Author: LoveWorld UK

Britain’s economy stumbled out of its coronavirus-induced slump in May, dashing hopes of a swift rebound as government budget forecasters said it was on course for its worst year since pre-industrial times. Gross domestic product grew less than any economist polled by Reuters had forecast, up 1.8% after a record 20.3% slump in April when lockdown curbs were tightest, figures from the Office for National Statistics showed. With activity in the dominant service sector not recovering as expected in May, Tuesday’s data fuelled doubts about how much of a bounce-back Britain will see after more businesses were allowed to reopen…

France’s EDF (EDF.PA) has opened a nuclear design centre in Britain to help support construction of its new power plants in the country, the company said on Wednesday. The 21.5-22.5 billion pounds ($27-28 billion) Hinkley Point C nuclear plant, which EDF is building with China’s CGN [IPO-CGNP.HK], in the south of England is expected to begin generating power by the end of 2025. It will be capable of generating around 7% of Britain’s electricity demand. EDF said the UK EPR Design Centre in Bristol, in the south west of England, will bring together several engineering firms involved in the nuclear…

Liverpool manager Juergen Klopp said he has invited Wycombe Wanderers’ Adebayo Akinfenwa to their Premier League title parade shortly after sending the forward a congratulatory message for sealing promotion to the Championship. After Wanderers beat Oxford United in the League One playoff final at Wembley on Monday to secure their place in the English second-tier for the first time, Akinfenwa had joked in his post-match interview that Klopp could “hit me up on WhatsApp”. The German manager had responded with a video message and said during a news conference on Tuesday that Akinfenwa would also be part of their title…

President Donald Trump on Tuesday ordered an end to Hong Kong’s special status under U.S. law to punish China for what he called “oppressive actions” against the former British colony, prompting Beijing to warn of retaliatory sanctions. Citing China’s decision to enact a new national security law for Hong Kong, Trump signed an executive order that he said would end the preferential economic treatment for the city. “No special privileges, no special economic treatment and no export of sensitive technologies,” he told a news conference. Acting on a Tuesday deadline, he also signed a bill approved by the U.S. Congress…

Alphabet Inc’s Google (GOOGL.O) is in advanced talks to invest $4 billion (3.1 billion pounds) for a stake in the digital arm of Indian conglomerate Reliance Industries Ltd (RELI.NS), Bloomberg reported on Tuesday, citing people familiar with the matter. An announcement could come as soon as the next few weeks, according to the report here Google declined to comment, while Reliance did not immediately respond to a request for comment. Investors, including Facebook (FB.O) and KKR & Co (KKR.N), have already poured in a combined $15.64 billion for just over 25% in Jio Platforms. The funding spree, which began late April,…

Manchester United’s Champions League qualification hopes suffered a blow after an equaliser deep in stoppage time from Michael Obafemi earned Southampton a 2-2 draw in the Premier League at Old Trafford on Monday. United, unbeaten in 18 games in all competitions, were poised to move up to third after Anthony Martial’s 23rd minute strike had put them 2-1 ahead. They had fallen behind to an early Stuart Armstrong goal before Marcus Rashford equalised. But on the day that second-placed Manchester City’s two-year ban from European football was overturned on appeal, meaning only the top four will qualify for the Champions…

London-listed stocks snapped two straight sessions of gains on Tuesday as fears of another wave of the COVID-19 pandemic overshadowed signs of a tentative economic recovery in May, while safety equipment maker Halma slumped on a bleak forecast. Halma’s shares (HLMA.L) slid 5.9% after the company said it expected both profit and revenue to fall in its fiscal year 2021 and flagged potential job cuts. Tech-heavy investment trust Scottish Mortgage (SMT.L) fell 5.5%, tracking a sell-off in U.S. and European technology stocks on new coronavirus restrictions in California and simmering U.S.-China tensions. The export-laden FTSE 100 .FTSE was down 0.6%, with financials,…

Shoppers in England will have to wear face coverings in shops and supermarkets from July 24 to help reduce the risk of a new pick-up in the spread of the coronavirus, Prime Minister Boris Johnson’s office said. Johnson said last week that tighter rules on wearing face coverings might be needed but a senior minister – Cabinet Secretary Michael Gove – said on Sunday that wearing masks should be left instead to people’s common sense. “The prime minister has been clear that people should be wearing face coverings in shops and we will make this mandatory from July 24,” a…

Prime Minister Boris Johnson is set to ban Huawei from Britain’s 5G network on Tuesday, angering China but delighting U.S. President Donald Trump by signalling that the world’s biggest telecoms equipment maker is no longer welcome in the West. The United States has pushed Johnson to reverse his January decision to grant Huawei a limited role in 5G, while London has been dismayed by a crackdown in Hong Kong and the perception China did not tell the whole truth over the coronavirus. Now, as Britain prepares to cast off from the European Union, Johnson will risk the ire of the…

The European Union is preparing countermeasures on China in response to Beijing’s new security law on Hong Kong, the EU’s top diplomat said on Monday, but envoys stressed the likely steps will not amount to economic sanctions. Diplomats said there was broad support among EU member states for some action but tough measures were not being discussed in detail because of resistance from China’s closest trade partners in Europe, such as Hungary and Greece. Like much of the West, the EU has denounced the decision by China’s parliament to pass national security legislation for the ex-British colony of Hong Kong…