Business news

• Chip wars: The US v China

  30-10-2020 23:35 via bbc.co.uk
  
  Chips that power nearly all electronic devices are at the heart of the battle for global dominance.
  
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• Sunak under pressure to mend UK welfare system as furlough ends

  30-10-2020 23:30
  Some 6m households likely to have to rely on benefits as jobs crisis is set to worsen
  
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• New Job Support Scheme set to replace furlough programme

  30-10-2020 23:30 via uk.finance.yahoo.com
  
  Combined with the Job Retention Bonus, the new Job Support Scheme will continue to support millions of workers across the country until April 2021.
  
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• Judge blocks Donald Trump's order on US Tiktok ban

  30-10-2020 23:30 via uk.finance.yahoo.com
  
  A US judge has blocked Donald Trump’s TikTok ban two weeks before it was set to go into force, in a new blow for the president’s bid to crack down on the Chinese-owned app. A court suspended the effects of a presidential order that would have effectively stopped TikTok from functioning in the US on November 12, saying the national security justifications for the ban were “hypothetical”. Mr Trump has promised to crack down on TikTok, which is owned by the Beijing-based tec
  
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• Coronavirus: Is virtual reality tourism about to take off?

  30-10-2020 23:20 via bbc.co.uk
  
  Tourism boards, hotels and destinations are turning to virtual reality to woo potential visitors.
  
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• 'Millions face hardship' as government support ends

  30-10-2020 23:04 via bbc.co.uk
  
  Renters and the self employed could be among those facing tough times this winter, charities warn.
  
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• US stocks finish worst week, month since March amid virus fears

  30-10-2020 23:00 via uk.finance.yahoo.com
  
  Wall Street suffered its worst week and month since March on Friday with another losing session as markets gird for the US elections amid worries over rising coronavirus cases.
  
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• Wall Street Week Ahead: Big tech stocks may face post-election headwinds, no matter who wins

  30-10-2020 22:19 via uk.finance.yahoo.com
  
  Some investors are betting the technology and communications stocks that drove a massive rebound in U.S. markets this year will face a tougher slog in coming months, no matter whether Republican President Donald Trump or Democratic challenger Joe Biden wins Tuesday's election.Betting against big technology has been a risky proposition over the last decade, as stocks like Amazon, Google and Netflix have shot higher at the expense of so-called value and cyclical stocks such as banks and energy com
  
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• Nigeria reaches out to U.S., South Korea to back WTO candidate

  30-10-2020 22:03 via uk.finance.yahoo.com
  
  Nigeria is reaching out to the United States and South Korea to persuade them to back its pick to head the World Trade Organization, the trade ministry said on Friday, after the candidate's last-minute rejection threw the selection process into confusion.The United States on Wednesday voiced its opposition to former Nigerian Finance Minister Ngozi Okonjo-Iweala.The move came hours after a high-powered WTO panel had recommended her to lead the global trade watchdog, teeing her up to become its fi
  
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• Empty high streets reach beyond retail for survival

  30-10-2020 22:00
  Offices and residential look to fill the gaps as stores beat retreat
  
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• Canada border officer 'red-faced' over giving police passcodes to Huawei CFO's phones

  30-10-2020 21:39 via uk.finance.yahoo.com
  
  The Canadian border official who questioned Huawei Chief Financial Officer Meng Wanzhou before police arrested her two years ago told a court on Friday he was "red-faced" when he realized he mistakenly gave her phones' passcodes to the police.Scott Kirkland, an officer with Canada Border Services Agency (CBSA), was asked by defense attorney Mona Duckett why the Royal Canadian Mounted Police (RCMP) had passcodes and identifying details about Meng's two mobile phones and computer that Kirkland had
  
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• Canada border agent says he received unusual FBI phone call in Huawei CFO U.S. extradition case

  30-10-2020 21:39 via uk.finance.yahoo.com
  
  A Canadian border official testified on Friday he received an "out of the ordinary" request from the FBI for the phone number of the supervisor on duty the next day when Huawei Chief Financial Officer Meng Wanzhou was to arrive in Canada.Bryce McRae, a superintendent with the Canada Border Services Agency (CBSA), testified in British Columbia Supreme Court that the FBI did not in fact call agents at Vancouver International Airport the following day.
  
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• US sets requirements for 'phased resumption' of cruises

  30-10-2020 21:33 via uk.finance.yahoo.com
  
  The US health authorities on Friday issued a detailed set of requirements that would allow cruise ships to resume services as early as next month.
  
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• U.S. fights delay in extraditing Carlos Ghosn's accused escape plotters to Japan

  30-10-2020 21:12 via uk.finance.yahoo.com
  
  The U.S. Justice Department on Friday urged a federal judge to swiftly reject a last-minute bid by two Massachusetts men to avoid being extradited to Japan to face charges that they helped former Nissan Motor Co LtdChairman Carlos Ghosn flee the country.The department in a court filing said Japanese agents are slated to come to the United States in the "coming days" to transport U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, back to Japan.The U.S. State Department inf
  
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• Paying dividends: the FTSE stocks most likely to pay out in 2021

  30-10-2020 21:08 via uk.finance.yahoo.com
  
  AROUND three quarters of FTSE100 companies are likely to be paying regular dividends by the middle of next year, according to an upbeat City forecast released today.Standouts in the FTSE250 include car insurers Sabre (with 5.0% due in May), and financial planners Brewin Dolphin (4.9% in Feb).
  
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• Nestle buys U.S. meal delivery group Freshly

  30-10-2020 21:07 via uk.finance.yahoo.com
  
  Food group Nestleon Friday said it had bought U.S. meal delivery company Freshly in a deal valuing it at $950 million, with further potential payments or "earnouts" of up to $550 million.The purchase marks another deal for Nestle boss Mark Schneider, who has bought and sold around 50 businesses since taking over in 2017.Under Schneider, the world's largest packaged food group has been moving into faster-growing areas like premium coffee and pet food and away from slower categories like mass mark
  
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• Italy's Monte dei Paschi weighs capital boost options - sources

  30-10-2020 21:01 via uk.finance.yahoo.com
  
  State-owned Italian bank Monte dei Paschi (MPS)is weighing options to boost its capital to withstand higher provisions against legal risks and the cost of a bad loan clean-up, three sources close to the matter said.Loss-making and burdened by 10 billion euros in legal claims, MPS has failed to lure buyers given Rome's reluctance to shield them from legal risks despite the Treasury pushing for a re-privatisation.In a bid to ease that process, MPS is due to complete an 8.1 billion euro ($9.5 billi
  
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• BA boss hits out at Heathrow plan to increase charges

  30-10-2020 21:00
  Sean Doyle says regulator should block airport’s proposal to recoup pandemic losses
  
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• New Boeing jet unlikely but depends on MAX return - Safran CEO

  30-10-2020 20:58 via uk.finance.yahoo.com
  
  Boeingis unlikely to launch a new plane in the near future but its options will depend in part on how successfully its grounded 737 MAX regains its position in the market, the head of one of its engine suppliers said on Friday.The MAX is expected to win safety approval within weeks following a 19-month grounding in the wake of two crashes, SafranChief Executive Philippe Petitcolin said."We are doing everything with Boeing to put the MAX back in service in the best possible conditions," he told r
  
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• Judge sets November deadline for Google's initial response to U.S. antitrust case

  30-10-2020 20:57 via uk.finance.yahoo.com
  
  Alphabet's Googlemust tell a district court how it will respond to a federal antitrust lawsuit by mid-November, with the two sides making initial disclosures later in the month, U.S. Judge Amit Mehta said in a brief order Friday.The U.S. Justice Department sued Google on Oct. 20, accusing the $1 trillion company of illegally using its market muscle to hobble rivals in the biggest challenge to the power and influence of Big Tech in decades.The federal government alleges that Google acted unlawful
  
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• In reversal, Walmart will keep guns in shopping areas

  30-10-2020 20:36 via uk.finance.yahoo.com
  
  Walmart reversed course Friday and said it would keep guns in shopping areas, quickly shifting away from a plan to keep firearms away from customers.
  
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• Markets report: Boardroom strife takes shine off results for miner Petropavlovsk

  30-10-2020 20:07 via uk.finance.yahoo.com
  
  Troubled gold miner Petropavlovsk dropped after saying it remains mired in legal and management battles following a shareholder coup in August that ousted its chief executive and several directors. The FTSE 250 gold miner told the London Stock Exchange that its new interim chief executive, Maksim Meshcheryakov, continues to battle a “lack of co-operation” from a “very small number of senior employers and officers of the company’s subsidiaries”, who appeared to have
  
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• Czech billionaire gambles on Sir Keith Mills to win National Lottery licence jackpot

  30-10-2020 20:04 via uk.finance.yahoo.com
  
  Czech billionaire Karel Komarek has hired one of Lord Sebastian Coe’s Olympic lieutenants to spearhead his bid to run the National Lottery. Sir Keith Mills, former deputy chairman in the London Olympics organising committee, is to be bid chairman for Sazka, Mr Komarek’s operator that runs lotteries in Greece, Italy and the Czech Republic. Prior to the Olympics, Sir Keith founded Air Miles and Nectar customer loyalty programmes. The Gambling Commission this week issued official tender
  
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• The $1m-plus club: Christine Holgate and NBN executives among government workers paid more than PM

  30-10-2020 20:00 via uk.finance.yahoo.com
  
  The $1m-plus club: Christine Holgate and NBN executives among government workers paid more than PMAt least 115 federal public sector workers earn more than Morrison, with the NBN chief on a package worth more than $3.1m a year
  
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• Exxon Mobil, Chevron again report losses on low oil prices

  30-10-2020 19:43 via uk.finance.yahoo.com
  
  US oil giants ExxonMobil and Chevron reported another quarter of red ink Friday as uncertainty over oil demand dented by the coronavirus forced the petroleum sector to rein in spending.
  
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• Exclusive: Italian payments firm Nexi leads race for $10 billion Nets takeover - sources

  30-10-2020 19:39 via uk.finance.yahoo.com
  
  Italian payments technology firm Nexi is leading negotiations to buy Nordic rival Nets in an all-stock deal worth about $10 billion (7.67 billion pounds) after trumping competition from U.S. firm Global Payments, four sources told Reuters.The deal would transform Nexi, which has a market value of 8.4 billion euros ($9.93 billion), into a European payments powerhouse, allowing it to build a footprint in key regions such as the Nordics and Central and Eastern Europe.U.S. private equity firm Hellma
  
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• European stock markets suffer worst week since June

  30-10-2020 19:04 via uk.finance.yahoo.com
  
  European stock markets suffer worst week since JuneWall Street also tumbles as global markets fear economic fallout from new Covid-19 restrictions
  
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• European stock markets endure worst week since June

  30-10-2020 19:04 via uk.finance.yahoo.com
  
  European stock markets endure worst week since JuneWall Street also tumbles as global markets fear economic fallout from new Covid-19 restrictions
  
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• 'Eat out to help out' may have caused fifth of Covid clusters over summer

  30-10-2020 19:03 via uk.finance.yahoo.com
  
  'Eat out to help out' may have caused fifth of Covid clusters over summerTreasury rejects researcher’s claim that its scheme was closely linked to rise in cases* Coronavirus – latest updates* See all our coronavirus coverage
  
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• Why is the Lloyds share price falling yet again? Here’s why I would buy today…

  30-10-2020 18:58 via uk.finance.yahoo.com
  
  With the Lloyds share price more than halving over the past 12 months, it's no wonder investors are running scared. But I see deep value in buying today.
  The post Why is the Lloyds share price falling yet again? Here’s why I would buy today… appeared first on The Motley Fool UK.
  
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• Exxon Mobil, Chevron again report lossses on low oil prices

  30-10-2020 18:50 via uk.finance.yahoo.com
  
  US oil giants ExxonMobil and Chevron reported another quarter of red ink Friday as uncertainty over oil demand dented by the coronavirus forced the petroleum sector to rein in spending.
  
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• London markets in the red as record Eurozone growth fails to woo traders

  30-10-2020 18:46 via uk.finance.yahoo.com
  
  The FTSE 100 closed 4.48 points lower at 5,577.27 at the end of trading on Friday.
  
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• Sindika Dokolo, husband of Angola's Isabel dos Santos, dies

  30-10-2020 18:45 via uk.finance.yahoo.com
  
  Sindika Dokolo, the husband of Isabel dos Santos, billionaire daughter of Angola's former president, has died, his family announced Friday.
  
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• SpaceX and Nasa halt astronaut launch after red paint gets into rocket engines

  30-10-2020 18:36 via uk.finance.yahoo.com
  
  SpaceX and Nasa have been forced to delay a pioneering rocket launch after red lacquer dripped into a rocket engine.The rockets had been scheduled to carry astronauts to the International Space Station on a Halloween launch.The bright red coating is put onto the rockets to protect their parts during cleaner.
  
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• Did Oxford Biomedica just find a new treatment for Parkinson’s disease?

  30-10-2020 18:35 via uk.finance.yahoo.com
  
  Zaven Boyrazian takes another look at Oxford Biomedica after promising results on its Parkinson’s disease treatment were announced.The post Did Oxford Biomedica just find a new treatment for Parkinson’s disease? appeared first on The Motley Fool UK.
  
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• ExxonMobil warns of $30bn writedown of shale assets amid energy price slump

  30-10-2020 18:24 via uk.finance.yahoo.com
  
  ExxonMobil warns of $30bn writedown of shale assets amid energy price slump. Announcement follows record quarterly loss of $680m, its third quarterly deficit in a row
  
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• Ashworth urges PM not to ‘dither’ with Coronavirus action

  30-10-2020 18:22 via uk.finance.yahoo.com
  
  Jon Ashworth has urged the Prime Minister not to “dither and delay” with Coronavirus action. The Shadow Health Secretary added that any action will be welcomed by the Labour Party as the virus is “out of control”. .
  
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• UK nightclub owner Deltic Group up for sale as bankruptcy looms

  30-10-2020 18:20 via uk.finance.yahoo.com
  
  UK nightclub owner Deltic Group up for sale as bankruptcy loomsLack of government help since Covid hit has ‘slowly choked us to death’, says boss Peter Marks
  
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• Why I’m thinking of AstraZeneca as a great long-term buy

  30-10-2020 18:07 via uk.finance.yahoo.com
  
  Motley Fool contributor Jay Yao writes why he's looking at FTSE 100 component AstraZeneca as a great long-term investment.
  The post Why I’m thinking of AstraZeneca as a great long-term buy appeared first on The Motley Fool UK.
  
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• Stocks retreat as virus worries outweigh data

  30-10-2020 18:06 via uk.finance.yahoo.com
  
  Stocks in Europe and the US pulled back on Friday despite news of rebounding economic growth and robust tech earnings.
  
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• Profits at India's Reliance slump 15% as pandemic hits demand

  30-10-2020 18:01 via uk.finance.yahoo.com
  
  Indian conglomerate Reliance Industries on Friday reported a 15 percent fall in its quarterly profits, as the coronavirus pandemic slowed demand, hitting its crucial oil refinery business.
  
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• Will house prices crash when furlough ends?

  30-10-2020 18:00 via uk.finance.yahoo.com
  
  Looming job losses expected to drive house prices down, but just how much remains unclear
  
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• FTSE 100 suffers worst week since mid-June as £72bn wiped off index

  30-10-2020 17:59 via uk.finance.yahoo.com
  
  The index fell by 283.01 points over the week, a drop of 4.8%.
  
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• £72bn wiped off FTSE this week in worst month since March

  30-10-2020 17:56 via uk.finance.yahoo.com
  
  London’s top listed companies marked their worst month since March as virus fears and the looming US election sparked a week-long stock market sell-off. Despite closing almost flat after choppy trading on Friday, the FTSE 100 chalked up a monthly slide of 4.9pc – the sharpest fall since the record-breaking rout in March. The blue-chip index fell every day in its worst week since June, knocking £72bn off its total value. The falls coincided with third-quarter results for several
  
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• The week’s stock market news – Friday, 30th October

  30-10-2020 17:50 via uk.finance.yahoo.com
  
  FTSE 100 down nearly 5%, banks beating Q3 expectations, and oil profits way down on 2019. Those were among the stock market highlights this week.
  The post The week’s stock market news – Friday, 30th October appeared first on The Motley Fool UK.
  
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• Nasa discovers 'very weird' molecule that's never been seen before in atmosphere of Saturn's moon

  30-10-2020 17:39 via uk.finance.yahoo.com
  
  The molecule, cyclopropenylidene, has never been detected before in any other atmosphere
  
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• Disco inferno as biggest nightclub operator seeks buyer

  30-10-2020 17:27 via uk.finance.yahoo.com
  
  Britain’s largest nightclub operator has put itself up for sale as it battles for survival following seven months of closure. Deltic Group, which owns 52 nightclubs under the Oceana and Pryzm brands, has begun a sale process while it considers other restructuring options including a company voluntary arrangement. Peter Marks, chief executive, said that company would run out of cash by December without securing a rescue plan. “We have to look at every option going and part of that is
  
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• COVID-19: Three in 10 business leaders don't think 'firms will survive a year'

  30-10-2020 17:27 via uk.finance.yahoo.com
  
  Three in 10 business leaders claim they don't expect their company to survive the next 12 months.
  
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• Is the Shell dividend a sign of things to come?

  30-10-2020 17:26 via uk.finance.yahoo.com
  
  As Shell announces an increase in its dividend payout, Karl Loomes asks, will it be enough to help bolster the stock going forward?
  The post Is the Shell dividend a sign of things to come? appeared first on The Motley Fool UK.
  
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• Treasury rejects theory 'eat out to help out' contributed to Covid rise

  30-10-2020 17:03 via uk.finance.yahoo.com
  
  Treasury rejects theory 'eat out to help out' contributed to Covid riseAcademic paper finds links to government scheme and increase in cases over summer* Coronavirus – latest updates* See all our coronavirus coverage
  
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