Sunday, 15 September 2019

Business

Scania fined 880m euros over price collusion

PARIS: Scania has been fined 880m euros (£771m) by the European Commission for colluding with five other truckmakers over prices and emissions costs. The other five companies were given a record 2.9bn euro fine in July 2016 but Scania held out and would not co-operate with the investigation. The EU ...

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Uber defends business model at UK tribunal on worker rights

LONDON: Uber went to a British employment appeal tribunal on Wednesday to argue its drivers are self-employed, not workers entitled to a range of extra benefits, less than a week after the firm was told it would lose its London license. The U.S. ride-hailing service has faced regulatory and legal ...

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Philippines govt bans compulsory high heels at work for women

MANILA: The Philippines has banned companies from compelling women to wear high heels to work under a government order hailed by a labour group as a victory against sexism and pain. The labour department order took effect on Sunday as the government took up the cudgels for long-suffering shopping mall ...

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Technology billionaires lose $16 billion as stocks sink

LONDON: Technology tycoons lost $15.5 billion from their fortunes on Monday as a sell-off of the sector’s most valuable companies intensified. Facebook Inc.’s Mark Zuckerberg saw the biggest drop in net worth of $3.2 billion, followed by a $1.3 billion decline for Alibaba Group Holding Ltd.’s Jack Ma and a ...

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Solid half year results for Card Factory

LONDON: High street gift card retailer Card Factory has achieved a ‘solid’ set of results despite industry-wide challenges. Like-for-like sales growth for Card Factory in the six months to 31 July 2017, has increased by 3.1 per cent with roughly 30 per cent growth from the company’s website. Revenues at ...

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Euro slips after German election result

PARIS: The euro slipped in early trading today after Germany’s election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition. The euro was trading down 0.4% at $1.1906 and looked set to test support around $1.1860 as liquidity picked up through ...

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UK to support Pak trade growth

LONDON/LAHORE: UK Minister of State for Trade Policy 2017 marks 70 years since this country’s birth, and 70 years of bilateral relations between Pakistan and the UK. This is also a momentous time for the UK. As we prepare for our departure from the European Union we will look to ...

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Uber seeks talks with London mayor to renew licence

LONDON: Uber is prepared to make concessions to ensure its licence to operate in London is renewed, its general manager for the capital has said. Tom Elvidge told the Sunday Times: “While we haven’t been asked to make any changes, we’d like to know what we can do.” He added: ...

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UK state minister Greg Hands for trade policy visits GSK Pakistan

LONDON/KARACHI: Pakistan is a vibrant economy, open for business. I want to see more of Britain’s leading companies doing business, creating jobs and supporting economic growth in both the UK and Pakistan,” said UK’s Minister of State for Trade Policy Greg Hands. As a part of his three-day visit to ...

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Hundreds of thousands sign ‘save Uber’ petition

LONDON: Hundreds of thousands of people have signed a ‘save Uber’ petition after Transport for London stripped the firm of its licence in the capital. Save Your Uber in London was set up on the Change.org website after TfL announced the firm would not have its licence renewed when it ...

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