Author: LoveWorld UK

As many automakers bet on sedans and SUVs in the switch to electric vehicles (EV), Japan’s Honda Motor Co Ltd (7267.T) has decided smaller is better for its first-ever all-battery car. The Honda e, released in Europe earlier this month, is a compact model meant solely for city driving. That contrasts with Tesla Inc (TSLA.O), whose Model 3 sedan dominates the battery EV market, and others such as Audi AG (NSUG.DE) and Hyundai Motor Co (TSLA.O) that have focused on SUVs with long driving ranges. High battery costs have kept EVs at the premium end of the car market, and…

British online supermarket and technology group Ocado (OCDO.L) said on Thursday Duncan Tatton-Brown would step down as chief financial officer after eight years in the role and be replaced by Rolls-Royce (RR.L) finance chief Stephen Daintith. The company said Tatton-Brown, who is stepping down due to family circumstances, would continue as CFO until Nov. 22 after which he would be a non-executive director of three Ocado units. “Ocado now has the financial capital required to take advantage of the global acceleration of online channel shift,” said Tatton-Brown, whose tenure with Ocado has seen the company’s share price shoot up more…

TikTok Chief Executive Officer Kevin Mayer has left short video app firm just three months since joining – and days after TikTok sued the administration of U.S. President Donald Trump over an executive order banning transactions with it in the country. He will be replaced by U.S. General Manager Vanessa Pappas on an interim basis, TikTok said. Mayer was Walt Disney Co’s (DIS.N) top streaming executive before joining TikTok on June 1. He was also appointed as chief operating officer of TikTok’s Chinese parent ByteDance. “In recent weeks, as the political environment has sharply changed, I have done significant reflection…

Britain will pay low-income residents to self-isolate if they have confirmed or suspected coronavirus as the government steps up measures to keep the virus under control. The new policy comes after opposition politicians called on the government to introduce the payments amid concerns that some people who cannot not afford to take time off work were avoiding complying with the health advice. The government said individuals who test positive for the virus will receive 130 pounds for their 10-day period of self-isolation. Other members of their household, who have to self-isolate for 14 days, will be entitled to 182 pounds.…

Major international banks may still pay out big bonuses to high flyers this year even as the pandemic saps the global economy, as fears of losing talent to rivals during a trading boom trump worries of a big compensation bill. While the likes of HSBC HSBC.L and Deutsche Bank (DBKGn.DE) are making redundancies to trim costs, other banks are taking a more relaxed approach to job, salary and bonus cuts across their workforces, remuneration consultants say. A poll in June of 75 financial firms by Pearl Meyer, a global remuneration consultant, showed 63% have neither made nor contemplated changes to…

Captain Lionel Messi has told Barcelona he wishes to leave the club immediately, a source confirmed on Tuesday, deepening the turmoil within the Catalan side less than two weeks after their humiliating 8-2 defeat by Bayern Munich. The source said the club received a burofax from Messi’s lawyers declaring that the player, who has spent his entire career at Barca, wished to leave. A burofax is a service used in Spain to urgently dispatch a document through a certified email, which issues a digital certificate with legal validity. The club subsequently sent Messi a burofax, stating they wanted him to…

First lady Melania Trump offered sympathy for victims of the coronavirus pandemic and a plea for racial understanding in a Republican convention speech on Tuesday aimed directly at the women voters who have abandoned U.S. President Donald Trump. Trump’s wife acknowledged the pain of the pandemic in sharp contrast to most other speakers at the party’s national convention, notably her husband, assailed by Democrats for his lack of solace during a U.S. health crisis that has killed more than 178,000 people. “I want to acknowledge the fact that since March, our lives have changed drastically,” Melania Trump told a crowd…

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…