Sunday, 20 October 2019

Business

UK govt sells green bank in £2.3 billion deal

LONDON: The UK Green Investment Bank (GIB), created by the British government to fund environmental projects, is to be sold to Australian financial services firm Macquarie Group in a £2.3 billion deal, the government said. Under the deal, worth $2.6 billion (2.7 billion euros), Macquarie has vowed to invest at ...

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Vijay Mallya laundered money to British cos, India tells UK

NEW DELHI: Indian investigators feel there is a strong chance of bringing Vijay Mallya back to India as documents shared by the Enforcement Directorate (ED) with the UK government claim the controversial tycoon laundered money from banks in India to “British companies“ and “bank accounts“ in the UK.The ED’s findings ...

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UK-based Liberty Group to buy ArcelorMittal’s US unit

LONDON: UK-based Indian-origin entrepreneur Sanjeev Gupta’s Liberty House Group announced an in-principle agreement to acquire ArcelorMittal’s Georgetown Steelworks in South Carolina. The proposed deal between Liberty House and NRI steel magnate Lakshmi N Mittal’s US steelworks includes a 540,000- tonne a year electric arc furnace and 680,000-tonne a year rod ...

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Google tackles a major flaw with home assistants

LONDON: Google is teaching its Google Home voice-activated speaker some new tricks. The tech giant announced today that it’s addressing one of the major flaws with assistants like Home and Amazon’s Alexa-powered Echo by adding multi-user support. Currently, Google Home and the Echo can’t distinguish between individual voices. In other ...

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Uber could face higher licence fees in London under new proposals

LONDON: Taxi app Uber could face an increase in operator licence fees in London under proposed changes by the city’s transport authority, the latest in a series of moves by regulators to rein in a firm that has disrupted the traditional taxi industry. Transport for London (TfL) launched a consultation ...

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PIA to start daily Karachi-London flights

LONDON: Pakistan International Airline (PIA) will provide passengers with an option of daily flights between Karachi and London from April 25, 2017. Two of these flights, on Wednesdays and Sundays, would be operated directly, while on other days convenient connections within two to three hours would be provided to Lahore ...

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IMF says Brexit poses risk to global stability

LONDON: The International Monetary Fund (IMF) has warned that Brexit poses a risk to global financial stability at a time when it is already challenged by heavily-indebted US corporations, China’s credit bubble and weak European banks. Warning that banks were likely to be the sector of the City hardest hit ...

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London stocks plunge as May calls snap UK election

LONDON stocks plunged, dragging Europe lower after Britain called a snap general election, fuelling political uncertainty ahead of Brexit but also a tight presidential race in France. Indices were hit also by falling metals prices, traders said, as investors returned to their desks after a four-day Easter break. At the ...

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Flying Under the Radar No More, FMC Goes Big

Describing FMC as “under the radar,” admittedly, is probably a stretch. But in a snap of the fingers, FMC upped its game and aligned itself with the biggest names in ag. It’s not only buying up DuPont’s crown jewel insecticides and cereal herbicides, but the game-changer: its robust pipeline and ...

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A new ‘diet’ prosecco is coming to London

= It’s an age-old quandary: you want to down a bottle’s worth of Berlusconi’s tears (that’s prosecco, FYI) to yourself, but you’re damned if you’re sloshing back that many calories in half an hour with summer just around the corner. But not anymore. A ‘light prosecco’ has landed in London, promising ...

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