Friday, 23 June 2017

Business

Brexit will send UK down global economic ranking: Study

LONDON: Britain’s exit from the European Union will send the country from fifth place to eighth in the global economic ranking in the next 15 years, a new economic analysis has found. The country’s economic prospects will be damaged by Brexit’s negative impact on the value of the pound, analysts at ...

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Nokia sues Apple for infringing patents, industry back on war footing

PARIS: Nokia Corp said on Wednesday it had filed a number of lawsuits against Apple Inc for violating 32 technology patents, striking back at the iPhone maker’s legal action targeting the one-time cellphone industry leader a day earlier. Nokia’s lawsuits, filed in courts in Dusseldorf, Mannheim and Munich, Germany, and ...

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Spending on essentials sees biggest rise in 20 months

LONDON: Consumer gloom around inflation is deepening as essential spending saw its biggest rise in 20 months, according to a report. A rise in spending on food and drink has driven essential spending to its strongest level of growth since February 2014, the latest Lloyds Bank Spending Power Report said. ...

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Most British companies are optimistic about the future post-Brexit

LONDON: Nearly two-thirds of British businesses are “optimistic” about their future in the wake of the Brexit vote, a major survey has disclosed. A poll of 34,000 companies by the Institute of Directors found that 60 per cent of businesses are “optimistic” or “very optimistic” about the year ahead. The businesses, predominantly ...

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How late are the shops open for? Closing hours for Christmas Eve shoppers

LONDON: Bread sauce, Uncle Martin, batteries for the presents, crackers. There’s always something you only remember at the last minute. Worse, even if you’ve done your planning perfectly, things break at the worst possible time – and having children and pets running about in a crowded house hardly helps matters. ...

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American Apparel cuts 150 jobs as all but one of its UK stores closes

LONDON: Nearly 150 American Apparel staff have been made redundant before Christmas after the fashion chain closed 12 of its 13 UK stores. Only the Camden High Street store has remained open, leaving 147 employees working at the other branches out of work. Jim Tucker, joint administrator and restructuring partner at ...

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Travellers face Christmas rail closures due to planned work

LONDON: Rail passengers will face disruption over the Christmas period, with 200 sets of engineering works affecting up to 10% of the railways. Network Rail, which maintains the UK’s railways, said carrying out works over the festive season would have the least effect on the travelling public. London, Manchester and ...

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UK third quarter GDP growth revised up to 0.6%

LONDON: The UK economy grew by 0.6% in the third quarter, according to official figures, faster than previous estimates. Growth for the July-to-September period had originally been estimated at 0.5%. New data from the Office for National Statistics (ONS) suggested that the business and financial sector was more active than ...

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