Monday, 16 September 2019

Business

French parliament approves Macron’s labour reforms

PARIS: France’s parliament on Wednesday adopted a bill allowing the government to fast-track changes to the labour code, the first major reform of Emmanuel Macron’s presidency which aims to slash unemployment. After weeks of at times heated debate between lawmakers, the Senate approved a bill allowing the government to loosen ...

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Apple shares up as iPhone8 appears on track

LONDON: Apple appears to have soothed investor concerns over the release of its 10th anniversary iPhone range while reporting a leap in smartphone sales. The world’s most-valuable listed company’s third quarter results showed it sold just over 41 million of the smartphones worldwide – bucking the usual trend of a ...

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AA chief executive sacked for gross misconduct

LONDON: The AA has sacked its executive chairman Bob Mackenzie for “gross misconduct”. The news, which has resulted with him stepping down from the AA’s board and as a director with immediate effect, has been greeted with shock and surprise. Shares in the AA plunged by 12.8% by the end ...

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BP and Rolls-Royce top FTSE after swinging into profit

LONDON: BP and Rolls-Royce have driven the FTSE 100 higher after the oil giant and aircraft engine maker delivered better-than-expected results. Shares in Rolls-Royce jumped 9.6% to 973p after it reported profits of £1.9 billion in the six months to the end of June, reversing the £2.2 billion loss made ...

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Bank of England staff to hold first strike in 50 years

LONDON: Trade union members at the Bank of England, Britain’s Central Bank, will go ahead with the first strike action by staff for over 50 years on Tuesday, the Unite union said on Monday. Last-minute talks facilitated by a government-run arbitrator failed to resolve the pay dispute with the bank, ...

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Shell shuts down Europe’s largest refinery after fire

THE HAGUE: The British-Dutch oil giant Shell said it was shutting down Europe’s biggest refinery after a pre-dawn fire broke out at a power station on the vast site on Sunday. Flames billowed into the sky over the port of Rotterdam after the blaze erupted at a high-voltage power station ...

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HSBC profits rise as it prepares for UK ringfence

LONDON: A third share buyback in a year by HSBC underlined progress in the turnaround plan for Europe’s biggest bank, with profit also growing by 5 percent in the first half of 2017. The news sent HSBC shares up three percent to a four-year high of 764 pence each in ...

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In workplace, women are more generous than men – poll

LONDON: British women give more to office charity appeals than men, according to a new poll released on Monday. About 66 percent of women gave money to a charity collection in the workplace compared to 49 percent of men, according to the Charities Aid Foundation (CAF) survey which polled 1,079 ...

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Samsung facing growing threats despite record profits

PARIS: Sprawling South Korean conglomerate Samsung Electronics has recovered from a humiliating recall fiasco and the arrest of its de facto leader with remarkable speed, analysts said, after the tech giant stunned investors with record-breaking profits. But the world’s top smartphone maker, one of the huge family-run chaebols which dominate ...

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