Thursday, 22 February 2018

Business

Hotel booking sites to be investigated

Woman searching a hotel for vacation. Booking template designed on the screen.

LONDON: The Competition and Markets Authority (CMA) has launched the probe because it is concerned about the “accuracy and presentation of information on sites” which could stop holidaymakers from finding the best deal and potentially break consumer law. As part of the investigation, CMA has written to hotel booking sites ...

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UK GDP: Growth figures raise chances of rate rise

UK-economy

LONDON: The UK’s economy had higher than expected growth in the three months to September – increasing the chances of a rise in interest rates in November. Gross domestic product (GDP) for the quarter rose by 0.4%, compared with 0.3% in each of 2017’s first two quarters, according to latest ...

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Barclays Shares Slump

BARCLAYS

LONDON:  Barclays PLC Thursday announced an increase in third-quarter net profit, helped by a fall in conduct and operating costs. The British bank said revenue in the quarter was down 5% to GBP5.17 billion ($6.9 billion) compared to a year ago, as bond trading revenues slumped. Net-profit rose to GBP583 ...

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BT to slash landline costs by 37% for up to one million customers

BT 1

LONDON: Telecoms giant BT has announced it will cut the cost of its landline-only contracts by 37%, following a review from the industry regulator Ofcom. The FTSE 100-listed company said on Thursday (26 October) that, from April next year, up to one million landline-only customers will see the price of ...

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Poker legend loses battle over £7.7m winnings from London casino

Phil Ivey

LONDON: US poker legend Phil Ivey has lost his UK Supreme Court appeal against Genting Casino, relating to a £7.7 million ‘edge sorting – Punto Barco’ dispute at London’s Crockfords Mayfair Casino. Ivey representatives wished to overturn a 2014 UK Civil Court ruling against the poker player, which deemed that ...

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Saudi Arabia to Construct $500 Billion Mega City

Saudi ArabiaMega City

RIYADH: Saudi Arabia’s powerful crown prince on Tuesday announced plans to build a futuristic city run entirely on alternative sources of energy and said the ultraconservative kingdom must return to “moderate Islam.” The $500 billion “Neom” project , envisioned as a hub for technological innovation, will be funded by the ...

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Equifax faces formal investigation by UK financial watchdog

Equifax

LONDON: Equifax, the US credit reporting company at the heart of a cyber security scandal, faces a formal investigation by the UK financial watchdog after it admitted that nearly 700,000 UK customers may have had their personal details stolen. The Financial Conduct Authority confirmed in a brief statement on Tuesday ...

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EU parliament votes to ban controversial weedkiller by 2022

weedkiller

STRASBOURG: The European Parliament called for the controversial weedkiller glyphosate to be banned by 2022 amid fears it causes cancer, a day before EU states vote on whether to renew its licence. MEPs approved a resolution which is not binding but will add fresh pressure on the European Commission, the ...

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Pizza Hut pulls ad after offending stuttering Saudis

pizzahut

RIYADH: Fast-food giant Pizza Hut has been forced to remove an advert that it posted on Twitter because it was considered offensive to people with speech impediments. The pizza chain had posted the ad on International Stuttering Awareness Day. The text of the advert repeated the first letter of words ...

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Wimpy is planning a comeback across the UK

Wimpy

LONDON: Fast food restaurant Wimpy – a big hitter in the high streets of the 1970s – could be making a comeback. The chain, which once had more than 500 outlets in the UK, now has just 80. One of those is in the intu Broadmarsh Centre in Nottingham – ...

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