Business news

• Commerzbank names Deutsche Bank's Manfred Knof as new CEO

  26-09-2020 23:13 via uk.finance.yahoo.com
  
  Commerzbank, Germany's second largest bank which has been hit by the coronavirus pandemic and the Wirecard scandal, on Saturday named Manfred Knof from rival lender Deutsche Bank as its new chairman.
  
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• Labour take poll lead over Tories for first time since Boris Johnson became PM

  26-09-2020 23:06 via uk.finance.yahoo.com
  
  Labour have moved ahead of the Conservative Party for the first time since Boris Johnson became prime minister, an opinion poll has indicated.
  
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• BoE's Tenreyro says evidence on negative rates is 'encouraging'

  26-09-2020 22:55 via uk.finance.yahoo.com
  
  The Bank of England's investigation into whether negative rates might help the British economy through its current downturn has found "encouraging" evidence, policymaker Silvana Tenreyro said in an interview published late on Saturday.Tenreyro told the Sunday Telegraph that she did not expect Britain to continue to enjoy a fast V-shaped recovery, due to headwinds from local flare-ups in COVID-19, rising unemployment and a "very weak" global economic outlook.Britain's central bank said in August
  
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• In this recession, low-paid women and those without a degree are being hit hardest in Australia

  26-09-2020 22:00 via uk.finance.yahoo.com
  
  In this recession, low-paid women and those without a degree are being hit hardest in Australia. The 1990s recession was mostly all about manual labour and manufacturing. This time round it is mostly about services
  
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• From boom to despair: Sydney's west to suffer Covid symptoms 'for generations'

  26-09-2020 22:00 via uk.finance.yahoo.com
  
  From boom to despair: Sydney's west to suffer Covid symptoms 'for generations'. Before the pandemic the region was looking up but the weak local jobs market will ensure it faces tough times for decades
  
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• Commerzbank poaches Deutsche Bank's Knof as new CEO

  26-09-2020 20:36 via uk.finance.yahoo.com
  
  German lender Commerzbankhas poached a senior executive of its larger rival Deutsche Bankto assume the role of chief executive, filling a leadership vacuum after months of turmoil.Manfred Knof, head of Deutsche Bank's retail business in Germany, will assume the top spot at Commerzbank on Jan. 1.The appointment allows Commerzbank to move forward with a new strategic plan that was put on hold until a new leader was found.
  
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• ‘Every week is an ordeal’: Johnson under pressure over Brexit and lockdown

  26-09-2020 19:00
  As EU trade talks resume, a no-deal scenario remains possible but the UK prime minister needs progress to dispel criticism of his leadership
  
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• Tory split on coronavirus has seen off any joined-up strategy

  26-09-2020 18:00 via uk.finance.yahoo.com
  
  Tory split on coronavirus has seen off any joined-up strategyThe battle between Treasury and health department has doomed us to a succession of contradictory gambits - and a long, hard winter
  
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• Google birthday: When was the world’s most popular website created?

  26-09-2020 18:00 via uk.finance.yahoo.com
  
  Founders Larry Page and Sergey Brin launched Google from university dorm rooms
  
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• Fears for jobs grow as employers count cost of Sunak’s winter plan

  26-09-2020 17:00 via uk.finance.yahoo.com
  
  Fears for jobs grow as employers count cost of Sunak’s winter plan. The new measures for workers on the furlough scheme are not generous enough to prevent a damaging rise in unemployment
  
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• NBA sends teams memo with health and safety protocols for arenas next season

  26-09-2020 16:32 via ibtimes.co.uk
  
  The 32-page manual outlining cleaning and disinfecting protocols were sent to all NBA teams.
  
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• Thailand tackles unemployment with million jobs expo

  26-09-2020 16:19 via uk.finance.yahoo.com
  
  Tens of thousands of Thais on Saturday flocked to a government-organised job expo with more than a million jobs up for grabs as it works to stem mounting unemployment in an economy battered by the coronavirus pandemic.More than 570 booths, from public organisations, private firms and for roles overseas, were set up for job seekers at a "JOB EXPO THAILAND 2020" in Bangkok, which runs until Monday."I used to work for Hong Kong Airlines, but the company couldn't deal with the cost, so they had to l
  
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• LV= mulls tie-up with Royal London to create 'mutual' powerhouse

  26-09-2020 16:19 via uk.finance.yahoo.com
  
  Life insurer Liverpool Victoria, known as LV=, is in talks to merge with rival Royal London to create a new “mutual” financial services powerhouse. LV=, which is owned by its customers, launched a strategic review at the end of the last year as it sold its general insurance business to Allianz for £1.1bn to focus on pension and life insurance operations. One of the options under consideration has been tie-up with a competitor to gain heft. Royal London, which is also a mutual,
  
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• Boston Celtics come from behind in Game 5 to tighten series 3-2

  26-09-2020 16:17 via ibtimes.co.uk
  
  The Celtics will be looking to stage a comeback in the series with the help of their young players.
  
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• LA Lakers: Anthony Davis officially listed as injured, may miss Game 5

  26-09-2020 16:01 via ibtimes.co.uk
  
  The Lakers are hoping to win Game 5 and close out the series without the injured star.
  
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• EasyJet rejects claims it is 'hanging by a thread' as pilots avoid compulsory redundancies

  26-09-2020 15:44 via uk.finance.yahoo.com
  
  The budget airline said that the recording does not reflect 'what easyJet or CFO Andrew Findlay said.'
  
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• U.S. tightens exports to China's chipmaker SMIC, citing risk of military use

  26-09-2020 15:23 via uk.finance.yahoo.com
  
  The United States has imposed restrictions on exports to China's biggest chip maker SMIC after concluding there is an "unacceptable risk" equipment supplied to it could be used for military purposes.Suppliers of certain equipment to Semiconductor Manufacturing International Corporationwill now have to apply for individual export licenses, according to a letter from the Commerce Department dated Friday and seen by Reuters.The latest move marks a shift in U.S. policy from earlier this year, when a
  
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• Daimler's designated chairman Zetsche tells newspaper he no longer wants the job

  26-09-2020 15:15 via uk.finance.yahoo.com
  
  Daimler'sDieter Zetsche told Germany's Frankfurter Allgemeine Sonntagszeitung newspaper that he will not seek to become chairman of the supervisory board of the German carmaker.Zetsche, a former chief executive of the company which owns the Mercedes-Benz brand, was due to take a seat as chairman on the board of directors, which in Germany is known as the supervisory board.Daimler was not immediately available for comment.
  
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• Daimler's designated chairman Zetsche renounces job

  26-09-2020 15:15 via uk.finance.yahoo.com
  
  Daimler'sDieter Zetsche will not seek to become chairman of the German carmaker's supervisory board, he told Frankfurter Allgemeine Sonntagszeitung newspaper.Zetsche, 67, a former chief executive of the company which owns the Mercedes-Benz brand, was due to take a seat as chairman on the board of directors, which in Germany is known as the supervisory board."We acknowledge Dr. Zetsche's decision with great respect," a Daimler spokesman said.
  
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• Coronavirus: Nearly £100m in unclaimed vouchers lost during lockdown

  26-09-2020 14:17 via uk.finance.yahoo.com
  
  According to new research by Which?, a quarter of UK adults had a shopping voucher that expired during the period when many shops and businesses were forced to shut.
  
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• What you need to know about the economy, jobs and the 'Winter Economy Plan'

  26-09-2020 13:17 via uk.finance.yahoo.com
  
  Rishi Sunak outlined the 'Winter Economy Plan' on Thursday, calling the new policies a 'radical intervention' in the labour market.
  
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• Ring the changes: the best mid-price smartphones

  26-09-2020 13:00 via uk.finance.yahoo.com
  
  Ring the changes: the best mid-price smartphonesLower cost doesn’t have to mean lower quality: these mobiles can give high-end models a run for their money
  
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• From border chaos to EU warnings: What's next for Brexit as talks are set to resume?

  26-09-2020 12:33 via uk.finance.yahoo.com
  
  Cabinet minister Michael Gove warned that there could be two-day delays in Kent for freight to clear customs after end of Brexit transition period.
  
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• Coronavirus: One in three parents says childcare has held back their careers

  26-09-2020 12:29 via uk.finance.yahoo.com
  
  Exclusive: A poll lays bare working parents' struggles, as charities warn childcare during school closures risks 'pushing single parents into poverty.'
  
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• Covid has left easyJet 'hanging by thread', union official tells staff

  26-09-2020 12:15 via uk.finance.yahoo.com
  
  Covid has left easyJet 'hanging by thread', union official tells staffAirline denies suggestion that it is at risk unless there is resurgence of passengers next summer
  
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• Queen Sonja gives update on King Harald's health; says he will be 'on his feet' soon

  26-09-2020 11:00 via ibtimes.co.uk
  
  King Harald of Norway was hospitalised on Friday, due to trouble in breathing.
  
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• ‘It’s not what was promised’: shoppers divided on mystery fashion boxes

  26-09-2020 11:00 via uk.finance.yahoo.com
  
  ‘It’s not what was promised’: shoppers divided on mystery fashion boxesA company’s charity scheme in the Covid crisis delighted some buyers, while others feel let down
  
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• China needs to step up global financial integration - FX regulator

  26-09-2020 10:53 via uk.finance.yahoo.com
  
  China needs to further open its capital markets and financial industry to avoid being globally isolated，a senior foreign exchange regulator said on Saturday.China will conform to international rules to promote further integration of its capital markets, and continue interest rate and exchange rate reforms in a steady and prudent manner, Lu Lei, deputy director of the State Administration of Foreign Exchange (SAFE), said during an industry forum in Shanghai."China should use a higher
  
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• Queen Elizabeth II and royal family's income takes downward turn amid Covid-19

  26-09-2020 08:53 via ibtimes.co.uk
  
  The British royal family faces the crisis situation due to a shortage of tourists visiting royal buildings.
  
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• Nissan to launch slew of new vehicles in China over next five years - CEO

  26-09-2020 08:06 via uk.finance.yahoo.com
  
  Nissan Motor's chief executivesaid on Saturday he planned to launch a number of new vehicles in the growing Chinese market over the next five years, including electrical cars, that could help the struggling Japanese automaker return to profit."The recovery in the Chinese market has been very remarkable, and our key segments have returned to the previous year's level if not slightly better," CEO Makoto Uchida said at a press conference at the Beijing auto show via a video link from Japan.Uchida a
  
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• Princess Eugenie wears beaded rose quartz bracelets; find out what it signifies

  26-09-2020 07:22 via ibtimes.co.uk
  
  The rose quartz promotes nurturing energy and is its healing properties are believed to aid fertility, conception, pregnancy and childbirth.
  
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• Why you should swap your 'to-do' list for a 'done' list

  26-09-2020 07:00 via uk.finance.yahoo.com
  
  To-do lists to keep ourselves on track during the day, but can also remind us of everything we’ve failed to do.
  
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• EasyJet 'hanging by a thread', says union official

  26-09-2020 07:00 via bbc.co.uk
  
  The airline disputes the claims made in a leaked recording obtained by the BBC.
  
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• Coronavirus returns as Chancellor Sunak walks a tightrope

  26-09-2020 06:00
  
  Tighter restrictions, the winter economic plan and Labour's new look
  
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• Mitsubishi Motors to cut 500-600 jobs to reduce costs - sources

  26-09-2020 05:56 via uk.finance.yahoo.com
  
  Mitsubishi Motors Corpwill seek voluntary retirement from 500 to 600 employees, mostly in management, in Japan from mid-November to cut costs, two sources familiar with the matter told Reuters on Saturday.The auto company is expected to post a net loss of 360 billion yen (2.7 billion pounds) in the financial year to March 2021, hurt by a plunge in sales due in part to the coronavirus pandemic.Mitsubishi has already embarked on a plan to cut 20% of fixed costs in two years by shrinking its workfo
  
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• Prince Joachim of Denmark gets promoted to brigadier general rank

  26-09-2020 05:38 via ibtimes.co.uk
  
  The Danish royal began his military training in 1987 as a recruit in the Queen's Regiment.
  
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• Princess Charlene of Monaco looks stunning in daring sequin gown at charity gala

  26-09-2020 05:19 via ibtimes.co.uk
  
  The charity gala included stars like Helen Mirren, Kate Beckinsale, Rebel Wilson, Sting and Johnny Depp, all of whom were donning masks.
  
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• UK investors hunker down amid rising virus worries

  26-09-2020 05:00
  A winter of rising unemployment and further Covid restrictions will test resolve
  
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• Wildly successful, TikTok becomes focus of US-China war

  26-09-2020 03:15 via uk.finance.yahoo.com
  
  Known for its short-form videos popular with teens, TikTok has become a global social media sensation, and at the same time has found itself at the heart of a geopolitical war between the United States and China.
  
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• Coronavirus: Shoppers lost £100m in vouchers expiring in lockdown - Which?

  26-09-2020 02:23 via bbc.co.uk
  
  A quarter of people had vouchers that expired when shops were shut, a survey by Which? suggests.
  
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• Beijing autoshow: Demand rebound, EV boom mix with murky outlook

  26-09-2020 01:05 via uk.finance.yahoo.com
  
  China's auto market has rebounded smartly from the COVID-19 crash in recent months, especially for high-end cars, but questions about the durability of that recovery hung over the Beijing autoshow that started on Saturday.China's auto sales rose 11.6% in August from a year earlier, the fifth straight rise after plunging during the lockdown.Guangzhou-based GAC , which has partnerships with Toyota Motorand Honda Motor , expects sales to grow for the full year, general manager Feng Xingya said on t
  
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• Beijing autoshow: China's back, EVs booming, outlook uncertain

  26-09-2020 01:05 via uk.finance.yahoo.com
  
  China's auto market has rebounded smartly from the COVID-19 crash in recent months, executives said on Saturday, as a rare in-person trade show was dominated by talk of recovery in the world's biggest car market.While conditions have improved vastly from lockdowns that froze economic activity in the country where the pandemic erupted, the Beijing autoshow is a far cry from the usual ebullience as fewer attend, new models are scant and prospects remain uncertain.Doubts remain over the durability
  
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• UK ‘levelling up’ agenda requires more devolution, ex-minister says

  26-09-2020 01:01
  Jim O’Neill believes Covid crisis has shattered belief that ‘Whitehall knows best’
  
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• IMF raises Colombia's credit line to $17.2 bn

  26-09-2020 00:46 via uk.finance.yahoo.com
  
  The International Monetary Fund on Friday announced it had raised by $6.5 billion a credit line offered to Colombia to about $17.2 billion, aiming to help the country cope with the economic effects of Covid-19.
  
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• American Airlines to get $5.5 bn loan from US Treasury

  26-09-2020 00:27 via uk.finance.yahoo.com
  
  American Airlines has agreed to a $5.5 billion loan from the US Treasury as it aims to ride out the downturn caused by the coronavirus, the carrier announced Friday.
  
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• Rise in virus cases adds to economic uncertainty ahead of U.S. election

  26-09-2020 00:24 via uk.finance.yahoo.com
  
  Federal Reserve Chair Jerome Powell has said repeatedly, including several times this week alone, that the strength of the country's economic recovery depends on keeping the novel coronavirus under control -- critical to instilling confidence in Americans that it is safe to resume normal activity.Among the six battleground states, ones that are hotly contested because their population can swing either to Republicans or Democrats, Wisconsin looks particularly troubled less than six weeks before t
  
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• 'Big Four' accounting firm sees upside to climate change

  26-09-2020 00:23 via uk.finance.yahoo.com
  
  One of the world's 'Big Four' accounting firms released a report this week concluding that extreme, "business-as-usual" climate change will benefit a third of the world's economies over the course of the 21st century.
  
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• Facebook gets reprieve from Apple on live events cut

  26-09-2020 00:18 via uk.finance.yahoo.com
  
  Facebook said Friday it struck a deal in which Apple agreed to temporarily forgo its cut of revenue from paid events at the leading social network to help pandemic-hit performers earn money during the pandemic.
  
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