Sunday, 23 April 2017

Business

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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McDonald’s moves non-US tax HQ to Britain from Luxembourg

NEW YORK: McDonald’s will move fiscal headquarters for the majority of its non-US operations to Britain, it said Thursday, following an EU crackdown on tax deals struck by multinationals including the fast-food giant. McDonald’s is establishing a new Britain-based holding company to cover royalties from most licensing agreements outside the ...

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UK power capacity auction for 2020-21 clears at 22.50 pounds per kW/year

LONDON: Some power plants in Britain could be at risk of closure after missing out on agreements to provide capacity for 2020/21 in an auction that cleared at a lower-than-forecast 22.50 pounds ($28.35) per kilowatt (kW)/year. Britain began capacity auctions in 2014, looking to head off future power shortages as coal plants ...

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Sumitomo to buy banana company Fyffes

LONDON: Irish fruit distributor Fyffes has agreed to be bought by Japan’s Sumitomo in a €751m ($798m; £634m) deal. Fyffes produces, ships, ripens and distributes bananas, melons, pineapples and mushrooms. The firm, which has its headquarters in Dublin, employs more than 17,000 people worldwide and has an annual turnover of ...

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Stocks, euro push higher as ECB stimulus plan looms

LONDON: World shares climbed to a near three-month high on Thursday as encouraging China data and a record high Wall Street kept traders upbeat ahead of an expected extension of the European Central Bank’s already generous stimulus programme. Asia had shares hustled to one-month highs after Wall Street strode to ...

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Apple admits it is working on self-driving cars

LONDON Apple’s plan to build driverless cars has been the subject of rumours for the last two years – now the company has finally admitted it. A letter to the highway regulator in the United States reveals the iPhone maker has got a secret project underway involving transportation. “The company ...

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