Business & Economy

Uber London to lose operator licence after September
Monday, September 25, 2017 United Kingdom Related articles 20 August 2017: New South Wales police extradict 'self-...

US toy retail giant Toys R Us files for bankruptcy i...
Thursday, September 21, 2017 Economy and business Related articles 21 September 2017: US toy retail giant Toys ...

A halved Kinder Surprise chocolate egg, revealing a plastic cannister containing a toy. (Image: Mysid.)

William Salice, creator of Kinder Surprise eggs, die...
On Thursday, William Salice, credited with creating Kinder Surprise eggs, died at age 83 in Pavia, Italy because of a stroke, according to his foundation "Color Your Life Campus". Salice had worked with the businessman Michele Ferrero in the 1960s, the creator of the Nutella cream and owner of Ferrero Rocher. Ferrero died in 2015. In 1974, Kinder Surprise w...

Senior UK politicians talk at Confederation of Briti...
May formally announced plans to cut corporation tax from 20%, without giving details, in order to discourage businesses from leaving the UK post-Brexit. Corbyn said in his speech he believes investment by the government on things such as infrastructure improvements is shared ground between Labour and businesses but "businesses will need to contribute" meaning ...

A 2000 rupee note printed in Mysore (Image: Agastya Chandrakant.)

India discontinues ₹500, ₹1000 denominations; releas...
On Wednesday, India demonetised ₹500 (about US$7.50) and ₹1000 notes, announced as a measure to fight corruption, fake notes, and black money. Prime Minister Narendra Modi addressed the Indian citizens late Tuesday, and said 500 and 1000 rupee notes would cease to be legal tender at midnight. To minimise possible difficulties to citizens, transactions using o...

Chelsea announces Nike sponsorship
Yesterday, English capital football club Chelsea FC announced a long-term deal with US sports company Nike. Currently, German company Adidas made the kits for The Blues, a deal worth £30 million annually. Chelsea's contract with Adidas runs till 2023. Chelsea is obliged to pay about £40 million to the German firm. Chelsea's termination of Adidas's contract wa...

ARM to be bought by SoftBank
The United Kingdom's (UK) largest technology company, ARM Holdings, confirmed this morning that it had accepted an offer from the Japanese company, SoftBank. ARM logo ARM designs microchips used in many devices, including smart phones made by Apple and Samsung. It is expected to invest in the so-called Internet of Things, where many everyday items are e...

File photo of Claire Perry, 2015. (Image: Paul Bigland.)

British rail minister Claire Perry steps down
Southern has an ongoing dispute with the Rail, Maritime and Transport union (RMT) about increasing driver-only services, without conductors or guards. The union objected, citing concerns about job losses and driver safety. London mayor Sadiq Khan said "This utter mess is now an embarrassment to our city" and that he was "calling on the government to strip Sou...

File photo of Obama, Trudeau, and Peña Nieto, 2015. (Image: Pete Souza.)

North American Leaders' Summit 2016: leaders affirm ...
On Wednesday, U.S. President Barack Obama met with Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto in Ottawa. This marks the first time Canadian, U.S., and Mexican leaders have met since 2014, as 2015's summit was not arranged in the harsh political relations at the time. File photo of Obama, Trudeau, and Peña Nieto, 2015. ...

Glencore announces Tahmoor mine in New South Wales t...
Swiss mining company Glencore announced yesterday the closure of its coal mine in Tahmoor, New South Wales, Australia. The mine is to be closed by early 2019, pointing to the downturn of coal prices in global markets. Glencore stated, "The decision has been made as a result of continued low prices in global coal markets, which has meant the economic return fr...

Lord Howard and Alistair Darling address Confederati...
The dinner was held as the UK is expected to vote on the matter in next month's EU referendum. Lord Howard encouraged those in attendance to vote for the UK to leave the EU, while Mr Darling was speaking in favour of a vote to remain. Responding to the CBI calling for the UK to remain in the EU, Lord Howard referred to the organisation's previous calls to bec...

Telegraph publishes letter from 300 business leaders...
ss="published">Tuesday, May 17, 2016 United Kingdom Related articles 17 May 2016: Telegraph publishes letter from 300 business leaders who back UK leaving EU 13 May 2016: IMF says UK leaving the EU will lead to negative economic consequences 11 May 2016: Grand National winning horse 'Comply or Die' dies, aged 17 10 May 2016: Political columnist apologises...

UK's Financial Conduct Authority drop inquiry into c...
ss="published">Thursday, December 31, 2015 United Kingdom Related articles 31 December 2015: UK's Financial Conduct Authority drop inquiry into culture of banking 12 December 2015: UK's 'ban Trump' petition passes half-million mark 8 December 2015: UK court remands man in custody over Leytonstone knife attack 4 December 2015: UK begins airstrikes against ...

A Subway restaurant in Edinburgh, Scotland. (Image: Ian Thomson.)

Subway sandwich empire co-founder Fred DeLuca dies
Fifty years after starting his first sandwich shop as a teenager, Subway CEO and co-founder Fred DeLuca died on Monday. He was 67 and suffering from cancer. A Subway restaurant in Edinburgh, Scotland. Image: Ian Thomson. Subway yesterday announced his death, but not the location. He had developed leukaemia, which the company announced in 2013. The busin...

US adds 173,000 jobs in August; unemployment rate dr...
The US economy added 173,000 jobs in August, the Bureau of Labor Statistics reported on Friday. The unemployment rate fell from 5.3 to 5.1 percent, the lowest since April 2008. Although August job gains were lower than most economists forecast, job growth numbers for June and July were revised upwards by a combined 44,000. Average job gains over the past thre...

File photo: A Jeep Regenade seen parked in Düsseldorf, Germany. The recall in question affects some 2015 Jeep Regenades. (Image: M 93.)

Fiat Chrysler recalls 7,810 Jeep SUVs for software v...
7,810 Jeep SUVs are to be recalled in order to address a software vulnerability in the vehicles' entertainment systems which allows the vehicles to be "hacked" — allows vehicle software security to be compromised — Fiat Chrysler Automobiles US (FCA US) said on Friday. This recall affects some 2015 model Jeep Renegades. FCA US said exploiting the vulnerability...

US economy adds 215,000 jobs in July; unemployment r...
Continuing a trend of steady employment growth, the United States economy added 215,000 jobs in July, the Bureau of Labor Statistics said Friday. The unemployment rate remained unchanged at 5.3%. "Job growth is quite strong," stated Jim O'Sullivan, chief economist at High Frequency Economics, a data analysis firm in New York. "This pace of employment growth i...

Australian businessman Alan Bond dies aged 77
Australian business tycoon Alan Bond died today after complications from open heart surgery. He was 77. Following open heart surgery to repair and replace heart valves, leading to complications, Bond was placed in an induced coma. The family released a statement outside the Perth hospital where Bond died in intensive care following his operation on Tuesday. ...

Satya Nadella as new Microsoft CEO
Microsoft has announced today that the 44-year-old Satya Nadella has been appointed successor to Steve Ballmer as the new chief executive officer, effective immediately. Indian-born Nadella is the third CEO of the technology giant; he joined Microsoft in 1992 and has degrees in electronics, computer science and business administration. Satya was the head...

Bernard Hill, who played Captain Edward Smith in the 1997 Titanic movie, and Su Shaojun at the theme park launch. Photograph: Tyrone Siu/Reuters

New theme park in China will have a life-sized "sink...
A new theme park that is currently being built in China is said to have plans for some never seen before attractions. One of the attractions is a full sized replica of the Titanic and will simulate the sinking of the ship. The ship will be fitted with a simulation technology, using motion and sound effects it will allow several hundred people at once to exp...

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