Saturday, 11 July 2020

Business

Credit Suisse CEO says clients unshaken by Khan affair

ZURICH: Credit Suisse boss Tidjane Thiam said a “media campaign” surrounding the Swiss bank’s tailing of former International wealth management executive Iqbal Khan was not affecting its client relationships. Speaking publicly for the first time since the incident prompted an internal inquiry at the bank and a criminal investigation, Thiam ...

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Boeing says up to 50 planes grounded globally over cracks

LONDON: Boeing has grounded up to 50 planes globally over cracks, Agence France Presse news agency reported. Boeing was not immediately available for comment. Qantas Airways Ltd. and Southwest Airlines Co. have stepped up checks for structural cracks on Boeing 737 NGs after discovering problems with planes that did not ...

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Oil prices fell

NEW YORK: Oil prices fell on Wednesday as a possible delay in resolving the US-China trade war overshadowed a drop in US crude inventories. Brent crude was down 18 cents, or 0.3 per cent, at $61.41 a barrel by 0405 GMT after gaining 2 cents on Tuesday. US West Texas ...

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T-Mobile beats quarterly phone subscriber estimates

LONDON: T-Mobile beat analysts’ third-quarter estimates for net new phone subscribers who pay a monthly bill, boosted by competitive wireless plans aimed at fending off its bigger rivals. The third-largest US wireless carrier by subscribers said it added 754,000 phone subscribers on a net basis in the three months ended ...

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Microsoft says Russia-linked hackers target sports organizations

WASHINGTON: Microsoft Corp said it has tracked “significant” cyberattacks coming from a group it calls “Strontium” or “Fancy Bear”, targeting anti-doping authorities and global sporting organizations. The group, also called APT28, has been linked to the Russian government, Microsoft said in a blog post. At least 16 national and international ...

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Hyundai to test self-driving vehicles service

SAN FRANCISCO: Hyundai announced that it will begin testing a self-driving ride service in Southern California next month. The South Korean automaker said that it collaborated with technology group Pony.ai and rideshare firm Via for an on-demand service called BotRide that will offer free rides in autonomous vehicles in the ...

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Big Four market share in UK audit increases

LONDON: Every company in the FTSE 100 was audited by one of Deloitte, PwC, KPMG and EY in the year to 31 December 2018, analysis by the Financial Reporting Council (FRC) has found This year has seen the Competition and Markets Authority (CMA) recommend deeper scrutiny of the audit sector ...

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Pound steady after EU Brexit extension

LONDON: The pound steadied versus the dollar and London’s stock market flattened on Monday after the European Union granted an extension to Brexit until the end of January. Around 1200 GMT, sterling was almost unchanged at $1.2826 compared with late in New York on Friday. London’s benchmark FTSE 100 stocks ...

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Indian tea exports to Pakistan plunged 50% since clashes

NEW DELHI: Indian tea exports to Pakistan have plunged 50 per cent since the two countries clashed in February, according to a report published by Indian business news website Business Standard. Amid growing tensions over the illegal annexation of Indian-occupied Kashmir by Indian Prime Minister Narendra Modi, the tea trade ...

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Netflix is exploring ways to stop password sharing

LONDON: Freeloaders, beware! Netflix officials have announced that they are “aware” and “monitoring” users who avoid paying monthly subscriptions through password sharing. Last week, during the company’s third-quarter earnings interview, Netflix Product Chief Greg Peters said that the company is aware of the users who are involved in sharing passwords ...

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