Business news

• German coalition agrees to extend coronavirus relief for economy

  25-08-2020 23:51 via uk.finance.yahoo.com
  
  German coalition parties agreed on Tuesday to extend measures to cushion the effects of the coronavirus crisis on Europe's biggest economy, including prolonging a short-time work scheme and a freeze on insolvency rules."Corona remains a reality and a challenge," said Annegret Kramp-Karrenbauer, leader of the conservative Christian Democrats (CDU) after around seven hours of talks with their centre-left Social Democrat (SPD) coalition partners.
  
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• German coalition agrees 10 billion euro extension of coronavirus relief

  25-08-2020 23:51 via uk.finance.yahoo.com
  
  German coalition parties agreed on Tuesday to extend measures to cushion the effects of the coronavirus crisis on Europe's biggest economy at a cost of up to 10 billion euros, including prolonging a short-time work scheme and freezing insolvency rules."Corona remains a reality and a challenge," said Annegret Kramp-Karrenbauer, leader of the conservative Christian Democrats (CDU) after around seven hours of talks with their centre-left Social Democrat (SPD) coalition partners.Finance Minister Ola
  
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• GM, Ford coronavirus U.S. ventilator projects close in on their finish lines

  25-08-2020 22:40 via uk.finance.yahoo.com
  
  General Motors Coand Ford Motor Cosaid on Tuesday they are close to completing production of ventilators ordered by the Trump Administration this spring in response to the surge in coronavirus cases, and are ramping down or exiting the operations.Many of the ventilators assembled by the automakers and other manufacturers have gone into a U.S. government stockpile as doctors shifted away from using invasive ventilators with COVID-19 patients.The government currently has 108,000 ventilators in its
  
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• U.S. charges Teva in generic drugs price-fixing probe

  25-08-2020 22:22 via uk.finance.yahoo.com
  
  The decision follows Teva's refusal to agree to a settlement that would have required paying a criminal penalty and admitting wrongdoing, according to a person familiar with the matter.The Justice Department has been investigating allegations the company colluded with other drugmakers to push up the prices of widely used pharmaceuticals, including a high cholesterol drug."Today's charge reaffirms that no company is too big to be prosecuted for its role in conspiracies that led to substantially h
  
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• Canada court blocks release of more documents to Huawei's Meng Wanzhou

  25-08-2020 22:11 via uk.finance.yahoo.com
  
  Meng, 48, was arrested in December 2018 at Vancouver International Airport on a warrant from the United States, charging her with bank fraud for allegedly misleading HSBCabout Huawei's business dealings in Iran.Although Canada released some documents requested by Meng and her team, lawyers for the Canadian attorney general declined to release all of the documents, claiming that some would threaten national security if disclosed.A federal judge agreed with the Canadian government's lawyers, deemi
  
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• Shell to continue Deer Park, Texas, refinery operation despite storm risk -sources

  25-08-2020 21:55 via uk.finance.yahoo.com
  
  Royal Dutch Shell Plcplans to keep its 318,000-barrel-per-day (bpd) joint-venture Deer Park, Texas, refinery in operation despite possible risk from Hurricane Laura, sources familiar with plant operations said on Tuesday.Shell, the managing partner of the joint-venture refinery with Pemex, plans to again review forecasts for the storm and its possible impact on the refinery located along the Houston Ship Channel, the sources said.Shell spokesman Curtis Smith said the company is monitoring the st
  
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• Wheelchair-user's interview 'cancelled as office is not accessible'

  25-08-2020 21:54 via uk.finance.yahoo.com
  
  A trainee barrister claims she had her job interview cancelled after the law firm found out she used a wheelchair and claimed the building was not accessible.Holly Girven, 23, from North Lincolnshire, applied for a litigation paralegal job in Sheffield on a recruitment website, which provides legal services for BT.
  
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• Storm Francis brings wind and heavy rain to South Wales

  25-08-2020 20:03 via uk.finance.yahoo.com
  
  Storm Francis has brought high winds and heavy rain to Porthcawl in South Wales.
  
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• Harry Dunn's parents speak a year after his death

  25-08-2020 19:52 via uk.finance.yahoo.com
  
  A year after the tragic death of Harry Dunn, his parents Tim Dunn and Charlotte Charles spoke to ITV News about the loss of their much-loved son. As the interview took place the couple were told by their advisor that the Attorney General Robert Buckland is now considering a 'virtual' trial as an option.
  
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• Eat Out discount used 64m times in three weeks

  25-08-2020 19:51 via bbc.co.uk
  
  The Treasury says its scheme, which gives diners 50% off in August, is helping to protect 1.8m jobs.
  
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• Hundreds of astronomers warn Elon Musk's Starlink satellites could limit scientific discoveries

  25-08-2020 19:47 via uk.finance.yahoo.com
  
  Hundreds of astronomers have warned that satellite constellations like Elon Musk‘s Starlink network could prove “extremely impactful” to astronomy and scientific progress.A report by the Satellite Constellations 1 (Satcon1) workshop found that that constellations of bright satellites will fundamentally change ground-based optical and infrared astronomy and could impact the appearance of the night’s sky for stargazers around the world.
  
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• Arm reverses plan to spin off internet of things division

  25-08-2020 19:34 via uk.finance.yahoo.com
  
  The British microchip company Arm has reversed a decision to spin off two divisions to its Japanese owners, a move that could complicate a rumoured sale of the company. Cambridge-headquartered Arm announced last month that it planned to transfer its loss-making “internet of things” businesses to SoftBank, amid discussions over a potential sale or float of the business. The spin-offs were seen as a “tidying up” of Arm, focusing on its most valuable chip architecture licens
  
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• Samsung Galaxy Note 20 ultra 5G review: We put the latest launch to the test

  25-08-2020 19:27 via uk.finance.yahoo.com
  
  Samsung Galaxy Note 20 Ultra 5G - Buy now Screen size and resolution: 6.9in, 1440 x 3088 pixels, 496 pixels per inchScreen technology: OLEDStorage capacity: 128/256/512GBExpandable storage? YesCamera (rear): 108MP wide, 12MP telephoto, 12MP ultra-wideCamera (front): 10MPDimensions: 164.8 x 77.2 x 8.1mmWeight: 208gHeadphone jack? NoSamsung’s note smartphones have consistently boasted a large display and an integral stylus that is stored in the body of the phone. In this latest model, retail
  
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• Former judge hits out at watchdog over delays to savings collapse investigation

  25-08-2020 19:16 via uk.finance.yahoo.com
  
  A former appeals court judge has hit out at the City watchdog for "unacceptable" hold-ups after twice being forced to delay a report into one of Britain's biggest savings scandals. Dame Elizabeth Gloster criticised the Financial Conduct Authority (FCA) for delaying her work on the failure of notorious investment firm London Capital & Finance (LCF) with a late dump of 3,500 previously undisclosed documents. The retired judge has been tasked with examining the regulator's oversight of LCF, whi
  
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• British pension savers lose £31 million to scams since 2017 - regulators

  25-08-2020 19:08 via uk.finance.yahoo.com
  
  British savers have lost 31 million pounds to pension scams since 2017 according to official data but the actual figures are likely to be much higher, British watchdogs said on Tuesday.Individual losses from pension scams reported to the Action Fraud national reporting centre ranged from less than 1,000 pounds to 500,000 pounds, and the average victim was male and aged in their 50s, the Financial Conduct Authority and The Pensions Regulator said.The figures are likely to be under-stated because
  
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• UK pensioners lose £30m to scammers

  25-08-2020 19:00 via uk.finance.yahoo.com
  Pension pots of all sizes have been victims of scams, with reported losses ranging from under £1,000 to as much as £500,000.
  
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• More than £30m lost to pension fraud since 2017

  25-08-2020 19:00 via bbc.co.uk
  
  Men in their 50s are the most likely targets of criminals, with losses totalling millions of pounds.
  
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• U.S. consumer confidence at six-year low; underscores concerns about economic recovery

  25-08-2020 18:55 via uk.finance.yahoo.com
  
  The second straight monthly decrease in consumer confidence reported by the Conference Board on Tuesday overshadowed an acceleration in new single-family home sales to a more than 13-1/2-year high in July.The housing market continues to show strong immunity to the coronavirus crisis.The ebb in confidence followed the expiration of a $600 weekly unemployment benefit supplement on July 31 and a flare-up in new coronavirus infections across the country, which forced some jurisdictions to shut down
  
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• U.S. consumer confidence at more than six-year low; new home sales accelerate

  25-08-2020 18:55 via uk.finance.yahoo.com
  
  The downbeat survey from the Conference Board on Tuesday overshadowed news that sales of new single-family homes raced to a more than 13-1/2-year high in July.The housing market continues to show strong immunity to the coronavirus crisis, though the second straight monthly decrease in consumer confidence could slow momentum.The ebb in confidence followed the expiration of a $600 weekly unemployment benefit supplement at the end of July and a flare-up in new coronavirus cases.
  
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• American Airlines to cut 19,000 jobs in October without aid, workforce shrinking 30%

  25-08-2020 18:50 via uk.finance.yahoo.com
  American Airlines said on Tuesday its workforce will shrink by 40,000, including 19,000 involuntary cuts, in October as the COVID-19 pandemic continues to weigh on air travel, unless the government extends aid for airline employee payrolls.Airlines received $25 billion in U.S. government stimulus funds in March meant to cover payrolls and protect jobs through September.American stock fell 4.4%, dragging down other airline shares.
  
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• Harry Dunn: Family 'hopeful' as attorney general considers virtual trial of alleged killer Anne Sacoolas

  25-08-2020 18:47 via uk.finance.yahoo.com
  
  Harry Dunn's family say they feel "hopeful" after learning the attorney general is considering a virtual trial for his alleged killer or trying her in her absence.
  
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• Sunak has zero appetite to extend ‘Eat Out to Help Out’ beyond August

  25-08-2020 18:41 via uk.finance.yahoo.com
  
  Almost 64m meals have been bought under Rishi Sunak's “Eat Out to Help Out” scheme as diners scramble for a discount before it ends later this month. The Chancellor's project has been wildly popular since it launched at the start of August, giving customers up to £10 off meals out from Monday to Wednesday. But the Telegraph understands that there is zero appetite within the Treasury to continue it into September - despite calls from industry bosses to have the scheme extended.
  
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• Devon shipyard’s new owners plan to expand after £7m rescue

  25-08-2020 18:37
  InfraStrata targets wider customer base for Appledore including offshore wind farms
  
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• Botswana govt says no guarantee on De Beers sales deal by end-2020

  25-08-2020 18:37 via uk.finance.yahoo.com
  
  The Botswana government said there was no guarantee that it would be able to renew a new 10-year sales agreement with De Beers before the end of December, when the current one expires, as the coronavirus pandemic has delayed negotiations."The ideal situation would be to end the talks by December but there are no guarantees that will happen," said Mmetla Masire, Permanent Secretary in the Ministry of Minerals told Reuters in an interview late on Monday.The deal is necessary for the Debswana Minin
  
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• Virgin Atlantic creditors vote in favour of £1.2bn Covid rescue deal

  25-08-2020 18:26 via uk.finance.yahoo.com
  
  Virgin Atlantic creditors vote in favour of £1.2bn Covid rescue dealAgreement designed to help airline survive another 18 months of travel turmoil* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Canada has effectively moved to block China's Huawei from 5G, but can't say so

  25-08-2020 18:26 via uk.finance.yahoo.com
  
  Canada is the only member of the Five Eyes intelligence-sharing network that has not formally blocked Huawei from 5G networks, but it has effectively done just that, delaying a decision long enough to force telecom companies to exclude the Chinese gear maker.The strategy allows Canada to keep on the right side of both China and the United States as they tussle over Huawei Technologies Co Ltd [HWT.UL], say six well-placed sources with direct knowledge of the matter.Canada and its Five Eyes allies
  
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• British-made swappable battery technology leads e-scooter launch

  25-08-2020 18:26 via uk.finance.yahoo.com
  
  Tier hopes to deploy the new model along with charging stations in cities across the UK later this year.
  
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• Virgin Atlantic flies closer to safety as American cuts 19,000 jobs

  25-08-2020 18:11 via uk.finance.yahoo.com
  Virgin Atlantic creditors have backed its £1.2bn rescue as transatlantic rival American Airlines raised the spectre of cutting 19,000 jobs as a result of coronavirus. Sir Richard Branson’s airline said securing support from creditors marks a “significant milestone” to shore up its finances that have been devastated by the pandemic. Under the plan, announced in July, some £400m will be injected into the airline - half coming from Sir Richard’s Virgin Group. Oth
  
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• Why I think this growth stock is a great opportunity

  25-08-2020 18:08 via uk.finance.yahoo.com
  
  Jabran Khan dives deeper into a telecoms and cloud architecture provider that he tips as a great growth stock opportunity.The post Why I think this growth stock is a great opportunity appeared first on The Motley Fool UK.
  
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• Boeing's first Starliner crewed mission tentatively slated for 2021

  25-08-2020 18:06 via uk.finance.yahoo.com
  
  Boeing Cosaid on Tuesday it aims to redo its unmanned Starliner crew capsule flight test to the International Space Station (ISS) in December or January, depending on when it completes software and test hardware production development.If the test mission is successful, Boeing and NASA will fly Starliner's first crewed mission in summer 2021, with a post-certification mission roughly scheduled for the following winter, the company added.Boeing is eager for another shot at proving its crew capsule
  
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• Time is up for tanks

  25-08-2020 18:05 via uk.finance.yahoo.com
  
  A predictable storm of outrage followed reports the forthcoming defence review could see the UK military’s fleet of 227 Challenger 2 main battle tanks and 388 Warrior armoured fighting vehicles mothballed. While no Defence Secretary wants to go down in history as the one who oversaw the British Army losing its heavy tanks, it’s almost inevitable that one will eventually do so. The physical presence of a 62-tonne Challenger may dominate the battlefield but in truth, questions about th
  
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• Honda to pay $85 million to settle U.S. states' probe over Takata air bags

  25-08-2020 18:03 via uk.finance.yahoo.com
  Honda Motor Co has agreed to pay $85 million (64.7 million pounds) to settle an investigation by most U.S. states into its use of defective Takata airbag inflators in its vehicles, according to a consent order made public on Tuesday.The state probes are connected with the ongoing recalls of tens of millions of vehicles equipped with potentially defective Takata inflators that were sold by Honda and other major auto manufacturers over the past 20 years.To date, more than 40 million U.S. vehicles
  
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• Honda to pay $84.2 million to settle U.S. states' probe over Takata air bags

  25-08-2020 18:03 via uk.finance.yahoo.com
  
  Honda Motor Co has agreed to pay $84.2 million (64 million pounds) to settle a probe by most U.S. states into its use of defective Takata airbag inflators in its vehicles, according to a consent order made public on Tuesday.American Honda Motor Co and Honda of America also agreed to upgrade their product safety procedures related to frontal airbags, including to reduce the risk their inflators will rupture.The Honda affiliates agreed to the consent order without admitting wrongdoing and to avoid
  
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• Honda Motor units to pay $85 mln to settle U.S. states' probe over Takata air bags

  25-08-2020 18:03 via uk.finance.yahoo.com
  
  Units of Honda Motor Cohave agreed to pay $85 million (64.7 million pounds) to settle an investigation by most U.S. states into its use of defective Takata airbag inflators in its vehicles, according to a consent order made public on Tuesday.The state probes are connected with the ongoing recalls of tens of millions of vehicles equipped with potentially defective Takata inflators that were sold by Honda and other major auto manufacturers over the past 20 years.To date, more than 40 million U.S.
  
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• Jack Ma's mobile payments firm Ant Group plans flotation

  25-08-2020 17:54 via uk.finance.yahoo.com
  Jack Ma's mobile payments firm Ant Group plans flotationHong Kong and Shanghai IPO could raise as much as $30bn, valuing firm at more than $200bn
  
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• Virgin Atlantic reaches ‘significant milestone’ in securing future

  25-08-2020 17:47 via uk.finance.yahoo.com
  
  A vote by creditors was a key part of a court-sanctioned process being used by the airline to implement the deal.
  
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• Woman jumps to her death after strangling 4-year-old son in the woods

  25-08-2020 17:41 via ibtimes.co.uk
  
  The woman's husband refuses to believe the murder-suicide narrative behind the death of his wife and son.
  
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• Market report: DFS sitting pretty after strong trading

  25-08-2020 17:31 via uk.finance.yahoo.com
  
  Furniture retailer DFS’s shares have jumped sharply after it reported trading “significantly ahead” of its previous expectations. In an unexpected trading statement, the group said it had continued to trade strongly since its last update in mid-July, with intake growth over the last six weeks equivalent to £70m in revenues. That was on top of the “strong” order book it previously announced, which puts it in line for a further £100m in revenues later in t
  
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• Virgin Atlantic creditors vote in favour of $1.6 billion rescue plan

  25-08-2020 17:24 via uk.finance.yahoo.com
  
  Virgin Atlantic's creditors on Tuesday voted in favour of a 1.2 billion pound rescue plan, moving the airline a step closer to completing a restructuring deal designed to secure its future beyond the coronavirus crisis."Today, Virgin Atlantic has reached a significant milestone in safeguarding its future, securing the overwhelming support of all four creditor classes, including 99% support from trade creditors who voted in favour of the Plan,"a Virgin Atlantic spokeswoman said in a statement.
  
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• Remaining Virgin Atlantic creditors back £1.2 billion rescue plan

  25-08-2020 17:24 via uk.finance.yahoo.com
  
  Virgin Atlantic's trade creditors voted on Tuesday in favour of a 1.2 billion pound rescue plan, moving the airline a step closer to completing a restructuring designed to secure its future beyond the coronavirus crisis.Virgin Atlantic agreed the deal with shareholders and financial and other major creditors in July, and on Tuesday smaller suppliers that the carrier owed money to also approved it."Today, Virgin Atlantic has reached a significant milestone in safeguarding its future, securing the
  
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• Ford Kuga PHEV on long-term test: a plug-in hybrid that really grows on you

  25-08-2020 17:23 via uk.finance.yahoo.com
  
  On paper, plug-in hybrids appear to be the best all-rounder for a greater number of drivers – offering the low costs and lack of emissions of an electric car in town, with the range and long-distance cruising ability of an internal combustion engine. How does Ford's latest family SUV suit the hybrid treatment? Our car: Ford Kuga Vignale PHEV List price when new: £37,795 OTR Price as tested: £38,635 Official fuel economy: 201.8mpg (WLTP Combined) Fuel economy on test: 51mpg The
  
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• JPMorgan and Linklaters signal end of the daily commute for City workers

  25-08-2020 17:21 via uk.finance.yahoo.com
  
  Two of the City's most powerful firms have called an end to the daily commute by allowing staff to permanently split their time between home and the office after the Covid crisis. The world's biggest investment bank JP Morgan has told staff in London that they will be continuing to work remotely on a part-time basis. Meanwhile Linklaters, one of London’s elite Magic Circle law firms, said employees will be free to work from home for up to half of the week. The pair's decision to abandon th
  
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• NATO exercises blamed for recent mass strandings of whales across Europe

  25-08-2020 17:20 via ibtimes.co.uk
  
  29 recent mass strandings of rare beaked whales across Europe lead experts to believe this was caused by NATO sonar activities
  
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• Microsoft Word can now transcribe your calls and meetings

  25-08-2020 17:16 via uk.finance.yahoo.com
  
  Microsoft has launched ‘Transcribe in Word’, a feature that gives users five hours of free transcription a month.Users will be able to record conversations directly in Word’s web version, but for now it is only the web version.
  
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• Over 64 million meals claimed in first three weeks of Eat Out to Help Out

  25-08-2020 17:11 via uk.finance.yahoo.com
  
  Around 84,000 eateries have now signed up to take part in the scheme, which ends on 31 August.
  
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• SSP overhauls executive pay plans after investor backlash

  25-08-2020 17:03 via uk.finance.yahoo.com
  
  Nearly a third of shareholders voted against SSP's pay plans for top bosses in February.
  
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• Ben Affleck, Ana de Armas are now a live-in couple: report

  25-08-2020 17:02 via ibtimes.co.uk
  
  Ana de Armas was spotted moving her things to Ben Affleck's home in Los Angeles.
  
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• More than 64 million meals claimed through Eat Out to Help Out scheme

  25-08-2020 16:59 via uk.finance.yahoo.com
  
  The Treasury said this represents a continued 'upward trend' in dining, after 10.5 million meals were claimed in the scheme's first week.
  
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• Standard Chartered sues South Africa's Land Bank to recover debt

  25-08-2020 16:56 via uk.finance.yahoo.com
  
  Standard Chartered is suing South Africa's Land Bank to recover some of its debt, Land Bank said on Tuesday, after the state-owned agricultural lender defaulted on 50 billion rand (2.26 billion pounds) worth of debt in April."On 18 August 2020, Standard Chartered Bank served an application out of court on the Land Bank to recover certain debt from the Land Bank," it said, adding it would oppose the application.Standard Chartered did not immediately respond to a request for comment.
  
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• Interested in ODX shares? Here’s what you need to know

  25-08-2020 16:56 via uk.finance.yahoo.com
  
  ODX shares have rallied wildly since the beginning of the coronavirus pandemic. But how sustainable is this rally? Anna Sokolidou tries to find out.The post Interested in ODX shares? Here's what you need to know appeared first on The Motley Fool UK.
  
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