Sunday, 22 July 2018

Business

Rolls-Royce to pay £671m to settle bribery probes

LONDON: Rolls-Royce has reached a deal to pay £671m to regulators around the world to settle allegations of bribery and corruption, including the largest UK fine ever imposed on a company for criminal conduct. The UK’s flagship engineering company has been under investigation in the US and UK for alleged ...

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British foreign minister welcomes Trump trade deal offer

BRUSSELS: Foreign Secretary Boris Johnson said on Monday he was sure that Britain and the United States could conclude a free trade deal that was in their mutual interests after President-elect Donald Trump said he was keen for one. “It’s very good news that the United States of America wants ...

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Pound falls ahead of Theresa May Brexit speech

LONDON: The pound has hit its lowest level for more than three months on reports Britain was set to quit the EU single market as part of its Brexit plans. Sterling fell below the $1.20 level before recovering slightly on Monday. The pound also dropped to a two-month low against ...

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Luxottica, Essilor agree 46-billion euro merger to create eyewear giant

PARIS: Luxottica and Essilor have agreed a 46-billion euro (40.76 billion pounds) merger deal to create a global powerhouse in the eyewear industry with revenues of more than 15 billion euros, they said in a statement on Monday. The deal, one of Europe’s largest cross-border tie-ups, brings together Luxottica, the ...

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Fed up British middle classes backing Brexit

MILTON KEYNES: It’s got money, jobs and it voted Brexit: the town of Milton Keynes near London represents a slice of middle-class voters fed up with a political elite ignoring their concerns. Just as in the United States, it was not just struggling blue-collar workers fed up with the flip side ...

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EU law ‘will continue to apply in UK during transition deal’

LONDON: EU law will apply in Britain after Brexit as an essential part of any transition deal, Malta’s prime minister has said. Joseph Muscat, whose country has just taken over the EU’s rotating presidency, also said it was “quite obvious” the City of London could be in line for a ...

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Tesco lifts market share for first time in 5 years

LONDON: Tesco reported positive underlying sales growth in the run-up to Christmas, the latest sign of a revival for the grocer as it increased its market share for the first time in more than five years. Britain’s biggest supermarket chain reported like-for-like sales growth of 0.7 per cent in its ...

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Petrol prices across UK reach highest level in two years

Petrol prices have reached their highest level in more than two years, Government figures have shown. On Monday, one litre of petrol reached an average of £1.18 – the highest since December 2014, according to data released by the Department for Business, Energy and Industrial Strategy. Diesel car drivers have ...

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