Business news

• Britain tells businesses to step up plans for no-deal EU exit

  18-10-2020 23:33 via uk.finance.yahoo.com
  
  Britain is urging businesses to step up preparations for a no-deal exit from the European Union when transitional arrangements end, telling them in a campaign that "time is running out".Talks between Britain and the EU on a trade deal ended in recrimination last week, with both sides saying the other needed to compromise.British Prime Minister Boris Johnson said on Friday there was no point in continuing discussions and it was now time to prepare for an exit without a trade deal.
  
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• Johnson to warn ‘time running out’ to prepare for end of Brexit transition

  18-10-2020 23:30
  Prime minister to launch ad campaign as polls show many companies not ready for new EU relationship
  
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• If Facebook and Google limit services in Australia, could the ABC run a social network?

  18-10-2020 23:00 via uk.finance.yahoo.com
  
  If Facebook and Google limit services in Australia, could the ABC run a social network?A new paper suggests a publicly funded replacement could be form part of the government’s response if the tech giants limit access
  
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• ABC-run social network proposed to step in for Facebook and Google in Australia

  18-10-2020 23:00 via uk.finance.yahoo.com
  ABC-run social network proposed to step in for Facebook and Google in AustraliaTech giants have threatened to limit services in Australia over the news media code, but a new paper suggests a publicly-funded replacement
  
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• Edinburgh Woollen Mill owner races to thrash out rescue deal

  18-10-2020 19:28 via uk.finance.yahoo.com
  
  Edinburgh Woollen Mill owner races to thrash out rescue dealEWM chain of 260 stores could close with thousands of jobs lost but larger chain Peacocks may stay open
  
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• Cruises will be safe for tourists, insists industry

  18-10-2020 19:27 via uk.finance.yahoo.com
  
  Cruises will be safer than stepping on to an aircraft or staying in a hotel room under new rules designed to restart sailings, according industry leaders. Operators such as Fred Olsen and Saga have drawn up new protocols that they hope will convince ministers to give British departures the green light in the New Year. The Government is continuing to advise against cruise ship travel despite countries on the Continent relaxing their guidance. Bob Sanguinetti, the chief executive of the UK Chamber
  
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• German econ forecasts solid as long as coronavirus contained - Altmaier

  18-10-2020 19:24 via uk.finance.yahoo.com
  
  The German government is unlikely to make significant changes to its autumn economic forecasts, Economy Minister Peter Altmaier said on Sunday, while cautioning that a failure to contain the coronavirus pandemic could spell trouble.Berlin currently expects gross domestic product to shrink in 2020 by 5.8% before rebounding by 4.4% next year.Echoing a call by Chancellor Angela Merkel on Germans to cut social contacts and travel to slow infection, Altmaier said people need to make greater efforts t
  
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• Bank of England needs flexibility for 'world of much bigger shocks', says Andrew Bailey

  18-10-2020 19:23 via uk.finance.yahoo.com
  
  Andrew Bailey has signalled his support for a more flexible approach to the Bank of England’s inflation target as central banks shift to cope with a “world of much bigger shocks”. The Bank Governor said shocks since the financial crisis had “necessitated a search for a more flexible form” of policy with the US central bank recently adopting an average inflation target. “I don’t think changing the target is the right way to think about it but I think it&r
  
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• M&S and Ocado cause anger with different pricing on same items

  18-10-2020 19:20 via uk.finance.yahoo.com
  
  M&S; and Ocado cause anger with different pricing on same items. Shoppers highlight cases where the price online is more than 40% higher than in store
  
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• Care homes lobby groups criticise regulator over Covid response

  18-10-2020 18:58
  Care Quality Commission accused of not providing enough support and oversight in first months of pandemic
  
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• Hamleys to cut more than a quarter of London staff

  18-10-2020 18:49 via uk.finance.yahoo.com
  
  Hamleys to cut more than a quarter of London staffJobs set to go at world’s oldest toyshop’s Regent Street store and nearby head office
  
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• China passes export control law protecting national security and technology

  18-10-2020 18:47 via uk.finance.yahoo.com
  
  The law allows the government to act against nations that abuse export controls in a way that harms China’s interests, state media said.
  
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• Ontario pension fund hunts for new London property deals

  18-10-2020 18:37
  Long-term attraction of UK real estate undimmed by coronavirus or Brexit, says Omers
  
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• Covid rewrites Australia’s future with huge drop in population signalling challenges ahead

  18-10-2020 18:30 via uk.finance.yahoo.com
  
  Covid rewrites Australia’s future with huge drop in population signalling challenges aheadPopulation growth of 600,000 fewer people in 2022 a sign of major changes for all aspects of everyday life, Deloitte reports
  
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• G4S steps up defence against 'opportunistic' bid by Canadian rival

  18-10-2020 18:25 via uk.finance.yahoo.com
  
  G4S stepped up its defence against the “opportunistic” and “very highly leveraged” GardaWorld in the latest salvo of the hostile takeover battle for the FTSE 250 security firm. Its board urged shareholders to reject GardaWorld’s 190p per share bid again after the Canadian rival made a firm offer to investors on Saturday. It claimed the £3bn offer “significantly undervalues” the “fundamentally re-positioned” company and attacked GardaWor
  
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• ‘Unprecedented’ number of UK businesses seek rate cut

  18-10-2020 18:19
  Appeals against local levy climb as impact of pandemic on high street looks set to continue
  
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• Harris Allday sale thrown into chaos as insiders try to derail process

  18-10-2020 18:03 via uk.finance.yahoo.com
  
  The sale by Swiss bank EFG International of wealth manager Harris Allday has been thrown into chaos after insiders at the Midlands-based firm attempted to derail the process. EFG has been trying to offload Harris Allday for several months, but has failed to strike an agreement to sell the firm, according to City sources. Rothschild & Co is advising on the sale process, which hit trouble after a faction within Harris Allday devised an alternative plan. At least one potential buyer was approac
  
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• Rishi Sunak warned public sector's food supply at risk

  18-10-2020 17:47 via uk.finance.yahoo.com
  
  Rishi Sunak warned public sector's food supply at risk. Wholesalers providing food for care homes, schools, hospitals and prisons call for government support
  
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• G4S asks investors to reject 'opportunistic' GardaWorld takeover

  18-10-2020 17:46 via uk.finance.yahoo.com
  
  GardaWorld adviser stand to make up to £312m in fees if the Canadian firm successfully clinches shareholder’ support for the hostile takeover.
  
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• Business leaders urge government to limit COVID-19 UK lockdown damage

  18-10-2020 17:42 via uk.finance.yahoo.com
  
  A letter from the British Chambers of Commerce said: “No amount of financial support can compensate for an open, fully-functioning economy.”
  
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• How Big Oil's beasts risk being reduced to the role of dinosaurs

  18-10-2020 17:41 via uk.finance.yahoo.com
  
  They used to dominate the stock market. Today, the big beasts of Big Oil are at risk of becoming dinosaurs: shrivelled remnants of their former selves. In terms of market value, ExxonMobil, BP and Shell combined are now worth less than Tesla alone. Once the world’s biggest company, at $146bn (£113bn) Exxon is worth only a fraction of the $432bn value of Elon Musk’s electric carmaker. The titans of Big Tech have taken over the corporate jungle as a toxic cocktail of swooning oil
  
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• Toshiba targets $3 billion revenue in quantum cryptography by 2030

  18-10-2020 17:31 via uk.finance.yahoo.com
  
  Toshiba Corp said on Monday it aims to generate $3 billion (2.3 billion pounds) in revenue from its advanced cryptographic technology for data protection by 2030, as the Japanese sprawling conglomerate scrambles to find future growth drivers.The cyber security technology, called quantum key distribution (QKD), leverages the nature of quantum physics to provide two remote parties with cryptographic keys that are immune to cyberattacks driven by quantum computers.
  
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• UK could face shortage of trainers and leisurewear as Covid fuels surge in demand

  18-10-2020 17:04 via uk.finance.yahoo.com
  
  UK could face shortage of trainers and leisurewear as Covid fuels surge in demandMore people working from home and keeping fit has taken retailers and brands by surprise
  
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• UK farmers fret over organic exports to EU next year

  18-10-2020 17:00
  Suppliers fear loss of customers if bloc does not recognise certification after end of Brexit transition period
  
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• Everything you need to know about the 2020 NBA Draft

  18-10-2020 17:00 via ibtimes.co.uk
  
  The Minnesota Timberwolves have the top pick in this year's Draft.
  
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• Anthony Davis opts out of his player option with the LA Lakers

  18-10-2020 16:34 via ibtimes.co.uk
  
  However, Davis will entertain offers from the Lakers before other teams.
  
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• Los Angeles Clippers looking to hire Tyronn Lue as head coach

  18-10-2020 16:13 via ibtimes.co.uk
  
  Lue may be signing with the Clippers and not the Rockets as previously reported.
  
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• Brexit: Gove says 'door is ajar' on trade talks

  18-10-2020 16:10 via uk.finance.yahoo.com
  
  The bloc had not been willing to produce key detailed legal texts or been willing to intensify talks, meaning some of the progress had been squandered, Gove told the BBC’s Andrew Marr on Sunday.
  
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• BoE's Bailey sees economic risks skewed 'very heavily' to downside

  18-10-2020 16:05 via uk.finance.yahoo.com
  
  Bank of England Governor Andrew Bailey said risks to economic growth in Britain were skewed very heavily to the downside, and reiterated that he expected economic output at the end of September to have been 10% lower than a year earlier."Ten percent is still a huge gap, let's be clear on that," Bailey told an online seminar for central bank governors hosted by the Group of 30.
  
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• British Airways to 'cut flights from Gatwick' in Covid recovery plan

  18-10-2020 15:52 via uk.finance.yahoo.com
  
  British Airways is planning to shrink its presence at London Gatwick Airport as part of a "bounce-back" effort in the wake of the Covid-19 pandemic. BA, which warned it could abandon Britain's second biggest airport in April, is already operating most of its short-haul flights from Heathrow, and has said it will be doing so until next March. However, the airline is understood to have now started readying for the Gatwick operations to be a smaller part of the business when it emerges from the cri
  
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• City trader tells court of 83 instances of alleged bullying and racial harassment

  18-10-2020 15:18 via uk.finance.yahoo.com
  
  City trader tells court of 83 instances of alleged bullying and racial harassment. Opeyemi Olayanju claims constructive dismissal by TP ICAP and now wants job at rival
  
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• Record number of shops close with worse yet to come, warn analysts

  18-10-2020 15:05 via uk.finance.yahoo.com
  
  Record number of shops close with worse yet to come, warn analysts. About 11,000 outlets shut in Britain in first half of 2020, twice as many as in same period last year
  
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• Huge rise in UK shop closures with worse yet to come, warn analysts

  18-10-2020 15:05 via uk.finance.yahoo.com
  
  Huge rise in UK shop closures with worse yet to come, warn analysts. About 11,000 chain stores closed in the first half of 2020, twice as many than 2019 as a whole
  
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• Boeing 737 MAX ready for takeoff as EU safety watchdog clears it to fly

  18-10-2020 14:59 via uk.finance.yahoo.com
  
  The MAX, which was banned in March 2019 following two fatal crashes, is nearing reauthorisation in the US and EU, the two key jurisdictions after a hosts of tests.
  
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• UK shop closures at record high in 2020

  18-10-2020 14:50 via uk.finance.yahoo.com
  
  A total of 11,000 chain operator outlets shut between January and August this year.
  
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• Does the BP share price make it the best buy in the FTSE 100?

  18-10-2020 14:29 via uk.finance.yahoo.com
  
  The BP share price has slumped to decades-long lows in the stock market crash. Should investors buy the 'new' BP at its very beginning?
  The post Does the BP share price make it the best buy in the FTSE 100? appeared first on The Motley Fool UK.
  
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• Michael Gove says hopes of striking EU trade deal are falling

  18-10-2020 14:24
  UK minister says he is less confident of reaching an agreement than he was earlier this month
  
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• Prince Daniel of Sweden has tested negative for COVID-19 after suffering from cold

  18-10-2020 14:15 via ibtimes.co.uk
  
  Princess Victoria and Prince Daniel are scheduled to travel to Södermanland County – the dukedom of their nephew Prince Alexander on Thursday.
  
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• Coronavirus: Renault CEO to unveil eight year turnaround plan in 2021

  18-10-2020 13:47 via uk.finance.yahoo.com
  
  “We can turn it all around,” he said, but did not give any specific detail on the plan.
  
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• 3 reasons why I’d buy the best bargain shares right now

  18-10-2020 13:37 via uk.finance.yahoo.com
  
  Buying the best bargain shares may prove to be a very profitable move. They could deliver a successful recovery as the world economy returns to growth.
  The post 3 reasons why I’d buy the best bargain shares right now appeared first on The Motley Fool UK.
  
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• Forget gold and Bitcoin. I’d buy cheap UK shares to retire with a generous passive income

  18-10-2020 13:32 via uk.finance.yahoo.com
  
  Buying cheap UK shares could produce higher returns than gold or Bitcoin in my view. Doing so may allow you to retire on a generous passive income.
  The post Forget gold and Bitcoin. I’d buy cheap UK shares to retire with a generous passive income appeared first on The Motley Fool UK.
  
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• The HSBC share price: why I think the stock could be worth buying

  18-10-2020 13:23 via uk.finance.yahoo.com
  
  After recent declines, it looks as if the bank's problems are more than factored in to the HSBC share price, which looks too cheap.The post The HSBC share price: why I think the stock could be worth buying appeared first on The Motley Fool UK.
  
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• Sports Direct tycoon Mike Ashley ups Debenhams offer

  18-10-2020 13:17 via uk.finance.yahoo.com
  
  The auction for the chain, run by Lazard, is nearing its end. Debenhams fell into administration for the second time in April.
  
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• Best investments for 2021: 5 UK shares I’d buy right now

  18-10-2020 13:16 via uk.finance.yahoo.com
  
  The best investments for 2021 could be those that have performed well this year. Here are five UK shares that have done just that.
  The post Best investments for 2021: 5 UK shares I’d buy right now appeared first on The Motley Fool UK.
  
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• Former UK chancellor George Osborne linked to BBC chairman job

  18-10-2020 13:08 via uk.finance.yahoo.com
  
  The current chairman David Clementi is due to step down in February when his term ends.
  
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• SAGE Advisor warns against police using test and trace data

  18-10-2020 13:07 via uk.finance.yahoo.com
  
  SAGE and Independent SAGE behavioural science advisor Prof Susan Michie has said she has "no idea" why the government has agreed to provide police with test and trace data. She adds failure to support public in general will lead to a lack of adherence to restrictions.
  
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• The Aston Martin share price is up 80% since May. Read this before you buy

  18-10-2020 12:48 via uk.finance.yahoo.com
  
  After its massive crash, the Aston Martin share price has been gaining. Is it a top recovery bargain now, or is it one to avoid like the plague?
  The post The Aston Martin share price is up 80% since May. Read this before you buy appeared first on The Motley Fool UK.
  
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• Can the Saga share price ever recover?

  18-10-2020 12:43 via uk.finance.yahoo.com
  
  The Saga share price may continue to fall if sales and profits don't pick up next year, but it could surge if profits recover.The post Can the Saga share price ever recover? appeared first on The Motley Fool UK.
  
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• Rolls-Royce shares: what would I do now?

  18-10-2020 12:39 via uk.finance.yahoo.com
  
  Rolls-Royce shares have surged in value over the past two weeks, and this Fool thinks there could be further gains ahead for investors.
  The post Rolls-Royce shares: what would I do now? appeared first on The Motley Fool UK.
  
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• Italy agrees on $4.7bn fund to compensate companies during COVID-19 pandemic

  18-10-2020 12:04 via uk.finance.yahoo.com
  
  Among other measures, the package is to include a €4bn ($4.7bn, £3.6bn) fund to help companies worst hit by lockdowns throughout the country.
  
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