Thursday, 19 April 2018

Business

Sequoia in $50m backing for UK chipmaker Graphcore

chipmaker

LONDON: UK chipmaker Graphcore has raised $50m from Sequoia Capital, one of Silicon Valley’s top venture capital firms, as the start-up angles to become Britain’s biggest maker of artificial intelligence hardware. Sequoia has only made a handful of investments in Europe but said Graphcore was poised to compete with industry ...

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Mercedes team robbed at gunpoint in Brazil

Mercedes

BRASILIA: Members of Lewis Hamilton’s world-championship winning Mercedes team were robbed at gunpoint as they left the Interlagos circuit on Friday night. A minibus, transporting Mercedes staff back to their team hotel, was held up at 2200 local time. One of the team had a gun held to their head, ...

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Uber Loses London Employment Tribunal Appeal on Workers’ Rights

Uber Drivers Present Petition To Transport For London

LONDON: The GMB union said a ruling by the Employment Appeal Tribunal (EAT) was a “landmark victory” for workers’ rights, especially in the gig economy. Two drivers, James Farrar and Yaseen Aslam, won an employment tribunal case last year after arguing that they were “workers” and entitled to the minimum ...

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Ofgem confirms £150 cap for prepayment meter charges

Ofgem

LONDON: Ofgem has announced a £150 cap on charges for installing prepayment meters under warrant for customers in debt. When customers fall into debt, suppliers attempt to collect payments over several weeks, which could include by email, letters, telephone and house visits. If they don’t receive payments or arrange a ...

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Sainsbury’s profits fall 9% in first half

Sainsbury

Sainsbury’s said like-for-like sales had risen in the third quarter, but profits were hit by wage inflation. Like for like sales (excluding fuel) rose 1.6 per cent in the 28 weeks to the 23 September, the retailer said today, with underlying group sales rising 17 per cent to £16.3bn. But ...

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Driverless bus in crash after two hours on road in Las Vegas

DRIVERLESS

LONDON: A driverless shuttle was involved in a crash with a truck on the first day of operation in Downtown Las Vegas on Tuesday. Keolis, the company that helped build the shuttle, says that the crash was in a minor accident and that damage to both vehicles was cosmetic. The driver ...

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Nutella faces boycott from customers after tweaking recipe

Nutella

BERLIN: It’s the gloopy chocolate and hazelnut spread that has become a worldwide food phenomenon, whether slathered on toast or eaten straight from the jar by the spoonful. But aficionados of Nutella are up in arms after discovering that the recipe has been secretly changed, with more sugar and fat ...

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