Factories continue cutting jobs as activity picks up – live updates

Factories continue cutting jobs as activity picks up – live updates

Good morning. European markets are set to slip at the open as concerns continue to grow about the spread of coronavirus in the US and Sino-American tensions escalate. New cases could rise to 100,000 a day if behaviors don’t change, the US government’s top infectious disease specialistAnthony Fauci said. Federal Reserve Chairman Jerome Powell also stressed to Congress on Tuesday that getting the coronavirus under control was vital as the US economy rebounds. 1) Oil titans Shell and BP try to go green: The European supermajors are seeking to preemptively reinvent themselves. But is it too little, too late? 2) Pandemic forces small business to innovate: Be The Business chief executive Tony Danker, who joins the CBI as director-general in November, said that the innovation seen over the past three months was "testament to the tenacity and latent entrepreneurial spirit of British business in the face of hostile economic conditions". 3) How an India-China border skirmish turned into a technology war: Following a violent confrontation that took place in the Himalayan region of Ladakh on June 15, India raised the stakes by targeting a key area of Chinese might: technology. 4) Sunak calls for post-Brexit financial services deal with Switzerland: The UK will lose the benefit of existing arrangements between the EU and Switzerland after the Brexit transition period 5) Airbus slashes 15,000 jobs as industry faces 'gravest crisis ever': Some 1,700 jobs will go in the UK, while France and Germany will each see about 5,000 positions lost ...
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