Business news

• US stocks resume downward slide as sterling falls further

  10-09-2020 23:56 via uk.finance.yahoo.com
  
  Wall Street stocks resumed their downward slide Thursday, while the pound dropped further amid a fight between Britain and the European Union on Brexit legislation.
  
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• Elliott's Cohn steps off eBay board, two newcomers join

  10-09-2020 23:51 via uk.finance.yahoo.com
  
  Elliot Management is giving up its board seat at eBay Inc , the company said on Thursday, less than two years after laying out a blueprint for improvements at the ecommerce company that included divestitures and led to a doubling of the stock price.Elliott partner Jesse Cohn, who runs the hedge fund's U.S. activism practice, resigned his seat 18 months after joining the group on March 1, 2019 as part of a settlement that gave Elliott and another activist hedge fund a bigger say in the company's
  
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• BHP forms heritage body after being given permission to destroy at least 40 Aboriginal sites

  10-09-2020 23:44 via uk.finance.yahoo.com
  
  BHP forms heritage body after being given permission to destroy at least 40 Aboriginal sites. Heritage advisory council with Banjima native title holders will inform design of $4.5bn South Flank iron ore mining operation
  
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• UK must intervene in Nvidia deal for Arm, says Labour

  10-09-2020 23:30
  Opposition calls on government to secure chip designer’s British headquarters and jobs
  
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• Labour calls for UK jobs guarantee in potential Arm sale to Nvidia

  10-09-2020 23:30 via uk.finance.yahoo.com
  
  Labour calls for UK jobs guarantee in potential Arm sale to Nvidia. Government urged to intervene to ensure US buyer does not move microchip firm’s HQ
  
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• NFL player among fraudsters accused of stealing $70 mn in pandemic aid

  10-09-2020 23:07 via uk.finance.yahoo.com
  
  Scammers have stolen $70 million from a program supporting US businesses hurt by the coronavirus downturn, leading to charges against dozens of people including an NFL player, the Justice Department said on Thursday.
  
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• Coronavirus: Portugal back on England's quarantine list

  10-09-2020 22:59 via bbc.co.uk
  
  Travellers arriving in England from mainland Portugal must self-isolate for two weeks from Saturday.
  
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• Russia, China hackers targeting US vote, Microsoft warns

  10-09-2020 22:56 via uk.finance.yahoo.com
  
  Microsoft said Thursday it had thwarted recent cyberattacks from China, Russia and Iran targeting both Republican and Democratic presidential campaigns, as technology giants scrambled to protect election security less than two months ahead of the US vote.
  
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• Russian hackers behind Hillary Clinton campaign hack return to target Trump and Biden

  10-09-2020 22:44 via uk.finance.yahoo.com
  
  The hackers who targeted Hillary Clinton's 2016 presidential campaign are attempting to disrupt the US election again, Microsoft has said. The software company said it had detected a series of attempted cyber attacks on people involved in the Trump and Biden campaigns, including some by the notorious Russian military group known as Fancy Bear, which Microsoft code-names Strontium. Political parties in the UK and Europe have also been targeted by the group, which has changed its tactics since 201
  
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• Russian hackers behind Hillary Clinton campaign attack return to target Donald Trump and Joe Biden

  10-09-2020 22:44 via uk.finance.yahoo.com
  
  The hackers who targeted Hillary Clinton's 2016 presidential campaign are attempting to disrupt the US election again, Microsoft has said. The software company said it had detected a series of attempted cyber attacks on people involved in the Trump and Biden campaigns, including some by the notorious Russian military group known as Fancy Bear, which Microsoft code-names Strontium. Political parties in the UK and Europe have also been targeted by the group, which has changed its tactics since 201
  
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• Citigroup's Jane Fraser first woman to break Wall Street's glass ceiling

  10-09-2020 22:13 via uk.finance.yahoo.com
  
  Citigroup's Jane Fraser will become the first woman to lead a major Wall Street firm after the banking giant on Thursday picked her as its next chief executive.
  
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• Renting: Christmas 'truce' for tenants facing eviction

  10-09-2020 21:59 via bbc.co.uk
  
  The housing secretary says evictions will not be permitted over the festive period.
  
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• Rio Tinto chair may want to rethink position over heritage site destruction

  10-09-2020 21:22 via uk.finance.yahoo.com
  
  Rio Tinto chair may want to rethink position over heritage site destructionNot only mining group’s CEO Jean-Sébastien Jacques should fear for job when board rethinks response
  
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• Amazon accused of price gouging on soap and sanitiser during pandemic

  10-09-2020 21:08 via uk.finance.yahoo.com
  
  Amazon has been accused of coronavirus "price gouging" after a consumer watchdog found prices for life-saving items such as face masks and hand sanitiser had soared by up to 1,000pc during the pandemic. A report by the American non-profit group Public Citizen named 15 essential products listed as being sold directly by Amazon that had become drastically more expensive for weeks at a time. A pack of disposable gloves had sold at 336pc their usual price, while toilet paper had jumped by 528pc and
  
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• UK economy grew 6.6pc in July as rebound continued – live updates

  10-09-2020 21:06 via uk.finance.yahoo.com
  
  UK GDP figures set to show pace of economic comeback in July US markets fell sharply on Thursday The pound hit a six-month low agains the euro yesterday Rio Tinto boss steps down after blasts scandal Ryan Bourne: Johnson’s ‘moonshot’ testing plan is best idea yet Sign up here for our daily business briefing newsletter
  
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• July growth figures to reveal pace of UK recovery – live updates

  10-09-2020 21:06 via uk.finance.yahoo.com
  
  UK GDP figures set to show pace of economic comeback in July US markets fell sharply on Thursday The pound hit a six-month low agains the euro yesterday Rio Tinto boss steps down after blasts scandal Ryan Bourne: Johnson’s ‘moonshot’ testing plan is best idea yet Sign up here for our daily business briefing newsletter
  
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• Travellers arriving in England from Portugal face quarantine

  10-09-2020 20:54
  Hungary is also taken off the UK government’s list of safe countries
  
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• British executive named first female Wall Street bank boss

  10-09-2020 20:53 via uk.finance.yahoo.com
  
  Scottish-born Citigroup executive Jane Fraser is to become the first woman to lead a Wall Street bank after being announced as the firm's next boss.
  
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• UK financial watchdog’s probes taking longer and costing more

  10-09-2020 20:47
  Despite a high caseload, only 15 investigations resulted in fines in 2019-20
  
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• Vinyl sales surpass CD revenue, first time since 1980s

  10-09-2020 20:34 via uk.finance.yahoo.com
  
  Vinyl records are outselling compact discs in the United States for the first time in more than 30 years, according to an industry report released Thursday.
  
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• Johnson’s lawbreaking Brexit plan leaves trade talks in balance

  10-09-2020 20:32
  Prime minister facing intense pressure from Brussels and own Tory party to scrap bill overwriting Irish border deal
  
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• Shares in hydrogen truck maker Nikola slump after claims company is an 'intricate fraud'

  10-09-2020 20:27 via uk.finance.yahoo.com
  
  A $14bn Tesla rival developing hydrogen and electric trucks has been accused of misleading investors in an "intricate fraud", just days after General Motors took an 11pc stake in the company. Shares in Nikola fell 12pc after Hindenburg Research released a 15,000-word report accusing the truck company, which went public earlier this year, of being built on “an ocean of lies” and criticising founder Trevor Milton for overplaying his company’s achievements and technology. Nikola s
  
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• Twitter may remove unverified election result claims

  10-09-2020 20:25 via uk.finance.yahoo.com
  
  Twitter said Thursday it may remove unverified postings claiming electoral victory as part of a stepped-up effort to protect democracy, less than two months ahead of the US presidential vote.
  
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• Euronext offers Rome concessions to win Borsa Italiana - sources

  10-09-2020 20:01 via uk.finance.yahoo.com
  
  French stock exchange operator Euronexthas made Rome a key ally in its bid plan to take over Borsa Italiana, granting Italian state lender CDP significant influence in the combined business, sources familiar with the matter told Reuters.CDP is set to take a stake of around 8% in Euronext, equalling that held by French state investor Caisse des Depots et Consignations, the sources said, speaking on condition of anonymity.Italian bank Intesa Sanpaolohas also teamed up with CDP to safeguard Italian
  
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• Tesla launches fast electric car charging in Berlin, says more cities to come

  10-09-2020 19:40 via uk.finance.yahoo.com
  
  Managers at electric carmaker Tesla Incon Thursday demonstrated new supercharger equipment on a Berlin research campus, saying they were looking at more target cities to attract potential buyers worried about access to charging."Now, as part of our commitment to make Tesla ownership easy and convenient for everyone including those without immediate access to home or workplace charging, we are expanding out supercharging network into city centres," said Jeroen van Tilburg, manager Europe of charg
  
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• Anne Mohyuddin obituary

  10-09-2020 19:31 via uk.finance.yahoo.com
  
  Anne Mohyuddin obituary
  
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• Jobseeker cut will leave 80% skipping meals, survey finds

  10-09-2020 19:30 via uk.finance.yahoo.com
  
  Jobseeker cut will leave 80% skipping meals, survey findsScrapping Covid welfare supplement will also force many people to go without medicine or other essentials, Acoss research suggests
  
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• Britain’s dangerous Brexit brinkmanship

  10-09-2020 19:26
  The mooted state aid approach is misguided and interventionist
  
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• Why it's time to upgrade your grooming routine for the return to work (and recession proof your face)

  10-09-2020 19:22 via uk.finance.yahoo.com
  
  There was a moment, around week six of the lockdown, where I no longer recognised myself. Like most of us, I started out with the best intentions - morning run, crisp shirt, cleanly shaven and keen as mustard on the Zoom calls with the office. Six weeks in, the hair was a shaggy mop, the jawline scruffier, the shirt swapped for a hole-strewn hoodie and that enthusiastic sparkle somewhat dimmed. Even the most upright of us have allowed standards to slip, and there’s no shame in that - it&rs
  
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• UK rejects EU call to back down over Brexit bill

  10-09-2020 19:13 via uk.finance.yahoo.com
  
  Britain's government on Thursday defied threats from the European Union of legal action over contentious Brexit legislation, and pushed back against a brewing revolt within its own ranks for violating a binding treaty.
  
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• Maserati aim to fuel sales with new supercar, electrics

  10-09-2020 19:13 via uk.finance.yahoo.com
  
  Sports car maker Maserati is firing up a major push to revive the iconic Italian brand's flagging fortunes, this week unveiling a new supercar and new electric models aimed at pleasing millennials.
  
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• Boris Johnson’s government is right to protect integrity of UK

  10-09-2020 19:12
  Allowing tariffs on goods crossing the Irish Sea would undermine the Good Friday Agreement
  
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• Questor: the virus made us reinvent our Income Portfolio. Did it work?

  10-09-2020 19:08 via uk.finance.yahoo.com
  
  We turned our Income Portfolio on a sixpence in the spring when the pandemic led to a series of dividend cancellations and threatened further damage to the income generated by our holdings. Now that several months have passed, let’s look at whether the changes we made then have benefited our portfolio. What we sold, what we bought To recap, on April 17 we sold ULS Technology, Renew Holdings, OneSavings Bank and Crest Nicholson, all of which had scrapped their dividends, as well as Ten Ente
  
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• McLaren plans to sell then lease back Woking HQ after sales slump

  10-09-2020 19:03 via uk.finance.yahoo.com
  
  McLaren plans to sell then lease back Woking HQ after sales slumpGroup hopes to free up £200m from sale of complex designed by Norman Foster* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Crackdown on gatherings 'could wreck back to work plans'

  10-09-2020 19:01 via uk.finance.yahoo.com
  
  The latest Covid crackdown on socialising could wreck hopes of a mass return to the office before Christmas, analysts and economists have warned. Experts said that a ban on gatherings of over six people could hit businesses trying to encourage staff to back in, even though workplaces are exempt. Ministers are facing accusations of mixed messages after weeks spent encouraging a return to the workplace. Several firms including Goldman Sachs and JP Morgan are bringing workers back on a rota system.
  
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• Euro rises as Brexit row batters punch drunk pound

  10-09-2020 18:54 via uk.finance.yahoo.com
  
  A punch drunk pound plunged on Brexit woes and a buoyant euro soared Thursday as ECB head Christine Lagarde forecast the eurozone's coronavirus downturn would be less severe than feared.
  
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• UK’s new Covid-19 curbs pose risk to recovery, warn restaurants

  10-09-2020 18:51
  Fearful hospitality sector believes momentum fuelled by chancellor’s eating-out scheme will be lost
  
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• Winchester bus crash: ‘I heard lots of screaming’

  10-09-2020 18:50 via uk.finance.yahoo.com
  
  A double-decker school bus crashed into a railway bridge in Winchester on Thursday morning, shearing off the roof. Caroline Coates said that she “heard lots of screaming”, and that her son Jake, who was on the bus, described the crash as “like an explosion”.
  
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• Bonuses for UK regulators on ice pending report on collapsed fund

  10-09-2020 18:44 via uk.finance.yahoo.com
  
  Britain's Financial Conduct Authority (FCA) said on Thursday it has deferred annual bonuses for top officials until a report on its handling of collapsed London Capital & Finance (LCF) investment fund has been issued.LCF went into administration in early 2019 with 11,600 investors hit with losses totalling up to 237 million pounds.The FCA was ordered by Britain's finance ministry to carry out an independent investigation into the circumstances surrounding the demise of LCF.
  
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• Volkswagen's Skoda Auto aims to shift some production, union says

  10-09-2020 18:40 via uk.finance.yahoo.com
  
  Volkswagen'sCzech unit Skoda Auto plans to shift production of some high-earning models to other VW group plants in other countries, the carmaker's trade union boss said in an article on Thursday.Skoda is the central European country's biggest exporter, but its success has sometimes caused friction within Volkswagen, whose labour boss has accused it of cannibalising sales.Jaroslav Povsik, Skoda's trade union chairman and supervisory board member, said the company planned to moveproduction of the
  
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• Citi names Jane Fraser new chief in Wall Street first

  10-09-2020 18:16 via bbc.co.uk
  
  Scotland-born Jane Fraser is named new chief executive of Citigroup, the first woman to run a big US bank.
  
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• Exclusive: ECB governors agreed to look through euro rise - sources

  10-09-2020 18:14 via uk.finance.yahoo.com
  
  European Central Bank policymakers agreed on Thursday to look through the euro's appreciation, judging it was broadly in line with economic fundamentals and fearing any hint of a "currency war" with the United States, four sources at the meeting said.ECB President Christine Lagarde said the exchange rate had been discussed extensively and would be carefully monitored -- a statement that sent the eurorallying to $1.1916 as investors saw it as unexpectedly timid.Four sources on the ECB's Governing
  
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• Lagarde retreats from currency war, accepting deflation as the euro spirals higher

  10-09-2020 18:05 via uk.finance.yahoo.com
  
  The European Central Bank has dashed hopes of fresh stimulus to buttress the faltering recovery and to restrain the surging euro, sending the single currency rocketing higher against sterling, the dollar, and the yuan. The relentless rise of the euro is pushing large parts of the eurozone into a Japanese deflation trap, threatening a fresh banking crisis and playing havoc with debt dynamics in a string of vulnerable countries already reeling from the shock of Covid-19. Christine Lagarde, the ECB
  
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• EU tells UK to back down over Brexit bill, or else

  10-09-2020 17:51 via uk.finance.yahoo.com
  
  The European Union on Thursday demanded Britain withdraw contentious Brexit legislation or face legal reprisals, heaping pressure on Prime Minister Boris Johnson's government as a revolt brewed within its own ranks for violating a binding treaty.
  
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• Premier League hit back over Newcastle takeover bid claim

  10-09-2020 17:39 via uk.finance.yahoo.com
  
  The Premier League have slammed Newcastle's claim that the organisation rejected a Saudi Arabia-backed bid to buy the troubled club.
  
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• EasyJet pilots agree to go part time to escape redundancy

  10-09-2020 17:39 via uk.finance.yahoo.com
  
  EasyJet pilots look to have avoided compulsory redundancies after volunteering for new contracts that will see many of them go part time. The budget airline had warned it could sack more than 700 pilots – almost a third of the total – as it had to make severe cuts in the face of plummeting demand for air travel because of coronavirus. Last month the Telegraph revealed easyJet was offering seasonal contracts to pilots that included them flying for just six months with the rest of the
  
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• 'I've been paid £500 for spotting derelict properties - with thousands to come'

  10-09-2020 17:38 via uk.finance.yahoo.com
  
  A chronic shortage of housing is driving property developers to desperate measures. In London, where the crisis is worst, the number of properties currently for sale is around half the long-term average. This is driving up prices and causing a scramble among owner-occupiers and investors. The radical solution adopted by one firm is to pay people for providing "tip-offs" about potential investments: rundown or derelict properties whose owner might be persuaded to sell. This means buyers can avoid
  
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• Market report: Investors make Games Workshop play

  10-09-2020 17:36 via uk.finance.yahoo.com
  
  Orcs, elves and space marines proved lockdown winners as investor darling Games Workshop predicted expectation-beating results. The FTSE 250 group jumped £10.25 to £97.50 after declaring a 50p-per-share dividend following strong trading over the past three months. The Nottingham-based company – which makes the Warhammer tabletop battle games – predicted sales of £90m for the period, versus £78m in 2019, alongside an operating profit of £45m (versus 2019&
  
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• Man throws acid and chops off partner's hand after break up

  10-09-2020 17:31 via ibtimes.co.uk
  
  The absconding man was found and jailed over a year after he committed the horrific crime.
  
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• ECB holds fire but 'carefully monitoring' euro's rise

  10-09-2020 17:28 via uk.finance.yahoo.com
  
  The European Central Bank is carefully monitoring the euro's recent rise, president Christine Lagarde said Thursday, as she warned that the eurozone's recovery remained mired in uncertainty over the pandemic.
  
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