United Kingdom

LONDON, June 13 (NNN-AGENCIES) — Prime Minister Boris Johnson said a wave of anti-racism protests across Britain had been “hijacked by extremists”, as fears mounted about clashes between activists and far-right groups.

In London, authorities boarded up several statues, including of World War II leader Winston Churchill, after previous damage and with further demonstrations planned.

Mayor Sadiq Khan said the monuments, as well as the Cenotaph war memorial, were being protected against the risk of “disorder, vandalism and violence”.

LONDON (Reuters) - British Airways was labelled a “national disgrace” by lawmakers for its treatment of employees on Saturday, adding to pressure on the airline as it juggles job cuts and new quarantine rules.

Britain’s Transport Select Committee said that BA and its parent company IAG (ICAG.L) were trying to take advantage of the coronavirus crisis to cut 12,000 jobs and downgrade the terms and conditions of other employees.

LONDON, June 12 (Xinhua) -- Britain on Friday formally ruled out the possibility of an extended post-Brexit transition period, leaving business in uncertainty again.

Michael Gove, the British cabinet office minister, said Friday in a tweet that he formally confirmed the decision.

"I formally confirmed the UK will not extend the transition period & the moment for extension has now passed. On 1 January 2021 we will take back control and regain our political & economic independence," he said.

London, Jun 12 (AP/PTI) Official figures show that the British economy shrank by a colossal 20.4% in April, the first full month that the country was in its coronavirus lockdown.

The Office for National Statistics said Friday that all areas of the economy were hit, in particular pubs, education, health and car sales.

Jonathan Athow, deputy national statistician for economic statistics, said April's fall is the biggest the U.K. has ever seen, and almost 10 times larger than the steepest pre-COVID-19 fall. April's decline follows a 5.8% contraction in March.

LONDON, June 12 (NNN-AGENCIES) — British Airways is selling some of its multi-million-pound art collection to raise cash to help it through the coronavirus pandemic.

The collection includes art by Damien Hirst, Bridget Riley and Peter Doig, with one work believed to have been valued at more than £1m.

It is understood at least 10 pieces have been identified for sale, although exactly which ones is unclear.

BA has seen a collapse in air travel and is set to cut thousands of jobs.

LONDON (Reuters) - Saudi Arabia’s share of the oil market is set to rise this decade to its highest since the 1980s as investment in production elsewhere dries up in the wake of the coronavirus crisis, J.P. Morgan said in a report.

Oil prices have plunged more than 40% this year after an unprecedented collapse in demand, prompting oil and gas companies to announce spending cuts that will total $625 million by the end of the decade, according to the Wall Street bank.

LONDON, June 11 (Xinhua) -- British Cabinet Office Minister Michael Gove said Thursday that the British government is not gambling with the European Union (EU) over Brexit despite the stalled trade talks between the two sides.

Instead, Gove said, London is holding Brussels to account for its commitment to secure a zero-tariff, zero-quota deal and to use its best endeavours.

"We hope that the EU will do that," said Gove, who was in the House of Commons (lower house of parliament) to answer questions on the progress on Brexit talks.

LONDON (AP) — The British economy shrank by a colossal 20.4% in April, the first full month that the country was in its coronavirus lockdown, official figures showed Friday.

A large decline had been expected given that much of the economy was shuttered as part of the lockdown, which was put in place on March 23.

Following on from March’s 5.8% decline, the U.K. economy has contracted by around a quarter in just two months.

10 June 2020; MEMO: A fixer in some of the most lucrative deals involving Gulf monarchies is in a legal battle against Barclays Bank over a multi-billion-dollar fundraising in 2008 which included the United Arab Emirates (UAE) and Qatar.

LONDON (Reuters) - Oil fell more than 2% towards $40 a barrel on Wednesday after a report showed a rise in crude inventories in the United States, reviving concerns about oversupply and weak demand due to the coronavirus crisis.

The report from the American Petroleum Institute, an industry group, said crude stocks rose by 8.4 million barrels, rather than falling as analysts forecast. [API/S] The U.S. government’s official stocks figures are due out later on Wednesday. [EIA/S]