Business news

• Facebook, Instagram ban QAnon conspiracy linked accounts

  06-10-2020 23:58 via uk.finance.yahoo.com
  
  Facebook on Tuesday announced a ban on all accounts linked to the QAnon conspiracy group at the leading social network and its image-sharing community Instagram.
  
  Read more

• US stocks tumble as Trump scotches stimulus talks

  06-10-2020 23:55 via uk.finance.yahoo.com
  
  Wall Street stocks tumbled into the red as President Donald Trump pulled the plug on stimulus talks, apparently ending the prospect for another big fiscal package until after the US election.
  
  Read more

• NHS Covid tests under threat following Roche supply chain problem

  06-10-2020 23:21 via uk.finance.yahoo.com
  
  NHS coronavirus tests such as swabs are under threat following a supply chain problem with pharmaceutical giant Roche.Concerns have been raised over the supply of vital testing materials for a range of conditions, including Covid-19.
  
  Read more

• Trump calls off stimulus talks, Fed says recovery faster with aid

  06-10-2020 23:19 via uk.finance.yahoo.com
  
  President Donald Trump on Tuesday called off talks on a new stimulus plan to juice the Covid-ravaged US economy until after the election, sending Wall Street plunging and upending recent progress made in the long-delayed negotiations.
  
  Read more

• Advertisement

• 'Kid influencers' regulated under new French law

  06-10-2020 23:17 via uk.finance.yahoo.com
  
  When kids become YouTube or Instagram sensations, should they be considered child workers? And who looks after their money? The French parliament has attempted to answer those questions with a new law passed on Tuesday.
  
  Read more

• Facebook to ban QAnon-themed groups, pages and accounts in crackdown

  06-10-2020 23:16 via uk.finance.yahoo.com
  
  Facebook to ban QAnon-themed groups, pages and accounts in crackdownPolicy update comes after the company’s initial attempt failed to stem misinformation and harm from the conspiracy movement
  
  Read more

• Market report: Watches of Switzerland ticks upwards

  06-10-2020 23:02 via uk.finance.yahoo.com
  
  It was go time for Watches of Switzerland shares today, with the group soaring a quarter higher after revealing resilient results and raising its sights for the rest of the year. The retailer rose 86.5p to 420p after raising its guidance, following booming sales since the start of the quarter. The FTSE 250 group said revenues for the first 10 weeks of its second quarter (from the start of August) were 20.2pc higher than 2019 on a constant-currency basis. Its performance in the UK “continue
  
  Read more

• Government 'likely to miss' 2025 target for fibre broadband in every home

  06-10-2020 23:00 via uk.finance.yahoo.com
  
  Government 'likely to miss' 2025 target for fibre broadband in every homeSocial Market Foundation report says problems over pricing and remote areas must be addressed
  
  Read more

• Advertisement

• U.S. lawmakers detail Big Tech's market abuses and press for strict reform

  06-10-2020 22:51 via uk.finance.yahoo.com
  
  The antitrust subcommittee of the Judiciary Committee recommended that Alphabet Inc's Google, Apple Inc, Amazon.com and Facebook should not both control and compete in related businesses, but stopped short of saying a specific company should be broken up.The scathing 449-page report described dozens of instances where the companies misused their power, revealing corporate cultures apparently bent on doing what they could to maintain dominance over large portions of the internet.
  
  Read more

• US investigation says tech companies may need breaking up to curb 'monopoly power'

  06-10-2020 22:51 via uk.finance.yahoo.com
  
  The world's biggest tech companies must not be allowed to compete with rival businesses on their own platforms and may even need to be broken up, an investigation from US politicians has concluded. Democrats on the House Judiciary Committee's antitrust panel published a series of proposals to curb the "monopoly power" of Apple, Amazon, Google and Facebook. It follows a probe into the tech giants that lasted more than a year. The recommendations include closer scrutiny of future technology merger
  
  Read more

• U.S. congressional panel finds Big Tech abuses power but does not urge break-up

  06-10-2020 22:51 via uk.finance.yahoo.com
  
  The panel, an antitrust subcommittee of the Judiciary Committee, recommended that Alphabet Inc'sGoogle, Apple Inc , Amazon.comand Facebookshould not both control and compete in related business activities but stopped short of saying they should be broken up.Facebook, Apple and Google and did not have an immediate comment.
  
  Read more

• Microsoft denies U.S. suggestion that diversity commitments may be illegal

  06-10-2020 22:44 via uk.finance.yahoo.com
  
  In a blog post, General Counsel Dev Stahlkopf said the denial was in response to a letter Microsoft received last week from the U.S. Department of Labor's Office of Federal Contract Compliance Programs.
  
  Read more

• Microsoft denies U.S. suggestion its diversity plan illegally discriminates by race

  06-10-2020 22:44 via uk.finance.yahoo.com
  
  The denial came in a blog post responding to a letter Microsoft received last week from the Labor Department's Office of Federal Contract Compliance Programs concerning an initiative announced by Chief Executive Satya Nadella on June 23.General Counsel Dev Stahlkopf said the Labor Department letter suggested that Microsoft's initiative "appears to imply that employment action may be taken on the basis of race," and asked the company to prove its efforts to improve opportunities were not illegal
  
  Read more

• FAA issues new proposed Boeing 737 MAX pilot training procedures

  06-10-2020 22:28 via uk.finance.yahoo.com
  
  The Federal Aviation Administration (FAA) on Tuesday issued a draft report on revised training procedures for the Boeing737 MAX, a key milestone to the plane's eventual ungrounding.The FAA said the draft Flight Standardization Board report would be open for public comment through Nov. 2 before the procedures are finalized.The proposal adds new training requirements to deal with a key safety system called MCAS tied to two fatal crashes that killed 346 people and led to the plane's grounding in Ma
  
  Read more

• UK Finance names new boss after sexism storm

  06-10-2020 22:22 via uk.finance.yahoo.com
  
  Britain’s largest bank lobby group UK Finance has chosen David Postings as its new chief executive, as it seeks to recover from a sexism row earlier this year. Mr Postings, the former chief executive of Bibby Financial Services and Moneycorp, will be taking up the post from next January, UK Finance said last night. It said his appointment had received the unanimous support of the board. The appointment was first reported by Sky News. Mr Postings is currently a non-executive director at UK
  
  Read more

• USTR Lighthizer says U.S. trade policies working despite August trade deficit jump

  06-10-2020 22:08 via uk.finance.yahoo.com
  
  U.S. Trade Representative Robert Lighthizer said on Tuesday that the higher U.S. trade deficit in 2020 has been largely due to non-monetary gold imports and that President Donald Trump's trade policies were working despite a $67.1 billion August trade deficit that was the largest in 14 years.In a statement, Lighthizer said the larger August trade deficit was due to the stronger performance of the U.S. economy amid the coronavirus compared to those of its G7 trading partners."Basically, many of o
  
  Read more

• Airline shares dive as Trump spikes stimulus talks

  06-10-2020 22:07 via uk.finance.yahoo.com
  
  Airline shares tumbled Tuesday after President Donald Trump ended talks with congressional leaders on another fiscal stimulus package until after the November elections.
  
  Read more

• GE receives notice from U.S. regulator of possible civil action

  06-10-2020 22:05 via uk.finance.yahoo.com
  
  In a regulatory filing, the U.S. industrial conglomerate said the issues the regulator could pursue relate to the company's run-off insurance operations - a portfolio of about 300,000 long-term care insurance policies it holds in its GE Capital unit.Securities regulators opened a probe into the company's accounting practices after the massive insurance charge.GE, however, said the Wells notice is neither a formal allegation nor a finding of wrongdoing.
  
  Read more

• Pilot accused of falsifying licence and log book to land British Airways job

  06-10-2020 21:59 via uk.finance.yahoo.com
  
  A pilot has been accused of falsifying his licence and log book to land a job at British Airways. Craig Butfoy, 48, is said to have made similar false claims to get work with Irish regional airline Stobart Air. He has been charged with eight counts of fraud by false representation between April 2016 and March 2017 in a prosecution brought by the Civil Aviation Authority (CAA). Five of the charges allege Butfoy committed fraud "intending to make a gain, namely obtaining a job with BA CityFlyer",
  
  Read more

• Facebook removes Donald Trump post for spreading coronavirus myths

  06-10-2020 21:50 via uk.finance.yahoo.com
  
  Facebook has removed a post by President Donald Trump that claimed Covid-19 is "far less lethal" than the flu less than 24 hours after being discharged from hospital with the disease. The social media giant said Mr Trump had broken its rules against dangerous misinformation by wrongly playing down the "severity" of coronavirus. With less than a month to go until the 2020 United States election, it is the second time that Facebook has removed a post from Mr Trump's own account for false informati
  
  Read more

• US to tighten rules for visas used by tech firms

  06-10-2020 21:44 via uk.finance.yahoo.com
  
  President Donald Trump's administration on Tuesday unveiled a tightening of rules for immigration visas used widely by technology firms, claiming the new system would be better for American workers.
  
  Read more

• Tesla's quarterly report could land Musk another $3 billion

  06-10-2020 21:34 via uk.finance.yahoo.com
  
  The electric car maker on Tuesday saw the six-month average of its stock market value hit $250 billion, a milestone toward triggering the fourth of 12 tranches of options to buy Tesla stock at a discount, granted to the billionaire in his 2018 pay package.Musk's compensation is exclusively made up of a series of potential stock options rewards based on market capitalization and operational goals.To secure Musk's fourth tranche, Tesla still must hit a goal related to revenue or profitability, and
  
  Read more

• Banking industry sounds alarm on Johnson’s housing plan

  06-10-2020 21:33
  Trade body warns against irresponsible lending after PM proposes low-deposit mortgages
  
  Read more

• Ikea plans 50 store openings even as shoppers move online

  06-10-2020 21:22 via bbc.co.uk
  
  The furniture giant says demand is rising after lockdown as people seek to do up their homes.
  
  Read more

• Global central bankers say fiscal aid crucial in new phase of pandemic battle

  06-10-2020 21:14 via uk.finance.yahoo.com
  
  Hopes for new fiscal support in the United States, however, were dealt a serious blow when President Donald Trump abruptly canceled ongoing negotiations with Democrats in the U.S. House of Representatives.The growth in new COVID-19 cases is again accelerating in parts of the United States and Europe, raising the prospect of new restrictions on commerce even as whole industries and millions of households are still reeling from those imposed in the spring during the first viral wave, and local gov
  
  Read more

• Central bankers call for fiscal aid at 'critical' point in pandemic battle

  06-10-2020 21:14 via uk.finance.yahoo.com
  
  The growth in new cases of COVID-19 is again accelerating in parts of the United States and Europe, raising the possibility of new restrictions on commerce even as whole industries and millions of households are still reeling from those imposed in the spring during the first viral wave.Early action from the Fed and the approval by Congress of trillions of dollars in direct aid to companies and families has avoided the worst outcomes "so far," Powell said.
  
  Read more

• UK plan to introduce COVID-19 testing for international arrivals won't come until November - The Guardian

  06-10-2020 21:02 via uk.finance.yahoo.com
  
  The government is planning to announce the launch of the taskforce, set up at the request of Prime Minister Boris Johnson on Thursday, on Thursday and which will be jointly chaired by transport minister Grant Shapps and health minister Matt Hancock, the report added.Last month, Airlines including British Airways and EasyJet urged the UK government to introduce coronavirus testing as an alternative to quarantine by the end of the month, in what they described as a "last chance" to save the indust
  
  Read more

• Rapid spread of Covid infections in England prompts calls for tougher curbs

  06-10-2020 20:50
  Rates in northern England soar while London mayor warns of tipping point
  
  Read more

• Facebook pulls Trump post for minimizing Covid-19 danger

  06-10-2020 20:30 via uk.finance.yahoo.com
  
  Facebook on Tuesday removed a post by US President Donald Trump for downplaying Covid-19 danger by saying the season flu is more deadly, in a rare step against the American leader by the leading social network.
  
  Read more

• US recovery would be stronger, faster with more aid: Fed's Powell

  06-10-2020 20:27 via uk.finance.yahoo.com
  
  The US recovery from the pandemic downturn would be "stronger and faster" with more government aid to protect against the possibility of accelerating job losses, Federal Reserve chief Jerome Powell said Tuesday.
  
  Read more

• Fed chair warns of 'tragic' consequences without further Covid relief

  06-10-2020 20:26 via uk.finance.yahoo.com
  
  Fed chair warns of 'tragic' consequences without further Covid relief. Jerome Powell says risk of providing too little support outweighs risk of providing too much
  
  Read more

• Johnson's wind power dream to cost £50bn, analysts say

  06-10-2020 19:51 via uk.finance.yahoo.com
  
  The prime minister's pledge to power every home in the country with offshore wind turbines by 2030 will cost £50bn and require massive reform of the power market, experts have warned. Speaking at the Tory party conference on Tuesday, Boris Johnson set in stone a manifesto target to quadruple offshore wind capacity to 40GW within the decade. Experts at Aurora Energy Research calculate that it will cost the private sector about £50bn to deliver the increased capacity, about twice as mu
  
  Read more

• GSK tells UK staff: turn off Covid test-and-trace app while at work

  06-10-2020 19:36 via uk.finance.yahoo.com
  
  GSK tells UK staff: turn off Covid test-and-trace app while at workDrugs company says infection controls at some of its sites are so secure the app is not needed* Coronavirus – latest updates* See all our coronavirus coverage
  
  Read more

• Johnson’s green vision needs more than hot air

  06-10-2020 19:28
  The UK government’s climate pledge requires a coherent policy plan
  
  Read more

• Up to 400 jobs to go at Virgin Money

  06-10-2020 19:06 via uk.finance.yahoo.com
  
  The high street lender confirmed the positions are set to go as part of its integration following a £1.7bn takeover by CYBG in 2018.
  
  Read more

• Venezuela sends two more of its own oil tankers to deliver exports- data

  06-10-2020 19:02 via uk.finance.yahoo.com
  
  Venezuela's state-run oil company PDVSA is resorting to using its own tankers to deliver exports as tightening sanctions by Washington deter shipowners and managers from visiting the South American nation's oil ports.The tankers Colon - previously known as Arita - and Parnaso set sail in September from PDVSA's terminals, but had not turned their location transponders on until this week, the data showed.
  
  Read more

• Apple sets unveil for Oct 13 amid 5G iPhone speculation

  06-10-2020 18:58 via uk.finance.yahoo.com
  
  Apple scheduled a media event for October 13 amid expectations it would unveil one or more new iPhones which use ultrafast 5G wireless technology.
  
  Read more

• France eases ban on bee-threatening pesticide to help sugar sector

  06-10-2020 18:57 via uk.finance.yahoo.com
  
  French lawmakers on Tuesday approved a draft bill allowing sugar beet growers to use pesticides that are banned to protect honeybees, a move welcomed by farmers hit by crop disease but condemned by green groups as more backsliding by the government.The proposal, which contradicts a promise by President Emmanuel Macron during his presidential campaign not to modify the ban on pesticides known as neonicotinoids, aims to help a sugar industry weakened by a price slump that has led to factory closur
  
  Read more

• French nuclear output fell 20.9% in September on pandemic, outages

  06-10-2020 18:55 via uk.finance.yahoo.com
  
  French utility EDFsaid on Tuesday that nuclear power generation at its reactors in France dropped by 20.9% to 21.7 terawatt hours (TWh) year-on-year in September due to the effects of the coronavirus pandemic and reactor outages.It said total generation in France since the start of the year was 241.1 TWh, compared with 288.2 TWh in 2019, down 16.3%.EDF said its cumulative nuclear generation output in Britain since the start of the year was 32.6 TWh, down 11.5% compared with the same period in 20
  
  Read more

• Swedish economy dodges Covid bullet, says Danske Bank

  06-10-2020 18:49 via uk.finance.yahoo.com
  
  Sweden will outperform its Nordic neighbours as well as escaping the depths of recession expected to befall the eurozone and US, according to forecasters at Danske Bank. They predict Swedish GDP will shrink less this year and grow more next year than the rest of Scandinavia and Finland. The 3.3pc contraction in Sweden’s economy this year compares to the 5.8pc decline Danske predicts for the UK, the 8.3pc contraction for the eurozone and the 4.3pc fall in US GDP. Las Olsen, chief economist
  
  Read more

• ECB must keep policy easy even after pandemic, Lane says

  06-10-2020 18:49 via uk.finance.yahoo.com
  
  The European Central Bank must keep its policy sufficiently easy, even after the damage wrought by the coronavirus pandemic is repaired, to ensure euro zone inflation heads back to its target, chief economist Philip Lane said on Tuesday.Euro zone prices have fallen for two consecutive months despite massive stimulus by the ECB and are not expected to grow anywhere near its inflation goal of just under 2% for years to come.Lane acknowledged that the pandemic has aggravated an already challenging
  
  Read more

• Armed guards, helicopters and forklifts drafted in to move 200 tonnes of gold to new vault

  06-10-2020 18:45 via uk.finance.yahoo.com
  
  Closely guarded convoy with the multibillion dollar cargo took some 22 hours to travel just 20km
  
  Read more

• Pfizer CEO says won't discuss FDA's coronavirus vaccine guidance with White House

  06-10-2020 18:38 via uk.finance.yahoo.com
  
  White House officials are blocking new FDA guidelines for emergency release of a coronavirus vaccine, including one that would likely ensure that no vaccine could be authorized before the Nov. 3 presidential election, the New York Times reported on Monday."We believe U.S. FDA's independence is today more important than ever as public trust in #COVID19 vaccine development has been eroded by the politicization of the process," Bourla said on Twitter.
  
  Read more

• Apple to unveil iPhone 12 next week after announcing launch event

  06-10-2020 18:36 via uk.finance.yahoo.com
  
  Apple is set to unveil its next iPhones next week on October 13, after it announced a launch event on Tuesday. The company invited media and analysts to a live streamed event to be held at 10am Pacific Time (6pm UK time), featuring the tagline “Hi, speed” - or, when said aloud, “high-speed”. Apple has traditionally used its event invitations as a way to hint at a new feature or aspect of the products it will unveil. Tuesday’s is likely to be a reference to 5G, with
  
  Read more

• Wind power or hot air: can Boris build 260 turbines a year?

  06-10-2020 18:35 via uk.finance.yahoo.com
  
  It's ambitious. It's stretching. It's important. But can it actually happen, and will bill-payers get fleeced along the way? Those questions swirled as Boris Johnson announced at his party conference yesterday the Government's target for a four-fold increase in the amount of electricity generated by wind turbines off UK shores by 2030. "We believe that in 10 years time offshore wind will be powering every home in the country," the Prime Minister said, predicting that everyone's kettles, washing
  
  Read more

• Lenders left wondering how PM's homeowners pledge will be achieved

  06-10-2020 18:34 via uk.finance.yahoo.com
  
  Lenders left wondering how PM's homeowners pledge will be achieved. Boris Johnson’s conference promise leaves mortgage industry bemused and puzzled
  
  Read more

• End of an era as Chrysaor flies to the rescue of Premier Oil

  06-10-2020 18:29 via uk.finance.yahoo.com
  
  The North Sea is generally regarded as one of the world's most mature oil and gas resources.
  
  Read more

• Trump health progress tips FTSE 100 into green at end of trading

  06-10-2020 18:26 via uk.finance.yahoo.com
  
  London’s top flight closed seven points higher at 5,949.94 at the end of trading on Tuesday.
  
  Read more

• Stocks edge higher amid US political uncertainty

  06-10-2020 18:25 via uk.finance.yahoo.com
  
  Stock markets edged upwards Tuesday as investors absorbed the latest coronavirus vaccine news after President Donald Trump returned to the White House following treatment for the virus.
  
  Read more

• Why a wealth tax won't work

  06-10-2020 18:23 via uk.finance.yahoo.com
  
  For a Chancellor who will soon be tasked with paying the nation’s Covid debts, the latest polling on where Britons think he should find the cash will have made interesting reading. An Ipsos Mori poll suggested 41pc of respondents think Rishi Sunak should hit those with more than £500,000 in net assets with a wealth tax: politically explosive territory where few Chancellors have dared to tread. “Novel taxes such as a wealth tax clearly do have a degree of popularity,” said
  
  Read more

Follow @Business_UKnews on Twitter!