Monday, 18 January 2021

Business

UK manufacturing keeps up momentum in May

LONDON: British manufacturing chalked up its second-fastest growth in nearly three years last month, putting the sector on track to shrug off election and Brexit-related uncertainty and improve on a weak first-quarter performance, a survey showed on Thursday. The Markit/CIPS manufacturing purchasing managers’ index (PMI) slipped to 56.7 in May ...

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Insurance costs to rise as new tax increase comes into force

LONDON: Millions of people are facing increased insurance bills as a tax hike takes effect from Thursday, according to warnings from the industry. Those who already pay more for their insurance face the heaviest burden, such as young drivers and those living in flood risk areas, the British Insurance Brokers’ ...

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British Airways left to count cost of weekend IT meltdown

LONDON: Shares in the parent company of British Airways fell yesterday after a huge IT failure left 75,000 passengers stranded over a holiday weekend, dealing a major blow to an airline that once marketed itself as “the world’s favourite”. The British flag carrier had to cancel all flights from London’s ...

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Bank of Scotland unveils new £10 polymer note design

LONDON: Bank of Scotland has unveiled the design of its new £10 polymer note, which is due to enter circulation in the autumn. The front of the note will continue to feature Scottish novelist and poet Sir Walter Scott alongside The Mound in Edinburgh. The Glenfinnan Viaduct will remain on ...

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Uber granted 4 month licence to continue in London

LONDON: Car hire service Uber has been issued a four-month operator licence to continue working in London. The firm, which allows users to book a car on a smartphone app, was granted a five-year private hire licence to operate in the capital in 2012. Transport for London (TfL) said the ...

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iPhone 8: Here’s all you need to know about the next series

LONDON: Over the past new months, countless leaks, images and rumours hinting at the alleged design and specifications of Apple’s upcoming iPhone 8, iPhone 7S and iPhone 7S Plus smartphones have surfaced online. The only detail that hasn’t been missing until now is the launch date. Now, a tipster has ...

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Lloyds back in private ownership as government sells out

LONDON: The high street bank said last week the Government’s stake had been reduced to 0.25% and the UK taxpayer was set to make at least a £500 million profit from the final sale. It is understood the Government’s final tranche of Lloyds shares have now been sold, with an ...

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Chinese e-commerce giant Alibaba set to enter Pakistan

HANGZHOU: Alibaba Group Holding Limited (NYSE: BABA), the world’s largest online and mobile commerce company,has announced the signing of a memorandum of understanding (MoU) with the Trade Development Authority of Pakistan (TDAP) during Prime Minister Nawaz Sharif’s visit to the Alibaba Headquarters in Hangzhou, China. Alibaba Group’s Executive Chairman, Jack ...

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Europe stocks upbeat as data cloud Wall Street

LONDON:  European stock markets seemed happy to quietly carry the week’s gains into the weekend, while Wall Street’s worries about retail weakness were compounded by soft core inflation data. Department store chain J.C. Penney reported disappointing sales Friday, adding to concerns over retail sector business sparked by giant Macy’s figures ...

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