Author: LoveWorld UK

West Ham United are losing 2 million pounds a match with spectators barred from attending games amid the COVID-19 pandemic, the Premier League club’s vice-chair Karren Brady has said. Fans have not been allowed to attend matches since England’s professional game restarted in June, leaving clubs in the lurch and lower league sides requiring a financial rescue package from the top flight. “It’s fatal for everybody. West Ham is losing 2 million pounds a match in lost ticket revenue and corporate revenue. Some clubs are losing as much as 10 million pounds a match,” Brady told the BBC. “You talk…

Sparkling Spain crushed hapless Germany 6-0 at home on Tuesday to storm into the final four of the Nations League in style as forward Ferran Torres scored a first career hat-trick. Germany were powerless to stop Luis Enrique’s relentless side as the visitors suffered their worst defeat in a competitive game and the most humiliating since losing by the same scoreline against Austria in a friendly in 1931. Alvaro Morata, Ferran and Rodri gave Luis Enrique’s side a 3-0 halftime lead, while Ferran struck again early in the second half and completed his treble with a classy finish. Substitute Mikel…

British insurer RSA RSA.L is backing a 7.2 billion pound cash offer from Canada’s Intact Financial IFC.TO and Denmark’s Tryg TRYG.CO in one of Europe’s biggest financial takeover bids this year. Insurers have become an attractive proposition since the coronavirus crisis despite reputational damage from disputes over business interruption claims, industry sources say. Home-working has led to fewer claims on home and motor insurance while commercial insurance rates have risen sharply. RSA’s directors backed the Intact-Tryg bid unanimously and recommended that shareholders vote in favour of the consortium’s offer, the company said on Wednesday, having first flagged the approach early this month. Best known in Britain…

Britain will ban the sale of new petrol and diesel cars and vans from 2030, five years earlier than previously planned, as part of what Prime Minister Boris Johnson is casting as a “green revolution” to cut emissions to net zero by 2050. Johnson, who is grappling with Europe’s most deadly COVID-19 crisis, Brexit trade negotiations and the departure of his most senior adviser, wants to underscore his green credentials as part of what he hopes will be a reset for his government. “Now is the time to plan for a green recovery with high-skilled jobs that give people the…

Tesla Inc TSLA.O is set to join the S&P 500 in December, a major win for Chief Executive Elon Musk that boosted the electric car maker’s shares 14% on Monday in anticipation of a $51 billion (£39 billion) trade by index funds adjusting their holdings. S&P Dow Jones Indices announced that the company would join the S&P 500 index .SPX prior to the opening of trading on Dec. 21, potentially in two tranches making it easier for investment funds to digest. “(Tesla) will be one of the largest weight additions to the S&P 500 in the last decade, and consequently will generate one of…

Airbnb Inc’s initial public offering (IPO) registration showed on Monday that the home rental startup turned a profit in the third quarter despite the COVID-19 pandemic, as it gears up for one of the most anticipated stock market debuts in recent years. The filing, published ahead of Airbnb’s anticipated stock market debut in December, showed a dramatic recovery in its fortunes, after the coronavirus outbreak dragged down its core home rental business during the first half of the year. The slump forced it to lay off 25% of its workforce in May, suspend marketing activities for the year and seek…

Mercedes expect to start contract talks with Lewis Hamilton in the next few days now the Briton has clinched a record-equalling seventh Formula One world championship, team boss Toto Wolff has said. The 35-year-old Hamilton’s current deal ends next month. “Flying back from a seventh drivers’ championship, you can’t talk about a contract. It wouldn’t do justice to the achievement,” the Austrian told the BBC. “We’re going to give it a few days then we are going to talk about it.” Wolff told reporters jokingly after Hamilton won Sunday’s Turkish Grand Prix to clinch the title, and equal Ferrari great…

Major insurance companies told the UK Supreme Court on Monday that thousands of small companies battered by the coronavirus pandemic were not eligible for business interruption payouts and to suggest differently was “reverse engineering”. On the first day of a four-day appeal of a test case brought by Britain’s Financial Conduct Authority (FCA) against insurers, industry lawyers told top judges that businesses could not claim for losses stemming from nationwide lockdowns to curb the virus. Gavin Kealey, a lawyer for insurer MS Amlin, said that only business losses related to COVID-19 infections within a 25-mile radius of insured properties were…

Britain will consider its options to help repair the country’s public finances, housing minister Robert Jenrick said on Tuesday, after media reports that ministers were considering a temporary cut to its aid spending. The Times newspaper said the government had drawn up plans to reduce the proportion of Britain’s gross national income spent on aid from 0.7 percent to 0.5 percent to make savings after spending hundreds of billions to fight COVID-19. Asked whether the government would make the cut on aid, Jenrick told LBC radio: “The Chancellor (finance minister) will have to think very carefully about whether this is…

Fifteen Asia-Pacific economies signed what could become the world’s largest free trade agreement on Sunday, covering nearly a third of the global population and about 30% of its global gross domestic product. The Regional Comprehensive Economic Partnership (RCEP) will progressively lower tariffs and aims to counter protectionism, boost investment and allow freer movement of goods within the region. WHO HAS SIGNED? RCEP includes China, Japan, South Korea, Australia, New Zealand and the 10 members of the Association of South East Asian Nations (ASEAN): Brunei, Vietnam, Laos, Cambodia, Thailand, Myanmar, Malaysia, Singapore, Indonesia and the Philippines. India was involved in early…