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Showing posts from November, 2020
Debenhams faces uncertain future as JD Sports quits rescue talks
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Getty Images JD Sports is expected to pull out of talks over a rescue deal for department store chain Debenhams on Tuesday. It was the last remaining bidder for the firm, which is in administration, and up until the end of last week had been closing in on a deal. But retail giant Arcadia is the biggest concession in Debenhams and its collapse is understood to have been a factor in JD Sports' decision. Without a buyer, it could face being wound down, risking thousands of jobs. Debenhams had already cut about 6,500 jobs since May, and now has 12,000 workers across 124 stores. The 242-year-old retailer had been considering a potential sale since the summer after it went into administration in April for the second time in a year. Debenhams hires liquidator in contingency plan Topshop owner Arcadia goes into administration Debenhams to close more stores with the loss of 300 jobs Shareholders in JD Sports reacted badly to the news of the po...
Coronavirus: MPs to vote on tougher tiers for England
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Reuters MPs will vote later on the government's proposals for stricter tiers across England after a debate in the Commons. More than 55 million people will enter the two toughest tiers from 00:01 GMT on Wednesday if the plans are approved. A number of Conservative MPs have criticised the Covid-19 restrictions, saying the "wheels are coming off the government's arguments" to impose them. But with both Labour and the SNP abstaining from the vote, the measures are expected to pass. The government announced last week that its tougher three tiers to tackle the virus would come into force when England's current lockdown ends in the early hours of Wednesday. It will see the country placed into one of three tiers - medium (one), high (two) and very high (three) - but the majority of the population will face the higher range of restrictions. In tier two, people are not allowed to mix with anyone outside their household or support bubbl...
Immigration: Visa applications open under UK's post-Brexit system
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PA Media New immigration rules will be "simple and flexible", ministers have promised, as the UK's points-based post-Brexit system prepares to go live. From Tuesday all foreign nationals, including from the European Union, who want to work in the UK from 1 January will have to apply online for a visa. Those seeking a skilled worker visa will need a job offer, to be proficient in English and earn at least £25,600. Free movement from and to the EU will come to an end on 31 December. The UK left the EU on 31 January but has been largely following its rules during the subsequent 11-month transition period, as the two sides try to reach agreement over a trade deal. As talks continue in London , the UK is stepping up its preparations for leaving the EU's single market and customs union at the end of the year. Brexit: Will the borders be ready? Post-Brexit migration and farming rules become law Foreign butchers and bricklayers 'need...
USD/JPY at Key Resistance, RBA Rate Decision May Set Market Mood
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Dow Jones, USD/JPY, RBA – Talking Points The Dow Jones Industrial Average led US equity indexes higher USD/JPY faces a key resistance level marked by last year’s low RBA interest rate on tap for traders in December’s first session Advertisement U.S. equity indexes slipped lower on Monday but the Dow Jones Industrial Average still managed to close out November with the highest monthly gain in over three decades. The 11.84% climb is the best since January 1987. Equity prices were bolstered by positive Covid vaccine news that is fueling hopes for a sharp economic comeback in 2021. Outside of equities, November has also been a boon for Bitcoin . The c ryptocurrency recently overtook its 2017 peak and may continue higher . Meanwhile, anti-fiat gold prices fell nearly 5.5% in November, the worst monthly performance since 2016. Interestingly enough, the US Dollar managed to weaken alongside the precious metal. The DXY index sank a bit over 2% last month, and is now trading unde...
The Moneyist: My wife pushed me into buying a home because she provided two-thirds of the down payment. Now I’m stuck in a house I hate
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The Moneyist: I paid for my wife’s M.A. and vacations. I suggested we save for a house, but she left me — and my in-laws told me to be a man
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The Moneyist: ‘I lost my mom 2 months ago and I’m still in a fog’: My brother and his family moved into her home. They want more than half
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The Moneyist: My soon-to-be ex-husband placed his money in a trust before we married, and used it to buy properties. Am I entitled to any of these?
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Covid vaccine: Moderna seeks approval in US and Europe
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Getty Images Moderna is filing for US and European emergency regulatory approval of its coronavirus vaccine so that it can be recommended for widespread use. Regulators will look at trial data for the mRNA vaccine and decide if it is safe and effective enough to recommend for roll out. Clinical studies show the jab is more than 94% effective at protecting people from becoming ill with Covid-19. Pfizer, which has a similar jab, has already filed for the same US approval. UK regulators are also reviewing data on the Pfizer vaccine, as well as another type of Covid vaccine from AstraZenca and Oxford University for emergency approval. Moderna says it hopes to gain UK approval soon, now that it has trial data from 30,000 volunteers - including high risk groups like the elderly - that suggests it works. In those studies, 15,000 people received the real vaccine while the other participants got placebo injections. No serious side effects were reported. ...
Covid-19: Drinkers in tier two 'could order Scotch egg' as substantial meal
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Getty Images Drinkers in tier two areas of England could order a Scotch egg with their pint to keep in line with post-lockdown rules, a cabinet minister has said. Under new restrictions from Wednesday, pubs in those high risk areas can only open if they function as a restaurant. And alcohol can only be served as part of a "substantial meal". Environment Secretary George Eustice told LBC Radio that Scotch eggs would constitute such a meal "if there were table service". Pubs and restaurants are currently closed across England, apart from for takeaways. Postcode check - what is your tier from Wednesday? When does lockdown actually end? And other questions Shops allowed to open 24-hours a day over Christmas Mr Eustice said the "substantial meal" provision in tier two was "understood very much by the restaurant trade". He said: "I think a Scotch egg probably would count as a substantial meal if ther...
: Piste-off: EU attempts united front to close ski resorts and prevent COVID
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The Ischgl ski resort in Austria, which became a superspreader locality for coronavirus infections among winter vacationers in March 2020. Getty Images Some governments have ordered the shutdown of all ski resorts, fearing a repeat of earlier this year, when thousands of European tourists were infected in a trendy Austrian ski destination and spread COVID-19 throughout the continent. But others are reluctant to forego crucial business. The French government reiterated its decision to ban all forms of ski lifts in mountain resorts during the Christmas season, after French President Emmanuel Macron announced last week that ski resorts wouldn’t be allowed to reopen. In Italy, where similar measures have been taken by the government, Prime Minister Giuseppe Conte called this week for a coordination at the European level to avoid ending up with different rules in neighboring alpine countries. German Chancellor Angela Merkel said this week that she would “try to get a vote at th...
Peter Morici: Antitrust crackdown on Big Tech could impair U.S. competitiveness
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Europe Markets: European stocks struggle and U.S. futures fall as blockbuster November comes to a close
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: Ericsson and Vodafone have tested ‘safe sky corridors for drones’ with telecom tech
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Autotrader: Are winter tires worth the cost?
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istock Winter doesn’t just mean a wardrobe change for you. For potentially millions of drivers it can also mean a change in what your car is wearing — specifically its tires. Tires are literally where the rubber meets the road, and it’s crucial that these four contact points maintain grip. For many drivers that means swapping the usual all-season tires for winter ones that are especially suited for snowy, slick roads. Is that something you should do? Here are experts’ answers to some common questions. Do I need winter tires? The short answer is: If you live in the snow belt or parts of the country that experience freezing temperatures for about four months out of the year, then yes. If that’s you, swapping to winter tires from December to mid-April is a good idea. Related: 8 easy tasks to make your car safer for winter “In some regions, all-season tires provide adequate traction for the winter months. But when you are dealing with real winter weather, all-season tires are...
Next Avenue: This is what it’s like being in a COVID-19 vaccine trial
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Joe Biden: President-elect fractures foot while playing with dog
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Delaware Humane Association US President-elect Joe Biden has fractured his foot while playing with one of his dogs, his doctor has said. Mr Biden, 78, twisted his ankle on Saturday when he slipped while with Major, one of his two German shepherds. The Democrat visited an orthopaedist in Newark, Delaware, a day later "out of an abundance of caution". His personal physician, Kevin O'Connor, said initial x-rays did not show an "obvious fracture", but ordered a more detailed CT scan. The subsequent scan found that Mr Biden had suffered "hairline fractures" of two small bones in the middle of his right foot, the doctor said. "It is anticipated that he will likely require a walking boot for several weeks," Mr O'Connor said. Biden announces all-female senior press team Trump signals he is prepared to leave White House On Sunday, US President Donald Trump tweeted : "Get well soon!" Mr ...
DAX 30 Index May Fall as Germany Extends Nationwide Partial Lockdown
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DAX 30 Index, German National Lockdown, Coronavirus, Fiscal Aid – Talking Points: End-of-month dynamics made for a relatively mixed APAC trading session. The extension of Germany’s nationwide ‘partial’ lockdown may undermine regional risk assets. However, the provision of additional fiscal aid may soothe investors’ concerns. DAX 30 index probing key resistance. Is a reversal lower in the offing? Advertisement Asia-Pacific Recap Month-end flows made for a mixed day of trade during the Asia-Pacific session, as investors mulled coronavirus vaccine developments. The ASX 200 index fell 1.26% as trade tensions between Australia and China continued to escalate, while Japan’s Nikkei 225 slipped 0.8% lower. China’s CSI 300 index rose 0.64%, buoyed by better-than-expected PMI figures for the month of November. The cyclically-sensitive Australian Dollar clambered back above the 0.7400 mark before retreating lower , after the Trump administration added two Chinese firms – Sem...