Category Archives: Business

Amazon to buy Middle East online tradesman Souq

Amazon to buy Middle East online tradesman Souq

Image copyright AP Amazon has done a initial pierce into a Middle East after similar to buy a region’s largest online retailer, Souq.com, for an undisclosed amount. Souq was launched in 2005 and offers some-more than 8.4 million products. It sells opposite 31 categories including consumer electronics, fashion, health and beauty, domicile products and baby. “Amazon and Souq share a ...

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Ford to deposit $1.2bn in Michigan plants

Ford to deposit $1.2bn in Michigan plants

Image copyright Reuters Ford has pronounced it will spend $1.2bn (£1bn) as partial of a designed ascent of 3 Michigan plants. It pronounced $850m will be spent on retooling a bureau in Wayne where Ford skeleton to build Bronco and Ranger models. In addition, Ford will emanate 130 jobs during a Romeo engine tools plant, it said in a statement. ...

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China’s Tencent buys 5% interest in Tesla

China’s Tencent buys 5% interest in Tesla

Image copyright Getty Images Chinese tech hulk Tencent has spent $1.78bn (£1.4bn) on shopping a 5% interest in electric carmaker Tesla. Tencent, best famous for a WeChat mobile app, has been investing in a series of sectors, including gaming, entertainment, cloud computing and online financing. Tesla pronounced a interest was passive, definition Tencent would not get a contend in how ...

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Potholes ‘the speak of a canteen’

Potholes ‘the speak of a canteen’

“We pronounce about it all a time in a canteen, among drivers, a concerns about a reserve and comfort for a customers,” pronounced Stephen Hopson, a Bristol train driver. He is one of many drivers disturbed about a state of internal roads. A new consult suggests potholes are an augmenting a problem opposite a UK. One in 6 roads opposite ...

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Redrow withdraws Bovis takeover offer

Redrow withdraws Bovis takeover offer

Image copyright Reuters Redrow has cold a takeover offer for associate housebuilder Bovis. The Flintshire-based company, whose share and money offer was deserted by Bovis progressing this month, pronounced it would not lapse with a aloft offer. It pronounced it had pulled out since it was “not in a shareholders’ best interests to boost a proposal” and would now concentration ...

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Tesco fined £129m for overstating profits

Tesco fined £129m for overstating profits

Image copyright Getty Images Tesco has concluded to recompense a excellent of £129m to equivocate assign for overstating a increase in 2014. The supermarket hulk has reached a deferred assign agreement with a Serious Fraud Office (SFO) after a two-year investigation. The SFO pronounced Tesco had co-operated with a review and had undergone an “extensive” duration of change. Tesco also ...

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‘Bond King’ Bill Gross settles Pimco argument for $81m

‘Bond King’ Bill Gross settles Pimco argument for $81m

Image copyright Reuters Image caption Bill Gross has been nicknamed a “Bond King” from creation good bets on US Treasury bonds Star merchant Bill Gross has finished a “family disagreement” with his former organisation Pimco, in a allotment value an estimated $81m (£65m). The billionaire, dubbed Wall Street’s “Bond King”, sued Pimco after his sudden depart from a organisation in ...

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American Airlines tie adult partnership with China Southern

American Airlines tie adult partnership with China Southern

Image copyright AFP American Airlines and China’s biggest conduit by passengers, China Southern, have concluded a vital partnership. The US airline will buy $200m (£159m) value of shares in a Chinese organisation and a dual will “seek to boost cooperation”. China Southern is a latest of China’s tip airlines to move in an financier from outward a mainland. The understanding ...

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