Author: LoveWorld UK

UK TO BRING IN NEW LAW TO QUASH WRONGFUL POST OFFICE CONVICTIONS – Prime Minister speaks out in the wake of national outrage over the scandal The UK will seek to use new legislation to overturn the wrongful convictions of hundreds of Post Office managers, Prime Minister Rishi Sunak said in the wake of renewed national outrage over the scandal. Between 1999 and 2015, hundreds of self-employed sub-postmasters at branches of the state-owned Post Office were convicted of theft, fraud and false accounting because faulty software wrongly showed thousands of pounds missing from branch accounts. A TV dramatisation of the…

ARGENTINA AND IMF REACH DEAL – Key funds unlocked to salvage debt program Argentina and the International Monetary Fund (IMF) finalised the details of an agreement over the country’s embattled $44 billion loan program, unlocking a more-than-expected $4.7 billion, the fund has said. Argentina, battling annual inflation heading toward 200% and net foreign currency reserves in negative territory, needed to revamp its huge IMF deal after the previous government missed various economic targets linked to the program. The new government of libertarian President Javier Milei had been locked in talks with IMF officials in Buenos Aires since late last week,…

TESCO RAISES PROFIT FORECAST – M&S also reports strong Christmas sales Tesco has raised its annual profit forecast while joining Marks and Spencer (M&S) in reporting strong Christmas sales. Tesco, the UK’s largest retailer, said comparable sales growth over six weeks to 6 January was 6.8% higher compared to the same period last year. The figure rose to 7.5% over the 19 weeks also covering its third quarter. Tesco said its performance was aided by price cuts on almost 2,700 products and, despite the discounting, it now expected adjusted operating profit, its headline measure, to come in at £2.75bn for…

MARUTI SUZUKI ANNOUNCES PLANS TO INVEST BILLIONS IN GUJARAT – 350 billion rupees to be invested to build a second car plant in western Gujarat state India’s top carmaker Maruti Suzuki will invest 350 billion rupees to build a second car plant in western Gujarat state and will add a new production line at an existing plant, the president of its parent company has said. The carmaker will also invest 32 billion rupees to add a new production line in the state, Toshihiro Suzuki said at the Vibrant Gujarat Global Summit, which was attended by several heads of state including…

BARCLAYS AND SANTANDER CUT RATES –  Some lenders now have better options for those remortgaging Competition has intensified among mortgage lenders for people who are searching for a new deal, bringing some relief to those facing higher bills. Brokers say that some lenders now have better options for those remortgaging than for those buying a property. This will help people whose relatively cheap fixed-rate deal is coming to an end and are looking for a new one. Two major lenders, Barclays and Santander, have announced further significant cuts. The firms said they would reduce rates on some of their products…

UN REPRESENTATIVES REPEAT CALL FOR PEACE IN GAZA AFTER US VETO OF CEASEFIRE – Several representatives were also critical of the U.S. position Representatives of various countries to the United Nations on Tuesday called for an immediate ceasefire in Gaza to effectively deliver humanitarian aid and urged permanent Security Council members to be wary of exercising their veto power after the United States blocked a ceasefire in the conflict zone. The calls came during a United Nations General Assembly plenary session on Tuesday, which was held over the U.S.’ veto of a Russian-proposed amendment to the UN Security Council resolution…

RECORD-BREAKING DOCTORS’ STRIKE PILES PRESSURE ON ENGLAND’S HEALTH SERVICE – The government, which has agreed new pay deals Junior doctors in England started a six-day walkout over pay on the 3rd January, the longest strike in the 75-year history of the state-run National Health Service, which will hit patient care during a seasonal winter peak in demand. Doctors taking part in the industrial action flocked to picket lines in Nottingham, Birmingham, Newcastle and Liverpool, video footage showed. As in other key sectors over the past year, junior doctors represented by the British Medical Association (BMA) have staged a series of…

MANCHESTER UNITED BOOK PLACE IN FA CUP FOURTH ROUND – Manchester United beat Wigan Athletic 2-0 Manchester United returned to winning ways to book their place in the FA Cup fourth round as goals in either half from Diogo Dalot and Bruno Fernandes secured a routine 2-0 success over League One Wigan Athletic at the DW Stadium. Having ended 2023 with defeat at Nottingham Forest, Dalot put United on the front foot with a sublime finish for his second goal of the season – and after Fernandes was fouled inside the box by Liam Shaw, he converted his own spot-kick…

SAMSUNG WARNS OF WORSE THAN EXPECTED PROFITS FALL – Global demand for consumer electronics remains weak Technology giant Samsung Electronics says it is likely to see its profits for the last three months of 2023 fall by more than a third. The decline is much worse than analysts expected and comes as global demand for consumer electronics remains weak. South Korea-based Samsung is the world’s largest maker of memory chips, smartphones and televisions. The company is scheduled to release a detailed financial earnings report on 31 January. Samsung estimated that its operating profit fell to 2.8 trillion won which is…

PM SUNAK DENIES PREVIOUS DOUBTS ON RWANDA DEPORTATION SCHEME – Cost of housing migrants awaiting a decision is 8 million pounds a day. Prime Minister Rishi Sunak on Monday denied wanting to “scrap” the government’s Rwanda deportation scheme in 2022. The BBC reported it had seen papers suggesting that Sunak had wanted to scale back plans to send asylum seekers to the African nation and the documents also indicated he was not sure the policy would be a deterrent. Speaking in the north western county of Lancashire, Sunak denied the report, saying it was his job as finance minister at…