business | Common News Update

Apr122021 by adminNo Comments

Back in business: Pubs, hairdressers and shops reopen as lockdown eases

Business

Businesses have wasted little time in welcoming back customers after lockdown measures eased across the UK at midnight.Prime Minister Boris Johnson urged the nation to "behave responsibly" as non-essential shops, hairdressers, salons, pubs, restaurants and gyms reopened in England. In Wales, people can now also visit non-essential shops and travel across the border to other areas of the UK from today.Meanwhile, people in Northern Ireland are now allowed to meet 10 others outside as the "stay at home" order has been scrapped.Live COVID updates from across the UK and around the world ...

Apr52021 by adminNo Comments

SKorea’s LG to exit loss-making mobile phone business

Technology

South Korean electronics maker LG says it is getting out of its loss-making mobile phone business to focus on electric vehicle components, robotics, artificial intelligence and other products and servicesByThe Associated PressApril 5, 2021, 9:13 AM• 1 min readShare to FacebookShare to TwitterEmail this articleSEOUL, South Korea -- South Korean electronics maker LG said Monday it is getting out of its loss-making mobile phone business to focus on electric vehicle components, robotics, artificial intelligence and other products and services.LG's board approved the shift in strategy and the company expects to fully exit the mobile phone business by the end of July, it said in a statement.LG was once the third-largest mobile phone maker but has lost market share to Chinese and other competitor...

Apr32021 by adminNo Comments

Individual loan business continues to improve in Jan-Mar: HDFC

Finance

Mortgage lender HDFC Ltd on Saturday said the company's individual loan business continued to exhibit improvement in the January-March quarter 2021 and loans worth Rs 7,503 crore were assigned to its banking subsidiary. "The individual loan business continued to see strong improvements during the quarter ended Match 31, 2021. "During the quarter, pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank, the Corporation assigned loans to the bank amounting to Rs 7,503 crore," HDFC said in a regulatory filing. In the year ago same quarter ended March 2020, such loan assigned to HDFC Bank stood at Rs 5,479 crore. The individual loans sold in the preceding 12 months (April-March) amounted to Rs 18,980 crore (previous year Rs 24,127 crore), it s...

Mar302021 by adminNo Comments

Labour frontbencher apologises to Sir Keir Starmer after describing business as ‘the enemy’

Business

Sir Keir Starmer has revealed one of his top team has apologised after describing business as "the enemy".Shadow tourism minister, Alex Sobel, was "wrong" in his comments, according to the Labour leader, who added that under him, the party was "very clearly pro-business". Image: Sir Keir Starmer stressed Labour was 'pro-business' under his leadership Speaking on a podcast with environmental activist Simon Moore, Mr Sobel said of his relationship with business: "When I first became an MP, I was like, I am not taking a meeting with any of these people."These people are the enemy, you know."I'm a socialist, my job is to effectively transform society so that we have a much more mixed economy and we don't have huge global corporations whi...

Mar252021 by adminNo Comments

High Streets: ‘Catastrophic blow’ as business rates appeals denied

Business

Getty ImagesThe Treasury has been criticised for saying it will legislate to "rule out" Covid-related business rates appeals.Experts said the legal change on appeals would be a "catastrophic blow" for many firms hit by the property tax.Retail, hospitality and leisure have benefitted from a rates "holiday", which was announced at the start of the crisis.It will continue until the end of June, with discounts in place until next year.But many supply chain firms and commercial property owners have been ineligible for much of this support.The Treasury said those unable to receive rates relief have appealed against their bills as a result, arguing that they have been hit by a "material change of circumstance" due to the pandemic.But the government will now legislate to "rule out" Covid-19 relate...