Business news

• Unemployment set to creep higher in newest data – latest updates

  09-11-2020 23:59 via uk.finance.yahoo.com
  
  Latest UK labour market data at 7am Unemployment expected to creep higher FTSE has best day since March as Pfizer vaccine sends markets soaring US markets just missed out on hitting record closing highs over Biden and vaccine hopes Russell Lynch: 10,000 fewer babies is a crying shame for UK growth Sign up here for our daily business briefing newsletter
  
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• Redundancies at record levels as unemployment hits four-year high – latest updates

  09-11-2020 23:59 via uk.finance.yahoo.com
  
  UK redundancies to September beat financial crisis record Unemployment rises to 4.8pc FTSE has best day since March as Pfizer vaccine sends markets soaring US markets just missed out on hitting record closing highs over Biden and vaccine hopes Russell Lynch: 10,000 fewer babies is a crying shame for UK growth Sign up here for our daily business briefing newsletter
  
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• Labour in call to bring forward £30bn investment to cut carbon and create jobs

  09-11-2020 23:30 via uk.finance.yahoo.com
  
  The party is urging a green recovery from the pandemic which it says could create 400,00 jobs across the UK.
  
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• Bayer makes 'substantial progress' in Roundup cancer lawsuits, mediator says

  09-11-2020 23:09 via uk.finance.yahoo.com
  
  The mediator Kenneth Feinberg spoke at a Zoom hearing in San Francisco federal court, where a judge still oversees nearly 2,000 unresolved cases over glyphosate-based Roundup, which Bayer acquired with its purchase of Monsanto."We're not there yet but we are certainly making substantial progress," said Feinberg, who oversaw compensation programs for victims of the Sept. 11 attacks and 2010 Gulf of Mexico oil spill.
  
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• Chip maker NVIDIA signs in-car entertainment system deal with Hyundai Motor

  09-11-2020 23:02 via uk.finance.yahoo.com
  
  NVIDIA said the luxury vehicle division of Hyundai, Genesis, already uses NVIDIA DRIVE for its GV80 and G80 models.NVIDIA declined to say how many vehicles NVIDIA DRIVE would be installed in, but said it is a large number and pointed to the fact that in 2019 Hyundai Motor Group shipped over 7 million vehicles.
  
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• McDonald's launching meatless 'McPlant' burger

  09-11-2020 22:57 via uk.finance.yahoo.com
  
  Fast food giant McDonald's on Monday announced it was launching a new plant-based burger named the "McPlant" to cater to the growing number of people who do not eat meat.
  
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• Markets report: Covid test hopes a tonic for Royal Mail

  09-11-2020 22:54 via uk.finance.yahoo.com
  
  Royal Mail shot to its highest price since February 2019 on Monday, on hopes it could win a £550m government contract against Amazon to deliver 215,000 Covid home-testing kits a day as part of the NHS Test and Trace. Britain’s postal service company rose 8.5p to 261.7p. Adding to optimism is an expected increase in online retail sales in the coming years, which will help to swell the UK addressable parcel market, according to a note by Citi. Total ecommerce penetration in the UK will
  
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• Questor: we’ve struck lucky with one builder so let’s put some money into another

  09-11-2020 22:39 via uk.finance.yahoo.com
  
  It was Napoleon who said he preferred lucky generals to able ones and this column can only accept gratefully the good fortune it had when it assessed Crest Nicholson, the housebuilder, on the very day that it released a promising trading update. The FTSE 250 firm noted how forward sales had continued to build and profits had exceeded expectations. As a result it declared its intention to return to the dividend list in 2021. While the timing may have been fortuitous, the statement did at least ba
  
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• Beyond Meat sales miss as panic-buying eases, shares slump 29%

  09-11-2020 22:35 via uk.finance.yahoo.com
  
  Shares slumped 29% in after market trading after closing down 4%, partly due to McDonald's Corp'sdecision earlier in the day to launch a new plant-based meat alternatives line called "McPlant."The higher costs in part led the El Segundo, California-based company to report a net loss of $19.3 million (£14.6 million), or 31 cents per share, compared with a profit of $4.1 million, or 6 cents per share, a year earlier.
  
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• Beyond Meat posts surprise loss as stockpiling eases, restaurant sales falter

  09-11-2020 22:35 via uk.finance.yahoo.com
  
  Several reports called the move by the world's biggest burger chain earlier in the day as the end to Beyond Meat's partnership with the company, but Chief Executive Officer Ethan Brown said that was "greatly exaggerated".Beyond Meat also said it had co-created the plant-based patty for McPlant after working to develop a so-called "PLT" burger, which was tested in Canada earlier this year.The company will also sell its Beyond Meatballs at 5,000 CVS pharmacy stores.
  
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• Novavax ends third quarter with $334.2 million cash ahead of U.S. trial of COVID-19 vaccine

  09-11-2020 22:23 via uk.finance.yahoo.com
  
  The vaccine developer expects that data from the trial could support U.S. authorization and approval for its experimental coronavirus vaccine, NVX-CoV2373.Meanwhile, Pfizer Inc , which is among a handful of companies testing their experimental coronavirus shots in late-stage studies, has said its experimental vaccine was more than 90% effective, citing early data.Maryland-based Novavax, which is testing the drug in a late-stage study in the UK, last month postponed the start of the U.S. trial by
  
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• In first for Fed, U.S. central bank says climate poses stability risks

  09-11-2020 22:03 via uk.finance.yahoo.com
  
  "Acute hazards, such as storms, floods, or wildfires, may cause investors to update their perceptions of the value of real or financial assets suddenly," Fed Governor Lael Brainard said in comments attached to the report, released Monday."Chronic hazards, such as slow increases in mean temperatures or sea levels, or a gradual change in investor sentiment about those risks, introduce the possibility of abrupt tipping points or significant swings in sentiment," Brainard said.Such abrupt price chan
  
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• Exclusive: NextEra Energy in $15 billion bid for Evergy - sources

  09-11-2020 21:39 via uk.finance.yahoo.com
  
  NextEra Energy Inc , the world's largest producer of wind and solar energy, has made a roughly $15 billion (£11 billion) all-stock acquisition offer for U.S. power utility Evergy Inc , people familiar with the matter said on Monday.Evergy turned down the offer in recent days and it is unclear whether NextEra will make a new approach, said the sources, who requested anonymity because the matter is confidential.One of the sources added that NextEra had no immediate plans for a new bid.
  
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• Coronavirus: One in five COVID-19 patients develop mental health problems, study suggests

  09-11-2020 21:39 via uk.finance.yahoo.com
  
  One in five COVID-19 patients develop mental health problems within three months, a study has suggested.
  
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• Hyundai looks ahead to new SUVs in 2021 - and urban air taxis by 2028

  09-11-2020 21:21 via uk.finance.yahoo.com
  
  "We are all-in on autonomous vehicles," as well as electric vehicles, said Jose Munoz, president and CEO and Hyundai Motor North America, at an Automotive Press Association teleconference.Early next year, the redesigned Tucson compact crossover goes into production at Hyundai's Montgomery, Alabama plant, which also will begin building the Santa Cruz in late spring as part of a $410 million expansion.Munoz said Hyundai will work with the new Biden administration to develop infrastructure to suppo
  
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• Oil traders unwind bearish bets as vaccine hopes fuel optimism

  09-11-2020 21:18 via uk.finance.yahoo.com
  
  Oil traders rushed to unwind a bevy of bearish bets after Pfizer announced promising results for its COVID-19 vaccine, shaking up energy markets that were primed for demand to sink into the winter on increased lockdowns and rising coronavirus infections.Money managers had also built up $426 million worth of short positions in gasoline, the biggest short position since December 2019.
  
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• How will Joe Biden change life for US businesses?

  09-11-2020 21:07 via uk.finance.yahoo.com
  
  President-elect Joe Biden, a champion of green energy and a higher minimum wage, could prove to be a game-changer for some US businesses.
  
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• Senior Tories attack Johnson’s post-Brexit legislation

  09-11-2020 21:03
  Prime minister also risks a major dispute with US president-elect over internal market bill
  
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• Senior Tories attack Johnson’s Brexit legislation

  09-11-2020 21:03
  Prime minister also risks major dispute with US president-elect by pushing ahead with internal market bill
  
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• Boris Johnson creates new office to boost foreign investment

  09-11-2020 21:03
  Economists fear overseas companies based in the UK may reduce investments after Brexit
  
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• Global markets: winners and losers as Covid vaccine hopes send shares surging

  09-11-2020 20:57 via uk.finance.yahoo.com
  
  Global markets: winners and losers as Covid vaccine hopes send shares surgingBut the news highlighted divergences in fortunes across sectors during the pandemic* Global stock markets surge after Pfizer Covid vaccine news* Nils Pratley: ‘A great day for humanity’ – and not bad for markets
  
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• How intra-African trade is progressing amid the pandemic

  09-11-2020 20:56 via bbc.co.uk
  
  Tariff negotiations are continuing but the pandemic has impacted progress of intra-African trade.
  
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• Sunak sets out ‘green’ post-Brexit financial services regime

  09-11-2020 20:48
  Chancellor promises equivalence to EU and EEA states as he vows as to keep UK open and attractive
  
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• Britain hardens climate disclosures for listed companies

  09-11-2020 20:45 via uk.finance.yahoo.com
  
  Companies listed on the London Stock Exchange will have to improve disclosures on the risks they are facing from climate change from January, Britain's financial watchdog said on Monday.Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said the new rules will require premium listed companies to make disclosures consistent with a global set of recommendations made by the Taskforce on Climate-related Financial Disclosures (TCFD).
  
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• Streetwear brand Supreme to be sold to Timberland owner VF for $2.1bn

  09-11-2020 20:41 via uk.finance.yahoo.com
  
  Streetwear brand Supreme to be sold to Timberland owner VF for $2.1bn
  
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• Covid vaccine is great for humanity – and not bad for the stock market either

  09-11-2020 20:35 via uk.finance.yahoo.com
  
  Covid vaccine is great for humanity – and not bad for the stock market either. We mustn’t get carried away but the strong reaction to the Pfizer-BioNTec trial results makes sense
  
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• 'A great day for humanity' – and not bad for the stock market either

  09-11-2020 20:35 via uk.finance.yahoo.com
  
  'A great day for humanity' – and not bad for the stock market either. We mustn’t get carried away but the strong market reaction to the Pfizer/BioNTec Covid vaccine trial results makes sense
  
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• ‘A great day for humanity’ – and not bad for the stock market either

  09-11-2020 20:35 via uk.finance.yahoo.com
  
  ‘A great day for humanity’ – and not bad for the stock market either. We mustn’t get carried away but the strong market reaction to the Pfizer-BioNTec Covid vaccine trial results makes sense
  
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• 12 best iPhone 12 and 12 Pro cases that protect your new device

  09-11-2020 20:00 via uk.finance.yahoo.com
  
  The latest Apple iPhones are available now, the iPhone 12 and iPhone 12 Pro.There are also two more models, the smaller iPhone 12 mini and bigger iPhone 12 Max.The main differences between the two phones are the number of cameras (three on the iPhone 12 Pro, two on the iPhone 12) the material on the edge of the phone (stainless steel on the iPhone 12 Pro, aluminium on the iPhone 12) and the price.
  
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• China should expect no reprieve from Trump measures under Biden -analysts

  09-11-2020 19:53 via uk.finance.yahoo.com
  
  When he enters the White House in January, Joe Biden will likely stick with the Trump administration's harsh policies toward Chinese tech giants like Huawei Technologies, bowing to anti-China sentiment among U.S. lawmakers from both parties.Analysts said Biden, a Democrat who last week defeated Republican President Donald Trump in a nail-biting race, would take a more measured approach to Chinese tech threats but was unlikely to unwind Trump's measures even as he enlists allies to try to force C
  
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• With Biden, Europe hopes for friendlier trade

  09-11-2020 19:45 via uk.finance.yahoo.com
  
  The final votes have yet to be tallied in the United States but European exporters are already excited about the prospect that Joe Biden may put an end to a trade war and lift US tariffs on their products.
  
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• Turkish lira surges after Erdogan's son-in-law quits

  09-11-2020 19:43 via uk.finance.yahoo.com
  
  Turkey's lira surged to its biggest gain in two years Monday after President Recep Tayyip Erdogan's powerful son-in-law quit as finance minister following the abrupt appointment of a new central bank chief.
  
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• Would you eat it? Meet the London student entrepreneur who creates edible protein from chicken feathers

  09-11-2020 19:41 via uk.finance.yahoo.com
  
  Among ingenious projects featured today at a global technology show was a protein dish created from waste chicken feathers by a  London student.The Global Grad Show, usually held in Dubai, features graduate student projects with the potential to make a positive impact on society.This year 24 entries from British and Irish student teams went on show at the virtually-convened event, including four from graduates at London universities.
  
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• McDonald’s to launch plant-based McPlant menu items

  09-11-2020 19:39 via uk.finance.yahoo.com
  
  McDonald's has announced it will soon be offering a new plant-based protein called McPlant.According to Ian Borden, the president of the company's international business, McPlant “is crafted exclusively for McDonald's, by McDonald's,” and could also be used in chicken substitutes and other menu items in the future.McDonald’s decided to introduce the plant-based burger after trialling a version in Canada last year.
  
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• Climate crisis: UK to issue first green sovereign bonds to help fund transition to net zero

  09-11-2020 19:35 via uk.finance.yahoo.com
  
  The UK government will issue its first ever green bonds to fund investment in tackling the climate crisis and aid the recovery from the pandemic, Rishi Sunak has announced.The government wants to "renew the UK's position as the world's pre-eminent financial centre" following Brexit, the chancellor said.Making a statement in the Commons, Mr Sunak said financial services "will be essential to our economic recovery from coronavirus, creating jobs and growth right across our country".
  
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• 8 best home phones that are life savers if you live in a mobile signal black spot

  09-11-2020 19:32 via uk.finance.yahoo.com
  
  First, almost all broadband tariffs still require a landline rental as well, so you might as well have a phone attached to it, right?Then there’s the fact that the battery on a cordless home phone lasts longer than that smartphone you’ve been using all day long when you weren’t at home.The radiation levels from a mobile phone are less of an issue than they used to be, but a cordless landline certainly still offers an even lower health risk.
  
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• Trump supporters flock to 'free speech' social network Parler after US election

  09-11-2020 19:30 via uk.finance.yahoo.com
  
  Supporters of Donald Trump are flocking to a “free speech” network after a crackdown on comments made by the president and his allies on Twitter and Facebook. Parler, which claims to be a censorship free alternative to mainstream social media, was the most downloaded free iPhone app as Twitter placed fact checking labels on all five of the tweets made by Donald Trump. Its astronomical rise - climbing from the 1,023rd most downloaded app on Monday November 2 - could signal the beginni
  
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• McDonald's launches new growth strategy; beats profit estimates

  09-11-2020 19:30 via uk.finance.yahoo.com
  
  It will also debut a "McPlant" line of plant-based menu items, though it declined to say which suppliers it would use for faux burger, faux chicken and breakfast items.It previously tested a vegan "P.L.T." burger by Beyond Meat Incin Canada.The world's biggest burger chain beat revenue and profit estimates for the third quarter on Monday as customers in the United States ordered more hamburgers and fries in drive-through outlets and on delivery apps to avoid dining out during the pandemic.
  
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• EU imposes tariffs on $4bn of US goods in Boeing row

  09-11-2020 19:28 via bbc.co.uk
  
  But the EU signals that it hopes for a settlement when Joe Biden becomes US president next year.
  
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• 10 best home phones that are life savers if you live in a mobile signal black spot

  09-11-2020 19:25 via uk.finance.yahoo.com
  
  There are plenty of choices to be made when you’re deciding on a new landline phone.In most cases, even if you really only want the broadband, you probably have to subscribe to a landline, too, and since a landline phone is much more affordable than most mobiles, it makes sense to have one.Additionally, you may not be blessed with perfect mobile signal throughout your home, so a landline overcomes any notspot you might encounter.
  
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• PWC boss Kevin Ellis says mental health issues among staff is one of his biggest concerns about Covid lockdown

  09-11-2020 19:21 via uk.finance.yahoo.com
  
  The head of accounting giant PWC today warned fellow bosses to beware of a host of new cases of mental illness hitting staff as the Covid-19 lockdown forces employees to work from home again.Kevin Ellis told the Evening Standard employees’ mental wellbeing was at the top of his agenda as his 25,000 staff went back into lockdown.“It is the one thing that comes up most often when we are talking to CEO clients: the mental health challenge of work from home,” he said.
  
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• Consumers’ credit complaints jump over summer

  09-11-2020 19:10
  Claims management companies have driven a big rise in successful claims to the regulator, experts say
  
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• Aldi extends click and collect to 200 more shops

  09-11-2020 19:08 via bbc.co.uk
  
  The discount supermarket chain is expanding its trial as it faces growing competition from rivals.
  
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• UK growth to get shot in the arm from 'game changing' vaccine

  09-11-2020 19:05 via uk.finance.yahoo.com
  
  The vaccine breakthrough has been hailed as a “game changer” for the UK economy, with growth in 2021 set to surge as Covid restrictions are rolled back. Economists predicted that a rapid recovery next year could return the economy to pre-virus levels as soon as the summer, far quicker than expected before drugmaker Pfizer unveiled promising results from its blockbuster jab trial. The Centre for Economics and Business Research (CEBR) said GDP growth could reach double digits next year
  
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• BioNTech: plucky German upstart leads Covid-19 vaccine race

  09-11-2020 19:03 via uk.finance.yahoo.com
  
  The small German biotech firm BioNTech, started by a husband and wife team with Turkish roots, has never brought a vaccine to market before.
  
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• Sweden halts 5G auction after court grants relief to Huawei

  09-11-2020 19:02 via uk.finance.yahoo.com
  
  Swedish telecoms regulator PTS on Monday halted 5G spectrum auctions after a court suspended parts of its decision that had excluded Chinese telecom equipment maker Huawei from 5G networks.Sweden last month followed the United Kingdom in banning Huawei equipment from its 5G network citing national security risks and asked companies taking part in 5G spectrum auctions to remove components from the company by Jan. 1, 2025.
  
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• Court grants stay on exclusion of Huawei from Swedish 5G networks

  09-11-2020 19:02 via uk.finance.yahoo.com
  
  A Swedish court on Monday granted a stay against Swedish telecoms regulator PTS' decision last month to exclude Chinese telecom equipment maker Huaweifrom its 5G networks.Huawei last week appealed against the decision saying it wanted a court to check if the decision had been taken according to the law.Certain parts of PTS' decision prior to the upcoming 5G auction will not apply until further notice, the Stockholm administrative court said in a decision which would allow Huawei's involvement in
  
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• Toyota GR Yaris review: this sensational special project takes the hot hatchback crown

  09-11-2020 19:01 via uk.finance.yahoo.com
  
  The story goes that Akio Toyoda, the president of Toyota and no mean driver, blagged a test drive in the company’s Yaris World Rally Championship (WRC) contender, climbed out and said “Build it” to his nonplussed engineers. They’re a breed apart, these motor industry bosses… So, that’s a three-door hatchback built of magic dust and unobtainium, designed to take the chequered flag at a WRC rally and then virtually fall apart. Never mind the need for a five-yea
  
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• Zoom forced to upgrade security after making 'deceptive' encryption claims

  09-11-2020 19:00 via uk.finance.yahoo.com
  
  Zoom has agreed to bolster its security after a US government investigation found it had misled users about whether their video calls were protected. The Federal Trade Commission (FTC) settled a year-long probe that found Zoom had undermined people’s online safety by claiming video meetings were secured by end to end encryption. As a result, the video calling company will be subjected to routine security reviews, and must examine future software updates for any flaws. Zoom has soared in va
  
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• Sakuna: Of Rice and Ruin review – slay demons … and cultivate rice

  09-11-2020 19:00 via uk.finance.yahoo.com
  
  Sakuna: Of Rice and Ruin review – slay demons … and cultivate ricePC, PS4, Switch: EdelweissThis unusual take on virtual farming has you battling demons – when you’re not tending to rice paddies
  
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