Wednesday, 18 September 2019

Business

Royal Bank of Scotland says CEO resigns

LONDON: Britain’s bailed-out Royal Bank of Scotland said that chief executive Ross McEwan has resigned after steering it to a “stronger” financial position over the last five years. “RBS announces that Ross McEwan has resigned from his role as chief executive officer and executive director,” read a statement from the ...

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AT&T misses revenue estimates as pay-TV subscribers bleed away

NEW YORK: AT&T Inc’s first-quarter revenue fell short of Wall Street estimates after it lost subscribers in nearly all of its main businesses except wireless, where it paid heavily to gain customers through price promotions. AT&T lost a net 544,000 premium TV subscribers, a category that includes DirecTV satellite and ...

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South Korea posts worst growth figure for a decade in Q1

SEOUL: South Korea’s economy shrank 0.3 percent in the first quarter, its worst performance for a decade, its central bank said, as exports fell and companies cut investment amid the US-China trade dispute. It was the largest contraction for Asia’s fourth-biggest economy since a 3.3-percent drop in late 2008 at ...

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Apple sued for $1 billion after accusing teen of theft

NEW YORK: Apple is being sued for $1 billion by an 18-year-old New Yorker, identified as Ousmane Bah, who claims that the multi-billion-dollar company made several false accusations of theft against him and caused “severe stress and hardship.” The teen has filed a lawsuit at the Southern District Court of ...

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Twitter posts revenue rise, surprise growth

LONDON: Twitter Inc. posted better-than-expected quarterly revenue and a surprise rise in monthly active users, showing its efforts to delete spam accounts and better police posts were paying off by attracting more users and ad dollars. Twitter shares surged nearly 10 percent shortly after the first-quarter earnings announcement in premarket ...

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New flavors lift Coca-Cola results; shares rise

LONDON: Strong demand for Coca-Cola Co’s zero-calorie drink Coke Zero, new orange-vanilla cola and flavored waters pushed the beverage maker’s quarterly sales and profit well above Wall Street estimates, sending its shares up 2.2 percent. The world’s biggest beverage makers, Coca-Cola and PepsiCo Inc, are responding to shifting consumer tastes ...

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Indian extradited to US from Singapore in call center fraud

AHMEDABAD: Hitesh Madhubhai Patel, 42, of Ahmedabad, India, was scheduled to be arraigned Friday in a Houston, Texas federal court for his role in a case that was first announced in 2016, charging 60 people with wire fraud and money laundering conspiracy. Patel ran the HGlobal call center, one of ...

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Ford admits they ‘overestimated’ self-driving cars

NEW YORK: Although self-driving cars have become a hype in recent times, automaker Ford believes that the firm has ‘overestimated’ the arrival of those autonomous cars. American automobile manufacturer Ford’s CEO Jim Hackett recently put brakes on hopes of the company’s plans for self-driving cars, admitting that the first vehicles ...

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Instagram likely to hide ‘like’ numbers in future

LONDON: Reportedly, Instagram is considering to hide the like count on users’ profiles to lessen the tension of likes and direct the focus more on posts. Instagram says that it has not tested the feature. In a statement to The Verge, an Instagram spokesperson said: “We’re not testing this at ...

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