Saturday, 6 June 2020

Bloomberg

European banks brace for storm as coronavirus hits earnings

LONDON: European bank stocks are trading close their steepest-ever discount to US rivals and early signals show that first-quarter earnings may only reinforce the gap. The continent’s lenders, already in a tough spot before the coronavirus outbreak hit, are likely to detail more worrying news for their embattled investors. In ...

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Singapore oil trader Hin Leong hid $800M in losses

The son of the legendary founder of Hin Leong said the Singapore oil trader hid about $800 million in losses racked up in futures trading, suggesting a much bigger hole in the company’s finances than thought, according to people with knowledge of the matter. The downfall of Hin Leong Trading ...

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Uber’s safety review has thousands of sexual assault reports

SAN FRANCISCO: Ride-hailing giant Uber has released its first safety review which contains thousands of sexual assault reports. The company has also revealed the changes it was making to make rides safer for its passengers and drivers. The two-year safety review contains almost 2,936 reports pertaining to sexual assault that ...

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H&M tests renting clothes to address environmental challenge

STOCKHOLM, Sweden – Hennes & Mauritz AB is testing out a clothing rental *service* as the fashion industry faces mounting criticism for waste and pollution. Acclaimed fashion brand H&M is attempting to do its part in reducing the waste and pollution caused by the fashion industry. The Swedish fashion brand ...

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Katrina Kaif poses with her ‘best boys’

BOLLYWOOD: here is not a dull moment in Bollywood  diva Katrina Kaif’s life. Or shall we say on  her Instagram timeline, to be precise. The rosy-cheeked Kat, who has over 28 million followers on the photosharing app,  keeps updating her fans about her activities. Be it her new Bollywood projects, ...

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Security experts find flaws in ATM machines

A pair of security researchers has discovered two vulnerabilities in cash machines widely used across the US that could allow a determined criminal to steal cash and customer data. Brenda So and Trey Keown, of New York-based Red Balloon Security, found the flaws in machines manufactured by Nautilus Hyosung America, ...

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FAA downgrades Malaysia’s air safety rating

KUALA LUMPUR: The US Federal Aviation Administration (FAA) has downgraded Malaysia’s air safety rating, restricting the country’s airlines from adding flights to the United States, four sources familiar with the matter and a US government official told Reuters. The FAA’s safety rating is based on a country’s aviation oversight regime ...

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Scientists around the world declare climate emergency

Forty years ago, scientists from 50 nations converged on Geneva to discuss what was then called the “CO2-climate problem.” At the time, with reliance on fossil fuels having helped trigger the 1979 oil crisis, they predicted global warming would eventually become a major environmental challenge. The scientists got to work, ...

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Credit Suisse CEO says clients unshaken by Khan affair

ZURICH: Credit Suisse boss Tidjane Thiam said a “media campaign” surrounding the Swiss bank’s tailing of former International wealth management executive Iqbal Khan was not affecting its client relationships. Speaking publicly for the first time since the incident prompted an internal inquiry at the bank and a criminal investigation, Thiam ...

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T-Mobile beats quarterly phone subscriber estimates

LONDON: T-Mobile beat analysts’ third-quarter estimates for net new phone subscribers who pay a monthly bill, boosted by competitive wireless plans aimed at fending off its bigger rivals. The third-largest US wireless carrier by subscribers said it added 754,000 phone subscribers on a net basis in the three months ended ...

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