Author: LoveWorld UK

Asian shares erased earlier gains on Wednesday, swinging into negative territory as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and fueled fears about the economic impact of the outbreak. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.52%. Hong Kong shares, fell 2.8% on their first session after a two-and-a-half trading day break for Lunar New Year, led by declines in financial services, real estate, and consumer goods companies. Hong Kong leader Carrie Lam previously announced that high-speed rail services and ferries would be suspended from midnight on Thursday , and that the number…

President Donald Trump’s fellow Republicans in the U.S. Senate came under renewed pressure to allow witnesses in his impeachment trial, while his defense team largely ignored disclosures from a former White House adviser. The elephant in the room on Day 2 of Trump’s defense arguments was John Bolton, the former national security adviser whose unpublished book manuscript, according to the New York Times, included disclosures that go to the heart of the abuse of power charge against Trump. The Senate may resolve the issue of whether to call witnesses in a vote on Friday or Saturday. Democrats said the Bolton…

The UK’s financial regulator has asked banks to explain how they have decided on their new overdraft rates. The Financial Conduct Authority (FCA) said most High Street banks had set “very similar prices” after it demanded changes to the system. Several big brands including Santander, Lloyds Banking Group and HSBC are set to bring in a 39.9% rate this year. The FCA has sent a letter to banks, asking them to explain what influenced their decision. The City regulator has also asked how the banks will deal with any customers who could be worse off following the changes.

A government fund is to be launched later to restore historic railway lines closed more than 50 years ago under the so-called Beeching cuts. Transport Secretary Grant Shapps will visit Fleetwood to announce £21.9m for two railway lines and a New Stations Fund. The £500m fund was promised in the Tory election manifesto in November, but Labour called the plan “meaningless”, adding that £500m would reopen just 25 miles of railway. And the Rail, Maritime and Transport union (RMT) described the funds as a “drop in the ocean”. Work is not being started on restoring the historic railway lines. Instead…

Boeing Co began the maiden flight on Saturday of the world’s largest twin-engined jetliner as the embattled planemaker steps up competition with European rival Airbus in a respite from a crisis over its smaller 737 MAX. The 777X, a larger and more efficient version of Boeing’s successful 777 mini-jumbo, took off outside Seattle at 10:09 a.m. local time after high winds forced the company to postpone two earlier attempts this week.  The 777X will compete with the recently introduced Airbus A350-1000 which seats about 360 passengers. Both reflect the growing range and efficiency of twin-engined jets that are steadily displacing…

Nearly 10,000 retail jobs have been lost since the start of this year, according to new research. Some 9,949 positions have gone in January, with a further 1,200 under threat, the Centre for Retail Research says. Debenhams, Mothercare and Asda are among the big brands to have closed stores or announced redundancy plans. Other retailers closing stores or cutting jobs include HMV, Game, Arcadia and Morrisons. Last week it was revealed that around 57,000 retail jobs were lost in 2019, with the British Retail Consortium blaming the continuing transformation of the industry along with other issues such as the uncertainty…

Britain will set out more details about its objectives for a free trade deal with the European Union next month after the country leaves the bloc on Jan. 31, Brexit Secretary Stephen Barclay. “We are going to publish our objectives for the negotiation (…) in due course after the 31st,” he told reporters. At stake are the terms of trade from 2021, when an 11-month post-Brexit transition period is due to  expire. Negotiations between London and Brussels are expected to start in March. The European Commission, which negotiates on behalf of the 27 remaining EU members, will thrash out its…

Australia confirmed its fifth case of a new coronavirus, with health officials saying the case involved a 21-year-old woman who was on the last flight out of the Chinese city of Wuhan to Sydney before China imposed a travel ban. The coronavirus, believed to have originated in a wildlife market in the central Chinese city of Wuhan, has killed 80 people, all of them in China, and infected more than 2,700, the vast  majority in China. The woman traveled on a direct flight to Sydney from Wuhan and developed symptoms within 24 hours and went to an emergency department, New…

Pray-A-Thon 2020, a great chain of unbroken prayer for the nations is ongoing and moving into week 4. Praise God! The Bible admonishes us in 1 Thessalonians 5:17, to ’Pray without ceasing’ and we’re doing just that – every hour, every day, all year. Join our prayer times today – 12noon, 10pm Local time – as normal for a Mon, Wed and Fri, and additionally join at another 15 mins of your choice with any of our praying groups,   We are praying for the protection of Christians around the world, especially those in nations hostile to the gospel; that they…

European Central Bank President Christine Lagarde dismissed a recent uptick in euro zone inflation as “really minor”, adding that much higher readings would be needed to change the picture. “We’re seeing inflation moving a teeny, tiny little bit but this is really minor,” Lagarde said during a panel discussion at the World Economic Forum on Friday. “It would take much higher numbers to actually change the picture fundamentally.” Source: Reuters