Author: LoveWorld UK

Britons bought and sold a record number of homes between mid July and early August as pent-up demand from the coronavirus lockdown and a desire to leave London bucked the usual summer slowdown, industry data showed on Monday. Property website Rightmove, which says it is used by 90% of British estate agents, reported the highest number of home sales agreed since it began tracking the data more than 10 years ago, with transactions more than 20% higher than the previous record. The most recent figures from the Bank of England – which cover June, before July’s announcement of a tax…

The financial health of British households deteriorated in August at a faster pace than last month, in an unpromising sign for the economic recovery from the COVID-19 pandemic, a survey showed on Monday. The Household Finance Index from data company IHS Markit fell to 40.8 in August from 41.5 in July, dragged down by the biggest drop in job security since 2011. A wave of lay-offs is already underway and economists fear worse will come when the government’s furlough scheme closes at the end of October. Although economic output collapsed by a historic 20% in the second quarter of 2020,…

Britons rushed to get back from summer holidays in France on Friday after their government said it would soon impose a 14-day quarantine on travellers from across the Channel due to rising coronavirus infections. Britain’s government announced late on Thursday that it would impose a quarantine from 0300 GMT on Saturday on arrivals from France, giving an estimated 160,000 UK holidaymakers there just over 24 hours to try to get home to avoid isolating. The sudden rule change dealt a fresh blow to tourists, airlines and tour operators all hoping for holidays after the pandemic, which has left many travel…

Prime Minister Boris Johnson ordered the reopening of the economy in England to resume, saying a rise in infections that prompted caution two weeks ago had now levelled off, but warning of harsher punishment for those who breach the remaining rules. Last month, amid rising case numbers, Johnson said there was “a warning light on the dashboard” and paused the reopening of casinos, bowling alleys and skating rinks just hours before they opened their doors. He said that phase of his reopening plan can now go ahead. “Today, we are able to announce some further changes which will allow more…

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Britain has no choice but to impose a 14-day quarantine on all travellers arriving from France due to rising coronavirus infection rates there, transport minister Grant Shapps said on Friday. Britain announced late on Thursday that it would impose a quarantine, from 0300 GMT on Saturday, on arrivals from France, the Netherlands and Malta because infection rates there were too high, dealing a new blow to the travel industry. France warned that it would reciprocate. On Friday Shapps said he sympathised with travellers but that they should not be entirely surprised, given the fluid situation around the pandemic. “It’s a…

British airline easyJet (EZJ.L) said it would continue to assess further funding opportunities after raising an extra 203.6 million pounds from the sale and leaseback of aircraft, as the pandemic continues to wreak havoc on travel and its finances. EasyJet has spent recent months strengthening its balance sheet after COVID-19 halted travel, and while flying has restarted, the pandemic is still causing restrictions with the UK adding France to its quarantine list on Thursday. By deterring Britons from flying to France, a major holiday destination which joins top destination Spain on the list, easyJet could be forced to cancel more…

Google said on Friday it would no longer provide data in response to requests from Hong Kong authorities following the enactment of a new national security law imposed by China. The U.S. tech giant had not produced any data since the sweeping new law took force in June and would not directly respond to such requests henceforth, it added. “As always, authorities outside the U.S. may seek data needed for criminal investigations through diplomatic procedures,” Google said in an emailed statement. Google reviewed all requests for user data and pushed back on “overly broad ones” to protect the privacy of…

The rebound in Britain’s housing market gathered more pace in July with a measure of property prices turning positive for the first time since the coronavirus crisis engulfed the country, a survey showed on Thursday. But the Royal Institution of Chartered Surveyors (RICS) said its members were worried the mini-boom could turn into a bust once the government’s jobs subsidy programme closes in less than three months’ time and a tax cut expires at the end of March. The RICS monthly house price balance rose to +12 from June’s -13, above all forecasts in a Reuters poll of economists. London…

Lenovo Group (0992.HK), the world’s biggest PC maker, smashed expectations with a 31% leap in first-quarter net profit, as the coronavirus pandemic spurs businesses to shift to remote work and schools to switch to online learning. Consumers stuck at home are also spending more on PCs and other smart devices for entertainment purposes, the Chinese giant said. Net profit came in at $213 million (163 million pounds) for the April-June quarter, nearly double market estimates while revenue grew 7% to $13.3 billion. In particular, China sales surged, climbing 17% while those in Europe, the Middle East and Africa jumped 28%.…