Business news

• Ocado co-founder Jonathan Faiman has assets frozen in row with Russian billionaire

  25-09-2020 23:52 via uk.finance.yahoo.com
  
  Jonathan Faiman, the Ocado co-founder who has built a rival tech supermarket business, has had his assets frozen by the High Court as part of an ongoing legal battle with a Russian billionaire. Mr Faiman is being pursued by Valla, a vehicle controlled by fertiliser billionaire Andrey Melnichenko, over £30m he borrowed. A judge has already ordered Mr Faiman to pay the money. According to legal papers filed in New York last week, he still owes $30m (£23.6m). Valla’s lawyers told
  
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• Tesco joins Morrisons to limit sales of some items

  25-09-2020 23:40 via bbc.co.uk
  
  Limits on loo roll and flour are back as supermarkets act to prevent a repeat of March's panic buying.
  
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• American Airlines secures $5.5 billion Treasury loan, could tap more

  25-09-2020 23:33 via uk.finance.yahoo.com
  
  American Airlinessaid on Friday it has secured a $5.5 billion (£4.31 billion) government loan and could tap up to $2 billion more in October depending on how the U.S. Treasury allocates extra funds under a $25 billion loan package for airlines.Airlines have until Sept. 30 to decide whether to take the U.S. Treasury loans, which were authorized under the CARES Act coronavirus relief bill passed by Congress in March.American Airlines was originally allocated $4.75 billion, but carriers inclu
  
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• Singapore in world first for facial verification

  25-09-2020 23:32 via bbc.co.uk
  
  The technology is being rolled out countrywide as part of Singapore's national identity scheme.
  
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• Wall Street ends volatile week on positive note, Europe slides

  25-09-2020 23:26 via uk.finance.yahoo.com
  
  US stocks finished a choppy week solidly higher as tech stocks outperformed, though the cheer did not extend to Europe where investors were spooked by surging virus infections.
  
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• Thomas Cook staff: Redundant twice in a year

  25-09-2020 23:23 via bbc.co.uk
  
  A year on from the firm’s collapse, many staff are still out of work while others have set up businesses.
  
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• Scrutiny intensifies on Boeing board after 737 MAX crashes

  25-09-2020 22:43 via uk.finance.yahoo.com
  
  Boeing's board of directors is under increased scrutiny for its oversight of the planemaker ahead of two 737 MAX crashes that killed 346 people.
  
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• Google parent Alphabet settles sexual misconduct lawsuit

  25-09-2020 22:41 via uk.finance.yahoo.com
  
  Alphabet on Friday announced moves to address sexual misconduct at Google and its other operating divisions, putting in place changes worked out to settle a lawsuit filed by shareholders.
  
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• Royal Mail staff: tell us about working conditions

  25-09-2020 22:22 via uk.finance.yahoo.com
  
  Royal Mail staff: tell us about working conditionsSorting offices have had to keep running as bosses work out how to respond to the evolving coronavirus pandemic. Share your experiences
  
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• Matt Ratana: The sports-mad Kiwi who chose to serve the people of his adopted country

  25-09-2020 22:07 via uk.finance.yahoo.com
  
  To his colleagues in the Metropolitan Police force and his teammates on the rugby field, Matt Ratana was simply one of the good guys. Physically huge, and with an even bigger personality, the sports-mad Kiwi was close to retiring from the police, having served for 29 years, although he had no intention of putting his feet up. Having played rugby for a string of top-level clubs including London Irish, Mr Ratana could have turned professional – but instead he chose to join the police and ser
  
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• FAA chief set to conduct 737 MAX evaluation flight next week

  25-09-2020 21:28 via uk.finance.yahoo.com
  
  Federal Aviation Administration Chief Steve Dickson is set to conduct an evaluation flight at the controls of a Boeing 737 MAXnext week, a milestone as the U.S. planemaker works to win approval to resume flights, the agency told lawmakers.The Boeing 737 MAX has been grounded since March 2019 after two fatal crashes killed 346 people.Dickson, who was previously a commercial airline pilot, plans to undergo simulator training before the flight and will then share his observations with FAA technical
  
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• US maintains plan for TikTok download ban; court to rule

  25-09-2020 21:26 via uk.finance.yahoo.com
  
  The Trump administration said Friday it would not back down from a plan to ban new US downloads of the popular video-sharing app TikTok, setting up a court showdown ahead of a Sunday deadline.
  
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• UK national debt soars £36bn in August as cost of coronavirus support mounts

  25-09-2020 21:24 via uk.finance.yahoo.com
  
  Government borrowed more than in any previous August since the Office for National Statistics began publishing monthly figures in 1993
  
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• UK Treasury asks health department to separate funding requests

  25-09-2020 20:49
  Cost of fighting pandemic puts NHS budget under increasing pressure
  
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• US won't back off plan for TikTok download ban: court filing

  25-09-2020 20:43 via uk.finance.yahoo.com
  
  The Trump administration said Friday it would not back down from a plan to ban new US downloads of the popular video-sharing app TikTok, setting up a court showdown ahead of a Sunday deadline.
  
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• Khan on police practices after fatal shooting of officer

  25-09-2020 20:25 via uk.finance.yahoo.com
  
  Mayor of London Sadiq Khan has responded to a question about police practices during a statement outside New Scotland Yard. It comes after a police officer was shot dead by a man who was being detained at Croydon Custody Centre in south London.
  
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• U.S. tells judge it opposes TikTok effort to halt app store ban

  25-09-2020 20:24 via uk.finance.yahoo.com
  
  The U.S. Justice Department said Friday it will oppose a request from TikTok to delay an ban on U.S. app stores Apple Incand Alphabet Inc Googleset for late Sunday.The government faced a 2:30 p.m. Friday deadline to either delay the ban or oppose TikTok's preliminary injunction.The Justice Department asked permission to file their objection under seal because it includes submissions TikTok's Chinese owner ByteDance made that include confidential business information.
  
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• Judge to hold hearing Sunday on planned TikTok U.S. app store ban

  25-09-2020 20:24 via uk.finance.yahoo.com
  
  A judge will hold a hearing on Sunday on whether to allow a Commerce Department ban on new TikTok downloads from Apple Incand Alphabet Inc Googleapp stores from taking effect.The Justice Department faced a 2:30 p.m. EDT (1830 GMT) Friday deadline to either delay the ban or oppose TikTok's preliminary injunction.It filed its objection under seal, citing submissions made by TikTok's Chinese owner, ByteDance, that include confidential business information.
  
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• 1m more British workers set to lose jobs this year, warn economists

  25-09-2020 20:16
  Wave of unemployment among young and low skilled forecast despite Sunak support package
  
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• Government estimates 100,000 people in England had coronavirus last week

  25-09-2020 19:50
  Separate data show growth in new daily infections across the UK has risen to between 4% and 8%
  
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• Leonardo sees 1 billion euro industry boost from Italy's alliance with U.S. on space

  25-09-2020 19:48 via uk.finance.yahoo.com
  
  An agreement between Italy and the United States over space exploration can generate around 1 billion euros (910 million pounds) for the Italian space industry, the CEO of aerospace and defence group Leonardosaid.Italy's Undersecretary to the Presidency, Riccardo Fraccaro, and NASA administrator Jim Bridenstine, agreed to cooperate on NASA's Artemis programme for the return to the moon and other space projects.
  
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• Turkish rate hike needs follow through for real game change

  25-09-2020 19:46 via uk.finance.yahoo.com
  
  Turkish policymakers are no strangers to unexpected action when in a tight corner, but analysts said Thursday's surprise interest rate hike could herald a change of tack on monetary policy.Although raising rates by 200 basis points during a global pandemic and slump is unusual, analysts welcomed the Central Bank of Turkey's (CBT) response in the face of rising inflation."It was a bold move by the CBT which should restore credibility and improve investor sentiment," said Christian Wietoska at Deu
  
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• Rolls-Royce bulks up ITP arm for a sale

  25-09-2020 19:41 via uk.finance.yahoo.com
  
  Rolls-Royce is dressing up its Spanish ITP division for sale by bundling it with other businesses, in an attempt to attract a higher price and stave off a coronavirus cash crunch. The engineer is in talks with private equity houses about a deal to offload ITP, whose products have included parts for the Eurofighter Typhoon jet engines, but is understood to be trying to bulk up the division to make it a more tempting purchase. Options being considered include wrapping in engine components currentl
  
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• Back to Venus: Upstart company wants to beat NASA in search for life

  25-09-2020 19:32 via uk.finance.yahoo.com
  
  Can a small American aerospace company get to Venus before NASA returns to our superheated planetary neighbor?
  
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• Alphabet settles shareholder suit over sexual misconduct cases

  25-09-2020 19:11 via uk.finance.yahoo.com
  
  The company will prohibit severance packages to employees who are subject to any pending investigation for sexual misconduct or retaliation.Sexual misconduct accusations against senior executives will be investigated by a "rapid response" team, and they will be barred from amending their stock-selling plans while under investigation.
  
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• Alphabet settles shareholder suit over sexual harassment claims

  25-09-2020 19:11 via uk.finance.yahoo.com
  
  The company will set aside $310 million in funding towards diversity initiatives and prohibit severance packages to employees who are subject to any pending investigation for sexual misconduct or retaliation, it said.The lawsuit from last year accused Alphabet leadership of covering up sexual harassment scandals within the company including by awarding lavish exit packages to two top executives found responsible for misconduct.Alphabet said on Friday it is setting set up a new council to oversee
  
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• Meet Jess Gillam: the saxophonist on a mission to bring joy to peoples' lives

  25-09-2020 19:06 via uk.finance.yahoo.com
  
  Jess Gillam and her saxophone have taken the classical music world by storm. She has already won a Classic Brit Award, is the first saxophonist to reach the BBC Young Musician final; she performed at last year’s Baftas and is the youngest presenter on BBC Radio 3, where she showcases new talent. “There was an old lady who came to one of my concerts, and she said she didn’t feel as if she had anything to live for any more,” says Gillam. “She said, ‘After hearin
  
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• Britain has offensive cyberwar capability, top general admits

  25-09-2020 19:00 via uk.finance.yahoo.com
  
  Britain has offensive cyberwar capability, top general admitsGen Sir Patrick Sanders says Boris Johnson has told him to ensure UK is major cyber power
  
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• SpaceX handed loss in challenge over Air Force contract

  25-09-2020 18:59 via uk.finance.yahoo.com
  
  Musk's Space Exploration Technologies Corp in its year-long lawsuit had accused the Air Force of unfairly awarding development contracts to Jeff Bezos' Blue Origin and other competitors for new rocket systems in 2018.Judge Otis D. Wright II gave the parties a week-long window to change his mind before entering judgment.
  
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• Twitter aims to label more state-affiliated accounts worldwide

  25-09-2020 18:58 via uk.finance.yahoo.com
  
  During the virtual Oslo Freedom Forum, hosted by New York-based nonprofit the Human Rights Foundation, Dorsey said Twitter would label accounts in more countries to give users more context for information tweeted by state-affiliated accounts and "if there's an agenda behind it."Twitter first announced the labeling last month, but only initially applied it to accounts from China, France, Russia, the UK and the United States.
  
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• Private equity-owned companies win access to UK emergency funds

  25-09-2020 18:47
  Concession from Treasury follows warnings that thousands of jobs are at risk from Covid restrictions
  
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• Palantir expected to be valued as much as $22bn in market debut next week

  25-09-2020 18:45 via uk.finance.yahoo.com
  
  Palantir expected to be valued as much as $22bn in market debut next week. Company’s shares could start trading at $10 each when it goes public, bankers say
  
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• G7 ministers 'committed' to debt relief, urge expansion

  25-09-2020 18:45 via uk.finance.yahoo.com
  
  G7 finance ministers on Friday said they "remain committed" to a debt suspension program announced in April meant to help the poorest nations weather the coronavirus pandemic.
  
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• Canada's biggest provinces seek clampdown on social gatherings as coronavirus cases top 150,000

  25-09-2020 18:43 via uk.finance.yahoo.com
  
  Canada's two most populous provinces on Friday moved to clamp down further on social gatherings in a bid to slow a second wave of coronavirus infections that since the start of the pandemic now total more than 150,000 nationwide.Premier Doug Ford, whose government has already slashed the size of permitted gatherings indoor and outdoors, repeated his concerns that the majority of new cases were in people under 40.Health officials in Canada have been making increasingly gloomy comments in recent d
  
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• Canada's biggest provinces seek clamp down on social gatherings as coronavirus wave spreads

  25-09-2020 18:43 via uk.finance.yahoo.com
  
  Canada's two most populous provinces on Friday moved to clamp down further on social gatherings in a bid to slow a second wave of coronavirus cases sweeping across much of the country.Premier Doug Ford, whose government has already slashed the size of permitted gatherings indoor and outdoors, repeated his concerns that the majority of new cases were in people under 40.Health officials in Canada have been making increasingly gloomy comments in recent days.
  
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• Contact-tracing app: First version worked on more phones

  25-09-2020 18:39 via bbc.co.uk
  
  The first version of the NHS England and Wales app was trialled on the Isle of Wight.
  
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• Covid-19 curfew spells trouble for UK’s struggling pubs and restaurants

  25-09-2020 18:35
  Hospitality trade in Bristol feels punished by fresh measures to contain coronavirus
  
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• Wuhan citizens sue government over coronavirus deaths

  25-09-2020 18:30 via uk.finance.yahoo.com
  
  Government accused of hiding the outbreak until it was too late
  
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• Minute’s silence held for fallen police officer

  25-09-2020 18:26 via uk.finance.yahoo.com
  
  Home Secretary Priti Patel, Metropolitan Police Commissioner Dame Cressida Dick and Mayor of London Sadiq Khan, have observed a minute's silence for the police officer who was tragically killed in Croydon whilst on duty.
  
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• Poor money skills fuelling ‘rise in debt and despair’

  25-09-2020 18:19 via uk.finance.yahoo.com
  
  More routes to consumer support close as the need for help rises
  
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• Beatles memorabilia goes under hammer at online auction

  25-09-2020 18:13 via uk.finance.yahoo.com
  
  The sale offers items spanning the band's entire performing career, including a signed copy of the Fab Four's first single from 1962, "Love Me Do", valued at between 15,000 and 20,000 pounds ($19,000-$25,400).Other items on sale include a pair of John Lennon's unmistakable glasses, valued at 30,000 to 40,000 pounds, and his school detention sheet, estimated to be worth as much as 5,000 pounds, which details a record of his misbehaviour as a boy.
  
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• Firms told they can't 'recruit their way out of a diversity problem'

  25-09-2020 18:08 via uk.finance.yahoo.com
  
  Business leaders told the DIAL Global summit employers needed to build a better culture, as well as hiring more diverse recruits.
  
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• Amazon launches Luna, a game streaming platform for Fire products, iPhones, and laptops

  25-09-2020 18:00 via uk.finance.yahoo.com
  
  It will be available on Mac, PC, Fire TV, iPhone and iPad devices, with Android coming soon
  
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• David Miliband and John Browne join Giant Ventures, a new UK venture capital fund

  25-09-2020 17:53 via uk.finance.yahoo.com
  
  Former foreign secretary David Miliband and ex-BP chief executive John Browne have joined a new venture capital firm that formally launched on Friday. The pair will sit on the advisory board of London and Los Angeles-based Giant Ventures, which will invest in the areas of the environment, health and wellness, sustainable cities and financial inclusion. Giant plans to invest $1bn over the next decade in backing companies throughout various stages of their lifespan. The company will have a “
  
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• Masks make for awkward moments

  25-09-2020 17:45
  Reticent Britons don’t know how to deal with those who don’t comply
  
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• California man found guilty of putting semen in co-worker's water bottle

  25-09-2020 17:30 via ibtimes.co.uk
  
  Surveillance footage also showed how the man waited for the woman to leave and then smeared something on her keyboard and mouse using tissues.
  
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• Mike Ashley blows £3.3m on private jets and rents

  25-09-2020 17:29 via uk.finance.yahoo.com
  
  Mike Ashley splashed out £3.3m on private use of his company jet and helicopter, football tickets for his family and renting property in London and Miami, documents show. Fresh accounts for Mash Holdings, the business the retail tycoon’s investments in Sports Direct and Newcastle United Football Club, revealed the tycoon paid it £1.4m for property he rents from the company in the capital and the US state. The use of Mash's jet and helicopter cost him £1.9m in the year to
  
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• Live Q&A: Redundancy and your rights

  25-09-2020 17:25
  
  FT experts take your questions on the job support scheme and employment rights at noon on Tuesday September 29
  
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• Drunk driver admits moving unconscious passenger to driver's seat after crash

  25-09-2020 17:22 via ibtimes.co.uk
  
  The passenger had been blamed for the accident leading to the death of a 16-year-old.
  
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• William Hill: Takeover battle looms for UK bookmaker

  25-09-2020 17:11 via bbc.co.uk
  
  Shares in the betting giant jump by a third after it says it has received two rival bid approaches.
  
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