UK announced plans to amend legislation to spur state financial support to troubled companies and sectors, BBC reported. Britain enjoys its independence to direct subsidies without having to wait for approval by Brussels. The new laws set to replace EU rules will grant the government and councils greater freedom to back businesses.
US announced another measure to spur the recovery of its aviation sector which was badly hit by the pandemic slowdown, Reuters reported. The programme of the US Transport Department is intended to compensate up to half of wages of eligible aviation manufacturing companies. The support is envisaged to last for up to six months. The funds are estimated at some three billion dollars.
The European Union is urging the United States to hold off trade sanctions and seek an agreement on aircraft industry subsidies, but Washington has shown no desire to negotiate, EU trade chief Cecilia Malmstrom said on Monday.