Wednesday, 17 July 2019

Business

Labour calls for closer scrutiny of tech firms and their algorithms

LONDON: Labour’s industrial spokesperson has called for the algorithms used by technology firms to be made transparent and subject to regulation, as the party prepares the new year launch of its industrial strategy consultation. Shadow minister Chi Onwurah wants to see greater scrutiny of the mathematical formulas that now control ...

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Sutherland to Merge With U.K. Firm Eversheds

LONDON: Atlanta-based Sutherland Asbill & Brennan and U.K. law firm Eversheds have agreed to merge. The merger had “exceptionally strong approval” from both partnerships, according to a press release. The merged firm will have 2,300 lawyers and 61 offices in 29 countries. The new firm will be called Eversheds Sutherland ...

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MERCEDES-BENZ LAUNCHES PRIVATE CAR SHARING PLATFORM CROOVE

LONDON: Mercedes-Benz is launching its Croove car sharing platform in early December in Munich. The car sharing will be done through mobile app Croove. The platform brings together private lessors and lessees of Mercedes-Benz and other vehicles. Buying a car is not an easy job and after that it becomes ...

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UK competition watchdog fines modelling agencies for price fixing

LONDON: Five of London’s leading modelling agencies and a major trade association have been fined more than £1.5m for price collusion by the UK competition watchdog, the third time the industry has faced a crackdown in Europe in the past three months. The Competitions and Markets Authority said on Friday ...

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Honda concept car will have emotions of its own

LONDON: Chances are you either love or hate your car – and soon the feeling could be mutual. Japanese automaker Honda will showcase a concept car at the Consumer Electronics Show next month that is capable of understanding the driver’s emotions and developing emotions of its own, the company announced ...

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Bank of England leaves UK interest rates on hold at 0.25%

The Bank of England has left interest rates at their record low of 0.25% but repeated a warning that higher inflation and slower wage growth risk squeezing household budgets and spending next year. The Bank’s nine-strong monetary policy committee voted unanimously to keep rates on hold and maintain the current ...

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Hacked Yahoo Data Is for Sale on Dark Web

LONDON: Some time around August 2013, hackers penetrated the email system of Yahoo, one of the world’s largest and oldest providers of free email services. The attackers quietly scooped up the records of more than 1 billion users, including names, birth dates, phone numbers and passwords that were encrypted with ...

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First Amazon Prime Air drone delivery lands in UK

Amazon has revealed that it’s made its first delivery by autonomous aerial drone, to a chap named “Richard B” who lives somewhere in Cambridgeshire, England. Richard ordered a bag of popcorn and an Amazon Fire TV. Amazon’s released a saccharine video to mark the occasion. If you’d rather not endure ...

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Brexit trade deal could take 10 years, says UK’s ambassador

LONDON: A post-Brexit UK-EU trade deal might take 10 years to finalise and still fail, Britain’s ambassador to the EU has privately told the government. The BBC understands Sir Ivan Rogers warned ministers that the European consensus was that a deal might not be done until the early to mid-2020s. ...

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Yahoo sets hack record at 1 billion accounts

Yahoo says hackers stole data from more than one billion user accounts in August 2013. The company says it’s a different breach from the one it disclosed in September. Pictured here Marissa Mayer, who took the job as CEO at Yahoo in 2012 The company said Wednesday that it was ...

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