Business news

• The pandemic purse: services suffer while Australians spend up on home-cooking and liquor

  12-09-2020 22:00 via uk.finance.yahoo.com
  
  The pandemic purse: services suffer while Australians spend up on home-cooking and liquorOver all Australians are spending less money, but analysts say the post-Covid states show this could quickly change
  
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• Regardless of Covid restrictions, if people are dying in large numbers your economy is stuffed

  12-09-2020 22:00 via uk.finance.yahoo.com
  
  Regardless of Covid restrictions, if people are dying in large numbers your economy is stuffedThe discussion (in certain quarters) about how much money each life is worth is morbid – and generally ignorant * Sign up for Guardian Australia’s coronavirus email* A day in the life of Victoria’s Covid contact-tracers
  
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• Trump nominee elected to head Latin American development bank

  12-09-2020 21:12 via uk.finance.yahoo.com
  
  U.S. President Donald Trump's nominee on Saturday was elected president of the Inter-American Development Bank, the region's main economic development lender, making him the first U.S. citizen to lead the institution in its 61-year history.Mauricio Claver-Carone, Trump's senior Latin America adviser, told the bank's governors before voting began that he would be "a passionate advocate" for the bank, its staff and the region.Trump's decision to nominate a U.S. candidate to head the bank broke wit
  
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• NBA Eastern Conference Semifinals: A pair of rare upsets

  12-09-2020 20:46 via ibtimes.co.uk
  
  Favourites Milwaukee Bucks and Toronto Raptors were both handed early exits.
  
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• US Open 2020: Alexander Zverev vs. Dominic Thiem in the men's singles final

  12-09-2020 20:29 via ibtimes.co.uk
  
  A new Grand Slam champion will be crowned for the first time since Marin Cilic won the US Open in 2014.
  
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• RBS altered customers’ files ahead of independent review into swaps mis-selling, documents show

  12-09-2020 19:42 via uk.finance.yahoo.com
  
  Bank routinely took out millions of credit in its customers’ names without telling them, to cover losses on products the bank had recommended, yet regulators failed to take action
  
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• SoftBank nears deal to sell Arm Holdings to Nvidia for more than $40 billion - WSJ

  12-09-2020 19:39 via uk.finance.yahoo.com
  
  The cash-and-stock deal could be sealed early next week and would value Arm in the low $40 billions, the Journal report said.The terms would mark a big win for SoftBank, which bought Arm for $32 billion in 2016 and had struggled to jump-start growth in the business, the report added.
  
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• Nvidia nears deal to buy chip designer Arm for more than $40 billion - sources

  12-09-2020 19:39 via uk.finance.yahoo.com
  
  A cash and stock deal for Arm could be announced as early as next week, the sources said.Nvidia is known for its graphics chips that power video games, but it has developed other markets including artificial intelligence, self-driving cars and data centers.Arm supplies the chip technology for virtually all mobile devices such as phones and tablets but is also expanding into processors for cars, datacenter services and other devices.
  
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• Franchises to be scrapped as lockdown rail costs rise

  12-09-2020 19:23 via uk.finance.yahoo.com
  
  Ministers are ready to seize control of the railways after more than a quarter of a century of private ownership. Franchises launched under John Major in the mid-Nineties will be ripped up and replaced by fixed-fee contracts from April, Whitehall proposals seen by The Sunday Telegraph reveal. Under emergency measures, train operators such as South Western Railway and c2c serving commuters in the South East have been supported with more than £3.5bn in taxpayer funding since the pandemic str
  
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• Greek PM announces tax relief to boost employment, ups defence spending

  12-09-2020 19:11 via uk.finance.yahoo.com
  
  Greece's Prime Minister Kyriakos Mitsotakis on Saturday announced a tax relief package to boost jobs amidst a downturn caused by the coronavirus pandemic, as well as rise in spending to strengthen the country's defence capabilities.At his annual economic address in the northern city of Thessaloniki, Mitsotakis said his conservative government will end real estate tax in 26 islands and lower social security charges for workers and employers.
  
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• Rishi Sunak plans massive business tax breaks to spur investment

  12-09-2020 18:48 via uk.finance.yahoo.com
  
  Rishi Sunak is considering a multi-billion pound tax cut to encourage big companies to invest in machinery and factories as part of his bid to jump-start the economy after the damage wrought by Covid-19. The Chancellor is understood to be studying plans to give firms a full tax break on capital investment, such as technology, machinery and industrial premises, allowing them to immediately deduct the costs from their bills. Senior Tories believe such a move could encourage investment among firms
  
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• Plain sailing for Moulding with flotation of Hut Group

  12-09-2020 17:38 via uk.finance.yahoo.com
  
  For practising cynics, BBC 2’s excellent recent documentary series Manctopia: Billion Pound Property Boom had a Hitchcockian tone. It chronicles the froth (and consequent hardships) of central Manchester’s recent glitzy renaissance, and was filmed before the pandemic. Viewed through Covid-tinted lenses, the sense of suspense and a coming economic horror is unavoidable. Except, presumably, for Matt Moulding, founder, chief executive, chairman and lord protector of The Hut Group, a com
  
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• Brexit: Key facts ahead of next week's talks

  12-09-2020 17:28 via uk.finance.yahoo.com
  
  The UK and EU have been locked in a tussle over more controversial elements of the Internal Market Bill, which is due to be debated in parliament for the first time on Monday.
  
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• Twenty years after the dotcom crash, is tech’s bubble about to burst again?

  12-09-2020 17:00 via uk.finance.yahoo.com
  
  Twenty years after the dotcom crash, is tech’s bubble about to burst again?Dramatic swings in stock prices are causing serious alarm – but these huge companies are no longer fragile startups
  
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• Tax rises and austerity are not the way to shore up post-pandemic growth

  12-09-2020 17:00 via uk.finance.yahoo.com
  
  Tax rises and austerity are not the way to shore up post-pandemic growthBoris Johnson’s government has competing priorities, and no clear message, on economic policy
  
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• Clashes over Tory plan to seed the UK's next Apple with state aid

  12-09-2020 17:00 via uk.finance.yahoo.com
  
  Clashes over Tory plan to seed the UK's next Apple with state aidPost-Brexit bid to boost innovation is troubling Conservatives with its socialist overtones, and exasperating Brussels
  
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• Astrazeneca says trials of COVID vaccine resuming

  12-09-2020 16:01 via uk.finance.yahoo.com
  
  British clinical trials for the AstraZeneca and Oxford University coronavirus vaccine have resumed following confirmation by the Medicines Health Regulatory Authority (MHRA) that it was safe to do so, the company said on Saturday.The late-stage trials of the experimental vaccine, one of the most advanced in development, were suspended this week after an illness in a study subject in Britain."The standard review process triggered a voluntary pause to vaccination across all global trials to allow
  
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• AstraZeneca resumes UK trials of COVID-19 vaccine halted by patient illness

  12-09-2020 16:01 via uk.finance.yahoo.com
  
  AstraZenecahas resumed British clinical trials of its COVID-19 vaccine, one of the most advanced in development, after getting the green light from safety watchdogs, the company said on Saturday.The late-stage trials of the experimental vaccine, developed with researchers from the University of Oxford, were suspended this week after an illness in a study subject in Britain, casting doubts on an early rollout."On 6 September, the standard review process triggered a voluntary pause to vaccination
  
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• AstraZeneca resumes trials of COVID vaccine halted by patient illness

  12-09-2020 16:01 via uk.finance.yahoo.com
  
  AstraZenecahas resumed British clinical trials of its COVID-19 vaccine, one of the most advanced in development, after receiving the green light from safety watchdogs, the company said on Saturday.The late-stage trials of the experimental vaccine, developed with researchers from the University of Oxford, were suspended this week after an illness in a study subject in Britain, casting doubts on an early rollout."On 6 September, the standard review process triggered a voluntary pause to vaccinatio
  
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• Building strong relationships in offices is crucial for SMEs and young professionals to thrive, Proper founder warns

  12-09-2020 15:50 via uk.finance.yahoo.com
  
  Building strong relationships and working together in offices is crucial for fast-growing businesses and young professionals, the founder of UK snack brand Proper has warned.Cassandra Stavrou, who started the company in the wake of the 2008 financial crisis, said they have grown through two recessions because of their resilient workplace relationships.
  
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• A return to the skies: Boeing 737 Max training review to begin after it completes test flights

  12-09-2020 15:21 via uk.finance.yahoo.com
  
  The 737 Max has been grounded globally since March 2019, following two fatal crashes, that took the lives of 346 people.
  
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• Everything you need to know about UK housing right now

  12-09-2020 14:32 via uk.finance.yahoo.com
  
  UK government announced a shakeup of the shared ownership scheme, while news filtered through from estate agents and surveyors about “unaffordable” house prices across the country.
  
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• Imagination Technologies adds ex-BT chief to board in bid to quell concerns over Beijing's influence

  12-09-2020 14:20 via uk.finance.yahoo.com
  
  British chip designer Imagination Technologies is adding the former chief executive of BT and ICL plc to its board in an effort to allay fears over growing Chinese influence over the company. Sir Peter Bonfield, a technology veteran who is currently chairman of Netherlands-based semiconductor firm NXP and a director of Taiwan's TSMC in Taiwan, will be joining Imagination as a non-executive director, in news to be announced on Monday. Sir Peter is expected to be the first of a number of non-execu
  
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• No-deal Brexit would hurt Britain more than EU - Germany's Scholz

  12-09-2020 14:00 via uk.finance.yahoo.com
  
  A "no-deal" Brexit would hurt the British economy a lot more than the European Union, German Finance Minister Olaf Scholz said on Saturday."My assessment is that an unregulated situation would have very significant consequences for the British economy," Scholz told a news conference after a meeting of EU finance ministers in Berlin.Prime Minister Boris Johnson said on Saturday that a planned bill, which would breach a divorce treaty with the bloc, was needed to protect Britain's integrity.
  
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• ECB does not target the exchange rate, but it is an important variable - de Guindos

  12-09-2020 13:45 via uk.finance.yahoo.com
  
  The European Central Bank does not target the euro exchange rate in its policy, but it is an important variable and the bank monitors it when assessing the effects on price stability, European Central Bank vice president Luis de Guindos said.De Guindos was answering a question on the appreciation of the euro exchange rate at a press conference after of European Union finance ministers in Berlin.
  
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• European economy is recovering better than we had feared - Scholz

  12-09-2020 13:37 via uk.finance.yahoo.com
  
  The European economy is recovering much better than many had feared at the beginning of the COVID-19 pandemic, German Finance Minister Olaf Scholz said on Saturday, adding that governments should nonetheless continue to support companies and consumers."The pandemic is not over, but the indicators ... show that the economy is recovering much better than we feared some time ago, and that is something that applies to the European Union as a whole but also to the individual member states," Scholz to
  
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• Coronavirus: Grocery shopping and staycations boost UK spending

  12-09-2020 13:24 via uk.finance.yahoo.com
  
  The number of transactions returned to similar levels seen last year, down just 2.4%, as Brits embarked on staycations and gradually started returning to workplaces.
  
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• iPhone 12 Pro: New leak claims to show body of new Apple handset

  12-09-2020 13:14 via uk.finance.yahoo.com
  
  A new leak claims to reveal what the upcoming iPhone 12 Pro will actually look like.A video of the chassis part of the phone, posted on Twitter, gives what might be a first look at the handset.Apple almost always introduces its new phones in mid-September, and next week would traditionally be the time for the Apple event.
  
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• Xbox Series S: Microsoft secretly revealed new console months before it was officially released

  12-09-2020 13:04 via uk.finance.yahoo.com
  
  Microsoft secretly revealed the Xbox Series S, hiding it in plain sight – but nobody noticed, it has revealed.The console was shown off this week, after a series of leaks forced Microsoft to officially unveil it.The console had appeared during an interview between Phil Spencer, head of Xbox, and journalist Seth Schiesel.
  
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• Shed quarters: how to set up an office in your garden

  12-09-2020 13:00 via uk.finance.yahoo.com
  
  Shed quarters: how to set up an office in your gardenWith no letup from Covid in sight, we look at how you can get more work space at home
  
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• Take your threats off the table, Johnson tells EU in trade row

  12-09-2020 12:36 via uk.finance.yahoo.com
  
  Prime Minister Boris Johnson told the European Union not to threaten Britain on Saturday, saying a bill which would breach a divorce treaty with the bloc was needed to protect the country's integrity.With the EU stepping up planning for talks on trade to end without a deal, Johnson has accused its negotiators of threatening to impose a food blockade between mainland Britain and Northern Ireland."Let's make the EU take their threats off the table", Johnson said on Twitter.
  
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• Coronavirus: Underperforming 'dog' funds hit record levels

  12-09-2020 12:13 via uk.finance.yahoo.com
  
  Wealth manager Tilney’s annual report of “dog” funds — ones that underperformed indexes — showed a 65% increase from the 91 funds in its last report. This is the highest number on record.
  
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• Coronavirus: Underperforming 'dog' funds break £54bn mark

  12-09-2020 12:13 via uk.finance.yahoo.com
  
  Wealth manager Tilney’s annual report of “dog” funds — ones that underperformed indexes — showed a 65% increase from the 91 funds in its last report. This is the highest number on record.
  
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• Brexit, jobs and GDP rebound: How the UK economy fared this week

  12-09-2020 12:12 via uk.finance.yahoo.com
  
  The pound had a tumultuous week, dropping to six-month lows against the euro and sliding sharply against the US dollar after UK-EU Brexit talks tensions.
  
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• Neymar seals Puma sponsorship deal

  12-09-2020 12:09 via uk.finance.yahoo.com
  
  Neymar has sealed an endorsement deal with Puma, the German company announced on Saturday, two weeks after the Brazilian superstar left his long-time sponsor Nike.
  
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• RBS altered customers' files ahead of independent review into swaps mis-selling, documents show

  12-09-2020 12:04 via uk.finance.yahoo.com
  
  Royal Bank of Scotland employees altered customers’ files ahead of an independent review into mis-selling of toxic interest-rate hedging products – potentially helping the bank to avoid paying millions in compensation, documents reveal.The files related to interest-rate swaps which the bank said would protect clients against rising rates.Instead, the bank generated huge profits and then, as rates plummeted, customers were saddled with crippling debts that in many cases led to bankrup
  
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• ‘It turns out the man charms, banters and schmoozes for a living’: what dual home working reveals about your partner

  12-09-2020 12:00 via uk.finance.yahoo.com
  
  ‘It turns out the man charms, banters and schmoozes for a living’: what dual home working reveals about your partner. What do they really do all day? Three writers find out
  
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• Apple event 2020: Everything likely to be announced at major launch, including Apple Watch, new iPads, software – and probably not iPhone 12

  12-09-2020 11:49 via uk.finance.yahoo.com
  
  Apple is holding a major event, titled "Time Flies", during which it is expected to reveal a host of new products and updates.Apple could also launch some more surprising changes, including its "Apple One" subscription and the first of its entirely new Macs.It seems fairly clear that the Apple Watch will be the big focus of this year's event.
  
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• US corporations continue sending jobs abroad during pandemic

  12-09-2020 11:00 via uk.finance.yahoo.com
  
  US corporations continue sending jobs abroad during pandemicDespite Trump’s claim that the era of offshoring US jobs is ‘over’, 37,000 workers had their positions sent overseas in three months
  
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• Turn up the heat and get a work box: nine ways to improve your home working routine

  12-09-2020 11:00 via uk.finance.yahoo.com
  
  Turn up the heat and get a work box: nine ways to improve your home working routine. Need inspiration? Follow these tips on working from home for the long haul
  
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• Credit Suisse CEO urges end of cantonal banks' privileges

  12-09-2020 10:53 via uk.finance.yahoo.com
  
  Swistzerland's state-backed regional banks' privileges should be scrapped so they pay the same taxes as private banks, Credit SuisseChief Executive Thomas Gottstein has said."I consider cantonal banks with implicit or explicit state guarantees and tax privileges a major market distortion in the Swiss private sector," he told weekly Schweiz am Wochenende in an interview published on Saturday.Cantonal bank are retail banks in which regional governments hold significant stakes and shareholder votin
  
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• Johnson accuses EU of plotting food 'blockade' on UK

  12-09-2020 10:14 via uk.finance.yahoo.com
  
  Prime Minister Boris Johnson has accused the European Union of threatening to impose a food "blockade" between Britain and Northern Ireland that could tear the UK apart, throwing new fuel on the fire of simmering Brexit talks.
  
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• Why old people are suffering because of COVID-19 hurting young people

  12-09-2020 10:06 via uk.finance.yahoo.com
  
  The younger generation are having to rely on financial help from older family members to weather the financial storm due to the coronavirus pandemic.
  
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• Dark matter is behaving unexpectedly in way that suggests there is a ‘missing ingredient’, scientists say

  12-09-2020 10:02 via uk.finance.yahoo.com
  
  Dark matter is not behaving as we would expected it to, scientists have said.There is an unusual mismatch between our theoretical models of how dark matter should be spread across galaxy clusters, and the way it actually seems to be behaving in those clusters, the researchers said.The effect of the gravity distorts light as it travels through space, and that light can be seen and used to measure the otherwise invisible dark matter.
  
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• Wake-up call: the best alarm clocks to get you out of bed

  12-09-2020 10:00 via uk.finance.yahoo.com
  
  Wake-up call: the best alarm clocks to get you out of bed. From basic models to those with smart features, these clocks mean you don’t need to rely on your mobile phone
  
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• 'My company has gone fully remote and I'm despairing': who wins in the new world of working from home?

  12-09-2020 10:00 via uk.finance.yahoo.com
  
  'My company has gone fully remote and I'm despairing': who wins in the new world of working from home?. As we move away from the traditional 9 to 5, the boundaries between office and home are increasingly blurred. Meet the bosses trying to get it right
  
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• TK Maxx overtakes Topshop in UK despite Covid crisis

  12-09-2020 09:11 via uk.finance.yahoo.com
  
  TK Maxx overtakes Topshop in UK despite Covid crisis. Bargain chain, which snaps up other retailers’ extra stock, takes sixth slot in British fashion market
  
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• U.S. lawmakers quiz Disney CEO over Xinjiang connection to "Mulan"

  12-09-2020 09:00 via uk.finance.yahoo.com
  
  Disney's $200 million live-action remake of its animated classic about a female warrior in ancient China has run into controversy for being partly filmed in the Xinjiang region, where China's clampdown on ethnic Uighurs and other Muslims has been criticized by some governments, including the United States, and human rights groups."Disney's apparent cooperation with officials of the People's Republic of China (PRC) who are most responsible for committing atrocities - or for covering up those crim
  
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• How baby Archie crashes parents Prince Harry, Meghan Markle's Zoom calls

  12-09-2020 08:46 via ibtimes.co.uk
  
  Archie Harrison is only 16 months old and loves to climb in front of the web cam, when his parents are busy holding meetings with their charities.
  
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• Want to buy shares online? Here’s how to get started

  12-09-2020 08:00 via uk.finance.yahoo.com
  
  Want to buy shares online? Here’s how to get startedCovid-19 pandemic pushes traditional savers to consider other options but there are golden rules
  
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