Business news

• Nasa reveals that there is water on the moon in breakthrough that could lead to deep-space travel

  29-10-2020 23:45 via uk.finance.yahoo.com
  
  Water could be used for humans who travel to the Moon and create permanent lunar base there, as Nasa hopes to
  
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• Walmart pulls guns from sales floors, citing civil unrest

  29-10-2020 23:28 via uk.finance.yahoo.com
  
  Walmart plans to remove guns and ammunition from its sales floors in the US following unrest in Philadelphia this week, a spokeswoman said Thursday.
  
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• Amazon third-quarter earnings soar as pandemic sales triple profits

  29-10-2020 23:16 via uk.finance.yahoo.com
  
  Amazon third-quarter earnings soar as pandemic sales triple profits
  
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• Big tech firms add $163bn to market values despite Covid and legal scrutiny

  29-10-2020 23:15 via uk.finance.yahoo.com
  
  Big tech firms add $163bn to market values despite Covid and legal scrutinyGoogle, Facebook and Amazon rally in third-quarter earnings reports
  
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• For Amazon, Apple, Facebook and Google business is booming

  29-10-2020 23:00 via bbc.co.uk
  
  Latest sales and profit figures from America's big tech companies exceed Wall Street expectations.
  
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• Big Tech delivers strong profits amid pandemic, political scutiny

  29-10-2020 23:00 via uk.finance.yahoo.com
  
  Big Tech powerhouses Thursday delivered robust earnings reports for the latest quarter, leveraging the needs of pandemic-hit consumers amid heightened scrutiny of their economic power.
  
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• United Airlines to trial airport Covid testing

  29-10-2020 22:53 via bbc.co.uk
  
  The airline's boss Scott Kirby tells the BBC passenger testing is "key to reopening the world economy".
  
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• Facebook quarterly profit jumps despite ad boycott

  29-10-2020 22:48 via uk.finance.yahoo.com
  
  Facebook's profit jumped in the recently-ended quarter as the leading social network benefitted from a rebounding online ad market despite a boycott, the company reported Thursday.
  
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• Kuwait says supports any OPEC+ supply decision as 2021 curbs loom

  29-10-2020 22:46 via uk.finance.yahoo.com
  
  Kuwait said on Thursday it would support any decision made by OPEC and its allies on future oil supply policy after OPEC and industry sources told Reuters some producers would prefer to pump more from January rather than extend output curbs.De-facto OPEC leader Saudi Arabia and non-OPEC Russia are in favour of extending existing oil production cuts of around 7.7 million barrels per day (bpd) into next year.Extending existing curbs would mark a change from the existing pact between the Organizati
  
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• Oil prices slide on demand worries as US stocks rebound from rout

  29-10-2020 22:42 via uk.finance.yahoo.com
  
  Oil prices dropped Thursday on demand fears as more nations go into lockdown to staunch the spread of the coronavirus, while global stocks mostly rose after the prior session's routs.
  
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• Apple iPhone sales tumble, trimming profit

  29-10-2020 22:41 via uk.finance.yahoo.com
  
  Apple shares were sent reeling Thursday on word of a steep drop in sales of iPhones, which are at the heart of the tech titan's money-making engine.
  
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• Amazon reveals 200pc increase in profit as shoppers move online in crisis

  29-10-2020 22:34 via uk.finance.yahoo.com
  
  Amazon has revealed a 200pc leap in profits as several Silicon Valley titans posted increases in sales, in a sign that the economic havoc caused by the pandemic has done little to slow their rise. Jeff Bezos’ online shopping giant said sales had climbed by 37pc in the third quarter of the year to $96.1bn (£74.3bn) with consumers continuing to rely on online shopping despite high street shops opening up in the summer months. Profits rose from $2.1bn to $6.3bn, despite Amazon saying it
  
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• Google bounces back from search advertising slump with sales jump

  29-10-2020 22:33 via uk.finance.yahoo.com
  
  Google parent Alphabet has bounced back from a sharp advertising decline earlier this year, beating Wall street estimates to bank $11.2bn (£8.6bn) in profit for the third quarter of 2020. Shares rose by more than 8pc in after hours trading - adding $4.8bn and $4.6bn to the respective paper wealth of founders Larry Page and Sergey Brin - as third-quarter profits beat Wall Street estimates, rising by 59pc to $11.2bn. Alphabet, which makes most of its money from advertising, saw revenue decli
  
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• Monte dei Paschi ups provisions after former executives' conviction

  29-10-2020 22:28 via uk.finance.yahoo.com
  
  Italy's bailed-out lender Monte dei Paschi(MPS) on Thursday decided to raise provisions against legal risks following the conviction of three former executives, in the latest blow to its fragile finances.Italy in August earmarked up to 1.5 billion euros ($1.8 bln) to help the bank, of which it owns 68%.The Treasury had hoped to use the funds to ease a merger, but now a direct capital injection is also a possibility, two sources close to the matter said.
  
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• Amazon quarterly profit triples to $6.3 bn on retail, cloud

  29-10-2020 22:26 via uk.finance.yahoo.com
  
  Amazon's third-quarter profits tripled from a year ago on strong retail sales during the pandemic and growth in cloud computing, the company announced Thursday
  
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• Facebook shrugs off advertising boycott to post fastest growth since before coronavirus

  29-10-2020 22:20 via uk.finance.yahoo.com
  
  Facebook has shrugged off the impact of this summer's massive advertising boycott, posting its highest year on year revenue growth and its biggest profit since before the pandemic. The social media giant, which also owns Instagram and WhatsApp, brought in about $21.5bn (£16.6bn), an increase of 22pc from the same time last in 2019, and made $7.8bn in profit, up 29pc year on year. Monthly active users for the core Facebook social network rose by 1.4pc since June to 2.7bn, or 2.6bn when adju
  
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• Rushed discussion before Huawei CFO's detention missed potential violations, border official says

  29-10-2020 22:02 via uk.finance.yahoo.com
  
  The impending arrival of Huawei Chief Financial Officer Meng Wanzhou at a Canadian airport two years ago meant discussions about the best way to apprehend her, including potential civil rights violations, had to be cut short, a border officer told a court on Thursday.Scott Kirkland, an officer with the Canada Border Services Agency (CBSA), had told the British Columbia Supreme Court on Wednesday he was worried about allegations of potential civil rights violations being made if the agency interc
  
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• Judge sides with Huawei CFO on some claims but does not dismiss U.S. extradition case

  29-10-2020 22:02 via uk.finance.yahoo.com
  
  A judge has blocked an attempt by Canada's attorney general to get parts of Huawei Chief Financial Officer Meng Wanzhou's arguments dismissed in the case to extradite her to the United States, according to a ruling released on Thursday.The ruling comes as a week-long witness testimony is underway in the British Columbia Supreme Court, in a different part of the same extradition case.Meng's assertion that the United States misrepresented evidence of alleged fraud in its formal request to Canada f
  
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• Canada judge sides with Huawei CFO on some claims but does not dismiss U.S. extradition case

  29-10-2020 22:02 via uk.finance.yahoo.com
  
  A judge has blocked an attempt by Canada's attorney general to get parts of Huawei Chief Financial Officer Meng Wanzhou's arguments dismissed in the case to extradite her to the United States, according to a ruling released on Thursday.The ruling comes as a week-long witness testimony is underway in the British Columbia Supreme Court, in a different part of the same extradition case.Meng's assertion that the United States misrepresented evidence of alleged fraud in its formal request to Canada f
  
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• Twitter shares sink as user growth slows

  29-10-2020 21:50 via uk.finance.yahoo.com
  
  Twitter shares tumbled Thursday after the messaging platform's quarterly update showed a slowdown in user growth.
  
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• Weak iPhone sales pull down Apple shares

  29-10-2020 21:35 via uk.finance.yahoo.com
  
  Despite those delays, Apple has mostly beaten sales expectations this year and released a slew of new products and services that its customers have embraced while largely homebound during the pandemic.Apple said revenue and profits for the fiscal fourth quarter ended on Sept. 26 was $64.7 billion and 73 cents per share, compared with analyst estimates of $63.7 billion and 70 cents per share, according to IBES data from Refinitiv.Analysts anticipated consumers would hold off on iPhone purchases a
  
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• Apple's late iPhone launch temporarily wiped $100 billion off its stock value

  29-10-2020 21:35 via uk.finance.yahoo.com
  
  Apple fell over 5% at one point in after-hours trade, wiping $100 billion from its stock market value.Since 2013, Apple has delivered new iPhones each September like clockwork.Apple has mostly beaten sales expectations this year and released a slew of new products and services that its customers have embraced while largely homebound during the pandemic.
  
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• Apple stock pulled down by weak iPhone sales, China

  29-10-2020 21:35 via uk.finance.yahoo.com
  
  Despite those delays, Apple has mostly beaten sales expectations this year and released a slew of new products and services that its customers have embraced while largely homebound during the pandemic.Apple said revenue and profits for the fiscal fourth quarter ended on Sept. 26 was $64.7 billion and 73 cents per share, compared with analyst estimates of $63.7 billion and 70 cents per share, according to IBES data from Refinitiv.Analysts anticipated consumers would hold off on iPhone purchases a
  
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• Apple sales beat driven by Macs and Watches, CEO 'optimistic' about 5G iPhone sales

  29-10-2020 21:35 via uk.finance.yahoo.com
  
  Despite delays with its best-selling iPhones, the Cupertino, California-based company has consistently beaten sales expectations this year and released a slew of new products and services that its customers have embraced while largely homebound during the pandemic.Apple said revenue and profits for the fiscal fourth quarter ended on Sept. 26 was $64.7 billion and 73 cents per share, compared with analyst estimates of $63.7 billion and 70 cents per share, according to IBES data from Refinitiv.Sal
  
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• Starbucks sees hotter-than-expected earnings for 2021

  29-10-2020 21:33 via uk.finance.yahoo.com
  
  The coffee chain was forced to close many stores and limit operations to takeout and delivery at the height of the COVID-19 pandemic, but sales have since improved as consumers used the company's app to order and collect at stores.For the fourth quarter, comparable sales fell 9%, against Wall Street estimates of a 12.1% decline, as consumers gradually returned to their morning routines or shifted habits to other times of day.Starbucks shares fell more than 1% in after-hours trading.
  
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• Starbucks sees better-than-expected earnings for 2021

  29-10-2020 21:33 via uk.finance.yahoo.com
  
  The coffee chain was forced to close many stores and limit operations to take-away and delivery at the height of the COVID-19 pandemic, but sales have since improved as consumers used the company's app to order and collect at stores.For the fourth quarter, comparable sales fell 9%, compared with Wall Street estimates of a 12.13% decline, as consumers picked up their morning coffee at cafes as they gradually returned to their daily routines.Chief Executive Officer Kevin Johnson said Starbucks' re
  
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• Activision raises sales forecast on lockdown demand, new COD release hopes

  29-10-2020 21:29 via uk.finance.yahoo.com
  
  "Call of Duty: Black Ops Cold War" is set to release on Nov. 13, following the launch of Sony Corp'sPlayStation 5 and Microsoft'sXbox Series X. The launch of new consoles has traditionally boosted videogame sales.The company also topped third-quarter adjusted sales estimates on strong sales of "Call of Duty: Modern Warfare" and forecast holiday-quarter adjusted revenue of $2.73 billion, above Wall Street estimates of $2.63 billion.
  
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• Activision forecasts profit below estimates as competition heats up

  29-10-2020 21:29 via uk.finance.yahoo.com
  
  Activision forecast adjusted earnings of 63 cents per share for the fourth-quarter, compared with analysts' estimate of $1.08.The company also raised its annual adjusted sales forecast, betting on strong sales for its upcoming videogame in the blockbuster "Call of Duty" franchise.
  
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• Markets report: Divi talk fails to lift Standard Chartered

  29-10-2020 21:25 via uk.finance.yahoo.com
  
  A disappointing set of third-quarter results sent Standard Chartered shares down for a fourth day. It drew a downbeat reception from markets despite beating expectations on profit and dangling the prospect of a resumed dividend. The emerging markets-focused lender posted an underlying profit before tax of $745m (£576m) for the third quarter – down 40pc year-on-year, but higher than predicted. However, analysts flagged a miss of profit with expected credit losses taken into account, a
  
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• Facebook warns of tough 2021 as pandemic boosts ad revenue

  29-10-2020 21:18 via uk.finance.yahoo.com
  
  The social media company said in its outlook that it faced "a significant amount of uncertainty," citing impending privacy changes by Appleand a possible reversal in the shift to online commerce prompted by the pandemic."Considering that online commerce is our largest ad vertical, a change in this trend could serve as a headwind to our 2021 ad revenue growth," it said."It appears that investors are disappointed that despite user growth jumping across most regions during the quarter, the social m
  
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• Facebook anticipates tougher 2021 even as pandemic boosts ad revenue

  29-10-2020 21:18 via uk.finance.yahoo.com
  
  "Considering that online commerce is our largest ad vertical, a change in this trend could serve as a headwind to our 2021 ad revenue growth," it said.Shares of the company were flat in extended trading.Facebook's financial results and those of Googleand Amazondemonstrate how resilient tech giants have been even as the pandemic devastated other parts of the economy.
  
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• Twitter misses user growth expectations, shares drop 9%

  29-10-2020 21:14 via uk.finance.yahoo.com
  
  Shares of Twitter declined to $46.95 in after-market trading.The San Francisco-based social media company said it had 187 million monetizable daily active users (mDAU) during the third quarter, missing consensus analyst expectations of 195.2 million users, according to IBES data from Refinitiv.Costs and expenses grew 13% from the same period last year to $880 million, as the company said it spent more on infrastructure-related expenses.
  
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• Netflix shares rise as it lifts prices on US subscriptions

  29-10-2020 21:13 via uk.finance.yahoo.com
  
  Shares of Netflix jumped Thursday after the streaming service raised prices in the US for two of its subscription offerings.
  
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• Amazon third-quarter net sales beat estimates as more people shop online

  29-10-2020 21:11 via uk.finance.yahoo.com
  
  Amazon's cloud services also saw strong demand as companies switched to virtual offices to curb the spread of the pandemic.Revenue from Amazon Web Services (AWS) surged 29% to $11.60 billion.E-commerce firms and companies with strong online presence have seen business boom, as the COVID-19 pandemic has led to less shopping at brick-and-mortar stores, with more people using their mobile phones and computers to shop.
  
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• Amazon sees pandemic boosting holiday sales and investment in delivery

  29-10-2020 21:11 via uk.finance.yahoo.com
  
  A company executive added that heightened spending on delivery infrastructure would likely continue over years, and shares fell 2% in after-hours trading.Since the start of the virus outbreak in the United States eight months ago, consumers have turned increasingly to Amazon for delivery of groceries, home goods and medical supplies.Brick-and-mortar shops closed their doors; Amazon by contrast moved to recruit over 400,000 workers and earned $6.3 billion in the just-ended quarter, its second con
  
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• Amazon forecasts jump in holiday sales - and pandemic costs

  29-10-2020 21:11 via uk.finance.yahoo.com
  
  Since the start of the virus outbreak in the United States eight months ago, consumers have turned increasingly to Amazon for delivery of groceries, home goods and medical supplies.Brick-and-mortar shops closed their doors; Amazon by contrast moved to recruit over 400,000 more workers and earned $6.3 billion in the just-ended third quarter, the most in its 26-year history.Democratic politicians this month accused Amazon of holding "monopoly power" over merchants on its platform, which the compan
  
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• Alphabet sales growth back as Google key for advertisers

  29-10-2020 21:07 via uk.finance.yahoo.com
  
  Alphabet shares rose 4.4% after ending regular trading at $1,556.88.Wall Street had expected a rebound from Alphabet because the company said in July that advertiser spending was inching back following a March plummet due to lockdowns.Google competitors Snap Inc and Microsoft Corp also reported third quarter revenue ahead of expectations in recent days.
  
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• Alphabet sales growth back as Google flooded with advertisers

  29-10-2020 21:07 via uk.finance.yahoo.com
  
  Google parent Alphabet Inc on Thursday returned to sales growth in the third quarter, beating analysts' estimates, as businesses initially hobbled by the coronavirus pandemic resumed advertising with the internet's biggest supplier of ads.Alphabet shares rose 7% after ending regular trading at $1,556.88, up 13% on the year.Wall Street had expected a rebound from Alphabet because the company said in July that advertiser spending was inching back following a March plummet due to lockdowns.
  
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• E-cigarette maker Juul cuts valuation to $10 billion - memo

  29-10-2020 20:39 via uk.finance.yahoo.com
  
  Juul was valued at $38 billion in December 2018, when Marlboro maker Altria Group Inctook a 35% stake in the company.The company's new valuation was influenced by recent decisions to exit certain markets and related restructuring costs, according to the memo sent to Juul employees by chief executive officer K.C. Crosthwaite."Today's valuation does not surprise me, and I expect other investors to also arrive at lower valuation marks that factor in our recent restructuring," he said.
  
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• Ubisoft cuts full-year guidance as COVID-19 delays two games

  29-10-2020 20:37 via uk.finance.yahoo.com
  
  The production challenges were related to work from home, Ubisoft said in a statement.The maker of gaming franchise Assassin's Creed expects net bookings of 2.20 billion to 2.35 billion euros ($2.78 billion) and an operating income in the 420 million to 520 million euros range for its 2020-2021 fiscal year.It previously expected net bookings of 2.35 billion to 2.65 billion euros and an operating income in the 400 million to 600 million euro range.
  
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• Google plans to launch VPN service for consumers

  29-10-2020 20:21 via uk.finance.yahoo.com
  
  Designed for secure internet usage, virtual private networks (VPNs) are used by individuals in countries where access to certain sites and services have been barred by governments.Google said the VPN service will roll out in the U.S. in the coming weeks through the Google One app for Android users, with plans to expand to more countries and to iOS, Windows and Mac operating systems in the coming months.
  
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• EU set to deny gas power plants a green investment label - draft

  29-10-2020 19:55 via uk.finance.yahoo.com
  
  Power plants fuelled by natural gas will not be classed as a sustainable investment in Europe, unless they meet an emissions limit that none currently comply with, according to draft European Union regulations seen by Reuters.The landmark EU rules, due to be finalised this year, will force providers of financial products to disclose from the end of 2021 which investments meet climate criteria, and can therefore be marketed as "sustainable".The aim is to steer billions of euros in much-needed pri
  
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• Fishermen warn Covid second wave could put them out of business without public support

  29-10-2020 19:50 via uk.finance.yahoo.com
  
  Campaign launched to ‘spread Christmas cheer, give fish this year’, as restaurant orders dry up
  
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• IMF urges UK to keep spending to tackle pandemic crisis

  29-10-2020 19:43
  Output now expected to shrink by 10.4% in 2020 and recover only partially next year
  
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• Tech earnings tsunami buoys Alphabet, sinks Apple

  29-10-2020 19:42 via uk.finance.yahoo.com
  
  Share swings following the reports from the tech heavyweights after the bell sent exchange-traded funds tracking the S&P 500and Nasdaqdown about 1% each, suggesting Wall Street may open weaker on Friday.Mostly upbeat results from Facebook , Google-parent Alphabet and Amazon, along with Microsoft'sstrong report earlier this week, show how the largest U.S. companies have expanded their businesses and outperformed smaller rivals this year as the pandemic accelerates trends toward online shoppin
  
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• Dutch lawmaker - next step on Unilever 'exit tax' idea in December

  29-10-2020 19:40 via uk.finance.yahoo.com
  
  The Dutch opposition lawmaker who proposed an "exit tax" on Anglo-Dutch consumer goods giant Unilever PLCto prevent it from unifying its dual headquarters in London said on Thursday he will continue working on the idea into December -- after the company's unification is complete.It was not clear whether other political parties will ultimately support the plan put forward by Green Left MP Bart Snels, which could theoretically lead to a 11 billion euro ($13 billion) tax on Unilever.While lawmakers
  
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• U.S. judge delays extradition of Carlos Ghosn's accused escape plotters to Japan

  29-10-2020 19:33 via uk.finance.yahoo.com
  
  A federal judge on Thursday granted a last-minute request to stop the U.S. government from turning over to Japan two men accused of helping smuggle former Nissan Motor CoChairman Carlos Ghosn out of the country while he was awaiting trial on financial crimes.U.S. District Judge Indira Talwani in Boston granted a request by lawyers for U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, to delay the transfer shortly before the two men were set to be placed on a flight to Ja
  
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• In the year of the plague, the road back to recovery is looking bumpy

  29-10-2020 19:30 via uk.finance.yahoo.com
  
  In the year of the plague, the road back to recovery is looking bumpyUS GDP figures mask several difficulties – and the outlook for the eurozone looks bleak
  
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• Job Support Scheme: How do new post-furlough changes work?

  29-10-2020 19:26 via bbc.co.uk
  
  The government has expanded its Job Support Scheme, which replaces furlough from November.
  
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• Activists urge 'Big Pharma' to be transparent on COVID-19 vaccine costs

  29-10-2020 19:25 via uk.finance.yahoo.com
  
  Activists called on pharmaceutical companies on Thursday to be transparent about the costs and terms of providing COVID-19 vaccines, saying they must be available and affordable for all.French drugmaker Sanofiand Britain's GlaxoSmithKlinesaid on Wednesday they would supply 200 million doses of their COVID-19 candidate vaccine to the global COVAX vaccine facility backed by the World Health Organization (WHO) and the GAVI vaccine alliance.Medecins Sans Frontieres (Doctors Without Borders) demanded
  
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