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Australia and others ask for Brexit trade compensation

Countries including Australia have asked for trade compensation from the UK and the EU over Brexit disruption. Some countries say that could lead to them having less of the favourable access than they currently have to what is a large and wealthy market. Australia said that the UK and EU …

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Saudi Aramco unveils next stage of blockbuster flotation

The world’s most profitable company has published more details about its planned stock market flotation. Oil giant Saudi Aramco’s long-awaited prospectus said individual retail investors will have a chance to buy shares as well as big institutions. But the 600-page prospectus did not say how much of the Saudi firm …

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Apple’s ‘sexist’ credit card investigated by US regulator

A US financial regulator has opened an investigation into claims Apple’s credit card offered different credit limits for men and women. It follows complaints – including from Apple’s co-founder Steve Wozniak – that algorithms used to set limits might be inherently biased against women. New York’s Department of Financial Services …

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Adidas and Prada: Or should that be Pradidas or Adada?

Italian fashion house Prada and German sportswear giant Adidas are joining forces to produce a limited edition trainer and sailing shoe. It’s the first time two of the most famous names in retailing have combined in what they say is a long-term partnership. But what to call the venture? Pradidas …

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US election 2020: Michael Bloomberg mulls presidential bid

Michael Bloomberg has highlighted climate change and gun control as key issues Billionaire businessman Michael Bloomberg is again considering entering the race for the US Democratic party’s presidential nomination. The ex-New York City mayor is concerned the current field of candidates is not good enough to beat Donald Trump in …

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Ex-Twitter employees accused of spying for Saudi Arabia

Two former employees of Twitter have been charged in the US with spying for Saudi Arabia. The charges, unsealed on Wednesday in San Francisco, allege that Saudi agents sought personal information about Twitter users including known critics of the Saudi government. Court documents  named the two as Ahmad Abouammo, a …

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US jobs growth beats forecasts despite GM strike impact

The strike at GM affected more than 40,000 workers US employment was more resilient than expected in October despite the impact of strike action at General Motors. Companies added 128,000 new jobs, ahead of a forecast 85,000 rise, during a month when thousands of workers walked out at the carmaker. …

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Indian journalists ‘targeted’ by Whatsapp spyware

WhatsApp has 1.5bn users, but it believed the attacks were highly-targeted Messaging app WhatsApp has said Indian journalists and activists are among some 1,400 people worldwide who were targeted with Israeli-made spyware. WhatsApp filed a lawsuit against NSO Group  on Wednesday, alleging it was behind cyber-attacks that infected devices in April …

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Apple profits hit by slowing iPhone sales

Apple’s business is being tested by ongoing weakening of its iPhone sales. In the most recent quarter, iPhone sales dropped to $33.4bn (£25.9bn), down almost 10% year-on-year. The fall extended a streak of declines and hit the firm’s profits in the quarter, which slipped about 3% year-on-year to $13.7bn. The …

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Luxury goods giant LVMH eyes $14.5bn Tiffany takeover

Audrey Hepburn’s aspiring socialite Holly Golightly in Breakfast at Tiffany’s made the jeweller a household name US-based Tiffany says it is “reviewing” a takeover offer worth about $14.5bn (£11.3bn) from the world’s biggest luxury goods company, LVMH. The companies confirmed the offer in separate statements on Monday, with the 182-year-old …

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Blowing whistle on dirty money ‘wrecked my life’

Lawyer Anna Waterhouse Anna Waterhouse was a high-flying lawyer at Deutsche Bank in Dubai. Now she’s unemployed. Amjad Rihan was a partner at the accountancy giant EY’s Dubai office. He also lost his job and hasn’t worked for more than five years. They both say their lives were destroyed after …

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DMO extends N100bn Sukuk offer by 2 days

The offer for subscription of the Federal government N100 billion Sukuk which ended today, September 20th, has been extended by 2 more days, according to a circular from the Debt Management Office (DMO) today. DMO said apart from serving as alternative source of funding for the Government, the Sukuk will also …

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WeWork warns of job cuts after Softbank rescue

     Marcelo Claure, chief operating officer of Softbank, was named WeWork’s new board chair WeWork leaders have warned staff to expect major job cuts after a shake-up at the struggling co-working company. Softbank, the firm’s biggest outside investor, has agreed to invest billions in the firm  after the collapse …

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Tesla shares surge after unexpected profit

  Mr Musk met Shanghai Mayor Ying Yong in January as work began on the new Gigafactory 3 Tesla shares have surged to their highest levels since February, after it told investors that manufacturing at its Chinese factory and plans for its next model were ahead of schedule. The firm …

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When to fire the boss: A tale of three sackings

  Travis Kalanick, Elizabeth Holmes and Adam Neumann have all left the firms they founded The names of some business leaders are so closely associated with the companies they run that it’s almost unthinkable the firm could exist without its boss. It’s as hard to imagine Facebook without Mark Zuckerberg …

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‘I lost £4,000 in a call centre scam’

When Doug Varey clicked on a pop-up ad offering computer security protection for 12 years for £556, he signed up. “I had no reason to suspect it wasn’t genuine,” he says. That was a mistake. Mr Varey was a victim of a common online scam known as computer software service …

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Drugs firms reach $260m US opioid settlement

Four drugs companies have reached a $260m (£200m) deal with two Ohio counties over their role in fuelling the US opioid crisis. The agreement averts a trial that had been scheduled to start in Cleveland. The counties had been seeking billions from Israel-based drugmaker Teva and drug distributors AmerisourceBergen, Cardinal …

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Brexit deal acceptable, says top Barclays banker

Prime Minister Boris Johnson’s Brexit deal is “acceptable” and the country should push ahead with it, leading banker Sir Ian Cheshire has said. Sir Ian, chairman of Barclays’ UK operations, told the BBC that business leaders wanted to see certainty. He added that it was “extremely unlikely” further negotiations with …

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Brexit date downplayed in government advertising shift

Billboards telling the public to prepare for Britain’s exit from the EU will launch soon The government has changed the wording of its Get Ready for Brexit campaign appearing to suggest a no-deal exit on the 31 October is now less likely. Its website now  says: “We could still leave …

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Pound slips in early trading after delay on Brexit vote

The pound slipped against the dollar as commercial currency markets opened for the first time since MP’s backed a move to delay approval of the Brexit deal . Most big banks in London had called in extra staff, expecting volatile trading after the first Saturday sitting in the House of Commons …

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Tesla gets the go-ahead to build cars in China

Mr Musk met Shanghai Mayor Ying Yong in January as work began on the new Gigafactory 3 Tesla has been given the green light to start manufacturing its cars in China. The electric carmaker, which is run by billionaire Elon Musk, is building a $2bn (£1.5bn) factory in the eastern …

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