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September 30, 2020
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BBC – Business

BBC - Business

Boohoo profit soars despite factory conditions row

BBC
https://www.bbc.co.uk/news/business-54352818 Image copyright Boohoo Fast fashion brand Boohoo’s first-half profit has risen 51%, despite a storm over pay and working conditions for those making its clothes. Last week, a review of Boohoo’s supply chain identified “many failings” after concerns were raised about its suppliers in Leicester. Boohoo said it was......
BBC - Business

Caesars owner strikes £2.9bn William Hill deal

BBC
https://www.bbc.co.uk/news/business-54352537 Image copyright Getty Images Caesars Entertainment, the Las Vegas casino-owner, has struck a £2.9bn deal to take over William Hill. The boards of the US firm and William Hill agreed a cash offer of 272p a share, compared with 273p at the start of Wednesday trading, subject to shareholders......
BBC - Business

Shell to cut up to 9,000 jobs as oil demand slumps

BBC
https://www.bbc.co.uk/news/business-54351815 Image copyright Getty Images Royal Dutch Shell has said it plans to cut 7,000 to 9,000 jobs as it responds to challenges including the slump in oil demand amid the Covid-19 pandemic. The oil giant said the cuts would be implemented by 2022 and included 1,500 people who were......
BBC - Business

Blow to UK car industry in hunt for EU trade deal

BBC
https://www.bbc.co.uk/news/business-54345882 Image copyright Reuters Image caption Lord Frost (left) and EU negotiator Michel Barnier Britain’s car industry risks losing out even if there is a post-Brexit trade deal with the EU, according to documents seen by the BBC. Car parts from Japan and Turkey used in the UK will not......
BBC - Business

‘The new Covid support for business is nuts’

BBC
https://www.bbc.co.uk/news/business-54333640 Image copyright Sonia Hawkins Image caption Sonia Hawkins says more jobs will now have to go Chancellor Rishi Sunak admitted last week that his latest coronavirus economic support package won’t save all jobs. But as employers and employees digest the latest plans it’s clear many of them feel viable......
BBC - Business

Plea not to axe £20 a week benefits ‘lifeline’

BBC
https://www.bbc.co.uk/news/business-54344099 Image copyright Getty Images Millions of the UK’s poorest households could see their incomes cut by £20 a week from April unless a “lifeline” payment continues, charities warn. The Joseph Rowntree Foundation and others are calling on the chancellor to make a temporary rise in Universal Credit, plus other......
BBC - Business

‘Hundreds of thousands’ of airline jobs at risk

BBC
https://www.bbc.co.uk/news/business-54334558 Image copyright Reuters Image caption The IATA downgraded its forecasts after “a dismal end to the summer travel season” Hundreds of thousands of aviation jobs are at risk without more state aid, a global industry body has warned. The International Air Transport Association (IATA) downgraded its 2020 traffic forecasts,......
BBC - Business

Ex-Sainsbury’s boss takes key Test and Trace job

BBC
https://www.bbc.co.uk/news/business-54345950 Image copyright Reuters Former Sainsbury’s supermarket chief executive Mike Coupe is to take over as director of Covid-19 testing at England’s Test and Trace agency. He brings huge experience in running supply chains and logistics, said the Department for Health and Social Care. But Labour shadow health secretary Jon......
BBC - Business

Love turns to hate as LVMH sues ‘dismal’ Tiffany

BBC
https://www.bbc.co.uk/news/business-54343668 Image copyright Reuters LVMH once said that Tiffany “stood for love” but it now describes the New York jeweller as a “mismanaged” company with “dismal” prospects. The Louis Vuitton-owner made the claims in a countersuit against Tiffany in a dispute over a $16.2bn takeover deal. LVMH claims Tiffany is......
BBC - Business

Amazon One: Palm scanner launched for ‘secure’ payments

BBC
https://www.bbc.co.uk/news/technology-54337984 image copyrightAmazon image captionThe Amazon One scanner could be used to enter buildings, the firm says Amazon has announced a new payment system for real-world shops which uses a simple wave of the hand. Its new Amazon One scanner registers an image of the user’s palm, letting them pay......
BBC - Business

B&M discount chain to open up to 45 stores

BBC
https://www.bbc.co.uk/news/business-54338762 Image copyright Getty Images Discount chain B&M has said it will open up to 45 new stores this year after sales soared during the coronavirus lockdown. It said its business model was “well-attuned” to customer needs, with discount goods being sold at out-of-town stores. Retailers have had mixed fortunes......
BBC - Business

Mining giant accused of poisoning PNG rivers

BBC
https://www.bbc.co.uk/news/world-asia-54340227 Image copyright Getty Images Image caption A satellite shot of the Panguna mine Mining giant Rio Tinto is facing accusations that a mine it abandoned in Papua New Guinea two decades ago is leaking poisonous waste into rivers. More than 150 people living in Bougainville have filed a complaint......
BBC - Business

Foreign butchers and bricklayers ‘needed in UK’

BBC
https://www.bbc.co.uk/news/uk-54341298 Image copyright Getty Images Butchers, bricklayers and welders are in such short supply that UK employers should be able to recruit them from abroad when EU freedom of movement rules end, government advisers say. The Migration Advisory Committee also wants senior care workers and nursing assistants to be added......
BBC - Business

Tesco aims to boost vegan food sales by 300%

BBC
https://www.bbc.co.uk/news/business-54338754 Image copyright Getty Images Tesco has set a target to sell four times as much meat alternative protein by 2025 as demand for vegan products climbs. The supermarket giant wants a 300% boost in sales compared with 2018 as part of a sustainability drive. It will aim to sell......
BBC - Business

Nokia clinches 5G deal with BT to phase out Huawei’s kit in EE network

BBC
https://www.bbc.co.uk/news/technology-54337759 By Leo Kelion & Rory Cellan-JonesTechnology reporters Nokia is set to become a major beneficiary of Huawei being blocked from the UK’s 5G networks. The Finnish telecoms firm has struck a deal to become the largest equipment provider to BT. Nokia will now provide additional base stations and antennas......
BBC - Business

Greggs hints at job cuts as furlough scheme ends

BBC
https://www.bbc.co.uk/news/business-54336746 Image copyright Getty Images Bakery chain Greggs has hinted at possible job cuts as the government’s furlough scheme ends. The company, which employs 25,000 workers, expects business activity to “remain below normal for the foreseeable future”. It said it had reviewed staff costs and was currently consulting with unions......
BBC - Business

‘I monitor my staff with software that takes screenshots’

BBC
https://www.bbc.co.uk/news/business-54289152 Image copyright Shibu Philip Image caption Shibu Philip’s firm has used the software Hubstaff for the last year and a half Shibu Philip admits he knows what it’s like to “maybe waste a bit of time at work”. Shibu is the founder of Transcend – a small London-based firm......
BBC - Business

Covid: Public spending rise could last longer

BBC
https://www.bbc.co.uk/news/business-54325554 Image copyright Getty Images The government must choose this autumn between more austerity and permanently higher spending, experts warn. Although the Autumn Budget has been cancelled, the Treasury is still set to publish a Spending Review containing government expenditure plans. Because of Covid-19, public spending is likely to rise......
BBC - Business

Bank deputy governor warns against negative rates

BBC
https://www.bbc.co.uk/news/business-54332980 Image copyright Getty Images A Bank of England (BoE) deputy governor has spoken out against setting negative interest rates, which would bring the cost of borrowing below zero. “At present, negative policy rates would be less effective as a tool to stimulate the economy,” Sir Dave Ramsden told the......

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