Sunday, 23 April 2017

Business

Facebook loses $500m Oculus virtual reality case

NEW YORK: A US court has ordered Facebook and other defendants to pay $500m (£395m) after finding they unlawfully used a firm’s virtual reality technology. The jury found Oculus, which Facebook bought in 2014, used computer code belonging to video game developer Zenimax to launch its own VR headset. Oculus ...

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TalkTalk CEO Harding steps aside for public service role

LONDON: TalkTalk CEO Dido Harding has stepped down, leaving the ISP in rude health. Dido Harding, CEO of internet service provider (ISP) TalkTalk has announced she is to leave the business in May 2017. A seven-year veteran in the job, Harding will be replaced with consumer managing director Tristia Harrison. ...

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Millions of XBox and PSP gamers details stolen by hackers

More than 2.5 million Xbox and PSP gamers have had their details stolen in a massive cyber breach of two games forums, it has been claimed. The XBOX360 ISO and PlayStation’s PSP ISO forum, both unofficial sites where players share links to download free and pirated versions of games, were reportedly ...

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Households face 2% rise in water bills

LONDON: Water UK, which represents water companies, said the average 2% increase is in line with five-year plans confirmed by regulator Ofwat in 2014, and will contribute to a £44 billion investment in services and environmental improvements. It comes as companies roll out compulsory water meters for households in areas ...

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UK manufacturing accelerates

LONDON: Output for the UK’s manufacturing sector grew at its fastest rate for 2½ years in January while input prices rose by the most on record, according to the latest survey of purchasing managers working in the industry. The main source of new orders was the domestic market, although there ...

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UK consumer confidence rises in January 2017

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LONDON: Consumer confidence in the UK saw a slight uptick in this month, according to an index compiled on behalf of the European Commission. The Consumer Confidence Barometer, conducted by market research company GfK, showed that confidence rose 2 points in January to reach a score of -5. But the ...

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Vodafone’s Indian unit in merger talks

LONDON: Vodafone has said its Indian business is holding talks about a major merger which would create the country’s largest telecoms firm. It said Vodafone India, the country’s second biggest mobile operator, was in negotiations with Idea Cellular, India’s third largest network. There was “no certainty” a deal would be ...

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Danish drugs giant makes big UK investment

Denmark’s Novo Nordisk is to invest £115m over ten years in a new science research centre in Oxford. Eventually employing 100 academics and scientists, the facility will work on new ways of treating type 2 diabetes. The decision to invest in the UK was described by David Gauke, chief secretary ...

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Starbucks CEO Schultz plans to hire 10,000 refugees after Trump ban

Starbucks Corp (SBUX.O) Chief Executive Officer Howard Schultz said on Sunday that the company planned to hire 10,000 refugees over five years in 75 countries, two days after Trump’s executive order banning refugees from certain countries. Trump on Friday put a four-month hold on allowing refugees into the United States ...

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UK car manufacturing hits 17-year high

UK car production rose to a 17-year high in 2016, according to the latest figures published by the Society of Motor Manufacturers and Traders (SMMT). Some 1,722,698 vehicles rolled off production lines last year from some 15 manufacturers, an 8.5% increase on total production in 2015 – and the highest ...

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