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Coronavirus: New rules to protect British firms amid virus

Coronavirus: New rules to protect British firms amid virus

Business
The government will introduce new measures on Monday to protect businesses critical to public health from foreign takeovers.Changes to legislation would give ministers extra powers to protect those needed to help in future pandemics, who might be struggling now.The new powers will cover firms such as pharmaceutical companies.Business Secretary Alok Sharma said: "The UK is open for investment, but not for exploitation."The government already has the power to scrutinise takeovers for several reasons, including national security or financial stability. It may block a takeover or seek assurances from a buyer about their plans for a company.But changes to the 2002 Enterprise Act will mean that the government can intervene if a business that is involved in a pa...
2nd French court orders Amazon to better protect workers

2nd French court orders Amazon to better protect workers

World
Amazon will keep its French warehouses closed for nowBy ANGELA CHARLTON Associated PressApril 24, 2020, 8:53 PM3 min read3 min readShare to FacebookShare to TwitterEmail this articlePARIS -- Amazon is keeping all of its French warehouses closed for the time being, after an appeals court upheld a ruling saying the company hadn’t done enough to protect workers from the coronavirus. Unions in France and beyond welcomed Friday’s ruling by the appeals court in Versailles as a comeuppance for the online behemoth, and expressed hope that negotiations with Amazon management on new safety measures can start next week. The standoff has drawn global attention, as worldwide demand for Amazon’s services soars because confined consumers can no longer shop in stores. Amazon temporarily shut all its Fren
Debenhams moves to protect itself from creditors in virus crisis

Debenhams moves to protect itself from creditors in virus crisis

Business
Debenhams has filed a notice of intent to appoint administrators as it moves to shield itself from creditors amid the coronavirus crisis.Sky News reported on Friday how the company's owners remained confident in its future, despite the shutdown of its 142 stores because of social distancing restrictions, though the chain was exposed on a number of fronts including rent bills. The chief problem was the threat of suppliers of stock - inventory worth hundreds of millions of pounds that is currently not needed - chasing the company to pay its bills on time. Image: Debenhams had already closed a number of under-performing stores this year following a rescue deal with landlords The retailer said on Monday: "This move will protect Debenhams ...
Coronavirus: Emergency legislation ‘will protect NHS volunteers’

Coronavirus: Emergency legislation ‘will protect NHS volunteers’

Health
The government has outlined emergency legislation to tackle coronavirus, including measures to allow people to leave their jobs and volunteer to care for those affected. Proposals would also allow court cases to be heard via video links.It comes ahead of an expected move from the UK's "containment" phase of the outbreak response to "delay".Meanwhile, Chancellor Rishi Sunak has pledged to address the outbreak in his first Budget on Wednesday.The emergency coronavirus legislation could be introduced in the House of Commons this month, BBC political correspondent Chris Mason said.By Saturday, the number of confirmed cases in the UK had risen to 209 from 164 the day before, and two people have died after contracting the virus - the latest being an 83-year-old...
How to protect your college savings as the stock market gyrates

How to protect your college savings as the stock market gyrates

Finance
Nuthawut SomsukWith the stock market tumbling amid the coronavirus outbreak, you might be worried about meeting your financial goals. And if you had hoped to tap a 529 college savings plan for an upcoming tuition bill for your child or grandchild, well, you might be really worried. Those state-sponsored investment plans allow parents to save money and then withdraw it tax-free, so long as the money is used for certain education expenses.Many of the accounts are likely in the red as of late. Stocks suffered their worst week since 2008 at the end of last month, with most companies in the S&P 500 losing 10% or more of their value. However, experts say if you have the appropriate asset allocation in your college savings plan, the recent declines shouldn't be t...