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Esper: Nation grieves over 9 service members killed in training

Esper: Nation grieves over 9 service members killed in training

Business
Aug. 3 (UPI) -- Secretary of Defense Mark Esper said Monday the United States grieves the deaths of eight Marines and a Sailor who were killed over the weekend when their amphibious assault vehicle sank off the coast of California's San Clemente Island. "A grateful nation and the Department of Defense grieves the tragic loss of the Marines and Sailor lost in the amphibious assault vehicle accident off the coast of San Clemente Island," Esper said in a statement. "Our prayers and condolences are with the family and friends of these brave young men." Advertisement Only one body has been recovered and the other service members are presumed dead after an extensive 40-hour search was called off and became a recovery mission on Sunday after the vessel sank with 15 Marines and one Navy sailor on...
‘We have had no choice’: Hays Travel to cut up to 878 jobs

‘We have had no choice’: Hays Travel to cut up to 878 jobs

Business
Hays Travel is to cut up to 878 jobs from a workforce of 4,500, the firm has announced.Owners John and Irene Hays blamed the government's advice against all non-essential travel to Spain and the changes to furlough conditions, saying these two things had left them with "no choice". They said: "We are devastated that after all of our efforts and the huge investment we've made we now face losing some of our valued employees, through no fault of their own. Image: Hays Travel is the UK's largest independent travel chain "Following the decision to ban travel to Spain and the changes in furlough conditions coming at the same time, we have had no choice."Sunderland-based Hays Travel is the largest independent travel chain in the UK and it hi...
HSBC profit dives 65% as it warns loan losses could hit £10bn

HSBC profit dives 65% as it warns loan losses could hit £10bn

Business
HSBC saw its pre-tax profit plummet by 65% in the first half of the year as the UK's largest bank was forced to hike funds to cover bad loans due to the coronavirus.The lender reported profits of $ 4.3bn (£3.2bn) in the half year to 30 June, down from $ 12.4bn (£9.5bn) for the same period in 2019. HSBC's results reflected the trend of lenders globally increasing their financial buffers to absorb loan losses as companies reel from the impact of the COVID-19 crisis. Image: Unrest in Hong Kong has added to the challenges of the Asia-focused bank In response to the coronavirus pandemic the bank's provision for bad debts in the first-half soared to $ 6.9bn (£5.3bn), compared to $ 1bn (£760m) for the same period a year earlier.It had s
Bullring owner Hammerson to raise £600m

Bullring owner Hammerson to raise £600m

Business
Britain's biggest listed shopping centre-owner is preparing to ask shareholders for hundreds of millions of pounds to improve its chances of surviving the coronavirus pandemic.Sky News has learnt that Hammerson, which owns the Bullring in Birmingham and London's Brent Cross mall, is drawing up plans for a rights issue that could raise more than its current market capitalisation. One investor said this weekend that Hammerson could seek between £500m and £600m for the cash call, which would come as the COVID-19 crisis decimates landlords' revenues and up-ends decades of convention around the collection of retail rents.Hammerson, which has seen its shares slump by 70% during the past year, said last month that it had collected only 16% of the rent it was owed by retail tenants ahead of the th
DHS removes acting chief of intelligence and analysis after protest response

DHS removes acting chief of intelligence and analysis after protest response

Business
Aug. 1 (UPI) -- The Department of Homeland Security is removing its acting chief of intelligence and analysis amid criticism of his office's role in responding to civil unrest in Portland, Ore. As of Saturday, Brian Murphy was still listed as Acting Under Secretary for the Office of Intelligence and Analysis Brian Murphy on the DHS website. Advertisement But the Washington Post has reported that DHS Secretary Chad Wolf has removed Brian Murphy from his role following a series of reports about how his office responded to nightly protests in the city. Most recently, the reports surfaced reported that DHS had compiled "intelligence reports" on journalists who published leaked documents, and that the agency had monitored protesters' electronic communications. On Saturday House Intelligence C...