Business news

• Bank deputy governor warns against negative interest rates

  28-09-2020 23:47 via bbc.co.uk
  
  Sir Dave Ramsden said the central bank was not likely to use negative rates 'imminently'.
  
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• UK seeks to boost job training to help workforce recover from COVID-19

  28-09-2020 23:41 via uk.finance.yahoo.com
  
  Britain will launch training options for adults to learn new skills in an effort to boost productivity and help the country recover from the coronavirus crisis, Prime Minister Boris Johnson will announce on Tuesday.The unemployment rate, already at over 4%, is expected to rise further as a job subsidy scheme put in place early in the pandemic expires next month to be replaced by a scaled-back job support programme.The measures will include funding to allow adults without qualifications to take c
  
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• Global stock markets surge, pound in focus despite Brexit

  28-09-2020 23:36 via uk.finance.yahoo.com
  
  Global markets surged higher Monday as bargain-seekers moved in following sell-offs triggered by virus spikes and the return of some economically damaging containment measures.
  
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• Fiat to pay $9.5 million U.S. fine for misleading investors on emissions audit - SEC

  28-09-2020 23:36 via uk.finance.yahoo.com
  
  Fiat Chryslerwill pay a $9.5 million (£7.4 million) civil penalty to settle allegations it misled investors by not disclosing that it conducted only a limited internal review of its compliance with emissions regulations, the top U.S. securities regulator said on Monday.Fiat Chrysler, which did not admit or deny wrongdoing to resolve the Securities and Exchange Commission (SEC) probe, declined to comment on the fine that stems from the automaker's diesel emissions scandal.The SEC said in Fe
  
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• Johnson to outline new measures to retrain unemployed

  28-09-2020 23:31
  Promise of ‘lifetime skills guarantee’ as some sectors face permanent contraction
  
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• Huawei exec accuses US of misleading Canada in extradition case

  28-09-2020 23:18 via uk.finance.yahoo.com
  
  Chinese Huawei executive Meng Wanzhou and her lawyers returned to a Canadian court on Monday to press for her release, arguing that the United States, by omitting key facts, blatantly misled Canada about her alleged crimes to secure her arrest.
  
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• LVMH countersues Tiffany in bid to drop $16 billion acquisition

  28-09-2020 23:04 via uk.finance.yahoo.com
  
  The move comes after Tiffany sued LVMH earlier this month, objecting to the Paris-based company's decision not to go through with the deal they signed in November because of a French government request and the impact of the coronavirus outbreak.In its counterclaims filed in Delaware Chancery Court on Monday, LVMH said the agreement with Tiffany had no carve-out for pandemics under the definition of a so-called material adverse effect.As a result, Tiffany assumed the risk of a virus outbreak, LVM
  
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• Co-op Funeralcare staff use 'tricks' to boost profits after lockdown

  28-09-2020 22:32 via uk.finance.yahoo.com
  
  Staff at Britain’s biggest funeral provider, Co-op Funeralcare, are using “tricks” to increase the profits it makes from families bereaved in the wake of the coronavirus lockdown, The Telegraph can disclose. Branches in south London received emails from their boss encouraging them to steer clients toward more expensive funerals and to restrict more affordable options to unpopular times of day to make them less attractive. The company, which took £300 million in revenues f
  
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• The 'hard sell' awaiting the bereaved

  28-09-2020 21:51 via uk.finance.yahoo.com
  
  The Co-op is a household name when it comes to funerals, with plaques in branches promising customers that it will handle them with “care, respect, clarity and reassurance”. It claims to recognise how expensive the process of laying a loved one to rest can be, and commits itself to guiding families towards a funeral they can afford. But an investigation by this newspaper has raised major question marks over some of those undertakings. The Telegraph found one senior manager dictating
  
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• Former Amazon finance manager charged with making $1.4m from insider trading

  28-09-2020 21:46 via uk.finance.yahoo.com
  
  A former Amazon finance manager has been charged with insider trading after allegedly tipping off her husband to the company’s financial performance in advance of earning announcements. Laksha Bohra, her husband Viky Bohra and his father, Gotham Bohra, were charged by the Securities and Exchange Commission on Monday, accused of illicitly making $1.4m (£1.1m) between January 2016 and July 2018. Bohra, a senior manager in Amazon’s tax department, was responsible for preparing and
  
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• U.S. faces ongoing court battles over TikTok, WeChat bans

  28-09-2020 21:44 via uk.finance.yahoo.com
  
  The Trump administration faces ongoing court battles after two legal setbacks in its efforts to bar U.S. app stores from offering Chinese-owned TikTok or WeChat for download.In two separate rulings, judges have questioned the evidence that data from American users is being accessed by the Chinese government imperiling U.S. national security that prompted the extraordinary orders by the U.S. Commerce Department.U.S. District Judge Carl Nichols, who issued an order late Sunday blocking the TikTok
  
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• Questor: its strong finances mean Whitbread will survive where others may not. Hold

  28-09-2020 21:27 via uk.finance.yahoo.com
  
  A reversal of the Government’s efforts to encourage a return to work and wider social activity is not what any of us wanted to see for so many reasons. Looked at through the narrow prism of share prices, it is not a welcome development, especially when it comes to Whitbread, the owner of Premier Inn. Our main worry when we looked at the stock in May was the risk of a second wave and the impact that could have on any nascent recovery. Such fears now seem well founded and, while there are mo
  
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• ‘Who would give me a refund?’: Trump bragged about tax avoidance, Cohen says

  28-09-2020 21:20 via uk.news.yahoo.com
  
  According to a recent New York Times report, Trump only paid $750 in income tax in 2016 and 2017
  
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• Boris Johnson orders peace talks as Tory rebel anger grows

  28-09-2020 21:18
  Backlash over coronavirus restrictions gathers pace as new list of offences published
  
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• Bike-to-work fee changes fail to satisfy retailers

  28-09-2020 21:17
  Shops still unhappy over ‘fundamental flaws’ and costs in Cyclescheme’s operation
  
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• United Airlines, pilots union reach deal to avert layoffs

  28-09-2020 21:15 via uk.finance.yahoo.com
  
  United Airlines reached an agreement with its pilots union to avert furloughs of 2,850 pilots amid a congressional stalemate on a new federal relief package, the two sides said Monday.
  
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• Trump tax returns: What happens to the president now – and will anything be done?

  28-09-2020 20:58 via uk.finance.yahoo.com
  
  Voters and the IRS will decide whether there is any tangible fallout from bombshell report
  
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• Amazon sets October 13-14 for 'Prime Day' global mega-sale

  28-09-2020 20:35 via uk.finance.yahoo.com
  
  Amazon on Monday announced the new date for its annual global mega-sale, which it said aims to promote small and medium-sized businesses despite accusations by numerous lawmakers and trade associations that the retail giant is trying to crush competition.
  
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• Bet on a one-horse race when it comes to William Hill takeover

  28-09-2020 20:30 via uk.finance.yahoo.com
  
  Bet on a one-horse race when it comes to William Hill takeoverCaesars Entertainment is likely to see off rival Apollo before the action has properly started
  
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• Food industry warns on post-Brexit trade with N Ireland

  28-09-2020 20:25
  Government urged to provide greater clarity as members weigh costs of regulatory border
  
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• 'Possible Covid-19 exposure': NHS app users receive concerning notifications – but don't necessarily need to self-isolate

  28-09-2020 20:21 via uk.finance.yahoo.com
  
  The notification only means that the system is looking at a possible exposure, not that the system has definitely been triggered.The app's official Twitter account confirmed that users will be sent a specific notification if they are judged to be at high enough risk to need to self-isolate, and that message will be separate from the one indicating that they have been subject to a possible exposure.Many users of the app – which was released last week – have reported receiving concerni
  
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• Dial Summit 24th Sept 2020

  28-09-2020 19:58 via uk.finance.yahoo.com
  
  Dial Summit 24th Sept 2020
  
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• General Electric's GE9X jet engine wins certification from U.S. regulator

  28-09-2020 19:55 via uk.finance.yahoo.com
  
  The coronavirus crisis compounded that hold up this year as demand for air travel plunged, with Boeing saying in July it was delaying the 777X's entry to service by a year to 2022.GE said on Monday it has received orders and commitments for more than 600 GE9X engines, and has delivered eight GE9X test engines and two test spares for Boeing's four 777X test aircraft.
  
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• Study says Google market power has grown despite EU order to play fair

  28-09-2020 19:52 via uk.finance.yahoo.com
  
  U.S. tech giant Alphabet Inc'sGoogle has boosted its market power in the three years since EU antitrust enforcers ordered it to stop favouring its own price comparison shopping service, a study of 25 of its rivals showed on Monday.Hit with a 2.4-billion-euro (£2.18 billion) fine three years ago by the European Commission for the offence, Google subsequently offered to allow competitors to bid for advertising space at the top of a search page to channel traffic to their sites.Rivals however
  
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• The billionaire Blackburn brothers set to take over Asda

  28-09-2020 19:47 via uk.finance.yahoo.com
  
  Zuber and Mohsin Issa learnt about hard graft from an early age. Brought up in a terraced house in Lancashire, their parents had moved from India in the 1970s to work in the textile industry. By the early Noughties, the brothers - who are now aged 48 and 49 respectively – had saved up enough money to buy their first petrol station in Bury, Greater Manchester. Fast forward 19 years and not only are they one of the biggest forecourt and convenience store operators in the world, they are on t
  
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• Boost for HSBC as major Chinese investor Ping An increases stake

  28-09-2020 19:36 via uk.finance.yahoo.com
  
  Boost for HSBC as major Chinese investor Ping An increases stakeMove halts slump in share price after money-laundering claims and US-China spat
  
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• Tight inventories set the stage for U.S. auto industry rebound

  28-09-2020 19:33 via uk.finance.yahoo.com
  
  U.S. automakers are facing a problem most forecasters and industry executives did not expect when the pandemic slammed the economy this spring: Strong demand and lean inventories at dealerships.Automakers report September U.S. sales on Thursday, and forecasters expect the annualized sales pace will exceed the August rate of 15.2 million vehicles.Consumer demand for high-profit SUVs and pickup trucks has recovered rapidly since the spring.
  
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• Huawei exec to accuse US of misleading Canada in extradition case

  28-09-2020 19:32 via uk.finance.yahoo.com
  
  Chinese Huawei executive Meng Wanzhou and her lawyers returned to a Canadian court on Monday to press for her release, arguing the US misled Canada about her alleged crimes to secure her detention on foreign soil.
  
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• The Morrison government is no longer fixated on a surplus – but for how long?

  28-09-2020 19:30 via uk.finance.yahoo.com
  
  The Morrison government is no longer fixated on a surplus – but for how long?. There is little sense the government is concerned about improving on the troubled state the economy was in before the virus
  
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• U.S. income inequality narrowed slightly over last three years: Fed

  28-09-2020 19:29 via uk.finance.yahoo.com
  
  Income inequality in the United States narrowed in the first three years of the Trump administration as rising wages and a low unemployment rate fueled gains for lower-income and less educated families, according to U.S. Federal Reserve data released on Monday.Wealth inequality was largely unchanged, with the top 10% of families holding about 71% of family wealth in 2019, roughly the same as in 2016, the Fed found in its latest Survey of Consumer Finances, conducted every three years.The survey
  
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• Google to enforce Play store tax on the 3% of apps not paying

  28-09-2020 19:21 via uk.finance.yahoo.com
  
  Alphabet Inc'sGoogle on Monday sought to rebut criticism that it selectively enforces its 30% mobile app store tax, demanding that the over 3% apps selling digital items without complying follow the rules within a year.The change follows lawsuits by "Fortnite" video game maker Epic Games last month accusing Google and Apple Incof anticompetitive conduct.App stores are a fast-growing business as sales of Google's search ads and Apple's iPhone flatten out.
  
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• Google says 3% of paid apps non-compliant on Play store tax

  28-09-2020 19:21 via uk.finance.yahoo.com
  
  Alphabet Inc'sGoogle on Monday sought to rebut criticism that it enforces its 30% tax on sales of paid apps arbitrarily, saying the just over 3% of paid apps that are out of compliance must follow the rules within a year.The announcement follows lawsuits last month by "Fortnite" video game maker Epic Games accusing Google and Apple Incof anticompetitive conduct by requiring that their payment systems be used in apps, so that they can collect a portion of sales.App stores are a fast-growing busin
  
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• United Airlines pilots avert layoffs, other workers hope for bailout

  28-09-2020 19:20 via uk.finance.yahoo.com
  
  United Airlines'pilots voted on Monday to accept a deal that would avert 2,850 furloughs set for Thursday, while thousands of other U.S. airline employees are hoping Congress will extend federal aid to save their jobs.An initial $25 billion government bailout that covered airlines' payrolls and protected jobs for six months expires on Sept. 30, driving a fervent last-minute push by the industry for Congress to agree on a fresh stimulus package.Chicago-based United has already put in motion steps
  
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• Donald Trump's TikTok ban is probably illegal, rules US judge

  28-09-2020 19:15 via uk.finance.yahoo.com
  
  Donald Trump's threat to ban TikTok from United States app stores probably exceeded his legal powers and would hurt American citizens, a judge has ruled. In an order unsealed on Monday, US district judge Carl J Nichols said TikTok's appeal against the ban was "likely to succeed" and that it would suffer "irreparable harm" from even a temporary stop. The Chinese viral video app is attempting to overturn an order by Donald Trump and his commerce secretary, Wilbur Ross, that would force Google and
  
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• U.S. appeals at WTO to place Canada lumber case in legal void

  28-09-2020 19:04 via uk.finance.yahoo.com
  
  The United States is appealing at the World Trade Organization against a ruling that largely favoured Canada in a long-running dispute over lumber, putting the case into a legal void.A three-person WTO panel determined in August that U.S. duties, designed to counter Canadian subsidies on softwood lumber, breached global trading rules.The United States notified the WTO on Monday that it had decided to appeal.
  
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• Markets in third quarter: The charge before the storm

  28-09-2020 18:58 via uk.finance.yahoo.com
  
  Fuelled by over $20 trillion of global stimulus and super-charged tech stocks, MSCI's world stocks index piled on 14% over July and August to reclaim the record highs it surrendered in February when COVID first spiralled.Oil gained a further 10%, August saw sustained moves out of government bond and gold bolt holes, video app Zoom kept zooming and even the world's poorest countries were on a tear in debt markets.World stocks shuddered, giving back over 8% in three weeks, and led down for once by
  
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• PS5: Travis Scott shows off new PlayStation 5 weeks before release date

  28-09-2020 18:07 via uk.finance.yahoo.com
  
  Rapper Travis Scott seems to have access to the PlayStation 5, weeks ahead of its release date.Scott posted a picture on Instagram of himself and the new Dualshock controller from the newly console.While he did not show the PS5 itself, the caption suggested that he is playing the console, which has yet to be publicly released.
  
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• Difficult to find fairness amid the Covid crisis

  28-09-2020 18:04 via uk.finance.yahoo.com
  
  Difficult to find fairness amid the Covid crisis. Readers air their views on economic and generational issues in the UK
  
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• Covid second wave hits recovery in UK high streets, data suggests

  28-09-2020 18:04 via uk.finance.yahoo.com
  
  Covid second wave hits recovery in UK high streets, data suggests. Footfall drops back since first week of September and is a third lower than last year
  
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• Negative rates could punch £25bn hole in pension schemes

  28-09-2020 17:57 via uk.finance.yahoo.com
  
  Negative interest rates could punch another £25bn hole in gold-plated pension funds, experts have warned. The Bank of England has already cut interest rates to a record low 0.1pc but are weighing up whether to go further in an effort to boost economic activity during the pandemic. Silvana Tenreyro, a member of the Monetary Policy Committee that sets interest rates, told The Telegraph on the weekend that evidence from other countries to have adopted sub-zero interest rates was “encour
  
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• BoE deputy governor opposes negative interest rates

  28-09-2020 17:57
  Dave Ramsden says current benchmark is the ‘effective lower bound’
  
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• Working from home: Can you claim money for heating or internet bills from the government or your employer?

  28-09-2020 17:52 via uk.finance.yahoo.com
  As people face potentially another six months of working from home, how can you keep costs down?
  
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• Naked and muddy toddler found wandering alone in Oxford

  28-09-2020 17:49 via ibtimes.co.uk
  
  The child, thought to be four years old, was found alone on the streets and was handed over to the police.
  
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• ECB's Schnabel floats radical ideas for green stimulus

  28-09-2020 17:49 via uk.finance.yahoo.com
  
  The European Central Bank could step up its purchases of "green" bonds and avoid those that it deems unfriendly to the environment to help finance the euro zone's fight against climate change, ECB board member Isabel Schnabel said on Monday.Floating some of the most radical ideas to have come from an ECB policymaker, Schnabel was opening the door to a green shift championed by new President Christine Lagarde after being resisted by her predecessor, Mario Draghi, for going beyond the central bank
  
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• New prosthetic hand can give almost all functionality back to amputees, researchers claim

  28-09-2020 17:48 via uk.finance.yahoo.com
  
  The hand has three settings for different grips, and moves based on eletrical signals in the wearer’s muscles
  
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• NTT to take full control of wireless unit NTT Docomo for $38 billion - Nikkei

  28-09-2020 17:44 via uk.finance.yahoo.com
  
  Japanese telecoms company Nippon Telegraph and Telephonewill take full control of its wireless carrier business NTT Docomo Incfor 4 trillion yen ($37.89 billion), the Nikkei business daily reported on Tuesday.Japan's largest telecoms company will seek to buy the remaining 34% of NTT Docomo and delist the business from the Tokyo stock exchange, the Nikkei said.The move is intended to allow NTT Docomo to better respond to pressure from the government to cut mobile fees, according to the report.
  
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• Japan's NTT to take full control of wireless unit Docomo for $38 bln - Nikkei

  28-09-2020 17:44 via uk.finance.yahoo.com
  
  Japanese telecoms group Nippon Telegraph and Telephonewill take full control of its wireless carrier business NTT Docomo Incfor about 4 trillion yen (£29.58 billion), the Nikkei business daily reported on Tuesday.The move comes as Japan's new prime minister Yoshihide Suga launches a fresh attempt to push the country's top three mobile phone carriers into cutting carrier fees.A deal will have broad implications for the sector, with any cuts in fees expected be followed by NTT's peers KDDI C
  
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• Japan's NTT to take full control of wireless unit Docomo for $38 billion - Nikkei

  28-09-2020 17:44 via uk.finance.yahoo.com
  
  Japanese telecoms group Nippon Telegraph and Telephonewill take full control of its wireless carrier business NTT Docomo Incfor about 4 trillion yen (29.45 billion pounds), the Nikkei business daily reported on Tuesday.The move comes as Japan's new prime minister Yoshihide Suga has criticised Japan’s top three mobile phone carriers including NTT Docomo, saying he wants more competition and lower rates.NTT will seek to buy the remaining 34% of NTT Docomo and delist the business from the Tok
  
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• Japan's NTT eyes taking wireless unit Docomo private in potential $38 bln offer

  28-09-2020 17:44 via uk.finance.yahoo.com
  
  Japanese telecoms group Nippon Telegraph and Telephonesaid it is looking at taking full control of its wireless carrier business NTT Docomo Inc , in a tender offer that could be worth around 4 trillion yen (£29.59 billion).The value of the 34% of NTT Docomo's shares not owned by NTT is based on a 30% premium to Monday's closing price.The move comes as Japan's new prime minister Yoshihide Suga launches a fresh attempt to push the country's top three mobile phone carriers into cutting carrie
  
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• MP Claudia Webbe 'suspended from Labour' after harassment charge

  28-09-2020 17:43 via uk.finance.yahoo.com
  
  MP Claudia Webbe has been suspended from Labour after being charged with harassment, the Standard understands.The Crown Prosecution Service (CPS) announced the charge against the 55-year-old, who represents Leicester East, on Monday after being passed a file of evidence by Metropolitan Police.
  
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