BBC News Business

Top Stories

Features & Analysis

Watch/Listen

Special reports

Latest Updates

Huddersfield Town kit: Terriers prepared for criticism
Huddersfield Town commercial director Sean Jarvis tells BBC Look North the club were prepared for criticism after wearing a spoof kit in a pre-season friendly.

US stock indexes get tech share boost

Wall Street trader
Getty Images

US stock indexes are on the up as solid results from Microsoft lift tech stocks and added to an upbeat mood following signs from New York Fed President John Williams that the central bank would lower interest rates this month.

Microsoft, America's most valuable company, gained 2.2% as strength in its cloud business helped it beat analysts' estimates at the end of a week of mixed corporate results.

The Dow Jones Industrial Average was up 54 points at 27,278, and the S&P 500 was up 4 points at 2,999. The Nasdaq Composite was up 22 points at 8230.

Less room to spend for UK's new PM

ING’s Chief International Economist tweets

UK to further postpone Huawei decision

Huawei
Getty Images

The UK government will publish the results of a telecoms supply chain review next week without a decision on the use of equipment made by China's Huawei in future 5G networks, Reuters reports.

MPs said the government needs to make a decision on Huawei as "a matter of urgency" and continued delays were damaging international relations.

In a way, the UK is caught between two fires - China has said not using Huawei kit for 5G "sends a bad signal", while the US has blacklisted the firm over security concerns.

Britain's National Security Council, chaired by outgoing Prime Minister Theresa May, met to discuss the issue in April and a decision was made to block Huawei from all critical parts of the 5G network over security concerns, but still allow it restricted access to less sensitive parts.

The final decision on Huawei was then supposed to have been made public in a review of the telecoms supply chain led by the Department for Digital, Culture, Media and Sport, but Mrs May's decision to step down has stalled the process.

The government plans to publish the results of the review as soon as Monday, Reuters reports, but the section on 5G equipment vendors would be "kept back" for a decision to be made by the next prime minister.

A government spokesman said the results of the review would be "announced in due course" and all network operators would have to comply with the decision.

Homebase 'to buy' Bathstore

man measuring up wall
Bathstore

Homebase is going to buy Bathstore weeks after the bathroom chain collapsed into administration.

That's according to the Daily Telegraph which says talks over a deal are expected to be finalised over the weekend.

Administrators BDO were appointed in June and the 135-strong chain was kept open to find a buyer.

BDO did not comment to the Daily Telegraph.

Rebellion over pay at Homeserve

boiler
Getty Images

Almost a third of investors (30.68%) have voted against pay at home repairs and improvements business Homeserve.

After its annual general general meeting (AGM), Homeserve said that proxy voting agency Institutional Shareholder Services (ISS) had recommended voting against the remuneration report because of payments to former directors Martin Bennett and Johnathan Ford.

"HomeServe acknowledges that their departures were announced in advance of their respective exit dates (and therefore before the start of their notice periods) but considers that the action taken helped facilitate an orderly handover of responsibilities.The termination payments made were in accordance with HomeServe's remuneration policy," it said.

It said it would consult with shareholders ahead of the 2020 AGM and publish an update within six months.

Mr Bennett left the board on 20 July 2018 and Mr Ford on 31 December 2018.

Mr Bennett got a £427,000 salary, a £292,000 bonus and is in line for long-term bonuses worth £2.8m based on performance conditions while Mr Ford had a £424,000 salary, a £292,000 bonus and could get long-term bonuses of £2.5m.