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Philips sees return to growth after virus impact

Dutch electronics giant Philips said Monday that net profits fell in the second quarter due to the coronavirus outbreak, but believed it would return to growth in the second half of the year. Philips which recently abandoned its home appliance arm to focus on the health sector, said its net profit sank 14.63 percent year on year to 210 million ...

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UK Cadbury accused of ‘shrinkflation’ as pack size cut

All Cadbury chocolate bars sold in multipacks will shrink by the end of 2021 to reduce their calorie count, owner Mondelez has announced. Popular treats including Crunchie, Twirl and Wispa bars will contain no more than 200 calories each when sold in a four-pack. However, the price will stay the same. Bars sold individually will not change, BBC reported. Chocolate ...

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ICC, ITUC, Global Citizen for action on debt relief

The global business, workers and civil society have called for comprehensive emergency debt relief to enable all countries in need to combat the COVID-19 pandemic. In this regard, the ICC, ITUC and Global Citizen call for greater action by G20 Governments on sovereign debt relief. In an open letter issued on July 16, the International Chamber of Commerce (ICC), the ...

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World faces staggering jobs challenge, says Microsoft president

The world is facing a staggering jobs challenge with a quarter of a billion people set to lose their job this year, the president of Microsoft has said. Brad Smith says millions will need to learn new skills to get jobs, or even to hang on to their old one, as the digitisation of economies races ahead. Microsoft recently announced ...

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British Airways retires entire 747 fleet after travel downturn

British Airways has said it will retire all of its Boeing 747s as it suffers from the sharp travel downturn. The UK airline is the world’s largest operator of the jumbo jets, with 31 in the fleet. “It is with great sadness that we can confirm we are proposing to retire our entire 747 fleet with immediate effect,” a BA ...

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UK payrolls shrink by 649,000 jobs in coronavirus lockdown

The number of workers on UK company payrolls fell by 649,000 between March and June, official figures indicate. The overall jobless rate was unchanged but there are 47,000 more young people unemployed than there were a year ago. Unemployment has not surged, as many feared, because large numbers of firms have put employees on the government-backed furlough scheme. But economists ...

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UK Banks propose ‘student loans style’ scheme to avert job losses

UK banks fear that up to 800,000 businesses could go bust in the next year if they are unable to defer repayments on government-backed loans. The lending industry is proposing a student loans-type scheme, where coronavirus loans can be converted into a tax debt repayable over a decade. Like student loans, the money would only be repayable when and if ...

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Biman, Novoair sign deal to carry each other’s passengers

The national flag carrier Biman Bangladesh Airlines and one of the country’s private airlines Novoair signed a special re-protection agreement (SRA) on Wednesday for carrying each other’s passengers on domestic routes. As per the agreement, both the airlines will carry passengers to each other’s domestic destinations in the incident of flight disruptions or delay while passengers connecting international destinations will ...

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Coronavirus: France’s health workers given pay rises worth €8bn

The French government has agreed to give pay rises worth €8bn (£7.2bn; $9bn) to health workers, as it hailed their role in fighting coronavirus. The deal was signed with trade unions on Monday after seven weeks of fraught negotiations. Health workers have been revered as heroes during the pandemic with regular displays of public appreciation. But they wanted more than ...

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£705m boost for Britain’s Brexit border checks

A £705m funding package to boost infrastructure and recruit more staff on Britain’s border has been announced as the UK prepares to leave the EU customs union at the end of the year. Plans include new border control posts and 500 extra Border Force staff. Cabinet Office Minister Michael Gove said the move would help the UK “seize the opportunities” ...

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