Business news

• UK credit rating downgraded by Moody’s

  16-10-2020 23:21
  Moody’s warns growth has ‘been meaningfully weaker’ than anticipated and points to governance problems
  
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• Are UK companies strong enough for coronavirus?

  16-10-2020 23:18 via bbc.co.uk
  
  Financial experts advise people to set aside money for a rainy day. Have firms followed suit?
  
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• US election 2020: The young people struggling in the 2020 economy

  16-10-2020 23:17 via bbc.co.uk
  
  How the pandemic is changing the economic prospects and politics of America's young people.
  
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• Coronavirus: Is there a future for street fundraising?

  16-10-2020 23:12 via bbc.co.uk
  
  Face-to-face fundraising is vital for charities' cash income - but does it have a post-Covid future?
  
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• My Money: 'Most of our spending is on our son'

  16-10-2020 23:03 via bbc.co.uk
  
  Ned Vincent from Norfolk takes us through his week during the coronavirus pandemic.
  
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• PwC stepping down as auditor of Boohoo over governance concerns

  16-10-2020 22:52 via uk.finance.yahoo.com
  
  PwC stepping down as auditor of Boohoo over governance concernsA review of the fast fashion retailer’s practices accused it of ‘weak corporate governance’
  
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• Sunak resists northern leaders’ demands on wage subsidy

  16-10-2020 21:59
  Ministers fear acceding to mayors’ request would encourage them to seek more support
  
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• Rishi Sunak resists northern leaders’ demands on wage subsidy

  16-10-2020 21:59
  Ministers fear acceding to mayors’ request would encourage them to seek more support
  
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• Boohoo prepares for appointment of new auditor

  16-10-2020 21:38 via uk.finance.yahoo.com
  
  The Financial Times newspaper had reported earlier that Boohoo's current auditor PwC has resigned on concerns about the risks of continuing to work for the fashion retailer after a recent supply chain scandal."PWC has not resigned as auditor to Boohoo but a process has recently commenced to tender for a new provider of audit services", a Boohoo spokesperson said in an emailed statement in response to the FT report.PwC declined to comment when contacted by Reuters.
  
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• British boats thrown lifeline over double VAT after Brexit

  16-10-2020 21:32
  Leeway on tax rules that would leave UK-owned yachts moored in EU waters with extra bill after transition
  
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• Boris Johnson warns he will intervene if needed on Manchester lockdown

  16-10-2020 21:25
  Number of people in Britain living under the tightest rules doubles to 3.1m
  
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• Newsmaker: EU funds drive rethink in East Europe on climate, says Timmermans

  16-10-2020 21:00 via uk.finance.yahoo.com
  
  East European nations are thinking more seriously about how to reduce carbon emissions to make use of a 750 billion euro ($880 billion) European Union economic recovery fund, the EU's top climate official said on Friday.The bloc has set up the Next Generation EU war chest to support economies hammered by the coronavirus crisis, with a focus on helping shift the EU's 27 nations away from using fossil fuels and improving energy efficiency."I see quite a sea change, also in Central and Eastern Euro
  
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• Johnson warns he will intervene if needed on Manchester lockdown

  16-10-2020 20:14
  Number of people in Britain living under the tightest rules doubles to 3.1m
  
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• Wall Street Week Ahead: Big tech nervousness prompts calls to diversify

  16-10-2020 20:10 via uk.finance.yahoo.com
  
  The S&P 500's five biggest companies, Apple Inc , Microsoft Corp , Amazon.com Inc , Alphabet Incand Facebook Incnow account for 28% of the index's weighting and have been responsible for 25% of its earnings, Goldman Sachs said earlier this month.On average, these tech and internet-driven stocks have gained 49.23% this year, compared to a 7% gain for the S&P 500 - and are up 9.6% on average since Sept. 21, versus 6.6% for the S&P 500.
  
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• Boeing shares climb after regulator says 737 MAX 'safe'

  16-10-2020 20:03 via uk.finance.yahoo.com
  
  Boeing shares climbed on Friday following a report that the European air safety regulator is ready  to allow the 737 MAX jet to return to the skies after its worldwide grounding.
  
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• British pubs ravaged by new virus restrictions

  16-10-2020 19:42 via uk.finance.yahoo.com
  
  Britain's pub industry is bearing the brunt of new restrictions introduced to combat rising coronavirus infection rates, sending stock prices tumbling on Friday.
  
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• Boohoo searches for new auditor

  16-10-2020 19:41 via uk.finance.yahoo.com
  
  Boohoo is searching for a new auditor following the resignation of PwC amid reputational concerns following an investigation into working conditions at one of its factories. BDO, the UK's fifth-largest accounting firm by revenue, declined to be appointed after being approached in recent weeks, The Telegraph understands. A senior audit source said there were concerns about Boohoo's governance and supply chains as well as reputational risks for any firm taking on the role. An investigation commiss
  
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• The professor who sued Oxford for ageism – and won

  16-10-2020 19:28 via uk.finance.yahoo.com
  
  A fortnight ago, Prof Paul Ewart reported for his first day back at work at Oxford University’s physics department: attending a Covid-19 safety briefing in a lecture hall at the world-famous Clarendon Laboratory on Parks Road and receiving warm, if socially distanced, greetings from colleagues. It was something of a second coming for the 72-year-old from Belfast who started working there more than four decades ago. For the past three years, the former head of atomic and laser physics has b
  
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• Boeing 737 Max readies for takeoff after EU signals safety approval is imminent

  16-10-2020 19:02 via uk.finance.yahoo.com
  
  Boeing 737 Max readies for takeoff after EU signals safety approval is imminent. European regulator says plane could be allowed to return to the skies soon after meeting required standards
  
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• Israel-UAE peace deal 'big' for trade in Middle East

  16-10-2020 18:58 via bbc.co.uk
  
  Israel's UAE and Bahrain peace deals are "going to be big" for business, says DP World boss.
  
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• 'They have to think differently' – shoppers on John Lewis's new strategy

  16-10-2020 18:56 via uk.finance.yahoo.com
  
  'They have to think differently' – shoppers on John Lewis's new strategySome customers back new ideas, while others are dubious about renting furniture
  
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• Pound shrugs off Prime Minister’s no-deal warning

  16-10-2020 18:40 via uk.finance.yahoo.com
  
  The FTSE 100 closed 87.06 points higher at 5,919.58 at the end of trading on Friday.
  
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• Covid-19 restrictions not affecting social distancing, says ONS

  16-10-2020 18:38
  UK statistics agency says level of people still meeting likely to lead to increased hospitalisations and deaths
  
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• Sadiq Khan resists congestion zone extension to secure TfL rescue

  16-10-2020 18:33
  Government ties conditions to funding extension for London’s transport network
  
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• Exclusive: Google sweetens Fitbit concessions, heading for EU okay - sources

  16-10-2020 18:31 via uk.finance.yahoo.com
  
  Alphabetunit Google has tweaked its concessions aimed at allaying EU antitrust concerns about its $2.1 billion purchase of Fitbit , people familiar with the matter said, putting it on course to secure EU approval for the deal.The world's most popular internet search engine last month offered to restrict the use of Fitbit data for Google ads, facilitate rival makers of wearables seeking to connect to the Android platform and allow third parties' continued access to Fitbit users' data with their c
  
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• Pound wobbles as Johnson says get ready for 'no-deal' Brexit

  16-10-2020 18:27 via uk.finance.yahoo.com
  
  The British pound wobbled Friday, boosting London stocks, after UK Prime Minister Boris Johnson warned he was ready to walk away from European Union trade talks and prepare for a "no-deal" Brexit.
  
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• Amazon, Nike, and IKEA questioned by MPs over alleged forced labour links

  16-10-2020 18:24 via uk.finance.yahoo.com
  
  MPs wrote to businesses as it explores the extent to which UK firms are exploiting the forced labour of Uyghur in the Xinjiang region of China.
  
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• Treasury plan for shops to offer cashback without purchase

  16-10-2020 18:20
  Covid-19 has accelerated the shift from cash to digital payments, leaving the vulnerable behind
  
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• Coronavirus: Chris Whitty says UK public 'overwhelmingly' intend to follow health advice to protect others

  16-10-2020 18:19 via uk.finance.yahoo.com
  
  The UK public "overwhelmingly" intend to follow public health advice to protect others from coronavirus, Professor Chris Witty has said.
  
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• John Lewis to become major housebuilder in £300m overhaul

  16-10-2020 18:17 via uk.finance.yahoo.com
  
  Partnership plans to build homes at 20 of its sites across the UK
  
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• The car is the star: Sixties' TV dramas with real pulling power

  16-10-2020 18:07 via uk.finance.yahoo.com
  
  The opening episode of a new television drama in September 1960 featured Patrick McGoohan driving an Aston Martin DB2/4 through an “Italy” that was very obviously North Wales. Danger Man, for that was its title, was the programme that established the tropes of the Incorporated Television Company’s “International Man of Mystery” genre; a square-jawed hero, a theme tune of distinction and, of course, splendid cars. The directors also made valiant attempts to disguise
  
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• What happens if two bits of space junk actually collide?

  16-10-2020 18:00 via uk.finance.yahoo.com
  Domino effect could create impenetrable layer of debris that traps us on Earth
  
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• Macron claims trade deal upper hand in retort to Johnson

  16-10-2020 17:57
  EU vows to plough on with talks despite London gloom at stalled negotiations
  
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• Macron claims EU has upper hand in Brexit trade deal

  16-10-2020 17:57
  EU vows to plough on with talks despite London gloom at stalled negotiations
  
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• EU to plough ahead with UK trade talks despite Johnson rebuff

  16-10-2020 17:57
  Brussels — and even some Tory MPs — remain convinced British prime minister will still do last-minute Brexit deal
  
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• Infant shielded by mother's body becomes sole survivor of plane crash

  16-10-2020 17:54 via ibtimes.co.uk
  
  The year-and-a-half-old boy was found alive in his dead mother's arms after his parents and nanny perished in a plane crash.
  
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• Which are the best shares to buy now, growth or dividend shares?

  16-10-2020 17:52 via uk.finance.yahoo.com
  
  Thousands are getting in on the stock market crash, but you do need a strategy. Today I'm looking at a few dividend and growth share possibilities.
  The post Which are the best shares to buy now, growth or dividend shares? appeared first on The Motley Fool UK.
  
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• Air Canada chief to retire in February

  16-10-2020 17:44 via uk.finance.yahoo.com
  Air Canada president and chief executive officer Calin Rovinescu will retire after leading the airline for almost 12 years and turning around its fortunes, the airline announced Friday.
  
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• No-deal Brexit plans spark furious backlash from business chiefs

  16-10-2020 17:33 via uk.finance.yahoo.com
  
  Business chiefs warned of 'eye-watering' taxes on food, under-prepared firms and major disruption after prime minister Boris Johnson's speech.
  
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• Issa brothers' forecourt firm posts record quarterly profit

  16-10-2020 17:31 via uk.finance.yahoo.com
  
  The billionaire Issa brothers who are buying Asda have posted record quarterly profits for their petrol station business EG Group. The update comes days after it emerged that the firm’s auditor Deloitte had resigned, with KPMG replacing it. The company said it was “pleased” to work with a new auditor and added that Deloitte was still auditing its business in Australia. It did not comment further regarding a clash with Deloitte over corporate governance and the lack of independe
  
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• Threat of double dip recession looms as second wave hits

  16-10-2020 17:27 via uk.finance.yahoo.com
  
  Britain’s "V-shaped" recovery is coming to a premature end as the rise in coronavirus cases and new local lockdowns threaten to send GDP into reverse. It means growth nationally will slow from about 16pc in the third quarter, as the rebound got underway, to as little as 2pc in the final months of the year. GDP could even fall in some months, raising the prospect of a "W-shaped" scenario. “A double dip seems an increasingly realistic possibility,” said economist Robert Wood at B
  
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• 'Dancing With the Stars' never asked Taryn Manning to be on the show

  16-10-2020 17:17 via ibtimes.co.uk
  
  A representative for the show called false on Taryn Manning's claims that she received multiple appearance invites.
  
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• Two in three Brits would not spend 'three months salary' on engagement ring

  16-10-2020 17:16 via uk.finance.yahoo.com
  
  Brits spend less than a quarter of the 'rule of thumb' on engagement rings.
  
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• Test-and-trace: Higher profits expected by Serco

  16-10-2020 17:16 via bbc.co.uk
  
  News that Serco will see better than expected profits comes amid claims it is failing to reach enough people.
  
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• Incestuous paedophile woman arrested for sexually assaulting 12-year-old son

  16-10-2020 17:07 via ibtimes.co.uk
  
  Police arrested the woman after the child revealed the sexual assault committed two years ago.
  
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• The Aston Martin share price has bounced! Time to snap it up?

  16-10-2020 17:01 via uk.finance.yahoo.com
  
  Tom Rodgers looks at 007's favourite luxury carmaker. Is the Aston Martin share price a bargain at 50p? Does it have a licence to thrill?The post The Aston Martin share price has bounced! Time to snap it up? appeared first on The Motley Fool UK.
  
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• Volkswagen raises Navistar bid to $44.50/share to clinch trucks deal

  16-10-2020 16:51 via uk.finance.yahoo.com
  
  A successful merger would combine the MAN, Scania and Volkswagen trucks brands with Navistar to create a global manufacturer, at a time when the industry is seeking ways to share the costs of developing low emissions technology.At $44.50 per share, Traton would pay about $3.7 billion for the shares in Navistar it doesn't already own, valuing the U.S. business as a whole at around $4.4 billion."Traton SE and the U.S.-American truck manufacturer Navistar International Corporation, in which Traton
  
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• Navistar says $44.50 per share would secure takeover by VW

  16-10-2020 16:51 via uk.finance.yahoo.com
  
  A letter published by the U.S. company said Navistar's board had asked Traton to confirm that a price of $44.50 per share was a basis for finalising definitive agreements.Traton declined to comment.Tratonraised its offer for Navistar to $43 per share last month and set an Oct. 16 deadline for the U.S. truckmaker to accept it.
  
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• Navistar demands VW's Traton hike takeover bid to $44.50 per share

  16-10-2020 16:51 via uk.finance.yahoo.com
  
  Tratonraised its offer for Navistar to $43 per share last month and set an Oct. 16 deadline for the U.S. truckmaker to accept it.Traton had no immediate comment about Navistar's latest demand but shares in Navistar rose 20% to $42.65 after the latest demand.Shares in Traton were up 1.1% at 17.92 euros.
  
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• 'Charmed' stars Rose McGowan, Holly Marie Combs fire back at Sarah Jeffery

  16-10-2020 16:47 via ibtimes.co.uk
  
  The original "Charmed" stars clapped back after Sarah Jeffery called them "pathetic."
  
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