News

Tesco to settle accounting error for £129 million plus £85 million damages to investors

Large supermarket group Tesco is set to pay £129 million in settlement for overstating the company's profits in 2014.

Wells Fargo to pay $110 million settlement over accounts scandal

US bank Wells Fargo has agreed to pay $110 million as settlement for the 11 class-action lawsuits brought by customers who had accounts opened without their permission.

UK officially leaves EU; forecasters warn of tough times ahead

While Theresa May told MPs that Brexit doubters should look forward with optimism, forecasters warn that divorce from the EU will be costly and that it could weigh heavily on UK's economic prospects in the next years.

Amazon acquires e-commerce platform Souq.com

Amazon executives did not disclose the value of the deal to which Goldman Sachs refer to as the "the biggest-ever technology M&A transaction in the Arab world."

Hedge fund exec linked to Madoff jumped to his death

Murphy, who worked at the Fairfield Greenwich, was at the top of his game, controlling the hedge fund when the firm invested billions with Madoff. Fairfield lost almost $50 million that led to investors filing a class action lawsuit.

Elon Musk launches brain electrode company Neuralink

The idea of Elon Musk in creating Neuralink is to improve memory or give humans added artificial intelligence. This could be achieved by developing neural lace technology that would implant tiny electrodes into the brain.

American Airlines to buy $200 million worth of shares in China Southern

The deal ties American Airlines, one of the three big carriers in the US, with one of China's big three state-run airlines.

Qatar pushes £5 billion UK investment despite Brexit

Qatar claims that Brexit will have no impact on its investment efforts as the country is looking into the long-term view.

Apple, Facebook join augmented reality glasses race; tech groups bet it could replace smartphone

Apple and Facebook are going up against start-up company Magic Leap and Microsoft's HoloLens in developing a pair of augmented reality glasses that could one day replace the smartphone as the primary computing device for consumers.

UK banks face new stress test scenario by the Bank of England

Bank of England prepares new stress test scenarios to be given to UK's biggest banks in preparation for any sudden slowdown in foreign interests in UK assets. The Brexit vote last year has triggered a sharp drop in the value of the pound.

New pound coin's hidden security features, problems and availability

The new 12-sided £1 coin comes into circulation on Tuesday with a hidden security feature that would stamp out fraud and counterfeiting.

Starbucks lags behind Dunkin's performance

Wall Street notes many people are starting to buy their drinks at Dunkin' Donuts instead of the popular caffeine company Starbucks. Dunkin' Brands' shares, which houses Dunkin' Donuts, went up 10 percent this year and 25 percent over the past 12 months.

Uber suspends self-driving cars operations after Arizona crash

Uber Technologies Inc. is suspending its self-driving cars after one of its autonomous vehicles was involved in an accident in Tempe, Arizona. This is the latest incident from the company that is facing one controversy after the other.

More big brands pull ads from YouTube

The brands told reporters on Thursday that they were pulling either some or all of their ads from Google-partnered websites. This comes after they were being alerted that their ads were still appearing next to extremist videos even after when YouTube has apologized for the matter.

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