March 4, 2021 Biz in 60

US suspends tariffs on UK goods seeking to resolve dispute The United States has agreed to suspend retaliatory tariffs imposed on UK goods over a long-running dispute over aircraft subsidies. The tariffs on a range of products including Scotch whisky, biscuits and clotted cream will be halted for a period of four months. The UK had earlier dropped its tariffs on some US goods, as it looks to seal a post-Brexit trade deal with Washington. Lufthansa reports record loss of $8.1B in 2020 Lufthansa has suffered its worst annual loss in its history, as the COVID-19 crisis ravages the aviation industry. Net loss came in at 8-point-1 billion dollars for 2020, after global travel restrictions wiped-out passenger demand. The German carrier has also warned that air traffic would not return to pre-pandemic levels before the middle of the decade. Deliveroo seeks $10B valuation in London IPO Deliveroo is planning a London stock market listing that could value the British food delivery firm at up to 10-billion dollars. The IPO could mark the biggest new share issue in the UK in three years. Deliveroo will adopt a dual-class share structure for its market debut, giving its founder and CEO Will Shu more control over the direction of the company.