Trump bans US investments in firms controlled by Chinese military November 12, 2020 Donald Trump has signed an executive order banning U.S. investments in Chinese firms that Washington says are owned or controlled by its military. The order could impact some of China’s biggest companies, including telecoms firms China Telecom Corp Ltd, China Mobile Ltd and surveillance equipment maker Hikvision. The move is designed to deter U.S. investment [...]
U.N chief to push G20 to further expand debt service suspension November 12, 2020 United Nations secretary-general António Guterres will push G20 leaders to expand debt service suspension to help developing and middle-income economies recover from the coronavirus pandemic. Addressing a virtual annual ministerial meeting attended by the Group of 77 – a collection of 134 developing countries – plus China, Guterres said: “Many developing countries are suffering from [...]
ECB turns to emergency bonds and ultra-cheap loans to control financial costs November 12, 2020 The ECB will use its emergency bond-buying and ultra-cheap loans to banks as the primary instruments to control financing costs, European Central Bank president Christine Lagarde told the ECB’s annual forum on central banking this evening. The EU heavyweight said financing costs for governments, households and businesses in the eurozone will stay “exceptionally favourable” until [...]
New FCA chief tells City: ‘We are committed to open markets’ post-Brexit November 12, 2020 The Financial Conduct Authority (FCA) is committed to maintaining open financial markets following the end of the Brexit transition period, warning that not doing so will disrupt the city. Speaking today at Mansion House in an address to city regulators, new chief executive Nikhil Rathi said the watchdog had been keeping its focus on readiness [...]
Home meal kits can help save hospitality now – and will be here long after Covid November 12, 2020 The hospitality industry has always had to adapt and move with the times. We’ve seen cycles of gastropubs, fine dining restaurants with white table clothes, American diners, with each generation of new chefs tweaking and perfecting the formula. But while these are trends driven by changing fashions, Covid means the industry must innovate to survive. [...]
G4S and Gardaworld trade blows as takeover spat continues November 12, 2020 G4S and Gardaworld have exchanged fresh blows as a long-running spat over a potential hostile takeover of the British security firm drags on. This morning the Canadian firm, which has been trying to engineer the purchase of G4S for months, said that North American regulators had cleared the way for the merger to go ahead. [...]
Parthe-nope: Travel corridors opened to eight countries but Greece removed November 12, 2020 A raft of new countries have been added to the UK’s travel corridor list, meaning people will not have to self isolate upon returning from them. Iceland, Chile, Cambodia, Qatar, Bahrain, the UAE, Laos, and Turks and Caicos have all been added to the quarantine free travel list. Those arriving from the countries from Saturday [...]
Moody’s downgrades credit ratings of UK’s largest airports November 12, 2020 Three of the UK’s largest airports have had their credit ratings downgraded by Moody’s as the pandemic continues to hammer global air travel. Heathrow Finance, which owns the UK’s biggest airport, has had its corporate family rating reduced from Ba1 to Ba2. Obligations rated at Ba2 are judged to have speculative elements and are subject [...]
Editorial: Downing Street’s political infighting mirrored in Brexit strategy November 12, 2020 Downing Street's political infighting mirrored in Brexit strategy
Councils pile pressure on firms over unpaid business rates during pandemic November 12, 2020 Local authorities have begun to turn up the heat on businesses that have been unable to pay rates bills during the pandemic, with some pursuing claims through the courts. According to property consultancy Colliers International, an increasing number of clients are receiving letters demanding payment or court summons. Office occupiers were not granted a business [...]
