Business news

• AstraZeneca suspends leading COVID-19 vaccine trials after a participant's illness

  08-09-2020 23:51 via uk.finance.yahoo.com
  
  The vaccine, developed with the University of Oxford, has been described by the World Health Organization as probably the world's leading candidate and the most advanced in terms of development.The suspension dims prospects for an early rollout amid reports that the United States was aiming for a fast-track approval before the November presidential election."This is a routine action which has to happen whenever there is a potentially unexplained illness in one of the trials," the company said in
  
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• In new Brexit row, Britain sets out details for post-EU life

  08-09-2020 23:37 via uk.finance.yahoo.com
  
  Britain will set out new details of its blueprint for life outside the European Union on Wednesday, publishing legislation a government minister acknowledged would break international law in a "limited way" and which could sour trade talks.After leaving the EU in January, Prime Minister Boris Johnson has pushed on with plans for the end of a status quo period in December, and hoped a bill on Britain's internal market would set in stone the transfer of powers from Brussels.The EU has warned Brita
  
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• US stocks tumble again while pound falls on Brexit uncertainty

  08-09-2020 23:25 via uk.finance.yahoo.com
  
  US stocks dove Tuesday along with oil prices and the pound as markets mulled heightened Brexit tension amid lackluster economic outlook that has dented petroleum demand.
  
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• Apple sues Fortnite maker Epic for breaching contract

  08-09-2020 23:22 via uk.finance.yahoo.com
  
  Apple has launched a legal offensive against Epic Games, the developer behind the hit video game Fortnite, suing the company for attempting to bypass the Apple payment system. The countersuit, which seeks damages for breach of the contract that app developers sign, comes four weeks after Epic sued Apple, claiming the iPhone maker abuses a monopoly over app distribution on its devices. Tuesday’s move escalates an ill-tempered row between the two companies over the commission Apple takes on
  
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• Apple accuses Fortnite maker of 'theft' in App Store dispute

  08-09-2020 23:22 via uk.finance.yahoo.com
  
  Apple has launched a legal offensive against Epic Games, the developer behind the hit video game Fortnite, suing the company for attempting to bypass the Apple payment system. The countersuit, which seeks damages for breach of the contract that app developers sign, comes four weeks after Epic sued Apple, claiming the iPhone maker abuses a monopoly over app distribution on its devices. Apple said that when Epic used its own payment system, violating Apple's App Store rules, the company was steali
  
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• German carmakers, government to look at boosting suppliers' equity capital

  08-09-2020 23:09 via uk.finance.yahoo.com
  
  German Chancellor Angela Merkel's government and representatives of its powerful auto industry agreed on Tuesday to look in to possible ways of strengthening the equity capital of companies in the sector, especially for suppliers.In particular, he said, the working groups would examine "whether and how a market-economy concept could be developed to strengthen equity capital, especially of supplier companies."The government has already introduced a stimulus package, including measures to help the
  
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• German carmakers, gov't to look at boosting suppliers' equity capital

  08-09-2020 23:09 via uk.finance.yahoo.com
  
  German Chancellor Angela Merkel's government and representatives of its powerful auto industry agreed on Tuesday to look in to possible ways of strengthening the equity capital of companies in the sector, especially for suppliers.In particular, he said, the working groups would examine "whether and how a market-economy concept could be developed to strengthen equity capital, especially of supplier companies."The government has already introduced a stimulus package, including measures to help the
  
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• Uber pledges all vehicles to be electric by 2040

  08-09-2020 23:00 via uk.finance.yahoo.com
  
  Uber has pledged that every vehicle on its platform will be electric by 2040 - and by 2030 in the UK, US, Canada and Europe.
  
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• Unilever CEO expects shareholder support for UK HQ move

  08-09-2020 22:33 via uk.finance.yahoo.com
  
  Speaking at a virtual conference hosted by Barclays, CEO Alan Jope said Unilever's board was "absolutely committed" to its proposal and is expecting "strong shareholder support."Jope repeated Unilever's belief that the law proposed in the Netherlands by the opposition Green Left party, which would result in an 11 billion euro (9.97 billion pounds) tax bill to the Dutch government, was illegal, but noted that it was still in its infancy.
  
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• Nasdaq drops over 4% as tech sector sell-off continues

  08-09-2020 22:18 via uk.finance.yahoo.com
  
  Nasdaq drops over 4% as tech sector sell-off continuesTesla shares plunged 21%, Apple fell 6.7% and Amazon dropped 4.3% while all major US markets were in the red
  
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• JPMorgan Chase probing fraud in US stimulus programs

  08-09-2020 21:57 via uk.finance.yahoo.com
  
  US financial behemoth JPMorgan Chase said Tuesday it was working with authorities after learning of unethical conduct by customers and employees connected to huge government pandemic relief programs.
  
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• Apple seeks damages from Fortnite maker in App Store dispute

  08-09-2020 21:53 via uk.finance.yahoo.com
  
  Apple on Tuesday asked a US federal court to order Fortnite maker Epic Games to pay damages in a legal dispute over the rules for the iPhone maker's online marketplace.
  
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• Tesla loses a third of its value in a week after missing out on S&P 500

  08-09-2020 21:43 via uk.finance.yahoo.com
  
  Tesla's brutal losing streak accelerated on Tuesday as the company’s snub from the S&P; 500 and news of increased competition from General Motors meant it lost almost a fifth of its value. Elon Musk’s electric car company declined by more than 20pc, meaning it has lost around a third of its value since the start of last week. Tesla has been one of the biggest victims of a Wall Street sell-off in recent days that continued on Tuesday after Monday’s market holiday. The tech-h
  
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• Microsoft says small Xbox S game console on the way

  08-09-2020 21:39 via uk.finance.yahoo.com
  
  Microsoft on Tuesday confirmed that it will launch a small Xbox S game console priced at $299 in November.
  
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• Markets sink after tech stocks sell-off – live updates

  08-09-2020 21:24 via uk.finance.yahoo.com
  
  Royal Mail eyes end of the six-day letters service FTSE 100 shakes off tech sell-off to close down 0.1pc at 5930.3 Asian shares follow Wall Street lower AEP: Her Majesty’s Treasury must stop its reckless austerity talk immediately Sign up here for our daily business briefing newsletter
  
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• European markets steady after global stock rout – live updates

  08-09-2020 21:24 via uk.finance.yahoo.com
  
  European markets make flat open Asian shares follow Wall Street lower AstraZeneca forced to pause vaccine trial AEP: Her Majesty’s Treasury must stop its reckless austerity talk immediately Sign up here for our daily business briefing newsletter
  
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• Peloton Bike+ review: The best at-home workout gets better

  08-09-2020 21:04 via uk.finance.yahoo.com
  
  A run of minor upgrades fix many of the problems and quirks with the original bike
  
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• First 5G iPhone expected at Apple online event Sept 15

  08-09-2020 21:01 via uk.finance.yahoo.com
  
  Apple on Tuesday fired off invitations to a September 15 online event expected to star the first iPhone tailored for superfast 5G telecom networks.
  
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• Jordan reopens main airport after six-month shutdown

  08-09-2020 20:57 via uk.finance.yahoo.com
  
  Flights resumed Tuesday at Jordan's main airport after a near six-month shutdown to stem cases of the novel coronavirus.
  
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• 'FAATMAN' tech stocks slim down by $1trn in latest sell-off

  08-09-2020 20:50 via uk.finance.yahoo.com
  
  Wall Street's "FAATMAN" group of leading tech stocks have suffered a renewed sell-off leaving $1trn wiped off their value in less than a week.
  
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• Airbus jet deliveries slip in August, stays ahead of Boeing

  08-09-2020 20:47 via uk.finance.yahoo.com
  
  Airbusdeliveries slipped in August, slowing its recovery from the coronavirus demand meltdown, but the European planemaker remained well in front of its beleaguered U.S. rival Boeing , which reported new production headaches.Airbus said it had delivered 39 jets in August, down from 49 a month earlier and slightly below the 41 in August last year.About a quarter of the deliveries were for low-cost carriers that are riding out the crisis relatively well compared to traditional rivals, such as Indi
  
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• Uber says will be 'zero emissions' by 2040

  08-09-2020 20:41 via uk.finance.yahoo.com
  
  Uber said Tuesday it intends to become a "zero emission platform" by 2040 and will seek to have all its rides by electric vehicles by 2030 in the United States, Canada and Europe.
  
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• Tunisia oil shutdown drags on as firms threaten layoffs

  08-09-2020 20:33 via uk.finance.yahoo.com
  
  Operations at blockaded oil and gas facilities in Tunisia's impoverished south have been halted for nearly two months, protesters and authorities said Tuesday, as energy firms threatened to lay off staff.
  
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• London Capital & Finance investors relieved after court ruling opens route to compensation claims

  08-09-2020 20:22 via uk.finance.yahoo.com
  
  Hope for thousands of savers who put millions into mini-bond firm that’s now the subject of a fraud investigation
  
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• Burleigh's first-ever collection has arrived

  08-09-2020 20:09 via uk.finance.yahoo.com
  
  Including a brand new pattern!
  
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• UK government admits it will break international law over Brexit treaty

  08-09-2020 20:03
  ‘This does break international law in a specific and limited way,’ says Brandon Lewis of plans to override Brexit withdrawal agreement
  
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• Boeing says new problem to delay deliveries of 787 Dreamliner

  08-09-2020 20:01 via uk.finance.yahoo.com
  
  Boeing said Tuesday it has found a new production issue that will impact deliveries of its 787 Dreamliner, in the latest blow to the aviation giant.
  
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• The red letter day for Royal Mail can't last

  08-09-2020 19:57 via uk.finance.yahoo.com
  
  The red letter day for Royal Mail can't lastParcel traffic is booming in the Covid-19 crisis but the company needs more letters posted to post more profit
  
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• Covid testing director apologises for shortage of tests in England

  08-09-2020 19:53
  Sarah-Jane Marsh admits insufficient lab capacity has created a ‘critical pinch-point’
  
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• 'Economically illiterate' to build Royal Navy supply ships abroad

  08-09-2020 19:50 via uk.finance.yahoo.com
  
  It would be “economically and industrially illiterate” for a £1.5bn contract to build new supply ships for the Royal Navy to be sent abroad, MPs have heard. A Defence Select Committee hearing on industrial and procurement policy for military equipment was warned a deal to build up to three Fleet Solid Support (FSS) ships must be awarded to British shipyards to guarantee the country’s ability to produce vessels. Garry Graham, deputy general secretary of union Prospect, sai
  
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• Uber pledges to be 100pc electric by 2040

  08-09-2020 19:43 via uk.finance.yahoo.com
  
  Uber announced a push for electrification within the next decade, as a new report shows the carbon emissions from its rides are worse than those for private cars. Last year, rides taken from its app in the US and Canada resulted in 41pc higher emissions per passenger mile, and were 39pc less efficient than the average trip taken in a private car. The majority of this impact comes from drivers who do not have any passengers and have not yet accepted a trip from a customer. Uber’s critics ha
  
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• Uber commits to all-electric vehicles as report shows trips worse than private cars for carbon emissions

  08-09-2020 19:43 via uk.finance.yahoo.com
  
  Uber announced a push for electrification within the next decade, as a new report shows the carbon emissions from its rides are worse than those for private cars. Last year, rides taken from its app in the US and Canada resulted in 41pc higher emissions per passenger mile, and were 39pc less efficient than the average trip taken in a private car. The majority of this impact comes from drivers who do not have any passengers and have not yet accepted a trip from a customer. Uber’s critics ha
  
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• Germany faces 36 billion euro shortfall in tax take by end 2024 - Handelsblatt

  08-09-2020 19:40 via uk.finance.yahoo.com
  
  German tax revenues will come in 36 billion euros (32.62 billion pounds) lower in the next five years than predicted in May, due mainly to tax changes aimed at helping Europe's biggest economy weather the coronavirus crisis, Handelsblatt daily reported on Tuesday.Citing initial calculations for the interim tax estimate, which Finance Minister Olaf Scholz will announce on Thursday, the business daily said the state will receive about 10 billion euros less next year than previously estimated.As Ge
  
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• Premier League to screen every live UK match for a month

  08-09-2020 19:35
  All 28 football fixtures in September to be shown despite fears of devaluing broadcast contracts
  
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• SAP growth focus will not be at expense of margin goals - CFO

  08-09-2020 19:32 via uk.finance.yahoo.com
  
  German business software groupwill under new CEO Christian Klein pursue growth but in so doing has no intention of sacrificing its goal of expanding margins over the medium term, a senior executive said on Tuesday.Analysts have perceived a renewed focus on growth since Klein assumed sole leadership at SAP earlier this year, but Chief Financial Officer Luka Mucic restated its mid-term margin goals.SAP's five-year strategy to 2023 foresees expanding margins by five percentage points, as the group
  
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• Rio Tinto CEO's fate in balance as board to meet after blasting of Aboriginal site

  08-09-2020 19:30 via uk.finance.yahoo.com
  
  Rio Tinto CEO's fate in balance as board to meet after blasting of Aboriginal site. Investor pressure increases over mining company’s destruction of two 46,000-year-old caves at Juukan Gorge
  
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• What do businesses want if there is a no-deal Brexit?

  08-09-2020 19:20 via uk.finance.yahoo.com
  
  As Britain's trade talks with the European Union edge closer to collapse, the Chancellor's autumn headache swells. The Budget will need to deal with a Covid-19 jobs crisis that is expected when the furlough scheme ends in October, as well as cushioning the blow to businesses hit by higher tariffs and non-tariff barriers if Britain trades with the EU on World Trade Organisation terms - the chances of which are rising by the day. David Gauke, the former cabinet minister and critic of the current a
  
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• Business calls for Covid-style backing in the face of a no-deal Brexit

  08-09-2020 19:20 via uk.finance.yahoo.com
  
  As Britain's trade talks with the European Union edge closer to collapse, the Chancellor's autumn headache swells. The Budget will need to deal with a Covid-19 jobs crisis that is expected when the furlough scheme ends in October, as well as cushioning the blow to businesses hit by higher tariffs and non-tariff barriers if Britain trades with the EU on World Trade Organisation terms - the chances of which are rising by the day. David Gauke, the former cabinet minister and critic of the current a
  
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• Iceland hires 3,000 staff in fight for slice of online market

  08-09-2020 19:18 via uk.finance.yahoo.com
  
  Frozen food chain Iceland is the latest retailer to go on a hiring spree to cope with the boom for online groceries since lockdown was imposed. The supermarket is planning to recruit 3,000 delivery drivers and extra staff in store to help pick online orders. The retailer also unveiled a tie-up with UberEats that allows shoppers to order food from Iceland through the takeaway firm’s app. If the move is successful, it will be expanded beyond London. It mirrors similar arrangements at Marks &
  
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• EU carbon market not the right policy for cars, bloc's climate chief says

  08-09-2020 19:11 via uk.finance.yahoo.com
  
  Road transport should not be top of the list when the European Union expands its carbon market into new sectors, the bloc's climate policy chief said on Tuesday.The European Commission will propose reforms to its carbon market next year, and has mooted the idea of extending the scheme, which forces some companies to buy permits to cover their pollution, into areas such as shipping, buildings and road transport."We're certainly willing to look into this as a possibility, but at this stage, I pers
  
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• Deloitte eyes sale of restructuring arm

  08-09-2020 18:55 via uk.finance.yahoo.com
  
  Deloitte is eyeing the sale of its restructuring arm despite booming demand for insolvency services, as the Big Four consulting firms grapple with a crackdown by regulators. The accounting behemoth is said to be holding talks over a management buyout of the unit, which has around 350 staff and has been busy advising retailers facing disaster due to the coronavirus downturn. It comes as the country's biggest players prepare to split their audit operations from the rest of their business in an eff
  
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• Pound pummelled on latest Brexit tack

  08-09-2020 18:53 via uk.finance.yahoo.com
  
  Oil prices and the pound slumped Tuesday as markets mulled global demand prospects and heightened Brexit tension.
  
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• Why Boris Johnson is considering a no-deal Brexit for a bruised economy

  08-09-2020 18:52
  In order to have a more activist state, the UK risks making exports to its biggest market more expensive
  
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• Electric bike and scooter sales boom spurs Halford back to growth

  08-09-2020 18:51 via uk.finance.yahoo.com
  
  Electric bike and scooter sales boom spurs Halford back to growth. Sales more than triple on e-bikes and scooters as commuters steer clear of public transport amid Covid-19 crisis
  
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• Ryanair lands $1 billion as European airline bonds begin to take off

  08-09-2020 18:46 via uk.finance.yahoo.com
  
  Ryanairsold an 850 million euro (768.64 million pounds) bond on Tuesday, its first in three years, in a sign that European debt markets are starting to reopen to airlines, which were crippled by the coronavirus crisis.Investors put in 4.4 billion euros of orders for the bond, more than five times the amount Ryanair was seeking to raise, a lead manager memo seen by Reuters showed.Ryanair's balance sheet, one of the strongest in the industry with more than 3.9 billion euros of cash at June 30 and
  
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• Apple to hold 'Time Flies' launch event online on September 15

  08-09-2020 18:42 via uk.finance.yahoo.com
  
  Apple has sent its invitations to a highly-anticipated September 15 launch event where the company is widely expected to unveil its latest Apple Watch. The event will be held online with a livestream from its headquarters in Cupertino, California available from 10am PT (6pm BST). The tech giant usually holds its annual product launch event in September to showcase the latest iterations of its iPhones, iPads and watches. This year, the company is expected to announce as many as four new versions
  
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• Telescope scans 10 million star systems for aliens in historic search – and finds nothing

  08-09-2020 18:38 via uk.finance.yahoo.com
  
  Astronomers have launched a historic search for life elsewhere in the universe, scanning through 10 million star systems – and turning up nothing.The search, which the researchers claim was broader than any before, looked through a patch of the universe in the hope of finding radio emissions that could be coming from an intelligent source.It used the Murchison Widefield Array, or MWA, a large telescope located in the outback of Western Australia.
  
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• British Airways owner IAG suffers revolt over Willie Walsh's pay

  08-09-2020 18:31 via uk.finance.yahoo.com
  
  A fifth of shareholders in British Airways parent IAG have voted against the £3.2m salary and bonus for outgoing chief executive Willie Walsh. IAG’s annual meeting saw a 20.6pc vote against Mr Walsh’s remuneration package, which includes an £833,000 annual bonus and a potential future £5.2m payout in shares. A further 7.8pc of shareholders withheld their votes. Although IAG’s remuneration report was approved, the company said it was “disappointed”
  
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• Uber pledges to be all-electric across UK by 2030

  08-09-2020 18:24 via uk.finance.yahoo.com
  
  This is part of a commitment covering the company's operations in Europe, the US and Canada.
  
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• PUBG could be unbanned in India as Fortnite rival ends partnership with Chinese owner

  08-09-2020 18:24 via uk.finance.yahoo.com
  
  The actions of the Indian government have been referenced in executive orders issued by President Trump
  
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