Author: LoveWorld UK

British retailer Marks & Spencer (MKS.L) said it would accelerate its latest turnaround programme as it dealt with the fallout from the coronavirus crisis and a 21% fall in annual profit. When the pandemic hit, M&S, whose shares are down 66% over the last year, was already in the midst of another attempt at re-invention after more than a decade of failed revivals. On Wednesday it said its “never the same again” programme would draw on learning from the crisis and capitalise on the opportunities to drive its transformation plan in a changed consumer environment. M&S said accelerated priorities include…

Just over a third of companies in Britain believe they can fully restart operations while implementing the government’s coronavirus workplace guidance, a survey showed on Wednesday. The British Chambers of Commerce said 45% of firms it questioned felt they would be able to partly reopen and 10% said they would not be able to operate at all, mostly citing problems with social distancing. The BCC’s director general, Adam Marshall said some sectors still needed clarity from the government on when and how they will be allowed to restart. “This is particularly the case for hospitality and leisure companies, which will not reopen before…

Johnson & Johnson (JNJ.N) on Tuesday announced it would stop selling its talc Baby Powder in the United States and Canada, saying demand had dropped in the wake of what it called “misinformation” about the product’s safety amid a barrage of legal challenges. J&J faces more than 19,000 lawsuits from consumers and their survivors claiming its talc products caused cancer due to contamination with asbestos, a known carcinogen. Many are pending before a U.S. district judge in New Jersey. “I wish my mother could be here to see this day,” said Crystal Deckard, whose mother Darlene Coker alleged Baby Powder…

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Oil prices rose for a fourth straight session on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic. Brent crude climbed 25 cents, or 0.7%, to $35.06 a barrel by 0629 GMT, after earlier touching its highest since April 9. U.S. West Texas Intermediate crude was up 43 cents, or 1.4%, at $32.25 a barrel. It rose as high as $33.44 earlier in the session, hitting its highest since March 16. The June WTI contract expires on Tuesday, but there…

The United Kingdom announced a new post-Brexit tariff regime on Tuesday to replace the European Union’s external tariff, maintaining a 10% tariff on cars and levies on agricultural products such as lamb, beef, and poultry. The British government said the new regime, known as the UK Global Tariff (UKGT) here would be simpler and cheaper than the EU’s Common External Tariff (EU CET). Britain left the EU at the end of January, but will follow the EU’s tariff programme this year during a transition due to end on Dec. 31, 2020. The new tariff regime will be in pounds sterling and will…

Defectors from Emmanuel Macron’s ruling party announced the creation of a new group in France’s lower house of parliament on Tuesday, depriving the president of an outright majority and raising pressure for more left-wing policies. Seven lawmakers are splintering from Macron’s La Republique En March (LREM) party to joint the new “Ecology, Democracy, Solidarity” (EDS) group, which said it would initially count 17 parliamentarians in its ranks. That means the LREM now only has 288 MPs, one short of the 289-threshold needed for an absolute majority in parliament, and down from the 314 Macron had after he dynamited the political…

A measure of the number of people claiming unemployment benefits in Britain leapt to its highest level since 1996 in April, the first full month of the government’s coronavirus lockdown, data published on Tuesday showed. The claimant count rose by 856,500 — the biggest ever month-on-month jump — to 2.097 million, a 69% increase, the Office for National Statistics said. The surge would have been even sharper without a government programme to pay 80% of the wages of workers put on temporary leave by their employers, who do not count towards the unemployment total. The ONS said emergency changes to…

U.S. President Donald Trump threatened on Monday to permanently halt funding for the World Health Organization (WHO) if it did not commit to improvements within 30 days, and to reconsider the membership of the United States in the body. Trump suspended U.S. contributions to the WHO last month, accusing it of promoting China’s “disinformation” about the coronavirus outbreak, although WHO officials denied the accusation and China said it was transparent and open. “If the WHO does not commit to major substantive improvements within the next 30 days, I will make my temporary freeze of United States funding to the WHO…

Pope Francis inaugurated the full reopening of St. Peter’s Basilica on Monday and Catholic churches held public Masses for the first time in two months in the latest easing of Italy’s coronavirus restrictions. Francis said a private Mass in a side chapel where St. John Paul II is buried to commemorate the 100th anniversary of the late Polish pope’s birth. The basilica, which on Friday underwent a sanitising to make it as cornavirus-free as possible, later opened to the public for Masses by priests on other side altars after the pope had left. Signs in English and Italian told those…