EU clears 50 billion pound UK 'umbrella' scheme to support economy
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BRUSSELS (Reuters) - The European Commission said on Monday it had approved a 50 billion pound British "umbrella" scheme to support companies affected by coronavirus outbreak.The approval is in line with modified EU rules allowing a temporary and limited amount of aid to businesses facing a sudden shortage of liquidity. The British aid would take the form of grants, equity injections, tax advantages and loans.Britain left the European Union at the end of January, but continues to be subject to..