All remaining lockdown restrictions in England will be lifted in a week despite a sharp rise in coronavirus cases, British Prime Minister Boris Johnson confirmed Monday, the Associated Press reported. He said it was “the right moment to proceed” as schools close for summer vacation but urged people to “proceed with caution.” Johnson said that although risks of the pandemic remain, legal restrictions will be replaced by a recommendation that people wear masks in crowded places and on public transport.

Aeromexico said on Friday a group of Mexican shareholders and business people had informed the airline they aimed to participate in a major capital raising as part of the company's Chapter 11 restructuring process in the United States, Reuters reported. Aeromexico in a statement said it was unaware that any agreement had been reached so far, but would provide details as and when one was in place. It also noted it expected the investment to be "substantial, controlling and long-term." Delta Airlines, which owned a noncontrolling 51% stake in Aeromexico as of Dec. 31, declined to comment.

The number of corporate insolvencies seen across Scotland more than halved during the first six months of 2021, as the array of government Covid-19 support measures and a supportive lending community continued to help businesses trade their way through the pandemic, Insider.co.uk reported. Analysis of notices in The Gazette by Interpath Advisory - formerly KPMG Restructuring - reveals that a total of 18 Scottish companies fell into administration or receivership from January to June 2021 – down from 37 in the first half of 2020 and 39 in the first half of 2019.

Britain's post-lockdown economic rebound slowed sharply in May despite a relaxation of social-distancing rules, according to official data which also showed a hit to carmakers from the global shortage of microchips, Reuters reported. Gross domestic product expanded by a monthly 0.8%, much faster than its typical pre-pandemic pace but down from April's 2.0% surge. It was also a lot weaker than the median forecast of 1.5% in a Reuters poll of economists. "Of course, the pace of the recovery was always going to slow as the economy climbed back towards its pre-crisis level.

British finance minister Rishi Sunak called for progress on a global deal to agree a minimum corporate tax rate and how to split revenue from large multinationals, as finance ministers from 20 of the world's biggest economies prepare to meet, Reuters reported. Sunak chaired a meeting of finance ministers from the Group of Seven in London last month which reached a provisional agreement, and 130 countries backed similar wide-ranging changes after talks in Paris last week. After years of stalemate, global tax talks gained fresh impetus in recent months under the new administration of U.S.

The United Kingdom is liable to pay 47.5 billion euros ($56.23 billion) to the European Union as part of its post-Brexit financial settlement, RTÉ News reported late on Thursday, according to Reuters. The figures are contained in the EU's consolidated budget report for 2020, according to RTÉ News, with the report adding that the money is owed under a series of articles which both sides agreed to as part of the Brexit withdrawal agreement. The total amount, if confirmed, is significantly higher than expected.

Packing sweaty, heavy-breathing strangers into enclosed spaces may seem like a disastrous business model for the post-pandemic era. But you wouldn’t know it from the love investors are showing shares and bonds of gyms in the U.K., Bloomberg News reported. Gym Group Plc’s stock has jumped about 28% this year, recouping almost all its losses from Covid-19 closures. In the bond market, investors have piled into high-yield debt offerings from the budget chain Pure Gym PLC and the more upmarket David Lloyd.

History suggests Britain's house price surge could threaten hopes of post-Brexit export-powered growth, if finance minister Rishi Sunak uses the housing market to fuel the economy like his predecessors did, Reuters reported. Stoked by his tax break on property purchases and a pandemic-driven rush for larger houses as more people work from home, house prices are rising at the fastest annual rate - at 13.4% in June - since 2004, lender Nationwide says. The housing market holds totemic importance in Britain as a driver of wealth.

As payback time approaches for more than 75 billion pounds ($104 billion) of emergency state-backed loans, Britain's banks must tread a delicate path with businesses propped up during the pandemic, Reuters reported. Faced with trying to limit losses for themselves and taxpayers but also avoid a repeat of the aftermath of the 2008 financial crisis, when banks were vilified and forced to pay millions of pounds in redress for heavy handed debt repayment tactics, lenders are pledging that this time will be different.