Business news

• Johnson pitches wind-driven recovery from pandemic

  05-10-2020 23:38 via uk.finance.yahoo.com
  
  Prime Minister Boris Johnson will outline plans on Tuesday for Britain to "build back greener" from the coronavirus pandemic by committing funds to boost Britain's offshore wind energy capacity.The 160 million pound ($208 million) investment into ports and factories is part of a drive to quadruple Britain's offshore wind capacity to 40 gigawatts (GW) by 2030.Johnson is under pressure over his handling of the coronavirus pandemic: his government's response has been cast by opponents as slow, poor
  
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• UK new car sales slump to 21-year low in September

  05-10-2020 23:10 via uk.finance.yahoo.com
  
  Registrations fell 33.2 per cent in the first nine months of the year
  
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• Markets flat as Trump leaves hospital – live updates

  05-10-2020 23:05 via uk.finance.yahoo.com
  
  Cinema industry braced for further closures as Cineworld warns over 45,000 job losses The FTSE 100 closed up 0.69pc at 5942.94 Dow Jones closed up 1.68pc at 28148.64 Russell Lynch: Only a planning revolution can help turn renters into ‘Generation Buy’ Sign up here for our daily business briefing newsletter
  
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• FTSE to edge higher after Trump leaves hospital – live updates

  05-10-2020 23:05 via uk.finance.yahoo.com
  
  Cinema industry braced for further closures as Cineworld warns over 45,000 job losses The FTSE 100 closed up 0.69pc at 5942.94 Dow Jones closed up 1.68pc at 28148.64 Russell Lynch: Only a planning revolution can help turn renters into ‘Generation Buy’ Sign up here for our daily business briefing newsletter
  
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• IMF urges infrastructure investment to boost post-COVID growth

  05-10-2020 22:45 via uk.finance.yahoo.com
  
  The International Monetary Fund on Monday said member governments should seize a low interest rate opportunity to invest in infrastructure to drive recovery from the coronavirus pandemic and a shift toward greener energy.The IMF said in chapters from it fiscal monitor that its research shows public investment in infrastructure, including investments in health care systems, digital infrastructure and addressing climate change can pay back more than two to one in economic growth within two years.T
  
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• U.S. SEC sues John McAfee over promoting cryptocurrency offerings on Twitter

  05-10-2020 22:38 via uk.finance.yahoo.com
  
  The regulator, which is seeking a trial by jury, alleged that from at least November 2017 through February 2018, McAfee recommended cryptocurrencies that he was paid to promote, while falsely denying "he was being paid by the issuers.""McAfee leveraged his fame to make more than $23.1 million in undisclosed compensation" by recommending at least seven initial coin offerings or ICOs to his Twitter followers,theSEC said.
  
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• U.S. indicts anti-virus software creator John McAfee for tax evasion

  05-10-2020 22:38 via uk.finance.yahoo.com
  
  The U.S. Justice Department announced the charges shortly after the Securities and Exchange Commission revealed it had brought civil charges against McAfee, alleging that he made over $23.1 million in undisclosed compensation from recommending seven cryptocurrency offerings on Twitter that were materially false and misleading.Despite this income, the Justice Department said he failed to file any tax returns from 2014 to 2018.The SEC has alleged that from at least November 2017 through February 2
  
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• Twitter bans Trump death wishes, sparks debate

  05-10-2020 22:08 via uk.finance.yahoo.com
  
  Twitter is removing tweets hoping for the demise of US President Donald Trump -- a move which opened up the social platform to criticism that it should enforce the same policy for everyone.
  
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• Quarter of employees at gaming firm Ubisoft report misconduct

  05-10-2020 22:01 via uk.finance.yahoo.com
  
  A quarter of employees at the French video game giant Ubisoft have been victims of professional misconduct at work or were witnesses to it, according to a survey carried out by the group following allegations of sexual misconduct.
  
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• ExxonMobil to cut European workforce 11% with 1,600 layoffs

  05-10-2020 21:49 via uk.finance.yahoo.com
  
  US oil and gas giant ExxonMobil announced  Monday it would slash 1,600 jobs in Europe, more than 11 percent of its workforce in the region, as it struggles with the hit from the coronavirus downturn.
  
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• Coronavirus: Donald Trump says 'maybe I'm immune' after leaving hospital

  05-10-2020 21:40 via uk.finance.yahoo.com
  
  Donald Trump has left hospital after being treated for coronavirus.
  
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• Pelosi, Mnuchin continue stimulus negotiations

  05-10-2020 21:25 via uk.finance.yahoo.com
  
  Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi talked again on Monday as they searched for a long-elusive agreement on additional stimulus for the pummeled US economy, a top Pelosi aide said.
  
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• Credit Suisse apologises over black janitor act at chairman's party

  05-10-2020 21:24 via uk.finance.yahoo.com
  
  Credit Suisse apologises over black janitor act at chairman's party. Bank’s former chief executive reportedly walked out of room during act at party last year
  
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• With Bond, you know the ending from the outset. That does not apply at Cineworld

  05-10-2020 21:09 via uk.finance.yahoo.com
  
  With Bond, you know the ending from the outset. That does not apply at Cineworld. Opting for corporate hibernation doesn’t remove cinema chain’s urgent need for fresh funds
  
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• Cineworld's zero-hours staff face no pay as it confirms UK shutdown

  05-10-2020 20:50 via uk.finance.yahoo.com
  
  Cineworld's zero-hours staff face no pay as it confirms UK shutdown. Temporary closures mean many workers could be left without pay from Thursday
  
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• H&M fined €35m for compiling secret database of workers' families, illnesses and religion

  05-10-2020 20:34 via uk.finance.yahoo.com
  
  H&M; was fined £32m and has apologised “unreservedly” to staff in Germany for the illegal surveillance of several hundred employees. The world’s second largest fashion seller kept “excessive” records of its workforce at one of its service centres including details of holidays, medical symptoms and diagnosis for illnesses. The findings come after a year-long investigation by the German data protection watchdog, and it is the second-largest fine a company ha
  
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• Why Corporations Are Turning To Philanthropy

  05-10-2020 20:27 via ibtimes.co.uk
  
  In 2020, more and more corporations are turning to philanthropy to help make a difference to our world. Find out more about why here.
  
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• Covid has highlighted America's flaws, says bank boss Jamie Dimon

  05-10-2020 20:26 via uk.finance.yahoo.com
  
  Covid has highlighted America's flaws, says bank boss Jamie DimonJP Morgan chief says pandemic and George Floyd killing magnify problems of racism and poverty* Coronavirus – latest updates* See all our coronavirus coverage
  
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• China's Didi Chuxing partners with WhatsApp for ride-hailing in Brazil

  05-10-2020 20:05 via uk.finance.yahoo.com
  
  Brazilian ride-hailing service 99, controlled by China's Didi Chuxing Technology Co Ltd, has partnered with WhatsApp to accept orders on the chat platform owned by Facebook in a move that would allow users to summon cars without using another app.The partnership is the first of its kind in the world for Didi, China's biggest ride-hailing company, the companies said, and could give 99 an advantage in competing with U.S.-based Uber Technologies Inc , the market leader in Brazil.WhatsApp has 120 mi
  
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• Mexico unveils $14 bn investment plan to boost economy

  05-10-2020 20:02 via uk.finance.yahoo.com
  
  Mexico announced Monday a $14 billion investment plan in cooperation with the private sector to boost the pandemic-stricken economy through infrastructure projects.
  
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• Questor: momentum is building nicely at 888 so we’ll give the wheel another spin

  05-10-2020 19:52 via uk.finance.yahoo.com
  
  Not every potential turnaround story analysed by this column has actually turned around but 888, the online gambling company, is currently more than justifying our initial interest in July last year. Last week’s interim results showed a surge in profits and an increased dividend. The FTSE 250 firm also said full-year earnings for 2020 would be “significantly ahead” of earlier expectations. The switch in emphasis from the business-to-business gambling services market to the much
  
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• Ferrero nears £250m deal for Fox's Biscuits

  05-10-2020 19:45 via uk.finance.yahoo.com
  
  Italian confectionery giant Ferrero could announce a £250m deal for Britain's Fox's Biscuits as soon as this week. Ferrero Group, which is behind brands such as Nutella and Kinder, is in the final stages of talks over a takeover of one of Britain's biggest biscuit makers. Rivals Burton's Biscuits, which owns the Jammie Dodgers brand, and Biscuit International, one of Europe's largest makers of private label biscuits, had also expressed an interest in Fox's Biscuits. The potential deal was
  
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• Euro appreciation thanks to good COVID-19 response- Eurogroup head

  05-10-2020 19:13 via uk.finance.yahoo.com
  
  The appreciation of the euro against a basket of currencies since the start of the COVID-19 pandemic is to some extent thanks to the euro zone's strong response to the economic slump caused by the virus, the chairman of euro zone ministers said.Paschal Donohoe told a news conference after a meeting of finance ministers of the 19 countries sharing the euro, that they would continue to monitor the exchange rate carefully.
  
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• Peter Thiel enjoys $278m payday after Palantir floats

  05-10-2020 19:11 via uk.finance.yahoo.com
  
  Silicon Valley tycoon Peter Thiel has landed a $278m (£214m) payday by selling shares in his data mining company Palantir in the first two days after its stock market float. Mr Thiel - a former PayPal boss, early Facebook investor and an outspoken supporter of Donald Trump - sold around 27.4m shares last Wednesday and Thursday, filings have revealed. Most cash from the sales went to Mr Thiel personally although some money was netted by two venture capital funds that he helps run, Founders
  
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• EU budget rules to remain suspended in 2021- Commission

  05-10-2020 19:03 via uk.finance.yahoo.com
  
  European Union rules that set limits on government borrowing will remain suspended in 2021 as the 27-nation bloc strives to support a recovery from the recession caused by the COVID-19 pandemic, Economic Commissioner Paolo Gentiloni said.The European Commission, which is in charge of enforcing the fiscal rules, earlier this year suspended EU requirements to keep government deficits below 3% of GDP and to reduce public debt every year as the EU economy entered a record recession."In terms of fisc
  
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• Public investment key to Covid-19 recovery: IMF

  05-10-2020 19:01 via uk.finance.yahoo.com
  
  Public investment should play a "central role" in boosting the economies of emerging and advanced economies as they struggle to recover from the coronavirus downturn, the IMF said Monday.
  
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• British bread maker Hovis gets bid approach from Italy's Newlat Food

  05-10-2020 18:59 via uk.finance.yahoo.com
  
  Milan-listed Newlat Foodsaid on Monday it had made a non-binding offer for Hovis, the 134-year old British bread maker, which is owned by Premier Foodsand The Gores Group.Buying Hovis, one of Britain's best known bread brands, would allow Newlat to expand its consolidated turnover to 1 billion euros (912 million pounds), the Italian group said.Newlat, which makes bakery, dairy and baby food products, said an acquisition of Hovis could create cross-selling opportunities by using the British compa
  
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• Thousands of jobs at risk as Cineworld closes UK and US screens

  05-10-2020 18:57
  Decision to mothball almost 700 cinemas comes as studios delay releases and audiences dwindle
  
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• Earth is not the best place to live, scientists say

  05-10-2020 18:56 via uk.finance.yahoo.com
  
  Earth is not necessarily the best planet in the universe for life, a new study has found.Researchers have found some 24 planets that are "superhabitable", offering conditions more suitable for life than they are here on Earth.The study identified 24 of the “superhabitable” planets.
  
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• ‘Seismic shift’ towards digital chat app among NHS staff during pandemic

  05-10-2020 18:43 via uk.finance.yahoo.com
  
  Microsoft Teams was rolled out across the NHS in March
  
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• Now is the time for big infrastructure projects, says the IMF

  05-10-2020 18:35 via uk.finance.yahoo.com
  
  Now is the time for big infrastructure projects, says the IMFHigher public spending urged as way of boosting employment and GDP at relatively low cost
  
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• Mars to be brighter than it has been in nearly 20 years

  05-10-2020 18:35 via uk.finance.yahoo.com
  
  Nasa says October offers best chance to view red planet since 2003
  
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• Italians eye up bread maker Hovis with takeover bid

  05-10-2020 18:31 via uk.finance.yahoo.com
  
  Bread maker Hovis could be snapped up by Italian firm Newlat Food after more than 130 years of British ownership. The baker's current owners, London-listed Premier Foods and US investment company Gores Group, have been approached by Newlat bosses with an offer which would make the Reggio Emilia-based company one of the largest players in the European food industry. Hovis employs 2,800 people and has eight bakeries, one flour mill and three distribution centres. It has had a string of owners over
  
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• Budget 2020: the people most likely to be left behind

  05-10-2020 18:30 via uk.finance.yahoo.com
  
  Budget 2020: the people most likely to be left behindWithout government attention, certain groups across Australia face far worse long-term consequences from Covid’s economic malaise
  
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• Tax rebate scams more than double as MPs warn vulnerable targets of fresh wave of fraud

  05-10-2020 18:28 via uk.finance.yahoo.com
  
  The number of fraudsters promising bogus tax rebates to unsuspecting citizens has more than doubled over the year, as MPs warn vulnerable targets of a fresh wave of scams. There were close to 41,300 instances of tax rebate scams reported to HM Revenue & Customs in August, up from 18,217 the same time last year, official figures show. Overall there were 74,800 reports of scam emails, text messages and phone calls about tax recorded in August alone, up from 38,222 12 months ago. Over the entir
  
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• Cineworld: 'My job doesn't feel like work'

  05-10-2020 18:25 via bbc.co.uk
  
  With the chain set to temporarily shut its doors and Odeon cutting back too, how do the staff feel?
  
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• J&J to pay more than $100 million to settle over 1,000 talc lawsuits: Bloomberg

  05-10-2020 18:23 via uk.finance.yahoo.com
  
  J&J faces more than 19,000 lawsuits from consumers and their survivors claiming its talc products caused cancer due to contamination with asbestos, a known carcinogen.The company has maintained that its talc is safe.The drugmaker declined to comment on the Bloomberg report but reiterated that its talc is safe, does not contain asbestos and does not cause cancer.
  
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• IMF urges governments to turn on the spending taps

  05-10-2020 18:19 via uk.finance.yahoo.com
  
  Governments could create up to 33m new jobs by opening the spending taps to underpin the post-Covid-19 recovery, the International Monetary Fund has said. The body’s latest Fiscal Monitor stressed the “time is now” for public investment in the wake of the crisis to help reverse a decade of under-spending around the world. If targeted at high-quality projects, the IMF estimates that a 1pc rise in public investment could bolster output by as much as 2.7pc and private investment b
  
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• Rishi Sunak commits to strong public finances and warns of ‘hard choices’

  05-10-2020 18:18
  UK chancellor uses virtual Tory conference speech to stress ‘sacred responsibility’ to balance books after pandemic
  
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• James Bond delay leaves British cinema shaken and stirred

  05-10-2020 18:12 via uk.finance.yahoo.com
  
  Daniel Craig’s James Bond will do anything to save the day, even if some people must suffer to get the job done. But an attempt to ensure 007’s next outing does not fall foul of the pandemic has left a trail of collateral damage even Bond may struggle to brush off. MGM Studios’ decision to delay No Time To Die has sent a shockwave through the industry, with Cineworld temporarily closing scores of cinemas and putting thousands of jobs at risk. It is the latest in a series of pul
  
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• Bank of England official says evidence on negative rates is 'positive'

  05-10-2020 18:08 via uk.finance.yahoo.com
  
  Jonathan Haskel has become the latest Bank of England ratesetter to leave the door open to negative interest rates. The Monetary Policy Committee (MPC) member echoed his colleague Silvana Tenreyro’s open-mindedness about the controversial policy, expressed in an exclusive interview with The Sunday Telegraph last month, in which she said the experience of other countries was "encouraging". He told the Barclays Global Inflation Conference that evidence from the European Central Bank, which t
  
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• Musk to visit SpaceX launchpad after mission aborts, delays

  05-10-2020 17:58 via uk.finance.yahoo.com
  
  The space company last week halted two back-to-back Falcon 9 missions - one packed with 60 SpaceX Starlink satellites and the other carrying a GPS satellite for the U.S. Air Force - over technical issues detected less than 30 seconds before planned liftoff from a launchpad in Florida.SpaceX postponed the Starlink launch to Monday morning, but bad weather forced another delay.
  
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• Palestinian business leader hopes UAE, Bahrain will press Israel to stop settlements

  05-10-2020 17:37 via uk.finance.yahoo.com
  
  A top Palestinian business executive said on Monday that new Gulf Arab ties with Israel, condemned by Palestinian leaders, could also be an opportunity to apply fresh pressure to halt Jewish settlement in occupied land.Bashar Masri, a Palestinian-American who runs two of the Palestinians' largest holding companies, said the Palestinians must find a way to turn agreements Israel struck last month with the United Arab Emirates and Bahrain into "a positive thing for us".Under the U.S.-brokered dipl
  
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• Slack down: App not working as company rushes to find fix for bug that makes messages slow to send – if they appear at all

  05-10-2020 17:26 via uk.finance.yahoo.com
  
  Slack has stopped working, with messages being slow to send – if they appear at all.The workplace messaging app acknowledged the problems and said that it was investigating a fix.Slack – along with other services such as Zoom, and Microsoft’s Teams – have become wildly popular in recent months, as companies look to communicate and collaborate through global lockdowns.
  
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• Euro ministers pick Dutchman Frank Elderson for ECB board job

  05-10-2020 17:26 via uk.finance.yahoo.com
  
  Euro zone finance ministers, called the Eurogroup, choose Dutchman Frank Elderson of to be the successor to Yves Mersch at the executive board of the European Central Bank when Mersch's term ends in December, the chairman of the ministers said."The Eurogroup supports the candidacy of Frank Elderson for the position of new member of the ECB's executive board," Eurogroup President Paschal Donohoe said on Twitter.
  
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• Las Vegas judge rules against Cristiano Ronaldo in rape accuser's civil claim

  05-10-2020 17:25 via ibtimes.co.uk
  
  The judge's ruling will allow Kathryn Mayorga to file a civil claim against the footballer for more than £165,000.
  
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• G-A-Y nightclub owner launches legal action against government over 10pm curfew

  05-10-2020 17:18 via uk.finance.yahoo.com
  
  ‘Enough is enough’ says Jeremy Joseph as he launches judicial review into policy that threatens future of pubs, clubs and restaurants
  
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• Dodds surprised no help for those under localised lockdown

  05-10-2020 17:17 via uk.finance.yahoo.com
  
  Shadow Chancellor Anneliese Dodds says she is surprised Rishi Sunak did not announce any support for those struggling with employment in areas under localised lockdowns.She added the chancellor needed to concentrate on keeping as many people as possible in work, rather than implementing tax cuts.
  
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• Germany's Altmaier vows to avoid another shutdown of industry

  05-10-2020 17:11 via uk.finance.yahoo.com
  
  Germany must avoid another shutdown of industrial activity, Economy Minister Peter Altmaier said on Monday as rising COVID-19 infections cloud the growth outlook for Europe's largest economy.Altmaier said the focus in fighting the pandemic had now shifted to detecting and ring-fencing local infection chains, with family gatherings and private parties proving particularly problematic.
  
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• Odeon to open weekends-only at some cinemas

  05-10-2020 17:04 via bbc.co.uk
  
  The firm will open a quarter of its theatres from Friday to Sunday, but declined to comment on jobs.
  
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