UK MANUFACTURERS TO GET BIG CONCESSION ON POST-BREXIT QUALITY MARK

UK MANUFACTURERS TO GET BIG CONCESSION ON POST-BREXIT QUALITY MARK

The UK government is to grant a major concession to British business by prolonging the deadline for companies to adopt a new “UKCA” safety and quality mark for their goods after Brexit. The one-year extension for UK products to continue using the EU’s “CE” safety mark came after businesses warned that they would not be ready for the planned post-Brexit shift away from EU certification at the end of 2021. The government climbdown will give vital breathing space for UK manufacturers, which had warned over risks to the British supply…

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US jobs gets marginally better as hiring strengthens

US jobs gets marginally better as hiring strengthens

The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low, the latest sign that America’s job market is rebounding from the pandemic recession as employers boost hiring to meet a surge in consumer demand. The Labor Department reported Thursday that jobless claims fell by 29,000 to 348,000. The four-week average of claims, which smooths out week-to-week volatility, also fell — by 19,000, to just below 378,000, also a pandemic low. The weekly pace of applications for unemployment aid has fallen more…

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IBM temporarily closes its New York office due to rise in Covid-19

IBM temporarily closes its New York office due to rise in Covid-19

International Business Machines Corp. is temporarily closing its offices in New York City amid rising Covid-19 cases in the Big Apple, but the company stopped short of delaying plans to reopen other U.S. locations by September. Employees were notified on Wednesday that New York City offices will be open for essential staff only, an IBM spokeswoman said in a statement, citing “current clinical conditions” that “do not meet IBM’s health and safety protocols.” IBM’s decision comes as the delta variant spurs companies to re-evaluate return-to-work plans as infections spike across…

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US dollar will still control Afghanistan even after US troops pull out

US dollar will still control Afghanistan even after US troops pull out

The Taliban may have swept Afghanistan, but they haven’t yet conquered its financial system, big parts of which rest on support from outside the country. The U.S. has a heavy hand in the multilateral organizations that dictate the flow of international aid upon which this shaky economy relies. Americans may be evacuating, but the dollar’s influence will remain. The International Monetary Fund, whose largest shareholder is the U.S., denied the Taliban access to reserve assets Wednesday, days before Afghanistan was set to receive almost $500 million. That came a day…

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Denmark Is Listed As The Best Country For Business

Denmark Is Listed As The Best Country For Business

Denmark, the Scandinavian country squished between Germany and Sweden, is ranked the easiest place to do business in the world, according to the recently published Global Business Complexity Index 2021. The report explains: “In Denmark, you can incorporate a company within a day,due to the fact that there is one single entry point for all registrations, and all necessary bodies and organisations are automatically notified.”France came second to worst of the 77 countries ranked. “France’s place as the second most complex jurisdiction is driven by complexities in accounting and tax…

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Eyeing IPO, Volvo cars posts record results, top pre-pandemic levels

Eyeing IPO, Volvo cars posts record results, top pre-pandemic levels

STOCKHOLM, July 23 – Volvo Cars reported a return to profit in the first half as demand for electric cars pushed earnings above pre-pandemic levels, putting the carmaker on a firmer footing as it considers a possible IPO this year. Sweden-based Volvo, owned by China’s Geely Holding (GEELY.UL), said on Friday it made a first-half profit of 13.24 billion Swedish crowns ($1.52 billion), more than double its profit of 5.52 billion crowns in the corresponding period of 2019, before the coronavirus struck. Like several other automakers Volvo has been forced…

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US ‘still digging out of an economic collapse,’ but on ‘right track’: Biden reacts to weak jobs report

US ‘still digging out of an economic collapse,’ but on ‘right track’: Biden reacts to weak jobs report

President Biden on Friday said the country is “still digging out of an economic collapse” amid the coronavirus pandemic, but that the U.S. is on the “right track,” as the administration reported that the economy created just 266,000 jobs in April, and saw rising unemployment. Biden, speaking from the White House, said he took office during a “once-in-a-century pandemic and a once-in-a-generation economic crisis.” He continued, “We knew this wouldn’t be a sprint—it would be a marathon.” The April jobs report released Friday showed the U.S. economy heavily missed Wall…

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US passes emergency legislation after fuel pipeline cyber-attack

US passes emergency legislation after fuel pipeline cyber-attack

The US government issued emergency legislation on Sunday after the largest fuel pipeline in the US was hit by a ransomware cyber-attack. The Colonial Pipeline carries 2.5 million barrels a day – 45% of the East Coast’s supply of diesel, gasoline and jet fuel. It was completely knocked offline by a cyber-criminal gang on Friday and is still working to restore service. The emergency status enables fuel to be transported by road. A total of 18 states have been granted a temporary hours of service waiver for transporting gasoline, diesel,…

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Biden to support waiver of intellectual property rights of Covid-19 vaccines

Biden to support waiver of intellectual property rights of Covid-19 vaccines

President Joe Biden on Wednesday backed the U.S. entering negotiations at the World Trade Organization for the waiver of intellectual property rights as a means to boost vaccine supplies by allowing poorer countries to make their own. It won’t speed the manufacture of vaccines. It enraged the developers who delivered lifesaving doses in record time. But President Joe Biden’s decision to support waiving intellectual property rights for coronavirus shots had a broader purpose: to broadcast his administration’s commitment to global leadership. More than a month of internal debate led up…

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U.S. Congress passes $1.19 trillion COVID-19 relief bill

U.S. Congress passes $1.19 trillion COVID-19 relief bill

In a massive and early victory for the Democrats, the House of Representatives approved 220-211 a $1.9 trillion COVID-19 relief bill, voting almost entirely along party lines. The bill, having already passed the Senate, will be signed into law by U.S. President Joe Biden on Friday. “Help is here,” Mr Biden tweeted shortly after the House had voted on the American Rescue Plan. He called the bill – which is one of the largest stimulus measures on record — a “historic victory” for the American people. Eligible Americans will receive…

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