Author: LoveWorld UK

British Prime Minister Boris Johnson lashed out at the European Union on Monday as he won initial approval for a plan to breach the Brexit treaty, saying the move was needed because the bloc had refused to take a “revolver off the table” in trade talks. Johnson won the so-called second reading parliamentary vote on the Internal Market Bill 340 to 263. A wrecking amendment was defeated shortly beforehand, though more will follow as he faces a growing rebellion in his party. The EU says Johnson’s bill would collapse trade talks and propel the United Kingdom towards a messy Brexit…

The European Union is set to delay a decision on allowing City of London clearing houses to continue clearing euro transactions for EU-based clients due to concern over Britain’s plan to breach its Brexit divorce settlement, a derivatives industry source said on Monday. Brussels had already said it would grant Britain “time-limited” access to euro clearing from January to avoid huge disruption to markets as a unit of the London Stock Exchange LSE.L clears the bulk of euro-denominated swaps that are widely used by companies. The bloc’s executive European Commission was due to formally take the decision on access later this week,…

Frank Lampard says he was “amused” by Juergen Klopp’s comments on Chelsea’s transfer spending and that Liverpool’s heavy expenditure in previous years had laid the foundations for last season’s Premier League title triumph. Chelsea, owned by Russian billionaire Roman Abramovich, have spent around 200 million pounds ($256.36 million) to bring in Timo Werner, Kai Havertz, Hakim Ziyech and Ben Chilwell. Klopp, who has only signed left-back Konstantinos Tsimikas from Olympiakos Piraeus this season, said Liverpool would not be spending a similar amount as they were a “different kind” of club, one “not owned by countries or an oligarch”. “I found…

Amazon.com Inc on Monday said it is recruiting 100,000 more workers – the fourth hiring spree it has announced for the United States this year – to keep pace with e-commerce demand that jumped during the pandemic. The world’s biggest online retailer said the positions are for full and part-time work in its home country and Canada, and these will include roles at 100 new warehouse and operations sites it is opening this month. The Seattle-based company employed 876,800 people as of June 30, excluding contractors and temporary personnel. The news reflects Amazon’s constant need for labor to pick, pack…

Europe’s largest economy is set to continue recovering from the coronavirus crisis in the remainder of 2020 and will likely grow strongly in the third quarter but it probably will not reach its pre-crisis level until 2022, the German Economy Ministry said. The trough of the recession was reached in the second quarter and the easing of lockdown measures since May led to a rapid recovery in industry and in some service sectors, the ministry said in its monthly report on Monday, adding that the revival has lost some steam lately though. “The German economy is continuing to pick up,…

Deutsche Telekom and France’s OVHcloud plan to build a new cloud computing offer for European companies and public sector entities deemed of strategic importance, the two companies said on Monday. The Franco-German partnership is the first attempt to offer a European alternative to Amazon, Microsoft and Google in cloud computing, a business expected to grow by 6.3% in 2020 to $257.9 billion, according to research firm Gartner, as many people work from home due to pandemic lockdowns. The three U.S. companies had a combined worldwide market share of 60% in the second quarter, according to market research. This dominance has…

Japanese Chief Cabinet Secretary Yoshihide Suga, a loyal aide to outgoing Prime Minister Shinzo Abe, won a landslide victory in a ruling party leadership election on Monday, paving the way for him to replace Abe this week. Suga, 71, who has said he will pursue Abe’s key economic and foreign policies, won 377 votes out of 534 votes cast, and 535 possible votes, in the Liberal Democratic Party (LDP) election by the party’s members of parliament and representatives of its 47 local chapters. Rival Shigeru Ishiba, a former defence minister, won 68 votes and ex-foreign minister Fumio Kishida got 89.…

British Prime Minister Boris Johnson’s plan to break international law by breaching parts of the Brexit divorce treaty with the European Union faces a vote in parliament on Monday amid growing opposition from within his own party. The House of Commons will debate the Internal Market Bill, which the EU has demanded Johnson scrap by the end of September. After the debate, lawmakers will vote to decide if it should go to the next stage. That vote may come late. Johnson’s decision to explicitly break international law has plunged Brexit back into crisis less than four months before Britain is…

China and India said on Friday they had agreed to de-escalate renewed tensions on their contested Himalayan border and take steps to restore “peace and tranquillity” following a high-level diplomatic meeting in Moscow.Chinese State Councillor Wang Yi and Indian Foreign Minister S. Jaishankar met in Moscow on Thursday and reached a five-point consensus, including agreements that troops from both sides should quickly disengage and ease tensions, the two countries said in a joint statement. The consensus, struck on the sidelines of a Shanghai Cooperation Organisation meeting, came after a confrontation in the border area in the western Himalayas earlier this…

Deloitte announced on Friday that its UK audit operations will have a standalone board from January to meet new regulatory requirements aimed at improving industry standards after a string of company failures. Deloitte, one of the world’s “Big Four” accounting firms along with KPMG, PwC and EY, have all been told by their regulator, the Financial Reporting Council (FRC), to submit plans by October 23 to ring fence their UK audit arms. The aim of “operational separation” at Big Four accountants in Britain is to make them focus better on their work, be more challenging towards clients, and avoid conflicts…