Business news

• Daimler posts forecast-beating results as demand rebounds

  15-10-2020 22:35 via uk.finance.yahoo.com
  
  Carmaker Daimleron Thursday posted forecast-beating third-quarter results, citing a faster than expected market recovery and strong business in September.Third-quarter earnings before interest and tax reached 3.07 billion euros ($3.59 billion), Daimler said, beating the 2.14 billion Refinitiv forecast.To counter losses, Daimler's Mercedes-Benz has stopped building sedans in the United States to focus on more profitable SUVs, combined its fuel cell development with Volvo Trucks, and halted an aut
  
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• Trump mulls higher US stimulus offer as Mnuchin downplays deal

  15-10-2020 22:11 via uk.finance.yahoo.com
  
  Getting a new stimulus spending package approved by Congress is unlikely before the November election, US Treasury Secretary Steven Mnuchin said Thursday, even as his boss President Donald Trump indicated he may raise his offer amid an impasse with the Democrats.
  
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• Johnson ready to force Brexit crisis with no-deal ultimatum

  15-10-2020 21:59
  Summit ‘atmospherics not good’ as Brussels seen as dragging its feet on trade deal
  
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• Boris Johnson ready to force Brexit crisis with no-deal ultimatum

  15-10-2020 21:59
  Summit ‘atmospherics not good’ as Brussels seen as dragging its feet on trade deal
  
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• Transport for London offered further 1 billion pounds bailout by government: source

  15-10-2020 21:56 via uk.finance.yahoo.com
  
  TfL, which runs the city's transport system, has been told by ministers to introduce the reforms if it is to secure a bailout package, the source added."Negotiations are ongoing to do a deal to keep TfL services running", the source from the office of London Mayor Sadiq Khan said, adding certain demands will be "totally unacceptable" to Khan.
  
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• Marston's looks like a survivor, but for other pubs life will be properly bleak

  15-10-2020 21:37 via uk.finance.yahoo.com
  
  Marston's looks like a survivor, but for other pubs life will be properly bleak. If Rishi Sunak is minded to offer tier 2 job support, then now is the moment
  
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• YouTube toughens rules for QAnon conspiracy content

  15-10-2020 21:34 via uk.finance.yahoo.com
  
  YouTube said Thursday it was tightening rules for propagation of conspiracy theories, notably targeting the QAnon movement already limited on Twitter and Facebook.
  
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• U.S. senators question Amazon on concerns it tracks employees, limits unionization

  15-10-2020 21:32 via uk.finance.yahoo.com
  
  Four Democratic U.S. senators on Thursday sent a letter to Amazon.com Inc'sChief Executive Jeff Bezos, demanding answers over the company's alleged moves to track and monitor employees and limit unionization efforts.Democratic senators Brian Schatz, Elizabeth Warren, Bernie Sanders and Kirsten Gillibrand asked the company for details on the steps it takes to discourage workers from organizing, how it tracks workers who participate in strikes and the law firms Amazon contracts with for union avoi
  
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• U.S. senators ask Amazon if it tracks employees, curbs bids to form unions

  15-10-2020 21:32 via uk.finance.yahoo.com
  
  Four Democratic U.S. senators on Thursday sent a letter to Amazon.com Inc'sChief Executive Jeff Bezos, demanding answers over its alleged moves to track and monitor employees and limit efforts to form unions.Democratic senators Brian Schatz, Elizabeth Warren, Bernie Sanders and Kirsten Gillibrand asked the company for details on the steps it takes to discourage workers from organizing, how it tracks workers who participate in strikes and the law firms Amazon contracts with for union avoidance."T
  
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• Social media enters perilous waters with Biden article block

  15-10-2020 21:28 via uk.finance.yahoo.com
  
  The misinformation wars around the US election kicked into high gear this week with Facebook and Twitter taking aggressive action against President Donald Trump and his allies, thrusting the platforms into a new political quagmire.
  
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• Tenth of pandemic stimulus spend could help world reach climate goals - study

  15-10-2020 21:09 via uk.finance.yahoo.com
  
  The world could get on track to avert catastrophic climate change by investing a tenth of a planned $12 trillion in pandemic recovery packages in reducing dependence on fossil fuels, according to a study published on Thursday.With the stimulus representing about 15% of global gross domestic product, or three times the commitment after the 2008 financial crisis, scientists say the money could prove pivotal in meeting the temperature goals of the 2015 Paris Agreement."It makes absolute sense not j
  
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• Italy PM expected to sign off soon on Monte dei Paschi decree - sources

  15-10-2020 20:59 via uk.finance.yahoo.com
  
  Italian Prime Minister Giuseppe Conte is expected to sign in the next few days long-awaited measures paving the way for a crucial bad loan clean-up at Monte dei Paschi (MPS)and the sale of the bank, two government sources said.The Treasury had asked the government for speedy approval,but opposition from the co-ruling 5-Star Movement has stalled the process.The two sources said the paralysis had been broken and Conte would finalise the measures after his return from Brussels.
  
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• Liberty Steel set to bid for Thyssenkrupp steel unit - source

  15-10-2020 20:54 via uk.finance.yahoo.com
  
  Privately-held Liberty Steel is set to make a bid for the ailing steel unit of Germany's Thyssenkrupp , a source close to the process told Reuters on Thursday.Liberty Steel was not immediately available to comment while Thyssenkrupp declined to comment.Thyssenkrupp Chief Executive Martina Merz said earlier this week the company would consider all options for the steel unit, including selling a stake to the German government.
  
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• Tier 2 Covid restrictions 'worst of both worlds', says trade body

  15-10-2020 20:43 via uk.finance.yahoo.com
  
  Tier 2 Covid restrictions 'worst of both worlds', says trade body. Businesses say trade will be damaged but the support tier 3 area firms get will be missing
  
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• Photographer 'devastated' by government-backed 'Fatima' dancer advert

  15-10-2020 20:43 via bbc.co.uk
  
  The ad was criticised for encouraging "Fatima" to give up on dancing and "reskill" in cyber security.
  
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• UK banks not ready for negative interest rates, says NatWest chairman

  15-10-2020 20:38 via uk.finance.yahoo.com
  
  UK banks not ready for negative interest rates, says NatWest chairman. Howard Davies warns of technical and contractual issues if cost of borrowing cut further
  
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• Potential sale of MPS to UniCredit 'inappropriate' with Padoan as chairman - 5-Star

  15-10-2020 20:35 via uk.finance.yahoo.com
  
  The appointment of former Economy Minister Pier Carlo Padoan as chairman designate of UniCredit would make it inappropriate for the Italian bank to buy state-owned Monte dei Paschi (MPS), lawmakers from Italy's co-ruling 5-Star Movement said.Padoan oversaw the bailout of Italy's oldest bank, Monte dei Paschi , back in 2017 when Rome spent 5.4 billion euros ($6.3 billion) on a 68% stake.Under an agreement with European Union authorities, the stake must be cut by mid-2022.
  
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• Boots chain reports 30% sales drop at retail sites in UK

  15-10-2020 20:30 via uk.finance.yahoo.com
  
  Boots chain reports 30% sales drop at retail sites in UK. Profit margin fall, blamed on Covid-19 effects, drags global firm to $3m quarterly loss
  
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• Dubai's new remote-working visa offers Brits who relocate opportunity to keep entire salary

  15-10-2020 20:28 via uk.finance.yahoo.com
  
  Dubai is seeking to attract foreigners with a remote-working visa that would allow them to pay no tax on their salaries while enjoying life in the sun. The city’s official media office announced the launch of a one-year programme that would allow international employees to keep their job and take advantage of the United Arab Emirates’ zero income tax policy. Under the current regulations, foreigners cannot move to the UAE without a job offer from a UAE-based employer, with workplaces
  
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• EU leaders tell London to budge on post-Brexit deal, drawing UK anger

  15-10-2020 20:20 via uk.finance.yahoo.com
  
  European leaders on Thursday demanded Britain give ground on far trade rules to unblock stalled post-Brexit negotiations, angering London and putting the fate of the talks in jeopardy.
  
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• Vaccine cooperation, recovery could boost global income $9 trillion by 2025, IMF chief says

  15-10-2020 20:12 via uk.finance.yahoo.com
  
  Strong international cooperation on COVID-19 vaccines could speed up the world economic recovery and add $9 trillion (6.9 trillion pounds) to global income by 2025, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday.Speaking at a news conference after a meeting of the IMF's steering committee, Georgieva also called on the United States and China to keep up strong economic stimulus that could help boost a global recovery.
  
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• IMF's Georgieva urges more coronavirus stimulus from U.S., China

  15-10-2020 20:12 via uk.finance.yahoo.com
  
  The United States and China needed to keep up strong stimulus to help speed the global economy's recovery from the novel coronavirus pandemic, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday.A faster recovery also depends on strong cooperation to develop and distribute COVID-19 vaccines evenly worldwide, but could add nearly $9 trillion to global income by 2025, Georgieva told a news conference after an IMF steering committee meeting.Georgieva said the United
  
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• IMF's Georgieva says U.S., China need to keep up coronavirus stimulus

  15-10-2020 20:12 via uk.finance.yahoo.com
  
  The United States and China needed to keep up strong stimulus to help speed the global economy's recovery from the novel coronavirus pandemic, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday.A faster recovery also depends on strong cooperation to develop and distribute COVID-19 vaccines evenly worldwide, but could add nearly $9 trillion to global income by 2025, Georgieva told a news conference after an IMF steering committee meeting.The United States has the
  
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• Faster coronavirus recovery could add $9 trillion to global income by 2025 - IMF's Georgieva

  15-10-2020 20:12 via uk.finance.yahoo.com
  
  Speeding up the recovery from the coronavirus recession can add $9 trillion in global income by 2025, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday, adding that this depended on strong international cooperation, including on vaccines.Speaking at a news conference after a meeting of the IMF's steering committee, Georgieva also called on the United States and China to keep up strong economic stimulus that can help boost global recovery.
  
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• France's Renault draws down part of state-backed loan

  15-10-2020 20:05 via uk.finance.yahoo.com
  
  French carmaker Renaulthas drawn down part of a 5 billion-euro ($5.85 billion) loan guaranteed by the French government, put in place earlier this year to shore up its finances during the coronavirus crisis, its chairman said.Jean-Dominique Senard did not detail how much of the loan Renault had tapped, but added that the group had ample liquidity and that it had only drawn down on the facility to make the most of the tools at its disposal."There will not be a single euro of public money used for
  
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• 'Crystal clear' Brexit deal with EU needed: ECB chief

  15-10-2020 20:04 via uk.finance.yahoo.com
  
  European Central Bank President Christine Lagarde said Thursday that the high stakes for the post-Brexit economy make it likely Britain and the European Union eventually will reach a deal on the breakup.
  
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• Coronavirus: US poverty rises as aid winds down

  15-10-2020 20:02 via bbc.co.uk
  
  Poverty rates and jobless claims in the US are rising, amid disagreement over further pandemic aid.
  
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• Fashion and leather lift LVMH amid Covid woe

  15-10-2020 19:56 via uk.finance.yahoo.com
  
  French luxury goods giant LVMH said Thursday that a sales rebound in fashion and leather goods had lifted third quarter sales to limit fallout from the Covid-19 pandemic.
  
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• Houston tech mogul Robert Brockman charged in record U.S. tax evasion scheme

  15-10-2020 19:55 via uk.finance.yahoo.com
  
  Houston technology executive Robert Brockman has been charged in the biggest tax evasion case in U.S. history after fellow billionaire Robert Smith turned against him to avoid prosecution himself, the Justice Department said on Thursday.Brockman, the 79-year-old chief executive of Ohio-based Reynolds and Reynolds Co, hid $2 billion in income from the Internal Revenue Service over two decades, using a web of off-shore companies in Bermuda and St. Kitts and Nevis, according to an indictment unseal
  
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• Italy and Vatican City added to UK quarantine list

  15-10-2020 19:54 via bbc.co.uk
  
  Travellers from Italy must self-isolate for 14 days as of Sunday, the government says.
  
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• Sticking points as post-Brexit talks heat up

  15-10-2020 19:47 via uk.finance.yahoo.com
  
  Discussions between Britain and Europe on the post-Brexit trade relationship are reaching a critical juncture with just over two months to go before the end of the transition period.
  
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• Business relief scheme does not go far enough – retail body

  15-10-2020 19:36 via uk.finance.yahoo.com
  
  Grants will be rolled out across Northern Ireland aimed at helping businesses over the planned four weeks of further restrictions.
  
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• Republicans to subpoena Twitter CEO over blocking article attacking Biden

  15-10-2020 19:30 via uk.finance.yahoo.com
  
  Senate Republicans said Thursday they will subpoena Twitter chief executive Jack Dorsey over the decision to block a news report critical of Democratic presidential candidate Joe Biden.
  
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• YouTube cracks down on QAnon and Pizzagate conspiracy theories

  15-10-2020 19:28 via uk.finance.yahoo.com
  
  YouTube is cracking down on "harmful" conspiracy theories like QAnon and Pizzagate, the latest Silicon Valley giant to do so amid fears digital aggression will spill into real-world violence. The video streaming website said it has already removed tens of thousands of QAnon videos and terminated channels that use the far-right movement, which claims President Donald Trump is fighting a cabal of Democratic Satantist paedophiles, to justify assaults on individuals. The FBI has deemed QAnon, suppor
  
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• 'No doubt' US to deploy more stimulus this year: IMF chief

  15-10-2020 19:15 via uk.finance.yahoo.com
  
  IMF chief Kristalina Georgieva said Thursday she is confident the United States will soon reach an agreement to provide another cash infusion to the ailing economy.
  
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• What businesses need to know about legitimate interest under GDPR

  15-10-2020 19:10 via s17026.pcdn.co
  
  Originally written by Partner Content on Growth Business
  Despite the General Data Protection Regulation (GDPR) coming into force over two years ago, there are still some elements of the legislation that can be confusing to businesses without a dedicated legal department. An example is ‘legitimate interest’, one of the six lawful bases for personal data, and the focus for this article. Today, we’re
  
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• Johnson to set out UK's Brexit approach on Friday, Frost says

  15-10-2020 19:08 via uk.finance.yahoo.com
  
  British Prime Minister Boris Johnson will set out his approach to Brexit on Friday after his chief negotiator described the European Union's latest demands in trade talks as disappointing and surprising.Britain left the EU in January and the estranged allies have since been locked in complex negotiations to try to agree a free trade deal for when a status-quo transition period ends on Dec. 31.
  
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• Tesco and Princes reduce catch of yellowfin tuna after warning Indian Ocean stocks now at ‘critical’ level

  15-10-2020 19:03 via uk.finance.yahoo.com
  
  Big brands vow to reduce purchases from region, as overfishing reduces populations to dangerously low levels
  
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• We can’t ignore JCB role in West Bank outrages

  15-10-2020 19:00 via uk.finance.yahoo.com
  
  We can’t ignore JCB role in West Bank outrages. Charities such as the NSPCC should not accept money from the machinery firm, writes Annie O’Gara, while Nick Georges has witnessed the use of JCB equipment in the destruction of Palestinian infrastructure
  
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• It’s a soldier’s life for me at 75, apparently

  15-10-2020 18:59 via uk.finance.yahoo.com
  
  It’s a soldier’s life for me at 75, apparentlyLookalike couples | Army careers | Shark attacks | Going on honeymoon | Tiers are not enough
  
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• Issa brothers to update EG Group bondholders in wake of Deloitte resignation

  15-10-2020 18:54 via uk.finance.yahoo.com
  
  The billionaire brothers buying Asda will speak to bondholders in their petrol station empire EG Group on Friday, after its auditor suddenly quit. Zuber and Mohsin Issa are seeking to reassure debt investors over EG's parting of ways with Deloitte, sparked by a clash over corporate governance. The Blackburn-based duo will also update bondholders on trading and tell them the business remains robust. EG told investors last week about the split, which is understood to be partly due to concerns it d
  
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• Scientists want to build a billion tiny pendulums to find dark matter

  15-10-2020 18:51 via uk.finance.yahoo.com
  
  Scientists have suggested building a network of a billion pendulums that could together finally find dark matter.Despite the fact that dark matters makes up some 27 per cent of the universe – far more than the 5 per cent comprised of the ordinary matter that we can see – it remains almost entirely mysterious.Rather than examining that on the grand scale of the cosmos, they hope to do so by looking for dark matter particles with the mass of a grain of salt.
  
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• Cannabis companies, betting on a Biden win, ready IPOs

  15-10-2020 18:48 via uk.finance.yahoo.com
  
  A year ago, Flora Growth Chief Executive Damian Lopez had just spent a chunk of his company's seed capital buying a Colombian cannabis producer, and was fighting his way through the legal and financial hurdles that have made development of the industry such a challenge over the past decade.U.S.-based dispensary business Gage Cannabis announced two weeks ago it would seek to list in the new year, while synthetic cannabinoid maker BioMedican has also laid out plans to go public in the first half o
  
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• UK may avoid winter blackouts owing to lower demand, says National Grid

  15-10-2020 18:36 via uk.finance.yahoo.com
  
  UK may avoid winter blackouts owing to lower demand, says National Grid‘No threat’ to energy system, as people stay away from offices, pubs and restaurants during pandemic
  
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• Government pays BA and Virgin £70m to fly PPE from China

  15-10-2020 18:28 via uk.finance.yahoo.com
  
  Two of Britain's largest airlines were paid more than £70m of taxpayer cash to fetch PPE from China as officials battled with dire shortages at the height of the Covid crisis. British Airways was handed £46m between May and July in a contract with the Department of Health and Social Care, details published by the Government show. Meanwhile, Virgin Atlantic has been paid £27m since April for flights that were still running as recently as this month. The airlines' services ran fr
  
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• UK drivers lose £300m every year to commission-based dealerships

  15-10-2020 18:20 via uk.finance.yahoo.com
  
  Customers could end up paying an extra £1,100 in interest on a four-year £10,000 finance agreement.
  
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• iPhone 12 seen in real life for first time during appearance on Good Morning America

  15-10-2020 18:20 via uk.finance.yahoo.com
  
  An iPhone 12 has been seen in real life for the first time, during an appearance on Good Morning America.The new Apple handsets – available in four versions – were unveiled during a livestreamed virtual event from the company's Apple Park campus this week.The first opportunity to do so came on Wednesday when the reporter Becky Worley showed off the phones and introduced their features.
  
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• Global stocks plunge on virus restrictions, US jobs data

  15-10-2020 18:18 via uk.finance.yahoo.com
  
  Global stock markets plunged Thursday with investor sentiment hammered by fears that tighter coronavirus restrictions could derail a tentative economic recovery.
  
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• Millions more under coronavirus restrictions as doubts raised about their impact

  15-10-2020 18:01 via uk.finance.yahoo.com
  
  London will move into Tier 2 from Saturday, with a ban on households mixing indoors.
  
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• New London lockdown rules cost restaurant ‘£25,000 in a day’

  15-10-2020 18:00 via uk.finance.yahoo.com
  
  Andy Jones, of Jones & Sons, said 540 people who had booked in for Saturday have now cancelled.
  
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