07252016Mon
Last update: Mon, 25 Jul 2016 05am

Business & Finance - Industries & Sectors

Samsung Galaxy Active is not waterproof, says report Samsung’s Galaxy S7 Active has come under fire after consumer reports revealed that the Samsung’s latest is not water resistant.As per Android Authority, the Consumer Reports ran a water-resistance test on two Galaxy S7 Active device, the devices were immersed in 5 feet of water, for 30 minutes. However both devices were unable meet the advertised water resistance.The tests caused flickering screen and moisture inside its parts, as Samsung Active were unable to pass the test. The South Korean conglomerate however, has issued a press statement, in which it has backed its claims that the Galaxy S7 Active is, IP68 certified and it stands behind its standard limited warranty.“The Galaxy S7 active passed rigorous tests to ensure IP68 certification for water resistance,” said Samsung in a statement. “Samsung stands behind this water resistance certification, and will replace any Galaxy S7 active under its standard limited warranty, should water damage occur,” ...


Business & Finance - Banking & Finance

Bank of England's Weale sees little urgency to cut interest rates LONDON: Bank of England policymaker Martin Weale said on Monday he was unsure if he would back an interest rate cut at next month's BoE meeting, in contrast to most of his colleagues who think a cut is likely. Weale - who will step down after next month's meeting - said he did not see any sense of panic among consumers or businesses after Britain's vote to leave the European Union last month, and that ...

Business & Finance - Industries & Sectors

Chinese consortium buys Opera browser for $600 mn OSLO: A Chinese consortium has bought the Opera internet browser for $600 million (543 million euros), its Norwegian developer said Monday, after a public share offer for the company failed.The consortium led by Golden Brick Silk Road will purchase the mobile and desktop versions of the internet browser, plus performance and privacy apps and a stake in a Chinese joint venture, but not the television, media and games units, said Opera Software in a statement ...

Business & Finance - Industries & Sectors

Hapag-Lloyd, United Arab Shipping to merge FRANKFURT: German container shipping giant Hapag-Lloyd said on Monday it had signed a merger deal with the United Arab Shipping Company to create the world's fifth-largest container firm."Hapag-Lloyd AG and United Arab Shipping Company (UASC) have signed a Business Combination Agreement to merge both companies, subject to the necessary regulatory and contractual approvals," the firm said in a statement.No financial details were disclosed."This strategic merger makes a lot of sense for both carriers -- as ...

Business & Finance - Industries & Sectors

Hapag-Lloyd, United Arab Shipping sign merger agreement FRANKFURT: German container shipping giant Hapag-Lloyd said on Monday it had signed a merger deal with the United Arab Shipping Company to form the world's fifth-largest container firm."Hapag-Lloyd AG and United Arab Shipping company have signed a Business Combination Agreement today about the merger of the two firms, pending the necessary regulatory approval," the firm said in a statement.No financial details were disclosed.Copyright AFP (Agence France-Presse), 2016

Business & Finance - Industries & Sectors

SoftBank agrees £24-bn takeover of chip giant ARM LONDON: Japanese mobile giant SoftBank has agreed a takeover of British chip designer ARM Holdings worth around £24.3 billion ($32 billion, 29 billion euros), the pair announced Monday."We have long admired ARM as a world renowned and highly respected technology company that is by some distance the market-leader in its field," SoftBank chairman and chief executive Masayoshi Son said in a joint statement, in a major investment boost for Britain following Brexit.Son added that the ...

Business & Finance - Industries & Sectors

SoftBank's $32bn ARM deal shows UK attractive after Brexit vote LONDON: Japan's SoftBank Group Corp's planned purchase of chip designer ARM Holdings for 24.3 billion pounds ($32 billion) shows that Britain remains attractive for investment after the Brexit vote, finance minister Philip Hammond said. "Just three weeks after the referendum decision, it shows that Britain has lost none of its allure to international investors," Chancellor of the Exchequer Hammond said in a statement."Britain is open for business - and open to foreign investment. Softbank's decision ...