Monday, 25 May 2020

Business

Bangladesh flies in onion supplies as price hits record high

DHAKA: Bangladesh is urgently importing onions by air as the price of the essential ingredient in local dishes soared to record highs, an official said on Sunday, with even the prime minister chopping the bulb from her menu. The price of onions — a sensitive subject in South Asia where ...

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HP rejects $33.5 bln takeover offer from Xerox

HP Inc. says its board has rejected a roughly $33.5 billion takeover offer from Xerox. The Palo Alto, California-based company said on Sunday that the cash and stock deal undervalues its business and its board cited concerns about “outsized” debt levels should the companies combine. HP, which makes computers and ...

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Boeing, Airbus kept in suspense over big Dubai jet deals

Airbus and Boeing fought to save billions of dollars of jet deals on Sunday as host airline Emirates kept the Dubai Airshow in suspense over dozens of tentative orders designed to fine-tune the world’s largest international airline network. The world’s top jetmakers are trying to win final approval for more ...

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Google antitrust probe to expand into Android

LONDON: The several dozen attorneys general investigating advertising practices at Alphabet Inc’s (GOOGL.O) Google are planning to expand their antitrust probe into the unit’s flagship Android business, CNBC reported, citing people familiar with the matter. The investigation, led by the Texas attorney general’s office, is known to have focused on ...

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EU bank will stop funding fossil fuel projects

BRUSSELS: The European Investment Bank, the EU’s lending arm, said Thursday it will stop funding fossil fuel projects from 2022 as part of a new strategy aimed at fighting climate change. “We will stop financing fossil fuels and we will launch the most ambitious climate investment strategy of any public ...

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Motorola flips for its futuristic foldable phone

NEW YORK: Motorola is bracing for the future by returning to the past. The company is adapting its historical flip-phone design for a smartphone with a foldable screen. Samsung, Huawei and others have phones that fold like a book and offer a double-sized display when unfolded. Motorola’s new Razr phone, ...

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Facebook removes billions of fake accounts, child abuse posts

SAN FRANCISCO: Facebook said it has taken down about 5.4 billion fake accounts this year,along with millions of posts depicting child abuse and suicide, in a sign of the persistent battle on social media against manipulation and misinformation. Between April and September, Facebook said it took down 3.2 billion fake accounts. ...

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South African Airways cancels flights ahead of strike

JOHANNESBURG: South African Airways (SAA) said it was cancelling all its flights as thousands of workers vowed to press ahead with an indefinite strike the following day, after the troubled national carrier announced a major retrenchment plan. Around 3,000 workers, including cabin crew, check-in, ticket sales, technical and ground staff, ...

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Woody Allen and Amazon reach settlement in $68 million lawsuit

MANHATTAN: Woody Allen has ended his $68 million lawsuits against Amazon.com Inc for backing out of a four-picture production and distribution agreement and refusing to distribute a film he had finished. Allen and Amazon notified the federal court in Manhattan late on Friday night that the lawsuit was being voluntarily ...

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Security experts find flaws in ATM machines

A pair of security researchers has discovered two vulnerabilities in cash machines widely used across the US that could allow a determined criminal to steal cash and customer data. Brenda So and Trey Keown, of New York-based Red Balloon Security, found the flaws in machines manufactured by Nautilus Hyosung America, ...

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