Wednesday, 18 September 2019

Business

Facebook to unveil new cryptocurrency

LONDON: Facebook is set Tuesday to unveil a bid to bring cryptocurrency payments into the mainstream, reportedly with the endorsement of governments and financial giants. The world’s biggest social network is expected to outline details of a virtual currency launching next year that it hopes will avoid the rollercoaster volatility ...

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Citigroup combines rates and currencies businesses

NEW YORK: Citigroup Inc said it is combining its Foreign Exchange & Local Markets and G10 currencies businesses into one unit. “We believe this more streamlined operating model will drive better client service, risk management and profitability,” the co-heads of the markets division, Carey Lathrop and Andy Morton, said in ...

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Boeing says has no plans to change name of 737 max

PARIS: Boeing Co said on Monday it had no plans to change the name of the 737 MAX after news reports that it would be prepared to do so to improve its future marketing. “Our immediate focus is the safe return of the MAX to service and re-earning the trust ...

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Huawei prepares for 50% fall in smartphone shipments

LONDON: Huawei is preparing for a 40 per cent to 60 per cent decline in international smartphone shipments. The Chinese technology company is looking at options that include pulling the latest model of its marquee overseas smartphone, the Honor 20, according to the article, which cited people familiar with the ...

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G20 agrees marine plastic pollution deal

TOKYO: The Group of 20 major economies said they agreed a deal to reduce plastic waste that is choking the seas at a meeting in Japan. Under the agreement, G20 member countries committed to reducing plastic waste but gave little detail on how that would be done. They added that ...

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keep eye on the ball, Airbus urged UTC

PARIS: Airbus said it had urged United Technologies to “keep its eye on the ball” in its role as a commercial aerospace supplier as it moves towards a planned merger with US defence contractor Raytheon . Chief Executive Guillaume Faury said the message was understood by the world’s largest aerospace ...

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US auto workers at VW plant reject bid to unionize

DETROIT: The United Auto Workers union has suffered a fresh defeat at a Volkswagen plant in Tennessee, with workers narrowly voting down a move to organize the factory for a second time. The UAW has never managed to fully organize a US plant owned by a foreign manufacturer and a ...

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Alibaba-linked firms mixed after Hong Kong IPO report

HONG KONG: Shares in firms linked to Chinese online retail titan Alibaba were mixed Friday a day after rallying on a report it had filed for a Hong Kong listing that could be the city’s biggest initial public offering for almost a decade. A share sale in the city by ...

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Oil prices jump nearly 4% over attack on oil tankers

LONDON: The benchmark Brent Crude logged a steep jump of nearly 4 per cent over reports of attack on oil tankers in the Gulf of Oman. At 5.28 p.m., Brent was trading at $62.30 per barrel, or 3.89 per cent higher. The benchmark crude prices have remained flat for most ...

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Facebook to cut off Huawei to comply with US sanctions

WASHINGTON: Facebook said it would cut off Huawei from its popular social networking apps to comply with US sanctions, further isolating the Chinese tech giant considered a national security threat by Washington. The social media giant said it took the step after President Donald Trump’s order barring Huawei from US ...

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