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U.S. House passes bill to sanction Chinese banks over Hong Kong
The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement a national security law that House Speaker Nancy Pelosi called a "brutal, sweeping crackdown" on Hong Kong.The measure passed by unanimous consent, reflecting concern in Washington over China's enactment of a security law seen as ending the autonomy that allowed the former British colony to thrive as an international financial center.The U.S. Senate pass -
U.S. regulator, Boeing complete 737 MAX certification test flights
The Federal Aviation Administration and Boeing Cohave completed certification test flights on the 737 MAX, a key milestone toward the plane's return to service, the U.S. regulator said on Wednesday.The MAX has been grounded since March 2019 after two fatal crashes in five months killed 346 people."The agency is following a deliberate process and will take the time it needs to thoroughly review Boeing's work," the FAA said. -
U.S. seeks Warhol, Monet paintings linked to 1MDB scandal
The U.S. Department of Justice on Wednesday said it was looking to recover another $96 million in assets in real estate and artwork linked to the 1Malaysia Development Berhad (1MDB) international money-laundering conspiracy.The assets include luxury real estate in Paris and paintings by Claude Monet and Andy Warhol linked to the embezzlement of the 1MDB fund by Malaysian officials, the Justice Department said in a statement.The agency has so far recovered or assisted Malaysia in recovering nearl -
Venezuela's oil exports sank in June to 77-year low - data
The fall in oil exports has starved the socialist government of President Nicolas Maduro of its main source of revenue, contributing to an economic collapse in the OPEC nation and leaving authorities short of cash for essential imports such as food and medicine.Maduro has held onto power despite the sanctions, frustrating the administration of U.S. President Donald Trump.Washington and most Western democracies accuse Maduro of rigging a 2018 re-election vote. -
In Brazil, deliverymen for Uber, other apps protest amid pandemic
Over a thousand food deliverymen on motorcycles gathered in São Paulo on Wednesday to protest their work conditions, set by Uberand other apps, with their services in high demand due to coronavirus lockdowns.The drivers seek better pay and improved health measures, with Brazil now a coronavirus epicenter and delivery workers facing exposure to the virus.Drivers paraded through Sao Paulo's Paulista Avenue, the city's main thoroughfare, blocking traffic in one direction. -
In Brazil, delivery drivers for Uber, Rappi and others protest amid pandemic
More than a thousand food delivery drivers on motorcycles gathered in São Paulo on Wednesday to protest their work conditions, set by Uber Technologies Incand makers of other apps, as their services remain in high demand due to coronavirus lockdowns.The drivers seek better pay and improved health measures, with Brazil now a coronavirus epicenter and delivery workers facing exposure to the virus.Drivers paraded through Sao Paulo's Paulista Avenue, the city's main thoroughfare, blocking tra -
More than 6,000 retail jobs cut from British high street in a day
More than 6,000 retail jobs cut from British high street in a dayHarrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cuts* Coronavirus – latest updates* See all our coronavirus coverage -
Fears grow for UK high street as more than 6,000 retail jobs cut in a day
Fears grow for UK high street as more than 6,000 retail jobs cut in a day. Harrods and Arcadia shed 1,200 jobs as John Lewis warns of staff and bonus cuts -
BioNTech and Pfizer's COVID-19 vaccine shows potential in human trial
A COVID-19 vaccine developed by German biotech firm BioNTechand U.S. pharmaceutical giant Pfizerhas shown potential and was found to be well tolerated in early-stage human trials, the companies said on Wednesday.The potential treatment is the fourth early-stage COVID-19 drug to show promise in human testing, along with projects involving Moderna , CanSino Biologicsand Inovio Pharmaceuticals .BioNTech's shares were up about 8%, after rising as much as 19% to reach their highest in more than three -
Trump backs new round of massive stimulus for US economy
Donald Trump has said the US will launch a second round of the giant stimulus measures used to prop up the world's largest economy as it swoons from the effects of the virus. The US President said he wanted to send cheques to all taxpayers, after $300bn (£240bn) of direct payments were handed to households to boost consumer spending in the spring. "I do, I support it, but it has to be done properly," Mr Trump said when asked by Fox Business Network if he supported a second round of stimulu -
Donald Trump backs new round of massive stimulus for US economy
Donald Trump has said the US will launch a second round of the giant stimulus measures used to prop up the world's largest economy as it swoons from the effects of the virus. The US President said he wanted to send cheques to all taxpayers, after $300bn (£240bn) of direct payments were handed to households to boost consumer spending in the spring. "I do, I support it, but it has to be done properly," Mr Trump said when asked by Fox Business Network if he supported a second round of stimulu -
As the Hong Kong security law comes into force, HSBC's silence is deafening
As the Hong Kong security law comes into force, HSBC's silence is deafeningThe bank publicly backed China last month – so after 370 arrests in one day, ‘no comment’ is unlikely to cut it -
U.K. regulators take aim at Apple's search engine deal with Google
Apple received the "substantial majority" of the 1.2 billion pounds ($1.5 billion) that Google paid to be the default search engine on a variety of devices in the United Kingdom in 2019, according to the report.The U.K. Competition and Markets Authority, in its final report investigating online platforms and digital advertising, said the arrangements between Apple and Google create "a significant barrier to entry and expansion" for Google's rivals in the search engine market. -
Tesla becomes world's most valuable car company as it shoots past $200bn
Tesla has overtaken Toyota to become the world's most valuable car company. The California-based electric vehicle maker is now worth almost $206bn, $3bn more than the Japanese automaker. The moment marks a new high for the company's stock, which has been rising for the past six months amid better-than expected financial results and vehicle delivery numbers. Tesla's valuation briefly overtook Toyota's last month, but this week the stock rose more consistently to outstrip its Japanese rival. Initi -
More than 100 Colombian soldiers implicated in sex abuse of minors, army says
At least 118 members of the Colombian army have been investigated since 2016 for alleged involvement in sexual abuse against minors, the head of the army said on Wednesday, amid accusations of sexual violence by soldiers against young girls.Of the 118 soldiers and army officials, 45 were fired, while the remaining 73 are facing criminal and disciplinary investigations by the attorney general and procurator's offices, General Eduardo Zapateiro told a virtual news conference.The army has "zero tol -
World Bank chief says coronavirus pandemic widening inequality gap
World Bank President David Malpass said on Wednesday that the coronavirus pandemic was exacerbating inequality throughout the world by hitting hardest those without a social safety net in developing countries while central bank asset purchases in advanced countries benefit the richest.Malpass told a webcast event hosted by the Council of the Americas the coronavirus pandemic was a "catastrophe" for the developing world that would bring long-term damage and global economic output would not recove -
Coronavirus: UK firms slash more than 12,000 jobs in two days
via bbc.co.ukBusinesses including Topshop owner Arcadia, Harrods, John Lewis, Airbus and EasyJet are cutting back. -
Leicester and Merthyr Tydfil top table for UK-wide Covid infections
New data from public health bodies show other towns and cities that could be at risk of local lockdown -
Leicester and Merthyr Tydfil top table for new Covid-19 infections
New data from public health bodies show other towns and cities that could be at risk of local lockdown -
Uber extends mask requirement for drivers, riders, launches new campaign
The company in a new campaign video showing Uber drivers and food delivery workers said wearing a mask was a way to thank them for their essential services during weeks of lockdown.Since the requirement took effect in May, Uber drivers have needed to take a selfie to verify they are wearing a mask before starting work.A company executive in May said Uber was looking into developing a similar feature to verify riders' compliance with the policy. -
U.S. lawmaker seeks to ban Chinese firms from U.S. capital markets
A top senator is preparing a bill to ban Chinese companies from U.S. capital markets if they engage in spying, human rights abuse or support China's military, threatening a financial blow as tensions mount over COVID-19 and Beijing's crackdown on Hong Kong.Republican Marco Rubio, a prominent China hardliner, said he plans to unveil the legislation in the coming weeks after the U.S. Department of Defense released a list of 20 companies that it alleges are owned or controlled by the Chinese milita -
World takes stock of COVID-19 drug remdesivir after U.S. snaps up supplies
Some governments in Europe and Asia said on Wednesday they have enough of Gilead'sCOVID-19 anti-viral remdesivir for now despite fears of shortages since the U.S. drugmaker pledged most output to its home market for the next three months.The pharmaceutical company's move stirred the global debate about equitable access to drugs and brought concerns about accessibility, especially in regions where coronavirus rates are still high or there have been new outbreaks.Remdesivir is in high demand after -
Tesco chairman John Allan to oversee Covid recovery commission
John Allan, the chairman of Tesco, is to oversee a new Covid-19 economic recovery commission, which will be endorsed by the Chancellor when it is launched on Friday. The former CBI president will be tasked with generating policy ideas for resuscitating the UK economy after the pandemic, Sky News reported. Rishi Sunak has agreed to endorse the Covid Recovery Commission, according to sources, however it will not have a formal government mandate. Committee members will include business leaders such -
Alitalia resumes international flights from Milan, Linate to open on July 13
Alitalia [CAITLA.UL] on Wednesday resumed international flights from Milan as Italy gradually reopens its airports to foreign travellers and scraps restrictions imposed to contain the coronavirus outbreak.The carrier, which is in the process of being nationalised after 11 years of troubled private management, will fly from Milan Malpensa airport to Amsterdam, Brussels, Paris and London.Milan city airport Linate, which before the health crisis was Alitalia's second-biggest airport after Rome's Fi -
Richard Branson to pump £200m into Virgin Atlantic as part of rescue package
Richard Branson to pump £200m into Virgin Atlantic as part of rescue package. Funds will be moved from Virgin Group as sector continues to be hammered by Covid-19 -
Tesla becomes world's most valuable carmaker without making a profit
Tesla becomes world's most valuable carmaker without making a profitElon Musk’s company outstrips Toyota on stock market as demand for electric cars soars -
Raab hits out at HSBC as first arrests made under Hong Kong security law
Foreign secretary Dominic Raab has launched a fresh broadside against HSBC over its support for a brutal crackdown in Hong Kong, after the first arrests were made under Beijing's controversial new security law. Mr Raab attacked the lender for throwing its weight behind the new rule, which criminalises anti-government movements in the former British colony and introduces life sentences or long term jail terms for vaguely defined national security crimes. HSBC gave its backing to the rule when it -
US : 'Disturbing surge' in COVID-19 cases
The White House's top expert on infectious diseases has warned the US is experiencing a "disturbing surge" in coronavirus cases. -
Drooping markets given shot in the arm by vaccine hopes
Worries over new outbreaks of coronavirus, and tensions over Hong Kong had depressed shares earlier in the day. -
Exasperated Merkel backs widening boardroom quota for women
Chancellor Angela Merkel expressed her support on Wednesday for setting a quota for women on the executive boards of Germany's top listed companies, building on a 30% quota for women on supervisory boards introduced in 2015.Merkel, a Christian Democrat who had long resisted quotas, said she is talking to Family Minister Franziska Giffey, who proposed legislation on the issue in February, but saw the topic sidelined during the coronavirus lockdown."It is absolutely inadequate that there are still -
UK high street suffers huge jobs losses
Retail and aviation sectors hit hard as government winds down furlough scheme -
Ryanair pilots to take 20% pay cut after boss Michael O'Leary issues jobs ultimatum
Ryanair pilots have agreed a temporary 20 per cent pay cut to limit job losses hours after chief executive Michael O'Leary gave them a public ultimatum.In an interview on BBC Radio 4, Mr O'Leary said that 3,000 people would lose their jobs unless all staff agreed to reduce their pay. -
BP completes sale of Alaskan oil and gas producing properties to Hilcorp Energy
BP Plcsaid it completed the sale of its Prudhoe Bay oil and gas producing properties to closely-held Hilcorp Energy, ending 60 years as a top Alaskan oil producer.BP and other oil majors have reduced their production roles in the northernmost U.S. state as output slid and lower-cost fields emerged elsewhere.Hilcorp, known for buying up oil castoffs, acquired half of another BP Alaska project in 2014. -
Prince Charles visits Adam Henson's Cotswold Farm Park
The Prince of Wales has visited Cotswold Farm Park in Gloucestershire today, where he heard how the attraction has coped during the coronavirus lockdown. Prince Charles was accompanied by Countryfile host and the farm's owner, Adam Henson, as he toured the grounds. . -
Sir Nick Clegg defends Facebook on hate speech as advertiser exodus continues
Former Liberal Democrats leader says the social network does not profit from hate. -
V-shaped economic bounceback could be short-lived, economist tells MPs
The IMF chief economist said going forward she thinks 'we could end up with a much more flat' recovery. -
Coronavirus: IMF warns it is 'too early' to predict V-shaped recovery for UK economy
Chief economist Gita Gopinath said it was 'too early' to predict that the UK economy will experience a rapid V-shaped recovery. -
New rightwing free speech site Parler gets in a tangle over … free speech
New rightwing free speech site Parler gets in a tangle over … free speech. The social network bills itself as a ‘no censorship’ bastion – but it’s already had to remind users what is and isn’t allowed -
Market report: Kier tumbles after revealing cash plea
Shares in construction services company Kier Group suffered their sharpest fall since March after the group revealed it is considering an equity raise. Its slipped as much as 15pc, the most since late March, before pulling back later in the day to close down 7.6p to 90p. Expectations of increased Government spending on infrastructure had sent its shares up on Monday. The group re-emphasised in an announcement on that it should benefit from Boris Johnson’s “build, build, build” -
European markets volatile to start Q3
Yahoo Finance's Edmund Heaphy has the latest from London. -
A pub stock for the future: 1 FTSE 250 stock I’d buy now
Is this a bargain at the current price? Ash Karandawala takes a look at the long-term potential of FTSE 250 stock Marston’s.The post A pub stock for the future: 1 FTSE 250 stock I’d buy now appeared first on The Motley Fool UK. -
Woman's house burnt down after she was caught sexually abusing her dogs
via ibtimes.co.ukThe woman was arrested after videos of her sexually abusing the animals was circulated on social media. -
You won’t make a million from Bitcoin. But £500 a month in a Stocks and Shares ISA might do it
Investing in crypto-currency Bitcoin could end up making you a lot poorer. A Stocks and Shares ISA is a surer way to make a million.The post You won't make a million from Bitcoin. But £500 a month in a Stocks and Shares ISA might do it appeared first on The Motley Fool UK. -
UK retail landlords squeezed as stores hit by Covid-19 crisis
UK retail landlords squeezed as stores hit by Covid-19 crisisBullring owner Hammerson and Meadowhall owner British Land fail to receive all rent due* Coronavirus – latest updates* See all our coronavirus coverage -
Citigroup pulls back on office return plans
Bloomberg News reported the news earlier on Wednesday.Citi will delay plans to bring back a small percentage of workers in 13 states, the Bloomberg report said, citing a person with knowledge of the matter. -
Coronavirus: Over a third of Brits 'preparing emergency savings' for another lockdown
Over two-thirds of people believe they will witness a lockdown again, encouraging people to put away emergency savings, according to a survey. -
Spotify Duo: Streaming service launches premium subscription plan for couples
Spotify has announced a new subscription tier for couples, allowing them to split the cost of a Premium membership.The new membership, called Spotify Duo, gives each user access to Spotify Premium for £12.99 per month, which is slightly more expensive than its $12.99 US equivalent. -
UK may need bigger safety net for jobless after lockdown - IMF
Britain should consider increasing its unemployment benefits to help get people into the kind of work that is likely to be in demand after the coronavirus lockdown, the chief economist of the International Monetary Fund said.Gita Gopinath told lawmakers in Britain's parliament on Wednesday that the first priority for governments was to scale back gradually their support programmes for workers affected by the COVID-19 crisis, including state job retention schemes.Then, as governments seek to get -
Google and Facebook too powerful, says watchdog
via bbc.co.ukThe competition watchdog calls for new rules to tackle tech giants, including powers to break them up. -
What's the best hybrid for family use: SUV or estate?
Estate or SUV? It’s unlikely the debate will cease here, but while pre-Covid sales of Sport Utility Vehicles were running out of control in the UK, perhaps as we come out of lockdown we’ll be able to take a more nuanced view on family vehicles. Maybe six months without the school run will have made us think a bit more seriously about what we really want out of a family car, as well as other things such as the health of the planet, a less visible road presence, or at least a better-lo
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