Thursday, 20 September 2018

Business

UK inflation rate rises to 4-year high

LONDON: British inflation unexpectedly jumped to its highest level in nearly four years in May, tightening the squeeze on consumers who now face the added worry of political uncertainty after last week’s inconclusive election. The impact of the fall in the pound since last year’s Brexit vote made itself felt ...

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Sterling stunned by UK election shock, fallout limited elsewhere

PARIS: Sterling spiralled lower on Friday as British elections left no single party with a clear claim to power, sideswiping investors who had already weathered major risk events in the United States and Europe. With the majority of seats counted in the snap vote, British Prime Minister Theresa May had ...

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Shareholders settle multimillion-pound claim against RBS

LONDON: Shareholders who brought a multimillion-pound High Court action against Royal Bank of Scotland (RBS) have settled their claim against the lender, sources have said. The RBS Shareholder Action Group, which brought the £700 million lawsuit and represents 9,000 retail investors and 18 institutions, is understood to have informed the judge that ...

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Uber criticized for surge pricing after London terror attack

LONDON: Uber has been accused of taking too long to turn off its “surge pricing” feature after a deadly terror attack in the heart of London. App users complained that they were being charged inflated prices on Saturday night after a van plowed into pedestrians on London Bridge and three ...

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UK manufacturing keeps up momentum in May

LONDON: British manufacturing chalked up its second-fastest growth in nearly three years last month, putting the sector on track to shrug off election and Brexit-related uncertainty and improve on a weak first-quarter performance, a survey showed on Thursday. The Markit/CIPS manufacturing purchasing managers’ index (PMI) slipped to 56.7 in May ...

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Insurance costs to rise as new tax increase comes into force

LONDON: Millions of people are facing increased insurance bills as a tax hike takes effect from Thursday, according to warnings from the industry. Those who already pay more for their insurance face the heaviest burden, such as young drivers and those living in flood risk areas, the British Insurance Brokers’ ...

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British Airways left to count cost of weekend IT meltdown

LONDON: Shares in the parent company of British Airways fell yesterday after a huge IT failure left 75,000 passengers stranded over a holiday weekend, dealing a major blow to an airline that once marketed itself as “the world’s favourite”. The British flag carrier had to cancel all flights from London’s ...

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Bank of Scotland unveils new £10 polymer note design

LONDON: Bank of Scotland has unveiled the design of its new £10 polymer note, which is due to enter circulation in the autumn. The front of the note will continue to feature Scottish novelist and poet Sir Walter Scott alongside The Mound in Edinburgh. The Glenfinnan Viaduct will remain on ...

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Uber granted 4 month licence to continue in London

LONDON: Car hire service Uber has been issued a four-month operator licence to continue working in London. The firm, which allows users to book a car on a smartphone app, was granted a five-year private hire licence to operate in the capital in 2012. Transport for London (TfL) said the ...

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iPhone 8: Here’s all you need to know about the next series

LONDON: Over the past new months, countless leaks, images and rumours hinting at the alleged design and specifications of Apple’s upcoming iPhone 8, iPhone 7S and iPhone 7S Plus smartphones have surfaced online. The only detail that hasn’t been missing until now is the launch date. Now, a tipster has ...

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