Britain’s OneWeb launches 36 broadband internet satellites from Russia

OneWeb has launched 36 satellites into orbit from a cosmodrome in the far east of Russia as part of the satellite firm’s plans to deliver global high-speed internet access. The launch on Thursday (25), carried out by Arianespace from the Vostochny cosmodrome, brought the number of in-orbit satellites to 146, part of a fleet designed […]

Boohoo cuts ties with hundreds of suppliers; Claudia Webbe MP demands compensation for workers

ONLINE Fashion brand Boohoo has cut ties with hundreds of companies following a damning review of its supply chain in 2020. The company has published a full list of 78 UK suppliers it works with after the review by Alison Levitt QC found the fast fashion retailer had been working with up to 500 UK […]

Slump in clothes prices causes surprise UK inflation dip

BRITISH inflation unexpectedly fell last month, reflecting the biggest annual drop in clothing prices since 2009 and cheaper second-hand cars, toys and computer games, though most economists see sharper price rises ahead. The annual rate of consumer price inflation dropped to 0.4 per cent in February from 0.7 per cent in January, the Office for […]

Saudi Aramco says a potential deal with India’s Reliance is ‘live’

SAUDI ARAMCO remains in discussion with India’s Reliance Industries to buy a 20 per cent stake in the Mukesh Ambani-owned firm, said Morgan Stanley citing the Saudi firm’s analyst call post announcing 2020 earnings. In August 2019, Reliance chairman Ambani announced talks for the sale of 20 per cent stake in the oil-to-chemicals (O2C) business, […]

Hinduja Group partners with Focus Financial Partners to launch global wealth advisory

THE UK-based Hinduja Group has launched Berryllus Capital, a global wealth advisory firm, by partnering with US-headquartered Focus Financial Partners. The new joint venture will focus on investment management, investment banking and real estate advisory for ultra-high net worth families around the world. Focus Financial Partners has offices in London, Geneva and Singapore, and provides […]

UK’s unemployment rate declines by 5 per cent

Britain’s unemployment rate fell to 5.0 per cent in three months to the end of January, but remained close to five-year high as the country looks to lift coronavirus restrictions. In a statement by Office for National Statistics (ONS), in comparison with the three months to the end of December, the rate was 5.1 per […]

Collapsed financier Greensill may face a formal inquiry

A group of MPs in Britain will meet on Monday (22) to decide whether to launch a formal inquiry into the collapse of supply chain financier Greensill. The meeting happens amid claims that former prime minister David Cameron personally lobbied the government on its behalf, reported The Telegraph. The Treasury Select Committee is expected to […]

Mukesh Ambani case: Senior police officer approaches India’s top court

A senior Mumbai police officer filed a complaint in the Supreme Court on Monday (22) accusing a state government minister of corruption, the latest development in a bizarre case that has transfixed the media for weeks. Param Bir Singh, the former head of police in Mumbai, filed a petition seeking an ‘unbiased, uninfluenced, impartial and […]

India changes rules on investment by non-residents in domestic companies

INDIA’s industrial promotion department has said that investment by non-resident Indians (NRIs), on non-repatriation basis in an Indian company, will be treated as domestic investment for the purpose of calculating indirect overseas inflows. The government has reviewed the foreign direct investment (FDI)  policy in relation to investments made by an Indian company owned and controlled […]

Employees at Goldman Sachs complain of 100-hour work weeks and abuse from colleagues

JUNIOR bankers at investment bank Goldman Sachs have said that they are facing ‘inhumane’ conditions, including 100-hour work weeks and ‘abuse’ from colleagues. An internal survey among 13 first-year bankers showed they averaged 95 hours of work a week and slept five hours a night, reports said. The survey, presented to the bank as a […]

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