Business news

• US aviation authority investigating Boeing 787 manufacturing flaws

  07-09-2020 23:55 via uk.finance.yahoo.com
  
  The US aviation authority is investigating manufacturing flaws in the Boeing 787 after the company reported that certain plane parts did not conform to its production standards.
  
  Read more

• UK recovery from lockdown deserves more credit - BoE's Haldane

  07-09-2020 23:45 via uk.finance.yahoo.com
  
  The Bank of England's chief economist, Andy Haldane, hailed the recovery so far in Britain's economy after its coronavirus lockdown shock, striking a more upbeat tone than several of his colleagues recently.Haldane told City A.M. newspaper that the "recovery isn't being given enough credit" and the economy "has bounced back" in large part because consumers had shown themselves to be "incredibly resilient and adaptive and so too have businesses."Fellow interest-rate setters Michael Saunders, Depu
  
  Read more

• UK ramps up no deal preparations as EU trade talks stall

  07-09-2020 23:40 via uk.finance.yahoo.com
  
  Britain will tell the European Union on Tuesday that progress must be made in trade talks this week or the government will step up preparations to leave the bloc without a deal as thetime ticks down to an end-of-year deadline.The British government was embroiled in a new row with the EU on the eve of the latest round of negotiations after it was reported that ministers were to publish new legislation that could undercut elements of the Brexit Withdrawal Agreement it signed in January.Britain lef
  
  Read more

• Labour calls for pubs and bars to be granted furlough extension

  07-09-2020 23:30 via uk.finance.yahoo.com
  
  Labour calls for pubs and bars to be granted furlough extension. Blanket approach to ending scheme will mean a wave of closures, says shadow minister
  
  Read more

• Advertisement

• Questor: no divi yet from OneSavings Bank – but it could return in six months’ time. Hold

  07-09-2020 22:58 via uk.finance.yahoo.com
  
  Who on earth would want to be a bank right now? The Western world is already heavily indebted. Regulation is tight. The economic fallout from the pandemic raises the prospect of bad loans and lower earnings. To cap it all, central banks’ policies of low interest rates and quantitative easing are crushing profit margins on loan books. It is an unremittingly grim picture. And yet banks come with one saving grace: none of this is new and it can therefore be argued that valuations already refl
  
  Read more

• Trump again raises idea of decoupling economy from China

  07-09-2020 21:32 via uk.finance.yahoo.com
  
  With the U.S. election approaching, President Donald Trump on Monday again raised the idea of separating the U.S. and Chinese economies, also known as decoupling, suggesting the United States would not lose money if the world's two biggest economies no longer did business."So when you mention the word decouple, it's an interesting word," Trump told a Labor Day news conference at the White House in which he vowed to bring jobs back to America from China.Trump, who long touted friendly ties with C
  
  Read more

• Three private equity groups await Serie A decision over 'historic' deal - sources

  07-09-2020 21:31 via uk.finance.yahoo.com
  
  Three private equity groups have submitted final bids to Italy's top-flight soccer league and are awaiting a decision over a deal that could shake up the country's soccer industry, sources familiar with the matter told Reuters.The Serie A clubs are due to meet on Wednesday to review offers for a stake in a newly-created holding vehicle that will control the league's broadcasting rights business for the next 10 seasons, the sources said."This is a historic decision for Italian football," one of t
  
  Read more

• UK records nearly 3,000 new Covid-19 cases for second day

  07-09-2020 20:44
  Hancock blames affluent young people for increase and Scotland widens controls
  
  Read more

• Advertisement

• UK records almost 3,000 new Covid-19 cases for second day

  07-09-2020 20:44
  Health secretary blames affluent young people for increase as Wales imposes first local lockdown
  
  Read more

• UK Covid-19 infections jump for second day

  07-09-2020 20:44
  Hancock blames affluent young for increase as nearly 6,000 new cases recorded in 48 hours and Scotland widens controls
  
  Read more

• HMRC says fraud and error on furlough schemes could total £3.5bn

  07-09-2020 20:30
  Tax authority will not fine mistaken claims but is pursuing 27,000 ‘high-risk’ cases, chief tells MPs
  
  Read more

• Business leaders warn Boris Johnson that Brexit deal is essential

  07-09-2020 20:28 via uk.finance.yahoo.com
  
  Business leaders warn Boris Johnson that Brexit deal is essentialAs critical negotiations get under way, business groups say failure would damage UK’s fragile post-pandemic economy
  
  Read more

• Softbank's $4bn profit on US tech bets hasn't impressed investors

  07-09-2020 20:22 via uk.finance.yahoo.com
  
  Softbank's $4bn profit on US tech bets hasn't impressed investors. Masayoshi Son looks like a gambler on a lucky streak so it’s no wonder shares in his firm were down 7%
  
  Read more

• Protests over 'racist' ads shut hundreds of S.Africa pharmacies

  07-09-2020 20:06 via uk.finance.yahoo.com
  
  Protests forced more than 400 stores of South Africa's biggest pharmacy chain to close on Monday after a controversial "racist" hair advertisement provoked widespread outrage.
  
  Read more

• FAA investigating manufacturing flaws in Boeing 787 jetliners

  07-09-2020 19:55 via uk.finance.yahoo.com
  
  The U.S. Federal Aviation Administration said Sunday it is investigating manufacturing flaws involving some Boeing 787 Dreamliners but said it was too early to say if it will require new inspections.Boeing said in August airlines operating its 787 Dreamliners had removed eight jets from service as a result of two distinct manufacturing issues in fuselage sections.The FAA could require inspections covering hundreds of 787 jetliners after production issues at one plant, a person briefed on the mat
  
  Read more

• Boeing's production issues may prompt FAA review of hundreds of Dreamliner jets - WSJ

  07-09-2020 19:55 via uk.finance.yahoo.com
  
  Boeing last month said that some airlines operating its 787 Dreamliners have removed eight jets from service after the planemaker identified two distinct manufacturing issues in the fuselage section.In the memo dated Aug. 31, Boeing told FAA that it had manufactured some parts at its South Carolina facilities that failed to meet its standards, according to WSJ.
  
  Read more

• Italy's Treasury signs off on decree to sell Monte dei Paschi - sources

  07-09-2020 19:52 via uk.finance.yahoo.com
  
  Italian Economy Minister Roberto Gualtieri has signed off on a government decree listing options to sell Italy's controlling stake in Monte dei Paschi di Siena , two sources close to the matter told Reuters.Rome rescued Monte dei Paschi in 2017, spending 5.4 billion euros (4.9 billion pounds) on a 68% stake which under the terms of the bailout negotiated with European Union competition authorities must be sold next year.Gualtieri's signature paves the way for final approval by Prime Minister Giu
  
  Read more

• The perils of Britain’s Brexit brinkmanship

  07-09-2020 19:31
  No-deal exit that does not respect UK commitments is worst outcome
  
  Read more

• Inequality is already rising in Australia. Tax cuts would entrench it for no economic benefit

  07-09-2020 19:30 via uk.finance.yahoo.com
  
  Inequality is already rising in Australia. Tax cuts would entrench it for no economic benefitLower tax revenue would lead to cuts in spending and services and even more resistance to raising social security
  
  Read more

• Australia's jobless benefits will be among worst in OECD after Covid supplement cut

  07-09-2020 19:30 via uk.finance.yahoo.com
  
  Australia's jobless benefits will be among worst in OECD after Covid supplement cutExclusive: Analysis shows jobseeker and rent assistance will drop below all OECD nations except Greece and New Zealand
  
  Read more

• Morrisons supermarket chain takes on thousands of new staff

  07-09-2020 19:26 via uk.finance.yahoo.com
  
  Morrisons supermarket chain takes on thousands of new staffBradford-based retailer expands online delivery service and in-store cleaning
  
  Read more

• AB InBev starts search for long-time CEO Brito's successor - FT

  07-09-2020 19:22 via uk.finance.yahoo.com
  
  The world's biggest brewer is considering external candidates to replace Brito, who has been its CEO for 16 years and has overseen a string of mergers that transformed two Brazilian and Belgium drink-makers into a global giant, the FT reported, citing people with knowledge of the matter.AB InBev declined to comment on the FT report, which also said that the company is currently considering only one internal candidate, Michel Doukeris, who heads its North America-based Anheuser-Busch business.Bri
  
  Read more

• AB InBev begins search to replace long-time CEO Brito - FT

  07-09-2020 19:22 via uk.finance.yahoo.com
  
  The world's biggest brewer is considering external candidates to replace Brito, who has been its CEO for 16 years and has overseen a string of mergers that transformed two Brazilian and Belgium drink makers into a global giant, the FT reported, citing people with knowledge of the matter.AB InBev declined to comment on the FT report, which also said that the company is currently considering only one internal candidate, Michel Doukeris, who heads its North America-based Anheuser-Busch business, ci
  
  Read more

• Lockdown job loss: Leeds station CV man gets interviews

  07-09-2020 18:58 via bbc.co.uk
  
  Trevor Walford, 63, held up a sign in Leeds asking for work after losing his job amid the pandemic.
  
  Read more

• No Nord Stream 2? No problem for Germany, economists say

  07-09-2020 18:44 via uk.finance.yahoo.com
  
  Abandoning the nearly complete Nord Stream 2 gas pipeline from Russia to Germany could create a legal mess and nudge up energy costs for European households but Germany would cope with any disruption to supplies, economists say.German Foreign Minister Heiko Maas at the weekend questioned the project -- thus far supported by Germany -- following the suspected poisoning of Kremlin critic Alexei Navalny.Chancellor Angela Merkel's spokesman reinforced the shift in tone on Monday, saying she shared t
  
  Read more

• Netflix boss: Remote working has negative effects

  07-09-2020 18:43 via bbc.co.uk
  
  Founder Reed Hastings says working from home has no positive effects and makes debating ideas harder.
  
  Read more

• Experts shoot warning over return of football fans

  07-09-2020 18:42 via uk.finance.yahoo.com
  
  Reopening football stadiums should be treated with “caution” after research showing rising Covid-19 cases and fatalities after matches in February and March, experts have said. Football has been played behind closed doors since the lockdown, but the study by academics at Aston University and the University of Reading comes as League Two club Cambridge United prepares to host the first professional game in front of a crowd for five months under a pilot scheme tonight. Economists Matth
  
  Read more

• Up to £3.5bn of furlough cash could be lost to fraud and error

  07-09-2020 18:37 via uk.finance.yahoo.com
  
  As much as £3.5bn has been stolen from the public purse through fraudulent claims on the taxpayer-funded furlough scheme, the boss of HMRC has warned. Up to 10pc of the more than £35bn so far spent to preserve jobs could have been lost to fraud or error, Jim Harra said - more than the annual budget for the foreign office. The figure suggests almost 1m employees could be covered by false claims. Firms have been handed money covering 9.6m jobs. Chancellor Rishi Sunak's furlough scheme
  
  Read more

• Coronavirus: Ireland confirms recession as it posts record quarterly slump

  07-09-2020 18:30 via uk.finance.yahoo.com
  
  Ireland has officially entered recession after the COVID-19 crisis resulted in its economy shrinking by a record 6.1% in the second quarter.
  
  Read more

• Thomas Cook could be back as an online travel agent

  07-09-2020 18:25 via uk.finance.yahoo.com
  
  Thomas Cook could be back as an online travel agentChinese group that bought the brand after its collapse is seeking approval from CAA
  
  Read more

• No going back to pre-Covid times

  07-09-2020 18:19 via uk.finance.yahoo.com
  
  No going back to pre-Covid timesJohn Butterworth says local amenities and communities could be revitalised with people continuing to work from home, Dr Richard Tyler anticipates a significant spike in university towns and Mike Pender despairs after a night out in Cardiff
  
  Read more

• JP Morgan brings more London bankers back to the office

  07-09-2020 18:19 via uk.finance.yahoo.com
  
  JP Morgan is to double the number of investment bankers who can use its offices each day as City firms grapple with the challenge of bringing workers safely back to their desks. Half of the finance behemoth's London-based investment bankers can now work from its Canary Wharf headquarters at any one time, compared to a previous maximum of 25pc. The increase is likely to affect several hundred people. Bankers and other JP Morgan staff are working a "week on, week off" pattern in the office to main
  
  Read more

• Sterling hit as Johnson resurrects spectre of no-deal Brexit

  07-09-2020 18:15 via uk.finance.yahoo.com
  
  The British pound took a hit Monday as Prime Minister Boris Johnson appeared to revive investor fears of a no-deal Brexit, dealers said.
  
  Read more

• Boris Johnson is happy with No Deal but has not made preparations for the chaos that could bring

  07-09-2020 17:59 via uk.finance.yahoo.com
  
  For most of the past few months, it’s seemed the Brexit stalemate has been simple posturing.They talk tough on fish, we talk tough on state aid, eventually we get down to doing a deal.
  
  Read more

• SoftBank value slumps as investors fear it may be the 'Nasdaq whale'

  07-09-2020 17:55 via uk.finance.yahoo.com
  
  SoftBank value slumps as investors fear it may be the 'Nasdaq whale'Japanese tech investor loses £7bn after reports say bank was behind last week’s stock surge
  
  Read more

• Man sells collection of 28 years' worth of birthday whisky bottles for £40,000

  07-09-2020 17:52 via ibtimes.co.uk
  
  The collection got a lot of offers from interested parties mostly from New York and Asia.
  
  Read more

• Market report: Buyout talk drives FirstGroup higher

  07-09-2020 17:45 via uk.finance.yahoo.com
  
  Shares in transport operator FirstGroup jumped on Monday after The Sunday Telegraph revealed buyout funds were circling parts of its US operations. The group climbed 10.7p to 50.5p, leading risers on the FTSE 250. Sources said Canary Wharf owner Brookfield, Apollo Global Management and KKR were all among the potential buyers for FirstStudent and FirstTransit – the mid-cap’s most profitable divisions. Analysts estimate the two divisions could fetch around $4bn (£3bn) if sold. Fi
  
  Read more

• Johnson’s one-legged economic strategy is tripping up Tories

  07-09-2020 17:38
  Lack of coherent vision risks making the UK government seem directionless
  
  Read more

• Dangers of dating apps: Man violently attacks date in her own home

  07-09-2020 17:35 via ibtimes.co.uk
  
  The mother-of-two was brutally beaten by the man while her children were sleeping in their rooms.
  
  Read more

• Suffolk Police statement following Kesgrave shooting

  07-09-2020 17:32 via uk.finance.yahoo.com
  
  A teenager has been arrested after a 15-year-old boy sustained serious injuries in a shooting close to Kesgrave High School.
  
  Read more

• Facebook blocks dying Frenchman's attempt to livestream his own death

  07-09-2020 17:25 via ibtimes.co.uk
  
  Alain Cocq said he has no plans to upset his viewers, hence, the video will broadcast without sound and the camera will stop rolling soon after he dies.
  
  Read more

• Music festivals face 'catastrophe' under social distancing rules

  07-09-2020 17:23 via uk.finance.yahoo.com
  
  The music festival operator behind Latitude and Download has warned of an industry “catastrophe” without clarity from ministers over how events can be held next year. Melvin Benn, managing director of Festival Republic, said festivals would close and thousands of jobs would be lost if the government failed to find a way for events to operate at full capacity in 2021. The coronavirus crisis sparked widespread cancellations of music festivals this year, leaving a financial hole in the
  
  Read more

• Exclusive: Worldline $9.2 billion Ingenico deal may need EU concessions - sources

  07-09-2020 17:17 via uk.finance.yahoo.com
  
  French payments company Worldline's 7.8 billion euro($9.23 billion) bid for Ingenico may require concessions to gain European Union antitrust regulator approval, people familiar with the matter said on Monday.The acquisition by Worldline, which was born out of French IT company Atos, is emblematic of a wave of mergers and acquisitions that U.S. rivals kicked off last year as they try to build up their share of digital transactions.If Worldline is not able to allay EU concerns and in the absence
  
  Read more

• Business focus: As staff return to offices, how different do workspaces look since lockdown started?

  07-09-2020 17:06 via uk.finance.yahoo.com
  
  London feels busier this month. The roads look busier. The tube looks busier. Offices (some) look (slightly) busier. September marks not only kids returning to school, but also many workers entering HQs for the first time since March when the lockdown started.A number of firms have told the Standard they are planning to have more employees back into offices from this month. For those returning to City and West End desks this week, the office is likely to look and feel very different.
  
  Read more

• Business focus: As staff return to offices, how different do workplaces look since lockdown started?

  07-09-2020 17:06 via uk.finance.yahoo.com
  
  The Evening Standard is this month running a number of features on the London office market. This week Joanna Bourke looks at some immediate changes in buildings that people returning to offices might observe…London feels busier this month. The roads look busier. The tube looks busier. Offices (some) look (slightly) busier. September marks not only kids returning to school, but also many workers entering HQs for the first time since March when the lockdown started.
  
  Read more

• F1: Red Bull racing feels pressure to 'swap' Gasly and Albon again

  07-09-2020 17:02 via ibtimes.co.uk
  
  However, making another driver swap may cause the team to lose face.
  
  Read more

• Thai man escapes death penalty for killing sister and her Scottish husband

  07-09-2020 16:58 via ibtimes.co.uk
  
  The man and his two accomplices were spared the lethal injection after the ruling was overturned.
  
  Read more

• British entertainment, left in dark, seeks government insurance help

  07-09-2020 16:51 via uk.finance.yahoo.com
  
  British theatres and live music venues say the show will only go on if the government provides a financial backstop, as the COVID-19 pandemic means they can no longer get commercial insurance.While venues for indoor live performances are not yet open in all of Britain, theatres and concert halls in England have in theory been open to socially-distanced audiences since mid-August."You're not going to get a sponsor, full-house ticket sales, finance, TV licensing or big stars unless they are guaran
  
  Read more

• Nestle on track to meet sustainable packaging goal

  07-09-2020 16:32 via uk.finance.yahoo.com
  
  Nestlehas increased the share of recyclable or reusable plastics to package its products to 87%, making progress towards its 100% goal by 2025, and gave examples of innovation to cut plastic waste in a media briefing on Monday.Regularly cited by environmental groups such as Greenpeace as one of the top plastic polluters, the food giant has vowed to reduce its use of new plastics by a third by 2025 and spend up to 2 billion Swiss francs ($2.19 billion) to boost recycled plastics.The Swiss-based c
  
  Read more

• Electric car warning signals as Denmark calculates cost of switch

  07-09-2020 16:13 via uk.finance.yahoo.com
  
  A rapid switch from to electric cars to meet Denmark's ambitious climate targets will leave a massive gap in its finances, a government commission said on Monday.Moving to electric vehicles from those powered by fossil fuels is central to Denmark's goal of cutting emissions by 70% by 2030 and becoming climate neutral no later than 2050.In March, the Danish Council on Climate Change, an independent advisor to the Danish government, said the number of electric cars should rise to at least 1 millio
  
  Read more

Follow @Business_UKnews on Twitter!