Wednesday, 20 November 2019

Business

Work messaging app Slack takes next step for IPO

NEW YORK: Work messaging platform Slack is taking the next step in filing to go public, the latest in several highly anticipated tech IPOs. In documents posted with the Securities and Exchange Commission Friday, Slack Technologies Inc. says it posted a loss of $138.9 million on revenue of $400 million ...

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British airline EasyJet bans peanuts on flights

LONDON: British airline easyJet has stopped selling peanuts and will remove all nuts from inflight foods, it said Thursday, to protect passengers with allergies. The no-frills carrier said passengers will also be asked not to eat nuts on board if fellow customers are allergic. “The safety and welfare of all ...

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Samsung to invest $9.6 billion annually in logic chips

SEOUL: Samsung Electronics plans to invest 11 trillion won ($9.57 billion) annually through 2030 in logic chip businesses, including its foundry business, and expects the move to help create 15,000 jobs over the period. The total investment of around 133 trillion won comes at a time when the world’s top ...

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Perrie Edwards is face of Superga SS19

LOS ANGELES: Perrie Edwards is the new face of Italian footwear brand Superga SS19 and has created her own edit which will be released at different stages throughout the year. Little Mix star Perrie Edwards is the new face of Italian footwear brand Superga SS19. The 25-year-old singer has teamed ...

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Pride and pique as Louboutin takes Pakistan chappal global

PARIS/PESHAWAR: Famed for luxury red-soled stilettos, French shoe designer Christian Louboutin has taken inspiration for a new sandal from Pakistan’s tribal frontier, sparking claims of cultural appropriation along with grins from grizzled Pakistani cobblers. A post on Louboutin s Instagram last month announcing the release of the shoe sparked a social ...

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Germany, Pakistan sign Euro 58.8 million agreement

ISLAMABAD: Noor Ahmed, Secretary, EAD and Dr. Jens Jokisch, the Charge’ d’ Affairs of the German Embassy in Islamabad, signed an agreement for financial assistance under the Pakistan-Germany Development Program worth Euro 58.8 million (PKR 9.4 Billion). This financial contribution shall help Pakistan to strengthen its renewable energy sector and ...

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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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