Author: LoveWorld UK

Britain’s Financial Conduct Authority told banks and other lenders on Wednesday not to crack down on customers who will struggle after repayment holidays come to an end. When the economy went into lockdown in March to fight the pandemic, regulators set out how providers of credit to consumers like personal loans, overdrafts, motor finance, buy-now-pay-later and pawnbrokers should offer payment deferrals. Millions of consumers have requested three-month payment holidays. People can request a holiday until Oct. 31, meaning it could stretch to the end of next January. The FCA set out guidance on Wednesday on how it expects banks and…

The deal is sealed – at the White House on Tuesday, the United Arab Emirates and Bahrain signed a groundbreaking peace treaty with Israel. President Trump brokered the deal, and he predicts more Arab countries will soon join the “circle of peace.” President Trump calls the accord “peace in the Middle East without blood on the sand.” This is also a diplomatic win ahead of the November election. “We are here this afternoon to change the course of history,” the president announced. The historic peace deal, dubbed “the Abraham Accord”, establishes full diplomatic ties between the key allies of the…

Paris St Germain’s Neymar has been given a two-match ban for striking out at Olympique de Marseille’s Alvaro Gonzalez in last Sunday’s fiery 1-0 defeat in Ligue 1, organisers said on Wednesday. The league’s statement added that defender Alvaro was being investigated after Neymar accused the Spaniard of using racist language towards him during the match, in which a total of five players were sent off following a mass brawl in stoppage time. PSG defender Layvin Kurzawa was given a six-match ban, the heaviest sanction of all, for his role in the confrontation at the end of the match between…

China’s ByteDance faces an uphill struggle to convince the White House to allow it to keep majority ownership of its popular short video app TikTok in the United States, according to former national security officials and regulatory lawyers. Trump ordered ByteDance last month to divest TikTok amid U.S. concerns that the personal data of as many as 100 million Americans that use the app could be passed on to China’s Communist Party government. He has threatened to ban TikTok in the United States as early as Sept. 20 if ByteDance does not comply. ByteDance has submitted a plan to U.S.…

The Bank of England is expected to signal on Thursday that it is getting ready to pump yet more stimulus into Britain’s economy as it heads for a jump in unemployment and a possible Brexit shock. The BoE has already cut interest rates to a record low 0.1% and ramped up its bond-buying programme to almost $1 trillion (771 billion pounds) to soften the impact of the coronavirus shock. It has enough firepower to keep buying bonds until the end of 2020, so investors are expecting only a signal of intent to do more at the end of its September…

Tottenham Hotspur are in talks with Real Madrid to re-sign winger Gareth Bale, his agent said on Tuesday, as the Wales international looks to end his troubled spell at the Spanish club. Bale made over 200 appearances for Premier League Spurs between 2007 and 2013, scoring 56 goals with 58 assists before his then world record move to Real for 100 million euros ($118.46 million). The 31-year-old has scored over 100 goals for the Madrid side and won numerous trophies, including four Champions League titles, but was give limited playing time under Zinedine Zidane towards the end of last season’s…

Amazon.com Inc’s main UK subsidiary, Amazon UK Services Ltd., paid just 6.3 million pounds ($8 million) in corporation tax in 2019 despite the group reporting over $17.5 billion in sales in Britain, accounts published on Wednesday show. Amazon said the low figure reflected the underlying condition of its UK business. “Corporation tax is based on profits, not revenues, and our profits have remained low given retail is a highly-competitive, low margin business and we continue to invest heavily,” the company said in a statement. Amazon does not publish its UK profits. British sales are reported largely through a web of…

British Airways is taking every measure possible to make it through the winter and does not expect a quick return to flying because passengers remain too scared to travel, its boss said on Wednesday. BA CEO Alex Cruz told a parliamentary select committee that the airline was running at 25 to 30% of its normal flight schedule, prompting it to cut thousands of jobs. “This is the worst crisis that British Airways has gone through in its 100 years of history,” he said. “We’re still fighting for our own survival. “We are taking every measure possible to make sure we…

Britain offered tentative concessions on fisheries in trade talks with the European Union last week, two diplomatic sources told Reuters, just as London was publicly threatening to breach the terms of its divorce deal with the bloc. The sources, who did not attend last week’s talks between the sides’ chief negotiators but were briefed on them by the EU negotiating team, described the offer as a possible bid by London to overcome a key obstacle to a new trade deal from 2021. They said it also suggested London might still be open to clinching an agreement despite a crisis in…

British Prime Minister Boris Johnson’s government sees a ‘way through’ the parliamentary maze for his bill that would break the Brexit divorce treaty as it talks with rebels in the Conservative Party, a minister said on Wednesday. Johnson’s Internal Market Bill, which the EU has demanded he scrap by the end of September, is currently being debated in parliament, though he is facing a rebellion by some members of his Conservative Party. “I believe there is a way through,” Robert Buckland told the BBC when asked about negotiations with rebels in parliament over the bill, adding that London wanted a…