Business news

• Novavax enters late-stage clinical trials

  24-09-2020 23:56 via uk.finance.yahoo.com
  
  US biotech firm Novavax said Thursday it was initiating its final Phase 3 clinical trial for its experimental Covid-19 vaccine.
  
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• Google could be latest tech company to permanently work from home

  24-09-2020 23:50 via uk.finance.yahoo.com
  
  The tech giant joins Facebook and Twitter in considering a long-term shift to WFH.
  
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• ViacomCBS probed, cleared CEO on misconduct allegation

  24-09-2020 23:48 via uk.finance.yahoo.com
  
  ViacomCBS said Thursday it investigated and subsequently cleared chief executive Bob Bakish following an allegation of sexual misconduct.
  
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• BMW fined $18 mn in US over inflated sales data

  24-09-2020 23:40 via uk.finance.yahoo.com
  
  US securities regulators charged BMW with inflating its retail sales volumes to investors, fining the luxury car company $18 million in a settlement announced Thursday.
  
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• Fed's policymakers diverge on outlook for inflation, economy

  24-09-2020 23:28 via uk.finance.yahoo.com
  
  Boston Fed President Eric Rosengren and Chicago Fed President Charles Evans offered gloomy views on the economic outlook and said Congress needs to enact more fiscal stimulus.The comments came as Fed Chair Jerome Powell gave the last of three days of testimony before Congress, again on Thursday stressing the need for more fiscal stimulus.
  
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• Global stocks mixed as markets eye higher European coronavirus cases

  24-09-2020 23:17 via uk.finance.yahoo.com
  
  European stock markets fell Thursday as investors become increasingly concerned by rising virus infections, new lockdowns, a slowing economic recovery, stalled US stimulus talks and uncertainty over the coming election.
  
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• BMW to pay $18 million U.S. fine to resolve inflated sales probe

  24-09-2020 23:00 via uk.finance.yahoo.com
  
  BMW AGand two U.S. subsidiaries agreed Thursday to pay an $18 million (£14.1 million) U.S. fine to resolve accusations that they disclosed misleading information about the German luxury automaker's retail sales volume in the United States while raising approximately $18 billion from investors in corporate bond offerings.The U.S. Securities and Exchange Commission said from 2015 to 2019, BMW inflated reported U.S. retail sales, which helped BMW close the gap between actual retail sales volu
  
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• 'Alexa, I'm getting pulled over': Amazon dashcam to record traffic stops

  24-09-2020 22:48 via uk.finance.yahoo.com
  
  Amazon's new security camera for cars unveiled Thursday will allow motorists concerned about a police stop to record the incident by saying, "Alexa, I'm getting pulled over."
  
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• DocuSign chief Dan Springer: The man trying to kill pen and paper with digital signatures

  24-09-2020 22:33 via uk.finance.yahoo.com
  
  Sitting in his winery-inspired home in Napa, Dan Springer feels a bit guilty. The DocuSign chief executive’s two sons have fled the nest, and the grapes of California are in his line of sight. His shares in the digital signature company are now worth $345m (£291m), more than double what they were worth in February. Overall, the respite that comes with remote working has been welcome. “I am obviously much more fortunate than most people with the resources I have and I don’
  
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• Novavax starts late-stage COVID-19 vaccine trial in UK

  24-09-2020 22:23 via uk.finance.yahoo.com
  
  The trial is expected to enroll and test the vaccine in up to 10,000 participants aged between 18 and 84 years over the next four to six weeks.Data from the trial will support regulatory submissions for license in the UK, EU and other countries, the company said.
  
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• Novavax initiates late-stage COVID-19 vaccine trial in UK

  24-09-2020 22:23 via uk.finance.yahoo.com
  
  Novavax is among global drugmakers racing to develop a vaccine for COVID-19, for which there are no current treatments or vaccines approved.Novavax said it could produce up to 2 billion annualized doses, once all capacity is brought online by mid-2021.
  
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• Low UK isolation rates raises worries of virus spreading

  24-09-2020 22:13
  People’s intentions to follow the guidelines are much greater than their actions
  
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• Low UK isolation rates raise worries of virus spreading

  24-09-2020 22:13
  People’s intentions to follow the guidelines are much greater than their actions, study finds
  
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• Low isolation rates after test warnings heighten virus spread fears

  24-09-2020 22:13
  Study says people’s intentions much higher than actions as record Covid cases reported in UK
  
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• Facebook is 'pushing US towards civil war' and making people sick, says former executive

  24-09-2020 22:12 via uk.finance.yahoo.com
  
  Facebook may be pushing the United States towards a second civil war by amplifying the most divisive voices in pursuit of profit, a former employee has claimed. Tim Kendall, Facebook's first director of monetisation, told the US Congress on Thursday that the company had used "Big Tobacco" tactics to make their product as addictive as possible without regard for its social impact. He compared the social media giant's content ranking algorithms, which have been widely accused of deepening partisan
  
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• Amazon launches spherical Echo and flying camera drone

  24-09-2020 21:56 via uk.finance.yahoo.com
  
  Amazon launches spherical Echo and flying camera drone. Firm shows new motorised display, car alarm, Luna game-streaming service and more
  
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• Microsoft supports commission calling for re-establishment of U.S. cyber czar

  24-09-2020 21:46 via uk.finance.yahoo.com
  
  The commission has called for the establishment of a single individual responsible for leading national cybersecurity strategy and coordinating federal government efforts."In current practice, the lack of U.S. leadership in key dialogues at the United Nations and multi-stakeholder convenings such as the Paris Call for Trust and Security has inhibited progress," the company said in a blog post https://blogs.microsoft.com/on-the-issues/2020/09/24/cyberspace-solarium-commission-cyberattacks-cyberse
  
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• Questor: it will be a long road back for Scapa’s share price but at least its recovery has begun

  24-09-2020 21:33 via uk.finance.yahoo.com
  
  Hindsight tells us that we chose a bad time to pick Scapa, the maker of industrial and medical tapes, for our Inheritance Tax Portfolio of Aim‑quoted shares. Our tip was in March 2018, when the shares were at virtually their record high. It’s been a long descent since then. The shares have fallen by a thoroughly painful 77pc over that period, and the fact that the market too is much lower – the FTSE 100 has lost 25pc since the day of our tip – is scant consolation. We hav
  
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• Bayer resolves more Roundup cases, judge keeps pause on litigation

  24-09-2020 21:31 via uk.finance.yahoo.com
  
  Ken Feinberg, who is mediating talks, said his "optimism knows no bounds," and that he expected the next set of cases scheduled for trial to soon settle.U.S. District Judge Vince Chhabria in San Francisco kept a stay on litigation until Nov. 2 and asked the parties for a status update at that time.Bayer, which acquired Roundup with its purchase of Monsanto for $63 billion in 2018, agreed in June to pay around $11 billion to settle the lawsuits, which have pummeled the company's share price.
  
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• Crisis forces Sunak to walk a tightrope

  24-09-2020 21:23
  Economists positive on short-term effect but pencil in chance of further help for jobs
  
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• BoE's Haldane says speed of reactions to COVID crisis gives hope

  24-09-2020 21:10 via uk.finance.yahoo.com
  
  Bank of England Chief Economist Andy Haldane said on Thursday he had been quite reassured during the COVID-19 crisis by the speed at which governments and central banks had responded, and how quickly businesses and workers had adapted.Answering questions about the impact of coronavirus restrictions on the UK job market and how long it may last, Haldane said the crisis provided an opportunity to rethink the country's approach to business and skills."I've been quite reassured during this crisis ho
  
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• Sunak sets up moment of truth for UK jobs market

  24-09-2020 21:05
  Chancellor’s statement outlines plan to swap furlough scheme for wage subsidies aimed only at those still with work
  
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• Facebook suspends fake Russian accounts, warns of U.S. election hack-and-leak threat

  24-09-2020 21:04 via uk.finance.yahoo.com
  
  Facebook Incon Thursday said it had dismantled three networks of fake accounts which could be used by Russia's intelligence services to leak hacked documents as part of efforts to disrupt the upcoming U.S. election.The company said the accounts, which it suspended for using fake identities and other types of "coordinated inauthentic behaviour", were linked to Russian intelligence and people associated with a St. Petersburg-based organisation accused by U.S. officials of working to sway the 2016
  
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• Citi report sees $16 tn drag on US economy from racism

  24-09-2020 21:01 via uk.finance.yahoo.com
  
  Racial inequality has cost the US economy $16 trillion in wealth over the last two decades, Citigroup said in a report Thursday.
  
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• French billionaire Arnault builds up Lagardere holding

  24-09-2020 20:58 via uk.finance.yahoo.com
  
  France's richest man Bernard Arnault ratcheted up a tug-of-war over Paris Match publisher Lagardereon Thursday, revealing he had built up a direct stake in the firm, which is under siege from several other investors.Loss-making Lagardere has become the unlikely target of a proxy battle between some of France's top businessmen, after the firm's managers sought help to fend off a campaign by activist investor Amber Capital to shake up the company's governance.New investors came on board as a resul
  
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• Hundreds of City firms at risk of collapse because of Covid, FCA warns

  24-09-2020 20:54 via uk.finance.yahoo.com
  
  Hundreds of City firms at risk of collapse because of Covid, FCA warnsUK financial watchdog also criticised social media companies for allowing investment scam ads on their platforms
  
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• Amazon launches Luna cloud-based video game service

  24-09-2020 20:54 via uk.finance.yahoo.com
  
  Amazon on Thursday unveiled its Luna streaming video game service, challenging Microsoft and Google in the fast-growing segment.
  
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• Heiress makes media boss an instant billionaire

  24-09-2020 20:52 via uk.finance.yahoo.com
  
  The boss of German media giant Axel Springer has become an instant billionaire after getting a €1bn share windfall. Chief executive Mathias Doepfner has been handed 15pc of the company by Friede Springer, the 78-year-old heiress and controlling shareholder of the newspaper and advertising business. Mr Doepfner, 57, has also bought a further 4.1pc of her shares, meaning the pair will each hold 22pc of the company. Ms Springer said the move confirms Doepfner as her successor to the business,
  
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• Amazon unveils miniature security drone to patrol your home while you are away

  24-09-2020 20:49 via uk.finance.yahoo.com
  
  Amazon has unveiled a miniature security drone that will patrol inside homes recording video and broadcasting it to owners’ smartphones. The Always Home Cam, which is being sold by Amazon subsidiary Ring, is designed to alert owners to potential break-ins, autonomously flying around rooms when people are out of the house. Amazon said it was also designed to let people check if they have left the oven or other appliances on when they are away. The camera - which the company is not calling a
  
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• ‘Winter economic plan’ leaves MPs facing cold realities

  24-09-2020 20:42
  Sunak attempts to cushion the adjustment to a new way of living and working
  
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• Sunak warned that job support scheme will not prevent redundancies

  24-09-2020 20:35
  Business groups raise fears over mass job losses
  
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• Sunak is warned that support scheme will not stop redundancies

  24-09-2020 20:35
  Business groups raise their concerns over a mass loss of jobs
  
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• Rishi Sunak is warned that support scheme will not stop redundancies

  24-09-2020 20:35
  UK business groups raise fears over mass loss of jobs
  
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• CBI reports strong sales of furniture, DIY goods and groceries

  24-09-2020 20:30 via uk.finance.yahoo.com
  
  CBI reports strong sales of furniture, DIY goods and groceries. Retail sector shows winners and losers from shift to working from home and Covid restrictions on social events
  
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• Rishi Sunak's jobs plan reduces the immediate risk, but it's flawed

  24-09-2020 20:27 via uk.finance.yahoo.com
  
  Rishi Sunak's jobs plan reduces the immediate risk, but it's flawed. The job support scheme looks fiddly, and unemployment looks sure to rise sharply
  
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• Top Democrat on Senate panel opposes sending subpoenas to tech CEOs

  24-09-2020 20:23 via uk.finance.yahoo.com
  
  The ranking Democrat on the U.S. Senate Commerce Committee rejected a request by Republicans on Thursday to subpoena three top tech executives to testify at an upcoming hearing, accusing them of trying to use the subpoena power for political gain.The committee, chaired by Republican Senator Roger Wicker, had planned to send out subpoenas if the chief executives of Twitter Inc, Alphabet Inc's Google and Facebook Inc did not agree to testify by the end of Thursday at a hearing about a law that pro
  
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• Senate panel plans to issue subpoenas to CEOs of Google, Facebook, Twitter

  24-09-2020 20:23 via uk.finance.yahoo.com
  
  The U.S. Senate Commerce Committee chaired by Republican Senator Roger Wicker will issue subpoenas to the chief executives of Twitter Inc, Alphabet Inc's Google and Facebook Incif they do not agree to testify at a hearing on Oct. 1.The hearing will discuss a legal immunity known as Section 230 that technology companies have when it comes to liability over content posted by users.
  
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• As wildfires approach Silicon Valley, tech firms struggle to find the backing to fight them

  24-09-2020 19:56 via uk.finance.yahoo.com
  
  Winnacker, a fire district chief who led a team against the 2017 fires that scorched vineyards in Napa and Sonoma Valley, is interested in tools that can spot fires early and ease evacuations.One piece of tech Winnacker is using?
  
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• Winter economy plan: UK braced for job losses as Rishi Sunak replaces furlough with less generous scheme

  24-09-2020 19:46 via uk.finance.yahoo.com
  
  Business welcomes winter economy plan as ‘shot in arm’ for economy
  
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• UK watchdog tells bankers to be strict about office working

  24-09-2020 19:45 via uk.finance.yahoo.com
  
  Britain's financial industry staff should work from home where possible, with only truly essential staff going to the office, the Financial Conduct Authority said on Thursday.The FCA republished its criteria for banks and other financial firms on who can be designated an "essential worker" and work from the office.The FCA said key workers should have a letter signed by a senior company official stating they have been designated an essential worker in line with the criteria set out by the watchdo
  
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• Judge says U.S. must defend or delay TikTok app store ban by Friday

  24-09-2020 19:40 via uk.finance.yahoo.com
  
  A U.S. judge said Thursday the Trump administration must either delay a ban on U.S. app stores offering TikTok for download or file legal papers defending the decision by Friday.The U.S. Commerce Department order banning Apple Inc and Alphabet Inc's Google app stores from offering TikTok app downloads is set to take effect late Sunday.U.S. District Judge Carl Nichols said the government must file a response to a request by TikTok for a preliminary injunction or delay the order by 2:30 p.m. EDT F
  
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• Scotland's business leaders welcome Rishi Sunak's 'bold' plan to save thousands of jobs this winter

  24-09-2020 19:34 via uk.finance.yahoo.com
  
  Scotland's business leaders have said the Chancellor's "bold" new blueprint will save hundreds of thousands of jobs this winter but warned extra support will be needed for the worst-hit sectors. CBI Scotland, the Federation of Small Businesses (FSB) and the Scottish Chambers of Commerce (SCC) all gave a warm welcome to Rishi Sunak's successor to the furlough scheme and loan support. Tracy Black, the CBI Scotland director, said he had "acted decisively" after listening to businesses and unions an
  
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• Sunak’s support plans pose tough choices for business

  24-09-2020 19:30
  The chancellor’s package was essential, but may yet prove insufficient
  
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• Amazon unveils indoor drone and car alarm in security product rollout

  24-09-2020 19:30 via uk.finance.yahoo.com
  
  The news reflects Amazon's drive into the security business since it acquired the smart doorbell and camera company Ring in 2018.Amazon's indoor drone, called the Ring Always Home Cam, flies to take video in predetermined areas and will cost $249.Shares of Amazon rose about 1% in late trade.
  
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• Amazon pushes security products with indoor drone and car alarm

  24-09-2020 19:30 via uk.finance.yahoo.com
  
  The news reflects Amazon's growing security business since its acquisition of smart doorbell maker Ring in 2018, an effort that's drawn scrutinty from civil liberties advocates.It also represents Amazon's latest push into shoppers' homes, which evolved from package delivery years ago to gadgets that let consumers turn off the lights or stream media by voice command.Amazon's indoor drone, the Ring Always Home Cam available next year, aims to capture video where customers otherwise lack static cam
  
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• Amazon adds spherical speakers, car security products to devices lineup

  24-09-2020 19:30 via uk.finance.yahoo.com
  
  The company said Tesla Incvehicles will be the first that are compatible with its Ring Car Connect software, which can tell customers if their vehicle is unlocked and can play back video.Amazon also announced upgrades such as a deletion feature for all prior voice recordings, more natural tone for its voice assistant Alexa and an improved ability to discern whether speech is directed at Alexa or at others in a household.
  
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• ConocoPhillips sees global oil demand returning, executive says

  24-09-2020 19:15 via uk.finance.yahoo.com
  
  The view stands in contrast to rival BP Plc , which sees the coronavirus pandemic leaving a lasting effect on global energy demand, though ConocoPhillips still expects "quite a bit of uncertainty next year," Senior Vice President Dominic Macklon said during a Q&A with Raymond James.The hardest-hit area of the oil industry in 2020 has been U.S. shale, where producers cut production and sidelined equipment as oil prices crashed.
  
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• ConocoPhillips sees global oil demand returning - executive

  24-09-2020 19:15 via uk.finance.yahoo.com
  
  The view stands in contrast to rival BP Plc , which sees the coronavirus pandemic leaving a lasting effect on global energy demand, though ConocoPhillips still expects "quite a bit of uncertainty next year" in oil demand, Senior Vice President Dominic Macklon said during a Q&A with Raymond James.Capital spending in 2021 will be "somewhat below" its original planned 2020 level of $6.6 billion, Macklon said.
  
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• Visits to U.S. stores, restaurants stall as concern over economic recovery grows

  24-09-2020 19:10 via uk.finance.yahoo.com
  
  Foot traffic to U.S. restaurants and stores showed little improvement last week, high frequency data show, and signs emerged of deepening stress for small businesses as economists worry the recovery from coronavirus lockdowns continues to slow.Employee records on 55,000 small businesses maintained by Homebase https://joinhomebase.com/data showed the number of people working declined for a second week in a row.Data from cellphone tracking firm Unacast https://www.unacast.com/covid19/covid-19-reta
  
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• Business gives mixed welcome to Sunak’s new support package

  24-09-2020 19:05
  Loan scheme extension gets thumbs-up but VAT measures disappoint hospitality sector
  
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