Friday, 24 November 2017

Business

Co-operative Bank losses narrow to £135m in six months

Co-operative Bank

LONDON: The Co-operative Bank has reported a narrowing of half-year losses in its first set of results since it secured a financial rescue package. Losses for the first six months of the year narrowed to £135.2m from £177m in the same period a year earlier. In June, the Co-operative Bank ...

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Facebook launches Watch tab of original video shows

FB

LONDON: Facebook has a new home for original video content produced exclusively for it by partners, who will earn 55 percent of ad break revenue while Facebook keeps 45 percent. The “Watch” tab and several dozen original shows will start rolling out to a small group of U.S. users tomorrow ...

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Russia to establish $200m oil refinery in Pakistan

Oil refinery plant of petroleum or petrochemical industry production at sunset

MOSCOW: Russian investors have agreed to setup a medium size refinery in Khyber Pakhtunkhwa. A Memorandum of Understanding (MOU) in this regard was signed here between the delegation of Russian investors from Inter Rao Engineering & HIMMASH APPARAT – a leading EPCC contractor through local partners ORPHEUS – and Khyber ...

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Volkswagen to introduce diesel trade-in scheme in UK

Volkswagen

BERLIN: The Volkswagen Group is to roll out a diesel trade-in scheme in the UK, the full details of which will be revealed “shortly”, according to a group spokesperson. Volkswagen has just confirmed plans to introduce a trade-in scheme in Germany, revealing initiatives for the Volkswagen and Audi brands. More ...

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Electric car body is made from flax and sugar beet

Electric car

LONDON: The bio-based composite is claimed to have similar strength/weight to glass fibre, although it is based on flax fibre-reinforced sheets with a honeycomb core (see photo) made from (sugar beet-based in this case) PLA bio-plastic – the same plastic using in this phone from NEC over a decade ago (which ...

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Ofcom fines KCOM over emergency call failure

Kcom

LONDON: Ofcom has fined KCOM, the local operator in Hull, £900,000 after a network failure left customers unable to contact the emergency services for four hours. All telecoms companies are required by the regulator to provide uninterrupted access to the emergency services, and to ensure that their systems are resilient ...

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Morrisons is now selling foot long sausage rolls for £1

Morrisons

MORRISONS has begun selling sausage rolls that are twice the size of Greggs’ for just £1. The national supermarket chain has today launched the new savoury treat, which is believed to be the biggest in the whole of the UK. It weighs half a kilo and is ‘double the length ...

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Google fires employee behind anti-diversity memo

GOOGLE

NEW YORK: Internet giant Google has fired the male engineer at the center of an uproar in Silicon Valley over the past week after he authored an internal memo asserting there are biological causes behind gender inequality in the tech industry. James Damore, the engineer who wrote the memo, confirmed ...

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Tesco to scrap single-use carrier bags this month

tesco bags

LONDON: Tesco is scrapping single-use carrier bags this month. The 5p bags will no longer be available from 28 August onwards, and customers will instead need to buy a 10p “Bag for Life”, which is made from 94 per cent recycled plastic. The sales from the new bag will be ...

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Pre-pay customers to see £19 reduction in energy bills

GAS

LONDON: The change, which comes into force on October 1, will see the average annual dual fuel bill for pre-payment customers cut from £1,067 to £1,048, Ofgem said. The watchdog introduced a temporary safeguard tariff in April and will update it every six months based on the estimated cost of ...

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