Wednesday, 8 April 2020

Business

Pound steady after EU Brexit extension

LONDON: The pound steadied versus the dollar and London’s stock market flattened on Monday after the European Union granted an extension to Brexit until the end of January. Around 1200 GMT, sterling was almost unchanged at $1.2826 compared with late in New York on Friday. London’s benchmark FTSE 100 stocks ...

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Indian tea exports to Pakistan plunged 50% since clashes

NEW DELHI: Indian tea exports to Pakistan have plunged 50 per cent since the two countries clashed in February, according to a report published by Indian business news website Business Standard. Amid growing tensions over the illegal annexation of Indian-occupied Kashmir by Indian Prime Minister Narendra Modi, the tea trade ...

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Netflix is exploring ways to stop password sharing

LONDON: Freeloaders, beware! Netflix officials have announced that they are “aware” and “monitoring” users who avoid paying monthly subscriptions through password sharing. Last week, during the company’s third-quarter earnings interview, Netflix Product Chief Greg Peters said that the company is aware of the users who are involved in sharing passwords ...

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EU set to grant Brexit extension to UK

BRUSSELS: EU member states are expected this morning to grant an extension of Britain’s membership of the EU until 31 January next year. It is believed that the members states will give Britain the option to formally leave the bloc earlier if the Withdrawal Agreement is ratified before the end ...

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Germany Budget Surplus to Reach Billions in 2019

BERLIN: Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes. Germany will have a budget surplus this year amounting to billions of euros, Handelsblatt reported, citing government sources. Greater-than-expected tax revenue will result in the figure reaching the “high-single ...

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Dow Chemicals profit beats estimates on cost cuts

NEW YORK: Dow Inc’s quarterly profit beat Wall Street estimates on Thursday, as it kept a tight lid on costs against the backdrop of lower prices for chemicals used in making plastics. An oversupply of ethylene and polyethylene, used in making plastics, and the impact of US-China trade tensions on ...

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Libra key to America’s financial leadership: Mark Zuckerberg

WASHINGTON: Facebook’s proposed digital coin Libra would “extend America’s financial leadership” in the world, chief executive Mark Zuckerberg said in remarks for delivery to lawmakers released. In the testimony released a day ahead of Zuckerberg’s appearance before a House of Representatives committee, the head of the world’s biggest social network ...

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Ford posts lower third-quarter profit

DEARBORN: Ford Motor Co on posted a lower quarterly profit as it took charges for its global restructuring, and reduced its full-year operating profit forecast due to higher warranty and incentive costs, as well as lower-than-expected sales in China. The revised forecast sent shares down 3.4pc to $8.90 in after-hours ...

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TikTok surpasses Facebook, Instagram in app downloads

LONDON: Video creating and sharing app, TikTok, has surpassed top social networking apps including Instagram, Snapchat, Helo, and Twitter, in terms of downloads on the Google Play Store. The Sensor Tower Report 2019 ranked TikTok as the most downloaded social media app worldwide for September 2019 with close to 60 ...

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