Saturday, 7 December 2019

Business

Call to end Scotch supertax as whisky sales tumble

SCOTCH whisky sales have fallen by one million bottles in the UK in the wake of the spirits tax. Official HM Revenue & Customs figures show 36.7 million bottles were sold in the world’s fourth biggest market for Scotch in the first six months of 2017 – down from 37.7 ...

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Facebook to sell portable headset for virtual reality

SAN JOSE: Facebook Inc is launching a new virtual reality headset that does not require a separate computer to operate, allowing more mobile uses than the company’s existing Oculus Rift product, Chief Executive Mark Zuckerberg said. Zuckerberg, speaking at a conference for virtual reality developers, said the “Oculus Go” device ...

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43 kilos of gold is flushed through Swiss sewers each year

SWISS scientists have found that 43kg of gold worth about $1.8 million is passing through Switzerland’s wastewater each year, as first spotted by Bloomberg. The gold is lost through sludge and effluent from the country’s waste treatment plants according to a report by scientists at the Swiss Federal Institute of ...

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Ofgem says will work with government to lower energy prices

LONDON: May stunned the industry last week when she announced a plan to impose price caps on standard variable tariffs (SVT), the basic rate that energy suppliers charge if a customer does not opt for a specific fixed-term deal. Around 70 percent of households are on SVTs. Regulator Ofgem had ...

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Trade mission: London Mayor Sadiq Khan to visit Pakistan, India

LONDON: London Mayor Sadiq Khan will visit India and Pakistan later this year to promote the UK capital and build trade and cultural links, his office said in a statement. The London mayor will tell the governments and business leaders that London is still open to people from across the ...

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UK attracting record number of tourists

Tourism is booming in the UK with nearly 40 million overseas people expected to have visited the country during 2017 – a record figure. Tourist promotion agency VisitBritain forecasts overseas trips to the UK will increase 6% to 39.7 million with spending up 14% to £25.7bn this year. Britons are ...

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Tesco to accept old pound coins after Royal Mint deadline

LONDON: Tesco has confirmed it will continue accepting old round pound coins after they cease to become legal tender. The firm will allow customers to pay with the old-style coins for a week after the October 15 deadline imposed by the Royal Mint. It follows a similar announcement by discount ...

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Toyota plans to build new Auris in UK

LONDON: Toyota intends to build the next version of its Auris car at its UK car plant on the assumption that the government secures a transitional Brexit deal, two sources familiar with the matter told Reuters. The final decision is due to be made by the end of the year, ...

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Richard Thaler Wins Nobel for Work in Behavioral Economics

STOCKHOLM: The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people’s choices on economic matters – whether on savings or game shows like “Deal or No Deal” – are not always rational. The 9-million-kronor ($1.1-million) prize was awarded to ...

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Ryanair’s operations chief to step down after cancellation meltdown

LONDON: The chief operations officer of Ryanair has announced plans to leave his post at the end of October amid a cancellation spree affecting thousands of the company’s flights. Company officials said Saturday that Michael Hickey will still have an “advisory role” after he steps down following decades with the ...

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