Business news

• Analysis: Biden returns to battle another economic crisis, but it's no Great Recession

  07-11-2020 22:02 via uk.finance.yahoo.com
  
  Joe Biden is returning to the White House to lead the United States in the midst of an economic crisis after beating President Donald Trump in Tuesday's election, a turn of events likely to conjure an eerie sense of deja vu for the Democratic former vice president.Unlike in 2008, when the country elected Democrat Barack Obama and his running mate Biden as the global economy teetered from the sub-prime mortgage crisis and collapse of the Lehman Brothers investment bank, the worst of the current e
  
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• Biden's trade policy will take aim at China, embrace allies

  07-11-2020 21:14 via uk.finance.yahoo.com
  
  President-elect Joe Biden has pledged to work more closely with U.S. allies in confronting China on trade, and is seen as unlikely to roll back his predecessor's tariffs on imported steel, aluminum, Chinese and European goods any time soon."I've been told that if you close your eyes, you might not be able to tell the difference" between the Biden and Trump trade agendas, said Nasim Fussell, former Republican trade counsel at the U.S. Senate Finance Committee."Biden's not going to be quick to unr
  
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• Argentina agrees deal for 22 million doses of AstraZeneca-Oxford COVID-19 vaccine

  07-11-2020 20:34 via uk.finance.yahoo.com
  
  Argentina has struck a deal with drugmaker AstraZeneca Plcto receive around 22 million doses of its COVID-19 vaccine being developed with the University of Oxford, with the aim to start deliveries in the first half of next year.The drugmaker, one of a number developing vaccines worldwide to fight the novel coronavirus, said in a statement circulated by the government on Saturday that the delivery time-frame depended on ongoing trials being successful and obtaining necessary approvals by regulato
  
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• Volkswagen truck unit Traton, U.S. Navistar sign merger deal

  07-11-2020 20:25 via uk.finance.yahoo.com
  
  The deal will see Traton acquire all common shares in Navistar at $44.50 per share, excluding the 16.7% stake that it already holds, the statement said.At $44.50 per share, Traton would pay about $3.7 billion for the shares in Navistar it doesn't already own, valuing the U.S. business as a whole at around $4.4 billion.The merger would combine the MAN, Scania and Volkswagen trucks brands with Navistar to create a global manufacturer, at a time when the industry is seeking ways to share the costs
  
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• Volkswagen truck unit Traton finalises $3.7 billion Navistar acquisition deal

  07-11-2020 20:25 via uk.finance.yahoo.com
  
  Finalisation of the deal comes after Traton said on Oct. 16 it had agreed to raise its bid for Navistar to $44.50 per share, up from $43, as it closed in on an acquisition that would create a global manufacturer.The agreement which brings Navistar together with the MAN, Scania and Volkswagen trucks brands is in tune with trends in the truck industry which has been seeking ways to share the costs of developing low emissions technology.
  
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• OPEC would miss 'friend Trump', wary of strains under Biden, sources say

  07-11-2020 20:13 via uk.finance.yahoo.com
  
  Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as U.S. President, sources close to the organisation said, and would miss President Donald Trump who went from criticising the group to helping bring about a record oil output cut.Biden could modify U.S. diplomatic relations with three members of OPEC - de facto leader Saudi Arabia, and sanctioned countries Iran and Venezuela, as well as with key non-OPEC producer Russia.
  
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• Five questions for Joe Biden on the economy

  07-11-2020 20:04 via bbc.co.uk
  
  Coronavirus, climate, taxes, tech and trade - what will Joe Biden do?
  
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• Biden lost Florida but he helped raise the minimum wage there. Policy matters

  07-11-2020 20:00 via uk.finance.yahoo.com
  
  Biden lost Florida but he helped raise the minimum wage there. Policy mattersProgressive parties must keep pushing progressive policies – they can change lives
  
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• Couple without ‘credit history’ denied Covid test amid fears thousands could be in same position

  07-11-2020 19:35 via uk.finance.yahoo.com
  
  A couple refused an at-home Covid test because they didn’t have enough ‘credit history’  fear that thousands of others could be in the same position.Laura McCormack and her partner had three of the main symptoms of Coronavirus and tried to request a test online.Despite being on the electoral register and having a bank account, she was told they would have to go to a test site because their names and addresses could not be verified in anti-fraud checks using a database supp
  
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• Couple refused Covid-test because of lack of ‘credit history’ amid fear millions could be in same position

  07-11-2020 19:31 via uk.finance.yahoo.com
  
  A couple refused an at-home Covid test because they didn’t have enough ‘credit history’  fear that thousands of others could be in the same position.Laura McCormack and her partner had three of the main symptoms of Coronavirus and tried to request a test online.Despite being on the electoral register and having a bank account, she was told they would have to go to a test site because their names and addresses could not be verified in anti-fraud checks using a database supp
  
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• Factbox: What a Joe Biden win could mean for financial policy

  07-11-2020 19:20 via uk.finance.yahoo.com
  
  While Biden is unlikely to prioritize a financial industry crackdown, he is expected to take a stricter line than Trump and his former boss President Barack Obama.Biden has tapped former derivatives market regulator Gary Gensler, who has a reputation for being tough on Wall Street, to work on a transition plan for financial industry oversight.Biden has pledged in campaign materials to expand the rules to other sectors, including mortgage and insurance companies.
  
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• Goldman Sachs to move $60bn of assets to Germany before Brexit

  07-11-2020 19:08 via uk.finance.yahoo.com
  
  The company has previously warned that a “difficult Brexit” would affect its investment plans in the UK. Britain has less than two months to go before the Brexit transition period ends.
  
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• Factbox: How a Biden presidency would transform the U.S. energy landscape

  07-11-2020 19:01 via uk.finance.yahoo.com
  
  Biden has shown an interest in multilateral diplomacy similar to previous Democratic administrations.In Iran, that path could include a partnered approach between Washington and Europe, similar to a deal struck under Obama's administration.
  
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• Stock market rules to be overhauled to lure tech giants

  07-11-2020 19:00 via uk.finance.yahoo.com
  
  Rules governing stock market listings are set to be overhauled in an effort to help London compete with international rivals in the post-Brexit era. Rishi Sunak, the chancellor, is preparing to announce a review of the listings regime to try to encourage technology giants and other high-growth companies to float in London rather than New York and elsewhere, Sky News reported. Lord Hill, former British commissioner to the EU and a non-executive director of the Treasury, is in line to lead the rev
  
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• Rolling back Trump's rollbacks: Biden seen reversing climate deregulation

  07-11-2020 18:57 via uk.finance.yahoo.com
  
  Joe Biden could erase much of President Donald Trump’s four-year legacy of energy and climate deregulation with the stroke of his pen, according to regulatory experts, but replacing it with something new and durable may prove trickier.Trump’s rollbacks are on shaky ground because most were done not through Congressional lawmaking but via presidential executive orders that can be easily torn up by a new administration."Nothing Trump has sought to accomplish on climate change is secure
  
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• Joe Biden wins White House, ending Donald Trump presidency

  07-11-2020 18:56 via ibtimes.co.uk
  
  An insurmountable lead in Pennsylvania took Biden, 77, over the top in the state-by-state count that decides the presidency.
  
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• Brexit: UK and EU agree to intensify efforts for a deal amid 'significant differences'

  07-11-2020 18:28 via uk.finance.yahoo.com
  
  Johnson told von der Leyen that “significant differences” remained in the UK-EU negotiations, with the two sides continuing to disagree over fishing rights and a level playing field agreement.
  
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• The baby boomers still want to make America great again

  07-11-2020 18:00 via uk.finance.yahoo.com
  
  The baby boomers still want to make America great again. Trump may not have carried all before him, but in times of fear and inequality, his ideas still resonate – and not just in the US
  
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• Investors likely relieved about networks calling U.S. presidential election for Biden

  07-11-2020 17:57 via uk.finance.yahoo.com
  
  Markets will welcome the certainty after major networks declared Democrat Joe Biden winner of the U.S. presidential election on Saturday, offering some relief after days of the country getting conflicting reports about who might be in the White House next term.News outlets and polling outlets including the Associated Press, NBC and Edison Research, upon which Reuters relies, called the presidency for Biden, leaving little doubt that he had won enough votes in the Electoral College to win.
  
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• Investors celebrate Biden winning U.S. presidency

  07-11-2020 17:57 via uk.finance.yahoo.com
  
  Investors and financial executives took a big sigh of relief on Saturday after major networks declared Democrat Joe Biden winner of the U.S. presidential election, offering some certainty after days of conflicting reports about who might run the White House next term.Although current President Donald Trump said he would fight the results in court, Wall Streeters who offered comments felt there was little doubt Biden would ultimately succeed after election predictors including the Associated Pres
  
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• Half a million Sunny payday loan customers may receive no payouts

  07-11-2020 17:18 via uk.finance.yahoo.com
  
  KPMG, the company’s administrators, said it will reach out to the borrowers affected by email, and invite them to make a claim.
  
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• This labrador market won't be affected by the US election - or much else

  07-11-2020 17:16 via uk.finance.yahoo.com
  
  Political scientists, psephologists and historians will be sifting through the debris of the 2020 US presidential election in search of meaning for months and years to come. But there are two things that we can already say with a high degree of certainty: the pollsters had no idea what the outcome would be ahead of time and the markets didn’t care either way. It is for other pages in this paper to perform the full post-mortem on the latest abject failure of the polling fraternity. Perhaps
  
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• NMC Health administrators to sue EY for $4bn over audit work

  07-11-2020 17:11 via uk.finance.yahoo.com
  
  Administrators for NMC, which is embroiled in an alleged fraud scandal, claim that EY auditors were “negligent” when they signed off the group’s accounts during a supposed $4bn fraud.
  
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• The Cineworld share price is down 85% this year! Here’s why it’s my contrarian pick

  07-11-2020 16:47 via uk.finance.yahoo.com
  
  The Cineworld share price can start improving in the near future despite continued risks, making a fortune for investors.  
  The post The Cineworld share price is down 85% this year! Here’s why it’s my contrarian pick appeared first on The Motley Fool UK.
  
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• FC Barcelona crisis: Five players pegged for January exit

  07-11-2020 16:32 via ibtimes.co.uk
  
  The Catalan side plans to generate income to finance an overhaul of their lineup.
  
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• Stock market crash 2020: a once-in-a-lifetime chance to build a £1m Stocks and Shares ISA?

  07-11-2020 15:58 via uk.finance.yahoo.com
  
  The stock market crash could provide buying opportunities that help an investor to build a £1m Stocks and Shares ISA, in my opinion.
  The post Stock market crash 2020: a once-in-a-lifetime chance to build a £1m Stocks and Shares ISA? appeared first on The Motley Fool UK.
  
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• Volvo recalls 54,000 U.S. vehicles for air bag defect after one death

  07-11-2020 15:56 via uk.finance.yahoo.com
  
  Volvo Cars is recalling 54,000 U.S. vehicles for an air bag defect after one crash death tied to the issue, according to a filing with U.S. regulators.The unit of Geely Automotiveis recalling 2001-2003 model S80 and S60 vehicles sold or registered in high humidity U.S. states because the driver side frontal air bag inflator may rupture, sending metal fragments flying, when the air bag is deployed.According to the Volvo filing with the government, Volvo will replace the inflators with a modern pr
  
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• India's Future Retail challenges Amazon in court over Reliance deal

  07-11-2020 15:51 via uk.finance.yahoo.com
  
  Future Retailhas challenged its partner Amazon.com Inc in a New Delhi court to stop interfering in its $3.4 billion asset sale deal, the Indian company said in a statement on Saturday.Amazonis locked in a bitter legal dispute with Future Group, which in August sold its retail assets to Mukesh Ambani-led Reliance Industries Ltd .Amazon last month won an injunction to halt Future's deal with Reliance from a Singapore arbitrator both sides had agreed to use in case of disputes.
  
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• Worried about the State Pension? I’d use Warren Buffett’s tips to retire rich

  07-11-2020 15:49 via uk.finance.yahoo.com
  
  Following Warren Buffett’s advice could lead to improving retirement prospects in my view. It may soothe concerns about the State Pension.
  The post Worried about the State Pension? I’d use Warren Buffett’s tips to retire rich appeared first on The Motley Fool UK.
  
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• Brexit: 'Significant differences remain' over trade deal

  07-11-2020 15:30 via bbc.co.uk
  
  The PM and EU Commission president agree to "work hard" to reach a deal when talks resume on Monday.
  
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• Fashion brands Nike, Boohoo and H&M deny Uyghur forced labour allegations

  07-11-2020 15:23 via uk.finance.yahoo.com
  
  The brands and retailers expressed “shock” over allegations regarding the forced labour of Uyghur Muslims, as they were questioned by MPs at the BEIS select committee.
  
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• Significant differences still remain in EU-UK trade talks

  07-11-2020 15:17 via uk.finance.yahoo.com
  
  Significant differences remain in talks over a trade deal between Britain and the European Union, both sides said on Saturday, as they promised to step up efforts to find an agreement.After a call between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen, both said talks would continue in London next week but that the main sticking points remained."The prime minister set out that, while some progress had been made in recent discussions, significant diffe
  
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• Buffett's Berkshire suffers in pandemic even as Apple boosts profit

  07-11-2020 15:11 via uk.finance.yahoo.com
  
  While some Berkshire operating businesses have rebounded from their spring depths, low interest rates hurt profit from insurance businesses, and its Precision Castparts aircraft and industrial parts unit projected thousands of additional job losses.Berkshire also repurchased a record $9.3 billion of its underperforming stock in the third quarter, as Buffett remained unable to find the huge acquisitions he wants to spur growth.
  
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• Buffett's Berkshire hurt by pandemic even as Apple boosts profit

  07-11-2020 15:11 via uk.finance.yahoo.com
  
  The conglomerate disclosed it repurchased a record $9.3 billion of its underperforming stock in the quarter, and $16 billion so far this year, as Buffett remained unable to find huge acquisitions to spur growth.Berkshire also said that while some businesses are rebounding from the pandemic's depth, the pain persists at its Precision Castparts aircraft and industrial parts unit, which is expecting thousands of additional job losses.
  
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• Berkshire operating results fall even as Apple boosts profit

  07-11-2020 15:11 via uk.finance.yahoo.com
  
  Berkshire said operating profit fell 32% to $5.48 billion from $8.07 billion a year earlier.Net income rose 82% to $30.14 billion, or $18,994 per Class A share, from $16.52 billion, or $10,119 per share, a year earlier.Berkshire's share price is lagging the Standard & Poor's 500for a second straight year despite outperforming from July to September.
  
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• Italy greenlights €2.9bn aid package amid new lockdown restrictions

  07-11-2020 14:33 via uk.finance.yahoo.com
  
  Cabinet agreed the package, worth €2.9bn ($3.4bn, £2.6bn), late on Friday. It came as a response to Italy imposing new lockdown restrictions.
  
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• This FTSE 250 stock is flying high! Would I buy its shares?

  07-11-2020 14:30 via uk.finance.yahoo.com
  
  The Kainos Group (LON:KNOS) share price has been soaring in 2020. But is this FTSE 250 (INDEXFTSE:MCX) stock worth buying today?
  The post This FTSE 250 stock is flying high! Would I buy its shares? appeared first on The Motley Fool UK.
  
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• No savings at 50 and worried about retirement? Here’s how I’d make a growing passive income

  07-11-2020 14:11 via uk.finance.yahoo.com
  
  Investing money in cheap shares could lead to a large retirement portfolio. It may enable an investor to obtain a growing passive income in older age.
  The post No savings at 50 and worried about retirement? Here’s how I’d make a growing passive income appeared first on The Motley Fool UK.
  
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• Stock market crash: how I’d identify must-own UK shares to buy in an ISA to make me a million

  07-11-2020 13:48 via uk.finance.yahoo.com
  
  The stock market crash has produced buying opportunities among UK shares, in my opinion. Here’s how I’d aim to find them.
  The post Stock market crash: how I’d identify must-own UK shares to buy in an ISA to make me a million appeared first on The Motley Fool UK.
  
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• Almost one-fifth of SMEs believe they won't survive second UK lockdown

  07-11-2020 13:22 via uk.finance.yahoo.com
  
  Small business insurer Simply Business revealed in a survey that 17% of SMEs think they will be forced to close their doors for good.
  
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• With a yield of 7%, I’d buy in to the Standard Life share price

  07-11-2020 13:17 via uk.finance.yahoo.com
  
  With a dividend yield of 7%, Standard Life is one of the best income plays on the market, but can investors trust the payout?The post With a yield of 7%, I’d buy in to the Standard Life share price appeared first on The Motley Fool UK.
  
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• Top UK shares for an ISA! 2 dividend stocks I’d buy for a long economic downturn

  07-11-2020 13:11 via uk.finance.yahoo.com
  
  Investing in UK shares is still a great way to get rich, despite the economic downturn. Here are two top dividend stocks I'd buy in an ISA today.
  The post Top UK shares for an ISA! 2 dividend stocks I’d buy for a long economic downturn appeared first on The Motley Fool UK.
  
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• The Royal Mail share price is up 100%! Is there still time to buy?

  07-11-2020 13:00 via uk.finance.yahoo.com
  
  The Royal Mail share price has surged off the back of plans to improve its parcel trade, but is there still time to buy into its growth plans?The post The Royal Mail share price is up 100%! Is there still time to buy? appeared first on The Motley Fool UK.
  
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• How I’d invest £500 right now in UK shares

  07-11-2020 12:48 via uk.finance.yahoo.com
  
  Rupert Hargreaves explains how he would invest a small lump sum in UK shares to get the best returns for the least effort.The post How I’d invest £500 right now in UK shares appeared first on The Motley Fool UK.
  
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• Johnson and EU chief to speak as post-Brexit talks go to wire

  07-11-2020 12:47 via ibtimes.co.uk
  
  Prime Minister Boris Johnson and EU chief Ursula von der Leyen will speak on the state-of-play of the "EU-UK negotiations".
  
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• US Election: Atlanta Hawks star Trae Young treats poll workers

  07-11-2020 12:17 via ibtimes.co.uk
  
  Young treated poll workers to lunch in Georgia, one of the all-important swing states.
  
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• Deloitte in talks with bidders for British restructuring division

  07-11-2020 12:15 via uk.finance.yahoo.com
  
  Daniel Butters, who is in charge of the company’s British restructuring business, briefed staff this week that he had received the go-ahead to kick off talks with private equity buyers.
  
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• Airlines dealt another blow as UK bans entry to travellers from Denmark

  07-11-2020 12:11 via uk.finance.yahoo.com
  
  While airlines have moved quick to cancel any flights between the UK and Denmark, some flights are still in operation in order to repatriate British citizens and residents.
  
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• Italy approves 2.9 billion euros aid package after new virus curbs

  07-11-2020 12:09 via uk.finance.yahoo.com
  
  Italy has approved a new aid package to cushion the blow on the economy from restrictions it introduced this week in an effort to stem a resurgence of the COVID-19 pandemic.The measures agreed by cabinet late on Friday are worth 2.9 billion euros, a person with knowledge of the matter said.
  
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• Italy approves 2.9 billion euro aid package after new virus curbs

  07-11-2020 12:09 via uk.finance.yahoo.com
  
  Italy has approved a new aid package to cushion the blow on the economy from restrictions it introduced this week in an effort to stem a resurgence of the COVID-19 pandemic.The measures agreed by cabinet late on Friday are worth 2.9 billion euros, a person with knowledge of the matter said.
  
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