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Bloomberg Britain’s mounting labour market crisis was underscored by a 220,000 slump in employment during the height of the coronavirus lockdown, the worst decline since the global financial crisis. The fall in the second quarter coincided with a period that saw the most strict restrictions to contain the spread of the disease. The Office for National Statistics said early indicators ...

Bloomberg President Donald Trump’s decision to extend a student-loan freeze will take away a financial risk for tens of millions of US households, who now won’t have to resume paying back about $1.2 trillion of debt until at least 2021. The measure, one of four executive actions Trump took on August 8, keeps both repayments and the accumulation of interest ...

Bloomberg Hertz Global Holdings Inc. is seeking debtor-in-possession financing more than two months after filing for Chapter 11 protection, reflecting the reality that it still faces trouble ahead if travel doesn’t bounce back. The bankrupt rental-car giant said it is looking for new sources of cash with the travel business in a deep slump and proceeds from the sale of ...

Bloomberg Mark Carney, the only person to run two major nations’ central banks, is helping Justin Trudeau craft next steps in a plan to pull Canada out of a deep recession sparked by the coronavirus. Five months after stepping down as Bank of England governor, Carney has become an informal adviser on policy matters with the Canadian prime minister. Trudeau ...

Bloomberg Finland will quarantine travellers from most of the world to halt the spread of Covid-19. Just 25 countries are currently exempt from the mandatory quarantine, Krista Kiuru, minister for family affairs and social services, told reporters. Passengers who fail to comply face at most three months jail time or a fine and airlines will be required to disclose transit ...

Bloomberg Visa sold bonds at a record low yield as it became the first consumer finance company to issue debt to fund environmentally friendly projects. The world’s largest payments network, sold $3.25 billion of debt in three parts. The shortest portion of the deal is a seven-year green note with at 0.75% coupon, sliding past Google parent Alphabet Inc.’s record ...

ABU DHABI / WAM His Highness Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region and Chairman of the Emirates Red Crescent (ERC) has directed the ERC to support orphans who have lost their families in the explosion in Beirut, as well as the families of other victims. HH Sheikh Hamdan also instructed the ERC to provide ...

Bloomberg Oil snapped a two-day losing streak as Saudi Aramco predicted demand will continue to improve through the rest of the year, despite many regions across the world struggling to bring the coronavirus under control. Crude consumption in Asia is almost back to pre-virus levels, Aramco Chief Executive Officer Amin Nasser said. Meanwhile, oil drilling in the US falls to ...

Abu Dhabi / WAM The Federal Authority for Identity and Citizenship (ICA) issued a decision to extend the deadline for holders of expired entry permits and visas from August 11 for one month, to enable them to leave the country and exempt them from all resulting fines. The authority’s decision is part of the national initiatives launched by UAE and ...

DUBAI / WAM Dubai’s tourism and hospitality sectors are benefitting from a rapid rebound driven by a multi-phase roadmap being executed by the Department of Tourism and Commerce Marketing, Dubai Tourism. “Dubai continues to take effective steps under the guidance of the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the ...