Author: LoveWorld UK

The British currency held steady on Wednesday against the U.S. dollar and rose slightly versus the euro, as Brexit uncertainty kept traders on the sidelines. This week’s biggest scheduled event is Bank of England Governor Andrew Bailey’s speech at Jackson Hole on Thursday. Beyond that, analysts said there were few factors to provide direction for the currency. “Sterling price action for the remainder of the week will be almost exclusively determined by external developments, given a bare data calendar at home,” FX analysts at Scotiabank wrote in a note to clients. “It won’t get much better next week, when Markit…

British Prime Minister Boris Johnson said on Tuesday he was “really pleased” by the work done to get ready to reopen schools from next week, a test of his government after it failed to return all children to schools earlier this year. Johnson, whose Conservative government has come under fire for how it has tackled education during the coronavirus crisis, said it was “crucial” for all children to return to school and that he would look at medical evidence to see whether he should change the government’s advice on wearing face coverings. After his government was criticized for its handling…

Virgin Atlantic’s creditors will vote on a 1.2 billion pound rescue plan on Tuesday in a crucial test of the airline’s ability to survive in an industry devastated by the COVID-19 pandemic. Virgin Atlantic agreed the deal with shareholders and creditors in July to secure its future beyond the coronavirus crisis. The airline, which is 51% owned by Richard Branson’s Virgin Group and 49% by U.S. airline Delta (DAL.N), said it remains confident in the restructuring plan and is on track to finalize its solvent recapitalization in the first week of September. Tuesday’s vote of affected trade creditors includes nearly…

Liverpool coach Juergen Klopp has praised his Bayern Munich counterpart Hansi Flick following the Germans’ Champions League victory on Sunday that completed a treble-winning season. Bayern beat Paris St Germain 1-0 in Lisbon to add the Champions League trophy to their German league and Cup double. “It is a bit difficult to write more history in just eight months,” Klopp, whose team won the 2019 Champions League crown and this year’s Premier League title, told ZDF television. “Bayern have a sensational squad. They have world-class players in all positions, all at just the right age.” Flick took over struggling Bayern…

Sterling rose slightly on Tuesday as the dollar slipped and investors waited for Britain’s August retail sales data that analysts say could lift the pound further. The dollar fell after investors returned to riskier currencies as a successful phone call between top trade officials in the United States and China boosted positive sentiment. Sterling was last up 0.18% at $1.3089 versus the greenback. It was up 0.14% at 90.36 pence versus the euro. The Confederation of British Industry’s (CBI) monthly retail sales numbers for August are expected later on Tuesday and could lead to a “temporary boost” for the pound,…

German business morale improved more than expected in August as both manufacturing and services picked up steam, a survey showed on Tuesday, boosting hopes that Europe’s largest economy is set for a strong recovery following the massive coronavirus shock. The Ifo institute said its business climate index rose to 92.6 from a downwardly revised 90.4 in July. This was the fourth monthly increase in a row and came in better than economists’ expectations for 92.2. “The German economy is on the road to recovery,” Ifo President Clemens Fuest said in a statement, adding that firms assessed their current business situation…

Hong Konger Winnie Tong aims to move to Britain with her family in two years, but is stalling on plans to buy a house there after prices jumped almost 15% since April. The 40-year-old who used to be in two minds about leaving Hong Kong now wants to settle in Birmingham as she is concerned about an increasingly politicised environment for her young children. “Last year because of the anti-extradition law protests I wanted to migrate more, and it’s pretty much this year, because of the national security law that I’m determined to move.” Property agents said they sold more…

Vietnamese technology firm VNG is suing TikTok, the popular short-form video app, saying it does not have adequate licences for the songs being used in its videos, sources said on Monday. VNG is accusing the Chinese-owned company of using audio tracks owned by Zing, a VNG subsidiary, without the company’s consent, two sources familiar with the issue said. A legal document from the people’s court of Ho Chi Minh City seen by Reuters seeks damages from TikTok and demands that it ceases use of Zing’s music. “VNG requests TikTok remove all music segments taken from Zing records from both the…

Doctors at the Siberian hospital that first treated Russian opposition politician Alexei Navalny said on Monday that they had saved his life but that they had not found traces of poison in his system. Navalny, a long-time opponent of President Vladimir Putin, fell gravely ill on Thursday after what his allies believe was a poisoning and was airlifted to Germany for treatment on Saturday. “We saved his life with great effort and work,” head doctor Alexander Murakhovsky told reporters at a news conference in the Siberian city of Omsk. “If we had found some kind of poison that was somehow…

British Prime Minister Boris Johnson on Sunday called on parents to send their children back to school next month after the summer holidays, which he views as a key step to helping the country and its economy recover from the coronavirus lockdown. Johnson followed up on a warning over the weekend from medical advisers who said that students faced bigger risks from missing out on their education than from catching the virus. “The risk of contracting COVID-19 in school is very small and it is far more damaging for a child’s development and their health and well-being to be away…