Business news

• British special forces storm tanker to end suspected attempted hijacking

  25-10-2020 23:35
  Seven people detained after authorities regain control of oil vessel off UK coast
  
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• Foreign Office battered by fish and chips tycoon’s Saudi dispute

  25-10-2020 23:05 via uk.finance.yahoo.com
  
  THE Foreign Office faces questions in Parliament after refusing to intervene to free a British fish and chip entrepreneur arrested over unpaid debts following a dispute with Saudi royals. Labour MP Justin Madders said he will raise the case of his constituent Gary Arnold in the Commons after Foreign Office minister James Cleverly told him the Government would take no action, despite evidence that the Saudi royals have reneged on a legally-binding deal. Mr Arnold, 50, who successfully introduced
  
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• Boots in fresh court battle over rents

  25-10-2020 22:58 via uk.finance.yahoo.com
  
  BOOTS has been dragged into another High Court dispute over alleged unpaid rents, this time by Royal London. The high street chemist – owned by Walgreens Boots Alliance – is facing demands from the insurer to cough up amid growing anger from landlords, court filings show. Boots is allegedly refusing to pay rents owed at some sites during the nationwide lockdown, despite being an essential retailer and selling goods throughout. The chain has argued that footfall collapsed significantl
  
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• Hedge fund chief Hohn criticises lack of climate action

  25-10-2020 22:52 via uk.finance.yahoo.com
  
  One of Britain’s top hedge fund chiefs has hit out at the world’s biggest money managers over their record on climate change, accusing them of a “total greenwash”. Sir Chris Hohn, who runs TCI Fund Management, wrote to asset managers urging them to pressure firms into setting out how they can speed up the shift to a low-carbon world. In letters sent through his charity The Children’s Investment Fund Foundation, he said big asset managers were taking “insuffici
  
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• Small firms ‘shed staff at record rate’

  25-10-2020 22:44 via uk.finance.yahoo.com
  
  Small businesses laid off workers at a record rate in the third quarter of this year amid a two-year decline in confidence, a survey suggests. Revenue growth among Britain’s small companies also hit an all-time low as they struggled with Covid restrictions, according to the study of 1,500 firms by the Federation of Small Businesses. The small business index stood at minus 32.6 in the third quarter of the year, down 28 points on the second quarter. The result means that confidence has been
  
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• Coca-Cola's European partner makes $6.6 billion play for Australia bottler

  25-10-2020 22:16 via uk.finance.yahoo.com
  
  The Coca-Cola Co'sEuropean bottler has made a A$9.28 billion ($6.6 billion) buyout approach for Australian peer Coca-Cola Amatil Ltd , a cut-price proposal that the target firm has backed due to uncertainty related to the coronavirus.The deal would be the biggest takeover involving Australia this year but prices the target company below its market valuation in February, before fears of a COVID-19 pandemic began to rock global markets and plunged the world into recession.The support from the Aust
  
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• Coca-Cola European Partners makes $6.6 billion takeover offer for Coca-Cola Amatil

  25-10-2020 22:16 via uk.finance.yahoo.com
  
  The world's largest independent bottler of Coca-Cola is offering A$12.75 per share, an 18.6% premium to the last closing price of the Sydney-based company that operates across six countries in the Asia-Pacific.The takeover has the backing of Amatil's independent shareholders, the company said.U.S.-based Coca-Cola Coowns a 30.8% stake in Coca-Cola Amatil and a 19.4% stake in Coca-Cola European Partners, according to Refinitiv data.
  
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• German software giant SAP trims outlook on virus woes

  25-10-2020 21:56 via uk.finance.yahoo.com
  
  German software giant SAP on Sunday downgraded its outlook for 2020, saying a resurgence in coronavirus cases would weigh on demand from "hard hit" customers.
  
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• Special forces storm tanker to end suspected attempted hijacking

  25-10-2020 21:53
  Seven people detained and crew safe after authorities regain control of oil vessel
  
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• US insists on need to ban TikTok

  25-10-2020 21:32 via uk.finance.yahoo.com
  
  US President Donald Trump's administration has insisted on the need to ban TikTok due to national security concerns in a new court filing ahead of a plan to make the video app unavailable on November 12.
  
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• Markets set to slide on tighter Covid restrictions – live updates

  25-10-2020 20:58 via uk.finance.yahoo.com
  
  Government bankrolled Covid ad campaign weeks before lockdown began FTSE set to slide Asian markets drop Roger Bootle: A Brexit deal must do more than maintain the status quo Sign up here for our daily business briefing newsletter
  
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• Europe set to slide as tight restrictions reimposed – live updates

  25-10-2020 20:58 via uk.finance.yahoo.com
  
  Government bankrolled Covid ad campaign weeks before lockdown began FTSE set to slide Asian markets drop Roger Bootle: A Brexit deal must do more than maintain the status quo Sign up here for our daily business briefing newsletter
  
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• Foreign Office urged to intervene to free fish and chip entrepreneur embroiled in row with Saudi royals

  25-10-2020 20:56 via uk.finance.yahoo.com
  
  The Foreign Office faces questions in Parliament after refusing to intervene to free a British fish and chip entrepreneur arrested in a dispute with Saudi royals over their failure to honour a business deal. MP Justin Madders said he will raise the case of his constituent Gary Arnold in the Commons after Foreign Office minister James Cleverly told him the Government would not intervene despite evidence that the Saudi royals have reneged on a legally-binding deal. Mr Arnold, 50, who successfully
  
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• Lufthansa to ground more planes during winter as pandemic bites

  25-10-2020 20:34 via uk.finance.yahoo.com
  
  Deutsche Lufthansais preparing to ground more planes than planned and cut working hours during the winter as a surge in coronavirus infections is putting people off travelling.Lufthansa and its subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines will ground 125 more aircraft during the winter than originally planned, Chief Executive Carsten Spohr said in a letter to staff seen by Reuters.Most of the group's administrative staff will be put on a government-sponsored reduced hours scheme
  
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• SAP dumps mid-term targets, cuts 2020 view as coronavirus bites

  25-10-2020 19:53 via uk.finance.yahoo.com
  
  SAPon Sunday cut its guidance for the year and abandoned its forecast that profitability would expand steadily over the medium term, saying coronavirus lockdowns would hit demand well into 2021.The German business software group, a leader in enterprise applications ranging from finance to supply-chain management, said in an ad-hoc release it was shifting strategy to accelerate its push into cloud computing.Separately, SAP also released third-quarter results showing a 4% decline in adjusted total
  
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• SAP cuts 2020, mid-term guidance due to COVID-19 hit

  25-10-2020 19:53 via uk.finance.yahoo.com
  
  SAPcut its guidance for 2020 and for the medium term on Sunday, saying the reimposition of coronavirus lockdowns had hit its business while hard-hit industries would now take longer than expected to recover.The German business software group, a leader in enterprise applications ranging from finance to supply-chain management, said in an ad hoc filing that its earlier forecast that opening economies would revive demand now no longer held.
  
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• Police tackle ‘incident’ on tanker off south coast of England

  25-10-2020 19:31
  Greek-owned vessel ‘zigzagging’ in Channel reported to be dealing with stowaways
  
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• Dunkin' Brands discuss potential sale to Inspire Brands

  25-10-2020 19:14 via uk.finance.yahoo.com
  
  "There is no certainty that any agreement will be reached," said Karen Raskopf, Chief Communications Officer of Dunkin’ Brands.The deal being discussed would take Dunkin' Brands private at a price of $106.50 a share, said the New York Times which first reported the development.Inspire Brands, the owner of Arby's and Jimmy John's, declined to comment when contacted by Reuters.
  
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• UK-US trade deal cannot happen if Brexit talks fail, ex-official says

  25-10-2020 18:44 via uk.finance.yahoo.com
  
  Britain is highly unlikely to secure a US trade deal unless it first strikes an agreement with the European Union, a former top American official has warned. A prized tie-up between London and Washington will be off the table if talks with Brussels break down, according to former assistant US trade representative Barbara Weisel. She added that any agreement is also likely to be delayed if the Democrats win the White House next month, in a major blow to Boris Johnson’s Government. Ms Weisel
  
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• Police dealing with ‘ongoing incident’ on oil tanker

  25-10-2020 18:34 via uk.finance.yahoo.com
  
  Police and coastguard officers are dealing with an ongoing incident after stowaways were found on an oil tanker off the Isle of Wight coast.
  
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• Rolls-Royce promises production overhaul to secure £2bn lifeline

  25-10-2020 18:18 via uk.finance.yahoo.com
  
  Rolls-Royce shareholders are demanding a massive overhaul of the sprawling business ahead of a crunch vote on Monday on a deeply discounted £2bn rights issue. Sources close to the struggling company said major investors will only back the emergency fundraising bid if they are utterly convinced by chief executive Warren East and the board that Rolls will be “transformed from an empire into a proper business”. One insider said: “Top shareholders needed to be won over to sup
  
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• Rolls-Royce investors demand major changes to back £2bn cash call

  25-10-2020 18:18 via uk.finance.yahoo.com
  
  Rolls-Royce shareholders are demanding a massive overhaul of the sprawling business ahead of a crunch vote on Monday on a deeply discounted £2bn rights issue. Sources close to the struggling company said major investors will only back the emergency fundraising bid if they are utterly convinced by chief executive Warren East and the board that Rolls will be “transformed from an empire into a proper business”. One insider said: “Top shareholders needed to be won over to sup
  
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• Axa sued for £1.7m over fire payout ‘document tampering’ claim

  25-10-2020 18:02 via uk.finance.yahoo.com
  
  Axa is being sued for £1.7m over claims of document tampering that resulted in a lower payout for a customer whose property was damaged in a fire. The insurer faces legal action by property investor Aubrey Weis and his company Elcombe Limited, who claim in court papers that Axa conspired with insurance broker Lockton following a fire at the Golden Triangle industrial estate in Cheshire. As broker, Lockton arranged cover for Mr Weis’s companies to be placed with Axa, which would pay o
  
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• 10 best 4K TVs that are perfect for binge-watching films

  25-10-2020 17:53 via uk.finance.yahoo.com
  
  Upgrade your home cinema experience with a top quality screen
  
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• Fears for ‘lost generation’ as manufacturers snub apprentice scheme

  25-10-2020 17:47 via uk.finance.yahoo.com
  
  A £2,000 taxpayer-funded incentive is failing to persuade employers to hire apprentices, sparking fresh fears over a “lost generation” of young workers as Covid wrecks jobs. Just 12.5pc of businesses in the manufacturing and industrial sector - the traditional heartland of vocational training - said the Government cash influenced their decisions on whether or not to employ apprentices, according to research by trade group MakeUK. Around 43.5pc of industrial companies said they
  
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• Coronavirus: Lloyds tells staff to work from home until spring

  25-10-2020 17:44 via uk.finance.yahoo.com
  
  Lloyd’s move is the latest in a number of firms that have begun to reevaluate their working options since COVID-19 forced nationwide and localised lockdowns.
  
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• Ervine Glenny obituary

  25-10-2020 17:41 via uk.finance.yahoo.com
  
  Ervine Glenny obituary
  
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• Bill Fearns obituary

  25-10-2020 17:36 via uk.finance.yahoo.com
  
  Bill Fearns obituary
  
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• The Independent is awarded 100% trust rating by media watchdog NewsGuard

  25-10-2020 17:21 via uk.finance.yahoo.com
  
  Media standards organisation assesses thousands of news outlets around the world for trustworthiness
  
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• Zoom and Instagram enter ranks of 'best' global brands

  25-10-2020 16:58 via uk.finance.yahoo.com
  
  Communication brands have weathered the coronavirus storm better than other sectors, according to Interbrand’s Best Global Brands report.
  
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• VW to have Audi unit oversee UK brand Bentley - Automobilwoche

  25-10-2020 16:46 via uk.finance.yahoo.com
  
  Volkswagen plans to make British luxury carmaker Bentley a subsidiary of its Audi division as it seeks economies of scale among its top-end brands, German trade publication Automobilwoche reported.Bentley, for now overseen by the head of VW's Porsche business, Oliver Blume, will from next year be part of Audi, where VW group Chief Executive Herbert Diess believes it has more potential, Automobilwoche cited company sources as saying.
  
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• NBA trade rumours: Which off-season trades could change championship odds in 2020-21

  25-10-2020 16:38 via ibtimes.co.uk
  
  The off-season shuffle can provide some teams with the ammunition to challenge the Lakers next season.
  
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• NBA 2019-20 season lost approximately 1.5 billion dollars

  25-10-2020 16:26 via ibtimes.co.uk
  
  The novel coronavirus pandemic has plunged the NBA into a financial crisis.
  
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• NBA legend Michael Jordan believes he won't survive playing in the social media era

  25-10-2020 16:15 via ibtimes.co.uk
  
  The basketball superstar thinks he would not be able to bear the invasion of privacy if he was still playing.
  
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• British horseracing struggles as prize money dwindles

  25-10-2020 15:28
  Financial rewards on offer in top UK races fall further behind international peers
  
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• Serco staff told to wear masks in courts and cells after complaints

  25-10-2020 15:27 via uk.finance.yahoo.com
  
  Serco staff told to wear masks in courts and cells after complaintsJustice ministry orders Serco and other security firms to wear masks as infections rise* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Canada's Cenovus and Husky merge to create integrated energy leader

  25-10-2020 15:18 via uk.finance.yahoo.com
  
  The Boards of Directors of Cenovus and Husky unanimously approved the transaction, which is expected to close in the first quarter of 2021.
  
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• Stock market crash: these cheap shares pay a 7% dividend, but would I buy?

  25-10-2020 15:13 via uk.finance.yahoo.com
  
  The stock market crash has pushed these cheap shares down towards the £1 mark. They now pay a 7% yearly cash dividend, but would I buy them?
  The post Stock market crash: these cheap shares pay a 7% dividend, but would I buy? appeared first on The Motley Fool UK.
  
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• Post Office to shut 600 ATMs in blow for high streets across Britain

  25-10-2020 15:12 via uk.finance.yahoo.com
  
  The Post Office is to axe 600 free to use cash machines from its branches in a fresh blow to Britons who rely on cash to make everyday purchases. There are currently 2,000 ATMs at Post Office branches but this will fall to 1,400 as the business prioritises cash points that it believes are commercially viable. The cuts come against a backdrop of bank branch and cash point closures, making it more difficult for people who rely on cash to access it. The rise of card, contactless and mobile payments
  
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• Building 22 Bishopsgate isn’t a mistake, says Axa real estate boss

  25-10-2020 14:54 via uk.finance.yahoo.com
  
  Starting a new job normally comes with a frenzy of activity, but Isabelle Scemama’s ascension to one of highest posts in global investment coincided with a global lockdown that gave her room to slow down and think. “It was surprising not to wake up every morning and to take the next plane or the next train,” says the 53-year-old Parisienne, who was appointed global head of alternatives at Axa Investment Managers (Axa IM) at the start of March. “And I am privileged, so it
  
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• Covid-19: Lloyds staff to work from home until spring

  25-10-2020 14:51 via bbc.co.uk
  
  Staff currently working from home because of the pandemic will be asked to do so until spring 2021.
  
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• GP-on-demand service Push Doctor to announce £13.7m fundraise

  25-10-2020 14:43 via uk.finance.yahoo.com
  
  GP-on-demand service Push Doctor has raised £13.7m after customer numbers more than doubled to 5.4m after coronavirus struck. The company secured the cash from existing backers including London-listed venture capital firm Draper Esprit and Accelerated Digital Ventures. Part of the money also came from the Government’s Future Fund scheme, which was launched to help start-ups hammered by Covid. The round is understood to value the Manchester-based company at about £60m. It was la
  
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• Starling founder Anne Boden reveals rift with Monzo chief Tom Blomfield in new book

  25-10-2020 14:30 via uk.finance.yahoo.com
  
  They represent two of the biggest upstarts in banking, both seeking to revolutionise a hidebound industry. But now an explosive tell-all memoir reveals the rivalry between Starling Bank boss Anne Boden and Monzo co-founder Tom Blomfield is personal as well as professional. The pair suffered a brutal falling-out which triggered a huge power struggle when they were partners at Starling. Ms Boden claims that Mr Blomfield sought to seize control of the firm and poach its staff. When the coup fell th
  
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• Stock market crash: how I’d invest money in UK shares today to get rich

  25-10-2020 14:27 via uk.finance.yahoo.com
  
  Buying a diverse range of UK shares with long-term recovery potential may allow one to capitalise on the recent stock market crash.
  The post Stock market crash: how I’d invest money in UK shares today to get rich appeared first on The Motley Fool UK.
  
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• Ranked: Cities with the best work-life balance

  25-10-2020 13:57 via uk.finance.yahoo.com
  
  Holland and Barrett’s Sunlight Cities Index ranks which cities are the best for a better work-life balance, taking into account hours asleep, hours worked and time spent in the sun.
  
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• Stop saving and start investing! How I’d turn £100 per week into a £1m ISA

  25-10-2020 13:56 via uk.finance.yahoo.com
  
  Within 20 years, the returns I will be getting could be greater than the amount invested. And, after 36 years, that could become a £1m ISA.
  The post Stop saving and start investing! How I’d turn £100 per week into a £1m ISA appeared first on The Motley Fool UK.
  
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• UK should avoid costly mega projects such as HS2, say academics

  25-10-2020 13:41
  Report points to smaller and faster investment to stimulate economy after pandemic
  
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• Royal Mail to hire record number of Christmas temps

  25-10-2020 13:23 via uk.finance.yahoo.com
  
  Royal Mail to hire record number of Christmas temps. 33,000 extra workers to help handle surge in parcels from online shopping
  
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• Protests in Poland against strict abortion law

  25-10-2020 13:23 via uk.finance.yahoo.com
  
  On Friday protesters marched through many cities in Poland, after a top court declared it illegal to abort in cases of foetal malformation, because it is considered “incompatible” with the Polish constitution.98% of legal abortions in the country in 2019 were carried out because of foetal abnormalities. Now, women in Poland are only allowed to terminate their pregnancy in cases of rape, incest or when the mother’s health is at risk.Opposition parties in Poland, the European Uni
  
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• Desperate UK Covid home workers renting solace from nimble-footed firms

  25-10-2020 13:17 via uk.finance.yahoo.com
  
  Desperate UK Covid home workers renting solace from nimble-footed firms. Offers of desk space, good wifi and refreshment is helping hotels and others to balance their books
  
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