Thursday, 19 April 2018

Business

Elon Musk unveils Tesla electric truck

Tesla electric truck

LONDON: Tesla has unveiled its first electric articulated lorry, designed to challenge diesel trucks as king of the road. The long-anticipated Tesla Semi has a range of 500 miles on a single charge. Tesla says the vehicle – known in the US as a semi-trailer truck – will go into ...

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Vodafone upgrades its growth forecast

Vodafone

LONDON: Vodafone upgraded its financial forecasts after it reported better than expected performance in the first half of the year, assisted by a £100m compensation cheque from BT’s network business Openreach. The telecoms giant said it now expects organic earnings before interest, tax, depreciation and amortisation to increase by around 10pc ...

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Former City workers launch debit card for cryptocurrencies

Bitcoin

LONDON: The London Block Exchange (LBX) has launched a debit card which will allow UK consumers to spend cryptocurrencies such as Bitcoin in their local supermarket. Canary Wharf-based London Block Exchange, a fintech start-up founded by a team of ex-City workers, has launched a debit card which will allow consumers ...

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Fitch downgrades Venezuela to ‘selective default’

Fitch

WASHINGTON: Fitch downgraded cash-strapped Venezuela to “restricted default” on Tuesday over its failure to make overdue payments on its sovereign bonds. “Fitch Ratings has downgraded Venezuela’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’ and affirmed the Long-Term Local Currency IDR at ‘CC’,” the ratings ...

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TalkTalk swings to a loss on investment drive

TalkTalk

LONDON: Telecoms group TalkTalk has dived to a half-year loss and trimmed its earnings outlook as it took a hit from efforts to secure more customers by investing in the business. The FTSE 250 firm booked a loss of £75 million for the six months to the end of September, ...

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Google Under Privacy Investigation in Missouri: Tech Had Better Worry

google-

PARIS: Just months after the EU fined Google $2.7 billion for antitrust activities regarding search results, Missouri Attorney General Josh Hawley today announced an investigation into the company. At question is whether Google violated the state’s antitrust or consumer-protection laws. It’s another headache for Google and more regulatory danger like ...

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Bill Gates invests $80 million to build Arizona smart city

Bill Gates

A group associated with a Gates investment company has invested $80 million in a high-tech planned development outside Phoenix. The community in Belmont will be designed around high-speed networks, autonomous vehicles, high-speed digital networks, data centers, new manufacturing technologies and autonomous logistics hubs. It’s unclear how much former Microsoft CEO ...

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GBP weakens against USD as exchange rate tumbles

pounds 20

LONDON: It comes amid report that pro-Remain Tory MPs have threatened to side with the Labour party in order to force amendments to the Brexit bill. Meanwhile former Liberal Democrat leader Sir Vince Cable has stated that a coalition of Lords – including rebel Tory peers – will amend the ...

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Amazon introduces Prime Now delivery fee

AMAZON

LONDON: Amazon has introduced a minimum order fee for its Prime Now same day delivery service. For purchases under £40 made through the delivery service, customers will have to pay £3.99 plus a £2 tip for drivers. Previously, Amazon had a minimum order of £20 to get free same day ...

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May to meet with EU business leaders amid deadlocked Brexit talks

Theresa May

PARIS: Prime Minister Theresa May will meet with European business leaders to discuss the future of UK-EU trade after Brexit as she is warned over the “urgency” to provide firms with certainty in the coming months. The Prime Minister will use Monday’s meeting to attempt to win support from European ...

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