Sunday, 24 March 2019

Business

MP asks spending watchdog to investigate Nissan Brexit deal

Whitehall’s spending watchdog could investigate the deal to keep Nissan making cars in north-east England, following a demand from the chair of an influential parliamentary committee. Andrew Tyrie, chair of the Treasury select committee, has written to the National Audit Office (NAO) asking for an inquiry into any assurances offered ...

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Opec agrees first output cut since 2008

VIENNA: The Opec oil cartel defied expectations on Wednesday and nailed down its first joint output cut since 2008 after tough talks in Vienna, sending oil prices soaring. At 1622 GMT Brent North Sea crude for January delivery was up $3.77 at $50.15, the first time it has risen above ...

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Sky seeks to shake up UK mobile market with flexible data plans

Sky (SKYB.L) said it would enter the UK mobile market with a SIM-only deal that allows data allowances to roll over each month, and offers free calls to the 11 million British households that take its TV services. It was “time to shake up” the mobile market, particularly in data, ...

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Samsung Electronics considers split as investor pressure builds

LONDON: Tech giant Samsung Electronics Co Ltd (005930.KS), under pressure from shareholders to improve investor returns, said on Tuesday it will consider creating a holding company in what would be the biggest shake-up in its 47-year history. The move and a plan to raise dividends come after U.S. hedge fund ...

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Ban on rupee bank notes worries British Indians

LONDON: British Indians are calling for an extension to a deadline which could see some of their cash become worthless by the end of December, as part of Prime Minister Narendra Modi’s shock decision earlier this month to abolish 500 ($7) and 1,000 ($14) rupee banknotes. The looming Dec. 30 ...

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Scottish councils facing £553 million financial black hole

SCOTLAND’S councils are facing a financial black hole of more than half a billion pounds in only two years’ time unless they make major cuts, according to an official analysis. The Accounts Commission forecasts the gap between the amount local government spends and its income could grow from £87 million ...

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Tata to sell Yorkshire steel plants in £100m deal safeguarding 1,700 jobs

YORKSHIRE: Tata has signed a letter of intent to start exclusive talks to sell its Yorkshire-based speciality steel business to Sanjeev Gupta’s Liberty group for £100m. The agreement will give certainty to workers at the plants in Rotherham, Stocksbridge and Brinsworth who produce steels used in the automotive, aerospace and oil and gas sectors. ...

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