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UK to ban Huawei from 5G network

LONDON (Reuters) – Prime Minister Boris Johnson’s government will ban Huawei from Britain’s 5G network by ordering telecoms companies to remove its equipment by 2027, Media Secretary Oliver Dowden said on Tuesday. Operators will not be able to purchase 5G comp... More »

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Euro zone industry output recovers less than expected

BRUSSELS (Reuters) – Euro zone industrial production rose in May, official estimates showed on Tuesday, but the recovery from lockdown-induced record declines March and April was lower than expected and far from offsetting past drops. Manufacturing output in t... More »

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Equities hit five-month peak, bonds dip, as earnings season starts

NEW YORK (Reuters) – World equity benchmarks hit a five-month peak and perceived safe -havens such as the dollar and U.S. government bonds dipped on Monday as investors turned to second-quarter earnings for signs that corporate profits will recover from the ec... More »

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Britain set to ban Huawei from 5G, though timescale unclear

LONDON (Reuters) – Prime Minister Boris Johnson is set to ban Huawei from Britain’s 5G network in a landmark decision that will anger Beijing but win plaudits from President Donald Trump as the United States grapples with China’s rising economic and technologi... More »

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France reduces Chinese flights to Paris in tit-for-tat row

PARIS (Reuters) – France’s government on Monday started restricting Chinese airlines to one passenger flight to France per week, saying it was acting in response to restrictions imposed by Beijing on French carriers flying to China. “From July 13, Chinese comp... More »

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Oil dips on surge in COVID-19 infections

LONDON (Reuters) – Oil prices fell on Monday on a record daily rise in global coronavirus cases, with big spikes in infections over the weekend in the United States, while traders await an OPEC meeting expected to recommend an easing of supply cuts. Brent crud... More »

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German study shows low coronavirus infection rate in schools

BERLIN (Reuters) – Very few of 2,000 school children and teachers tested in the German state of Saxony showed antibodies to COVID-19, a study found on Monday, suggesting schools may not play as big a role in spreading the virus as some had feared. Germany bega... More »

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EU top court to rule in landmark Facebook, Schrems privacy case

BRUSSELS (Reuters) – Europe’s top court will on Thursday rule on the legality of tools companies use to transfer Europeans’ data around the world, in the latest clash between Facebook and Austrian privacy activist Max Schrems. If the court finds the mechanisms... More »

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Ubisoft shares sink after misconduct review

PARIS (Reuters) – Ubisoft (UBIP.PA) shares dropped 9% on Monday after the French video games group said over the weekend that three senior managers were leaving the company following a review into allegations of inappropriate behaviour. Ubisoft, which makes ga... More »

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UK government to make Huawei statement on Tuesday

LONDON (Reuters) – British minister Oliver Dowden will make a statement to parliament on Huawei some time after 1130 GMT on Tuesday, the opposition Labour Party said on Twitter. Britain is set to ban Huawei from Britain’s 5G network in a landmark decision that... More »

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Actor Depp concludes evidence in UK libel trial

LONDON (Reuters) – Movie star Johnny Depp on Monday concluded giving evidence in his libel action against Britain’s Sun newspaper after five days in the witness box, again rejecting accusations he had hit his ex-wife Amber Heard and accusing her of using viole... More »

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Racing Point confident they can see off Renault protest

LONDON (Reuters) – Racing Point accused Formula One rivals Renault on Monday of making a “misconceived and poorly informed” protest against them at the Styrian Grand Prix and said they were confident of winning. Stewards said on Sunday that the protest was adm... More »

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Huawei to request UK to delay 5G network removal – The Times

(Reuters) – China’s Huawei Technologies has requested a meeting with UK Prime Minister Boris Johnson to work out a deal to delay its potential removal from the country’s 5G phone network, the Sunday Times newspaper reported on Sunday. The Chinese telecoms equi... More »

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Bond investors wait for more headlines on EU recovery fund

AMSTERDAM (Reuters) – Euro zone bond yields held their ground on Thursday with investors’ main focus expected to be any new developments on the European Union’s recovery fund, which aims to help the region’s economy recover from the coronavirus crisis. Hopes a... More »

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Scientists warn of potential wave of COVID-linked brain damage

LONDON (Reuters) – Scientists warned on Wednesday of a potential wave of coronavirus-related brain damage as new evidence suggested COVID-19 can lead to severe neurological complications, including inflammation, psychosis and delirium. A study by researchers a... More »

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European stocks slip as hopes of post-pandemic rebound fade

(Reuters) – European shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed optimism around a post-pandemic rebound. The pan-European STOXX 600 index slipped 0.6%, falling back from a n... More »

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EU sees deeper recession, less steep rebound for euro zone

BRUSSELS (Reuters) – The euro zone economy will drop deeper into recession this year and rebound less steeply in 2021 than previously thought, the European Commission forecast on Tuesday, with France, Italy and Spain struggling the most due to the COVID-19 pan... More »

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Big Four told to ring fence auditing in Britain by June 2024

LONDON (Reuters) – PwC, Deloitte, KPMG and EY should ring fence auditing in Britain as a separate business by June 2024, their regulator said on Monday in one of the most sweeping changes to the sector globally to improve audit quality. Corporate failures at b... More »

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Lloyds Bank CEO António Horta-Osório to leave next year

(Reuters) – Lloyds Banking Group (LLOY.L) Chief Executive António Horta-Osório said on Monday he would step down next year after nearly a decade at the helm of Britain’s biggest domestic bank. While his departure had been expected, it leaves Lloyds with the ta... More »

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UK new car sales post smaller slump in June

LONDON (Reuters) – British new car registrations fell by an annual 35% in June, the smallest drop since February, as many dealerships reopened after coronavirus lockdown measures were lifted. A total of 145,377 new cars were registered in June, leaving year-to... More »

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Italian film composer Ennio Morricone dies aged 91

ROME (Reuters) – Ennio Morricone, the Italian composer whose haunting scores to Spaghetti Westerns like “A Fistful of Dollars” and “The Good, the Bad and the Ugly” helped define a cinematic era, has died, his lawyer said on Monday. He was 91. Morricone had bro... More »

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Don’t forget us! Paris tour guides protest outside Louvre

PARIS (Reuters) – Several dozen Paris tour guides wearing masks and holding Mona Lisa portraits protested outside the Louvre museum on Monday for more support from the government to help them ride out the coronavirus crisis and a dearth of tourists. They gathe... More »

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UK decision on Huawei not set in stone, British minister says

LONDON (Reuters) – Britain’s decision to allow China’s Huawei to play a limited role in building its 5G network is not “fixed in stone” and is being reviewed following the imposition of U.S. sanctions, culture minister Oliver Dowden said on Monday. Britain gra... More »

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Russia reports more than 6,600 new coronavirus cases

MOSCOW (Reuters) – Russia’s official coronavirus case tally, the fourth largest in the world, rose to 687,862 on Monday after officials reported 6,611 new infections in the last 24 hours. Authorities also said 135 people had died overnight, bringing Russia’s o... More »

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Moderate rebound in German industry orders points to slow recovery

BERLIN (Reuters) – Orders for German industrial goods rose by 10.4% in May, rebounding from their biggest drop since records began in 1991 the previous month, data showed on Monday, as demand picked up after lockdown measures to fight the coronavirus were lift... More »

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UK insurer Aviva CEO Tulloch steps down, Blanc appointed

LONDON (Reuters) – Aviva (AV.L) CEO Maurice Tulloch is stepping down with immediate effect for family health reasons, the UK insurer said on Monday, naming independent director and former Zurich Insurance executive Amanda Blanc as his replacement. It’s the sec... More »

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Make a vaccine? I’m trying to teach my kids the alphabet

LONDON/BERLIN/MILAN (Reuters) – It’s tough to do any useful work when you’re stuck at home, struggling to home-school bickering kids, let alone when you’re trying to produce a COVID-19 vaccine. British drugmaker AstraZeneca (AZN.L) had spent years preparing fo... More »

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One fifth of German firms fear for their survival amid pandemic: Ifo

BERLIN (Reuters) – Around one fifth of German companies (21%) believe their survival is threatened by the coronavirus crisis, Germany’s Ifo institute said on Monday, with travel agents, hotels and restaurants particularly concerned. “We could see a wave of ins... More »

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Germany’s confirmed coronavirus cases rise by 219 to 196,554: RKI

BERLIN, Jul 06 (Reuters) – The number of confirmed coronavirus cases in Germany increased by 219 to 196,554, data from the Robert Koch Institute (RKI) for infectious diseases showed on Monday. The reported death toll rose by 4 to 9,016, the tally showed. Sourc... More »

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Uffizi masterpieces show Black culture’s role in the Renaissance

ROME (Reuters) – Italy’s Uffizi gallery said on Thursday it was planning to pick out nine of its masterpieces for a project to highlight the part that Black people and culture played in the Renaissance. Under the “Black Presence” initiative, images of works in... More »

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EU banks to take on Visa, Mastercard with new payments system

LONDON/PARIS (Reuters) – Sixteen banks from Germany, France and three other euro zone countries on Thursday said a “truly European” payments system was expected to be up and running in 2022 to fully digitalise a region where half of all retail payments are sti... More »

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Venezuelan music, dance teachers reach kids online amid pandemic

CARACAS(Reuters) – With Venezuela now three months into a coronavirus quarantine that has kept children locked indoors, music and art teachers and storytellers are for the first time moving their classes online. The change is an uphill battle in the South Amer... More »

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ECB lowers bar for bank mergers in hope of spurring consolidation

FRANKFURT (Reuters) – The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plagued by low profits and unresolved issues inherited from the last financial crisis. In a ... More »

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BOC Aviation cancels 30 Boeing 737 MAX but backs grounded jet

(Reuters) – Aircraft leasing company BOC Aviation (2588.HK) said on Tuesday it had cancelled an order for 30 Boeing (BA.N) 737 MAX planes although its chief executive remained confident in the jet which has been grounded for more than a year. The lessor, which... More »

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Wirecard’s former boss faces criminal complaint in Austria

VIENNA (Reuters) – An Austrian lawyer has filed a criminal complaint against Wirecard’s (WDIG.DE) former Chief Executive Markus Braun and Chief Operating Officer Jan Marsalek at a court in Vienna, accusing them of market manipulation and serious fraud. The Vie... More »

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French group Sogeclair Aerospace eyeing up to 245 job cuts in France

TOULOUSE, France (Reuters) – French company Sogeclair Aerospace (SCLR.PA) said on Tuesday that it was eyeing up to 245 job cuts in France, as the country’s aerospace sector reels from the hits to business caused by the coronavirus crisis. A spokesman said the ... More »

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EasyJet says Haji-Ioannou family holding drops below 30%

LONDON (Reuters) – British low-cost airline easyJet (EZJ.L) said in a regulatory filing on Tuesday that the Haji-Ioannou family now hold under 30% of the company. Stelios Haji-Ioannou founded easyJet, and along with family members remains its biggest sharehold... More »

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More Britons take a bet on bitcoin

LONDON (Reuters) – The number of people in Britain buying cryptoassets like bitcoin BTC=BTSP and ether has more than doubled over the past year, but many are still unaware they have no protection against mis-selling, the Financial Conduct Authority said on Tue... More »

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Oil prices drop on prospect of returning Libyan supplies

LONDON (Reuters) – Oil prices slipped on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle since the start of the year. The more-active September contract for Brent LCOc2 fell 37 cents, or 0.88%... More »

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Britain locks down city of Leicester after COVID-19 flare-up

LEICESTER, England (Reuters) – Britain has imposed a stringent lockdown on the English city of Leicester following a local flare-up of the novel coronavirus, overshadowing Prime Minister Boris Johnson’s attempts to nudge the country back to normality. The Unit... More »

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European shares pick up, dollar gains before quarter-end

LONDON (Reuters) – European shares picked up on Tuesday after a weak start, extending the optimism of the Asian session, and oil prices steadied as investors looked for signs of an economic recovery in the second half of 2020. The MSCI world equity index, whic... More »

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Motor racing: Renault retain Sirotkin as F1 reserve

LONDON (Reuters) – Russian Sergey Sirotkin will be on standby in Austria this weekend after Renault announced on Tuesday they had retained him as their Formula One reserve driver. The role has come into the spotlight more as the sport finally starts its season... More »

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Coming soon to a 3D printer near you: Plant-based steaks

TEL AVIV/ZURICH (Reuters) – Israeli start-up Redefine Meat plans to launch 3D printers to produce plant-based steaks mimicking real beef next year in a bid for a slice of the fast-growing alternative meat market. Meat substitutes are increasingly popular with ... More »

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Cineworld delays U.S., UK cinema reopenings to end of July

LONDON (Reuters) – Cineworld (CINE.L) on Tuesday delayed the reopening of its cinemas in the United States and Britain until the end of July, citing changes to the release schedules for some of the big summer movies. The UK-based company had previously expecte... More »

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Italy’s Cassandra: the scientist who challenged WHO guidelines

ROME (Reuters) – Andrea Crisanti says his one regret is that he didn’t yell loudly enough at the beginning, when the dead had yet to pile up.  The Italian virologist has become a medical celebrity at home, a contrarian who broke with initial  World Health  Org... More »

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It is rocket science: EU to speed up space ambitions, Breton says

PARIS (Reuters) – The European Union will plough more money into rocket launches, satellite communication and space exploration to preserve its often unsung successes in space and keep up with US and Chinese ambitions, its space chief said on Sunday. Over the ... More »

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Masked and distanced, Spanish PM Sanchez hits the campaign trail

BARCELONA (Reuters) – Spanish Prime Minister Pedro Sanchez wore a mask and avoided shaking hands with supporters at a political rally on Sunday as the coronavirus pandemic prompted changes to campaigning ahead of regional elections. Polls in the Basque Country... More »

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Biodegradable grass fresco in Geneva marks U.N.’s 75th anniversary

GENEVA (Reuters) – A French artist has painted a large biodegradable fresco on the lawn of the United Nations’ European headquarters in Geneva, marking Friday’s 75th anniversary of its founding. Saype, who was born Guillaume Legros, created the “World In Progr... More »

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Spain, Ireland, Luxembourg vie for Eurogroup leadership

BRUSSELS/MADRID (Reuters) – Finance ministers of Spain, Ireland and Luxembourg are in the running to chair meetings of the powerful Eurogroup of euro zone finance ministers, with euro zone officials saying it is likely to be a close race between the Spanish an... More »

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Rainy day hastens sovereign wealth funds’ refocus to home

LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »

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Euro zone data confirm tepid recovery, ECB’s Knot says

FRANKFURT (Reuters) – A string of positive economic indicators in the euro zone confirm that a recovery is on its way but the bloc may still need years to reach pre-crisis levels of activity, European Central Bank policymaker Klaas Knot said on Thursday. “I wo... More »

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Fund giant BlackRock ‘warming up’ to European assets

LONDON (Reuters) – BlackRock’s Investment Institute said on Tuesday it was “warming up” to European assets following what it called the eurozone’s “impressive” efforts to tackle the coronavirus. The research arm of the world’s biggest fund manager said two fac... More »

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London Stock Exchange’s Rathi to head UK financial watchdog

LONDON (Reuters) – Nikhil Rathi, head of the London Stock Exchange’s UK division, has been appointed chief executive of the Financial Conduct Authority (FCA), Britain’s finance ministry said on Monday. Rathi, a former finance ministry official, will play a key... More »

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Changing of guard at top German court signals de-escalation for ECB

BERLIN (Reuters) – Changes to the composition of Germany’s top court are likely to make it less confrontational towards the European Central Bank following a ruling about bond purchases that sent shockwaves around Europe, according to two sources close to the ... More »

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Exclusive: Nokia to cut a third of jobs at French arm Alcatel-Lucent

PARIS (Reuters) – Finland’s Nokia Oyj (NOKIA.HE) plans to cut 1,233 jobs at its French subsidiary Alcatel-Lucent International, equivalent to a third of the local workforce, the group said on Monday, confirming an earlier Reuters report. Nokia, which competes ... More »

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Global stocks shrug off fresh virus wave fears, dollar slips

LONDON (Reuters) – World stocks reversed earlier losses and the dollar slid on Monday as investors shrugged off worries that rising coronavirus infections in parts of Europe and the United States over the weekend could scupper a quick economic rebound. Torn be... More »

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France’s Macron to visit Dutch PM Rutte to break EU budget impasse

PARIS (Reuters) – Emmanuel Macron will travel to the Netherlands on Tuesday to try to break Dutch Prime Minister Mark Rutte’s resistance to the European Union’s 750 billion euro aid package that the French president wants to see approved at an EU summit in Jul... More »

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UK factories suffer worst quarter on record, CBI says

LONDON (Reuters) – British industrial output recorded its biggest quarterly fall on record during the three months to June as COVID-19 heavily disrupted operations, and a further decline is likely in the months to come, a survey showed on Monday. The Confedera... More »

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Oil steadies amid increase in coronavirus cases

LONDON (Reuters) – Oil prices were steady on Monday, supported by tighter supplies from major producers but held in check by concerns over a record rise in global coronavirus infections that could stall a recovery in fuel demand. Brent crude LCOc1 rose 5 cents... More »

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Film, pop stars line up for global COVID-19 fundraising gig

LONDON (Reuters) – International music and film stars will headline a globally televised and streamed fundraising concert on Saturday to help fight COVID-19 as part of a joint initiative by the advocacy group Global Citizen and the European Commission. The ini... More »

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UK says Reading knife attacker was acting alone

READING, England (Reuters) – The man who went on a stabbing spree in the British town of Reading was acting alone, interior minister Priti Patel said on Monday. “This is a tragic, tragic event,” Patel said. She did not comment on whether the arrested man was L... More »

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Australia striker Juric tests positive for COVID-19

SOFIA (Reuters) – CSKA Sofia’s Australian striker Tomi Juric has tested positive for COVID-19, the 31-times Bulgarian champions said in a statement late on Sunday. The 28-year-old forward, who has played 41 times for his country, has been isolated. Other CSKA ... More »

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Manchester City will be fighting for title next season: Guardiola

(Reuters) – Manager Pep Guardiola says Manchester City “have ideas” for improving the side in the transfer market and will be ready to halt Liverpool’s bid for back-to-back Premier League titles. Liverpool need five points to be sure of their first English lea... More »

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Dutch soccer players boycott TV show over Black Pete remarks

AMSTERDAM (Reuters) – The Dutch men’s and women’s national football team players said on Friday they would no longer grant interviews to a popular TV show due to remarks made by a commentator mocking an anti-racism protester. In a statement first published on ... More »

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Live gigs in Britain are back – but you’ll need a car

LONDON (Reuters) – There won’t be any moshing going on, but entertainment company Live Nation Entertainment are rolling out a series of gigs across the UK where fans can be together to get their fix of live events from the safety of their own designated area. ... More »