Author: LoveWorld UK

French President Emmanuel Macron and German Chancellor Angela Merkel will present a new Franco-German initiative later on Monday, Macron’s office said in a surprise statement. The two leaders will hold a video-conference at 1330 GMT, which will be followed by a news conference around 1500 GMT, the Elysee palace statement said. It gave no details on what the new initiative might entail, but a source close to Macron told Reuters it would touch on public health, economic recovery, green and digital transition, and industrial sovereignty. France and Germany have struggled to present a united front in the coronavirus crisis, with…

A New Yorker columnist at the weekend asked the question that might have been on quite a few people’s minds: have stock market investors lost their minds? Britain’s rail network started running more services on Monday, raising concerns that more people will start to use trains which could lead to crowding at stations and onboard amid the novel coronavirus outbreak. Network Rail, the country’s state-owned infrastructure operator, said that it will introduce around 3,000 more trains per day on Monday but that social distancing means that capacity is constrained to about 10 to 13% of normal levels. Train operators have…

Britain should set up “travel bubbles” with low-risk countries to allow the movement of people, instead of bringing in new coronavirus quarantine rules when flights restart, according to Heathrow Airport. British government ministers have said they plan a 14-day quarantine for most people arriving in the country in the coming weeks to try to prevent a second peak of the pandemic. Airlines have warned the policy will throttle hopes for a travel recovery. Heathrow Airport, which before the novel coronavirus grounded planes was the busiest in Europe, said that it had been working with the UK government’s Department for Transport…

The number of Britons visiting shops collapsed in April as the economy shut down to stem the spread of the coronavirus, a survey showed on Monday. The British Retail Consortium trade body and retail data firm ShopperTrak said footfall — the number of people visiting stores — dropped 84.7% year-on-year. “Lockdown has dramatically cut footfall traffic across retail locations, with the majority of physical stores closed to the public,” Helen Dickinson, BRC chief executive, said. “The fall has been slightly less dramatic in retail parks where a high proportion of supermarkets and other essential stores have remained open, slightly mitigating…

Worker welfare is having a moment on Wall Street. The need to restart production lines and reopen offices idled by the coronavirus pandemic mean issues such as sick pay and working conditions are suddenly a top priority for the C-suite and, for some investors, a golden opportunity to apply the principles of ethical investing. Buying into companies based on environmental, social and governance (ESG) factors was growing in popularity before the virus started spreading. But the focus was largely on how companies were dealing with climate change and overly generous executive pay – the E and G – rather than…

Chief Executive Rico Back stood down on Friday after two years in charge marked by battles with unions over a proposed 1.8 billion pound restructuring plan for the former UK postal monopoly. The company said Back, who founded and ran Royal Mail’s German arm GLS for almost three decades before taking over as group chief executive in 2018, had agreed with the board to step down with immediate effect and would leave the firm on Aug. 15. Non-executive chairman Keith Williams will act as interim executive chair of Royal Mail Group until a permanent CEO is appointed, the company said.…

How quickly things change in markets. After the euphoria of April, world stocks are on track for their biggest weekly loss since mid-March, when the coronavirus-linked rout was in full swing. The dollar has gained half a percent this week against a basket of currencies, gold has risen 2% and Treasury yields are down six basis points. But on the last day of the week, the mood has swung around again, with MSCI’s global index up 0.3%. European markets are enjoying rises of 1% to 2%. Travel and leisure are up 3% and banks, which plumbed record lows yesterday, have bounced 1%.…

Talks between Britain and the European Union on their new trade relationship made little progress this week, sources with the bloc said on Friday, with persistent differences on key areas weighing on chances for a deal by the end of the year. That is when Britain is due to leave its status-quo transition period after exiting the EU earlier this year and both sides are now locked in talks on new cooperation rules from 2021 from trade to fisheries to security. “Both sides agreed to disagree,” said one diplomat following Brexit in the EU hub Brussels as the penultimate round…

London’s transport operator, which has seen passenger numbers collapse due to coronavirus, said it had secured 1.6 billion pounds in government funding for cover a shortfall in revenue until October. Transport for London (TfL), which runs the city’s red double-decker buses and underground Tube trains among other services, said it had lost more than 90% of its revenue from fares and advertising on its network since lockdown. Measures imposed in March have restricted people’s movements with businesses shut and many people working from home. TfL said demand had declined steeply, with journeys on London Underground down 95% and on London…

Tesla Inc (TSLA.O) is a leader in electric vehicle battery technology, but the company doesn’t do all its own research. Tesla Chief Executive Elon Musk has reached out to battery experts clustered at Dalhousie University in Halifax, Nova Scotia. Tesla in 2016 agreed to fund a group of scientists led for the past 24 years by Jeff Dahn, a pioneer in lithium-ionbattery development. The work with Dahn’s team is now playing a key role in Tesla’s plans to introduce a new low-cost, long-life battery in its Model 3 sedan in China by early next year, Reuters reported on Thursday. The…