Wednesday, 24 May 2017

Business

Lloyds back in private ownership as government sells out

Lloyds

LONDON: The high street bank said last week the Government’s stake had been reduced to 0.25% and the UK taxpayer was set to make at least a £500 million profit from the final sale. It is understood the Government’s final tranche of Lloyds shares have now been sold, with an ...

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Chinese e-commerce giant Alibaba set to enter Pakistan

Alibaba-jackma-Pakistan

HANGZHOU: Alibaba Group Holding Limited (NYSE: BABA), the world’s largest online and mobile commerce company,has announced the signing of a memorandum of understanding (MoU) with the Trade Development Authority of Pakistan (TDAP) during Prime Minister Nawaz Sharif’s visit to the Alibaba Headquarters in Hangzhou, China. Alibaba Group’s Executive Chairman, Jack ...

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Europe stocks upbeat as data cloud Wall Street

EU stocks

LONDON:  European stock markets seemed happy to quietly carry the week’s gains into the weekend, while Wall Street’s worries about retail weakness were compounded by soft core inflation data. Department store chain J.C. Penney reported disappointing sales Friday, adding to concerns over retail sector business sparked by giant Macy’s figures ...

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Uber pledges to invest $500 million in Pakistan by 2020

uber self-driving car

LAHORE: Ride-hailing technology giant Uber has pledged to invest an additional $500 million to grow its operations in the country, the company revealed on Saturday. The announcement came a week after Pierre-Dimitri Gore-Coty took charge of the company s Europe, Middle East and Africa division. The Uber team and Gore-Coty had ...

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Apple’s supplier starts production of ‘A11’ chipset for iPhone 8

iphone-8

PARIS: Taiwan Semiconductor Manufacturing (TSMC) has begun production of Apple’s A11 chipset that will power the iPhone 8. TSMC had initially targeted to produce the chipset much earlier, but due to issues ‘involving stacking components in the backend integrated fan-out packaging process’, it had been delayed – but they have ...

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Setback for Uber as EU court advised to treat it as transport firm

UBER

PARIS: Uber faces the biggest challenge yet to its European roll-out after the region’s top court was advised to rule that the U.S. ride-hailing firm is actually a transport service not an app. Although the opinion of the Court of Justice of the European Union’s (ECJ) Advocate General Maciej Szpunar ...

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Brexit won’t stop Asia from investing in the UK

BREXIT

LONDON: For most Asian property investor, the UK has been one of the most desirable additions to their portfolio and according to the latest figures, this isn’t going to change any time soon. Research from property investment firm JLL reveals that neither the Brexit uncertainty nor the somewhat rushed snap ...

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Massive phishing attack targets millions of Gmail, Google docs users

GMAIL UNDERATTACK

LONDON: An unusually sophisticated identity phishing campaign appeared to target Google’s roughly 1 billion Gmail users worldwide, seeking to gain control of their entire email histories and spread itself to all of their contacts, Google confirmed Wednesday. The worm – which arrived in users’ inboxes posing as an email from ...

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The Eagles sue Hotel California

Hotel-California

PARIS: The Eagles have filed a lawsuit accusing the owners of a Mexico hotel of using the name “Hotel California,” arguably the band’s most famous song, without permission. In a complaint filed late Monday, the Eagles said owners of the 11-room Todos Santos hotel in Baja California Sur “actively encourage” ...

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