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Monday, July 26, 2021
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26 Jul 5:56pm Tesla second-quarter profits top $1bn even as it struggles to handle demand
The Guardian
A global shortfall of semiconductors has affected the Tesla supply chain as well as car manufacturers across the world Tesla made a profit of more than $1bn in the last three months even as it struggled to keep up with demand for electric cars in the face of a global chip shortage. The company announced Monday that it has made a profit of $1.14bn in its second quarter, 10 times what it made a year ago and its eighth quarter of back-to-back profits.
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26 Jul 4:03pm US will not lift travel restrictions ‘at this point’ due to spread of Delta variant
The Guardian
Restrictions that bar much of the world’s population from the US since 2020 will not be lifted in the short term, White House says The United States will not lift any existing travel restrictions “at this point” due to concerns over the highly transmissible Covid-19 Delta variant and the rising number of US coronavirus cases, the White House confirmed on Monday. The decision comes after a senior level White House meeting late on Friday. It means that the long-running travel restrictions that have barred much of the world’s population from the United States since 2020 will not be lifted in the short term.
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26 Jul 3:39pm UK rejects EU’s Northern Ireland moves, saying Brexit deal must be renegotiated
The Guardian
Downing Street says Brussels overtures are insufficient and ‘comprehensive’ solutions needed Boris Johnson has rejected Brussels’ latest attempt to iron out problems with the post-Brexit arrangements for Northern Ireland, insisting that the withdrawal agreement signed last year must be renegotiated.
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26 Jul 2:25pm UK’s economy ‘not out of the woods’ after lockdown, Bank of England policymaker warns
The Guardian
Jan Vlieghe says Threadneedle Street should be cautious about raising interest rates to counter inflation Britain’s economy is not out of the woods and the damage caused by the Covid-19 pandemic has been only partly repaired, a Bank of England policymaker has said. Speaking as fresh figures showed only a modest impact on consumer activity from “freedom day”, Jan Vlieghe said Threadneedle Street should be cautious about raising interest rates to counter higher levels of inflation emerging after lockdown.
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26 Jul 12:51pm Selfridges to be auctioned off with £4bn starting price
The Guardian
Assets up for grabs include Selfridges’ four UK stores, Brown Thomas and Arnotts in Ireland and De Bijenkorf in the Netherlands The family owners of Selfridges are kicking off an auction for the luxury department store, and have put a £4bn price tag on the business. The Weston family, one of Canada’s richest families, first admitted that it might consider a sale of its European department store assets last month after an approach from a mystery buyer.
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26 Jul 11:19am Tesco Bank to close all current accounts from end of November
The Guardian
Customers to receive letter in next fortnight to advise on what they need to do Tesco Bank has announced it is closing all of its customers’ current accounts from the end of November, and that it will write to them in the next fortnight to advise them what they need to do. The banking arm of the retailer
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26 Jul 11:08am Covid quarantine to be dropped for some Britons vaccinated abroad
The Guardian
Vaccines minister says government will recognise UK-authorised jabs given overseas from next month
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26 Jul 10:01am Bank of England: Moves to curb inflation would be premature, warns policymaker
The Guardian
Monetary policy committee member says Britain’s economy is still recovering from Covid pandemic Britain’s economy is not out of the woods and the damage caused by the Covid-19 pandemic has been only partly repaired, a Bank of England policymaker has said. Speaking as fresh figures showed only a modest impact on consumer activity from “freedom day”, Jan Vlieghe said Threadneedle Street should be cautious about tightening policy.
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26 Jul 9:43am China’s nuclear power firm could be blocked from UK projects
The Guardian
Ministers looking at ways to exclude state-owned China General Nuclear from future UK involvement China’s state-owned nuclear energy company could be blocked from building a nuclear reactor due to rising security concerns over Chinese involvement in critical national infrastructure. Ministers are reportedly looking for ways to move ahead with plans for
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26 Jul 9:36am FirstGroup’s biggest shareholder calls for resignation of CEO
The Guardian
Coast Capital also demands two board members step down over sell-off of US businesses FirstGroup’s biggest shareholder has demanded the resignation of the transport firm’s chief executive and two board members, after failing to prevent the sell-off of its American businesses. Coast Capital, the New York-based hedge fund which owns about 15% of the group, had opposed the $3.1bn sale of the FirstStudent and FirstTransit businesses to Swedish group EQT, arguing the price was too low for the school and city bus services.
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26 Jul 9:04am Updated FTSE 100 and EU markets drop as bitcoin jumps on Amazon speculation – business live
The Guardian
Rolling live coverage of business, economics and financial markets as European stock markets decline after Chinese selloff
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26 Jul 8:36am Water firms in England and Wales can raise prices temporarily to offset Covid costs
The Guardian
Decision by regulator Ofwat comes as utilities struggle with drop in water consumption by businesses
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26 Jul 8:08am Nissan to create 400 jobs at Sunderland car factory
The Guardian
Decision is part of plan to develop £1bn electric vehicle manufacturing hub at site Nissan has announced plans to create 400 jobs at its car plant in Sunderland, weeks after promising to invest £1bn in the site. The Japanese firm, which overtook Jaguar Land Rover to become the UK’s largest carmaker during 2020, said it was looking for staff to build a new electric vehicle as well as models including the Juke, Qashqai and the electric Leaf.
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26 Jul 6:49am Updated FTSE 100 drops after Chinese markets slump on education crackdown – business live
The Guardian
Rolling live coverage of business, economics and financial markets as banks and financial lead declines among London’s blue-chip companies
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26 Jul 6:13am Heathrow wants travel opened up for vaccinated as Covid losses near £3bn
The Guardian
Restrictions and expensive testing requirements are hindering UK’s economic recovery, says airport
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26 Jul 5:05am UK water firms can raise prices temporarily to offset Covid costs
The Guardian
Decision by regulator Ofwat comes as utilities struggle with drop in water consumption by businesses
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26 Jul 4:14am Updated China’s stock market slumps amid crackdown on education and property – business live
The Guardian
Rolling live coverage of business, economics and financial markets as FTSE 100 drops
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26 Jul 3:52am Can we buy a flat and rent it to my son using his benefits?
The Guardian
He has a long-term mental health problem and we don’t want him to keep losing his accommodation
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26 Jul 3:48am Ryanair forecasts 100m passengers in financial year as bookings soar
The Guardian
Airline reports €273m loss for three months to end of June, with Covid-19 continuing to ‘wreak havoc’
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26 Jul 2:00am Can we buy a flat and rent it to my son using by his benefits?
The Guardian
He has a long-term mental health problem and we don’t want him to keep losing his accommodation
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26 Jul 2:00am Barclays refuses to hand over £4,000 after Brexit account closure
The Guardian
My mother in Italy was told her account was to be closed after 40 years. Now she can’t retrieve the balance
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26 Jul 1:00am Over 450 key workers with long Covid tell MPs of their struggles
The Guardian
Nurses, teachers, GPs and police officers among those to give evidence to cross-party inquiry
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25 Jul 7:01pm UK economy growing at fastest rate in 80 years, says forecaster
The Guardian
EY Item Club’s prediction of recovery to pre-pandemic levels by year-end also comes with health warning
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