Monday, 27 March 2017

Business

Theresa May: UK will be a global leader on trade

LONDON: Theresa May has told leaders at the World Economic Forum in Davos that the UK will be a “world leader” on trade. But the prime minister also warned that inequality blamed on globalisation was aiding the “politics of division”. Her speech to business leaders and politicians in Switzerland comes ...

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Samsung Woes Mount after Recalls, with Boss Facing Arrest

PARIS: A request by South Korean prosecutors to arrest Lee Jae-yong, the 48-year-old vice chairman and de facto leader of Samsung Electronics, has added to the troubles for the country’s most valuable company after a spate of recalls last year. Lee faces allegations he offered $36 million in bribes to ...

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EE mobile firm fined £2.7m for overcharging customers

LONDON: Mobile operator EE has been fined £2.7m by the telecoms regulator, Ofcom, for overcharging tens of thousands of customers. The watchdog found that the UK’s biggest mobile network broke a billing rule on two occasions. Users who called its 150 customer services number while roaming within the EU were ...

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Pakistan ahead of India in Inclusive Development Index: World Economic Forum

LONDON: Pakistan has been ranked 52nd, ahead of India (60th), among 79 developing economies in the Inclusive Development Index, according to a World Economic Forum (WEF) report. WEF’s ‘Inclusive Growth and Development Report 2017’, released in Davos, Switzerland on Monday, said that most countries were missing important opportunities to raise ...

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Rolls-Royce to pay £671m to settle bribery probes

LONDON: Rolls-Royce has reached a deal to pay £671m to regulators around the world to settle allegations of bribery and corruption, including the largest UK fine ever imposed on a company for criminal conduct. The UK’s flagship engineering company has been under investigation in the US and UK for alleged ...

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British foreign minister welcomes Trump trade deal offer

BRUSSELS: Foreign Secretary Boris Johnson said on Monday he was sure that Britain and the United States could conclude a free trade deal that was in their mutual interests after President-elect Donald Trump said he was keen for one. “It’s very good news that the United States of America wants ...

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Pound falls ahead of Theresa May Brexit speech

LONDON: The pound has hit its lowest level for more than three months on reports Britain was set to quit the EU single market as part of its Brexit plans. Sterling fell below the $1.20 level before recovering slightly on Monday. The pound also dropped to a two-month low against ...

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Luxottica, Essilor agree 46-billion euro merger to create eyewear giant

PARIS: Luxottica and Essilor have agreed a 46-billion euro (40.76 billion pounds) merger deal to create a global powerhouse in the eyewear industry with revenues of more than 15 billion euros, they said in a statement on Monday. The deal, one of Europe’s largest cross-border tie-ups, brings together Luxottica, the ...

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Fed up British middle classes backing Brexit

Brexit

MILTON KEYNES: It’s got money, jobs and it voted Brexit: the town of Milton Keynes near London represents a slice of middle-class voters fed up with a political elite ignoring their concerns. Just as in the United States, it was not just struggling blue-collar workers fed up with the flip side ...

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