Thursday, 18 October 2018

Business

Indian Jeweller Nirav Modi sold fake diamonds to Canadian national

TORONTO: Jeweller Nirav Modi, who is wanted in a multi-crore banking fraud in India, allegedly sold fake diamond rings to a Canadian national that cost him US$200,000, his girlfriend and also pushed him into depression. Paul Alfonso, who had no clue Modi was involved in a US$2 billion fraud at ...

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UK seeks additional reassurances from Comcast on independence of Sky News

  Comcast emerged triumphant in the long-running battle for the pay-TV group after it beat Murdoch’s Twenty-First Century Fox in a rare auction held last month Britain has sought additional reassurances from cable company Comcast over the editorial independence of the Sky News television channel following the US group’s takeover ...

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China used tiny chips on US computers to steal secrets

WASHINGTON: Tiny chips inserted in US computer equipment manufactured in China were used as part of a vast effort by Beijing to steal US technology secrets, a published report said. The Bloomberg News report said the chips, the size of a grain of rice, were used on equipment made for ...

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Wetherspoon, McDonald’s, TGI Friday staff holding strike

LONDON: Staff at McDonald’s, JD Wetherspoon and TGI Fridays are all to go out on strike together over working conditions. The group from the hospitality sector are set to strike on October 4 and join a rally at Leicester Square in London. Workers from two Wetherspoon pubs in Brighton, as ...

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Honda to invest $2.75bn in General Motors self-driving unit

WARREN: Honda Motor Co Ltd will invest $2.75 billion in General Motors Co’s Cruise Automation, the second outside multibillion-dollar commitment to the self-driving vehicle unit this year and an affirmation of the U.S. automaker’s strategy for the emerging technology. Honda, which has lagged behind many of its rivals in developing ...

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Instagram hit by outage in several countries

LONDON: Facebook Inc’s photo-sharing social network Instagram was not working on Wednesday for users across several countries, including London, United States, Singapore and Pakistan. Users took to Twitter to complain about the outage and tweeted messages along with the #instagramdown hashtag. According to a check by Reuters, the app displayed ...

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Michael Kors agrees to buy Versace for 2.1 billion

LONDON: Global fashion brand Michael Kors has agreed to buy Italian luxury label Versace for 1.83 billion euros ($2.12 billion), the pair announced Tuesday. “Michael Kors Holdings Limited, a global fashion luxury group, announced today that a definitive agreement has been signed to acquire all of the outstanding shares of ...

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Stocks retreat on trade worries, Italy budget concerns

LONDON: Stock markets slid as traders refocused on lingering global trade disputes and worries about Italy’s budgetary spending. At about 1100 GMT, London’s benchmark FTSE 100 index was down 0.4 percent from Monday’s close. In the eurozone, Frankfurt’s DAX 30 index shed 0.8 percent, Paris lost 0.9 percent and Milan ...

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Instagram appoints Facebook veteran as new CEO

SAN FRANCISCO: US photo-sharing site Instagram has named Facebook veteran designer Adam Mosseri as its new CEO to fill the vacancy left by a surprise announcement of Instagram’s two co-founders who are leaving the company, the social media network said. Instagram co-founders Kevin Systrom and Mike Krieger, who resigned abruptly ...

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