12032016Sat
Last update: Sat, 03 Dec 2016 03am

Industries & Sectors

Business & Finance - Industries & Sectors

Facebook says to create 500 more jobs at new London HQ LONDON: Facebook will open a new London headquarters next year and create another 500 jobs, the leading social network said Monday, despite uncertainty over Brexit.The group said the move will take its British workforce to 1,500 staff, adding that Britain "remains one of the best places to be a tech company", amid ongoing jitters over the nation's looming exit from the European Union.Copyright AFP (Agence France-Presse), 2016 ...

Business & Finance - Industries & Sectors

Africa looks to solar for communities off the grid DAKAR/NAIROBI: Above the sacks of seeds and coal, three kerosene lamps gather dust in the tiny shed that Kenyan chicken farmer Bernard calls home.He prefers to use solar energy to light up his evenings, listen to the radio or watch television, after abandoning a diesel generator he said was expensive to maintain and burned fuel too quickly."Solar panels are a good, cheap solution," he told AFP.Across the continent, consumers are opting for their own off-grid ...

Business & Finance - Industries & Sectors

VW no longer expects tax demands in Germany related to diesel scandal FRANKFURT: Volkswagen does not expect the German government to make tax demands to cover revenue losses related to the carmaker's diesel scandal, a company spokesman said on Saturday. In Germany, motor vehicle taxes are tied to the volume of carbon dioxide emissions, among other things.VW, Europe's largest carmaker, has admitted using emissions-cheating software in a scandal that tarnished its image and left it facing billions of euros in fines and settlements.Last year, Volkswagen promised to ...

Business & Finance - Industries & Sectors

Volkswagen to cut 30,000 jobs in huge post-dieselgate revamp FRANKFURT AM MAIN: Volkswagen on Friday announced the biggest revamp in its history, cutting 30,000 jobs in a huge savings plan to help the German auto giant recover from the dieselgate emissions cheating scandal.The deal, agreed with workers' representatives after months of tortuous negotiations, will lead to annual savings of 3.7 billion euros ($3.9 billion) by 2020 and will allow the group to ramp up its investment in electric vehicles, VW brand chief Herbert Diess ...

Business & Finance - Industries & Sectors

Eni signs off on plans for Mozambique gas development MILAN: Eni on Friday finalised plans to develop Mozambique's Coral South offshore gas project, part of a larger scheme that will see Italy's top energy company and partners spend an estimated $50 billion. Eni has discovered huge gas reserves in its Area 4 concession, offering Mozambique, one of the world's poorest countries, potentially lucrative liquefied natural gas (LNG) exports. The Coral South project will require the construction of six subsea wells connected to a floating ...

Business & Finance - Industries & Sectors

BMW, Baidu joint project on self-driving cars breaks down GUANGZHOU/WUZHEN: German automaker BMW and Chinese internet giant Baidu will end their joint research on self-driving cars, executives for the two firms said on Friday, with Baidu now searching for new global research partners. Wang Jing, the head of autonomous car development at Baidu, told Reuters the company was now using cars from Ford's Lincoln in its US testing, declining to elaborate. "I'm open for any partners, actually I'm talking to many," Wang said, speaking ...

Business & Finance - Industries & Sectors

LafargeHolcim's higher payout fails to cheer investors ZURICH: Building materials group LafargeHolcim lowered its profit target for the medium term on Friday, overshadowing its proposal to increase its dividend by a third and buy back its own shares.The world's biggest cement maker, created by a merger of France's Lafarge and Switzerland's Holcim last year, announced plans for up to 1 billion Swiss francs ($993 million) in share buybacks and held out the prospects for special dividends, part of an increased focus on ...