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UK shoppers make tentative return to high street in June, retailers say

British shoppers returned to the high street in June as the coronavirus lockdown eased, but overall numbers were much lower than normal for the time of year, an industry survey showed on Friday. The monthly report from the British Retail Consortium trade body and market research firm ShopperTrak showed footfall was down 63% in annual terms in June, although this was 19 percentage points above May’s reading. Non-essential stores were allowed to reopen on June 15 in England, but shopper numbers were still 53% lower than normal in the second ...

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In a first, Concor starts coal movement for Karnataka power utility

State-run rail hauler Container Corporation of India Ltd (Concor) has started moving coal for Karnataka Power Corporation Ltd (KPCL) on a two-year contract, as it looks at diversification into newer revenue streams. The contract involves moving 13.24 lakh tonnes of coal a year from Mahanadi Coalfields in Sambalpur, Odisha to KPCL’s Raichur thermal power station. Since June, Concor has already moved 22 coal rakes transporting about 3,500 tonnes of cargo on the contract, company officials said. Concor is responsible for not only the movement of coal but also the quality ...

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EU’s Michel lays out please-all recovery plan ahead of tense summit

European Council President Charles Michel on Friday offered concessions to countries across the EU in a plan for the EU’s long-term budget and economic recovery plan, hoping to bridge differences between national leaders when they meet next week. Michel, who will chair the first face-to-face meeting of European Union leaders since coronavirus lockdowns were lifted, proposed a smaller 2021-27 budget in a bid to make a mass economic stimulus more palatable to thrifty northern countries. He proposed a long-term EU budget of 1.074 trillion euros – down from the European ...

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Wet weather to favor US soybean crop in coming days: USDA

The US soybean crop is expected to benefit from rain in the coming days, which might also alleviate dry soil concerns in the Midwest, which is America’s top soybean producing region. Beneficial rain is expected to hit the Midwest region for the next few days, the US Department of Agriculture said July 9. Five-day rainfall totals could reach 1 to 2 inches in the Midwest, it added. Rainfall in the Midwest in coming days should alleviate dry weather concern for US soybean farmers and pressure soybeans futures prices which is ...

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Peru’s mines to be fully operational by end of July after nation ends coronavirus lockdown

Peru’s miners are on track to resume operating at 100% capacity by the end of July after the government ended a nationwide coronavirus lockdown last week, Energy & Mines Minister Susana Vilca said. Investment projects such as Anglo American’s $5 billion Quellaveco, Minsur’s $1.6 billion Mina Justa and Chinalco’s $1.5 billion Toromocho expansion have also been delayed by “several months” after much of the mining industry was halted by the lockdown in mid-March, said Vilca, who was appointed in February. At least 1,000 mineworkers tested positive for the novel coronavirus ...

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Italian Industrial Production Soared in May as Lockdown Eased

Italy’s industrial output grew strongly in May as restrictions to contain the spread of the coronavirus were lifted at the beginning of the month, data from the country’s statistics office Istat showed Friday. The industrial production index increased by 42.1% on month in seasonally-adjusted terms, after two months of record falls amid a severe national lockdown that kept most factories shut. The reading outpaced the expectations of economists polled by FactSet, who predicted industrial output to rebound by 18.2%. On an annual basis, total industrial output fell 20.3% in calendar-adjusted ...

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EQnomics survey finds that a legacy of the COVID-19 pandemic may be more work satisfaction, more ethical leadership, and a deeper sense of trust

EQnomics® Consulting, an international Business Success organisation, strives to be the business world’s first choice for the provision of effective, competitive, and bespoke Executive & Leadership Training, Business Solutions Consulting and professional Coaching services. Serving as a premier catalyst for the dissemination of learning on international best practices, the EQnomics Team has taken actionable steps towards finding answers on the critical necessities for managing the undergoing and expected business environment disruptions. Currently, and due to the huge disruption caused by the COVID-19 pandemic to businesses, we have been on top ...

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How could the way out of coal be…more coal?

It’s a hardscrabble existence for many of the 175,000 Navajo who live on the 27,000 square miles of tribal lands that stretch across the borders of Utah, Arizona and New Mexico. The median household income hovers around $30,000 a year, and more than a quarter of homes have no electricity. In early May, the coronavirus was spreading so fast that New Mexico blockaded roads in and out of Gallup, the picturesque town on the edge of the Navajo nation known as the “heart of Indian country”. The pandemic followed a ...

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Over 3.5m tons of steel products produced in a quarter

Production of steel products in Iran stood at over 3.566 million tons during the first quarter of the current Iranian calendar year (March 20-June 20), IRNA reported. As reported, the quarterly output shows a one-percent growth compared to the same period of time in the previous year. Meanwhile, the production of steel ingot in the country has increased eight percent to stand at over 5.702 million tons during the first quarter of this year. The country has defined 16 development projects in the steel sector to boost the output of ...

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TEN, Ltd Announces Long-Term Charters for up to Three N/B Suezmax DP2 Tankers

TEN, Ltd yesterday announced the contract for the building of up to three suezmax DP2 shuttle tankers on long-term employment to a major European end-user. The vessels will be built in South Korea and the time charter equivalent minimum revenues to be generated over the duration of the respective contacts, should all be exercised, are expected at about $250 million. “TEN continues its profitable and market proven policy of attractive long-term charters to grow its fleet at periods of competitive newbuilding prices,” Mr. George Saroglou, COO of TEN commented. “By ...

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AISSat-1 marks the first NewSpace decade for Norway

KONGSBERG is celebrating 10 successful years since the AISSat-1 AIS-receiving satellite, complete with its KONGSBERG AIS payload, was launched from the Satish Dhawan Space Centre in India on July 12, 2010. The game-changing AISSat-1, the first operational AIS receiver in space, is financed by the Norwegian Ministry of Trade and Industry and deploys technology which was developed collaboratively by Kongsberg Seatex with the Norwegian Space Centre, the Norwegian Defence Research Establishment and the Norwegian Coastal Administration. Launched in an Indian PSLV rocket, the 20 x 20 x 20cm, 6kg, cube-shaped ...

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Hermitage Offshore Services Ltd. Announces Forbearance Agreement with the Lenders to its $132.9 Million Term Loan Facility

Hermitage Offshore Services Ltd. announced that it has executed a forbearance agreement (the “Forbearance Agreement”) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the “Term Loan Facility”) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the “Lenders”) and DNB Bank ASA, as agent and security agent. While the Forbearance Agreement does not address the long-term liquidity and restructuring needs of the Company, pursuant to the terms of the Forbearance Agreement, the Lenders have agreed to forbear from exercising any of their rights and remedies ...

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Joint American Club And American Bureau Of Shipping (Abs) Webinar: Insights Into The Nature And Claims Of Maritime-Related Injuries

Making safety a priority is critical in today’s maritime environment. With evolving regulations and safety protocols, mariners are constantly required to stay aware of changes and remain vigilant in their pursuit of safety, both at sea and on shore. To further enhance safety in the industry, ABS, the American Club and Lamar University recently partnered to study some of the most common causes of safety-related incidents in the maritime industry. In this webinar, William Moore, Dr. Eng., American P&I Club Senior Vice President and Head of Global Loss Prevention, Keegan ...

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Gibdock services Shearwater survey vessels in testing times

Mediterranean shiprepair facility Gibdock is overcoming the challenges posed by the current global health crisis, completing an extensive two-vessel drydocking and maintenance project for returning customer Shearwater GeoServices. The Gibraltar-based repair and conversion specialist worked on the seismic research vessels Oceanic Sirius, drydocked for 14 days in Dock 1, and SW Empress, which remained in Dock 2 for 26 days before being moved to South Mole for testing and sea trials. According to Richard Beards, Managing Director, Gibdock, the project went smoothly despite the company facing changes to working practices ...

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Fitch Rates Port Authority of NY & NJ’s 221st-222nd Ser Consol Bonds ‘AA-‘; Maintains Neg Watch

Fitch Ratings has assigned an ‘AA-‘ rating to the Port Authority of New York and New Jersey’s (PANYNJ) approximately $1.0 billion in total series 221st and 222nd consolidated bonds. Fitch maintains the following long-term obligations related to PANYNJ on Rating Watch Negative (RWN): –$1.1 billion outstanding parity consolidated notes, series AAA ‘AA-‘; –Approximately $22.1 billion outstanding parity consolidated bonds ‘AA-‘; –1WTC-2011 liberty revenue bonds, issued by the New York Liberty Development Corp., ‘AA-‘; –4 World Trade Center Project Bonds, issued by the New York Liberty Development Corp., ‘A’; –Approximately $2.25 ...

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