Business

Self-employed people whose work has been affected by coronavirus will receive a “second and final” grant in August, the government says. More than two million people have applied for a single grant of up to £7,500 so far.They, and other self-employed people, will be eligible for a second payment in August of up to £6,570, Chancellor Rishi Sunak has announced, ...

Britain wants the United States to form a club of 10 nations that could develop its own 5G technology and reduce dependence on China’s Huawei, The Times newspaper reported Friday. The reported proposal comes ahead of a planned G7 summit that US President Donald Trump hopes to host next month. Britain has allowed the Chinese global leader in 5G technology ...

  A borrower’s credit file should be marked if they take a further mortgage holiday, the Nationwide has said. Lenders look at somebody’s credit rating when deciding whether to agree to a fresh loan or contract and the interest rate they will charge. Joe Garner, chief executive of the Nationwide Building Society, said an extension to the mortgage break may ...

British car manufacturing came to a screeching halt in April, down 99.7% against the same month last year. It was the lowest output since the Second World War, according to the industry body, Society of Motor Manufacturers and Traders (SMMT). Just 197 premium and luxury sports vehicles rolled off factory lines, with 45 of those sent to UK customers, BBC ...

May 28 2020. As demands for medical equipment increase during the coronavirus pandemic, Islamic Relief UK is working with CW+, the official charity of the Chelsea and Westminster Hospital NHS Foundation Trust (CWFT), to help support its newly-expanded intensive care facilities, with the financing of new equipment. Funds donated to the charity’s COVID-19 Rapid Response Fund will support Chelsea and Westminster Hospital with ten syringe ...

EU’s executive Commission Ursula von der Leyen A recovery fund worth €750bn (£670bn; $825bn) has been proposed by the EU’s executive Commission to help the EU tackle an “unprecedented crisis”. The package will be made up of grants and loans for every EU member state, BBC reported.Economies across the 27-nation EU bloc have been ravaged by the Covid-19 pandemic, but ...

The French government has announced an €8bn (£7.1bn) rescue plan for its car industry, which has been severely impacted by the coronavirus pandemic. President Emmanuel Macron’s proposal includes €1bn to provide grants of up to €7,000 to encourage citizens to purchase electric vehicles. It also puts money toward investments to make France a centre for electric vehicle output, BBC reported.The ...

LATAM Airlines Group, the largest air carrier in Latin America, filed for Chapter 11 bankruptcy on Tuesday, according to a statement released on its website. Reservations, employee pay, flight vouchers as well as passenger and cargo operations will not be affected, according to the statement. “The U.S. Chapter 11 financial reorganization process provides a clear and guided opportunity to work ...

The first of five Iranian tankers carrying much-needed gasoline and oil derivatives docked in Venezuela on Monday, Caracas announced amid concern in Washington over the burgeoning relationship between countries it sees as international pariahs. In a statement delivered on state television, Oil Minister Tareck El Aissami said the convoy was an expression of the Venezuelan people’s “self-determination” and praised Tehran’s ...

Germany’s highest civil court has ruled that Volkswagen must pay compensation to a motorist who had bought one of its diesel minivans fitted with emissions-cheating software. The ruling sets a benchmark for about 60,000 other cases in Germany. The plaintiff, Herbert Gilbert, will be partially reimbursed for his vehicle, with depreciation taken into account.VW has already settled a separate €830m ...