Thursday, 12 December 2019

Business

EU clears Vodafone’s $22 billion Liberty deal

BRUSSELS/LONDON: Brussels gave its blessing to Vodafone’s $22 billion purchase of Liberty Global’s cable networks in Germany and central Europe, clearing the way for the British company to become Europe’s largest mobile, broadband and TV provider. The deal is the standout move by Vodafone in its bid to become a ...

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Huawei to set up regional headquarters in Pakistan

ISLAMABAD: Vice President of Huawei Group Mark Xueman Wednesday said his company would set up a regional headquarters in Islamabad at a cost of $55 million, which would create job opportunities for local young engineers. The leading Chinese mobile phone company would invest total $100 million in Pakistan during the ...

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EU probes Amazon over use of retailer info to gain edge

BRUSSELS: The European Union is opening a new front in its quest to more closely regulate big tech companies, saying Wednesday it was investigating whether US online giant Amazon uses data from independent retailers to gain an illegal edge when selling its own products. EU antitrust Commissioner Margrethe Vestager said ...

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Iran FM at UN accuses US of ‘economic terrorism’

UNITED NATIONS: Iran´s foreign minister renewed accusations that the United States was waging “economic terrorism,” on a visit to the United Nations during which Washington has sharply curtailed his movements. After months of soaring tensions, Foreign Minister Mohammad Javad Zarif came to New York for a UN session on sustainable ...

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Vodafone launches 5G in Germany

FRANKFURT: Vodafone said on Tuesday it was launching 5G services in Germany, taking on Deutsche Telekom by offering cheaper deals and reaching more cities than the market leader that went live last week. Vodafone, which has already launched limited 5G services in its British home market, is switching on 5G ...

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Tesla drops cuts prices to simplify lineup

BEIJING: Tesla Inc has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the US electric vehicle maker reported record deliveries. To simplify its offerings, the automaker on Tuesday limited ...

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Facebook’s Libra currency under fire

LONDON (AFP) – Facebook’s planned virtual unit Libra, already under heavy attack from US President Donald Trump and global regulators, faces scepticism among the wider cryptocurrency community as well. One theme – besides Brexit – dominated discussion among the movers and shakers from London’s financial technology or FinTech industry as ...

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Australian banks begin lowering mortgage stress test rates

SYDNEY: Westpac Banking Corp and Australia and New Zealand Banking Group are starting to lower the interest rate they use to stress test customers’ loan applications, a move expected to help stabilise house prices. The banks are the first two of the Big Four lenders dominating Australia’s banking system to ...

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Amazon workers strike as ‘Prime’ shopping frenzy hits

SAN FRANCISCO: Amazon workers walked out of a main distribution center in Minnesota, protesting for improved working conditions during the e-commerce titan’s major “Prime” shopping event. Amazon workers picketed outside the facility, briefly delaying a few trucks and waving signs with messages along the lines of “We’re human, not robots.” ...

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