Business news

• Trump paid just $750 in federal taxes in 2016 and 2017 after reporting millions in losses, report claims

  27-09-2020 23:55 via uk.finance.yahoo.com
  
  Donald Trump paid $750 in federal income taxes the year he was elected president and another $750 the following year, 2017, his first in office.Mr Trump for years has been saddled with debt and incurred losses in ways that have allowed him to avoid paying taxes at the rates one might expect for a self-proclaimed billionaire, the New York Times has reported after sifting through years of his long-elusive tax returns.The president has fiercely protected those filings from entering the public spher
  
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• Labour warns more than a million workers ‘consigned to the scrap heap’ in fresh attack on job support scheme

  27-09-2020 22:30 via uk.finance.yahoo.com
  
  Labour has warned that more than a million workers are being “consigned to the scrap heap” in a fresh attack on the Government's Job Support Scheme.The party have said that sectors of the economy that generate billions in tax revenue and employ huge numbers of workers are not covered by the plans.
  
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• London’s West End faces 97% slump in added value, study warns

  27-09-2020 21:53
  Coronavirus restrictions take their toll on capital’s arts and culture sector
  
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• Judge set to rule in TikTok case as deadline looms

  27-09-2020 21:44 via uk.finance.yahoo.com
  
  A federal judge readied a crucial decision Sunday on whether to allow or block a Trump administration ban on downloads of the popular video-sharing app TikTok.
  
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• Science and technology to drive new UK industrial strategy

  27-09-2020 21:27
  White paper to focus on help for underperforming regions and green energy initiatives
  
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• TikTok will survive Donald Trump, US users say

  27-09-2020 20:36 via uk.finance.yahoo.com
  
  "I never thought I would have a voice, but this app has given me one and people have been listening," said Rebecca Fisher-Tringale, explaining her love for social network TikTok, adding, "I never thought it would be possible."
  
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• Top broadcasting roles for Dacre and Moore not ruled out by government

  27-09-2020 20:31
  Dowden refuses to deny the BBC arch-critics have been tapped for jobs as chair of corporation and head of Ofcom
  
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• Culture secretary refuses to deny top roles for BBC arch critics

  27-09-2020 20:31
  Charles Moore tipped to be corporation’s chair and Paul Dacre favourite for Ofcom job
  
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• Culture secretary leaves door open to top roles for BBC arch-critics

  27-09-2020 20:31
  Charles Moore tipped to be corporation’s chair and Paul Dacre to head regulator Ofcom
  
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• Is the UK’s booming housing market heading for a bust?

  27-09-2020 19:51
  Some experts predict that a sharp downturn in the property market is on the way
  
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• Fears of UK house price bust rise after summer sales boom

  27-09-2020 19:51
  Predictions of sharp downturn next year are gaining ground among experts as outlook dims
  
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• Fears that second Covid wave will be ‘knockout punch’ for high streets

  27-09-2020 19:36 via uk.finance.yahoo.com
  
  A second wave of Covid-19 will be a “knockout punch” to Britain’s beleaguered high streets with one in 10 stores at risk of never re-opening. Some 12m square metres of floor space - equivalent to more than 400 shops the size of the flagship John Lewis department store on Oxford Street - will no longer be needed, according to property experts. The warning comes as Rishi Sunak came under attack from Labour for putting more than a million jobs at risk. Lamenting the creation of &l
  
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• FTSE 100 tipped to open higher after markets rise overnight – live updates

  27-09-2020 19:23 via uk.finance.yahoo.com
  
  Fears second Covid wave could be 'knockout punch' for high streets FTSE 100 tipped to open more than 1pc higher Roger Bootle: We're all in this together, but not equally
  
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• Judge prepares ruling after hearing on Trump TikTok download ban

  27-09-2020 19:10 via uk.finance.yahoo.com
  
  A federal judge listened to arguments in a rare Sunday hearing ahead of making a crucial decision on whether to allow or block a Trump administration ban on downloads of the popular video-sharing app TikTok.
  
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• OPEC's Barkindo sees OECD oil stocks below 5-year average after first-quarter 2021

  27-09-2020 19:08 via uk.finance.yahoo.com
  
  Commercial oil inventories in OECD countries are expected to stand slightly above the five-year average in the first quarter of 2021, before falling below that level for the rest of the year, OPEC Secretary General Mohammad Barkindo said on Sunday.The level of oil stockpiles in the developed OECD countries is a key benchmark for the policy of OPEC and its allies."The expected supply and demand balance would result in OECD commercial stocks standing well above the latest five-year average in Q3/2
  
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• Japanese chipmaker Kioxia delays IPO amid US-China tensions

  27-09-2020 18:47 via uk.finance.yahoo.com
  
  Kioxia had planned to list on the Tokyo Stock Exchange on 6 October.
  
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• Regus owner locked in £800m battle with landlords

  27-09-2020 18:25 via uk.finance.yahoo.com
  
  Shared offices provider IWG will this week test the mettle of landlords with the threat of putting a subsidiary that guarantees rent payments into bankruptcy protection. Jersey-based Regus plc, the name best associated with IWG, could be placed into insolvency within days, meaning it will not be on the hook for lease guarantees worth almost £800m. IWG runs serviced offices but does not typically own the buildings. Office tenants are responsible for paying rent to landlords, but Regus plc u
  
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• Regus owner in £800m battle with landlords

  27-09-2020 18:25 via uk.finance.yahoo.com
  
  Shared offices provider IWG will this week test the mettle of landlords with the threat of putting a subsidiary that guarantees rent payments into bankruptcy protection. Jersey-based Regus plc, the name best associated with IWG, could be placed into insolvency within days, meaning it will not be on the hook for lease guarantees worth almost £800m. IWG runs serviced offices but does not typically own the buildings. Office tenants are responsible for paying rent to landlords, but guarantees
  
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• Coronavirus: David Lammy warns that people are 'bubbling out of pubs' due to curfew

  27-09-2020 18:19 via bbc.co.uk
  
  Shadow justice secretary David Lammy says drinkers are likely to continue their night together at home.
  
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• US places sanctions on China's biggest chipmaker

  27-09-2020 17:56 via uk.finance.yahoo.com
  
  The US government has imposed trade sanctions on China’s largest chipmaker in a further escalation of the global trade war that has already ensnared Huawei and TikTok. American suppliers of equipment to Semiconductor Manufacturing International Corporation (SMIC), a key producer of components used in smartphones and other devices, will now have to request permission from Washington to continue working with the company. A letter from the US Department of Commerce sent to business on Friday
  
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• U.S. judge blocks Trump administration's ban on new TikTok downloads

  27-09-2020 17:25 via uk.finance.yahoo.com
  
  A U.S. judge has temporarily blocked a Trump administration order that was set to bar Apple Incand Alphabet Inc's Googlefrom offering Chinese-owned short video-sharing app TikTok for download at 11:59 p.m. on Sunday.U.S. District Judge Carl Nichols in Washington said in a brief order late on Sunday he was issuing a preliminary injunction to prevent the TikTok app store ban from taking effect.Nichols, a nominee of President Donald Trump, declined "at this time" to block other Commerce Department
  
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• U.S. judge blocks Trump administration TikTok app store ban

  27-09-2020 17:25 via uk.finance.yahoo.com
  
  A U.S. judge in Washington late on Sunday temporarily blocked a Trump administration order that was set to bar Apple Incand Alphabet Inc's Googlefrom offering Chinese-owned short video-sharing app TikTok for download at 11:59 p.m. on Sunday.U.S. District Judge Carl Nichols, a nominee of President Donald Trump, who joined the court last year, said in a brief order he was issuing a preliminary injunction to prevent the TikTok app store ban from taking effect.
  
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• Judge plans to decide on TikTok U.S. app store ban by end of day

  27-09-2020 17:25 via uk.finance.yahoo.com
  
  A U.S. judge in Washington said he plans to decide later on Sunday whether to block a Trump administration order banning Apple Inc and Alphabet Inc's Google from offering Chinese-owned short video-sharing app TikTok for download in U.S. app stores.U.S. District Judge Carl Nichols said after a 90-minute Sunday morning hearing that he plans to issue a public order later in the day.The Commerce Department TikTok app store ban is set to take effect at 11:59 p.m. EDT (0359 GMT).
  
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• ECB official warns on strength of euro

  27-09-2020 17:14 via uk.finance.yahoo.com
  
  Speaking at an event in Trento, Visco said: "The euro's recent strengthening is worrying us because it generates further downward pressures on prices at a time when inflation is already low."
  
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• BA backer Qatar Airways lands £1.5bn state bailout

  27-09-2020 17:10 via uk.finance.yahoo.com
  
  The Qatari state handed the biggest shareholder in the owner of British Airways a £1.5bn bailout before the full effects of the coronavirus pandemic were felt. Qatar Airways, which owns a 25pc stake in IAG, will issue the government of the gulf state new shares to cover losses for the year to March 2020. Chief executive Akbar Al Baker blamed “exceptional circumstances” for the airline’s worsening annual performance. The failure of Air Italy and writedowns associated with
  
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• NBA 2020-21 season delay could force players to miss Olympics

  27-09-2020 16:34 via ibtimes.co.uk
  
  The coronavirus pandemic may further affect the Olympics as scheduling conflicts continue to arise.
  
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• NBA: New York congressman insults Knicks, owner retaliates by funding opponent

  27-09-2020 16:24 via ibtimes.co.uk
  
  The Democratic congressman called the team "a disgrace."
  
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• Daimler Investors push for independent chairman as Zetsche bows out

  27-09-2020 16:24 via uk.finance.yahoo.com
  
  Investors welcomed former Daimlerchief executive Dieter Zetsche's decision to forego his role as chairman of the German carmaker, announced at the weekend and starting a race to find an independent head of the company's supervisory board.Zetsche, 67, a former head of the Mercedes-Benz brand, was due to take a seat as chairman of the board of directors at the Stuttgart-based company after a two-year cooling off period.In a surprise move, he announced in an interview in Sunday newspaper the Frankf
  
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• Matt Ratana shooting: Man arrested on suspicion of supplying firearm over police officer's death

  27-09-2020 16:08 via uk.finance.yahoo.com
  
  A man has been arrested on suspicion of supplying a firearm following the fatal shooting of a police officer in a custody suite.
  
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• LeBron James leads LA Lakers back to NBA Finals

  27-09-2020 16:08 via ibtimes.co.uk
  
  The Lakers are gunning for their 17th NBA Championship title.
  
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• Investors fear Wall Street chaos in wake of US election

  27-09-2020 16:00 via uk.finance.yahoo.com
  
  Investors are bracing for severe volatility lasting weeks after the US presidential election as Wall Street frets over a disputed or uncertain result that could rattle financial markets. Futures contracts on the VIX index - also known as the “fear gauge” - suggest investors are expecting a prolonged period of volatility on stock markets amid fears of Donald Trump contesting the result. VIX futures point to investors bracing for the likelihood of “multiple days of volatility&rdq
  
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• BOE policymaker says banks can cope with more pressure from negative rates

  27-09-2020 15:48 via uk.finance.yahoo.com
  
  Silvana Tenreyro defended the potential use of negative interest rates, which could take the cost of borrowing below zero.
  
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• Rugby club honours ‘family member’ and coach Matt Ratana

  27-09-2020 15:46 via uk.finance.yahoo.com
  
  A memorial service has been held for Matt Ratana at East Grinstead Rugby Club where he used to help coach.The club’s vice chairman, Matt Marriott, described the police officer as a “mentor, role model and father figure”, adding he would be “impossible to replace”..
  
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• ECB's Visco says euro's strength is a worry

  27-09-2020 15:40 via uk.finance.yahoo.com
  
  A recent strengthening in the euro's exchange rate is a worry and will warrant a reaction from the European Central Bank if it drags inflation farther away from its goal, ECB policymaker Ignazio Visco said on Sunday.Visco also denied ECB policymakers were divided on the matter and said his views echoed those of the Executive Board."The euro's recent strengthening is worrying us because it generates further downward pressures on prices at a time when inflation is already low," Visco, Italy's cent
  
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• Focus shifts to Commerzbank's strategy after CEO named

  27-09-2020 14:42 via uk.finance.yahoo.com
  
  The nomination of Manfred Knof as chief executive of Germany's Commerzbankpaves the way for an overhaul that could close hundreds of branches and shrink its foreign operations, though any major changes may still take months to formalise.Germany's No. 2 lender, partially-owned by the state, has been in turmoil following the sudden resignation of its CEO and its chairman in early July.Knof, a top manager at rival Deutsche Bank , won its endorsement.
  
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• China's Ping An Insurance cements its place as HSBC's biggest shareholder

  27-09-2020 14:22 via uk.finance.yahoo.com
  
  Before the latest transaction, Ping An held a 7.95% share in the bank.
  
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• No-deal Brexit could mean 'one million job losses'

  27-09-2020 14:17 via uk.finance.yahoo.com
  
  More than 700,000 jobs would be at risk for EU companies that export to Britain if the UK and Brussels continue to butt heads over a deal.
  
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• Unions demand new support ships for aircraft carriers are British-built

  27-09-2020 14:00 via uk.finance.yahoo.com
  
  Shipbuilding unions are demanding assurances that construction of new ships to support the Navy’s aircraft carriers will go to British yards, rather than being farmed out abroad. The call comes after the Fleet Solid Support (FSS) vessels that carry stores such as ammunition and food were reclassified as warships, meaning they had to be built in the UK. Security concerns mean warships must be constructed in Britain. However, until the policy change ministers said FSS ships could be construc
  
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• FoI laws give Upper Crust owner advantage in rail rents row

  27-09-2020 13:49 via uk.finance.yahoo.com
  
  SSP, the owner of Upper Crust and Ritazza coffee, used a ministerial directive obtained under freedom of information laws to gain an advantage in negotiations with railway station owners. The tactic will allow the FTSE 250 company, one of the world’s biggest travel retailers, to slash rents owed to train operators that run most of the UK’s stations, at a cost of millions of pounds to taxpayers. SSP wrote to the train companies saying that it was in receipt of a letter sent by the Dep
  
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• FoI laws give Upper Crust owner advantage in rail rents battle

  27-09-2020 13:49 via uk.finance.yahoo.com
  
  SSP, the owner of Upper Crust and Ritazza coffee, used a ministerial directive obtained under freedom of information laws to gain an advantage in negotiations with railway station owners. The tactic will allow the FTSE 250 company, one of the world’s biggest travel retailers, to slash rents owed to train operators that run most of the UK’s stations, at a cost of millions of pounds to taxpayers. SSP wrote to the train companies saying that it was in receipt of a letter sent by the Dep
  
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• Vets warn time is running out over Brexit food exports red tape

  27-09-2020 13:47
  Fivefold increase forecast in requirement for health certificates
  
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• Italy ramps up pressure on Atlantia to reach motorway unit deal: source

  27-09-2020 13:45 via uk.finance.yahoo.com
  
  Italy is ready to revoke motorway unit Autostrade per l'Italia's (ASPI) lucrative concession if its parent company Atlantia fails to agree a deal over ASPI's future by Wednesday, a government source familiar with the matter said on Sunday.Infrastructure group Atlantia,which is controlled by the Benetton family, has been embroiled in a legal dispute with Rome since the deadly collapse of a bridge in Genoa run by ASPI in 2018.The government has been threatening to strip ASPI of its concession.
  
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• Cressida Dick pays tribute to ‘extraordinary’ Matt Ratana

  27-09-2020 13:13 via uk.finance.yahoo.com
  
  Metropolitan Police Commissioner Cressida Dick has paid tribute to police officer Matt Ratana, describing him as a "larger than life" character and an "extraordinary person".Mr Dick, Home Secretary Priti Patel and London Mayor Sadiq Khan laid wreaths to honour the police officers who have lost thier lives on National Police Memorial Day.
  
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• Is Covid to blame for business closures or is it helping new startups? The answer is both

  27-09-2020 13:00 via uk.finance.yahoo.com
  
  Is Covid to blame for business closures or is it helping new startups? The answer is bothA report found that more than 100,000 restaurants have closed this year, but another says new business applications are up by 19%
  
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• Pizza Hut creditors to vote on restaurant closure plan

  27-09-2020 12:54 via uk.finance.yahoo.com
  
  If passed, the deal will result in the permanent closure of 29 of Pizza Hut UK’s 244 restaurants, putting around 450 jobs at risk.
  
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• EU companies warned of 700,000 job losses in no-deal Brexit

  27-09-2020 12:26
  Research suggests smaller countries could suffer bigger hit relative to size of labour markets
  
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• 20 best apps to get you organised

  27-09-2020 12:00 via uk.finance.yahoo.com
  
  20 best apps to get you organisedFrom improving work productivity to managing shopping lists and family commitments, these apps will help you stay in control
  
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• UK economy has 'very little momentum' ahead of GDP data release

  27-09-2020 11:50 via uk.finance.yahoo.com
  
  How quickly the UK is recovering from the coronavirus will be laid bare on Wednesday, as gross domestic product (GDP) data for the second quarter is published.
  
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• London ‘risks losing insurance business over unsuitable policies’

  27-09-2020 11:45 via uk.finance.yahoo.com
  
  London will lose out to rival insurance markets if it does not reduce reliance on unsuitable standardised policies sold to businesses, according to a new report from insurance adviser Mactavish. The problems that caused confusion over Covid-related business interruption claims are a growing feature of other business insurance contracts, meaning “no one really knows what they are covered for”, said Bruce Hepburn, chief executive of Mactavish. Lloyd’s of London, the City’s
  
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• London 'risks losing insurance business over unsuitable policies'

  27-09-2020 11:45 via uk.finance.yahoo.com
  
  London will lose out to rival insurance markets if it does not reduce reliance on unsuitable standardised policies sold to businesses, according to a new report from insurance adviser Mactavish. The problems that caused confusion over Covid-related business interruption claims are a growing feature of other business insurance contracts meaning "no one really knows what they are covered for", said Bruce Hepburn, chief executive of Mactavish. Lloyd’s of London, the City’s insurance mar
  
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