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Suspected fraud flagged on UK COVID-19 loans jumps 43%
  + stars: | 2023-09-14 | by ( ) www.reuters.com   time to read: +1 min
The latest figures from the Department for Business and Trade showed the level of suspected fraud as of June 30. The figure was up from the previous level of 1.18 billion pounds flagged at the end of March. Identified fraud levels have ticked up as banks look into further COVID-19 loans as they fall due. The figures show the government has paid out 7.39 billion pounds to lenders to date under the guarantees, while 17 billion pounds has been fully repaid by borrowers. Nearly 31 billion pounds' worth of loans are outstanding from borrowers still making payments on time, the data shows.
Persons: Britain's, Toby Melville, Banks, Iain Withers, Angus MacSwan Organizations: REUTERS, Department for Business, Trade, Thomson Locations: London, Britain, COVID
Sept 14 (Reuters) - Harry Maguire said he can deal with hostile treatment from opposition supporters and that it takes the pressure off his England team mates after the defender was mocked by Scotland fans following his own goal on Tuesday. Maguire described his treatment by Scottish fans as "a little bit of banter". "It pretty much takes the pressure away from my team mates and puts it all on myself," he told British media after England's 3-1 win. Maguire, who joined United from Leicester City for 80 million pounds ($99.94 million) in 2019, was stripped of the club captaincy by manager Erik ten Hag in July. ($1 = 0.8005 pounds)Reporting by Pearl Josephine Nazare in Bengaluru; Editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.
Persons: Harry Maguire, Maguire, Erik ten Hag, didn't, Pearl Josephine Nazare, Peter Rutherford Organizations: England, Scotland, Manchester United, United, Leicester City, Premier League, Thomson Locations: Manchester, Glasgow, England, British, Old Trafford, Bengaluru
A representative for Co-op Bank declined to comment. The sale is being closely watched as one of the first examples of long-touted consolidation among Britain's midsize lenders. Co-op Bank had a book value of 1.3 billion pounds ($1.6 billion) at the end of December. Despite interest from financial investors, Co-op Bank is more focused on a deal with a competitor, two people said. Aldermore, OSB, Paragon and Shawbrook declined to comment.
Persons: Toby Melville, Aldermore, JC Flowers, Bain, Pablo Mayo Cerqueiro, Andres Gonzalez, Anousha Sakoui, Sharon Singleton Organizations: Bank, REUTERS, Reuters, Paragon Banking Group, Paragon, Bain Capital, Co, Fenchurch Advisory, PJT Partners, Thomson Locations: London, British, Aldermore
BP succession fail puts spotlight on its board
  + stars: | 2023-09-14 | by ( George Hay | ) www.reuters.com   time to read: +4 min
But the surprise departure of former leader Bernard Looney the previous day reflects poorly on the company’s board. Looney’s resignation, after failing to fully disclose details of past relationships with colleagues, appears to have caught BP by surprise. That’s embarrassing for the board, whose responsibilities include planning for succession in case something happens to the CEO. Auchincloss told staff in a brief town hall meeting on Sept. 13 that the company’s aims were unchanged. And our focus remains on performance – quarter by quarter,” Auchincloss, who was previously chief financial officer, told staff, according to a company spokesperson.
Persons: Dado Ruvic, Murray Auchincloss, Helge Lund, Bernard Looney, Debra Crew, Ivan Menezes, Looney, John Browne’s, Browne, Tony Hayward, Hayward, Lund, Bernard Looney’s, Auchincloss, hasn’t, ” Auchincloss, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, Interim, Diageo, BP, Irish, Thomson Locations: British
LONDON, Sept 14 (Reuters) - The euphoria that greeted the start of Newcastle United's season has been replaced by a sense of deflation after three successive Premier League losses has left them 14th in the table. "It's never been lost on me how difficult the Premier League is," Howe said after the Brighton defeat. MASTER GUARDIOLAWhile juggling the demands of the Premier League and the Champions League will be new for Howe, Manchester City manager Pep Guardiola has mastered the art. These are heady days for fourth-placed West Ham with a Europa League campaign starting next week, but they have not enjoyed a Premier League win at home to City since 2014. West Ham are one of four teams on 10 points.
Persons: Eddie Howe's, Sandro Tonali, Howe, It's, GUARDIOLA, Pep Guardiola, Ange Postecoglou, Mauricio Pochettino, Martyn Herman, Ken Ferris Organizations: Newcastle, Premier League, Champions League, Aston Villa, Manchester City, Brighton & Hove Albion, AC Milan, Brentford, Brighton, Red Star, West Ham United, Leaders City, Europa League, Tottenham Hotspur, Sheffield United, Liverpool, Wolverhampton Wanderers, Fifth, Arsenal, Everton, Sunday, Manchester United's, Spurs, Chelsea, Bournemouth, Thomson Locations: Liverpool, Milan, Newcastle, Howe, Manchester, Red Star Belgrade, West Ham, City, Sunday's
Prosecutors say that in past years Mr. Winkler exceeded the limit on fluke, a spotted flat fish also known as summer flounder, by at least 200,000 pounds, and caught more black sea bass than was allowed. He is accused of making hundreds of thousands of dollars in illicit deals with of one of Montauk’s most venerable seafood institutions, Gosman’s. Gosman’s Dock boasts sprawling restaurants and retail stores in addition to its wholesale business. That could change soon: Gosman’s Dock is up for sale, priced at $45 million. His lawyers barred him from discussing the particulars of the case, or his motivations for fighting the government.
Persons: Winkler, Bryan, Asa Gosman Locations: Long, Montauk
A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. REUTERS/Maja Smiejkowska/File Photo Acquire Licensing RightsCompanies Bank Of England FollowLONDON, Sept 13 (Reuters) - The government should check that insurers are spending up to 100 billion pounds ($125 billion) on Britain's economy after their capital rules were eased, Bank of England Deputy Governor Sam Woods said on Wednesday. "I think it may happen, but I can't guarantee it," Woods told a sub-committee of parliament's Treasury Select Committee. The finance ministry overrode the Bank of England to ease some capital rules more than Woods had wanted, which could make an insurance company failure more likely. This means insurers will have more money to invest, currently only a modest part of their portfolios is in infrastructure, Gerken said.
Persons: BoE, Maja Smiejkowska, Sam Woods, Woods, Charlotte Gerken, Gerken, Huw Jones, Alexander Smith Organizations: Bank of England, REUTERS, Bank, Association of, Thomson Locations: London, Britain
Richarlison to seek psychological help on return to England
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +1 min
Sept 13 (Reuters) - Tottenham Hotspur's misfiring forward Richarlison said he will seek psychological help on his return to England after shedding tears when he was substituted during Brazil's 5-1 thrashing of Bolivia last Friday. The 26-year-old Brazilian was photographed crying on the bench after being taken off 71 minutes into the 2026 World Cup qualifier in Belem. "Now things will start to flow and I'm sure I'll have a good run at Tottenham and make things happen again. "I'm going to return to England and seek psychological help, from a psychologist, to work on my mind. ($1 = 0.8005 pounds)Reporting by Alan Baldwin in London, editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.
Persons: Tottenham Hotspur's, Richarlison, Ange Postecoglou, Alan Baldwin, Toby Davis Organizations: Tottenham, Premier League, O Globo, Australian, Everton, Thomson Locations: England, Bolivia, Belem, London
"It feels like we've passed the peak of pessimism about the UK," said Daniel Lockyer, senior fund manager at 7 billion-pound investment and advice group Hawksmoor Investment Management, which increased its exposure to UK companies in August. Consumer stocks are outperforming as investors bet on the UK cost of living crisis becoming less intense. Reuters Graphics Reuters GraphicsLeigh Himsworth, UK fund manager at Fidelity International, said he was "trying to pick off UK retailers we can buy", while it was also "time to pick up some of the (UK) real estate sector." But while noting good economic reasons to call an upturn for UK stocks, fund managers also stressed the need for further steps from policymakers to revive interest in British equities. Premier Miton is lobbying policymakers to introduce a new tax-efficient investment vehicle for UK stocks.
Persons: Toby Melville, we've, Daniel Lockyer, Morningstar, Martin Walker, Walker, Samuel Tombs, Reuters Graphics Reuters Graphics Leigh Himsworth, Spencer, Neil Birrell, Premier Miton, Miton, Savvas Savouri, Naomi Rovnick, Dhara Ranasinghe, Sharon Singleton Organizations: London Stock Exchange, REUTERS, Inflation, LONDON, Apple, FTSE, Investment Management, Global, Reuters, Bank of England, Reuters Graphics Reuters Graphics, Fidelity International, Premier, Fidelity, Thomson Locations: Canary Wharf, London, Britain, U.S, COVID, outflows
H&M to sell second-hand clothes at London flagship
  + stars: | 2023-09-13 | by ( ) www.cnbc.com   time to read: +2 min
People passing a large scale sign for the high street clothes and clothing brand H&M outside their flagship store on the corner of Oxford Street and Regent Street. H&M plans to sell second-hand clothes and accessories at its flagship store in London from Oct. 5, as pressure increases on fast fashion companies to curb their environmental impact by encouraging the reuse and recycling of garments. It will be the second H&M store to offer second-hand clothes, after Barcelona which opened earlier this year. H&M launched a clothing rental service at its Regent Street store in November last year. Zara last week launched its online second-hand service in France, having trialed it in Britain since November last year.
Organizations: Oxford Street, Regent, European Union, M's Locations: London, United Kingdom, Cos, Monki, Barcelona, Sweden, Germany, Europe, United States, Zara, France, Britain
SACRAMENTO, Calif. (AP) — Legislative workers at the California Capitol are close to forming their first labor union after state lawmakers approved a bill Wednesday that allows them to organize. But despite California lawmakers' pro-union stance, the people who work for them have never been allowed to form a union. An attempt to do so last year failed to get a vote in the state Assembly. INVOLUNTARY SERVITUDEThe state Assembly approved a proposal to change the state constitution to remove exemptions to involuntary servitude as a punishment for crime. The proposal would have to get a two-thirds vote in the state Senate, which doesn’t plan to vote on it until next year.
Persons: Gavin Newsom, , Tina McKinnor, , , Newsom, Assemblymember Carlos Villapudua, Villapudua, James Gallagher, doesn’t, Sen, Shannon Grove, Chris Ward, ” Ward, ___ Sophie Austin, Austin @sophieadanna Organizations: , California Capitol, Legislature, Democratic Gov, Legislative, Democratic, Republican, Democrats, FOSTER, Associated Press, America Statehouse News Initiative, America Locations: SACRAMENTO, Calif, California, Newsom’s
H&M to sell second-hand clothes at London store
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +1 min
LONDON, Sept 13 (Reuters) - H&M (HMb.ST) plans to sell second-hand clothes and accessories at its flagship store in London from Oct. 5, as pressure increases on fast fashion companies to curb their environmental impact by encouraging the reuse and recycling of garments. It will be the second H&M store to offer second-hand clothes, after Barcelona which opened earlier this year. H&M also has an online second-hand offering in Sweden and Germany. H&M launched a clothing rental service at its Regent Street store in November last year. Zara (ITX.MC) last week launched its online second-hand service in France, having trialled it in Britain since November last year.
Persons: Helen Reid, Alison Williams Organizations: European Union, M's, Regent, Thomson Locations: London, Cos, Monki, Barcelona, Sweden, Germany, Europe, United States, Zara, ITX.MC, France, Britain
Man Utd confirm Qualcomm's Snapdragon as new shirt sponsor
  + stars: | 2023-09-13 | by ( ) www.reuters.com   time to read: +2 min
United signed a five-year deal with German tech firm TeamViewer in 2021 to be their principal shirt sponsor, replacing Chevrolet. It added that it would undertake a focused sales process in a "normalised market", having agreed the TeamViewer deal at the height of the COVID-19 pandemic. "Manchester United has agreed to an expanded strategic collaboration with Qualcomm Technologies, Inc., that will see the Snapdragon brand displayed on the front of the club's famous shirt," United said in a press release late on Tuesday. "Qualcomm Technologies is already a global partner of Manchester United, promoting its Snapdragon brand. United signed a 900 million pounds deal with Adidas in July, renewing their partnership with its official kit supplier for 10 more years.
Persons: Dado Ruvic, United, Pearl Josephine Nazare, Peter Rutherford Organizations: Qualcomm, REUTERS, Manchester United, Premier League, Athletic, United, Chevrolet, Qualcomm Technologies, Inc, Adidas, Thomson Locations: U.S, Trafford, Manchester, Bengaluru
All-new: 2024 GMC Acadia The show's one big new model reveal came as General Motors unveiled the completely redesigned 2024 GMC Acadia on Wednesday morning. 2024 GMC Acadia GMProduction of the 2024 Acadia is expected to begin early next year at a plant in mid-Michigan, with vehicles slated to hit dealer showrooms during the first quarter. The company revealed its refreshed 2024 F-150 pickup truck lineup Tuesday night to a large crowd in downtown Detroit, not far from the show floor. Jeep unveiled a refreshed 2024 version of its Gladiator pickup in Detroit on Sep. 13, 2023. Not surprisingly, the Gladiator's new grille is very similar to the revamped grille that the Wrangler itself will be sporting for the 2024 model year.
Persons: it's, Duncan Aldred, wasn't, Ford, Jim Farley, John Emmert, Motors, Cadillac, Alex MacDonald, Gladiator, Stellantis, Jim Morrison Organizations: DETROIT, Detroit, United Auto Workers, Detroit Auto, North American, CNBC, General Motors, Acadia, GMC, GMC Acadia GM, GM, Chevrolet Traverse, Buick, CT5, Cadillac CT5, Google, Jeep, Apple Locations: Acadia, Michigan, U.S, Yukon, Detroit, Toledo ., North America
LONDON (AP) — Global energy giant BP, one of Britain’s biggest and most recognizable companies, is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct. BP conducted an internal review last year after receiving allegations about personal relationships between Looney and other company employees. “The company has strong values and the board expects everyone at the company to behave in accordance with those values,” BP said. Looney had spent his entire career at BP after joining the company as an engineer in 1991. Soon after becoming CEO, Looney set a goal of achieving net zero emissions by 2050 — in line with goals then adopted by the U.K. government.
Persons: Bernard Looney, Looney, Murray Auchincloss, , , Bob Dudley, Harvey Weinstein, Jess Staley, Jeffrey Epstein, Jeff Shell Organizations: , BP, London Stock Exchange, Greenpeace, Barclays, . Locations: Ukraine
A pint of beer may cost more during peak hours at some pubs owned by Britain’s largest pub company, which has in recent weeks adopted surge pricing. About 800 of the 4,000 pubs owned by the company, Stonegate Group, are either using “dynamic pricing,” in which prices rise at times of increased demand, or may use it in the future to help cope with higher costs for staffing and licensing requirements, Maureen Heffernan, a spokeswoman for Stonegate, said on Tuesday. Stonegate owns the popular pub chains Slug & Lettuce and Craft Union. Ms. Heffernan said that the timing of surge pricing, in which a pint of beer would cost about 20 pence (25 cents) more, would vary by pub, but that generally prices would be higher on weekends and evenings. In July, the average price for a pint of draft lager was 4.31 pounds (about $5.37), up from £4 a year earlier, according to Britain’s Office for National Statistics.
Persons: Maureen Heffernan, Stonegate, Ms, Heffernan Organizations: Britain’s, Stonegate, Craft Union, National Statistics
An Aviva logo on the window of the company's head office in the city of London, Britain March 7, 2019. REUTERS/Simon Dawson/File Photo Acquire Licensing RightsLONDON, Sept 13 (Reuters) - Aviva (AV.L) is quitting its Singlife joint venture, selling its 25.9% stake in Singapore Life Holdings and two debt instruments to Sumitomo Life for a combined 800 million pounds ($997 million), the British insurer said on Wednesday. The transaction is expected to be completed in the fourth quarter of 2023, Aviva said. The Singlife joint venture contributed 17 million pounds to Aviva's operating profit in 2022, the statement said. Sumitomo Life already has a 23.2% stake in Singlife, the statement added.
Persons: Simon Dawson, Amanda Blanc, Elizabeth Howcroft, Lucy Raitano, Sinead Cruise, David Goodman Organizations: Aviva, REUTERS, Singapore Life Holdings, Sumitomo Life, Sumitomo, Thomson Locations: London, Britain, Singapore, Ireland, Canada, Singlife
If you’re flying with Japan Airlines, the answer could be nothing at all. Called Any Wear, Anywhere, the service runs through the end of August 2024 and Japan Airlines says it could cut carbon emissions by reducing the weight carried by its airplanes. The true impact of the trial will only be revealed at the end, once Japan Airlines tallies the weight savings and calculates the exact reduction in emissions. However, Japan Airlines must be able to see a statistically significant reduction in baggage weight, says Gary Crichlow, an aviation analyst at consulting firm AviationValues. Moriya shares this ambition and hopes to expand the partnership with Japan Airlines to other members of the OneWorld Alliance, which includes American Airlines, British Airways and Quantas – and then to other alliances.
Persons: I’ve, , Miho Moriya, Moriya, we’re, Gary Crichlow, , that’s, Nina Gbor, It’s, ” Gbor, Organizations: CNN, Japan Airlines, Sumitomo, Qantas, OneWorld Alliance, American Airlines, British Airways Locations: Japan, United States, Australia
SANTA FE, N.M. (AP) — A wandering bull moose was captured in downtown Santa Fe and relocated to a suitable habitat in northern New Mexico, authorities said. State Game and Fish officials and Animal Service Officers for the city said the moose was spotted about 8 a.m. Tuesday near Fort Marcy Park. Authorities said a bull moose can be aggressive toward humans and pets, especially during the breeding season, which begins in late September. Political Cartoons View All 1157 ImagesDepartment biologists estimate the moose weighed more than 900 pounds (400 kilograms) and was 4 to 5 years old. Game and Fish officials said moose are a protected game animal in New Mexico and there is not an open hunting season for them.
Organizations: SANTA FE, Fish, Animal Service, Authorities, Fish Department Locations: SANTA, Santa Fe, New Mexico, Fort Marcy
Elon Musk spent Christmas Eve moving X's data servers from one facility to another. The facility was a major cost for X, according to Musk's new biography penned by Walter Isaacson. The next day, Christmas Eve, Musk called in reinforcements including friends from Tesla, SpaceX, and The Boring Company to procure equipment and tools needed to move the servers. Musk later admitted the "whole Sacramento shutdown was a mistake," after the lack of servers caused a whole host of issues. Isaacson wrote that Musk's Sacramento incident was "an example of his recklessness, his impatience with pushback, and the way he intimidated people."
Persons: Elon Musk, Walter Isaacson, Isaacson, Elon, X —, Musk, , H, James, Andrew Musk, Austin, Alex, Steve Davis, Ron Desantis, pushback Organizations: Service, CNBC, Twitter, NTT —, SpaceX, The, Company, Boring Company Locations: Wall, Silicon, Sacramento, Portland , Oregon, Portland, San Francisco, Uzbekistan
Standing around three feet high, the modern koala is roughly 25 pounds of claws and teeth, tufty ears and fluffy white marsupial tummy. You could give one a hug — experts suggest that they prefer it if you don’t — but you wouldn’t want to carry it around all day. Now imagine that same koala, or one quite like it, weighing in at a much more manageable (and potentially cuter) six pounds. Researchers at Flinders University in Adelaide, Australia, believe that such a creature, named Lumakoala blackae, once made its home in the country’s Northern Territory some 25 million years ago, most likely spending its days snacking on soft leaves and the occasional insect. Their research, based on the discovery of fossilized molars at the Pwerte Marnte Marnte fossil site in the Australian outback, was published in the journal Scientific Reports this month.
Persons: Lumakoala blackae Organizations: Flinders University Locations: Adelaide, Australia, Northern Territory
RTX said on Monday it would have to pull 600 to 700 of its Pratt & Whitney Geared Turbofan (GTF) engines from Airbus A320neo jets for quality inspections over the next three years. The engine issue was first disclosed in July, but RTX made the extent of the problem clearer on Monday. The announcement caused waves up and down the industry, from component manufacturers like Japan's Kawasaki Heavy Industries to airline carriers like Germany's Lufthansa that rely on the popular Airbus jets. In July, RTX said microscopic contaminants were found in a powdered metal used in high-pressure turbine discs that are part of the GTF engine's core. RTX is one of two manufacturers of engines for the popular narrowbody Airbus A320neo, the other being CFM International, a joint venture between GE (GE.N) and Safran (SAF.PA).
Persons: Benoit Tessier, RTX, Guillaume Faury, Ken Herbert, Japan's IHI, Safran, Valerie Insinna, Rajesh Kumar Singh, Abhijith, Aniruddha Ghosh, Mehr Bedi, David Gaffen, Arun Koyyur Organizations: Raytheon Technologies Corporation, International Paris Air, Le, REUTERS, Aerospace, Airbus, Pratt & Whitney, Washington D.C, Japan's Kawasaki Heavy Industries, Lufthansa, Raytheon, United Technologies, Capital, AIRLINES, HIT Aerospace, London, Melrose Industries, Kawasaki Heavy Industries, Aero, Air New Zealand, Singapore Airlines, Wizz, Airbus A320neo, CFM International, GE, Thomson Locations: Le Bourget, Paris, France, Washington, RTX, New Delhi, Bengaluru
The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. REUTERS/Phil Noble/File Photo Acquire Licensing RightsMELBOURNE, Sept 12 (Reuters) - Ionic Rare Earths (IXR.AX) said on Tuesday it has received UK government investment to build a commercial rare earth magnet recycling facility in Belfast that will supply Ford's (F.N) electric vehicle production facilities in the country. The UK government will support the partnership with an investment of £2 million ($2.50 million) as part of its push to support circular economy magnet rare earths, as the West diversifies supply chains away from China which produces almost all the world's magnet supply. Rare earths are the most magnetic of all metals, used in applications from wind farms to EVs to defence. To support production at this facility there will be a requirement for over 600 tonnes of magnet raw material per annum, it said in the release.
Persons: Phil Noble, Simon Palmer, Ford, Melanie Burton, Michael Perry Organizations: Ford, REUTERS, Rights, Metals, Ford’s European Union, Thomson Locations: Liverpool, Britain, Belfast, China
Yenchun Chen, a Queens man accused of trying to sell fentanyl and crystal methamphetamine to an undercover officer, was being held at Rikers Island last month when he complained about chest pains, according to authorities. He spent several days at Mount Sinai Beth Israel in Midtown Manhattan, where he was guarded by two Department of Correction officers and received occasional visitors. On the afternoon of Aug. 9, according to the police, Mr. Chen — all 6-foot-3 and 250 pounds of him — slipped quietly away. Mr. Chen, 44, told guards that he needed to shower and they permitted him to bathe alone, according to a law enforcement official with knowledge of the matter. Five minutes later they checked on him, but the shower was empty, the window was open and a rope made of knotted sheets was dangling from it, the law enforcement official said.
Persons: Yenchun Chen, Sinai Beth, Chen —, , Chen, , Joseph Kenny Organizations: of Correction Locations: Queens, Sinai, Sinai Beth Israel, Midtown Manhattan
LONDON (Reuters) - Britain's BAE Systems, Japan's Mitsubishi Heavy Industries, and Italy's Leonardo have agreed the next steps to deliver the concept phase of a next-generation combat aircraft, BAE Systems said on Tuesday. The three nations agreed in December 2022 to collaborate to build an advanced front-line fighter to enter service around the middle of the next decade. The new Global Combat Air Programme (GCAP) agreement will support discussions to set out working arrangements and capability requirements for the aircraft, BAE said. The three nations will update on the project's progress at London's DSEI international arms fair this week, BAE said. Britain's defence ministry had committed 2 billion pounds to the project, formerly known as Tempest, before Japan and Italy joined.
Persons: Italy's Leonardo, Herman Claesen, BAE's, GCAP, Sachin Ravikumar, Paul Sandle, Sarah Young Organizations: BAE Systems, Mitsubishi Heavy Industries, Global Combat Air, BAE, London's Locations: Italy, Japan
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