Business news

• Coronavirus: KFC to create 5,400 jobs across UK and Ireland

  22-10-2020 23:15 via uk.finance.yahoo.com
  
  Restaurant chain KFC has announced plans to create a further 5,400 jobs following a surge in demand for takeaway meals during the coronavirus crisis.
  
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• Airbus tells suppliers: plan now for post-crisis output hike

  22-10-2020 23:12 via uk.finance.yahoo.com
  
  Airbushas asked suppliers to be ready to support a conditional 18% increase in production of its best-selling single-aisle A320 jet family once demand recovers from the coronavirus crisis, the European planemaker said on Thursday.It is among the first visible moves by aerospace firms to prepare for a possible bounce back from the pandemic and comes days after a major buyer, Wizz Air , predicted a quick rebound for the strongest budget carriers.Airbus said it had asked suppliers to "protect" a pr
  
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• Stock markets see modest gains as virus cases spike

  22-10-2020 23:08 via uk.finance.yahoo.com
  
  Global stock markets saw modest gains Thursday following losses the previous session, with investors spooked by a sharp rise in coronavirus cases and continued uncertainty over a pre-election stimulus package in Washington.
  
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• Intel shares tumble as pandemic hits results

  22-10-2020 23:04 via uk.finance.yahoo.com
  
  Computer chipmaker Intel saw shares slide Thursday after reporting weak sales for its data center and internet of things operations that overshadowed improvement in the personal computer market.
  
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• Big data firm Palantir working with US on vaccine effort

  22-10-2020 22:51 via uk.finance.yahoo.com
  
  Big data company Palantir is working with US health officials on a project to track the production and distribution of future Covid-19 vaccines.
  
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• Retail sales could mark last gasp for summer economic bounceback – live updates

  22-10-2020 22:39 via uk.finance.yahoo.com
  
  Pub chiefs say £13bn rescue package won’t ease winter misery FTSE 100 edged up to close at 5,785.65 US markets closed higher as data showed an improved economy and stimulus bill talks continue Ben Marlow: British Airways faces a rocky ride to safety Sign up here for our daily Business Briefing newsletter
  
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• Retail sales beat expectations as Brits extend spending spree – live updates

  22-10-2020 22:39 via uk.finance.yahoo.com
  
  Pub chiefs say £13bn rescue package won’t ease winter misery FTSE 100 edged up to close at 5,785.65 US markets closed higher as data showed an improved economy and stimulus bill talks continue Ben Marlow: British Airways faces a rocky ride to safety Sign up here for our daily Business Briefing newsletter
  
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• Intel's revenue from data-center business misses estimates, shares slide

  22-10-2020 22:11 via uk.finance.yahoo.com
  
  Revenue from Intel's data-center business fell 7% to $5.9 billion in the reported quarter, while analysts on average had expected revenue of $6.21 billion, according to FactSet.Intel is the dominant provider of processor chips for PCs and data centers, but the company has struggled with manufacturing delays, saying in July that its next generation of chipmaking technology has slipped six months behind schedule.Rivals such as Advanced Micro Devices Incand Nvidia Corp , which use outside manufactu
  
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• Intel's margins tumble as customers shift to cheaper chips, shares slide 10%

  22-10-2020 22:11 via uk.finance.yahoo.com
  
  Intel, the dominant provider of processor chips for PCs and data centers, has struggled with manufacturing delays.Chip sales are booming, but customers want lower-priced chips rather than Intel's pricier high-performance offerings, dragging overall gross margins.The pandemic has given Intel a boost in the form or surging laptop sales as employees and students work and learn from home.
  
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• 4 lessons from recent identity theft cases

  22-10-2020 22:06 via uk.finance.yahoo.com
  
  Recent identity theft cases and statistics remind us that we need to keep our guard up and keep our perssonal details safe.
  The post 4 lessons from recent identity theft cases appeared first on The Motley Fool UK.
  
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• Goldman to pay $3 billion, claw back executive pay over role in 1MDB corruption scandal

  22-10-2020 22:03 via uk.finance.yahoo.com
  
  Goldman Sachs Group Incon Thursday said it was clawing back $174 million in executive compensation and had agreed to pay $2.9 billion over its role in Malaysia’s 1MDB corruption scandal, lifting a cloud that has hung over the bank for years.The settlement with the U.S. Department of Justice and other U.S. and overseas regulators resolves a probe into the role Goldman Sachsbankers played in helping to steal cash, which Goldman helped raise, from the Malaysian state fund.While the scandal ha
  
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• Rishi Sunak forced to offer multibillion-pound job package as Covid fears mount

  22-10-2020 22:01 via uk.finance.yahoo.com
  
  Rishi Sunak forced to offer multibillion-pound job package as Covid fears mount. Chancellor announces new support deal amid concerns over mass unemployment
  
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• AOC played Among Us and achieved what most politicians fail at: acting normal

  22-10-2020 21:52 via uk.finance.yahoo.com
  
  AOC played Among Us and achieved what most politicians fail at: acting normalAlexandria Ocasio-Cortez and Ilhan Omar livestreamed the video game on Twitch – and by every metric their unusual voter outreach event was a success
  
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• Americans hit by pandemic create start-ups at record clip

  22-10-2020 21:48 via uk.finance.yahoo.com
  
  Americans enduring a feeble economy and high unemployment because of the coronavirus pandemic are creating start-up companies at a record pace.
  
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• Victoria rolls out red carpet for Koch Industries funding

  22-10-2020 21:33
  US business dynasty takes £175m stake in British flooring manufacturer
  
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• Koch Industries funding gives new twist to carpet maker Victoria

  22-10-2020 21:33
  US business dynasty takes £175m stake in British flooring manufacturer
  
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• Rishi Sunak's £13bn support package is 'too little, too late' say pub and restaurant bosses

  22-10-2020 21:31 via uk.finance.yahoo.com
  
  Rishi Sunak’s £13bn rescue plan will help protect 500,000 hospitality jobs but cannot prevent a winter crisis in the battered industry, bosses have said. The Chancellor’s latest package is expected to stop thousands of lay-offs planned when furlough comes to an end later this month - but pub and restaurant chiefs warned that only a more business-friendly Covid regime can stave off disaster in the longer term. Mr Sunak is offering cash grants to firms and more support for part-t
  
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• Pub chiefs say £13bn rescue package won’t ease winter misery

  22-10-2020 21:31 via uk.finance.yahoo.com
  
  Rishi Sunak’s £13bn rescue plan will help protect 500,000 hospitality jobs but cannot prevent a winter crisis in the battered industry, bosses have said. The Chancellor’s latest package is expected to stop thousands of lay-offs planned when furlough comes to an end later this month - but pub and restaurant chiefs warned that only a more business-friendly Covid regime can stave off disaster in the longer term. Mr Sunak is offering cash grants to firms and more support for part-t
  
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• Sunak announces more generous UK jobs support scheme

  22-10-2020 21:29
  Chancellor triples aid package with big changes to his successor plan for furlough programme
  
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• Rishi Sunak announces more generous UK job support scheme

  22-10-2020 21:29
  Chancellor triples aid package with big changes to his successor plan for furlough programme
  
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• Questor: Our income looks secure so let’s look at readers’ other priority – avoiding IHT

  22-10-2020 21:28 via uk.finance.yahoo.com
  
  Few investors have suffered more from the impact of coronavirus on the stock market than income seekers. Three quarters of companies cut or cancelled payouts in the second quarter of the year and for 2020 as a whole divis will fall by about 39pc, according to the Link dividend monitor. This column took action in the spring to shed firms that had cancelled their dividends or seemed likely to and now has a spread of assets that are all pulling their weight when it comes to income generation. They
  
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• Markets report: Funding round sees Shaftesbury dive

  22-10-2020 21:17 via uk.finance.yahoo.com
  
  Shares in West End landlord Shaftesbury dived yesterday after it announced plans to raise £307m from shareholders to help it weather the pandemic. The FTSE 250 group – which previously warned many of its tenants were struggling to meet obligations due to Covid-19 disruption – said it had launched the capital raising to ensure it “maintains a strong financial base”. Shaftesbury’s board said it is “focused on eliminating short-term financing risk while Cov
  
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• Rishi Sunak steps up efforts to avert mass unemployment

  22-10-2020 21:07
  UK chancellor has overhauled his job support scheme in response to second wave of coronavirus
  
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• Chancellor steps up efforts to avert mass unemployment

  22-10-2020 21:07
  Sunak has overhauled his job support scheme in response to the second wave of coronavirus
  
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• Home Office rejects easing of health recruitment rules

  22-10-2020 21:05
  Migration Advisory Committee had called for loosening of post-Brexit restrictions
  
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• France halts Engie's U.S. LNG deal amid trade, environment disputes

  22-10-2020 21:04 via uk.finance.yahoo.com
  
  The French government asked power group Engieto hold off on signing a multibillion-dollar U.S. liquefied natural gas import contract on concerns over the deal's environmental implications, a source familiar with the matter said.The intervention comes amid growing scrutiny over the effects of shale gas extraction methods such as fracking and their impact on climate change through methane emissions, especially among U.S. producers.
  
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• Fish and chip entrepreneur sues Saudi royals in row over unpaid debts

  22-10-2020 20:55 via uk.finance.yahoo.com
  
  A British entrepreneur who introduced fish and chips to the Middle East is taking Saudi royal family members to the High Court over their failure to honour a deal that has left him facing jail for debts. Gary Arnold, 50, was arrested in Dubai this week over unpaid debts which he blames on the failure of the Saudi royals to keep their part of a legally-binding deal to buy out his business which he grew to 36 branches across Saudi Arabia, UAE and the Middle East. His lawyer, Toby Cadman, told The
  
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• End SARS: Nigerian President Muhammadu Buhari says world should 'know all facts' after alleged protest deaths

  22-10-2020 20:49 via uk.finance.yahoo.com
  
  Nigeria's president has called on the international community "to know all facts" following widespread condemnation over the alleged deaths of anti-police brutality protesters.
  
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• Goldman Sachs reaches $2.9bn deal to settle US-led 1MDB inquiry

  22-10-2020 20:45 via uk.finance.yahoo.com
  
  Goldman Sachs reaches $2.9bn deal to settle US-led 1MDB inquiryBank’s Malaysia division agrees to plead guilty to violating foreign bribery laws
  
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• 'It would pay for one worker': tier 2 businesses on latest Covid funding

  22-10-2020 20:30 via uk.finance.yahoo.com
  
  'It would pay for one worker': tier 2 businesses on latest Covid funding. Hospitality and leisure bosses welcome grants but remain wary of uncertain future
  
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• After the latest Covid job support U-turn, Sunak's halo has gone

  22-10-2020 20:27 via uk.finance.yahoo.com
  
  After the latest Covid job support U-turn, Sunak's halo has goneChancellor’s winter economic plan didn’t make it through autumn and his second try may require tweaks
  
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• Gap considers closing stores and depot in the UK next year

  22-10-2020 20:05 via uk.finance.yahoo.com
  
  Gap told staff this week that it could exit its business in Europe, which could see scores of store close in the UK, with its distribution centre in the Warwickshire market town of Rugby also at risk. The American fashion chain has more than 70 branches in the UK and just under 130 elsewhere in Europe. Mark Breitbard, the head of Gap’s global operations, said he wanted to bolster its franchise model rather than own shops. The move, which could lead to more job losses in retail, would be &l
  
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• Coronavirus outbreak at Bernard Matthews turkey plant after 75 workers test positive

  22-10-2020 19:51 via uk.finance.yahoo.com
  
  ‘Precautionary testing’ led to discovery of cases, council says
  
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• Goldman Sachs to pay $3bn over 1MDB corruption scandal

  22-10-2020 19:47 via bbc.co.uk
  
  The investment bank will pay a record sum for violating bribery laws in the 1MDB corruption affair.
  
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• Permanently remote workers seen doubling in 2021 due to pandemic productivity - survey

  22-10-2020 19:45 via uk.finance.yahoo.com
  
  The percentage of workers around the world that is permanently working from home is expected to double in 2021 as productivity has increased during the coronavirus pandemic, according to a survey from U.S.-based Enterprise Technology Research (ETR).ETR in September surveyed about 1,200 chief information officers from around the world across different industries.The CIOs also expressed increased optimism about business prospects in 2021, as they see an increase in tech budgets by 2.1%, compared w
  
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• How much has Covid cost Government departments?

  22-10-2020 19:37 via uk.finance.yahoo.com
  
  The pandemic has forced ministers to loosen the purse strings.
  
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• Goldman Sachs agrees to largest penalty ever in 1MDB scandal

  22-10-2020 19:34 via uk.finance.yahoo.com
  
  Global financial titan Goldman Sachs agreed to pay $2.9 billion in penalties to settle criminal charges in the 1MDB Malaysian bribery scandal, the largest US fine ever in a corruption case, the Justice Department announced Thursday.
  
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• Viagogo may be forced to sell StubHub to stop fans being hit with higher ticket prices

  22-10-2020 19:25 via uk.finance.yahoo.com
  
  £3.2bn takeover earlier this year could cause ‘substantial lessening of competition’ among ticket resellers, watchdog warns
  
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• Liverpool hospitals treating more Covid patients than April

  22-10-2020 19:22 via uk.finance.yahoo.com
  
  Hospitals in Liverpool are treating more coronavirus patients than they were during the peak of the first wave of the pandemic, Dr Tristan Cope, medical director of Liverpool University Hospitals NHS Trust, said as he warned that numbers were continuing to rise.
  
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• Businesses hail Rishi Sunak’s ‘hugely generous’ job support package

  22-10-2020 19:15 via uk.finance.yahoo.com
  
  New measures give lifeline to firms but thousands of jobs already lost due to delay in fixing flawed Job Support Scheme
  
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• Grant Shapps says he would have built HS2 from north to south

  22-10-2020 19:10 via uk.finance.yahoo.com
  
  In his current role he examined whether construction could start in the north but it was 'impossible', Mr Shapps said.
  
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• Consumer confidence falls as millions are placed under new lockdown restrictions

  22-10-2020 19:08 via uk.finance.yahoo.com
  
  A fall in confidence could damage the UK's already struggling businesses
  
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• Facebook Oversight Board starts taking content moderation appeal cases

  22-10-2020 19:07 via uk.finance.yahoo.com
  
  The board is open to cases once a users has 'exhausted the company’s appeal process'.
  
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• New US jobless claims drop to 787,000 as stimulus talks stall

  22-10-2020 19:04 via uk.finance.yahoo.com
  
  New claims for US jobless benefits fell to 787,000 last week, the Labor Department said Thursday, as congressional negotiations over a new economic stimulus package lost momentum.
  
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• Partner at major law firm criticises 100k starting salaries for newly qualified solicitors

  22-10-2020 19:03 via uk.finance.yahoo.com
  
  A partner at a major law firm has criticised starting salaries soaring to more than £100,000 for some newly qualified solicitors. Richard Foley, a senior partner at Pinsent Masons, condemned the rates for junior roles at legal practices in the City, which have been driven up by competition for talent. He claimed the levels of pay were “unsustainable” as salaries for junior lawyers climbed as high as £142,000, driven by US law firms, the Financial Times reported. Speaking
  
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• Huawei Mate 40 phones launch despite chip freeze

  22-10-2020 19:02 via bbc.co.uk
  
  Chinese firm says its new phones are powered by the world's fastest mobile processor.
  
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• Europe needs laws to stop import of deforestation-linked products, lawmakers say

  22-10-2020 18:54 via uk.finance.yahoo.com
  
  The European Parliament on Thursday called for the European Union to introduce laws to prevent the import of commodities and products linked to deforestation and human rights abuses.The move comes as EU politicians face increased pressure from voters to combat climate change, and follows years of failed voluntary efforts by companies to combat deforestation through measures like third-party certification schemes.Parliament, in a report adopted on Thursday, called on the European Commission to pr
  
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• FTSE recovers from five-month lows to post small gain on quiet day for traders

  22-10-2020 18:52 via uk.finance.yahoo.com
  
  The index rose after positive noises from Washington.
  
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• UK opens travel corridor with Canary Islands

  22-10-2020 18:50 via uk.finance.yahoo.com
  
  Denmark, the Maldives and Greek island Mykonos have also been added to the quarantine exemption list.
  
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• Boris Johnson pledges to move ministers out of London

  22-10-2020 18:50
  Officials say shift to remote working during Covid crisis has made it easier to relocate civil servants
  
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