Business news

• Goldman Sachs attempted to cover up sexual misconduct, lawsuit claims

  26-10-2020 23:57 via uk.finance.yahoo.com
  
  Goldman Sachs Group Incattempted to cover up allegations of workplace sexual misconduct by the bank's global head of litigation, a lawsuit filed on Monday in New York State Supreme Court claimed.The lawsuit was filed by Marla Crawford, a former associate general counsel at the bank, against Goldman Sachs, the bank's General Counsel Karen Seymour and its Global Head of Litigation, Darrell Cafasso.The lawsuit claimed Cafasso used his position of power to "romantically prey upon a much younger and
  
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• Tiffany-LVMH deal clears regulatory hurdles with EU nod

  26-10-2020 22:42 via uk.finance.yahoo.com
  
  The approval from the European competition authorities comes amid a legal battle between LVMH and Tiffany, with the latter suing the Louis Vuitton owner in a Delaware court, alleging that the French company has deliberately been stalling the completion of the deal.Tiffany has alleged that LVMH has improperly tried to renegotiate the deal, while LVMH has countersued, alleging that the U.S. company has been mismanaged during the COVID-19 pandemic.
  
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• Stocks stumble on surge in virus cases, elusive US stimulus

  26-10-2020 22:40 via uk.finance.yahoo.com
  
  Wall Street had its worst session in weeks Monday, driven by spiking virus cases globally that could mean new business-strangling containment measures, as well as the worsening prospects of new stimulus for the US economy.
  
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• US stimulus talks slow but continue, prospects dimming

  26-10-2020 22:34 via uk.finance.yahoo.com
  
  US policymakers held another round of talks Monday on a new spending package to aid the virus-hit economy, but the negotiations have lost momentum, dimming hopes that an agreement can be reached before the November 3 election.
  
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• Markets report: US forecast puts Pearson on new page

  26-10-2020 22:14 via uk.finance.yahoo.com
  
  Analyst optimism boosted Pearson yesterday, sending the education giant’s shares to the top of the FTSE 100’s risers. UBS’s Adam Berlin said the US higher education sector presented a “material opportunity” for Pearson, boosting its target price to 650. Following a deep dive into the company’s operations, he said Pearson’s next-generation digital learning products could drive higher adoption, especially as US higher education institutes adapt to the pand
  
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• Bill Gross accused of blasting Gilligan's Island theme at neighbour in feud over $1m lawn sculpture

  26-10-2020 22:11 via uk.finance.yahoo.com
  
  The legendary investor Bill Gross has become entangled in a bitter legal feud with his Los Angeles neighbour over a $1m (£770,000) glass outdoor sculpture, a priceless clifftop view and an alleged campaign of musical harassment. Mr Gross, once dubbed the “bond king” for his titanic holdings under his company Pimco, is accused by tech entrepreneur Mark Towfiq of embarking on a campaign of abuse that allegedly included deafening “nightly concerts” of pop songs, rap mu
  
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• Facebook takes mobile games into the cloud

  26-10-2020 22:10 via uk.finance.yahoo.com
  
  Facebook on Monday put its spin on cloud gaming by letting players instantly hop into an array of mobile games at the social network without downloading apps -- but won't be offering the service for Apple iOS devices.
  
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• Stock markets slide as Covid-19 cases rise

  26-10-2020 21:40 via bbc.co.uk
  
  The Dow falls as much as 3.3% before ending down 2.3% - its sharpest decline in weeks.
  
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• Rolls-Royce to temporarily close factories, cut benefits - FT

  26-10-2020 21:20 via uk.finance.yahoo.com
  
  The group also faces strike action at one of its oldest plants, at Barnoldswick in Lancashire in the UK, in protest at proposals to shift some production to Singapore, the Financial Times said.Rolls Royce staff were notified last week by email that the company was looking at new measures in its current cost-cutting drive to cope with the collapse in aircraft demand in the aftermath of the COVID-19 pandemic, the report said, citing a person with knowledge of the matter.A Rolls-Royce spokeswoman s
  
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• In proactive move, Twitter aims to 'pre-bunk' election falsehoods

  26-10-2020 21:16 via uk.finance.yahoo.com
  
  Twitter said Monday it would take the proactive step of alerting its users to potential misinformation in preparation for unverified claims about the November 3 US election.
  
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• US and European markets dip as Covid containment efforts founder

  26-10-2020 21:12 via uk.finance.yahoo.com
  
  US and European markets dip as Covid containment efforts founderInvestors’ summer optimism replaced by insecurity as curfews and lockdowns return* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Future of UK aerospace 'in doubt' without EU deal

  26-10-2020 20:52 via bbc.co.uk
  
  UK aerospace will lose out to rivals without a deal on the mutual recognition of parts, says industry body.
  
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• Uber sued by drivers over ‘automated robo-firing'

  26-10-2020 20:48 via bbc.co.uk
  
  Uber drivers claim they were wrongly dismissed by an algorithm without a right to appeal.
  
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• UK accused of letting private equity ‘cash in’ on loans

  26-10-2020 20:46
  Senior MP concerned companies may use borrowings to cover costs of the debt used to buy them
  
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• Wales retailers call for clarity on non-essential goods

  26-10-2020 20:39
  Devolved government weighs whether to allow shops not to have to enforce the law
  
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• Eurozone and US markets tumble as traders take fright over Covid surge

  26-10-2020 20:36 via uk.finance.yahoo.com
  
  Stock markets tumbled across Europe and the US on Monday amid rising panic over the second wave of Covid, a fresh crackdown on civil liberties and a brutal update from the Continent's largest software firm. Germany led the fallers after Frankfurt-listed IT behemoth SAP slashed profit and revenue forecasts, saying that major corporate clients are cutting back on spending due to fears of more chaos ahead. SAP shares plunged 22pc and the country's Dax index fell by 3.7pc. Meanwhile in America the S
  
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• EU backs Nigerian candidate for WTO leadership - EU official

  26-10-2020 20:30 via uk.finance.yahoo.com
  
  The European Union is backing former Nigerian finance minister Ngozi Okonjo-Iweala to head the World Trade Organization, sending a signal of trust in Africa, an EU official said on Monday.Okonjo-Iweala and South Korean trade minister Yoo Myung-hee are vying to be the first female leader in the WTO's 25-year history, replacing Brazilian Roberto Azevedo, who quit a year earlier than expected at the end of August.The EU's support for Okonjo-Iweala is considered a strong signal to reinforce the mult
  
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• Working from home is proving to be a revolution in our way of life

  26-10-2020 20:23 via uk.finance.yahoo.com
  
  Working from home is proving to be a revolution in our way of life. The implications are everywhere: from the reduced retail footfalls to losses at train companies
  
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• Firms sign up to #10000BlackInterns scheme for workplace diversity

  26-10-2020 20:08 via uk.finance.yahoo.com
  
  Firms sign up to 10000BlackInterns scheme for workplace diversity. NHS, Linklaters and PwC among companies pledging to cumulatively hire 10,000 black interns as part of campaign
  
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• Young people hit twice as hard by coronavirus job losses, study finds

  26-10-2020 19:50 via uk.finance.yahoo.com
  
  Younger generations seeing 'substantial and sustained hit to employment and education, LSE researchers say
  
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• Investors line up for Ant Group's record $34.4 billion IPO

  26-10-2020 19:40 via uk.finance.yahoo.com
  
  Ant Group Co Ltd is poised to raise up to $34.4 billion (26.41 billion pounds) in the world's largest stock market debut as investors rush to buy into the fast-growing Chinese fintech giant despite risks of greater scrutiny at home and abroad.The dual listing, a first for Shanghai's Nasdaq-style STAR Market and Hong Kong, would value Ant at about $312 billion before a so-called greenshoe option for a 15% overallotment of shares.At that valuation, Ant is worth more than Industrial and Commercial
  
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• UK restaurants warned against exploiting Covid restriction loophole

  26-10-2020 19:32
  Government says eateries must not use ‘business lunches’ exemption to fill their tables
  
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• UK government warns restaurants against exploiting Covid-19 loophole

  26-10-2020 19:32
  Eateries under tier-2 restrictions told not to use ‘business lunches’ exemption to fill their tables
  
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• Wales lockdown: Tesco 'wrong' to say period products 'not essential'

  26-10-2020 19:31 via bbc.co.uk
  
  It had cordoned off the aisle after a break-in, but told a customer it was due to lockdown rules.
  
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• EU backs Nigerian WTO candidate Okonjo-Iweala

  26-10-2020 19:22 via uk.finance.yahoo.com
  
  Nigerian finance ministrer Ngozi Okonjo-Iweala picked up crucial backing from the EU on Monday, sources said, giving her bid to become the first African head of the WTO a major boost.
  
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• Rolls-Royce prepares temporary closures and cuts to hours

  26-10-2020 19:21
  Aero-engine maker warns staff of austerity measures as it braces for first strike action in 41 years
  
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• Why Poland Needs A Dedicated Gambling Commission More Than Ever Before

  26-10-2020 19:17 via ibtimes.co.uk
  
  Since 1994, when the first virtual casino software emerged, the online gambling world has been experiencing the growth of interest not only among experienced, land-based casino players but also amateurs who got to see lucrative opportunities in virtual gambling
  
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• Dunkin Donuts owner soars on takeover talks

  26-10-2020 19:17 via uk.finance.yahoo.com
  
  Shares in the owner of Dunkin' Donuts and Baskin-Robbins ice cream hit a record high on Monday after confirming takeover talks with a private equity firm. Dunkin' Brands said it was in preliminary discussions with Inspire Brands, which also owns Arby's and Jimmy John's Sandwiches. Inspire Brands declined to comment and Dunkin' said it was not certain a deal would be reached. Shares in Dunkin' soared 16pc to almost $103, valuing the company at $8.4bn. Dunkin' has 13,000 stores and a further 8,000
  
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• Former Facebook moderators sound alarm over treatment of workers ahead of US election

  26-10-2020 19:16 via uk.finance.yahoo.com
  
  Former Facebook moderators sound alarm over treatment of workers ahead of US election. Ex-moderators tell the Guardian Facebook underpays and mistreats contractors responsible for policing hate speech
  
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• EU's Vestager working on criteria to define market influence

  26-10-2020 19:13 via uk.finance.yahoo.com
  
  The EU plans to set out criteria specifying the kind of dominant companies that will face tougher rules, Europe's antitrust chief said on Monday, in a move that will likely affect Apple, Amazon, Facebook and Google.Competition Commissioner Margrethe Vestager, who is drafting rules known as the Digital Services Act which will spell out how data should be shared and how digital marketplaces should operate, said she was looking into a list of criteria to define market influence or weight.
  
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• Holiday shoppers are coming to town with health checklist, survey shows

  26-10-2020 19:10 via uk.finance.yahoo.com
  
  About 79% of respondents want to see masks being worn, 82% demand visible cleaning efforts, and 76% prioritize reduced occupancy in stores, according to the survey by Oracle Retail, a unit of software maker Oracle Corp ."Customers are eager to shop," said Mike Webster, senior vice president and general manager of Oracle Retail.
  
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• Calais is Brexit-ready, but many businesses are not - French customs

  26-10-2020 19:01 via uk.finance.yahoo.com
  
  Many European businesses have yet to anticipate the new red tape that will be compulsory to trade with Britain after Jan. 1, the head of French customs warned, as the risk of queues of European lorries being turned down at the French port of Calais looms.Whether London and Brussels reach a trade deal or not in the current phase of talks, in just over two months' time Britain will leave the transitional arrangement that allows it to trade freely with the European Union since it officially left th
  
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• Best Instagram Growth Services on The Market

  26-10-2020 19:00 via ibtimes.co.uk
  
  With a reach to over 1 billion active monthly users, having a solid Instagram presence is very important for any serious brand, business, or influencer. Perpetuating constant Instagram growth can be a challenging task, especially if you find yourself with a heavy workload.
  
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• Lisa Brankin promoted to run Ford UK

  26-10-2020 18:51 via uk.finance.yahoo.com
  
  Ford has appointed Lisa Brankin as managing director of its UK and Ireland business, making her one of the most powerful women in the British car industry. The former sales director will be tasked with helping steer the business through the turmoil of Brexit, with imported vehicles facing a 10pc tariff if no EU trade deal is struck. Ford has design and engineering bases in the UK, as well as engine production, but does not build cars here. She takes over Andy Barratt, who announced on social med
  
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• Sunak clashes with Williamson over blame for food voucher row

  26-10-2020 18:50
  Chancellor denies blocking extension of free school meals as Johnson hints at replacement scheme
  
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• Working from home ‘damaging Britain's creative potential and economic wellbeing’

  26-10-2020 18:46 via uk.finance.yahoo.com
  
  Working from home ‘damaging Britain's creative potential and economic wellbeing’. Bank of England’s chief economist says lockdown arrangements benefited some, but not all workers
  
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• Working from home 'damaging Britain's creative potential and economic wellbeing'

  26-10-2020 18:46 via uk.finance.yahoo.com
  
  Working from home 'damaging Britain's creative potential and economic wellbeing'. Bank of England’s chief economist says lockdown arrangements benefited some, but not all workers
  
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• Sunak and Williamson in row over food vouchers blame

  26-10-2020 18:43
  Chancellor angrily denies claims that Treasury blocked extension of free school meals
  
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• Covid job losses hitting young people hardest in UK, study finds

  26-10-2020 18:39 via uk.finance.yahoo.com
  
  Covid job losses hitting young people hardest in UK, study finds. Workers aged under 25 more than twice as likely to have lost job in past two months
  
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• The Hut Group sales jump 39% as shoppers increase online spending during pandemic

  26-10-2020 18:31 via uk.finance.yahoo.com
  
  Company, which owns a collection of beauty brands and licences its technology platform to other firms, reports sales of £378.1m
  
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• Stuttgart prosecutors drop investigation into ex-Volkswagen boss Winterkorn

  26-10-2020 18:31 via uk.finance.yahoo.com
  
  Prosecutors in the German city of Stuttgart have dropped a market manipulation investigation into former Volkswagenchief executive Martin Winterkorn, deferring to a criminal case against him in the city of Braunschweig.Prosecutors in Stuttgart had looked at whether Winterkorn had manipulated markets by delaying the disclosure of VW’s emissions scandal in 2015.VW in September that year admitted using engine control software to cheat U.S. diesel emission tests, battering its share price.
  
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• Forget gold! I think the best UK shares to buy now will help me retire early

  26-10-2020 18:27 via uk.finance.yahoo.com
  
  Gold might seem a safe haven in troubled times, but Tom Rodgers thinks tech will be a better investment. These are his best shares to buy now.
  The post Forget gold! I think the best UK shares to buy now will help me retire early appeared first on The Motley Fool UK.
  
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• William Hill advisers in line for £165m jackpot

  26-10-2020 18:23 via uk.finance.yahoo.com
  
  Investment bankers, lawyers and accountants are in line for more than £165m of fees if William Hill investors vote through a takeover swoop by US casino titan Caesars Entertainments next month. New documents reveal the deal will trigger major payouts for firms including Deutsche Bank, Barclays and Citigroup if it goes ahead. William Hill is handing its advisers £41m, while Caesars will cough up as much as £124m. Meanwhile, the British bookkeeper's boss Ulrik Bengtsson and its f
  
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• EU close to decision on UK request to review O2-Virgin deal, says Vestager

  26-10-2020 18:21 via uk.finance.yahoo.com
  
  The EU is close to deciding whether Britain should be allowed to assume responsibility for ruling on the proposed merger of Liberty Global'sVirgin Media and Telefonica'sO2, Europe's antitrust chief said on Monday.The companies last month sought European Competition Commissioner Margrethe Vestager's approval for their $38 billion deal to better compete with market leader BT , prompting a request from Britain's Competition and Markets Authority to take over the case on the grounds that the tie-up
  
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• Apple launching new, smaller AirPods and AirPods Pro, report claims

  26-10-2020 18:18 via uk.finance.yahoo.com
  
  Apple is preparing to update both the AirPods and the AirPods Pro, according to a new report that suggests they are part of a wide range of new audio products being planned by Apple.Both versions of the wireless earphones will get smaller, according to the new report from Bloomberg.While the AirPods will lose some of the stems that come down from the ear, making them look more like the AirPods Pro, the AirPods Pro could lose their stalks almost entirely to make them more like earbuds, the report
  
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• FTSE 100 slides as poor Wall Street opening drags London markets lower

  26-10-2020 18:17 via uk.finance.yahoo.com
  
  London’s top flight closed 68.27 points lower at 5,792.01 at the end of trading on Monday.
  
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• NHS Covid app sends concerning ‘possible exposure’ notification to users - what you need to know

  26-10-2020 18:15 via uk.finance.yahoo.com
  
  The notification only means that the system is looking at a possible exposure, not that the system has definitely been triggered.The app's official Twitter account confirmed that users will be sent a specific notification if they are judged to be at high enough risk to need to self-isolate, and that message will be separate from the one indicating that they have been subject to a possible exposure.Many users of the app – which was released last week – have reported receiving concerni
  
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• This FTSE small-cap is a great growth stock I’d seriously consider

  26-10-2020 18:06 via uk.finance.yahoo.com
  
  Jabran Khan explains why this FTSE small-cap stock is high on his list of growth stocks and why he's thinking it could be a great addition to his portfolio.
  The post This FTSE small-cap is a great growth stock I’d seriously consider appeared first on The Motley Fool UK.
  
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• Jack Ma's Ant set for world's biggest share offering at £26bn

  26-10-2020 18:06 via uk.finance.yahoo.com
  
  Jack Ma's Ant set for world's biggest share offering at £26bn. Financial technology firm will list on Shanghai and Hong Kong stock markets in snub to US
  
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• Debenhams bidders face two-day deadline

  26-10-2020 18:03 via uk.finance.yahoo.com
  
  Debenhams advisers are weighing up alternative options for the business. Earlier this year Debenhams fell into administration for the second time in the space of a year.
  
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