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great britain

EU launches legal action against UK

3 mins read

The FINANCIAL — The European Commission has today sent the United Kingdom a letter of formal notice for breaching its obligations under the Withdrawal Agreement. This marks the beginning of a formal infringement process against the United Kingdom. It has one month to reply to today’s letter. Brussels had warned Prime Minister Boris Johnson on multiple occasions that it would “not be shy” in taking legal action if he went ahead with the bill. The European Commission had given the British government until the end of September to withdraw the controversial provisions from its Internal Market Bill. The EU has launched…

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EU launches legal action against UK

3 mins read

The FINANCIAL — The European Commission has today sent the United Kingdom a letter of formal notice for breaching its obligations under the Withdrawal Agreement. This marks the beginning of a formal infringement process against the United Kingdom. It has one month to reply to today’s letter. Brussels had warned Prime Minister Boris Johnson on…

UK could soon have jet suit paramedics

2 mins read

 The FINANCIAL —  A collaboration between Gravity Industries, which has developed and patented a 1050 brake horsepower Jet Suit, and the Great North Air Ambulance Service (GNAAS), has resulted in a test flight in the heart of the Lakes. Director of operations at Great North Air Ambulance Service (GNAAS) said that exercise had demonstrated the…

Nokia signs 5G deal with BT following Huawei ban

2 mins read

The FINANCIAL — Nokia today announced that it has extended its long-term strategic relationship with BT into the 5G arena, following its selection as a 5G RAN vendor for the UK operator. As part of the deal, which will make Nokia BT’s largest equipment provider, Nokia will provide equipment and services at BT radio sites across…

Uber won 18-month license to continue operating in London

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The FINANCIAL — Uber won an appeal to continue operating in London on Monday when the judge restored its transportation license. Judge Tan Ikram said that he had “sufficient confidence” Uber “no longer poses a risk to public safety.” A ban would have been a huge hit for the company as its revenue declined 29% in Q2. In November…

JPMorgan is moving $234 bn of assets from the UK to Germany as a result of Brexit

2 mins read

The FINANCIAL — JP Morgan Chase & Co is reportedly set to move $234bn (£184bn) assets from the United Kingdom to Germany as a result of Britain’s exit from the European Union. While the type of assets being moved was not specified, similar transferals usually include cash and financial securities like stocks and bonds. The…

Brexit violating international treaty will affect US-UK trade deal

3 mins read

The FINANCIAL — The UK has published a bill to rewrite parts of the withdrawal agreement signed in January 2020. The EU stated that this had seriously damaged trust and it would not be shy of taking legal action against the UK, but cabinet minister Michael Gove said that the UK had made it perfectly clear…

British consumers increased their spending in August

2 mins read

The FINANCIAL — UK consumer spending exceeds last year’s level for first time since lockdown. Pubs and bars enjoy rebound but shops still struggle as the public switch to online purchases. British consumers increased their spending again in August as they went on “staycation” holidays, bought equipment for working from home and went back to shops…

HMRC reveals that up to £3.5bn furlough cash paid out in error

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The FINANCIAL — Up to £3.5bn in Coronavirus Job Retention Scheme payments may have been claimed fraudulently or paid out in error, the government has said. HMRC has calculated that between five and 10% of payments have been wrongly calculated, possibly as a result of employers abusing the scheme. The job retention scheme covers up to…

FDI in Georgia amounted USD 237.8 million in Q2 2020

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The FINANCIAL — National Statistics Office of Georgia published data of Foreign Direct Investments Q2. Foreign direct investments (FDI) in Georgia amounted to USD 237.8 million in Q2 2020 (preliminary data), up 0.5 percent from the adjusted data of Q2 2019. The top three countries that invested the most in the second quarter of 2020 were United Kingdom,…

Noble Partner 2020 Officially begins on 7 September

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The FINANCIAL — Noble Partner is a cooperatively-led multinational training exercise in its fifth iteration. It is aimed to enhance Georgian, U.S. and partner forces readiness and interoperability and to also contribute in maintaining stable, secure environment over the Black Sea region. U.S. and Georgia-led fifth Noble Partner international military exercise will be held south-east of…

Millions of British teens to get access to Child Trust Funds for the first time

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The FINANCIAL — Around 6.3 million child trust funds have been set up by the state since their launch. Initial grants were ranging from £250 for children in well-off families to £500 for those in low-income households. Children born from September 2002 were given vouchers by the government to invest for the future. People turning 18…