Wednesday, 24 July 2019

Business

Deutsche Bank shares rise as 18,000 global job cuts begin

Deutsche Bank shares rose on Monday as it launched one of the biggest overhauls of its investment bank since the financial crisis by cutting 18,000 jobs around the world, starting the day with cuts in Asia. The lender announced the job losses on Sunday as part of a restructuring plan ...

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Samsung in hot water over splashy smartphone ads

Australia’s consumer watchdog has sued Samsung Electronics Co Ltd’s Australian unit for allegedly misleading consumers by promoting water-resistant Galaxy smartphones as suitable to use in swimming pools and the surf. The world’s largest smartphone maker did not know or sufficiently test the effects of pool or saltwater exposure on its ...

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Boeing loses big order for 737 Max aircraft

RIYADH: Flyadeal, the low-cost airline Saudi Arabian airline, has cancelled an order for 30 Boeing 737 Max aircraft. The decision follows the crashes of two 737 Max jets, the first in Indonesia in October followed by one in Ethiopia in March, which killed 346 people. Since then the aircraft has ...

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African nations launch ”historic” free trade deal

NIGER: African nations officially launched a landmark trade agreement at the African Union summit in Niger on Sunday, with the long sought-after agreement hailed as a historic step towards “peace and prosperity” across the continent. After 17 years of tough negotiations, the AU launched the “operational phase” of the African ...

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Indonesia sends more toxic waste, trash back to US, Europe, Australia

The Batam Customs and Excise Office has warned the importers of 49 containers filled with hazardous waste to follow the government’s order of returning the waste to their countries of origin within 90 days. Office head Susila Brata said the he had sent letters ordering four companies which were responsible ...

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Google backs down after New Zealand murder case gaffe

WELLINGTON: Google agreed Friday to change how it publishes New Zealand news after top officials in Wellington lashed the US tech giant for breaching court suppression orders in a high-profile murder case. Google had refused to tighten publication standards after sending out a news email to public subscribers in December ...

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IMF approves $6b loan package for Pakistan

NEW YORK: The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan to rein in mounting debts and stave off a looming balance of payments crisis, in exchange for tough austerity measures. Board approval will allow immediate disbursement of around $1 billion, with the remainder ...

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German court fines Facebook over hate speech action failings

BERLIN: A German court fined Face­book two million euros for not being transparent enough over the action it is taking to curb online hate speech. Under a new regulation that came in force on January 1st, 2018, compa­nies like Twitter and Facebook have 24 hours to remove posts that open­ly ...

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Amazon plans to create 1,800 jobs in France

PARIS:  The world’s largest online retailer Amazon will create 1,800 permanent posts this year in France as part of its plan to consolidate expansion in one of its key market in the European bloc, RTL radio reported. The report said the e-commerce giant was offering 1,800 permanent contract positions “in ...

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Vodafone joins EE in offering 5G in UK

LONDON: Vodafone on Wednesday launched its 5G service in the UK, but without smartphones from controversial Chinese technology giant Huawei. By sidelining Huawei phones, Vodafone has mirrored action by EE, the first UK provider to roll out the technology that offers almost instantaneous data transfer with its own launch at ...

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