Friday, 20 October 2017

Business

Google puts Uber on alert by investing in arch-rival Lyft

UBER-LYFT

LONDON: Alphabet’s growth-stage investment division, CapitalG, will lead the the investment, which comes four years after Google Ventures, which targets early stage companies, made a $250m investment in Uber. Lyft only operates in the US, but it now has a quarter of the market there, growing its share as Uber ...

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British Airways apologizes to bed bug-bitten travellers

bed-bug

LONDON: A Canadian family who says they were bitten all over by bed bugs on a flight to England is now getting an apology from the airline. New Westminister resident Heather Szilagyi, her seven-year-old daughter Molly and her fiancé, Eric Neilson, were on an overnight British Airways flight from Vancouver ...

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FBI, UK Serious Fraud Office start investigating Gupta family

GUPTA

JOHANNESBURG: The long arm of the law is finally catching up with South Africa’s crony capitalist Guptas and their network of criminality and corruption. FBI has launched a probe into the family, focusing on nephews of the Gupta brothers: Ashish and Amol Gupta. Both are US citizens which opens them ...

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Unemployment down again in UK

Unemployment uk

LONDON: UK unemployment fell by 52,000 in the three months to August to 1.4 million, leaving the jobless rate unchanged at 4.3% from the previous quarter. However, pay still failed to keep pace with inflation, with the real value of earnings down 0.3% over the past year. Total earnings, excluding ...

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Twitter steps up fight against sexual harassment

sexual-harassment

LONDON: Twitter has announced tough new rules on tweets containing “non-consensual nudity” and sexual harassment, which could be seen as fallout from the Harvey Weinstein abuse scandal. The rules will come into force in the coming weeks, Twitter said in a statement late Tuesday, after company co-founder Jack Dorsey on ...

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US Regulators hit Rio with £28m fine and fraud charge

An employee talks to a visitor at the reception desk of the Rio Tinto Limited Shanghai Representative Office in Shanghai August 5, 2010. REUTERS/Stringer

LONDON: US regulators have charged Rio Tinto and two of the mining giant’s former executives with fraud, alleging they tried to cover up a failed investment in Mozambique six years ago. The company vigorously denies the allegations by the Securities and Exchange Commission (SEC) against itself and its former chief ...

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Thomson completes transition to TUI in UK

TUI -UK

LONDON: The UK’s leading travel company officially re-brands today as Thomson transitions to TUI, following an extensive awareness building campaign across a six-month period. The effort has already seen TUI’s brand awareness treble and over half the UK population saying they are aware of the brand migration. The UK tour ...

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Indian-origin teenager becomes UK’s youngest millionaire

Akshay Ruparelia

LONDON: An Indian-origin teenager has become one of Britain’s youngest millionaires after his online estate agency business got valued at 12 million pounds in just over a year. Akshay Ruparelia, at just 19 years of age, juggled his school work with negotiating property deals for his no-frills business that offers ...

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Virgin Money shares gain

Virgin Money

EDINBURGH: Virgin Money has reaffirmed its full-year guidance as it continued to grow mortgage, credit card and deposit balances in the three months to 30 September. The Edinburgh headquartered bank notes gross mortgage lending stood at £6.5 billion at the end of Q3 and net lending stood at £3.2 billion. ...

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Netflix Share Price Reaches All-Time High

Netflix

LONDON: Netflix Inc.  NFLX reported third-quarter earnings after the market closed on Monday, sending shares higher after a record closing high. The company’s subscriber growth beat expectations as did revenue, though profit came in lighter than expected. Executives are expected to discuss recent price hikes and their effects in a later interview; past ...

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