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Amazon Founder and Blue Origin Team Launch New Shepard – Live Updates Business

gHello. We’re just three hours away from scheduled launch time when Jeff Bezos is set to take to space for the first time, a historic moment for private space travel and exploration.

Weather permitting, his Blue Origin rocket, New Shepard, will lift off around 2 p.m., around 8 a.m. local time, taking Mr. Bezos and three other people into space.

The last stage of the rocket is expected to spend about 3 minutes in space, before falling back to earth and landing by parachute.

We’ll follow all updates and developments here, providing you with all the background. You can also watch a live stream of the live launch above.

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Source: www.telegraph.co.uk
This notice was published: 2021-07-20 10:13:39

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EasyJet lost £ 3.5million per day until spring 2021 Business News

Britain’s largest low-cost airline lost £ 3.5million a day between April and June 2021, with passenger numbers well below pre-pandemic levels.

But in its business update for the third quarter of its fiscal year, easyJet said the overall loss of £ 318million before tax – representing £ 40 per second – was as expected.

The carrier claims to have “maintained its disciplined approach to capacity and cash management.” Net debt is broadly stable at around £ 2 billion.

The number of passengers was less than 3 million, with only 66% of the seats occupied – up from about 93% before the pandemic.

Even in its busiest June, capacity was only a sixth of 2019 levels.

In anticipation of the peak summer months of July, August and September, easyJet says it will carry up to 60% of pre-pandemic traffic.

Johan Lundgren, Managing Director of easyJet, said: “We have used our existing strengths as our network with a renewed purpose – by pivoting capacity to Europe where we saw the greatest demand. “

He told BBC Today that two-thirds of income came from mainland Europe, up from 50% before the pandemic.

“The UK has had some of the toughest travel restrictions,” he said.

“We know people want to fly, we know they want to travel. It is about lifting the restrictions.

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Source: www.independent.co.uk
This notice was published: 2021-07-20 07:24:50

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FTSE 100 hit by Covid fears as £ 44bn was wiped out in global sell-off, Asian stocks trade lower as Sensex loses 400 points Business News

Britain’s FTSE 100 took a heavy blow on Monday as it fell to a two-month low and wiped £ 44bn from the markets amid a global sell-off triggered by fears of an increase in Covid-19 cases and of its impact on economic recovery.

The blue chip index fell more than 164 points, or 2.3%, to end at 6,844.4, its worst one-day drop since May 11 and its lowest closing point since early April.

All sectors in the first index closed in the red with travel-related stocks down 3.5%, falling to their lowest level since December 2020 with growing fears of further travel restrictions. The ITV television network and Rolls Royce were among the biggest losers in the index, losing more than 6.6 and 6.5% each, with International Consolidated Airlines Group recording a loss of 5.2%.

The mid-cap FTSE 250 fell 2.3% or 526 points to close at 21,940 as England spiked in new cases and fears overshadowed optimism over the lifting of restrictions. The mid-cap index also saw £ 9.6 billion fall from its value on National Freedom Day.

European stock markets have also collapsed with fears of Covid as travel stocks lead losses on major indexes. The pan-European Stoxx 600 fell 2.3% to its lowest close in two months, with the German DAX and French CAC both losing more than 2.5%.

Wall Street also suffered heavy losses on Monday as U.S. stocks fell aggressively amid concern of increasing Covid cases slowing global economic growth. All three major indices saw a massive selloff, with the Dow Jones Industrial Average falling 852 points, or 2.4%. The S&P 500 fell 1.9%, with the energy and industrials sectors performing the worst. The tech-dominated Nasdaq Composite fell 1.3%, its worst losing streak since October.

The United States is averaging nearly 30,000 new cases per day over the past seven days ending Friday, up from a seven-day average of around 11,000 cases per day a month ago, according to CDC data. . While cases around the world are also experiencing a peak.

On Tuesday, depressing trends continued with Asian stocks as all major indices fell and continued to trade in the red as growing fears that the spread of the Delta variant of the coronavirus would hurt the global economic recovery. sharply drops assets, including oil.

The MSCI index of Asia-Pacific stocks outside Japan fell 1.4% mid-term, with Australia’s S & P / ASX 200 down 0.5%. Japan’s Nikkei 225 hit a six-month low early in trading and widened losses, eventually recovering a bit and trading 0.7% around 1pm local time. The Hang Seng Index opened 0.3% lower and slipped 1.1%, while the Shanghai Chinese Composite Index fell 0.4% at 1pm.

Indian Sensex also lost over 400 points during the first few hours of trading, dipping below 52,200 while Nifty dropped from 15,600 levels.

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Source: www.independent.co.uk
This notice was published: 2021-07-20 05:51:35

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‘Freedom Day’ comes with a whimper as mixed messages and fears of new wave of Covid dampen celebrations Business News

IIt was meant to be a triumphant expression of England’s success in winning over Covid-19. Boris Johnson reportedly planned for a “Churchillian” victory speech to be delivered at a historic location on what has been dubbed “Freedom Day.”

As it turned out, the end of the restrictions imposed by law in England came with more of a whimper than a flowering of war rhetoric.

An alarming increase in hospitalizations has forced the government to tone down its message considerably. The Prime Minister also faced the embarrassing inconvenience of having to self-isolate after Health Secretary Sajid Javid fell with the virus, all of which took the sparkle of the festive mood as the country was choking in a sticky 30 degree air.

These concerns were far from the minds of clubbers on dance floors across the country who were the first to adopt ending restrictions as midnight struck Sunday.

Hungry for the special kind of hedonistic release that only nightclubs can deliver, revelers partied the night away after standing in line for hours in some cases. At London’s Heaven nightclub, balloons rained on an ecstatic crowd as a new era was – hopefully – greeted.

“It was extremely moving to see clubs and venues reopen, with people dancing and listening to music until the early hours of the morning,” said Michael Kill, CEO of the Night-time Industries Association.

People felt safe entering clubs for the first time in 17 months, he said, but he warned that the July 19 reopening was only the first step on a long road back towards the financial viability of an industry decimated by the pandemic and grappling with huge debts.

“In many ways, relief has come from the end of uncertainty,” Kill said. “But it is difficult to shake the lingering concern over a winter wave with further restrictions from October and nightclubs being the scapegoat.”

His words would later prove to be premonitory.

Scientists had already warned before Monday’s reopening that the congregation of thousands of people, many not yet vaccinated, in nightclubs risked creating a wave of new “superspreaders” events.

Far from the blur of restless limbs and dancing bodies on English dance floors, statisticians were releasing cold and harsh data showing how badly the UK hotel industry is.

As Freedom Day dawned, the Office for National Statistics revealed that spending at pubs, bars, restaurants, hotels and nightclubs had only returned to 70% of its pre-crisis level. pandemic at the end of May.

In the City of London, too, there was little sign that the country had turned a corner. Stock prices plunged and traders’ screens flashed a sea of ​​red when stock markets opened at 7:30 a.m.

The FTSE 100 index fell 2.3%, wiping out £ 44 billion from the value of some of the largest listed companies in the UK. The FTSE 250 index lost an additional £ 9.6 billion. The reason? Investors fear a resurgence of Covid-19 that could derail the global recovery.

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, summed up the mood: “Far from giving investors a boost of confidence, Freedom Day has seen it evaporate, as the sharp rise in interest rates has evaporated. infection is disrupting businesses across the UK, ”she said.

Much of the problem is that the increase in the number of cases inevitably means that, in addition to people who get sick, many more have to self-isolate after coming into contact with someone with Covid.

“From retail to manufacturing and hospitality, warnings are mounting and rapidly that mandatory isolation is leading to reduced hours of operation, a drag on sales and reduced production,” explained Mrs. Streeter.

Greene King said he had closed 33 of his pubs due to a staff shortage while Slug and Lettuce owner Stonegate reported 1,000 employees were currently unavailable. The so-called pingdemia has also threatened to force the shutdown of production lines at factories, including those of Nissan and Rolls-Royce.

In workshops, pubs and offices, employers each took their own approach on Monday, best interpreting government guidelines within days of its release.

In Soho, John Darling, COO of Peruvian Japanese restaurant Chotto Matte, was relieved by the rule changes.

“The removal of social distancing regulations will allow catering professionals to fully focus on their customers, delivering memorable tours and world-class quality rather than focusing on QR codes, checking tracking and traceability and wearing a mask in the toilet, ”he said.

“Atmosphere, hospitality and commitment will once again be at the top of our agenda! “

At Warwick’s Fourpenny Shop Pub & Hotel, owner Chris Proudfoot said plastic screens have been removed but table service – which is no longer required by law – is continuing. “Some of our employees wear face shields, but some don’t,” he said.

Just down the road, at …

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Source: www.independent.co.uk
This notice was published: 2021-07-19 20:38:31

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Greene King closes 33 pubs after staff told to self-isolate Business News

One of the UK’s largest pub chains has been forced to shut down 33 of its sites after workers were asked to self-isolate.

Nick Mackenzie, Managing Director of Greene King, told BBC Radio 4’s Today program: “It’s a problem and I think it could get worse. It disrupts business.

“We have had to close 33 pubs in the past seven days due to understaffing due to self-isolation.

A sharp rise in the number of Covid cases has resulted in more than half a million people being ‘pinched’ by the NHS app after coming into close contact with someone with Covid-19 in the week leading up to the 7th July.

That number is expected to rise as all restrictions are lifted on Monday.

Slug and Lettuce owner Stonegate said 1,000 of his employees are unavailable for work and 15 of his bars are closed.

Advertising groups, including Stonegate, wrote to the Prime Minister last week urging him to relax the rules so that workers who have received two doses of the vaccine or who test negative after having been vaccinated do not to self-isolate and return to work.

Mr. Mackenzie added: “Across the industry, we believe that about one in five of our team has been affected by this and as a result it is a real problem for us to start a business in the world. daily – we must have shortened hours in certain circumstances. “

The prime minister came under heavy criticism over the weekend after it was announced he would not be self-isolating despite his health secretary Sajid Javid found out on Friday that he had contracted the virus. Downing Street quickly withdrew and confirmed Mr Johnson and Rishi Sunak would self-isolate.

Humphrey Cobbold, CEO of PureGym, told the Today program: “We’ve been talking internally for some time about living in ‘United Pingdom’ and it’s become a huge challenge for individuals and businesses.

“Up to 25%, in some areas, of our staff have been asked to self-isolate – we have been able, through flexibility and work sharing, to keep the sites open so far, but this has been a very close call in some circumstances, and I would echo that there is a different way of responding to pings for vaccinated people and using lateral flow testing that would help industries of all kinds a lot and keep the functioning of the economy. “

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Source: www.independent.co.uk
This notice was published: 2021-07-19 14:55:47

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Global Stock Market Update: FTSE 100 Closes Week With Losses As Covid Concerns Rise Across The Globe, Asian Stocks Open Lower As Sensex Dips Over 350 Points Business News

London’s FTSE 100 fell on Friday, driven by lower metals and mining inventories and growing concerns over an increase in Covid-19 infections in the UK as the index posted a weekly loss.

The blue chip index closed 0.7% or 54 points lower at 7,008, the lowest in a month after rising 0.6%. Commodities trading firm Glencore and metals and mining firm Rio Tinto were down 3.4% respectively. Bank stocks such as Natwest and Barclays were also among the main losers.

However, the biggest drop was reported by fashion house Burberry, which fell 5% even after saying its sales were up and returning to pre-pandemic levels. The group recorded a 1% increase in sales in the first quarter of this fiscal year with the equivalent period in 2019 before the outbreak of the pandemic.

GlaxoSmithKline gained 1.3% after the drugmaker said its anemia drug for patients with kidney failure was successful in late-stage trials.

The domestically focused FTSE 250 mid-cap index fell 0.2%, dragged down by industrials.

Meanwhile, coronavirus infections are worrying investors around the world, as the UK’s chief medical adviser has also sounded the alarm. Chris Whitty warned on Friday that the number of people hospitalized with Covid-19 is currently doubling every three weeks or so and could reach “pretty scary numbers” if the trend continues.

The pan-European Stoxx 600 index also ended the session down 0.3%, with mining stocks dragging it lower, falling 2.8%.

On Wall Street, the main US indices also fell on Friday after the consumer confidence index fell worse than expected. However, strong retail sales figures and earnings reports limited the losses.

The Dow Jones Industrial Average lost 0.8%, the S&P 500 fell 0.7%, and the Nasdaq Composite lost 0.8%.

The University of Michigan’s US Consumer Confidence Index stood at 80.8 for the first half of July, down from 85.5 last month, worse than expected. The consumer price index in the United States rose 5.4 percent in June from a year ago, the fastest pace in nearly 12 years.

Asian stocks fell across the board on Monday as pessimism set in following the drop in global markets late last week and the rise in Covid-19 infections regionally.

Japan’s benchmark Nikkei 225 lost nearly 1.5% in the early hours of trading, while South Korea’s Kospi fell 0.9%. The Australian S & P / ASX 200 fell 0.8%. The Hong Kong Hang Seng fell 1.6%, while the Shanghai Composite edged down 0.3%.

Indian stock markets also got off to a lower start on Monday, as concerns over inflation and coronavirus infections weighed on sentiment. The benchmark S&P BSE Sensex lost more than 250 points at the start of trading, while the Nifty50 started with a 100 point decline driven by bank stocks.

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Source: www.independent.co.uk
This notice was published: 2021-07-19 06:09:49

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Government to cut bureaucracy for trade with developing countries Business News

Developing countries will face fewer obstacles when they trade with Britain if the Department of International Trade goes ahead with the proposed changes.

Officials seek views on plans to ease trade rules with developing countries, including the complex rules of origin requirements, which determine whether a product’s inputs qualify it for lower tariffs. Dear.

Other products, such as rice and sneakers, may also see their tariffs reduced, making them more attractive to UK-based importers.

These additional measures would make the proposed Developing Country Trading System (DCTS) more generous than the EU’s equivalent, the Generalized System of Preferences (GSP), which Britain “rolled over” after Brexit. It follows a review of how countries like Canada, the United States and Japan, as well as the EU, manage trade with poorer countries.

International Trade Secretary Liz Truss said in a statement: “Countries like Bangladesh and Vietnam have proven that it is possible to trade to improve living standards, and our new trading system for countries. developing will help others to do the same.

The program is expected to include 70 countries, a spokesperson for the Department of International Trade said. A country will be eligible because it falls under the United Nations Least Developed Country Framework or the World Bank’s Measure of Low Income and Lower Middle Income Countries.

Economic modeling suggests that the UK is unlikely to see significant near-term growth from new trade deals, although officials have argued that calculations like this cannot take into account the impact of future economic growth of the respective markets.

This is a problem with so-called static modeling that economists widely accept. However, Britain’s future new trade deals are overshadowed by its trade with the European Union.

However, there is evidence that relaxing trade rules for poorer countries can have a significant impact on their respective industries. It also makes their products more competitive for UK-based companies looking for inputs from overseas. Under the EU’s GSP system, most imports were of textiles, footwear, machinery and mechanical appliances.

The new UK consultation also comes after some developing country exporters who also have trade deals suffered significant disruption after Brexit. After a renewal deal was not reached before the end of the Brexit transition period, Ghanaian producers faced thousands of pounds in tariffs on bananas.

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Source: www.independent.co.uk
This notice was published: 2021-07-18 23:36:35

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Morrisons plans cashless stores Business

Morrisons is testing supermarkets without a cashier or staff that would allow customers to simply go out with their grocery bag in an attempt to compete with Amazon’s Fresh stores.

The grocer, which is the subject of a multibillion pound takeover, has tested the concept known internally as Project Sarah at its Bradford headquarters. The store is open to thousands of employees, and retailer FTSE 100 plans to expand the idea more widely.

The UK’s fourth largest supermarket is working with US tech company AiFi, which uses cameras to track items shoppers pick up and put in their shopping carts, and loads them through a smartphone app.

A source close to Morrisons said the technology had worked well in its pilot store, with “a few more in the air. The technology itself is phenomenal, using cameras rather than weights – it has been very smooth.

The plans were first reported by the Mail on Sunday.

Amazon pioneered cashless supermarkets, launching its Amazon Fresh stores in the US and introducing the concept to the UK in March with a store in Ealing.

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Source: www.telegraph.co.uk
This notice was published: 2021-07-18 17:00:00

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UK forced to reopen sensitive Ukraine trade pact after text errors Business News

The UK was forced to reopen its trade deal with Ukraine, one of its most sensitive post-Brexit deals, after mistakes were made in the original text, The independent can reveal.

The pact was signed by Prime Minister Boris Johnson in October last year and has been hailed as a key example of Britain’s trade and foreign policy post-Brexit. The deal not only covers trade relations between Britain and the Eastern European country, but also defense cooperation to support Kiev’s sovereignty.

It follows Russia’s annexation of Crimea in 2014, an area still internationally recognized as part of Ukraine. He also intervened in a context of deteriorating relations between Moscow and London following the poisoning of Sergei Skripal in Salisbury in 2018.

UK-Ukraine relations were brought to the fore again last month when Russia claimed to have fired warning shots at a British ship as it passed near the Crimean Peninsula.

Highlighting the political importance of the deal in October, Johnson said the UK was “Ukraine’s strongest supporter”. He added: “Whether it is our defense support, our stabilization efforts, our humanitarian aid or close cooperation on political issues, our message is clear: we are totally determined to defend the sovereignty and territorial integrity of Ukraine ”.

However, two officials said The independent that the pact already had to be reworked after errors were found in the drafting of the trade chapters. Some of the errors are the result of cutting and pasting sections that tie the UK to EU rules, the same officials said.

Problems arose when the Commerce Department sought to create guidelines on how the deal should be used by businesses in February and March, after the deal went into effect in January. However, the fact that the agreement required further negotiations and redrafting was not made public by the Department of International Trade.

One of the same government officials said it was a deal “nobody wanted to be wrong.” Especially since the agreement has been the subject of particularly careful examination by the European Union, they added. Separately, an EU official said The independent that they had noted that the agreement bound the UK to rules in certain areas they did not expect.

A spokesperson for the Department of International Trade said: “It is common practice for small sections of agreements to be amended and updated over time to reflect developments or to add greater clarity that is useful to business. “

However, one of the same officials familiar with the development of the deal said the changes that needed to be made were not minor and could have a significant impact on businesses. They added that these were errors rather than an update.

A company operating in Ukraine, which the official did not name due to business sensitivities, also reported additional issues with the text, they said. The problems concerned trade in services and goods, the official confirmed.

Emily Thornberry, fictitious Labor Secretary for International Trade, said: “This is not the only time the government has made fundamental mistakes in renewing our European treaties, but it is by far the most serious.”

“Of all the 67 non-EU countries with which the UK signed renewal agreements in 2019 and 2020, the agreement with Ukraine was the only one considered to be of sufficient strategic importance to be signed. by the Prime Minister himself, which makes it all the more astonishing that it must now be rewritten, ”added Thornberry. “This flagrant act of incompetence must not only be rectified immediately, but urgently explained.”

The sensitivity of UK-Ukraine relations has been underlined in the recent Integrated review of its defense and foreign policy strategy. A section on Russia notes that Britain will increase its support for Eastern European countries, including Ukraine, “where we will continue to build the capacity of its armed forces.”

Sam Lowe, senior researcher at the Center for European Reform, said errors in trade deals are “unfortunate but not entirely rare”. He added that it was not surprising that this happened with a “renewal deal”, as these tend to include more copy and paste of text than new offers.

“It’s a deeper deal than others and includes commitments to follow EU rules in certain areas. And if there’s one thing we’ve learned, it’s that the UK government doesn’t like to be bound by EU rules, ”Lowe said.

A former Australian trade negotiator said The independent that it is true that agreements sometimes need to be changed, but that substantial changes have not often been made so soon after the text of an agreement is finalized.

The ex-negotiator said this could be indicative of the Commerce Department’s rush to strike deals to ensure continuity after Brexit. Small, incorrect changes or not making the right changes to treaties can lead to …

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Source: www.independent.co.uk
This notice was published: 2021-07-17 10:06:57

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“Pingdemic”: Government urged to fight the ravages of the Covid application as thousands of workers isolate themselves Business News

Businesses and unions have called on the government to take action to combat the rapid rise in the number of people being asked to self-isolate.

As ministers have pledged July 19 to be ‘freedom day’, hundreds of thousands are likely to self-isolate as cases rise and NHS enforcement ‘stings’ their contacts narrow.

Latest NHS figures show more than 500,000 alerts were sent to app users in the week to July 7 – an increase of almost 50% from the previous week and the highest figure nowadays.

The so-called “pingemia” is already causing major problems for employers whose staff are unable to work.

Iceland and Sainsbury’s have reported increased absences, while factories, including Nissan’s Sunderland plant, have been hit by hundreds of employees being asked to self-isolate.

Rolls-Royce has said it is “nearing a tipping point” and may have to cut production in half if more workers go nuts.

The Unite union has warned of “damage” to factory production lines, unless the number of Covid-19 cases is brought under control or the rules about who must self-isolate are relaxed.

The latter option risks further catalyzing the spread of the virus at a time when scientists have warned Boris Johnson’s plans to reopen were already a “danger to the world”.

More than 1,200 experts around the world have condemned the Prime Minister’s decision to go ahead with so-called Freedom Day on July 19, calling it “unscientific and unethical.”

The Trade Union Congress (TUC) urged ministers to toughen back-to-work guidelines and make masks mandatory on public transport and in shops.

Masks will no longer be mandatory in England from Monday, but the government says it “expects and recommends” that face coverings be worn in crowded and closed public spaces.

TUC General Secretary Frances O’Grady has warned staff shortages will worsen if people are not protected at work.

“The government urgently needs to toughen its confusing and inadequate return-to-work safety guidelines, starting with making masks a legal requirement on public transport and in shops,” said Ms. O’Grady.

“And if we stop Covid-19 tearing up workplaces, workers must be able to afford self-isolation. “

The TUC is calling for statutory sickness benefit to be raised from its current level of just £ 96.35 per week to the equivalent of living wages.

The NHS app is pinging someone if they’ve spent 15 minutes or more in close contact with someone who has tested positive for Covid-19. The individual is then advised to self-isolate for 10 days.

A senior minister said the government was “concerned” about the number of people on sick leave, but suggested that a planned adjustment to the sensitivity of the app – to reduce the number of people alerted – would not happen before several weeks.

“We will think more about how [the app] is a proportionate response, ”Communities Secretary Robert Jenrick said Thursday. “The government will outline its plans in the coming weeks. “

Unite has called on the government to relax isolation requirements before the scheduled August 16, when double-bite contacts of positive cases no longer need to be isolated.

“It is clear that something has to be done in time for July 19 or else people will just start dropping the app en masse to avoid isolation notices,” Turner said.

“There will be public health consequences if the test and trace is viewed as a nuisance rather than an infection control measure. “

Sir Jonathan Montgomery, former chairman of the ethics advisory board of the NHS Test and Trace app, said he would change the self-isolation requirements.

“We need to think about the consequences of a ping,” the professor of health law at University College London told LBC.

“When the app was designed, we didn’t have the ability to reliably home test, we didn’t have a lot of people bitten, and the big problem with this virus is you can pass it on before you know. that you have it.

“So I wouldn’t change the ping, but I would change the consequences of being pinged.”

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Source: www.independent.co.uk
This notice was published: 2021-07-16 23:53:59