Finance

Author: 0 Virgin Money agrees £1.7bn takeover by CYBG

CYBG Plc agreed to buy Virgin Money Holdings UK Plc for about 1.7 billion pounds (USD2.3 billion) in an all-stock transaction, creating a bank with about six million customers to challenge Britain's largest lenders. But the companies have admitted that, from their combined workforces of around 9,500 staff, up to 1,500 jobs are likely to go. Virgin Group is Virgin Money's biggest shareholder with a 34.8% stake in the business.

Finance Google to invest $550 million in Chinese e-commerce giant
Author: 0 Google to invest $550 million in Chinese e-commerce giant

JD.com's USA -listed shares rose 2.5 per cent to $44.68 in morning trading on the Nasdaq. JD.com is second only to Alibaba in China's booming e-commerce market, offering a huge potential market for Google and its customers. Google is stepping up its investments across Asia, where a rapidly growing middle class and a lack of infrastructure in retail, finance and other areas have made it a battleground for US and Chinese internet giants.

Finance Audi CEO Rupert Stadler arrested in Volkwagen emissions investigation
Author: 0 Audi CEO Rupert Stadler arrested in Volkwagen emissions investigation

A judge ordered that he be remanded into custody over fears he would attempt to suppress evidence. Stadler is the most senior executive yet to be detained in the dieselgate crisis, which started when the Volkswagen group admitted in 2015 to installing so-called "defeat devices" in some 11 million diesels worldwide that made them seem less polluting in lab tests than they actually were on the road.

Finance Audi boss Rupert Stadler arrested in dieselgate investigation
Author: 0 Audi boss Rupert Stadler arrested in dieselgate investigation

Audi CEO Rupert Stadler has been arrested in relation to the emissions cheating scandal. The arrest has been made in connection with Audi's parent company Volkswagen's role in emissionsgate (dieselgate). Around 11 million vehicles from Audi are allegedly fitted with the emission manipulation devices. On the open road, untested, the level of emissions would in practice be far higher - up to 40 times as bad as recorded under laboratory conditions.

Finance McDonald’s to switch to paper straws in UK, Ireland
Author: 0 McDonald’s to switch to paper straws in UK, Ireland

Now, McDonald's, the world's largest fast-food chain, says it will begin transitioning away from plastic to paper straws in U.S., U.K., and Ireland restaurants later this year, with plans to move to France, Sweden, and Norway before stretching the shift further across the globe.

Finance After Ola, Chinese ride-sharing giant Didi enters Australia
Author: 0 After Ola, Chinese ride-sharing giant Didi enters Australia

Commenting on the win, Zenith Australia CEO, Nickie Scriven, said, "We are delighted to be appointed as DiDi's lead agency as we launch DiDi into the Australian market". The International Monetary Fund warned this week US tariffs could dent global growth, but according to reports, President Trump is preparing to unveil $50 billion worth of new tariffs on another batch of Chinese imports.

Finance European Central Bank gets ready to pull the plug on stimulus
Author: 0 European Central Bank gets ready to pull the plug on stimulus

But he injected a note of caution by making the step "subject to incoming data confirming our medium-term inflation outlook". "The end of December's asset purchase program was largely expected". "It is certainly a possibility now". The bank said it was pulling the plug on its 2.55 trillion euro stimulus program, but after the Federal Reserve raised US interest rates for the second time this year on Wednesday, the ECB rate promise came as a relief.

Finance CPB Contractors wins $260m contract for BHP's South Flank
Author: 0 CPB Contractors wins $260m contract for BHP's South Flank

The dual-listed mining giant said the Western Australian project will fully replace production from its 80 million tonnes per year Yandi mine , which is reaching the end of its economic life. The investment includes construction of a new 80 million tonnes/year crushing and screening plant, as well as train loading facilities, a conveyor system and a stockyard.

Author: 0 Stocks close down as U.S., China trade fire on tariffs

If tariffs are placed on those products, they would likely affect farmers and rural supporters of president Trump . Beijing's countermeasures closely mirrored Washington's, with 545 American exports, also valued at $34 billion, facing punitive duties as of July 6, including agricultural products and vehicles, according to the official news agency Xinhua.

Finance Rolls-Royce Cutting Costs, Slashing Jobs
Author: 0 Rolls-Royce Cutting Costs, Slashing Jobs

Rolls-Royce plans to cut 4,600 jobs over the next 2 years as part of a major restructuring effort by the British plane engine manufacturer. It has amassed orders for over 2,700 aero engines for wide-body aircraft and business jets and is now undertaking its biggest ever increase in large engine production, targeting over 600 wide-body engines a year by the end of this decade.

Finance Simply Be and High & Mighty stores set to close
Author: 0 Simply Be and High & Mighty stores set to close

The shops, which are dotted around the United Kingdom, from London to Belfast and Glasgow, contributed £15m, or 2% sales, past year and made a loss of £3m. Analyst Darren Shirley at Shore Capital said: "In a challenging quarter for United Kingdom apparel, N Brown's first quarter 2018 trading has been a little better than subdued expectations, with management viewing the performance as "satisfactory...

Author: 0 Washington unemployment rate drops to 4.7 percent

A byproduct of higher participation has been a stubbornly high unemployment rate, which has fallen just 0.2 percentage points over the past year. The participation rate - which measures the percentage of people either in work or seeking work - was steady.

Finance Trump attacks OPEC again ahead of meeting
Author: 0 Trump attacks OPEC again ahead of meeting

The two nations want to put pressure on Opec producers to keep prices under control, he said in New Delhi on Wednesday, asking not to be identified because of internal policy. But the president has not mentioned the tax increase idea in months as gas prices have steadily risen because of higher oil prices on the world market, eating into higher take-home pay that millions of American workers gained when Congress late previous year passed tax-cut legislation supported by Trump.

Finance Is Wetherspoons really banning champagne because of Brexit?
Author: 0 Is Wetherspoons really banning champagne because of Brexit?

Founder and vocal Brexit supporter Tim Martin said that the move to non-EU suppliers would help to make prices lower in the long run, if the United Kingdom ends tariffs once it has left the customs union. Martin explained his anti-EU standpoint with: "There will be an inevitable transfer of trade post-Brexit to countries outside the European Union, which will reduce prices in shops and pubs".

Finance Volkswagen fined $1.2 billion in Germany over diesel scandal
Author: 0 Volkswagen fined $1.2 billion in Germany over diesel scandal

German auto manufacturer Volkswagen AG announced Wednesday to accept 1 billion euro (1.18 billion US dollars) fine issued by local public prosecutor in the context of the diesel gate scandal, to terminate proceeding in Germany . "This relates to bringing diesel vehicles fitted with manipulative emissions management software into circulation on the European market". " Volkswagen AG, by doing so, admits its responsibility for the diesel crisis and considers this as a further major step ...

Finance The Trump Presidency: Trump announces 25% tariff on Chinese goods
Author: 0 The Trump Presidency: Trump announces 25% tariff on Chinese goods

US soybean futures plummeted earlier this week on fears that a trade war was brimming and China would follow through on its threat of a 25 percent soybean tariff . The IMF said the White House , which has also threatened to withdraw from the North American Free Trade Agreement (Nafta), was responding to rising concerns about the side-effects of free trade.

Finance Facebook admits to collecting data on non-users
Author: 0 Facebook admits to collecting data on non-users

In response , Facebook only committed in writing that it would "investigate all apps that it had access to large amounts of data". Facebook also clarified that its Business Tools allowed partners to share data outside of the platform, adding that it also collected device information including IDs, app behaviour and so on.

Finance Seattle divided as leaders halt tax on companies like Amazon
Author: 0 Seattle divided as leaders halt tax on companies like Amazon

The Associated Press called the vote to repeal a "quick surrender" demonstrating the power of Amazon to sway governments at all levels against taxes. Meanwhile, Seattle's homeless population increased 44 percent in the past two years, and the town and surrounding county have the nation's third-largest concentration of people sleeping on the streets, according to a count done in 2017.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 452 453 454 455 456 457 458 459 460 461 462 463 464 465 466 467 468 469 470 471 472 473 474 475 476 477 478 479 480 481 482 483 484 485 486 487 488 489 490 491 492 493 494 495 496