nearly a quarter more than non-graduates over their lifetime.
  
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• Why the UK has a standout economy

  14-08-2020 17:55
  The virus hits services particularly hard, but ambitious state investment can save the day
  
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• Why the UK economy stands out

  14-08-2020 17:55
  The virus hits services particularly hard, but ambitious state investment can save the day
  
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• Sushi chain Yo! to cut up to 250 jobs and shut 19 restaurants

  14-08-2020 17:44 via uk.finance.yahoo.com
  
  It said that sites earmarked for closure are 'no longer financially viable' and have unsustainable rental costs in the current trading environment.
  
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• YO! Sushi restaurant closures: A full list of UK restaurants closing across the country

  14-08-2020 17:43 via uk.finance.yahoo.com
  
  The popular YO! Sushi chain has announced restaurant closures today, most of which are in London.Here is the full list:
  
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• British tourist dies after 500-ft fall from cliff in Ibiza

  14-08-2020 17:42 via ibtimes.co.uk
  
  The body of the Liverpool man was recovered the morning after he fell from the cliff.
  
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• Airbnb to clamp down on UK bookings for under-25s

  14-08-2020 17:39 via uk.finance.yahoo.com
  
  The trial scheme will stop guests under the age of 25 with fewer than three positive reviews from booking entire homes near their place of residence.
  
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• Gymshark: Ex-pizza delivery boy’s sportswear firm worth over £1bn

  14-08-2020 17:20 via bbc.co.uk
  
  Ben Francis, the founder of sportswear company Gymshark, is now worth an estimated £700m.
  
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• Sushi chain Yo! to shut 19 restaurants and cut 250 jobs

  14-08-2020 17:14 via uk.finance.yahoo.com
  
  Sushi chain Yo! is to shut 19 of its sites and cut up to 250 jobs in a bid to protect its long-term future.The restaurant chain, which has 59 restaurants and 10 concessions across the UK, announced the cuts as part of a Company Voluntary Arrangement (CVA) restructuring process.
  
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• Banker bonus cap can reduce excessive risk-taking, says BoE paper

  14-08-2020 17:09 via uk.finance.yahoo.com
  
  The European Union's cap on banker bonuses introduced after the financial crisis a decade ago can help to curb excessive risk-taking, a Bank of England study showed on Friday.Under the rule, a bonus can be no more than 100% of a banker's fixed pay, or double that amount with shareholder approval.The deferred non-cash portion of a bonus can also be clawed back if any misconduct emerges.
  
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• Army veteran faces trial for murder of adult entertainer wife using absinthe bottle

  14-08-2020 17:05 via ibtimes.co.uk
  
  The accused will appear in court on September 14 this year to be tried for the murder of his wife in 2018.
  
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• Public warned over investment scams using fake celebrity endorsements

  14-08-2020 16:57 via uk.finance.yahoo.com
  
  Spoof articles contain investment “endorsements” from the likes of Ed Sheeran, Richard Branson and The Money Expert’s Martin Lewis.
  
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• John Lewis confirms eight store closures including Birmingham flagship

  14-08-2020 16:56 via uk.finance.yahoo.com
  
  John Lewis today confirmed all eight retail sites announced in July as at-risk of closure will now never reopen.The closures include John Lewis’s Grand Central department store in the heart of Birmingham, which has been closed since lockdown.
  
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• Parents arrested after cops find body of 3-week-old baby inside bucket of tar

  14-08-2020 16:51 via ibtimes.co.uk
  
  North Texas police are still conducting an autopsy to determine the baby's cause of death as parents claim their baby boy died of SIDS
  
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