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The coronavirus pandemic may spell five permanent changes for the UK economy, according to a new study published by Oxford Economics. The current scale of government intervention used to propel the state of economy and public health will add pressure to aid other areas of public interest, according to lead UK economist Martin Beck. "Evidence suggests that major economic shocks can exert a decades-long drag on consumers' desire to spend, giving another reason why higher government borrowing may persist long after the pandemic has faded," Beck wrote in the report. Visit Business Insider's homepage for more stories. Economic crises often signify winds...
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The European Union on Tuesday officially barred Americans from traveling to its member states as US coronavirus cases continue to rise. The US is among dozens of countries excluded from a list of safe countries whose citizens may travel to Europe once it reopens its borders on Wednesday. Countries on the safe list include Australia, Canada, and South Korea. Visit Business Insider's homepage for more stories. European Union officials on Tuesday finalized and published a list of 15 countries whose residents will be allowed to visit when it reopens its borders on Wednesday. The United States is not included, effectively barring Americans...
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Wirecard shares jumped as much as 160% on Tuesday as it continues to rebound from lows seen last week. The fintech group's stock jump was likely propelled by UK's financial authority lifting restrictions on one of its subsidiaries. Thousands of customers were unable to access their cash after the German parent company filed for insolvency and the UK immediately ordered a halt to all of its British operations. The company's share price is down around 95% in 2020 as a result of its multi-billion dollar accounting scandal. Visit Business Insider's homepage for more stories. Wirecard shares soared as much as 160% on...
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The UK economy declined by more than first expected in the first three months of the year, the Office for National Statistics showed on Tuesday. It was the country's largest drop since 1979, when the country was battling major industrial unrest and high unemployment. Gross domestic product fell by 2.2% in the first quarter, down 0.2 percentage points from the previous estimate of a 2% fall. Households curtailed their spending while other sectors like services, production, and construction all negatively impacted the overall economy leading to the slump in GDP. The Bank of England forecast earlier this year that UK GDP could drop more...
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Sunscreen in the US is regulated by the FDA, yet American sunscreens may not be protecting us as much as the ones you can find in other countries.  Out of 20 best-selling US sunscreens, nine of them didn't meet European standards.  In the video above, dermatologist Dr. Seemal Desai explains what to look for in a sunscreen that protects against skin cancer-causing UVA rays.  Following is a transcript of the video.  Narrator: In 2017, researchers tested 20 best-selling US sunscreens. The good news is that 19 of them met FDA standards. The bad news? Nine of them didn't meet...
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Europe is preparing to issue a new travel ban on the US due to the spread of coronavirus cases in the country. The European Commission has recommended that third countries with high numbers of coronavirus cases should be excluded from plans to lift travel restrictions to Europe next month. The US hit a record high of 40,000 daily coronavirus cases on Thursday according to data from John Hopkins University. This is well above the number of cases deemed acceptable by the European Union. A leaked draft version of the travel ban list grouped the United States with Russia and Brazil as countries set to...
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