Uber buys Middle East rival Careem for $3.1bn

Ride-hailing service Uber has acquired Middle East competitor Careem for $3.1bn, giving the San Francisco-based firm the commanding edge in a region with a large young, tech-savvy population. Uber said the $3.1bn purchase consists of $1.7bn in convertible notes and $1.4bn in cash, when it made the announcement on Tuesday.  It marks the largest technology transaction in the Middle […]

Continue Reading
Demonetisation has hurt the country very badly: Sharad Pawar

Demonetisation has hurt the country very badly: Sharad Pawar

NCP president Sharad Pawar on Tuesday said demonetisation was an “unfortunate” decision that has hurt the country “very badly”. He also said the after-effects of the 2016 decision will be felt for years to come. Addressing a rally here in Marathwada region, Pawar said several industrial units shut down due to demonetisation announced by Prime […]

Continue Reading

UK and US housing figures fuel slowdown worries – business live

Rolling coverage of the latest economic and financial news, including weaker-than-expected housing data from Britain and America Latest: US housing starts drop UK mortgage approvals weaker than expected Brexit uncertainty is holding back demand for houses Earlier: Plumbing firm Ferguson in profits warning German consumer confidence fell this month Markets gripped by recession worries 1.36pm […]

Continue Reading
Flu vaccine 'could be airlifted into the UK' in event of no-deal, warns French drugs firm

Flu vaccine ‘could be airlifted into the UK’ in event of no-deal, warns French drugs firm

Flu vaccine could be airlifted into the UK after Brexit if routes such as the Channel Tunnel and ferries are disrupted, the boss of a leading drugs company has said. “We prepare in different ways and have prepared many different routes into the UK,” Hugo Fry, the UK managing director for French pharmaceutical company Sanofi told […]

Continue Reading
Explainer | How yield inversion in US Treasury impact Indian market

Explainer | How yield inversion in US Treasury impact Indian market

In normal circumstances, yields of long-term papers are higher than yields of short-term papers because of the risk involved in holding a debt instrument over a longer period of time given the risk of inflation and other uncertainties i.e. term premium. In a normal case, yields of 10-year treasury papers should be more than 3-month yields […]

Continue Reading

Curb bosses’ pay or risk breakdown of trust in capitalism, MPs warn | Business

Big companies should split their profits with staff and give employees a say in how chief executives are paid, or risk a complete breakdown of trust in the capitalist system, MPs have said. A report by the business select committee said a series of “shaming” decisions – including a £75m bonus handed to the boss […]

Continue Reading

UK-Australia direct flights: First year success increases chance for non-stop trips to Sydney

A year to the day after the first nonstop scheduled flight from the UK to Australia landed, the airline says “almost every flight is full” on the link. Qantas, which launched flight QF10 from Heathrow to Perth, also said pilots are covering the 9,009 miles between the two cities much faster than expected. Alan Joyce, […]

Continue Reading

‘Inconceivable’ Autonomy founder unaware of fraud, court told | UK news

Mike Lynch, the founder of the software group Autonomy, was a “controlling and demanding individual” and it was inconceivable that he was unaware of the fraudulent practices alleged to have been taking place at his company, the high court has heard. The claims are included in the opening submissions of a $5bn (£3.8bn) civil claim […]

Continue Reading

Mortgage rates slashed for buyers with 5% deposits, as lender price war intensifies

A mortgage price war to attract first-time buyers with deposits as low as 5 per cent is intensifying, with providers slashing their rates, analysis has found. The rate gap between the average two-year fixed-rate mortgage on the market for borrowers with a 5 per cent deposit, and the typical two year-fix for those with a 10 per cent deposit, […]

Continue Reading

Will build 10 Singapore in Delhi if full statehood granted: Arvind Kejriwal

Chief Minister and AAP supremo Arvind Kejriwal on Monday promised to build infrastructure equalling “ten Singapore” if full statehood was granted to Delhi. Addressing a public rally at Patparganj in east Delhi, he called for people’s support in the upcoming elections to ensure that Delhi gets full statehood. “We will build ten Singapore in Delhi. […]

Continue Reading