Business news

• FA unlikely to appoint former player to replace Greg Clarke as chairman

  13-11-2020 23:48 via uk.finance.yahoo.com
  
  The Football Association is unlikely to appoint a former player as its next chairman following Greg Clarke's resignation.The governing body is targeting an appointment who will be an ambassador for English football around the globe and front a possible World Cup bid in future.There has been clamour for the new chair to be a former professional or from a BAME background since Clarke resigned for using a string of offensive comments before MPs on Tuesday.
  
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• More than 800 jobs to go at Greggs amid UK lockdowns

  13-11-2020 22:50 via uk.finance.yahoo.com
  
  The move comes two months after the bakery chain said it was in talks with staff to minimise job losses.
  
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• US extends deadline for TikTok sale to Nov 27

  13-11-2020 21:17 via uk.finance.yahoo.com
  US authorities have given the Chinese owner of TikTok two additional weeks to divest the social media sensation in order to resolve national security concerns voiced by President Donald Trump's administration.
  
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• Markets report: Investors cheer rent deal for Revolution as it closes six bars

  13-11-2020 21:11 via uk.finance.yahoo.com
  
  Revolution Bars' stock jumped to levels last reached in August on Friday, on approval of a company voluntary arrangement restructure plan. The operator of 72 bars across the UK said it will close six of its sites after being saved by its creditors and landlords, with 88pc voting in favour of the plan. It is currently burning through £400,000 a week. Reduced rental terms have also been agreed for seven other bars, which are now subject to turnover-based rents with a minimal rental threshold
  
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• French finance minister says compromise can be reached over U.S.-EU trade sanctions

  13-11-2020 20:54 via uk.finance.yahoo.com
  
  French Finance Minister Bruno Le Maire said on Friday he thinks a compromise can be reached over sanctions the United States and the European Union have imposed on each other over civil aviation subsidies for Boeing Coand Airbus ."I think that a compromise can be reached in the coming weeks, there is a possibility to build an agreement between the U.S. and Europe on this Airbus-Boeing case," Le Maire said in an interview with CNN.
  
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• UK stock market records best week since April as vaccine hopes boost shares

  13-11-2020 20:51 via uk.finance.yahoo.com
  
  Pound also gained against the dollar and euro after news that  Boris Johnson’s top aide Dominic Cummings was set to leave
  
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• McDonald's franchisees face company inspections amid 'COVID fatigue'

  13-11-2020 20:36 via uk.finance.yahoo.com
  
  McDonald's Corpfranchisees will be inspected by the company to ensure compliance with safety standards as coronavirus cases surge again and "COVID fatigue" sets in, according to an internal note seen by Reuters on Friday."It is apparent we are entering what many predicted would be the most difficult period of the pandemic," said the note, from McDonald's Chief Field Officer Charlie Strong and two U.S. franchisees who lead internal relations with the corporation.The so-called "safety reaffirmatio
  
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• Top US Democrat says Facebook 'part of the problem'

  13-11-2020 20:16 via uk.finance.yahoo.com
  
  The top Democrat in the US Congress on Friday joined in criticism against Facebook for allowing disinformation to spread over the social media platform, saying it was "part of the problem."
  
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• US deadline to sell TikTok extended to Nov 27

  13-11-2020 20:00 via uk.finance.yahoo.com
  
  US authorities have given the Chinese owner of TikTok two additional weeks to divest the social media sensation in order to resolve national security concerns voiced by President Donald Trump's administration, according to a court filing Friday.
  
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• Block on JD Sports’ takeover of Footasylum overturned

  13-11-2020 19:48 via uk.finance.yahoo.com
  
  JD Sports could be allowed to hold onto smaller rival Footasylum after all as the competition watchdog’s decision to block the deal was sensationally quashed. The Competition Appeal Tribunal (CAT) in a rare intervention effectively overruled the Competition and Markets Authority's (CMA) verdict that would have forced JD Sports to sell Footasylum to a rival over competition concerns. However, the tribunal did largely agree with the watchdog’s probe - heavily criticised by JD Sports -
  
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• Wall Street Week Ahead: Stock investors cast wary eye on yield rally

  13-11-2020 19:31 via uk.finance.yahoo.com
  
  As Treasury yields rally to multi-month highs, some investors are gauging how a more sustained rise could impact equity markets.Yields on the 10-year Treasury, which move inversely to bond prices, rose to a seven-month high of 0.97% in the past week on hopes that breakthroughs in the search for a COVID-19 vaccine would eventually translate to a boost in economic growth.The Federal Reserve has pledged to keep interest rates near historic lows for years to come in its bid to support growth, and pa
  
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• UK coronavirus growth continues to slow, new studies show

  13-11-2020 19:27
  Weekly increase in cases falls to 5.8 per cent from 8.8 per cent
  
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• Britain's Greggs to cut 820 jobs

  13-11-2020 19:23 via uk.finance.yahoo.com
  
  British baker Greggswill cut 820 shop staff jobs as it expects trading to remain below normal for the foreseeable future due to the COVID-19 pandemic, a company spokeswoman confirmed on Friday.The job losses were first reported by The Sun.Greggs, best known for its sausage rolls, steak bakes and vegan snacks, said in September it had launched a consultation with union and employee representatives and was aiming to minimise job losses by negotiating reduced staff hours.
  
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• Tata Steel funding plans ‘extremely worrying’ for workers

  13-11-2020 19:18 via uk.finance.yahoo.com
  
  Tata Steel said on Friday it would look to make its UK operations 'self-sustaining'.
  
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• DoorDash food delivery app announces plans to go public

  13-11-2020 19:17 via uk.finance.yahoo.com
  
  DoorDash food delivery app announces plans to go public* Share sale will be one of year’s most hotly anticipated* US company has thrived during coronavirus pandemic
  
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• Ticketmaster fined £1.25m for 2018 cyberattack

  13-11-2020 19:10 via uk.finance.yahoo.com
  
  More than 9 million people may have been affected, the regulator says
  
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• Covid-hit companies register big gains on FTSE after vaccine news

  13-11-2020 19:08 via uk.finance.yahoo.com
  
  Covid-hit companies register big gains on FTSE after vaccine newsHopes of a return to normal life have boosted some share prices this week
  
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• GM recalling nearly 69,000 Bolt EVs for fire risks

  13-11-2020 19:04 via uk.finance.yahoo.com
  
  General Motors Cosaid on Friday it was recalling 68,677 electric cars worldwide that pose a fire risk after five reported fires and two minor injuries.The recall is for 2017-2019 model-year Chevrolet Bolt EVs with high voltage batteries produced at LG Chem Ltd'sOchang, Korea facility.The National Highway Traffic Safety Administration (NHTSA) last month opened a preliminary investigation into the Bolt EVs after reports of three Bolts catching fire under the rear seat while parked and unattended.
  
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• Twitter made it harder to share misinformation by making it harder to share anything

  13-11-2020 18:55 via uk.finance.yahoo.com
  
  Twitter said that it saw a 20 per cent decrease in the spread of information, and therefore misinformation
  
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• Europa: Nasa discovers the secret to Jupiter’s colour-changing, glowing moon

  13-11-2020 18:55 via uk.finance.yahoo.com
  
  The glow could provide more information about the moon’s global interior ocean
  
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• MacOS Big Sur release: New update available to download as some early users hit by app opening problems

  13-11-2020 18:54 via uk.finance.yahoo.com
  
  Apple has finally released Big Sur, its latest major revision of the Mac operating system.It comes alongside Apple’s new MacBooks and Mac Mini, which include the M1 chip, the first that Apple has designed in-house and which promises vastly improved performance.Big Sur brings a total redesign to the look of the operating system, bringing it more in line with the design of the iPhone and iPad.
  
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• These two cheap shares have soared in November. I’d still buy them today!

  13-11-2020 18:49 via uk.finance.yahoo.com
  
  It's been a great month so far for UK shares, as prices soar on good news. These cheap shares are already up 16% and 25% in November, but I'd keep buying.
  The post These two cheap shares have soared in November. I’d still buy them today! appeared first on The Motley Fool UK.
  
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• Teva in EU antitrust crosshairs over its Copaxone drug

  13-11-2020 18:48 via uk.finance.yahoo.com
  
  Israeli drugmaker Tevais the target of an EU antitrust investigation over the possible abuse of its dominant position related to its multiple sclerosis medicine Copaxone, the European Commission said on Friday.The EU competition enforcer raided Teva in October last year and in January this year as part of its investigation, the EU executive said in a statement.Teva can face fines up to 10% of its global turnover if found guilty of breaching EU antitrust rules.
  
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• Trading partners seek post-Brexit clarity at WTO

  13-11-2020 18:42 via uk.finance.yahoo.com
  
  Major trading partners called on Britain and the European Union (EU) on Friday to clarify terms for renegotiating tariff levels after Brexit and for compensating their suppliers for any lost market access, a Geneva trade official said.At a closed-door meeting of the World Trade Organization, held just 50 days before the end of the transition period, they also sought details of how EU-UK trade will be treated in the absence of a bilateral agreement, he said.
  
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• Russian and North Korean hackers have penetrated Covid-19 vaccine companies, Microsoft says

  13-11-2020 18:40 via uk.finance.yahoo.com
  
  Hackers working for Russia and North Korea have broken into the online systems of drug companies developing coronavirus vaccines, Microsoft has said. The tech giant, whose software protects 195 healthcare organisations covering about 1.7m email accounts, said it had seen repeated intrusions by three known hacking groups against vaccine makers and other research bodies in the US, Canada, France, India and South Korea. Tom Burt, vice president of customer security and trust, said that while the ma
  
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• Analysis: Battered value bulls wary as vaccine news fuels cheap stock surge

  13-11-2020 18:35 via uk.finance.yahoo.com
  
  A long period of underperformance for value stocks has frustrated Mike Mullaney, whose firm's investing style is "all value, all the time."One low point came when Mullaney noticed competing funds in the value space buying up big technology and other momentum stocks - regarded as the antithesis of value - to juice their performance."To say it’s been a tough slog is an understatement," said Mullaney, director of global markets research at Boston Partners, which manages over $60 billion (&pou
  
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• Vaccine optimism fades on muted day for markets

  13-11-2020 18:34 via uk.finance.yahoo.com
  
  The FTSE 100 closed the day down 22.55 points, or 0.36%, at 6316.39.
  
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• DoorDash IPO filing shows growth surge in pandemic

  13-11-2020 18:27 via uk.finance.yahoo.com
  
  DoorDash is on track to take in some $2 billion in revenue this year on growing demand during the pandemic, the food delivery startup said in its public share offering filing Friday.
  
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• EU Commission seeks feedback on new data transfer tools after court ruling

  13-11-2020 18:25 via uk.finance.yahoo.com
  
  The European Commission on Friday sought feedback on two new data transfer tools after Europe's top court in July set strict conditions for such mechanisms used by thousands of companies to transfer Europeans' data around the world for various services.The Luxembourg-based EU Court of Justice upheld the validity of the data transfer mechanism known as standard contractual clauses (SCCs) in a case involving Facebook and Austrian privacy activist Max Schrems, who has campaigned about the risk of U
  
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• Watchdog's ban on JD Sports's Footasylum takeover overturned

  13-11-2020 18:13 via uk.finance.yahoo.com
  
  The Competition Appeals Tribunal said on Friday that CMA acted “irrationally” when it ruled in May that the tie-up would lead to a “substantially” lessening of competition nationally.
  
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• COVID-Christmas set to drive premium spirit sales

  13-11-2020 18:08 via uk.finance.yahoo.com
  
  Sales are set to rise as Brits choose cocktails over wine and beer this Christmas.
  
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• Black Friday scammers targeting Christmas gifts and popular lockdown purchases

  13-11-2020 18:08 via uk.finance.yahoo.com
  
  Black Friday scammers are targeting lockdown purchases like patio heaters and sheds, the banking industry has warned. UK Finance, the trade body for the biggest financial institutions, said criminals would target people trying to take advantage of the sales for purchase fraud, where consumers are tricked into paying for products which are shoddy or do not exist. It said there had been a rising trend for scams linked to Christmas gifts, like video games and consoles, and items which have been pop
  
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• Elon Musk tests positive for Covid but questions result: ‘Two tests came back negative, two came back positive’

  13-11-2020 18:04 via uk.finance.yahoo.com
  
  ‘Something extremely bogus is going on,’ Tesla boss tweets
  
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• Republican consumer sentiment plunges after Trump defeat: survey

  13-11-2020 18:03 via uk.finance.yahoo.com
  
  Sentiment among Republican consumers plunged this month after US President Donald Trump lost his bid for a second term, according to a survey released Friday.
  
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• Early vaccine could limit some ratings damage - S&P Global

  13-11-2020 17:56 via uk.finance.yahoo.com
  
  An early coronavirus vaccine could limit some of the damage country and company credit ratings are facing, S&P Global said on Friday, although more progress is needed before the downgrade warning levels can be lowered.S&P has made over 2,000 downgrades or outlook changes this year due to the pandemic.What is more, it still has negative outlooks - downgrade warnings in rating agency speak - on a third of the 4,400 companies, countries and banks that it rates.
  
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• Blow for Competition and Markets Authority as JD Sports overturns block on it takeover of Footasylum

  13-11-2020 17:56 via uk.finance.yahoo.com
  
  The deal had been blocked in a widely-criticised decision by the
  
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• Ticketmaster fined £1.25m for data breach after it waited nine weeks to monitor fraudulent activity

  13-11-2020 17:55 via uk.finance.yahoo.com
  
  Ticketmaster took nine weeks to start monitoring for fraud after being told of a data breach, the information watchdog has revealed, as it fined the firm £1.25m. The problem, which dates back to 2018 and potentially affected 1.5 million customers in the UK, related to a chat-bot installed on the website’s payment page which, the Information Commissioner’s Office (ICO) said, was not appropriately secure. Announcing the fine today, the watchdog noted that it had taken the firm ni
  
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• UK watchdog may appeal Tribunal's findings on JD Sports-Footasylum deal

  13-11-2020 17:53 via uk.finance.yahoo.com
  
  "We will now take stock of today's judgment and carefully consider our next steps, including whether to appeal," CMA Chief Executive Andrea Coscelli said https://www.gov.uk/government/news/cma-considers-next-steps-in-jd-sports-footasylum-merger, adding it was disappointed the Competition Appeal Tribunal disagreed with its approach.The competition watchdog had ordered JD to sell Footasylum earlier this year, saying the sportswear retailer's 86 million pound deal left shoppers worse off.JD had app
  
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• JD Sports in Footasylum reprieve after tribunal overturns watchdog block

  13-11-2020 17:53 via uk.finance.yahoo.com
  
  The Competition and Markets Authority (CMA) had previously halted the £90 million deal, warning it could lead to higher prices for shoppers.
  
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• Pubs and restaurants saw sales plummet ‘by a third in October’ under Tiers restrictions, new report reveals

  13-11-2020 17:52 via uk.finance.yahoo.com
  
  Hospitality venues saw sales hit badly by Covid-19 restrictions implemented in October, a new report has found.The drop, which was starker than that found by the analysts in September, came as the Government implemented its three-tier system in England, and local lockdowns and restrictions were seen in Wales, Scotland and Northern Ireland.
  
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• ByteDance gets 15-day extension on U.S. order to divest TikTok - Treasury

  13-11-2020 17:51 via uk.finance.yahoo.com
  
  The Trump administration granted ByteDance a 15-day extension of a divestiture order that had directed the Chinese company to sell its TikTok short video-sharing app by Thursday.TikTok first disclosed the extension earlier in a court filing, saying it now has until Nov. 27 to reach an agreement.Under pressure from the U.S. government, ByteDance has been in talks for a deal with Walmart Incand Oracle Corpto shift TikTok's U.S. assets into a new entity.
  
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• ByteDance gets 15-day extension from U.S. order to divest TikTok - official

  13-11-2020 17:51 via uk.finance.yahoo.com
  
  The Trump administration has granted ByteDance a 15-day extension of a divestiture order that had directed the Chinese company to sell its TikTok short video-sharing app by Thursday, a U.S. Justice Department official confirmed.TikTok said in a court filing earlier Friday it now has until Nov. 27 to reach an agreement.ByteDance has been in talks for a deal with Walmart Incand Oracle Corpto shift TikTok's U.S. assets into a new entity.
  
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• ByteDance gets 15-day extension from U.S. order to divest TikTok - company

  13-11-2020 17:51 via uk.finance.yahoo.com
  
  The Trump administration granted ByteDance a 15-day extension of a divestiture order that had directed the Chinese company to sell its TikTok short video-sharing app by Thursday, the company said in a court filing on Friday.TikTok said it now has until Nov. 27 to reach an agreement.ByteDance has been in talks for a deal with Walmart Incand Oracle Corpto shift TikTok's U.S. assets into a new entity.
  
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• Biden bounce, vaccine success: Are these the best shares to buy now?

  13-11-2020 17:51 via uk.finance.yahoo.com
  
  Deciding what we think are the best shares to buy can be tough. I'm struggling because I see too many of them right now.
  The post Biden bounce, vaccine success: Are these the best shares to buy now? appeared first on The Motley Fool UK.
  
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• Can the Lloyds share price spike be maintained? I look for historical clues

  13-11-2020 17:35 via uk.finance.yahoo.com
  
  Lloyds shares are enjoying a surge in positive sentiment, but if past crashes and crises are anything to go by, this may not last.
  The post Can the Lloyds share price spike be maintained? I look for historical clues appeared first on The Motley Fool UK.
  
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• EU hints at a Brexit 'energy blockade' - but power blackouts are a hollow threat

  13-11-2020 17:32 via uk.finance.yahoo.com
  
  The EU has threatened to cut off “top-up access” to European electricity and gas pipelines in the case of a no-deal Brexit, raising the risk of supply squeeze during peak winter demand and potentially a halt to flows in an extreme scenario. European officials deny that this amounts to a Putin-style energy boycott but are clearly dialling up pressure in an increasingly risky game of strategic brinkmanship. There is now an overt linkage between full fishing access to UK waters and the
  
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• Hays Travel founder collapses and dies at head office

  13-11-2020 17:31 via uk.finance.yahoo.com
  
  John Hays started the company in 1980 and was married to co-owner Irene Hays.
  
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• Revolution Bars confirms closure of six bars as creditors back CVA

  13-11-2020 17:30 via uk.finance.yahoo.com
  
  Revolution Bars has confirmed it is to permanently close six venues as part of a major restructure.The chain announced on Friday that its company voluntary arrangement restructure proposal had been approved.The company said 88% of its creditors, which include landlords, approved the Revolution Bars Ltd proposal, which will also see rents reduced at seven of its other bars.
  
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• Ex-Wells Fargo chief hit with fine for misleading authorities

  13-11-2020 17:28 via uk.finance.yahoo.com
  
  US regulators on Friday charged former Wells Fargo CEO John Stumpf with allegedly misleading investors, hitting him with a $2.5 million penalty.
  
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• Caffe Nero calls for rent lifeline as pandemic ‘decimates’ coffee sales

  13-11-2020 17:21 via uk.finance.yahoo.com
  
  Company becomes latest to launch turnaround plan after second lockdown keeps commuters and shoppers home
  
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