Author: LoveWorld UK

The Bank of England is expected to signal on Thursday that it is getting ready to pump yet more stimulus into Britain’s economy as it heads for a jump in unemployment and a possible Brexit shock. The BoE has already cut interest rates to a record low 0.1% and ramped up its bond-buying programme to almost $1 trillion (771 billion pounds) to soften the impact of the coronavirus shock. It has enough firepower to keep buying bonds until the end of 2020, so investors are expecting only a signal of intent to do more at the end of its September…

Tottenham Hotspur are in talks with Real Madrid to re-sign winger Gareth Bale, his agent said on Tuesday, as the Wales international looks to end his troubled spell at the Spanish club. Bale made over 200 appearances for Premier League Spurs between 2007 and 2013, scoring 56 goals with 58 assists before his then world record move to Real for 100 million euros ($118.46 million). The 31-year-old has scored over 100 goals for the Madrid side and won numerous trophies, including four Champions League titles, but was give limited playing time under Zinedine Zidane towards the end of last season’s…

Amazon.com Inc’s main UK subsidiary, Amazon UK Services Ltd., paid just 6.3 million pounds ($8 million) in corporation tax in 2019 despite the group reporting over $17.5 billion in sales in Britain, accounts published on Wednesday show. Amazon said the low figure reflected the underlying condition of its UK business. “Corporation tax is based on profits, not revenues, and our profits have remained low given retail is a highly-competitive, low margin business and we continue to invest heavily,” the company said in a statement. Amazon does not publish its UK profits. British sales are reported largely through a web of…

British Airways is taking every measure possible to make it through the winter and does not expect a quick return to flying because passengers remain too scared to travel, its boss said on Wednesday. BA CEO Alex Cruz told a parliamentary select committee that the airline was running at 25 to 30% of its normal flight schedule, prompting it to cut thousands of jobs. “This is the worst crisis that British Airways has gone through in its 100 years of history,” he said. “We’re still fighting for our own survival. “We are taking every measure possible to make sure we…

Britain offered tentative concessions on fisheries in trade talks with the European Union last week, two diplomatic sources told Reuters, just as London was publicly threatening to breach the terms of its divorce deal with the bloc. The sources, who did not attend last week’s talks between the sides’ chief negotiators but were briefed on them by the EU negotiating team, described the offer as a possible bid by London to overcome a key obstacle to a new trade deal from 2021. They said it also suggested London might still be open to clinching an agreement despite a crisis in…

British Prime Minister Boris Johnson’s government sees a ‘way through’ the parliamentary maze for his bill that would break the Brexit divorce treaty as it talks with rebels in the Conservative Party, a minister said on Wednesday. Johnson’s Internal Market Bill, which the EU has demanded he scrap by the end of September, is currently being debated in parliament, though he is facing a rebellion by some members of his Conservative Party. “I believe there is a way through,” Robert Buckland told the BBC when asked about negotiations with rebels in parliament over the bill, adding that London wanted a…

Daimler AG DAIGn.DE will pay $2.2 billion (1.71 billion pounds) to resolve a U.S. government diesel emissions cheating investigation and claims from 250,000 U.S. vehicle owners, court documents show. The German automaker and its Mercedes-Benz USA LLC unit disclosed on Aug. 13 it had reached a settlement in principle resolving civil and environmental claims tied to 250,000 U.S. diesel cars and vans after the automaker used software to evade emissions rules. Daimler said in August expected costs of settlements with U.S. authorities would total $1.5 billion, settling with owners will cost another $700 million and also disclosed “further expenses of a mid…

Britain’s unemployment rate rose for the first time since the coronavirus lockdown began in March, sending a warning signal ahead of an expected surge in job losses when a huge government job subsidy programme expires next month. The unemployment rate increased to 4.1% in the three months to July from the 3.9% it had clung to since early 2020, in line with the median forecast in a Reuters poll of economists. The government’s coronavirus job subsidy scheme has shielded millions of workers and there were fewer job losses than feared in the figures published on Tuesday. Redundancies increased by 48,000…

Chelsea got their Premier League campaign on track after 20-year-old right-back Reece James helped them to a 3-1 win at Brighton & Hove Albion with a spectacular goal on Monday. New signings Timo Werner and Kai Havertz made their debuts up front after the German internationals joined Frank Lampard’s side from the Bundesliga during the close season. But it was James who gave the visitors a 2-1 lead with a thunderbolt into the top corner from 25 metres before a deflected shot by central defender Kurt Zouma sealed the points. “It was a hard game after 1-1 but then Reece…

Traffic picked up in cities across the globe as the summer season ended and schools opened, giving a boost to fuel demand, but the prospect of recovery remained weak as many commuters still worked from home and vehicle sales were down. The reliance on isolated forms of travel including private cars seemed to be the main factor boosting demand, analysts and traders said, as most people avoided public transport for fear of the coronavirus. Road traffic in New York, London and Paris was on a slow but steady recovery, data provided to Reuters by location technology company TomTom showed. In…