Business news

• US central banker misses policy meeting for new baby

  05-11-2020 23:42 via uk.finance.yahoo.com
  
  When the Federal Reserve held its policy meeting this week, one member was missing for the happiest of reasons: a new baby.
  
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• Uber sees 'fundamental shift' in food delivery demand

  05-11-2020 23:38 via bbc.co.uk
  
  The firm's Uber Eats business has more than doubled as the pandemic increases appetite for takeaway.
  
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• Market rally cools with all eyes on US election result

  05-11-2020 23:32 via uk.finance.yahoo.com
  
  Markets await US election result FTSE 100 set to fall slightly at open German industrial production rises for fifth month Bank of England fires £150bn bullet at Covid-19 second wav Ryan Bourne: Economic Trumpism looks here to stay on Capitol Hill Sign up here for our daily business briefing newsletter
  
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• Black Friday: deal or no deal?

  05-11-2020 23:31 via uk.finance.yahoo.com
  
  Are Black Friday deals really worth the hype? Or could you score an even better deal on a different day? We take a look at these and other questions.
  The post Black Friday: deal or no deal? appeared first on The Motley Fool UK.
  
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• ESPN to cut jobs as pandemic hits sports broadcaster

  05-11-2020 23:19 via uk.finance.yahoo.com
  
  ESPN said Thursday it was cutting some 300 jobs in response to turmoil in the sports world as a result of the coronavirus pandemic.
  
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• Uber reports $1.1 bn loss on revenue plunge

  05-11-2020 23:04 via uk.finance.yahoo.com
  
  Uber on Thursday reported that it lost $1.1 billion in the recently ended quarter as the pandemic walloped its ride-hailing business, while boosting its food delivery service.
  
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• Former BHS owner found guilty of tax evasion as he ‘funded yacht, Bentley and luxury holiday’

  05-11-2020 22:53 via uk.finance.yahoo.com
  
  Dominic Chappell ‘did not want to pay VAT’, court hears
  
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• Covid: Was it right to extend the furlough scheme?

  05-11-2020 22:39 via bbc.co.uk
  
  Critics say extending the scheme to protect jobs will only delay the inevitable
  
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• Uber still sees profit by end 2021 but misses Wall Street quarterly revenue target

  05-11-2020 22:09 via uk.finance.yahoo.com
  
  Uber recorded an adjusted loss in earnings before interest, taxes, depreciation and amortization of $625 million (£476 million) in the third quarter, falling short of expectations by analysts expectations who on average had expected a $597 million EBITDA loss, according to IBES data from Refinitiv.The company said that cost reductions and margin improvements at its Eats delivery business combined with a return of growth underscored its confidence to achieve quarterly adjusted EBITDA profit
  
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• Uber sees slowest recovery of ride business in home U.S. market, deliveries more than double

  05-11-2020 22:09 via uk.finance.yahoo.com
  
  Uber's rides business recovered at the slowest rate in the United States, its most important market, which continued to lag other regions.The company's shares fell 2% in after-hours trading as Uber recorded greater adjusted losses before interest, taxes, depreciation and amortization in the third quarter than Wall Street expected.Uber posted an adjusted EBITDA loss of $625 million (£475 million) versus analyst expectations of a $597 million EBITDA loss, according to IBES data from Refiniti
  
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• T-Mobile beats postpaid phone subscriber estimates

  05-11-2020 22:07 via uk.finance.yahoo.com
  
  Carriers such as T-Mobile, AT&T Incand Verizon Communications Inchave benefited as many Americans continue to work from home during the virus outbreak, boosting demand for its phone, TV and internet services.T-Mobile added 689,000 postpaid subscribers in the quarter ended Sept. 30, above FactSet estimates of 422,000.
  
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• T-Mobile beats phone subscriber estimates, shares rise 7%

  05-11-2020 22:07 via uk.finance.yahoo.com
  
  Shares of T-Mobile rose 7.75%% to $126.35 in after-hours trading.T-Mobile's 5G network quality is expected to surpass larger rival Verizon Communications Inc, and it continues to have the lowest prices in the industry, said Craig Moffett, an analyst with research firm MoffettNathanson, in a note on Thursday.T-Mobile added a net 689,000 so-called postpaid phone customers during the quarter ended Sept. 30, above analyst estimates of 422,000, according to research firm FactSet.
  
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• T-Mobile beats phone subscriber estimates, shares rise 5%

  05-11-2020 22:07 via uk.finance.yahoo.com
  
  Shares of T-Mobile rose 4.9% to $123.10 in after-hours trading.U.S. wireless carriers such as T-Mobile, AT&T Incand Verizon Communications Inchave benefited as many Americans continue to work from home during the virus outbreak, boosting demand for its phone, TV and internet services.T-Mobile added a net 689,000 phone customers who pay a recurring monthly bill during the quarter ended Sept. 30, above analyst estimates of 422,000, according to research firm FactSet.
  
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• Markets report: QE and furlough extensions lift FTSE

  05-11-2020 22:05 via uk.finance.yahoo.com
  
  Monetary stimulus to cushion Britain’s economy boosted London stocks yesterday, while traders kept an eagle eye on Joe Biden edging closer to victory. The Bank of England raised its quantitative easing target by £150bn to £895bn, beating expectations, to help the Government fund public spending in a second lockdown. In some upward pressure, the pound rose 0.9pc. The domestically focused FTSE 250 gained 0.7pc as Chancellor Rishi Sunak extended the furlough scheme. Traders remain
  
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• Facebook removes pro-Trump 'Stop the Steal' election group

  05-11-2020 22:03 via uk.finance.yahoo.com
  
  Facebook on Thursday shut down a pro-Trump group organizing protests against vote-counting, saying it was being used to delegitimize the election process and included "worrying" calls for violence.
  
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• Fed's Powell 'reluctant' to discuss elections

  05-11-2020 22:02 via uk.finance.yahoo.com
  
  The contentious US election still has no clear victor, but Federal Reserve Chair Jerome Powell on Thursday steered clear of commenting on politics, staying focused on the economy instead.
  
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• Furlough scheme extension ‘came too late for some in the culture sector’

  05-11-2020 21:45 via uk.finance.yahoo.com
  
  The scheme has been extended until the end of March.
  
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• What Joe Biden’s tax policies mean for most Americans

  05-11-2020 21:34 via uk.finance.yahoo.com
  
  Trump and his party heavily invoked Mr Biden’s supposed high-tax policies in hopes of scaring voters away from him
  
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• Quebec City sword attack suspect appears in court, victims identified

  05-11-2020 21:33 via uk.finance.yahoo.com
  
  A 24-year-old man accused of killing two people with a sword and injuring five others on Halloween night in Quebec City made a brief court appearance Thursday while four of the injured, including two French nationals, were named.
  
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• Questor: yes, divis were decimated by coronavirus but there are signs of a recovery

  05-11-2020 21:12 via uk.finance.yahoo.com
  
  Dividends were devastated in the first lockdown and its aftermath. What are the prospects now? One stockbroker has combed through every company of any size on the stock market to assess its chances of paying a divi. Peel Hunt categorised listed firms into those extremely likely, before June next year, to make payments, those likely to make payments, and those unlikely and extremely unlikely. It said the extremely likely category contained 158 stocks, whose expected dividends totalled £20.7
  
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• Sorry Sainsbury's but the pandemic also created a financial windfall

  05-11-2020 21:04 via uk.finance.yahoo.com
  
  Sorry Sainsbury's but the pandemic also created a financial windfall. Supermarkets should never have been included in rates relief – they stayed open, and enjoyed a boom
  
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• Facebook shuts down huge pro-Trump 'Stop the Steal' group over calls for violence

  05-11-2020 20:44 via uk.finance.yahoo.com
  
  Facebook has removed a rapidly growing group claiming the US election is being stolen from Donald Trump, amid growing fears that it could lead to real world violence. The “Stop the Steal” group had reached more than 350,000 members just a day after being set up before it was deleted by Facebook on Thursday evening. It had become a hub for conspiracy theories about the vote and calls for people to protest, in some cases in ways that could lead to violence. False claims surrounding ele
  
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• RSA in talks with Intact and Tryg over £7bn takeover deal

  05-11-2020 20:31 via uk.finance.yahoo.com
  
  RSA in talks with Intact and Tryg over £7bn takeover dealBuyout could lead to break-up of one of FTSE 100’s oldest companies
  
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• UK statistics watchdog warns over government use of Covid data

  05-11-2020 20:27
  PM insists government has tried to make information on pandemic ‘as clear as possible’
  
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• Covid: Rishi Sunak to extend furlough scheme to end of March

  05-11-2020 20:20 via bbc.co.uk
  
  The move follows days of wrangling over the scope and duration of the wage scheme.
  
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• Apollo switches interest in William Hill

  05-11-2020 20:12 via uk.finance.yahoo.com
  
  One of the two bidders for William Hill is poised to switch its focus to the bookmaker’s European operations and drop out of the running to take over the entire company. Wall Street buyout firm Apollo Global Management is now focusing on a bid for William Hill’s non-US operations, insiders said. Las Vegas casino operator Caesars Entertainment agreed a 272p-a-share offer with William Hill’s board in September. The £2.9bn deal came alongside a rival approach from Apollo, sp
  
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• Former BHS owner jailed for six years for tax evasion

  05-11-2020 20:10 via bbc.co.uk
  
  A court heard Dominic Chappell spent the money that was owed on two yachts and a luxury holiday.
  
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• FCA bans three sex offenders from ever working in financial services

  05-11-2020 20:09 via uk.finance.yahoo.com
  
  The financial regulator has banned three convicted sex offenders from working in the City, including a celebrity wealth manager who once partnered with Wolverhampton Wanderers. In what is believed to be the first time it has exercised its powers in cases of this kind, the Financial Conduct Authority (FCA) barred Frank Cochran, Russell David Jameson and Mark Horsey after they failed its “fit and proper” test for regulated professionals. The three were convicted in 2018 of unrelated se
  
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• Don't become a pilot as there are no jobs just huge debts, says union

  05-11-2020 20:09 via uk.finance.yahoo.com
  
  Don't become a pilot as there are no jobs just huge debts, says union. Balpa points to Europe’s 10,000 unemployed commercial pilots as it issues warning
  
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• Sunak extends UK furlough scheme to end of March

  05-11-2020 20:05
  Chancellor in new U-turn on support for workers and businesses while BoE launches £150bn stimulus
  
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• US seizes $1 bn in bitcoin connected to Silk Road

  05-11-2020 19:56 via uk.finance.yahoo.com
  
  The US has seized more than $1 billion worth of bitcoin connected to the Silk Road criminal syndicate, the Justice Department announced Thursday.
  
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• Fortnite to return to Apple devices via Nvidia cloud gaming service - BBC

  05-11-2020 19:54 via uk.finance.yahoo.com
  
  Nvidia Corp has developed a version of its GeForce cloud gaming service that runs in the mobile web browser Safari, the report said.Apple did not immediately respond to a Reuters request for comment, while Epic declined to comment.Nvidia said it would not comment on any new clients coming to the service, or on the availability of any game on unannounced or unreleased platforms.
  
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• Fortnite set to return to Apple devices via Nvidia cloud gaming service - BBC

  05-11-2020 19:54 via uk.finance.yahoo.com
  
  Chipmaker Nvidia Corp has developed a version of its GeForce cloud gaming service that runs in the mobile web browser Safari, the report said.Nvidia said it would not comment on any new clients coming to the service, or on the availability of any game on unannounced or unreleased platforms.Nvidia is expected to announce updates to its GeForce Now service later this month.
  
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• Rail tunnel to Northern Ireland under consideration

  05-11-2020 19:53 via uk.finance.yahoo.com
  
  Boris Johnson has given his blessing to a review exploring a multi billion-pound rail tunnel between Scotland and Northern Ireland. Sir Peter Hendy, chairman of Network Rail, has asked experts to conduct a review of a potential tunnel between Stranraer and Larne. Doug Oakervee, the author of a Government-commissioned report that gave HS2 the green light earlier this year, will lead the analysis. Sir Peter said: “If you look at the distance between Northern Ireland and Scotland it is actual
  
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• L'Oreal turns to Google as coronavirus spurs virtual make-up shift

  05-11-2020 19:52 via uk.finance.yahoo.com
  
  Shoppers searching Google for cosmetics will be able to try them on virtually through a deal with L'Oreal, as the French group looks to make up for lost store sales caused by coronavirus lockdowns by expanding online.Maybelline maker L'Oreal, which returned to comparable sales growth in the third quarter when coronavirus restrictions eased, has sped up some of its web initiatives as a result of the pandemic, its digital chief Lubomira Rochet said."There's been an acceleration in all our partners
  
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• Mini boom for retail in England as shoppers dash to beat lockdown

  05-11-2020 19:48 via uk.finance.yahoo.com
  
  Mini boom for retail in England as shoppers dash to beat lockdown. Eat and spend spree pushes footfall above 2019 levels for first time in pandemic
  
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• Euronext considers changes after customer anger over outage

  05-11-2020 19:46 via uk.finance.yahoo.com
  
  Pan-European exchange Euronext said on Thursday it was listening to calls from top banks and asset managers about finding a way to trade on alternative platforms when there are lengthy outages like last month.A series of glitches disrupted trading on Euronext on Oct. 19, raising concerns about the risk of one operator hosting so many bourses, just as the Paris-headquartered exchange is set to buy Borsa Italiana for 4.3 billion euros (3.8 billion pounds)."We are listening to all suggestions of al
  
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• Bitcoin: $1bn seized from Silk Road account by US government

  05-11-2020 19:36 via bbc.co.uk
  
  The US Department of Justice confirms it has seized about 70,000 bitcoins.
  
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• BoE and Sunak join forces to support UK’s Covid economy

  05-11-2020 19:35
  Complementary extensions of QE and furlough scheme aim to help prevent unemployment
  
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• Carlos Ghosn's accused escape plotters face skeptical U.S. judge in extradition fight

  05-11-2020 19:29 via uk.finance.yahoo.com
  
  A federal judge in Boston said on Thursday she would likely reject a last-ditch effort by two men to avoid being extradited to Japan to face charges that they helped former Nissan Motor Co Ltd Chairman Carlos Ghosn flee the country.U.S. District Judge Indira Talwani said she was leaning toward concluding that the U.S. State Department needed to take an additional step before allowing U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, to be handed over to Japan.
  
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• Bentley to stop selling non-electric cars by 2026

  05-11-2020 19:24 via uk.finance.yahoo.com
  
  The Crewe-based luxury car manufacturer declared it is 'on a mission'.
  
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• Dominic Chappell convicted of tax evasion

  05-11-2020 19:19
  Businessman who bought BHS for £1 in 2015 sentenced to six years in jail
  
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• Shell to begin shutting down its Convent, Louisiana, refinery in November - company

  05-11-2020 19:18 via uk.finance.yahoo.com
  
  “After looking at all aspects of our business, including financial performance, we made the difficult decision to shut down the site,” Shell spokesman Curtis Smith said in a statement."The decision is part of the company’s global strategy to invest in a core set of uniquely integrated manufacturing sites that are also strategically positioned for the transition to a low-carbon future," Smith continued.
  
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• Shell Convent, LA, refinery will close amid to pandemic

  05-11-2020 19:18 via uk.finance.yahoo.com
  
  The shutdown, to occur this month, comes after Shell failed to find a buyer.Shell said it failed to find a buyer for the 211,000-barrel-per-day refinery after announcing plans to sell it in July.Refining margins have been down substantially since the pandemic started.
  
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• Shell closing Convent, Louisiana, refinery as pandemic takes toll

  05-11-2020 19:18 via uk.finance.yahoo.com
  
  The shutdown will occur this month after Shell failed to find a buyer.Shell said it failed to find a buyer for the 211,000-barrel-per-day refinery after announcing plans to sell it in July.“After looking at all aspects of our business, including financial performance, we made the difficult decision to shut down the site,” Shell spokesman Curtis Smith said in an emailedstatement.
  
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• Work when you want wherever you want, Standard Chartered tells 75,000 staff

  05-11-2020 19:16 via uk.finance.yahoo.com
  
  Standard Chartered has told its 75,000 staff they can work when they want and wherever they want, becoming the latest financial institution to make drastic permanent changes to office life. As well as offering employees the option to select the hours, days and location they want, the London-listed banking giant told its workforce on Thursday that it was in talks with a third party to provide extra "near-home" work spaces. The new rules could prompt its big bank rivals to follow suit. There were
  
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• BHS buyer Dominic Chappell given six years for tax evasion

  05-11-2020 19:12 via uk.finance.yahoo.com
  
  BHS buyer Dominic Chappell given six years for tax evasion. Ex-bankrupt who bought chain store from Philip Green for £1 guilty of £600,000 evasion
  
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• The Ripped Gym in Harlow owner arrested after staying open in lockdown

  05-11-2020 19:07 via bbc.co.uk
  
  Police say they attended the gym having been "made aware of social media posts".
  
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• UK lawmakers invited to review TikTok's algorithm

  05-11-2020 19:06 via uk.finance.yahoo.com
  
  TikTok has invited British lawmakers to review the company's algorithm after a parliamentary committee probed whether the app censored content or shared data with the Chinese Communist Party. Elizabeth Kanter, company's UK director of government relations and public policy, told members of the Business Select Committee they could visit its “transparency centre”, see how it moderates content and review its algorithm. The invitation followed a series of questions about whether TikTok's
  
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• Ex-BHS owner Dominic Chappell jailed over almost £600,000 in unpaid taxes

  05-11-2020 19:02 via uk.finance.yahoo.com
  
  The businessman spent a fortune on a luxury lifestyle that included a yacht, Bentley Continental car and a Bahamas holiday.
  
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