England

Global green energy growth to fall for first time in 20 years: IEA

LONDON (Reuters) - Global growth in new renewable energy capacity will experience its first annual decline in 20 years this year amid the coronavirus pandemic but is expected to pick up next year, the International Energy Agency said on Wednesday.

The world is set to build fewer wind turbines, solar plants and other installations that produce renewable electricity this year as energy demand has been reduced across commercial and industrial sectors and logistics issues delay projects.

Outlook for European corporate profits worsens further

LONDON (Reuters) - Expectations for second- and third-quarter corporate profits are deteriorating further in Europe, despite a gradual easing across the continent of lockdowns aimed at curbing the coronavirus pandemic, Refinitiv data showed on Wednesday.

Companies listed on the pan-European STOXX 600 are now expected to report a decline of 48.4% in second-quarter earnings, down from a drop of 46.7% forecast the week before.

For the third quarter, analyst expectations are now set for a 35.3% fall in earnings, versus 35.1% a week ago.

China urges its firms to list in London in renewed global push: sources

LONDON/HONG KONG/WASHINGTON (Reuters) - China is urging domestic companies to look at listing in London, several sources told Reuters, as the country aims to revive deals under a Stock Connect scheme and strengthen overseas ties in the wake of the coronavirus crisis.

The Shanghai-London Stock Connect scheme, which began operating last year, aims to build links between Britain and China, help Chinese companies expand their investor base and give mainland investors access to UK-listed companies.

Long-lasting global recession likely due to COVID-19, says World Economic Forum report

LONDON (Reuters) - Risk managers expect a prolonged global recession as a result of the coronavirus pandemic, a report by the World Economic Forum showed on Tuesday.

Two-thirds of the 347 respondents to the survey - carried out in response to the outbreak - put a lengthy contraction in the global economy top of their list of concerns for the next 18 months.

Half of risk managers expected bankruptcies and industry consolidation, the failure of industries to recover and high levels of unemployment, particularly among the young.

UK announces new Brexit tariff regime: keeps tariffs on cars and agricultural products

LONDON (Reuters) - The United Kingdom on Tuesday announced a new post-Brexit tariff regime to replace the European Union’s external tariff, maintaining a 10% tariff on cars and levies on agricultural products such as lamb, beef, and poultry.

The British government said the new regime, known as UK Global Tariff (UKGT), would be simpler and cheaper than the EU’s Common External Tariff (EU CET).

Coronavirus widens climate rift between European and U.S. oil majors

LONDON (Reuters) - Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel demand, according to a Reuters review of company statements and interviews with executives.

It's important for UK, China to cooperate closely to fight COVID-19 pandemic: senior UK official

LONDON, May 17 (Xinhua) -- Nigel Adams, Britain's minister of state at the Foreign and Commonwealth Office and the Department for International Development, said it is important for Britain and China to cooperate closely in the battle against COVID-19 pandemic.

Adams made the remarks during a telephone conversation with Chinese Ambassador to Britain Liu Xiaoming on Friday. The two exchanged views on China-Britain relationship and joint response to the COVID-19 pandemic.

UK PM Johnson accepts public frustration with lockdown easing rules

LONDON (Reuters) - British Prime Minister Boris Johnson admitted on Sunday that there was public frustration with his government’s measures to ease the coronavirus lockdown following widespread criticism of the new rules, which he admitted were more complex.

As a poll for the Observer newspaper indicated growing dissatisfaction with Johnson’s handling of the crisis, he wrote in the Mail on Sunday paper: “I understand that people will feel frustrated with some of the new rules.”

UK's Gove says EU trade deal can be done despite talks stalemate

LONDON (Reuters) - British Cabinet Office minister Michael Gove said on Sunday that there was a post-Brexit trade deal to be done with the European Union providing the bloc compromised its stance, days after both sides said talks were making little progress.

The United Kingdom left the EU on Jan. 31 but the main terms of its membership remain in place for a transition period until the end of this year to allow it time to negotiate a free trade agreement.

Subscribe to England