Business news

• Facebook agrees to pay France £94 million in back taxes

  24-08-2020 21:44 via uk.finance.yahoo.com
  
  Facebook has agreed to pay the French government €106 million (£94 million) in back taxes and penalties.The agreement comes after tax authorities carried out an extensive audit of a decade of the social media giant's operations in the country, from 2009-2018, a company spokesperson said.
  
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• If the government is serious about levelling up, it needs to protect BT

  24-08-2020 20:55 via uk.finance.yahoo.com
  
  If the government is serious about levelling up, it needs to protect BTAny approach by the leveraged buyout brigade could be a death knell for fast-fibre broadband rollout
  
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• Tesla, automakers urge FTC to seek appeal after defeat in Qualcomm case

  24-08-2020 20:54 via uk.finance.yahoo.com
  
  Earlier this month a U.S. appeals court reversed a lower-court decision against Qualcomm, which makes technology for connecting devices to mobile data networks.The court also vacated an injunction that would have required Qualcomm to change its patent licensing practices.
  
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• Zoom apologises after partial global outage

  24-08-2020 20:20 via uk.finance.yahoo.com
  
  Zoom apologises after partial global outageFirm behind video-conferencing app says it has now fixed the problem, which mainly affected users in the east coast of the US and Europe
  
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• Zoom apologises after being hit by partial global outage

  24-08-2020 20:20 via uk.finance.yahoo.com
  
  Zoom apologises after being hit by partial global outageFirm behind video-conferencing app says it is working hard to fix the problem
  
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• Topshop owner accused of potential legal breach over redundancy terms

  24-08-2020 20:05 via uk.finance.yahoo.com
  
  Topshop owner accused of potential legal breach over redundancy termsArcadia Group proposing to base some workers’ notice pay on their furlough earnings instead of their full salary
  
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• John Lewis steals a march by opening Christmas shop early

  24-08-2020 19:52 via uk.finance.yahoo.com
  
  John Lewis steals a march by opening Christmas shop earlySurge in demand prompts chain to start online sales 10 days earlier than last year
  
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• After Covid, there's no getting excited about budget predictions

  24-08-2020 19:30 via uk.finance.yahoo.com
  
  After Covid, there's no getting excited about budget predictionsAustralia’s focus should be on the long recovery ahead rather than numbers that mean little for the real economy* NSW cases map; Covid restrictions state by state* Full Australian stats interactive* Sign up for Guardian Australia’s coronavirus email* Download the free Guardian app for the most important news notifications
  
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• Norway's wealth fund chief gives up hedge fund stake to keep job

  24-08-2020 19:16 via uk.finance.yahoo.com
  
  The businessman appointed by Norway's central bank to run the country's $1.1 trillion (841.7 billion pounds) wealth fund will transfer his stake in a hedge fund to a charitable foundation and restructure his other investments in a bid to keep his job.The move, announced by Norges Bank and new fund CEO Nicolai Tangen on Monday, was immediately backed by the finance ministry and could defuse a crisis that has threatened to unseat both Tangen and central bank Governor Oeystein Olsen.
  
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• TikTok calls Trump ban ‘political’ in lawsuit

  24-08-2020 19:11 via bbc.co.uk
  
  President Donald Trump ordered Americans to stop doing business with the popular Chinese video app.
  
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• Tesco's 16,000 jobs drive to reward lockdown temps

  24-08-2020 19:09 via bbc.co.uk
  
  The supermarket will bolster its online business with permanent hires following "exceptional growth".
  
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• Investing in jobs and climate is key

  24-08-2020 19:01 via uk.finance.yahoo.com
  
  Investing in jobs and climate is keyRichard Murphy and Colin Hines stress the importance of the government spending money on creating jobs as well as on infrastructure to deal with the impact of coronavirus on people and the planet
  
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• Father and 2 kids plunge to their deaths after car skids off the road and falls into Lough Foyle

  24-08-2020 18:51 via ibtimes.co.uk
  
  A resident who was part of the rescue team did not even realise the bodies he was pulling out of the crash were his neighbors.
  
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• PwC slams door on miner Petropavlovsk over governance concerns

  24-08-2020 18:45 via uk.finance.yahoo.com
  
  The future of embattled gold mining group Petropavlovsk was once again thrown in to doubt on Monday when auditor PwC firmly rejected the chance to work with the company following a major boardroom coup this summer. At the end of July, PwC refused to audit the company pending a general meeting intended to provide clarity on board positions. Now, the company has confirmed its decision to cut ties with Petropavlovsk, citing the "recent significant changes in the composition of the Board of Director
  
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• Facebook agrees to pay France €106m in back taxes

  24-08-2020 18:37 via bbc.co.uk
  
  The social networking giant has also agreed to pay France 50% more tax for 2020.
  
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• UK’s ‘inefficient’ homes exacerbate zero-carbon challenge

  24-08-2020 18:29
  Policy failings have made Britain’s housing stock a significant contributor to CO2 emissions
  
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• UK’s big zero-carbon target challenge begins at home

  24-08-2020 18:29
  Policy failings have left Britain’s housing stock among most inefficient in Europe, producing a fifth of CO2 emissions
  
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• EssiLux loses Dutch court case against takeover target GrandVision

  24-08-2020 18:25 via uk.finance.yahoo.com
  
  EssilorLuxottica on Monday lost a Dutch court case in which the eyewear maker was seeking to obtain more information from acquisition target GrandVision about its management of the coronavirus crisis.The French-Italian maker of Ray-Ban had told a court hearing earlier this month that GrandVision's decisions to suspend payments to store owners and suppliers and to apply for state aid could give grounds for ending its proposed 7.2 billion euro ($8.5 billion) takeover.At the hearing, GrandVision sa
  
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• Markets jump on reports Donald Trump to fast-track Covid-19 vaccine

  24-08-2020 18:20 via uk.finance.yahoo.com
  
  London’s top flight closed 102.84 points lower at 6,104.73 at the end of trading on Monday.
  
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• TikTok sues Trump administration claiming US ban is 'gross misappropriation' of the law

  24-08-2020 18:04 via uk.finance.yahoo.com
  
  TikTok has sued the US government to block Donald Trump’s order banning the popular video app if it fails to find an American buyer by September 15. “We strongly disagree with the Administration's position that TikTok is a national security threat and we have articulated these objections previously,” the company said as it filed the suit in a federal court in California on Monday. TikTok is asking a judge to throw out the order, signed by Mr Trump on August 6, which said TikTok
  
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• TikTok suing Trump administration over executive order

  24-08-2020 18:03 via uk.finance.yahoo.com
  
  TikTok suing Trump administration over executive orderApp says in blogpost it strongly disagrees with White House position that it is a national security threat
  
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• Why Tesco joined the online grocers gold rush

  24-08-2020 18:00 via uk.finance.yahoo.com
  
  The rush of orders for online grocery deliveries during lockdown threatened to overwhelm even the country’s largest and best-prepared supermarkets. Ocado, which presents itself as a high-tech digital supermarket, even had to stop accepting online orders from new customers at the height of lockdown panic-buying. The rapid change in customer behaviour caused by lockdown has convinced many supermarkets to speed up their plans to embrace online grocery deliveries. On Monday, Tesco announced th
  
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• Buffett indicator suggests a stock market crash is coming! This is what I’d do now

  24-08-2020 17:59 via uk.finance.yahoo.com
  
  The Buffett indicator hints at an imminent stock market crash. Here's what Anna Sokolidou would do in this situation. The post Buffett indicator suggests a stock market crash is coming! This is what I'd do now appeared first on The Motley Fool UK.
  
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• Amigo founder denies plot to launch a rival lender

  24-08-2020 17:56 via uk.finance.yahoo.com
  
  The founder of Amigo has quashed speculation that he could launch a competitor to take on the troubled high-interest lender if he fails to secure a third spell on its board. James Benamor has demanded to be installed as chief executive as he seeks a comeback after resigning as a director for a second time in March. Mr Benamor will call a shareholder vote on Thursday if his proposals are not met, but insisted he will not compete with the business which he set up 15 years ago should this gambit fa
  
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• Virgin Atlantic offers free COVID insurance to battle booking crisis

  24-08-2020 17:51 via uk.finance.yahoo.com
  
  The airline said that it would introduce a sweeping insurance policy for all new and existing flight bookings.
  
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• Coronavirus: M&S trials drive-through collection

  24-08-2020 17:49 via uk.finance.yahoo.com
  
  The move is part of the retail giant’s efforts to 'turbocharge' growth through its website in response to the skyrocketing popularity of online shopping in response to the coronavirus pandemic.
  
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• Rare meteorite shows early building blocks of life – but molecules within provoke new questions

  24-08-2020 17:40 via uk.finance.yahoo.com
  
  A small rock found by researchers in Antarctica could answer questions about the beginnings of life on earth, Nasa scientists believe.The tiny object, found in 2012 by Belgian and Japanese scientists, was a meteorite now called Asuka 12236.
  
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• The UK Conservative case for action on the environment 

  24-08-2020 17:36
  Protecting citizens from the insecurities of climate change is as Tory as it gets
  
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• Man arrested on suspicion of stealing 40 puppies

  24-08-2020 17:35 via ibtimes.co.uk
  
  The puppies have been handed over to the RSPCA after being rescued from a van being driven by the suspect.
  
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• Workers in UK are the most reluctant to return to the office

  24-08-2020 17:32 via uk.finance.yahoo.com
  
  Workers in the UK are the most reluctant to return to the office, a new report has found. A survey of 8,000 adults from eight countries saw British employees display the highest level of apathy towards returning to the workplace, alongside the US. Their reluctance to go back to the office is largely driven by fears of a second wave, rather than enjoyment of the home-working lifestyle, the analysis by ManpowerGroup suggests. It is thought that the divergence in attitude in the UK and US, compared
  
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• Williamson says it is the 'right time' for school return

  24-08-2020 17:31 via uk.finance.yahoo.com
  
  Education Secretary Gavin Williamson has said it is the "right time" for children to go back to school as there is more harm done to them by not being there.
  
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• The Tesco share price is down 10% in 2020. Here’s why it’s a buy for me

  24-08-2020 17:29 via uk.finance.yahoo.com
  
  As the 2020 stock market slump continues, online sales are booming, and I'm becoming more and more bullish about the Tesco share price.The post The Tesco share price is down 10% in 2020. Here's why it's a buy for me appeared first on The Motley Fool UK.
  
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• TikTok sues Trump over threatened U.S. ban, calling it an election ploy

  24-08-2020 17:15 via uk.finance.yahoo.com
  
  TikTok and its parent ByteDance Ltd rejected what they called the White House's position that it was a national security threat, saying they had taken "extraordinary measures to protect the privacy and security of TikTok's U.S. user data.""We do not take suing the government lightly," TikTok said in a blog post.
  
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• TikTok sues Trump administration over U.S. ban, calls it an election ploy

  24-08-2020 17:15 via uk.finance.yahoo.com
  
  TikTok and its parent ByteDance Ltd rejected what they called the White House's position that it was a national security threat, saying they had taken "extraordinary measures to protect the privacy and security of TikTok's U.S. user data.""We do not take suing the government lightly," TikTok said in a blog post.
  
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• TikTok says it has 'no choice' but to sue Trump administration over threatened U.S. ban

  24-08-2020 17:15 via uk.finance.yahoo.com
  
  In a blog post, TikTok said it strongly disagreed with the White House's position that the company was a national security threat, saying it had "taken extraordinary measures to protect the privacy and security of TikTok’s U.S. user data."It also said the administration has ignored its "extensive efforts" to address its concerns, and accused Trump of politicizing the dispute by calling for a ban on TikTok in an Aug. 6 executive order.
  
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• TikTok, saying it had 'no choice,' sues Trump over threatened U.S. ban

  24-08-2020 17:15 via uk.finance.yahoo.com
  
  In a blog post, TikTok said it strongly disagreed with the White House's position that the company was a national security threat, saying it had "taken extraordinary measures to protect the privacy and security of TikTok’s U.S. user data."It also said the administration has ignored its "extensive efforts" to address its concerns, and accused Trump of politicizing the dispute by calling for a ban on TikTok in an Aug. 6 executive order.
  
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• UK denies it plans to drop tax on digital giants

  24-08-2020 17:09 via uk.finance.yahoo.com
  
  Britain's finance ministry denied a report that it planned to drop a tax on technology companies such as Facebook and Google.Britain introduced the digital services tax in April after slow progress in global negotiations over how to tax tech giants, many of which are U.S. companies.The Mail on Sunday newspaper reported that finance minister Rishi Sunak planned to drop the tax because it does not raise much money - around 500 million pounds ($654 million) a year - and could hurt a push for a U.S.
  
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• British teen dies after being hit by speedboat while snorkelling in Tahiti

  24-08-2020 17:09 via ibtimes.co.uk
  
  The family was on a trip around the world when the tragic incident occurred earlier this month.
  
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• Questor: it felt like a gamble when we tipped Gamesys but a maiden divi suggests it has paid off

  24-08-2020 16:59 via uk.finance.yahoo.com
  
  The good things come to those who wait. Better-than-expected interim results earlier this month, strong cash flow and – best of all – a maiden dividend all suggest that the investment case for Gamesys, the online gaming operator, is coming together nicely and that there could be further gains to come. This column must admit that it first assessed the firm in October 2017 with a degree of trepidation, thanks to its debt pile, a name change (to JackpotJoy from Intertain), a shift in st
  
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• Fortnite and Apple fallout could cause problems for other games such as Forza, Microsoft says

  24-08-2020 16:51 via uk.finance.yahoo.com
  
  Other games could suffer as a result of the fallout between Apple and the developer of Fortnite, Microsoft has said.The Xbox maker has thrown its backing behind Epic Games, which makes Fortnite, as it continues to publicly fight with Apple over its App Store rules.
  
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• Lumber prices hit record high after lockdown spurs DIY boom

  24-08-2020 16:48 via uk.finance.yahoo.com
  
  Gold prices may be glittering at close to record highs - but a less eye-catching asset is still outshining the precious metal. This year's best performing commodity is instead the humble wooden log, after the value of lumber surged amid a DIY boom triggered by homeowners sprucing up their properties during lockdown. The price of lumber futures has more than doubled in 2020 due to buoyant demand and low stock levels, made worse by mill shutdowns during the height of the Covid crisis. Surging cost
  
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• Footfall improves across UK retail destinations

  24-08-2020 16:37 via uk.finance.yahoo.com
  
  Footfall in UK retail destinations improved 4.1% last week according to new data that offers some encouraging signs for retailers.Data firm Springboard said footfall across all retail destinations throughout the UK rose by 4.1% last week from the week before, a significant acceleration in the rise in the previous week of 0.8% and 1.8% in the same week in 2019.
  
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• Virgin Atlantic launches free Covid-19 insurance cover for customers

  24-08-2020 16:36 via uk.finance.yahoo.com
  
  All existing and new bookings for travel until March 31 next year will have the cover automatically applied.
  
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• Retail Trader Explosion In A COVID-19 World: Is This A Sustainable Trend Shift?

  24-08-2020 16:12 via ibtimes.co.uk
  
  The COVID-19 pandemic has seen many new trends established that few could have predicted, plus some more obvious shifts.
  
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• Tesco announces 16,000 new permanent roles as online sales boom

  24-08-2020 16:11 via uk.finance.yahoo.com
  
  Tesco will create 16,000 new permanent roles, in addition to 4,000 jobs already created since the pandemic began, to support “exceptional growth” in its online business.The supermarket chain said on Friday the new roles include 10,000 pickers who will assemble customer orders and 3,000 delivery drivers. Other roles will be created in stores and distribution centres.
  
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• UK investors get a slice of Tesla when they buy this FTSE 100 stock

  24-08-2020 16:10 via uk.finance.yahoo.com
  
  FTSE 100 listed Scottish Mortgage Investment Trust shares give UK investors the chance to invest in Tesla and other exciting growth stocks with minimal fuss.The post UK investors get a slice of Tesla when they buy this FTSE 100 stock appeared first on The Motley Fool UK.
  
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• Zoom's U.S. users hit by partial outage, some service restored

  24-08-2020 16:09 via uk.finance.yahoo.com
  
  The company said earlier it had "identified the issue causing users to be unable to authenticate to the Zoom website (zoom.us) and unable to start and join Zoom Meetings and Webinars."Zoom's stock has risen more than eight-fold since its initial public offering last year and four-fold so far in 2020, but it fell as much as 5.4% in early Monday.Zoom competes with Cisco Systems Inc's Webex, Microsoft Corp's Teams and Alphabet Inc'sGoogle Meet platform for paying customers, particularly enterprises
  
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• Zoom working to fix partial outage at video conferencing service

  24-08-2020 16:09 via uk.finance.yahoo.com
  
  "We have identified the issue causing users to be unable to authenticate to the Zoom website (zoom.us) and unable to start and join Zoom Meetings and Webinars," the company said on its website.Shares of the video conferencing app were down about 1.5% in early trade on Monday.The use of Zoom and other digital communications have soared with political parties, school districts, organizations and millions across the world working from home after lockdowns were enforced to slow the spread of the cor
  
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• Zoom U.S. users hit by partial outage

  24-08-2020 16:09 via uk.finance.yahoo.com
  
  "We have identified the issue causing users to be unable to authenticate to the Zoom website (zoom.us) and unable to start and join Zoom Meetings and Webinars," the company said on its website.Shares of the video conferencing app fell as much as 3.3% in early trade on Monday.
  
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• Zoom says service restored after U.S. users hit by partial outage

  24-08-2020 16:09 via uk.finance.yahoo.com
  
  Many schools that turned to remote instruction have used Zoom for classes.Outage tracking website Downdetector.com showed nearly 17,000 incidents of people reporting issues with Zoom earlier in the day.Zoom's stock has risen more than eight-fold since its initial public offering last year and four-fold so far in 2020, but it was down 2.9% after falling as much as 5.4% in earlier Monday.
  
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