Dollar falls after Trump lashes out at Federal Reserve - business live (1 hour 18 minutes old)

US currency slips after comments from president, who also slams China and Europe as currency manipulators 8.32am BST Back with Trump and his comments on the Fed, Michael Hewson, chief market analyst at CMC Markets UK, said: Two months before he was elected President of the United States in September 2016, Donald Trump said Fed chair Janet Yellen should be “ashamed of herself” for keeping interest rates low and creating a “false stock market” saying that the central bank’s policies were hurting savers and pension plans.It therefore seems rather strange that he should now be criticising the curr[...]

House of Fraser's Oxford Street store saved from closure (1 hour 19 minutes old)

Mike Ashley’s Sports Direct strikes deal to keep store open despite collapse of chainHouse of Fraser’s flagship store on Oxford Street in central London has been saved from closure.The key site had been due to close under a company voluntary arrangement (CVA) announced by the troubled department store chain in June, before it went into administration. Continue reading...

Liam Fox's target for post-Brexit exports is wishful thinking | Larry Elliott (9 hours old)

The UK increasing overseas sales to 35% of GDP is a nice idea but too few British firms are onsideThe timing of the government’s latest export drive is far from accidental. With Theresa May intent on showing Brussels that Britain could not just survive but thrive in the event of a hard Brexit, Whitehall has come up with a plan for increasing the amount of goods and services sold overseas.This is by no means the first attempt to broaden the horizons of UK plc. Back in 2015, the aim was to double exports to £1tn a year by 2020. That always looked a stretch and the target was dropped by the inter[...]

Persimmon profits rise 13% despite housing market slowdown (1 hour 19 minutes old)

Housebuilder boosted by help-to-buy scheme and competitive mortgage dealsHousebuilder Persimmonhas reported that its profits rose by 13% in the first half of 2018, boosted by the government’s help-to-buy scheme and comptetitive mortgage deals.Pretax profits jumped to £516m from £457m in the six months to 30 June, and Persimmon said it expected further growth in the second half of the year, bucking the wider trend of a slowing UK housing market. Continue reading...

Investors betting against Tesla made $1.09bn since Elon Musk's tweet (1 hour 50 minutes old)

Musk tweeted on 7 August that he had ‘secured’ funding to take the company private, but so far no offer has been madeInvestors betting on a fall in Tesla’s share price have made $1.09bn since 7 August, when Tesla founder Elon Musk tweeted he had “secured” funding to take the troubled company private.The electric car company’s soared 11% to $379 after Musk’s so-called “Tesla tweet” that he had “funding secured” to buy out investors at $420 share. But that tweet – now the subject of legal action and a regulatory inquiry – so far has not led to an offer and Tesla’s stock has fallen 19% to $308 sh[...]

UK households face hidden debt of almost £19bn – Citizens Advice (9 hours old)

Missed bill payments and benefit repayments overtake credit cards as key money worryBritish households owe almost £19bn in utility bills, missed council tax payments and overpaid benefits, according to figures revealing a hidden debt mountain facing the country.Putting an estimate on the overall amount owed by people falling behind on essential bills for the first time, the estimate from Citizens Advice comes as UK households are under increasing financial pressure. The charity said missed bill payments had overtaken credit card troubles as the key money problem faced by consumers. Continue re[...]

Pepsi to buy SodaStream for $3.2bn in shift to health-conscious drinks (18 hours old)

Pepsi said the transaction, which is expected to close by January 2019, is another step in bid to promote wellnessPepsi will buy household drink-machine maker SodaStream for $3.2bn as it battles chief rival Coca-Cola for an edge in the health-conscious beverage market. Founded in the UK in 1903, SodaStream was a coveted device in British kitchens in the 1970s and 80s, allowing customers to create fizzy drinks by adding flavoured syrups to carbonated water, but it faded in popularity as soft drinks became cheaper. Continue reading...

EU says Greece can 'finally turn the page' as bailout ends (20 hours old)

‘The worst is over’ after eight very difficult years for the country, commissioner saysGreece has turned the page to become “a normal” member of the single currency, European Union authorities in Brussels declared as the country finally exited its eight-year bailout programme.Its three bailouts during the eurozone crisis totalled €288.7bn (£258bn) – the world’s biggest-ever financial rescue. During that time, as the crisis threatened to lead to the nation’s ejection from the single currency – “Grexit” – Greece has had four governments and endured one of the worst recessions in economic history[...]

14m bolivars for a chicken: Venezuela hyperinflation explained (18 hours old)

As South American country faces soaraway prices, what is hyperinflation and why is it bad for the economy? Venezuela is introducing economic reforms including new banknotes that lop five zeros off its fast-depreciating currency as the country battles hyperinflation.Banks will close on Monday as they prepare to release the new “sovereign bolívar” amid warnings from International Monetary Fund economists that Venezuela’s inflation rate could exceed 1,000,000% this year. Continue reading...

Countrywide scraps bosses' £20m pay plan after investor revolt (1 day old)

Estate agency group operates under brands including Hamptons and Bairstow EvesCountrywide has scrapped a pay plan that could have handed its top executives more than £20m after a shareholder revolt.Earlier this month the beleaguered estate agent group, which has nearly 10,700 staff and operates under about 50 brand names including Hamptons International and Bairstow Eves, was forced to ask investors for £140m in emergency funds to save it from collapsing under the weight of its debt. Continue reading...

BT investors call on next boss to consider break-up of business (16 hours old)

Shareholders push for spinning off broadband arm Openreach

BT Group: break chance (19 hours old)

Some couples stay together both by preference and necessity

Rural superfast broadband rollout generates £9bn, says report (1 day old)

Subsidy programme connects 5m UK homes and businesses

CK Hutchison takes stake in suburban fibre optic start-up (4 days old [16/08/18])

Nuron robot deploys cables in water and waste pipes that are harder to access

Australia’s Telstra flags tough times ahead as profit drops (5 days old [16/08/18])

RCom sale talks mark end of an era for younger Ambani (5 days old [15/08/18])

Deal would seal formal exit by Indian tycoon from telecoms sector

Lebara owners miss equity injection deadline (5 days old [15/08/18])

O2 in deal with revolutionary LiFi company (5 days old [15/08/18])

Technology uses light as data transmitter and ‘paves way’ for 5G in the UK

Proposed Huawei ban seen hitting Australian 5G push (7 days old [13/08/18])

Block on Chinese company may raise costs, delay rollout and cause market ‘chaos’

Europe’s telecoms landscape warms to ‘maverick’ operators (8 days old [12/08/18])

Regulators are showing themselves increasingly open to allowing more competition

Microsoft says Russian hackers targeting US political groups (4 hours old)

Tech company warns of more potential attacks ahead of November midterm elections

Farfetch: clue is in the name (15 hours old)

Luxury retailers are meant to be costly, but online aggregator is running at a loss

JPMorgan cuts Tesla target over lack of buyout funding (15 hours old)

Analyst drops valuation to $195 a share on conclusion financing was not ‘secured’

Computer scientists struggle to build robots who get the joke (20 hours old)

Appreciating humour may be vital for future co-operation between humans and machines

Haldane warns AI threatens lengthy widespread unemployment (1 day old)

Bank of England economist says disruption will be more intense than industrial revolution

Apple culls apps in China after state media criticism (1 day old)

iPhone maker drops gambling apps amid accusations of failing to filter illegal material

Apple culls thousands of apps from China store (1 day old)

How AI can spot exam cheats and raise standards (1 day old)

Technology is helping to fight fraud, improve marking systems and support teachers

Brussels to act against tech groups over terror content (1 day old)

Threat of fines after commission sees insufficient progress on voluntary action

Is this peak Musk? (3 days old [18/08/18])

Google’s searching questions, Facebook’s rule book, smartphone addiction cures