Sunday, 25 February 2018

Business

London Mayor tight-lipped on pending Uber license decision

UBER

LONDON Mayor Sadiq Khan declined to comment on whether taxi app Uber [UBER.UL] will have its license renewed ahead of a decision due by the end of month, saying that giving a running commentary could prompt legal action afterwards. Uber, which has faced protests from drivers of London’s traditional black ...

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Jane Austen £10 banknote goes into circulation in Britain

POUND NEW NOTE 10

The first ever British banknote to contain a portrait of a female – apart from the Queen – went into circulation on Thursday, the Bank of England announced. The new tamper-proof £10 note features the famous English novelist Jane Austen. Just over one billion polymer ten-pound notes have been printed ...

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Bank of England eyes rate rise as inflation surges

POUND-UK

LONDON: A senior Bank of England official says it is “approaching the moment” when it may need to raise interest rates. Gertjan Vlieghe, who is on the Bank’s Monetary Policy Committee, says there are signs the UK economy is picking up and can handle a rate increase. It comes after ...

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Bidding war for bankrupt Air Berlin closes

AIR-BERLIN

BERLIN: Friday brings a moment of truth for bankrupt Air Berlin, as a raucous bidding war closes that could see Germany’s second-largest airline broken down for parts amid wildcat strikes by pilots. Some 8,500 employees, 140 aircraft and a string of precious landing slots at German airports are in the ...

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Booker sales rise ahead of merger

Booker

LONDON: The group, which has two Booker sites in Wolverhampton and one in Kingswinford, saw both catering and retail sides perform well. Non tobacco sales were up 5.8 per cent. Tobacco sales continued to be adversely impacted by changes in tobacco legislation and were down 9.4 per cent on a ...

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Ban on Internet calls to be lifted in Saudi Arabia

ARAB

MANAMA: Internet voice and video calling applications, including WhatsApp, Skype, and Viber will be available in Saudi Arabia as the ban will be officially lifted. The block on the access to the voice call applications will be removed on Wednesday, Abdullah Al Sawaha, minister of communications and information technology, said. Coordination ...

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John Lewis profits fall by half

John Lewis

LONDON: John Lewis Partnership profits have fallen by more than 50% after the retail group was hit by costs to reorganise the business. Profit before tax fell 53.3% to £26.6m for the half-year ending 29 July after a £56.4m charge mainly for restructuring and redundancy costs. At the John Lewis ...

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Scottish unemployment rate falls to lowest level in 42 years

Scotland

EDINBURGH: Scotland’s jobless total fell by 7,000 in the three months to July, to stand at 102,000. The unemployment rate fell by 0.3% from the previous quarter to reach 3.8% – below the UK figure of 4.3%. The number of people in work rose by 60,000 to 2,587,000, according to ...

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Pilgrim’s Pride to pay $1 billion for UK unit of parent JBS

Pilgrim's Pride

SAO PAULO: Brazil’s JBS SA agreed on Monday to sell a British poultry unit to U.S. subsidiary Pilgrim’s Pride Corp for $1 billion (759.01 million pounds), preserving revenue in more profitable activities abroad as the world’s biggest meatpacker faces a corruption scandal at home. In a statement, Pilgrim’s Pride said ...

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Google appeals against EU’s $2.7 bn antitrust fine

google-

LONDON: Google has appealed against the record $2.7 billion antitrust fine imposed by the European Union (EU) back in June for breaching its rules by abusing the monopoly it enjoys over internet search. The Luxembourg-based general court, Europe’s second-highest, is expected to take several years before ruling on Google’s appeal, ...

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