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UK’s Sunak warns of economic and social impact of lockdowns: The Sun By Reuters

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(Reuters) – British finance minister Rishi Sunak warned that a further lockdown would cripple both the economy and society, in an interview with The Sun newspaper, stating that lockdowns have a very strong economic and social impact.

“Having a difficult economy has an impact on both our ability to fund public services like the NHS but also on individual people’s long-term health outcomes,” Sunak said, according to the newspaper https://

Sunak spoke about his dissatisfaction with the 10 pm curfew on pubs and restaurants saying that, “Of course it’s frustrating. I know it’s difficult and wish we didn’t have to do these things.”

He added that ministers were divided on the issue but encouraged Brits to abide by the rules.

Sunak had last month announced a new jobs support scheme that would help firms employ people on shorter hours, but warned he could not save every business or job.

The British government launched a new employment programme on Monday aimed at helping those left jobless due to the COVID-19 pandemic to get back into work.

Sunak in his interview expressed full support for British Prime Minister Boris Johnson, saying that Johnson faces difficult decisions and “awful trade-offs”.

“The fact that he can do it and maintain that sense of optimism is extraordinary,” he added.

Sunak also defended Britain’s Eat Out to Help Out scheme stating that the scheme helped to save two million jobs and kick-start the economy.

He added that he would not remain silent in his fight against future lockdowns and implored his fellow ministers to strive for normality in the face of COVID-19, according to the newspaper.

Sunak’s interview came ahead of his speech to the virtual Conservative Party conference on Monday.

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Economy

Israeli visual assistance co TechSee raises $30m

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Israeli intelligent visual assistance company TechSee today announced it has closed a $30 million Series C financing round co-led by OurCrowd, Salesforce Ventures, and TELUS Ventures with participation from Scale Venture Partners and Planven Entrepreneur Ventures.

The company has grown rapidly by reducing customer friction points for enterprises through its visual assistance technology, which bridges the visual gap in customer service, allowing customers and technicians to receive real-time AR guidance on their smartphone or tablet screens in assisted service or self-service mode. The company has also developed computer vision AI with technology that can provide visual guidance to users installing, operating, or troubleshooting networking devices, smart home products, home appliances, and more. TechSee’s AI platform can automatically identify components, ports, cables, LED indicators, and more to detect issues and suggest resolutions for consumers, contact center agents, and field technicians.




The Herzliya-based company was founded in 2015 by CEO Eithan Cohen, Prof. Gabby Sarussi and Amir Yoffe. TechSee also has offices in New York, Florida and Madrid. The company raised $16 million in a Series B financing round in December 2018.

Cohen said, “There has been a significant increase in demand for contactless customer service technologies propelled by Covid-19 social distancing requirements and the acceleration of digital transformation projects. Our Visual Automation technology is at the heart of it, and now that momentum is growing exponentially as businesses seek to reduce costs and optimize customer experience strategies in the current environment. Our vision is to get rid of the user manual and replace it with dynamic AR assistants.”

TechSee has established commercial partnerships with Verizon, Vodafone, Orange, Liberty Global, Accenture, Hitachi, and Lavazza, among others.

Published by Globes, Israel business news – en.globes.co.il – on October 26, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020




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China’s NEV sales to account for 50% of all new sales by 2035, industry body says By Reuters

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© Reuters. The Wider Image: Trade tensions with U.S. testing Chinese consumers

SHANGHAI (Reuters) – Sales of new energy vehicles (NEV) will make up 50% of overall new car sales in China, the world’s biggest auto market, by 2035, an industry official said on Tuesday.

The influential industry body, China Society of Automotive Engineers (China-SAE), has members of senior auto executives and academicians and is involved in the setting of the country’s mid- to long-term energy vehicle policies.

NEVs include battery electric, plug-in hybrid and hydrogen fuel-cell vehicles. Industry expects China to sell around 1.1 million NEVs this year.

Li Jun, president of China-SAE, told the association’s annual conference in Shanghai on Tuesday that the association predicts 95% of NEV sales in 2035 will be battery electric vehicles.

Li added hybrid vehicles will make up the rest 50% of all new vehicle sales by 2035.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Yandex to launch food delivery services in Israel

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Russian tech giant Yandex is hiring in Israel ahead of setting up food delivery operations in the country, a source close to the matter has told “Globes.” Yandex first entered Israel two years ago with its taxi hailing app Yango and has since expanded operations to music services competing with Spotify.

Yandex is a tech giant whose search engine is the Russian language equivalent of Google. Headquartered in Moscow, the company is traded on Nasdaq with a market cap of $20 billion.




The company is now looking to carve out a slice of the lucrative Israeli food delivery market, which has grown enormously during the Covid-19 crisis. Yandex will commence operations in the Tel Aviv area first in the coming days.

Yandex operates two services for food deliveries. Yandex.Lavka for deliveries of supermarket orders and Yandex.Eats for deliveries of restaurant orders. Yandex is expected to start with the Yandex.Lavka service rather than Yandex.Eats, where it will face stiff competition from Finnish company Wolt and local rival Ten Bis, which operate restaurant deliveries.

As part of the Yandex.Lavka service in Russia the company also sells its own food products including fresh fruit and vegetables, dairy products and ready-made meals.

Published by Globes, Israel business news – en.globes.co.il – on October 26, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020




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