Author: LoveWorld UK

Daimler AG DAIGn.DE will pay $2.2 billion (1.71 billion pounds) to resolve a U.S. government diesel emissions cheating investigation and claims from 250,000 U.S. vehicle owners, court documents show. The German automaker and its Mercedes-Benz USA LLC unit disclosed on Aug. 13 it had reached a settlement in principle resolving civil and environmental claims tied to 250,000 U.S. diesel cars and vans after the automaker used software to evade emissions rules. Daimler said in August expected costs of settlements with U.S. authorities would total $1.5 billion, settling with owners will cost another $700 million and also disclosed “further expenses of a mid…

Britain’s unemployment rate rose for the first time since the coronavirus lockdown began in March, sending a warning signal ahead of an expected surge in job losses when a huge government job subsidy programme expires next month. The unemployment rate increased to 4.1% in the three months to July from the 3.9% it had clung to since early 2020, in line with the median forecast in a Reuters poll of economists. The government’s coronavirus job subsidy scheme has shielded millions of workers and there were fewer job losses than feared in the figures published on Tuesday. Redundancies increased by 48,000…

Chelsea got their Premier League campaign on track after 20-year-old right-back Reece James helped them to a 3-1 win at Brighton & Hove Albion with a spectacular goal on Monday. New signings Timo Werner and Kai Havertz made their debuts up front after the German internationals joined Frank Lampard’s side from the Bundesliga during the close season. But it was James who gave the visitors a 2-1 lead with a thunderbolt into the top corner from 25 metres before a deflected shot by central defender Kurt Zouma sealed the points. “It was a hard game after 1-1 but then Reece…

Traffic picked up in cities across the globe as the summer season ended and schools opened, giving a boost to fuel demand, but the prospect of recovery remained weak as many commuters still worked from home and vehicle sales were down. The reliance on isolated forms of travel including private cars seemed to be the main factor boosting demand, analysts and traders said, as most people avoided public transport for fear of the coronavirus. Road traffic in New York, London and Paris was on a slow but steady recovery, data provided to Reuters by location technology company TomTom showed. In…

British Prime Minister Boris Johnson lashed out at the European Union on Monday as he won initial approval for a plan to breach the Brexit treaty, saying the move was needed because the bloc had refused to take a “revolver off the table” in trade talks. Johnson won the so-called second reading parliamentary vote on the Internal Market Bill 340 to 263. A wrecking amendment was defeated shortly beforehand, though more will follow as he faces a growing rebellion in his party. The EU says Johnson’s bill would collapse trade talks and propel the United Kingdom towards a messy Brexit…

The European Union is set to delay a decision on allowing City of London clearing houses to continue clearing euro transactions for EU-based clients due to concern over Britain’s plan to breach its Brexit divorce settlement, a derivatives industry source said on Monday. Brussels had already said it would grant Britain “time-limited” access to euro clearing from January to avoid huge disruption to markets as a unit of the London Stock Exchange LSE.L clears the bulk of euro-denominated swaps that are widely used by companies. The bloc’s executive European Commission was due to formally take the decision on access later this week,…

Frank Lampard says he was “amused” by Juergen Klopp’s comments on Chelsea’s transfer spending and that Liverpool’s heavy expenditure in previous years had laid the foundations for last season’s Premier League title triumph. Chelsea, owned by Russian billionaire Roman Abramovich, have spent around 200 million pounds ($256.36 million) to bring in Timo Werner, Kai Havertz, Hakim Ziyech and Ben Chilwell. Klopp, who has only signed left-back Konstantinos Tsimikas from Olympiakos Piraeus this season, said Liverpool would not be spending a similar amount as they were a “different kind” of club, one “not owned by countries or an oligarch”. “I found…

Amazon.com Inc on Monday said it is recruiting 100,000 more workers – the fourth hiring spree it has announced for the United States this year – to keep pace with e-commerce demand that jumped during the pandemic. The world’s biggest online retailer said the positions are for full and part-time work in its home country and Canada, and these will include roles at 100 new warehouse and operations sites it is opening this month. The Seattle-based company employed 876,800 people as of June 30, excluding contractors and temporary personnel. The news reflects Amazon’s constant need for labor to pick, pack…

Europe’s largest economy is set to continue recovering from the coronavirus crisis in the remainder of 2020 and will likely grow strongly in the third quarter but it probably will not reach its pre-crisis level until 2022, the German Economy Ministry said. The trough of the recession was reached in the second quarter and the easing of lockdown measures since May led to a rapid recovery in industry and in some service sectors, the ministry said in its monthly report on Monday, adding that the revival has lost some steam lately though. “The German economy is continuing to pick up,…

Deutsche Telekom and France’s OVHcloud plan to build a new cloud computing offer for European companies and public sector entities deemed of strategic importance, the two companies said on Monday. The Franco-German partnership is the first attempt to offer a European alternative to Amazon, Microsoft and Google in cloud computing, a business expected to grow by 6.3% in 2020 to $257.9 billion, according to research firm Gartner, as many people work from home due to pandemic lockdowns. The three U.S. companies had a combined worldwide market share of 60% in the second quarter, according to market research. This dominance has…