Business news

• Elon Musk unveils working Neuralink chip that connects brain directly to computer

  28-08-2020 23:55 via uk.finance.yahoo.com
  
  Elon Musk has demonstrated a working brain-computer interface that he hopes will allow "human-AI symbiosis".During a live event held by his neurotechnology startup Neuralink, Mr Musk showed off a chip that had been implanted directly into a pig's brain.
  
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• 'Fresh paint on crumbling building': Lebanon bank clean-up raises doubts

  28-08-2020 23:52 via uk.finance.yahoo.com
  
  Bankers and analysts have voiced scepticism about attempts by Lebanon's central bank to clean up the country's banks, warning they must form part of a wider rescue plan to fix its broken financial and economic system.In a series of circulars on Thursday, the central bank told domestic banks to raise fresh capital, urge their big depositors to move funds back to the country and provision for a 45% loss on their Eurobond holdings.The move follows a further downward spiral in Lebanon's fortunes sin
  
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• Triller says made $20 billion bid with Centricus for TikTok assets

  28-08-2020 23:50 via uk.finance.yahoo.com
  
  Triller Inc executive chairman Bobby Sarnevesht said on Friday that the short-video app had made a $20 billion (14.9 billion pounds) offer with investment firm Centricus Asset Management Ltd for the assets of rival TikTok that China's ByteDance is seeking to a divest.ByteDance and TikTok denied knowledge of the offer, raising questions over whether the proposed deal between two of the most popular social media apps in the United States represented a serious bid or was a publicity stunt.ByteDance
  
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• TikTok says it has not received a bid from Centricus and Triller

  28-08-2020 23:50 via uk.finance.yahoo.com
  
  Investment firm Centricus Asset Management Ltd and social media app Triller Inc have not submitted an offer for the TikTok assets that China's ByteDance is seeking to a divest, a spokesman for the short video app said on Friday.Bloomberg News reported earlier on Friday, citing a person familiar with the matter, that Centricus, which is seeking to partner with Triller and other investors, submitted a $20 billion (15.14 billion pounds) bid to ByteDance for TikTok's assets in the United States, Aus
  
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• Dow erases 2020 losses as US stocks charge upwards

  28-08-2020 23:47 via uk.finance.yahoo.com
  
  Wall Street flexed its muscles on Friday, with the Dow erasing its losses for the year and the S&P; and Nasdaq again hitting records as investors shrugged off the ongoing coronavirus crisis, while markets elsewhere saw more moderate trading.
  
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• Business calls for clarity on where people should work

  28-08-2020 23:43
  Government prepares new media campaign to encourage more employees to return to workplace
  
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• Robot eases loneliness of Mexican virus patients

  28-08-2020 23:36 via uk.finance.yahoo.com
  
  A robot at a hospital in the Mexican capital is providing a lifeline for coronavirus patients separated from their relatives and reducing the risk of infection for medical workers.
  
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• Neuralink event as it happened: Elon Musk unveils technology connecting human brain to computers

  28-08-2020 23:22 via uk.finance.yahoo.com
  
  Elon Musk has demonstrated a functional brain-computer interface developed by his Neuralink startup.It is only the second public event of the neurotechnology startup since it was founded in 2016 and the ultimate aim is to merge humans with artificial intelligence.
  
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• Five things to focus on in your CV

  28-08-2020 23:17 via bbc.co.uk
  
  When it comes to CV-writing, maximise your chances of a job by focusing on these five things.
  
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• Apple terminates 'Fortnite' creator's App Store account as lawsuit proceeds

  28-08-2020 23:16 via uk.finance.yahoo.com
  
  Apple said its move will not affect Epic Games' Unreal Engine, a software tool relied on by hundreds of other app makers.Players who have already downloaded Epic's games will still be able to play but will no longer be able to make in-app purchases with Apple's payment system.
  
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• Waitrose signs up Deliveroo for rapid food delivery

  28-08-2020 23:15 via bbc.co.uk
  
  Deliveroo customers could have goods from Waitrose delivered to their homes within 30 minutes.
  
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• Learner drivers park manual cars in shift to automatic

  28-08-2020 23:13 via bbc.co.uk
  
  The number of people taking lessons in automatic vehicles has risen every year since 2012.
  
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• Apple blocks Fortnite maker Epic Games from game developer tools

  28-08-2020 22:53 via uk.finance.yahoo.com
  
  Apple has blocked Fortnite developer Epic Games from accessing its developer tools amid an ongoing legal battle between the two firms.The move means anyone with an iPhone or iPad will no longer be able to download the hugely popular game with immediate effect.
  
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• Canada economy takes record plunge but outlook bright

  28-08-2020 22:18 via uk.finance.yahoo.com
  
  Canada's economy shrank at a record pace in the second quarter but by the end of the period showed signs of a rapid recovery from the pandemic trauma that forced businesses to close and put millions out of work.
  
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• Premier League plots stadium reopenings to avoid lossmaking season

  28-08-2020 22:00
  Clubs, broadcasters and government in talks to return sport to normality but shadow of pandemic looms
  
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• Walmart ad revenue could quickly jump if TikTok bid succeeds

  28-08-2020 21:47 via uk.finance.yahoo.com
  
  Walmart Inccould turn into an online advertising leader if its plan to acquire popular short-form video app TikTok goes through, analysts said on Friday.The proposed purchase, in partnership with Microsoft Corp , would allow the world's largest retailer to quickly compete with Amazon.com Inc , Facebook Incand Alphabet Inc's Googlefor eyeballs on social media, reaching customers across virtual and physical sales channels.TikTok is up for sale as the Chinese-owned company is under fire from the Tr
  
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• Andrew Bailey says BoE has ample ‘firepower’ to support UK economy

  28-08-2020 21:04
  Bank must retain ability to ‘go big and go fast’ to fight future crises, governor warns
  
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• Wall Street's 'fear gauge' climbs despite U.S. stock rally

  28-08-2020 20:41 via uk.finance.yahoo.com
  
  U.S. stocks are rallying, but so too is Wall Street's "fear gauge," in an unusual twist.The Cboe Volatility Indexwas set for a second week of gains, despite a drop on Friday, even as the benchmark S&P 500has climbed nearly 3% for the week.The S&P 500 is on track for nearly a 7% monthly gain, exceeding the expectations priced into options, said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group.
  
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• Trump administration says Sinochem and others backed by Chinese military

  28-08-2020 20:30 via uk.finance.yahoo.com
  
  The Trump administration has determined that another 11 Chinese firms, including construction giant China Communications Construction Company, are owned or controlled by the Chinese military, laying the groundwork for new sanctions.The new list comes after the Pentagon earlier this year designated 20 top Chinese firms as Chinese military companies operating directly or indirectly in the United States, including those "owned or controlled" by the People's Liberation Army that provide commercial s
  
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• Exclusive: Sanofi more confident about its coronavirus vaccines

  28-08-2020 20:07 via uk.finance.yahoo.com
  
  Sanofi'sconfidence in its coronavirus vaccine candidates has increased this summer as the French drugmaker prepares to start clinical trials, its chief executive told Reuters.The company is working on two of the more than 150 potential vaccines being developed across the world to tackle the COVID-19 pandemic, which has claimed more than 831,000 lives and sparked economic chaos.One candidate, to be manufactured on the back of an existing platform that develops vaccines to treat flu, will use an a
  
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• French bank Natixis backs H20 arm's suspension of some funds

  28-08-2020 19:49 via uk.finance.yahoo.com
  
  French bank Natixissaid on Friday it supported steps taken by its H20 Asset Management arm to temporarily suspend some of its funds, and that the suspension of those funds would have no financial impact on Natixis.H2O Asset Management said it had temporarily suspended eight of its funds for an estimated period of four weeks, with the aim of re-establishing liquidity for investors in the portion of the funds invested in liquid assets.Natixis owns 50.01% of H20, which has around 21.7 billion euros
  
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• Online sales of used goods on eBay up 30% during UK lockdown

  28-08-2020 19:47 via uk.finance.yahoo.com
  
  Online sales of used goods on eBay up 30% during UK lockdownVintage fashion sells well between March and June in trend shared by other retailers
  
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• US economy still sees sluggish spending, 'depressed' confidence

  28-08-2020 19:23 via uk.finance.yahoo.com
  
  US consumers continued to spend in July but the gains were much slower than the prior two months amid a surge in coronavirus cases, and confidence remained in a "depressed range," according to new data released Friday.
  
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• Fed policymakers do their own math on 'average' inflation

  28-08-2020 19:16 via uk.finance.yahoo.com
  
  A day after rolling out a new strategy for U.S. monetary policy, Federal Reserve officials on Friday diverged over what it might mean in practice, saying there is no exact formula for the average inflation rate they plan to target.While the aim of the new strategy is to allow higher inflation and, as a side-effect, additional job growth over time, Fed policymakers differed over just how much more inflation they will tolerate or what metrics they will be looking at - a complication for investors
  
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• Fed officials say no exact formula for new monetary policy strategy

  28-08-2020 19:16 via uk.finance.yahoo.com
  
  A day after rolling out a new strategy for U.S. monetary policy, Federal Reserve officials on Friday diverged over what it might mean in practice, saying there is no exact science to how they will apply their updated "framework."While the aim is to allow higher inflation and, as a side-effect, additional job growth over time, Fed policymakers differed over just how much more inflation they will tolerate or what metrics they'll be looking at - a complication for investors or households setting ex
  
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• UK businesses offering incentives to coax staff back into the office

  28-08-2020 19:13 via uk.finance.yahoo.com
  
  UK businesses offering incentives to coax staff back into the officeFree food, extra childcare and parking among perks, but there may be legal implications* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Hotel and casino group MGM Resorts lays off 18,000

  28-08-2020 19:06 via uk.finance.yahoo.com
  
  Hotel and casino giant MGM Resorts on Friday said 18,000 furloughed employees in the United States would be permanently laid off as the hospitality industry struggles amid the coronavirus pandemic.
  
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• Coronavirus: Why are COVID-19 outbreaks happening in food factories?

  28-08-2020 18:52 via uk.finance.yahoo.com
  
  Dozens of food processing plants across the UK are dealing with coronavirus outbreaks among their staff.
  
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• Santander hit by online banking outage ahead of holiday weekend

  28-08-2020 18:32 via bbc.co.uk
  
  The hitch comes ahead of the August bank holiday and the day millions receive their monthly salary.
  
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• Bank of England to stay in emergency mode until recovery ensured, says governor

  28-08-2020 18:22 via uk.finance.yahoo.com
  
  Bank of England to stay in emergency mode until recovery ensured, says governor. Andrew Bailey insists ‘act big and act fast’ response effective and declares Bank still has ‘firepower’
  
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• Should we be forced back to the office to save the economy?

  28-08-2020 18:19 via uk.finance.yahoo.com
  
  The nudge is morphing into a shove.What began as a prime ministerial exhortation for British workers to return to their offices if it was safe for them to do so is now, we are told, to become a full-blown government campaign to encourage people to get back to their old desks in town and city centres across the UK.
  
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• World stocks pause for breath after Fed, dollar weakens

  28-08-2020 18:14 via uk.finance.yahoo.com
  
  Global stock markets paused for breath Friday as traders eyed the outlook for both US interest rates and the global coronavirus crisis, while the yen briefly spiked after Japan's prime minister said he was stepping down for health reasons.
  
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• Musk's Neuralink venture unveils pig with computer chip in brain

  28-08-2020 18:11 via uk.finance.yahoo.com
  
  Co-founded by Musk in 2016, San Francisco-based Neuralink aims to implant wireless brain-computer interfaces that include thousands of electrodes in the most complex human organ to help cure neurological conditions like Alzheimer's, dementia and spinal cord injuries and ultimately fuse humankind with artificial intelligence."An implantable device can actually solve these problems," Musk said on a webcast Friday, mentioning ailments such as memory loss, hearing loss, depression and insomnia.
  
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• 'Three little pigs': Musk's Neuralink puts computer chips in animal brains

  28-08-2020 18:11 via uk.finance.yahoo.com
  
  Co-founded by Musk in 2016, San Francisco-based Neuralink aims to implant wireless brain-computer interfaces that include thousands of electrodes in the most complex human organ to help cure neurological conditions like Alzheimer's, dementia and spinal cord injuries and ultimately fuse humankind with artificial intelligence."An implantable device can actually solve these problems," Musk said on a webcast Friday, mentioning ailments such as memory loss, hearing loss, depression and insomnia.
  
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• Waitrose trials rapid Deliveroo delivery as M&S-Ocado deal launches

  28-08-2020 18:05 via uk.finance.yahoo.com
  
  Lockdown measures saw Waitrose expand its delivery slots from 60,000 to 160,000 amid a rise in demand.
  
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• Pound reaches two-year high as dollar slips

  28-08-2020 18:02 via uk.finance.yahoo.com
  
  The pound climbed to its highest level against the dollar in more than two years on Friday as jitters over Covid an ultra-low interest rates weighed down on the US currency. Sterling rose more than 1pc against the dollar to above $1.33, briefly touching highs not reached since June 2018 in a major turnaround from the $1.14 hit at the depths of the crisis in March. It also climbed more than 0.4pc against the euro to €1.12. The US dollar index fell deep into the red in the aftermath of a spee
  
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• MGM Resorts lays off 18,000 staff

  28-08-2020 17:50 via uk.finance.yahoo.com
  
  MGM Resorts is laying off about 18,000 employees - more than a quarter of its pre-pandemic US workforce, as punters continue to avoid casinos. Most of the cuts will fall on Las Vegas, where MGM is the biggest casino operator and has struggled to fill its hotels since Nevada began reopening in early June. Two casinos, the Park MGM in Las Vegas and Empire City in New York, remain closed. “While we have safely resumed operations at many of our properties and have returned tens of thousands of
  
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• Why I think the HSBC share price is too cheap to miss

  28-08-2020 17:48 via uk.finance.yahoo.com
  
  The HSBC share price has collapsed in 2020. Here's why I think it's hit rock bottom, and I'd buy for both dividends and growth.The post Why I think the HSBC share price is too cheap to miss appeared first on The Motley Fool UK.
  
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• Waitrose enlists Deliveroo to help take on M&S and Ocado

  28-08-2020 17:35 via uk.finance.yahoo.com
  Waitrose enlists Deliveroo to help take on M&S and OcadoTuesday marks new front in fight for online groceries market as Ocado and Waitrose part ways
  
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• Aspiring 19-year-old boxer left with lungs of 80-year-old lifelong smoker due to vaping for 6 months

  28-08-2020 17:32 via ibtimes.co.uk
  At the age of 16, Ewan Fisher spent 10 weeks on life support and needed an artificial lung for him to survive.
  
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• Facebook sues developer for selling fake Instagram likes

  28-08-2020 17:30 via uk.finance.yahoo.com
  
  Facebook is suing multiple developers in the UK and US for violating its policies by selling fake likes on Instagram.The developer, Nikolay Holper, operated a “fake engagement service” known as Nakrutka, Facebook alleged in a statement.
  
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• Lewis Hamilton faces pressure to boycott Belgian Grand Prix

  28-08-2020 17:26 via ibtimes.co.uk
  
  Black athletes including tennis and NBA stars have been boycotting competitions as a form of protest against the Jacob Blake shooting.
  
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• Elon Musk's net worth tops $100 billion - Forbes

  28-08-2020 17:26 via uk.finance.yahoo.com
  
  A large chunk of his wealth comes from the 21% stake in Tesla, according to Forbes.Tesla shares, which went public at $17 a piece in 2010, rose as much as 3.5% in morning trade to a record high of $2,318.49.The company became the world's most valuable carmaker by market capitalization on July 1 when it overtook front runner Toyota Motor Corpand has over the last 10 years made many of its retail investors millionaires.
  
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• MGM Resorts to lay off 18,000 furloughed workers in U.S. - WSJ

  28-08-2020 17:25 via uk.finance.yahoo.com
  
  The company, which had about 52,000 full-time and 18,000 part-time employees in the United States, as of Dec. 31, will start laying off workers on Monday, according to an MGM letter to its employees seen by Reuters.A number of companies are announcing jobs cuts as the U.S. economy suffered its sharpest contraction in at least 73 years in the second quarter due to disruptions induced by the pandemic, with corporate profits sinking deeper.Hornbuckle said that employees who will be laid off on Aug.
  
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• MGM Resorts to lay off 18,000 furloughed U.S. employees

  28-08-2020 17:25 via uk.finance.yahoo.com
  
  The company will start the process on Monday, according to a letter from Chief Executive Officer Bill Hornbuckle to employees and seen by Reuters.MGM employed nearly 52,000 fulltime and 18,000 part-time people in the United States as of Dec. 31.Many companies have decided to cut jobs as the U.S. economy recorded its sharpest contraction in at least 73 years in the second quarter due to pandemic-led disruptions, with corporate profits sinking deeper.
  
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• Amigo shares have rallied today! Here’s what I’d do now

  28-08-2020 17:24 via uk.finance.yahoo.com
  
  Amigo shares rallied wildly today. Are they still worth buying? Anna Sokolidou thinks she knows the answer.The post Amigo shares have rallied today! Here's what I'd do now appeared first on The Motley Fool UK.
  
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• Zoom boom costs UK workers 862 million hours of productivity

  28-08-2020 17:23 via uk.finance.yahoo.com
  
  UK workers lose productive hours to 'zoom fatigue,' study finds.
  
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• Bailey: 'Go big and go fast' to tackle crisis

  28-08-2020 17:19 via uk.finance.yahoo.com
  
  The Bank of England can call on more firepower to tackle the Covid-19 crisis as rate-setters “go big and go fast” on stimulus, Governor Andrew Bailey declared on Friday. Mr Bailey, speaking online at the Jackson Hole central banking symposium, said new research showed the Bank’s money-printing efforts had the most impact during episodes of major turmoil. Threadneedle Street is reviewing its arsenal of policy tools, including the “possibility” of using controversial
  
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• UK supermarket Waitrose partners Deliveroo for 30-minute delivery

  28-08-2020 17:05 via uk.finance.yahoo.com
  
  British supermarket Waitrose is teaming up with Deliveroo to trial fast home-delivery as its long partnership with online grocery specialist Ocadocomes to an end.The supermarket, part of the employee-owned John Lewis Partnership, said Deliveroo customers would be able to order more than 500 food and drink products for delivery in as little as 30 minutes in the period between one hour after stores open and one hour before they close.The service, which will complement the supermarket's own two-hou
  
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• Europe set for winter of gas price weakness as supplies swell

  28-08-2020 16:57 via uk.finance.yahoo.com
  
  Brimming storage tanks and ample supplies mean European gas wholesale prices are unlikely to rise significantly over the peak demand winter months, unless the weather is abnormally harsh.In the first half of this year, European gas prices touched record lows after a glut of liquefied natural gas (LNG) came to Europe and coronavirus lockdowns and reduced industrial output crushed demand.Dutch gas prices (the European benchmark)fell to an all-time low of around 2 euros ($2.4) per megawatt hour (MW
  
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