• Asos boosted by record Black Friday trade Link
    BBC Business Thu 23 Jan 2020 11:05

    Asos sold one black dress every second and one wedding dress every minute during record trade on Black Friday last year.

    That helped sales at the online fashion retailer jump 20% to £1.1bn in the last four months of 2019.

    Asos shares surged 12% on the signs of a turnaround at the firm, which was hit by supply problems last year.

    Chief executive Nick Beighton said the performance was "encouraging" but there was "more work to be done".

    Last July, the company issued a profit warning after problems at its US and European warehouses meant that some stock was unavailable to customers.

  • "My secret is to manage the hell out of time" ?? - Nico Rosberg is a successful Formula 1 driver ?? and entrepreneur Link #Davos2020 https://t.co/DCTfRZBZPW
    BBC Business Thu 23 Jan 2020 10:05
  • RT @BBCBusiness: Two weeks of leave for UK parents who lose a child Link
    BBC Business Thu 23 Jan 2020 10:00

    Parents who lose a child will receive two weeks' paid bereavement leave under new government rules.

    The law will come into force in April, with the UK being the only country to have that right to time off, MPs said.

    It will be known as Jack's Law, in memory of Jack Herd, whose mother Lucy has been campaigning for reform since he drowned aged 23 months in 2010.

    As the law currently stands, there is no automatic right to paid time off for bereavement.

    Under the new law, parents who lose a child under the age of 18 will be able to take leave as either a single block of two weeks, or as two separate blocks of one week each across the first year after the death.

  • RT @BBCBusiness: US plans limits for "emotional support" animals Link
    BBC Business Thu 23 Jan 2020 10:00

    The US is seeking to limit the kinds of animals that airlines must allow on board for free.

    The Department of Transportation has proposed to restrict that right to dogs that are trained to help people with disabilities.

    It said the plan is a response to concerns that increasing passengers are falsely claiming pets as "service animals".

    The proposal is subject to public comment before it goes into effect.

    Among other changes, the proposal would mean that so-called emotional support animals are no longer entitled to the same rights as "service animals".

  • RT @BBCBusiness: Tesla market value passes Volkswagen to hit $100bn Link
    BBC Business Thu 23 Jan 2020 10:00

    Tesla has displaced Volkswagen as the world's second most valuable carmaker, after a dramatic rise in share price pushed its market value to more than $100bn (£76.1bn).

    The milestone sets the stage for chief Elon Musk to collect billions in pay tied to hitting that target.

    Tesla's share price has more than doubled since October, when the firm reported a rare quarterly profit.

    Shares rose 4% on Wednesday, making its valuation second only to Toyota.

    Although Mr Musk's company has some way to go to catch up with the Japanese car making giant. Toyota has a stock market valuation of more than $230bn.

  • "I know a thing or two about time, my success was measured by a hundredth of a second" - Formula 1 star and entrepreneur Nico Rosberg shares his #ceosecrets from the @Davos summit Link https://t.co/ak0Dmpsw6c
    BBC Business Thu 23 Jan 2020 09:50
  • RT @WillSmale1: 'I have to live on $1,175 a year' Read about the struggles faced by Brazilian farm workers who grow and pick fruits stocked…
    BBC Business Thu 23 Jan 2020 09:40
  • US sees post-Brexit UK trade deal by end of 2020 Link
    BBC Business Thu 23 Jan 2020 09:30

    The US expects to complete a post-Brexit trade deal with the UK by the end of this year, Treasury Secretary Steven Mnuchin has said.

    Speaking at the World Economic Forum in the Swiss resort of Davos, Mr Mnuchin said the deal was "an absolute priority" for President Donald Trump.

    "We expect to complete that with them this year," he added.

    Mr Mnuchin also took a sideswipe at climate change activist Greta Thunberg, saying she should study economics.

    In response to a question about Ms Thunberg's call for fossil fuels to be scrapped, he said: "Is she the chief economist?"

  • The World Economic Forum in Davos is being held all week - what's on the agenda for today? #Davos2020 Link https://t.co/HmmhDbYBOQ
    BBC Business Thu 23 Jan 2020 09:00

    Welcome to the BBC Business Live page.

    Today we're expecting a trading update from the online fashion retailer ASOS, while over in Davos, German Chancellor Angela Merkel will deliver a special address.

  • Deepfakes: A threat to democracy or just a bit of fun? Link
    BBC Business Thu 23 Jan 2020 00:35

    "We are already at the point where you can't tell the difference between deepfakes and the real thing," Professor Hao Li of the University of Southern California tells the BBC.

    "It's scary."

    We are at the computer scientist's deepfake installation at the World Economic Forum in Davos which gives a hint of what he means.

    Like other deepfake tools, his software creates computer-manipulated videos of people - often politicians or celebrities - that are designed to look real.

    Most often this involves "face swapping", whereby the face of a celebrity is overlaid onto the likeness of someone else.

  • My Money: 'I had to get tickets, it was a huge sum, $519!' Link
    BBC Business Thu 23 Jan 2020 00:30

    Today I went out to meet my friend for lunch. We met at a sushi place and I ended up getting some sushi as well as some gyoza dumplings, which cost around 1,700 króna ($13.85, £10.60).

  • 'I have to live on $1,175 a year' Link
    BBC Business Thu 23 Jan 2020 00:25

    After a decade working on a fruit farm, Jose Evandro da Silva says he couldn't take it any more.

    "I felt that I was working like a slave," says the 25-year-old.

    Mr da Silva spent 10 years spraying pesticides on melon plants in north eastern Brazil, until he quit at the start of last year.

    He says he was never offered sufficient protective clothing, and that his health suffered as a result. "By the end of the day I always had a headache due to contact with the products.

    "You couldn't even wash your hands before meals," he adds. "We did not have water or soap."

  • Two weeks of leave for UK parents who lose a child Link
    BBC Business Thu 23 Jan 2020 00:10

    Parents who lose a child will receive two weeks paid bereavement leave under new government rules.

    The law will come into force in April, with the UK being the only country to have that right to time off, MPs said.

    It will be known as Jack's Law, in memory of Jack Herd, whose mother Lucy has been campaigning for reform since her 23-month-old son Jack drowned in 2010.

    The law as it stood only allowed Jack's father three days to grieve.

    This included time to attend his funeral.

  • US plans limits for "emotional support" animals Link
    BBC Business Wed 22 Jan 2020 22:05

    The US is seeking to limit the kinds of animals that airlines must allow on board for free.

    The Department of Transportation has proposed to restrict that right to dogs that are trained to help people with disabilities.

    It said the plan is a response to concerns that increasing passengers are falsely claiming pets as "service animals".

    The proposal is subject to public comment before it goes into effect.

    Among other changes, the proposal would mean that so-called emotional support animals are no longer entitled to the same rights as "service animals".

  • Canada prosecutors propose £110m Volkswagen fine Link
    BBC Business Wed 22 Jan 2020 21:40

    Canadian prosecutors want to fine Volkswagen millions of Canadian dollars over its emissions scandal.

    Volkswagen was charged in December with importing nearly 128,000 vehicles into Canada that violated emissions standards.

    The company then pleaded guilty to dozens of counts of diesel emissions violations.

    Globally the scandal has already cost the company more than €30bn in fines, penalties and buyback costs.

    The company said last month it had reached "a proposed plea resolution" in Canada without giving more details.

  • Tesla market value passes Volkswagen to hit $100bn Link
    BBC Business Wed 22 Jan 2020 21:25

    Tesla has displaced Volkswagen as the world's second most valuable carmaker, after a dramatic rise in share price pushed its market value to more than $100bn ($76.1bn).

    The milestone sets the stage for chief Elon Musk to collect billions in pay tied to hitting that target.

    Tesla's share price has more than doubled since October, when the firm reported a rare quarterly profit.

    Shares rose 4% on Wednesday, making its valuation second only to Toyota.

    Some analysts say the rise in price reflects the firm's performance in recent months, during which it has opened a factory in Shanghai and met its production goals.

  • Fender Europe fined £4.5m for preventing online discounts Link
    BBC Business Wed 22 Jan 2020 20:05

    Guitar maker Fender has been fined £4.5m for illegally preventing online discounts on its products in the UK.

    Fender Europe required sellers to set a minimum online price, breaking competition rules, the Competition and Markets Authority said.

    This meant that customers could not shop around for the lowest price, the regulator said.

    Fender said it cooperated with the investigation and has changed its practices.

    The company, founded in California in 1946, is famous for its guitars, which have been the choice of musicians ranging from Eric Clapton to Jimi Hendrix and David Gilmour.

  • PwC executive leaves firm after Dos Santos revelations Link
    BBC Business Wed 22 Jan 2020 18:30

    A top PWC executive has left the firm after revelations of PwC links with Isabel Dos Santos, who is under investigation for corruption.

    PWC declined to comment on the departure and says it has launched its own investigation.

    Ms Dos Santos, one of Africa's richest women, has said the allegations are a part of a political witch-hunt.

    The BBC reported how PWC helped Ms Dos Santos with auditing, consultancy and tax advice for her companies.

    Ms Dos Santos got access to lucrative deals involving land, oil, diamonds and telecoms when her father was president of Angola, a southern African country rich in natural resources.

  • RT @jonathanjosephs: ????? How do you turn thin air into water? Maxim Pasik of @Watergen_Inc has been telling @bbcaaron how their machines…
    BBC Business Wed 22 Jan 2020 17:40
  • This entrepreneur wants to replace plastic food packaging with a compostable alternative. @dougalshawbbc met her at the Davos summit #wef2020 #wef20 #sustainability More Davos coverage: Link https://t.co/Ol5dX9gV5B
    BBC Business Wed 22 Jan 2020 17:15
  • RT @BBCBusiness: 'You can't be at peak performance forever' Lloyds Bank CEO António Horta-Osorio is one of Britain's leading voices when i…
    BBC Business Wed 22 Jan 2020 16:40
  • Lloyds joins crowd with new 40% overdraft rates Link
    BBC Business Wed 22 Jan 2020 16:30

    The City regulator has stressed that seven out of 10 bank customers will be better off or unchanged as another big bank announces its new overdraft rates.

    Customers of Lloyds Banking Group will be charged "personalised" rates of up to 49.9% from April, but most will pay a rate of 39.9% to go into the red.

    The latter is the same rate as planned by many of the major High Street banks.

    The Financial Conduct Authority (FCA), which demanded changes from banks, said the new system was much simpler.

    "Customers at some large banks were charged effective arranged overdraft rates in excess of 80% per year once fees and charges are factored in," the FCA said.

  • RT @jonathanjosephs: ???? President Trump's threat of #tariffs on #EU cars will make it hard for the #USA to work with Brussels when it co…
    BBC Business Wed 22 Jan 2020 16:10
  • ‘If they can just get those doors open’ Melanie Hawke CEO of social enterprise Lionesses of Africa on overcoming hurdles to African women in business ? Link
    BBC Business Wed 22 Jan 2020 16:05

    The African continent has the highest concentration of female entrepreneurs in the world. But African women face more obstacles in their path to business success than men. So what can be done to unleash the potential of the continent's female entrepreneurs? Marie Keyworth went to the UK African investment summit to find out.(Image: Aisha Raheem/ Farmz2U. Credit: Royal Academy of Engineers)

  • In many countries, generations have grown up assuming they will be well looked after in old age - but it's becoming a challenge to meet that expectation Link
    BBC Business Wed 22 Jan 2020 15:05

    "I customarily killed old women. They all died, there by the big river. I didn't used to wait until they were completely dead to bury them. The women were afraid of me."

    No wonder. That's the account of a man from the Aché, an indigenous tribe in eastern Paraguay, as told to anthropologists Kim Hill and Magdalena Hurtado.

    He explained grandmothers helped with chores and babysitting but when they got too old to be useful, you couldn't be sentimental.

    Brutally, the usual method was an axe to the head. For the old men, Aché custom dictated a different fate. They were sent away - and told never to return.

    What obligations do we owe to our elders? It's a question as old as humankind.

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