Author: LoveWorld UK

Loan payment freezes negotiated by companies with their banks during the pandemic should not damage their credit rating, credit reference agencies in Britain said on Wednesday. Experian, Creditsafe, Dun and Bradstreet, and Equifax set out guidance on Wednesday to protect business credit scores during the coronavirus lockdown. The government and regulators want banks to offer loan repayment freezes to companies struggling to stay afloat as millions of people are furloughed or forced to claim welfare benefits and a deep recession looms. “Once agreed, lenders should not report a build-up of arrears to the four designated credit reference agencies… ensuring business…

British lawmakers will upend 700 years of history on Wednesday when they question ministers by video link – an unprecedented and largely untested ‘hybrid parliament’ arrangement forced by the coronavirus outbreak. As Britain endures its fifth week of a national lockdown, with businesses shuttered and citizens ordered to stay at home, parliament returned from an extended Easter break on Tuesday and will question stand-in leader Dominic Raab at 1100 GMT. A maximum of 50 lawmakers will be physically allowed in the debating chamber, with another 120 permitted to join in via Zoom video conference beamed onto television screens dotted around…

ran’s Revolutionary Guards Corps said on Wednesday it had successfully launched the country’s first military satellite into orbit, at a time of heightened tensions with the United States over Tehran’s nuclear and missile programmes. U.S. officials have said they fear long-range ballistic technology used to put satellites into orbit could also be used to launch nuclear warheads. Tehran denies U.S. assertions that such activity is a cover for ballistic missile development and says it has never pursued the development of nuclear weapons. “Iran’s first military satellite, Noor, was launched this morning from the central desert of Iran. The launch was…

Britain’s House of Commons, where lawmakers notoriously jeer at rivals seated two sword-lengths away, is about to find out whether it can make ministers sweat over Zoom. When parliament returns this week for its first new session in the age of the coronavirus, just 50 of the 650 members will be allowed into the chamber, kept apart by lines taped on the carpet to enforce social distancing rules. Another 120 will be selected to appear by Zoom on screens dotted around the green benches. The rest will have to watch silently from home. In a system that has prized in-person…

British employers have put more than a million staff on temporary leave due to the coronavirus, finance minister Rishi Sunak said, reporting a flood of applications since the government’s costliest programme to support the economy opened. The scheme will pay 80% of employers’ wage bills until the end of June for staff suspended during the coronavirus lockdown, and it received 140,000 applications from firms in the first eight hours it was open on Monday. “The grants … will help pay the wages of more than a million people – a million people who if they hadn’t been furloughed would have…

The UK insurance industry has formed a steering committee comprising several top insurance company bosses who will work with government-backed terrorism reinsurance fund Pool Re to develop a pandemic cover, the group said on Tuesday. Britain is in a lockdown due to the coronavirus, with many companies shuttered and some facing the threat of collapse, while millions of workers have been furloughed as the country heads for a deep recession. The steering group, which is chaired by Stephen Catlin, the chief executive officer of specialist insurer and reinsurer Convex Group, will propose an industry pandemic response to both the government…

The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity. The contract for West Texas intermediate crude, or WTI, is the benchmark for U.S. crude oil prices. On Monday, it looked like this: WHAT DOES A NEGATIVE FUTURES PRICE MEAN? The price of a barrel of crude varies based on factors such as supply, demand and quality. Supply of fuel has been far above demand since the coronavirus forced…

Insurer Admiral (ADML.L) said on Tuesday it will return 110 million pounds to car and van policyholders who have heeded government advice to stay home and drive less during Britain’s coronavirus lockdown. The company said a refund of 25 pounds will be given to all customers for each car and van covered as at April 20, which amounts to a total of 4.4 million vehicles. Admiral said it was giving its customers the refund to reflect that there have been fewer cars on the road since Britain’s lockdown began on March 23 and it expected this to result in fewer…

Protests flared in U.S. states on Sunday over stay-at-home orders while governors disputed President Donald Trump’s claims they have enough tests for the novel coronavirus and should quickly reopen their economies. An estimated 2,500 people rallied at the Washington state capitol in Olympia to protest Democratic Governor Jay Inslee’s stay-at-home order, defying a ban on gatherings of 50 or more people. Despite pleas from rally organizers to wear face coverings or masks as public health authorities recommend, many did not. “Shutting down businesses by picking winners and losers in which there are essential and non-essential are violations of the state…

Chancellor Angela Merkel expressed her frustration in a party meeting on Monday that moves to edge Germany out of lockdown had led to “discussion orgies” in some regions that risked higher rates of coronavirus infection, German media reported. Some German retailers began reopening on Monday, along with car and bicycle dealers, and bookstores, under an agreement Merkel reached with state leaders last Wednesday. “Merkel complains about discussion orgies over opening”, ran a headline in mass-selling daily Bild’s online edition after the chancellor joined senior members of her Christian Democrats (CDU) in a video conference. The chancellor feared that a slowdown…