Author: LoveWorld UK

Britain must send “clear signals” that it wants to seal a deal with the European Union on their relationship after Brexit, the bloc’s chief negotiator said ahead of more talks with London, adding a deal was still possible before the end of the year. Michel Barnier said Britain had so far not engaged with tentative openings floated by the EU side on state aid and fisheries in the previous negotiating rounds, which have mostly been held on video calls due to coronavirus safety restrictions. “The ball is in the UK’s court,” Barnier told an online seminar on Wednesday. “I believe…

The Indian unit of the top consumer giant Unilever announced on Thursday that it would rebrand its skin-lightening cream ‘Fair and Lovely’, which has received considerable backlash for perpetuating negative stereotypes related to darker skin tones. Hindustan Unilever said it would drop the word ‘Fair’ from the product and added that a fresh name for the cream was awaiting regulatory clearances. “We are fully committed to having a global portfolio of skin care brands that is inclusive and cares for all skin tones, celebrating greater diversity of beauty. We recognise that the use of the words ‘fair’, ‘white’ and ‘light’…

Britain’s Royal Mail (RMG.L) laid out restructuring plans on Thursday that will affect around 2,000 management roles and see it save 130 million pounds in staffing costs next year as it reported a 31% fall in annual profits. The company, whose Chief Executive Officer Rico Back stepped down last month after a year of battles with unions over a 1.8 billion pound restructuring plan, said it was also cutting 300 million pounds in capital spending across the group over the next two years. It said it plans to carry out a three-step plan that will also include operational changes in…

EU state aid regulators approved on Thursday German carrier Lufthansa’s (LHAG.DE) 6-billion-euro (£5.4 billion) recapitalisation subject to a ban on dividends, share buybacks and some acquisitions until the state support is paid back. The European Commission said Germany also submitted a business plan to redeem by 2026 both the loan as well as the recapitalisation instruments, and pledged to work out an exit strategy within 12 months after the aid is granted, unless the state stake is reduced below 25% of equity by then. Germany will also have to come up with a restructuring plan for Lufthansa if it has…

Oil futures were mixed on Wednesday as concerns about oversupply in the market, stoked by an rise in U.S. crude inventories, were offset by a drop in gasoline stocks that lifted hopes for fuel demand recovery amid the re-opening of the global economy. Brent crude LCOc1 was up 12 cents, or 0.3%, at $42.75 a barrel by 0643 GMT after falling to $42.30 earlier in the session. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 1 cents to $40.34 a barrel, paring some of earlier losses. U.S. crude inventories rose by a much bigger than expected 1.7 million barrels…

Liverpool would prefer next week’s away fixture against Manchester City to be held at the Etihad Stadium and not moved to a neutral venue due to the COVID-19 situation, manager Juergen Klopp has said. Liverpool, who could potentially seal their first English league crown in 30 years against City next Thursday, are awaiting a decision from a safety advisory group on the venue. “Honestly, I would prefer it is at Manchester, otherwise it would be really difficult to organise it,” Klopp told reporters ahead of Wednesday’s league clash against Crystal Palace. Authorities could shift the game to a neutral venue…

Michele Berteramo, owner of the Movida restaurant and cocktail bar on Milan’s Naviglio Pavese canal, had been about to spend 40,000 euros ($45,270) on renovations when the new coronavirus pandemic struck northern Italy. Instead he burnt through the cash keeping his business afloat during lockdown. Movida reopened on May 18, but is struggling to break even as crowds stay away from the popular nightlife district. “We’ve been able to skip rent payments, but it can’t last forever … we are going to need bank financing to operate,” said the 46-year-old restaurateur. Berteramo has tapped Italy’s emergency government guaranteed loan scheme…

President Vladimir Putin will review a spectacular Red Square military parade later on Wednesday on the eve of a nationwide vote that could extend his rule until 2036, a patriotic display critics say is designed to lift his lower than usual ratings. The parade, to mark the 75th anniversary of the Soviet Union’s World War Two victory over the Nazis, was postponed from May 9 because of the novel coronavirus outbreak and critics say it is irresponsible to go ahead with it now. The Kremlin has dismissed that however, saying new daily infections, though still in the thousands, are on…

Britain’s supreme court will on Tuesday hear Nigerian farmers and fishermen appeal to pursue claims against oil major Shell (RDSa.L) over spills in the Niger Delta. The appeal re-opens the possibility for British multinationals to be held liable at home for their subsidiaries’ actions abroad. It comes after a setback in 2018 when a London court ruled that the claim could not be pursued in England. The Ogale and Bille communities allege that Shell’s oil operations have polluted their land and waters. They are seeking justice through British courts because cases heard in Nigeria can take decades to resolve, said…

Manchester City’s Phil Foden and Riyad Mahrez scored two goals apiece as the hosts showed their impressive strength in depth, making eight changes but still crushing a woeful Burnley 5-0 in the Premier League at The Etihad stadium on Monday. The result leaves second-placed City 20 points behind runaway league leaders Liverpool with eight games remaining and Juergen Klopp’s side cannot now clinch the title with a victory against Crystal Palace at Anfield on Wednesday. If City win at Chelsea on Thursday then Liverpool could secure their first league crown in 30 years against Pep Guardiola’s side in Manchester on…