Business news

• Five ways the virus has changed Netflix

  20-10-2020 23:44 via bbc.co.uk
  
  Subscriber growth slows for the streaming giant, despite hits such as The Old Guard with Charlize Theron.
  
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• Google's war on all fronts over media, competition and tax

  20-10-2020 23:09 via uk.finance.yahoo.com
  
  Californian internet giant Google faces a growing list of battles around the world, from tussles in Europe and Australia over fair compensation for media outlets to competition probes on both sides of the Atlantic.
  
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• Netflix reports slowing subscriber growth; shares slide

  20-10-2020 23:02 via uk.finance.yahoo.com
  
  Netflix shares slid on Tuesday after the US streaming television titan reported that subscriber growth slowed in the recently ended quarter after booming in the early days of the pandemic.
  
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• 'Cost of removing cladding is ripping our lives apart'

  20-10-2020 22:59 via bbc.co.uk
  
  Owners of flats with flammable cladding are angry they may have to pay towards the cost of replacing it.
  
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• Texas Instruments posts rare revenue rise as consumers splurge on electronics

  20-10-2020 22:46 via uk.finance.yahoo.com
  
  TI, which supplies chips for everything from smartphones to automobiles, often reports quarterly results before its peers."While visibility for the near-term demand has improved, we remain cautious as the broader economic impact of the global pandemic could continue for several years," Dave Pahl, head of the company's investor relations, told analysts.Under rules issued in 2019, American chipmakers such as TI were allowed to keep shipping some chips to Huawei from their factories outside the Uni
  
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• Texas Instruments forecasts current-quarter revenue above estimates

  20-10-2020 22:46 via uk.finance.yahoo.com
  
  TI, which supplies chips for everything from smart phones to automobiles, often reports quarterly results before its peers.The Dallas, Texas-based company said sales benefited from a notable rebound in automotive demand, as well as strong sales for chips used in personal electronics.TI shares were up 2% in extended trading.
  
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• Less carbon, more electric vehicles: automakers prepare for potential Biden win

  20-10-2020 22:27 via uk.finance.yahoo.com
  
  Automakers are gearing up for tough new vehicle emissions rules and policies favoring electric vehicles if Democratic presidential candidate Joe Biden wins the White House.Biden and U.S. President Donald Trump both need the votes of auto workers in Midwestern swing states such as Michigan and Ohio, and both say they want automakers to create more auto jobs in the United States, rather than Mexico or China.From there, Trump's and Biden's policies for autos and transportation diverge, presenting a
  
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• Johnson’s 3-year UK spending masterplan set to be ditched

  20-10-2020 22:27
  Sunak tells No 10 comprehensive review should not go ahead amid Covid, delivering major blow to PM and defence plans
  
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• Johnson’s 3-year UK spending master plan set to be ditched

  20-10-2020 22:27
  Sunak tells No 10 comprehensive review should not go ahead amid Covid, dealing blow to PM and defence plans
  
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• September budget deficit bigger than expected at £36.1bn – live updates

  20-10-2020 22:23 via uk.finance.yahoo.com
  
  Inflation and borrowing data at 7am The FTSE 100 set to rise at the open US markets close slightly higher Google faces break-up over US claims it violates monopoly law Jeremy Warner: China’s manufactured growth is no cause for self-congratulation Sign up here for our daily Business Briefing newsletter
  
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• Borrowing and inflation figures set for release – live updates

  20-10-2020 22:23 via uk.finance.yahoo.com
  
  Inflation and borrowing data at 7am The FTSE 100 set to rise at the open US markets close slightly higher Google faces break-up over US claims it violates monopoly law Jeremy Warner: China’s manufactured growth is no cause for self-congratulation Sign up here for our daily Business Briefing newsletter
  
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• US lawmakers more optimistic on stimulus as deadline looms

  20-10-2020 22:17 via uk.finance.yahoo.com
  
  Chances for approving a new spending package to support the US economy improved dramatically on Tuesday after the senior Democratic lawmaker said a bill is in the works and the top Senate Republican said he would bring it to a vote.
  
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• Snap shares jump as user growth, revenue beat estimates

  20-10-2020 22:17 via uk.finance.yahoo.com
  
  Snap has positioned itself as a safe place for brands to advertise because it focuses on one-on-one messages which disappear once they are read.It opened an opportunity for Snap as companies reviewed their ad spending, and helped contribute to revenue growth, said Jeremi Gorman, Snap's chief business officer, during an earnings call with analysts.Snap has "unique ad offerings, such as augmented-reality advertising," that helped its performance, said Debra Aho Williamson, an analyst at research f
  
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• Snap beats user growth and revenue estimates, shares jump 18%

  20-10-2020 22:17 via uk.finance.yahoo.com
  
  Revenue, which Snap earns mainly from selling ads on the app, jumped 52% to $679 million, widely beating analysts' consensus estimate of $555.9 million.It opened an opportunity for Snap as companies reviewed their ad spending, and helped contribute to revenue growth, said Jeremi Gorman, Snap's chief business officer, in prepared remarks for an earnings call with analysts.Snap said current-quarter revenue could grow between 47% to 50% over the year-ago period, but cautioned that it was unclear ho
  
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• Snap beats estimates for user growth and revenue, shares rise

  20-10-2020 22:17 via uk.finance.yahoo.com
  
  Revenue, which Snap earns mainly from selling ads on the app, jumped 52% to $679 million, widely beating analysts' consensus estimate of $555.9 million.It opened an opportunity for Snap as companies reviewed their ad spending, and helped contribute to revenue growth, said Jeremi Gorman, Snap's chief business officer, in prepared remarks for an earnings call with analysts.Snap said current-quarter revenue could grow between 47% to 50% over the year-ago period, but cautioned that it was unclear ho
  
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• Netflix misses estimates for paid subscriber additions

  20-10-2020 22:03 via uk.finance.yahoo.com
  
  The company said it added 2.2 million paid subscribers globally during the quarter that ended Sept. 30 compared with analysts' estimates of 3.4 million, according to IBES data from Refinitiv.Looking ahead, Netflix forecast it would bring in 6 million new subscribers around the globe, short of the 6.51 million that analysts expected.Shares of Netflix, one of the biggest gainers this year as people stayed home amid the pandemic, dropped nearly 6% to $494 in after-hours trading on Tuesday.
  
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• Netflix misses estimates for new subscribers as pandemic boost slows

  20-10-2020 22:03 via uk.finance.yahoo.com
  
  The company said it added 2.2 million paid subscribers globally during the quarter that ended Sept. 30 compared with analysts' estimates of 3.4 million, according to IBES data from Refinitiv.Looking ahead, Netflix forecast it would bring in 6 million new subscribers around the globe, short of the 6.51 million that analysts expected.Shares of Netflix, one of the biggest gainers this year as people stayed home amid the pandemic, dropped nearly 6% to $494 in after-hours trading on Tuesday.
  
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• Netflix falls short on new subscribers as pandemic boost fizzles

  20-10-2020 22:03 via uk.finance.yahoo.com
  
  The company added 2.2 million paid subscribers globally during the quarter that ended Sept. 30, missing Wall Street's target of 3.4 million and its own forecast.Earnings per share also landed below analyst expectations at $1.74.Shares of Netflix, one of the biggest gainers this year as people stayed home amid the pandemic, dropped nearly 6% to $494 in after-hours trading on Tuesday.
  
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• Tesla analysts hope for Musk sign on 2020 delivery goal during third-quarter call

  20-10-2020 22:02 via uk.finance.yahoo.com
  
  The electric carmaker has stuck to its forecast of delivering half a million vehicles in 2020 despite a global pandemic and economic upheaval that has sunk most of its internal combustion rivals deep into the red.Analysts on average expect Tesla to report net income of $593 million in the third quarter on revenue of $8.4 billion, according to Refinitiv data.Several analysts, including Frank Schwope at Nord/LB, believe the positive numbers are due to regulatory credits - payments Tesla receives f
  
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• Can Tesla hit 2020 delivery goal? Investors watch for Musk steer

  20-10-2020 22:02 via uk.finance.yahoo.com
  
  The electric carmaker has stuck to its forecast of delivering half a million vehicles in 2020 despite a global pandemic and economic upheaval that has sunk most of its internal combustion rivals deep into the red.Analysts on average expect Tesla to report net income of $593 million in the third quarter on revenue of $8.4 billion, according to Refinitiv data.Several analysts, including Frank Schwope at Nord/LB, believe the positive numbers are due to regulatory credits - payments Tesla receives f
  
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• Atlantia gives CDP-consortium until Oct. 27 to improve Autostrade bid

  20-10-2020 22:00 via uk.finance.yahoo.com
  
  Italy's Atlantiasaid it would give a consortium led by state lender Cassa Depositi e Prestiti (CDP) until Oct. 27 to improve a bid for the group's 88% stake in motorway business Autostrade per l'Italia.In a statement confirming what sources told Reuters earlier on Tuesday, Atlantia said its board had examined the preliminary offer presented by CDP and investment funds Macquarie and Blackstone.CDP said late on Monday the consortium aimed to sign a memorandum of understanding with Atlantia by Oct.
  
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• Ministers threaten to seize control of Transport for London

  20-10-2020 21:44 via uk.finance.yahoo.com
  
  Ministers have threatened to strip Sadiq Khan of control of London's transport network unless he agrees to hike council tax and fares and extend the congestion charge zone, in return for funding. Grant Shapps, the Transport Secretary, hit the London mayor with a series of demands in return for a £4.9bn bailout from Westminster to rescue Transport for London (TfL). Ministers could seize direct control of Transport for London if Mr Khan - who is currently its chairman - refuses to slash cost
  
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• Snapchat shares surge after advertisers boycott Facebook

  20-10-2020 21:34 via uk.finance.yahoo.com
  
  Shares in Snapchat soared by as much as 21pc on Wednesday as advertisers boycotting Facebook and Instagram propelled it to blockbuster financial results. The teen-centric photo-sharing app raked in revenue of $679m (£525m) during the three months ending in September, up by 52pc since the same time last year and far outmatching Wall Street's expectations of around $550m. Its net losses also shrunk by 12pc year on year to $200m, while daily active users rose by 11m to 249m, thanks in part to
  
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• Why the US government is after Google's search engine monopoly

  20-10-2020 21:26 via uk.finance.yahoo.com
  
  After more than a year of speculation about how the US would approach a monopoly case against Google, on Tuesday, the Department of Justice went straight for the core of Google’s business: its giant search engine. Prosecutors said Google has acted anti-competitively to preserve its monopoly in both search and search advertising by paying billions of dollars every year to appear on iPhones and web browsers to lock out rivals, and stifling the development of new, alternative search engines.
  
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• Meet the lawyers behind the U.S. versus Google antitrust showdown

  20-10-2020 21:16 via uk.finance.yahoo.com
  
  The U.S. Justice Department and 11 states have filed an antitrust lawsuit accusing Alphabet Inc's Google of maintaining an illegal monopoly over internet search and search advertising.Shores joined the Justice Department last year to spearhead the Google investigation.Shores has spent his career at elite law firms, most recently Shearman & Sterling, where he defended corporations like Bank of America Corp and the oil company Equinor against antitrust claims.
  
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• Johnson buffeted by tussles with city leaders, business and Brussels

  20-10-2020 21:08
  Manchester forced into lockdown amid worsening relations with business on transition and frozen talks on Brexit
  
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• Boris Johnson confronted by serial stand-offs over Covid and Brexit

  20-10-2020 21:08
  Manchester forced into lockdown amid worsening relations with business on transition and frozen talks with Brussels
  
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• Boris Johnson buffeted by tussles with city leaders and Brussels

  20-10-2020 21:08
  Manchester forced into lockdown amid worsening relations with business on transition and frozen talks on Brexit
  
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• Phil Collins sues ex-wife Orianne Cevey for allegedly taking over mansion through ‘show of force’

  20-10-2020 21:06 via uk.finance.yahoo.com
  
  The pair originally split in 2006 before reconciling in 2016
  
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• 'Brexit is like moving house' Gove tells business in 'disastrous' conference call

  20-10-2020 20:55 via uk.finance.yahoo.com
  
  Michael Gove has compared Brexit to moving house in a "disastrous" call with business leaders. On a 20-minute conference call with trade bodies and bosses from 250 leading companies, Cabinet Minister Mr Gove and Prime Minister Boris Johnson warned UK firms to prepare for a possible no-deal end to talks with the European Union. Mr Gove described Brexit as being "like moving house, it’s a hassle at first but you are upgrading”. One business leader said: "The idea is that [no-deal prepa
  
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• Lawsuit against Google is a significant and long overdue moment

  20-10-2020 20:46 via uk.finance.yahoo.com
  
  Lawsuit against Google is a significant and long overdue momentThe anti-monopoly claim against Alphabet will take years in the courts but a case has been brought nonetheless
  
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• Lawsuit against Google is a big and long overdue moment

  20-10-2020 20:46 via uk.finance.yahoo.com
  
  Lawsuit against Google is a big and long overdue momentThe anti-monopoly claim against Alphabet will take years in the courts but a case has been brought nonetheless
  
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• Market report: Trainline shares slump as boss departs

  20-10-2020 20:42 via uk.finance.yahoo.com
  
  Shares in Trainline hit the buffers yesterday after its long-term boss announced plans to step down in the new year. Clare Gilmartin, who guided the ticketing app through its stock market float last year, will hand the controls to Jody Ford, the chief operating officer, in February. Ms Gilmartin, who has run the company for seven years, said she wanted to spend more time with her family. She will continue as a senior adviser to the company. Her departure comes amid uncertainty within the rail in
  
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• Boris Johnson fails to calm business concerns over Brexit

  20-10-2020 20:42
  Bosses left disappointed after phone call with UK prime minister
  
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• Trainline boss departs two months after cashing in £3m in shares

  20-10-2020 20:19 via uk.finance.yahoo.com
  
  Trainline boss departs two months after cashing in £3m in shares. Clare Gilmartin leaving to ‘spend more time’ with her family, amid travel slump during pandemic
  
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• Big Tech and antitrust: where things stand

  20-10-2020 20:18 via uk.finance.yahoo.com
  
  US tech giants dominating the internet and making fortunes in the process are increasingly in the crosshairs of regulators.
  
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• Airports lose £83 million a week, study finds, as they call for passenger duty 'holiday' and VAT-free sales

  20-10-2020 20:12 via uk.finance.yahoo.com
  
  UK’s airports are losing £83 million a week due to Covid-19, according to an industry analysis, as they urged the Government to suspend air duty on passengers and retain VAT-free sales airside. The Airport Operators Association said the Covid-19 pandemic had brought international aviation to a near standstill with a projected loss by the end of the year of £4.3 billion for 2020. The AOA said the £83 million a week loss represented a significantly bigger cost to the econom
  
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• Goldman Sachs sends some London staff home following positive tests for COVID-19

  20-10-2020 20:11 via uk.finance.yahoo.com
  
  Goldman Sachshas sent some staff home from its London office after two employees tested positive for COVID-19.The U.S. investment bank sent a memo to staff at its Plumtree Court site in central London on Oct. 15 informing them of the positive tests and saying that people who had been in close contact with the staff members had been contacted by the bank's "Wellness team".Goldman Sachs is one of several banks that has encouraged groups of employees back into its London offices.
  
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• Government threatens to take direct control of Transport for London

  20-10-2020 20:08
  Mayor Sadiq Khan told he must accept ministerial demands, including higher fares, if he wants bailout
  
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• U.S. sees British trade deal 'reasonably soon'

  20-10-2020 19:57 via uk.finance.yahoo.com
  
  U.S. Trade Representative Robert Lighthizer said on Tuesday he was "very pleased" with progress in negotiations with Britain over a trade agreement and predicted a deal "reasonably soon".The United States and Britain launched negotiations on a free-trade agreement in May, vowing to work quickly to seal a deal as Britain completes its exit from the European Union.Lighthizer, speaking by video link from Washington to a British government conference on transatlantic co-operation, said talks were ta
  
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• U.S., Britain upbeat as trade talks enter new round

  20-10-2020 19:57 via uk.finance.yahoo.com
  
  The United States and Britain expressed optimism about the prospects of a trade deal on Tuesday as they launched the latest round of talks focused on goods and tariffs.U.S. Trade Representative Robert Lighthizer told a securityconference he was "very pleased" with progress in negotiations with Britain and predicted a trade deal "reasonably soon".British trade minister Liz Truss said the two sides wereintensifying talks as they enter a fifth round.
  
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• What new tier 3 lockdown restrictions mean for UK small businesses

  20-10-2020 19:54 via uk.finance.yahoo.com
  
  As we continue grappling with the new tier 3 restrictions, here's the lowdown on what they might mean for small businesses in the UK.
  The post What new tier 3 lockdown restrictions mean for UK small businesses appeared first on The Motley Fool UK.
  
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• Restaurants to accept business lunches through Covid loophole

  20-10-2020 19:51 via uk.finance.yahoo.com
  
  Some of the City's top restaurants are set to take advantage of a Covid loophole and restart bookings for business lunches despite a ban on household mixing in London. Firms including the Michelin-starred Galvin La Chapelle, The Wolseley and steakhouse chains Gaucho and M Restaurants have said they will accept business reservations with immediate effect due to an exemption written into the Government's guidelines. Swathes of other restaurants in London could now follow suit, along with those in
  
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• Airbus to operate drones searching for migrants crossing the Mediterranean

  20-10-2020 19:49 via uk.finance.yahoo.com
  
  Airbus to operate drones searching for migrants crossing the MediterraneanEuropean aerospace giant and two Israeli arms firms win EU contracts totalling €100m
  
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• Zoom and Instagram make top 100 most valuable brands list for the first time

  20-10-2020 19:21 via uk.finance.yahoo.com
  
  Zoom and Instagram are among tech companies to have made it onto a list of the world’s top 100 most valuable brands for the first time.The online-focused digital behemoths made it into consultancy Interbrand’s 2020 Best Global Brands Report on Tuesday, in a reflection of how the Covid-19 pandemic has boosted the sector.
  
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• Johnson to impose tougher Covid curbs on Manchester

  20-10-2020 19:09
  Lunchtime call between prime minister and mayor Andy Burnham fails to reach deal on level of financial support
  
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• Boris Johnson to impose tougher Covid curbs on Manchester

  20-10-2020 19:09
  Mayor Andy Burnham says government is ‘playing poker with peoples’ lives’ after failure to agree
  
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• Goldman set to pay $2bn following DoJ probe into 1MDB scandal

  20-10-2020 19:05 via uk.finance.yahoo.com
  
  Goldman Sachs is understood to be days away from announcing a deal with the US Department of Justice to pay over $2bn (£1.5bn) following a massive fraud in Malaysia. Sources told Bloomberg that the two sides have reached a long-awaited pact and that Goldman will avoid a US criminal conviction as a result. The decision comes after the Wall Street bank agreed to pay $3.9bn to Malaysian authorities in July for its role in the scandal at Malaysia’s 1MDB sovereign wealth fund in 2013. Mal
  
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• Goldman Sachs set to pay $2bn for 1MDB fraud

  20-10-2020 19:05 via uk.finance.yahoo.com
  
  Goldman Sachs is understood to be days away from announcing a deal with the US Department of Justice to pay more than $2bn (£1.5bn) following a massive fraud in Malaysia. Sources told Bloomberg that the two sides have reached a long-awaited pact and that Goldman will avoid a US criminal conviction as a result. The decision comes after the Wall Street bank agreed to pay $3.9bn to Malaysian authorities in July for its role in the scandal at Malaysia’s 1MDB sovereign wealth fund in 2013
  
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• Google hit by landmark competition lawsuit in US over search

  20-10-2020 18:54 via bbc.co.uk
  
  The US Justice Department accuses Google of disadvantaging its rivals in search and advertising.
  
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