07022016Sat
Last update: Sat, 02 Jul 2016 07am

Business & Finance - Industries & Sectors

Ryanair says to put brakes on new UK connections after Brexit shock BRUSSELS: Irish no-frills airline Ryanair will put the brakes on new UK connections for the coming months given the uncertainty caused by the British vote to leave the EU, its CEO said on Tuesday."I don't think we'll open up many new lines in the UK for the next twelve or eighteen months, until this current uncertainty is removed," chief executive Michael O'Leary told AFP in Brussels.Ryanair earns more than a quarter of its sales in Britain and is particularly at risk to turbulence from the shock vote. O'Leary said the entirety of an upcoming delivery of 50 Boeing aircraft would be used for routes outside Britain."Most of those, if not all of those aircraft, will be allocated to European Union countries: Ireland, Spain, France, Italy, Germany, central European countries," he said.Copyright AFP (Agence France-Presse), 2016


Business & Finance - Banking & Finance

Lloyds CEO reassures staff on bank's strategy, strength after Brexit vote LONDON: Lloyds Banking Group Chief Executive Antonio Horta Osorio wrote to the bank's 75,000-strong workforce on Tuesday to give reassurances on strategy and group strength in the face of Britain's vote to leave the European Union, a memo seen by Reuters showed.Britain's biggest mortgage lender saw its shares tumble in the two days following the referendum result but Horta-Osorio said Lloyds had "robust plans in place for either outcome" and its strategy would remain unchanged. ...

Business & Finance - Industries & Sectors

US files VW settlement, details buybacks WASHINGTON: German automaker Volkswagen AG has agreed to pay more than $15.3 billion in a settlement with US regulators over pollution caused by its diesel vehicles, according to a source briefed on the matter. The settlement stems from VW's admission in September that it intentionally misled regulators by installing secret software that allowed US vehicles to emit up to 40 times legally allowable pollution. It covers 475,000 2.0-liter vehicles. The Justice Department filed a proposed ...

Business & Finance - Industries & Sectors

New Nestle CEO to lead health pivot ZURICH: Analysts on Tuesday praised Nestle's choice for its new chief executive, healthcare executive Ulf Mark Schneider, as the food giant took a further step in its bid to become a leader in nutrition. Schneider, 50, will take over on January 1, replacing outgoing chief Paul Bulcke who has been nominated to become the company's chairman. In tapping Schneider for the post, Nestle bucked its near century-long track-record of picking in-house candidates as chief executives. ...

Business & Finance - Industries & Sectors

easyJet says speeding up work on getting alternative EU operating licence BRUSSELS: EasyJet has sped up talks on setting up an aircraft operating licence in a different EU country following Britain's vote to leave the European Union, but says the industry's fundamentals remain strong. "It is business as usual.We have to spend a little more time formalising conversations we've had and thinking through the next steps," Carolyn McCall told Reuters on the sidelines of a meeting of the A4E airlines association in Brussels. Should Britain be ...

Business & Finance - Industries & Sectors

Microsoft pays price for forced installation Microsoft, the world largest software maker has been found guilty for forcefully installing Windows 10 update on a woman PC, without her approval. The company has to pay $10,000 in compensation over the forced update.Teri Goldstein, a resident from California USA sued the company for trying to automatically installing Windows 10 on her PC, which began to work improperly leading to loss of files, she claimed. The Irish Examiner, the Windows has been aggressively seeking ...

Business & Finance - Industries & Sectors

How Facebook use your phone to suggest new friends? The internet social media platform, Facebook is known to keep a vigilant eye over its users, now reports suggest that Facebook is using your phone’s location to suggest new friends for you.According to Fusion, Facebook identifies new friends as its ‘People You May Know’ help’s page reads, “We show you people based on mutual friends, work and education information, networks you’re part of, contacts you’ve imported and many other factors.”Now, what are those ‘other factors’ ...