Business news

• UK three-quarter growth disappoints despite record 15.5pc rebound – latest updates

  11-11-2020 23:22 via uk.finance.yahoo.com
  
  UK GDP data at 7am Figures set to show biggest-ever rise in quarterly output FTSE 100’s eight-day rally expected to fizzle out Christmas presents at risk as online orders rocket Ambrose Evans-Pritchard: Trump contaminated Brexit, but Biden could be its saviour Sign up here for our daily business briefing newsletter
  
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• Rising gas demand through 2040 needs $2 trillion in capital - Woodmac

  11-11-2020 23:05 via uk.finance.yahoo.com
  
  Rapid gas demand growth expected through 2040 as countries implement clean air policies will require capital of $2 trillion (£1.5 trillion) to develop about 200 billion barrels of oil equivalent of new gas resources, consultancy Wood Mackenzie said.Asia's gas demand is growing by an average of nearly 3% a year over the next two decades with gas demand expected to double in China and India by 2040, as current low prices boost pro-gas policies, the company said in a white paper released on T
  
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• Development banks make landmark climate pledge, but no fossil fuel phase out

  11-11-2020 23:03 via uk.finance.yahoo.com
  
  The world's public development banks on Wednesday pledged to align their financial firepower with the Paris Agreement on climate change, but avoided a firm commitment to phase out fossil fuel financing.As a source of funding for many large infrastructure projects, including in the energy sector, public development institutions are key to efforts to steer finance away from fossil fuels and into low-carbon projects.Together, such institutions invest around $2.3 trillion (£1.7 trillion) each
  
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• Fears over conflict of interest as Premier League executive takes over as interim FA chairman

  11-11-2020 21:23 via uk.finance.yahoo.com
  
  Senior football figures warned of a potential conflict of interest at the Football Association on Wednesday night after a long-serving Premier League executive was hired as interim chairman. Peter McCormick takes over following Greg Clarke’s embarrassing resignation, despite continuing as chairman of the legal advisory group of England’s top tier. The FA on Wednesday night clarified that Mark Bullingham, the governing body chief executive, would oversee the FA’s “golden s
  
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• Pfizer chief sold $5.6m of shares on day Covid vaccine was announced

  11-11-2020 20:57 via uk.finance.yahoo.com
  
  Pfizer chief sold $5.6m of shares on day Covid vaccine was announced. Pfizer said sale of shares by Albert Bourla was automated under plan set up in August
  
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• Mini-nuclear plants may be an experiment worth exploring

  11-11-2020 20:37 via uk.finance.yahoo.com
  
  Mini-nuclear plants may be an experiment worth exploringRoll-Royce gave an eye-catching pitch but the economics of nuclear power needs further inspection
  
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• UK takes aim at China with revamp of takeover rules

  11-11-2020 20:34
  Boris Johnson wants greater powers to block deals on national security grounds
  
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• TikTok asks US court to intervene after Trump administration leaves app in limbo

  11-11-2020 20:10 via uk.finance.yahoo.com
  
  TikTok asks US court to intervene after Trump administration leaves app in limboPlatform says it’s received ‘no clarity’ from government about status of proposal to place app under control of US companies
  
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• Capital gains reform would bring limited benefits

  11-11-2020 20:04
  Higher rates are unlikely to deliver bumper receipts for the UK Treasury
  
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• Staff who work from home after pandemic 'should pay more tax'

  11-11-2020 19:53 via uk.finance.yahoo.com
  
  Staff who work from home after pandemic 'should pay more tax'. Deutsche Bank report argues that the proceeds should help lower-paid workers
  
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• UK struggling to conclude Canada trade deal, says Trudeau

  11-11-2020 19:48
  Heading for January 1 end to Brexit transition, British government does not have ‘the bandwidth’, says Ottawa PM
  
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• UK struggling to conclude Canada trade deal, says Justin Trudeau

  11-11-2020 19:48
  Ottawa claims British government does not have ‘the bandwidth’ to finalise agreement
  
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• Overhaul of UK capital gains tax urged in review

  11-11-2020 19:28
  Losers would be those who hold second homes or assets outside vehicles such as ISAs
  
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• Tax people who work from home 5% to support at-risk jobs, says investment bank

  11-11-2020 19:26 via uk.finance.yahoo.com
  
  Tax could raise £6.9bn to support jobs at risk as society adjusts, say analysts
  
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• Flagship youth unemployment scheme suffers slow start as second wave strikes

  11-11-2020 19:21 via uk.finance.yahoo.com
  
  Rishi Sunak’s £2bn youth unemployment scheme has struggled to take off as just a fraction of the hundreds of thousands of expected placements have been created since its launch. The Treasury revealed the Kickstart Scheme has generated just under 20,000 placements since opening in September, less than a tenth of the roles expected to be created for hard hit younger workers. Mr Sunak’s flagship youth unemployment scheme pays the national minimum wage to 16-24 year olds, for 25 ho
  
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• Paul Moore obituary

  11-11-2020 19:20 via uk.finance.yahoo.com
  
  Paul Moore obituaryHBOS whistleblower who had warned against its unsustainable lending and the sale of financial products such as PPI
  
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• Trump's First Formal Public Appearance Since Losing Election

  11-11-2020 19:19 via uk.finance.yahoo.com
  
  President Trump has made his first formal public appearance since losing the election.He marked Veterans Day by laying a wreath at the Tomb of the Unknown Soldier.
  The president has not spoken to the media in person since last Thursday.While foreign leaders around the world have been congratulating president-elect Biden, other “political strongmen” around the world have yet to comment on the imminent change of regime at the White House.#Trump #Biden #Pompeo.
  
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• Pfizer chief sold stock worth $5.6m on same day as vaccine announcement

  11-11-2020 19:08 via uk.finance.yahoo.com
  
  Pfizer’s chief executive sold shares worth millions on Monday, the same day the drug maker announced its coronavirus vaccine was more than 90pc effective. Albert Bourla sold more than 130,000 shares on Monday as part of a scheduled plan to sell some of his shares in Pfizer, according to a US Securities and Exchange Commission filing. The shares were sold at $41.94 each - close to the intra-day high of $41.99 - meaning he made about $5.6m (£4.2m) from the sale. Sally Susman, Pfizer's
  
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• Competition chief attacks new foreign takeover regime

  11-11-2020 18:51 via uk.finance.yahoo.com
  
  A former top competition watchdog has hit out at an “intrusive” crackdown on foreign takeovers as City dealmakers warned the rules could tip crisis-hit firms over the edge by stopping them raising money quickly. John Fingleton, who ran the Office of Fair Trading monopolies regulator from 2005 until 2012, branded the regime “over-expansive” and dismissed its benefits as “very illusory” amid fears it could wreck the City's reputation as a global hub. He said: &l
  
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• ‘I have to pay £40,000 because of flammable cladding’

  11-11-2020 18:45 via bbc.co.uk
  
  “Flammable cladding on my block of flats is costing me £40,000.”
  
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• Dyson staff express concern over return to workplace order

  11-11-2020 18:45 via uk.finance.yahoo.com
  
  Dyson staff express concern over return to workplace order. Research and development workers told they can only work from home in ‘exceptional cases’
  
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• Markets close higher as Pfizer vaccine rally continues

  11-11-2020 18:44 via uk.finance.yahoo.com
  
  The FTSE 100 closed 85.25 points higher at 6,382.1 at the end of trading on Wednesday.
  
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• Amazon's Ring video doorbells catch fire because wrong screw used

  11-11-2020 18:37 via bbc.co.uk
  
  There have been dozens of cases of property damage and injuries to owners.
  
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• Apple says its new MacBooks will make you look better on video calls

  11-11-2020 18:33 via uk.finance.yahoo.com
  
  Laptops are better at processing images from webcams – even if the cameras themselves are not improved
  
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• Lufthansa reaches crisis deal with union to cut costs

  11-11-2020 18:31 via uk.finance.yahoo.com
  
  German airline Lufthansasaid on Wednesday it had reached a new deal with trade union Verdi to cut 200 million euros (£178 million) in costs in return for making no compulsory redundancies in 2021.Lufthansa warned last week it would burn through more cash in the fourth quarter than in the third and that further restructuring measures would weigh on its results as it struggles to cope with the effects of the COVID-19 pandemic.Lufthansa and its subsidiaries Eurowings, Swiss, Austrian and Brus
  
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• The FTSE 100 has surged 14% this month, but I’d keep buying these cheap shares!

  11-11-2020 18:22 via uk.finance.yahoo.com
  
  The FTSE 100 has had a remarkable November so far, up 14% in eight trading days. Yet I'd still buy these quality stocks and cheap shares today.
  The post The FTSE 100 has surged 14% this month, but I’d keep buying these cheap shares! appeared first on The Motley Fool UK.
  
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• Wall Street is not overly worried Trump can overturn election

  11-11-2020 18:21 via uk.finance.yahoo.com
  
  U.S. stock investors have expressed concerns that President Donald Trump's effort to contest the U.S. election without evidence could roil markets temporarily, but few appeared seriously worried that challenges to the results will succeed.Ahead of the election, analysts had said a key risk to financial market stability was the possibility that Trump would contest the result if he lost, or refuse to leave office.Sectors that were expected to outperform under President-elect Joe Biden are surging,
  
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• TikTok ban: Video app asks for help from court as Trump decision hangs in the balance

  11-11-2020 18:20 via uk.finance.yahoo.com
  
  TikTok has asked a court to help decide its status as the threat of a ban continues to loom.Donald Trump had insisted he would have the app banned, accusing it of being a national security risk and being dangerously close to the Chinese government.The deadline for a solution to those problems to be find will arrive on Thursday, and a proposal for TikTok's US operations to be sold off has been established in recent months.
  
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• Xbox Series X: Microsoft is ‘investigating’ reports of smoking consoles – but they may be fake

  11-11-2020 18:09 via uk.finance.yahoo.com
  
  Microsoft says it is "investigating" reports of smoking consoles, after videos emerged of fumes coming out of the top of a new Xbox Series X.Users have already pointed out that it's unlikely such a device would emit such billowing, white fumes – but, notably, that a vape pen would be able to.Early users who did the same found that the effect was indistinguishable from those videos that claimed to show smoke coming from inside the Xbox.
  
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• Mercedes-Benz Berlin plant head to join Tesla, union says

  11-11-2020 18:05 via uk.finance.yahoo.com
  
  The head of the Berlin engine plant run by Mercedes-Benz has defected to rival Tesla , German union IG Metall said on Wednesday, calling on employees to protest over his departure.Tesla declined to comment on whether it had found a new manager for a Gigafactory being built on the outskirts of Berlin.Last month, a source told Reuters that Evan Horetsky, a Tesla manager who oversaw the construction of the electric carmaker's Gruenheide plant, had left his position.
  
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• Mercedes-Benz Berlin plant boss to join Tesla, union says

  11-11-2020 18:05 via uk.finance.yahoo.com
  
  The head of the Berlin engine plant run by Mercedes-Benz has defected to rival Tesla , German union IG Metall said on Wednesday, calling on employees to protest over his departure.IG Metall declined to name the head of the plant, which has been run by Rene Reif, one the most experienced manufacturing executives at Mercedes-Benz who helped expand manufacturing capacity for Daimlerin China.Reif used to be head of engineering and manufacturing at Beijing Benz Automotive Co. Daimler's Chinese joint
  
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• We need better trade data to meet net zero targets, says experts

  11-11-2020 17:59 via uk.finance.yahoo.com
  
  Experts have called for lawmakers to mandate a "test and trace system" for global trade to ensure countries can meet their net zero targets. "One of the key areas where we need better transparency is in finance," said Niki Mardas Executive Director of environmental non-profit Global Canopy, speaking at The Telegraph's Technology Intelligence Live event. He added the world’s largest investment banks have provided £2trn of financing to sectors that have helped drive mass extinctions an
  
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• Haulage bosses slam UK government for failure to produce Brexit guide

  11-11-2020 17:54
  Early drafts of handbook for truck drivers were rejected as ‘unusable’
  
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• Toy chain warns Christmas gifts may not be delivered in time if shops stay shut

  11-11-2020 17:51 via uk.finance.yahoo.com
  
  The Entertainer boss Gary Grant said there was 'not enough delivery capacity' if the current lockdown in England is extended next month.
  
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• Hilco puts DIY chain Homebase up for sale

  11-11-2020 17:50 via uk.finance.yahoo.com
  
  Turnaround specialist Hilco, its current owner, is seeking to secure a deal from potential buyers after just over two years of getting the company back on track. 
  
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• Properties featured in The Crown rack up energy bills of up to £2m

  11-11-2020 17:37 via uk.finance.yahoo.com
  
  Find out how much royal properties costper year in gas and electricity bills.
  
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• Sure, Australia's inflation rate is low – but the devil is in the detail

  11-11-2020 17:30 via uk.finance.yahoo.com
  
  Sure, Australia's inflation rate is low – but the devil is in the detailNew Bureau of Statistics data categories show essential items have risen in price more much than discretionary items
  
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• Pro-Remain lawyer Jolyon Maugham sued over alleged '£500,000 unpaid bill' for windmill restoration

  11-11-2020 17:27 via uk.finance.yahoo.com
  
  A campaigning barrister is being sued for almost £500,000 in unpaid bills by builders renovating his iconic windmill home, amid claims he caused delays to the project over where to put light switches, a court has heard. Jolyon Maugham QC, best known for leading the legal challenge against Brexit, gained notoriety last year after revealing he had clubbed a fox to death in his garden, while wearing his wife’s kimono, because it was reportedly trying to eat his chickens. Now he is being
  
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• These FTSE 100 shares’ prices have seen double-digit rises in 2 weeks. I’d buy them now

  11-11-2020 17:26 via uk.finance.yahoo.com
  
  FTSE 100 stocks are on a roll as equity markets rally on Biden bounce and vaccine discovery. But there are still buying opportunities. Here are a few. 
  The post These FTSE 100 shares’ prices have seen double-digit rises in 2 weeks. I’d buy them now appeared first on The Motley Fool UK.
  
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• Rolls-Royce plans fleet of 16 mini nuclear power stations across UK

  11-11-2020 17:21 via uk.finance.yahoo.com
  
  Consortium claims ‘small modular reactors’ can help UK reach net zero emissions while creating jobs
  
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• The FTSE 100 is on a roll. Here’s how I’d invest my first £500 now

  11-11-2020 17:17 via uk.finance.yahoo.com
  
  The FTSE 100’s recent gains are enough to tempt investors to make their first stock purchases. Luckily, there are plenty of options to choose from. Here are 3. 
  The post The FTSE 100 is on a roll. Here’s how I’d invest my first £500 now appeared first on The Motley Fool UK.
  
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• Government pays nearly £136m in interest on Covid-19 loans

  11-11-2020 17:15 via uk.finance.yahoo.com
  
  The Government has also paid around £39.2 million in arrangement fees.
  
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• Here’s what I did about UK shares soaring on the coronavirus vaccine breakthough

  11-11-2020 17:09 via uk.finance.yahoo.com
  
  Some UK shares made huge gains on the back on the coronavirus vaccine news. My portfolio benefitted as well, but I did not rush to buy anything this week.
  The post Here’s what I did about UK shares soaring on the coronavirus vaccine breakthough appeared first on The Motley Fool UK.
  
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• Why staff need to realise that HR is not your friend

  11-11-2020 17:07 via uk.finance.yahoo.com
  
  The role of HR is seldom to protect you and your colleagues. Their priority is to protect the business.
  
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• Northern Powerhouse worst hit by pandemic

  11-11-2020 17:07 via uk.finance.yahoo.com
  
  The North has been hit harder than the rest of England during thepandemic, "exacerbating" regional inequalities, according to a study.
  
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• Tax people to work from home, says Deutsche Bank

  11-11-2020 16:56 via uk.finance.yahoo.com
  
  Choosing to earn a living from home once the pandemic ends is a privilege that you should pay for, according to strategists from Deutsche Bank AG’s research arm. “Working from home will be part of the ‘new normal’ well after the pandemic has passed,” the strategists led by Luke Templeman wrote in a note. “We argue that remote workers should pay a tax for the privilege.” The team propose a 5pc levy for those who work from home on a regular basis and not b
  
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• Pay more tax to work from home, says Deutsche Bank

  11-11-2020 16:56 via uk.finance.yahoo.com
  
  People who choose to work from home should be taxed more up for the privilege, according to Deutsche Bank economists. A team at the German lender has proposed a 5pc levy for those who choose to regularly work from home outside of lockdowns, arguing that such a measure could raise $48bn (£36bn) a year in the US and €16bn in Germany. "Working from home will be part of the ‘new normal’ well after the pandemic has passed," the strategists wrote in a new report. "We argue that
  
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• Government pays out £359m in payments to staff at collapsed firms

  11-11-2020 16:54 via uk.finance.yahoo.com
  
  The Insolvency Service figures for the first nine months also show £114.46m was paid in the third quarter of the year.
  
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• Sky Bet owner breaks records in the US

  11-11-2020 16:51 via uk.finance.yahoo.com
  
  Flutter Entertainment, the bookmaker behind brands such as Sky Bet, Paddy Power and Betfair, has said it will be the first operator to smash through the $1bn (£750m) revenue barrier in the US. Betting firms are scrambling to gain market share across the Atlantic as a decades-long ban on sports gambling is repealed on a state-by-state basis. Chief executive Peter Jackson said: “We think it is a major first for an online operator.” US gross gambling revenue was on track to be $1.
  
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• Payments group Nexi extends $8 billion Nets merger talks

  11-11-2020 16:48 via uk.finance.yahoo.com
  
  Italy's biggest payments group Nexihas extended its exclusive merger talks with Nordic rival Nets to Nov. 16, it said on Wednesday as it reported stronger-than-expected third-quarter earnings.Nexi entered the exclusive discussions in early November over a potential $8 billion (£6 billion) deal, which would follow an agreement struck with Milan-based SIA just a month ago for a multi-billion merger to create an Italian champion.Talks between Nexi and Nets over an all-share merger, announced
  
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