The British government offered Tata Steel the Indian company a multimillion-pound loan to persuade it to remain in the UK, and to keep the Port Talbot steel plant open, after not getting assurances that any prospective buyer would keep the plant open for more than three years. Tata Steel is offered a state loan of hundreds…
US astronomers using a radio telescope on Earth has managed to peep several tens of kilometers into atmosphere of Jupiter and discovered Very Large Array (VLA) trace the presence of Ammonia in the gas giant to study the circulation systems below the visible cloud tops and the planets Great Red Spot –a huge storm that…
Six-year-old Uber the ride-hailing service, valued at £43.13bn ($62.5bn) has attracted £2.43bn ($3.5bn) investment from Saudi Arabia Sovereign Wealth fund (Public Investment Fund), -set up by Kingdom to develop the country and invest its oil revenues, which will help to will help Uber to expand their service in Middle East where most users are women as…
Four-year-old popular messaging app Snapchat Inc valued at £12.42bn ($18bn), passed over 150million people using the service each day, and is now more popular than Twitter Inc by daily active users. Increasingly more and more investors like Fidelity Investment, Atlantic and Sequoia Capital are looking to have a share in Snapchat, as it generated £40.71m…
If you believe the hype in this book you can re-create Rembrandts, write Shakespeare-like sonnets, have faith in an algorithm that can predict chart- toppers and in another that can work out whether a novel will “hit” the bestseller lists. Google’s artificial intelligence system has also recently had a go at writing poetry with questionable…
BHS, the troubled UK department store chain is to be wound down, after attempts to find a buyer failed with the loss of 11,000 jobs, 8000 members of staff and 3000 non-BHS employees who work in the stores. The decision was taken as none of the offers was judged acceptable by administrators Duff & Phelps,…
The new plastic Bank of England £5 note entering into circulation on 13 September 2016, will be cleaner and more durable and could last five years, and harder to counterfeit than the paper notes. The use of thin, transparent polymer is a first for the Bank of England, which invested £70m in the project. Plastic…
Tata Steel has completed the sale of its long products business to Greybull Capital, an investment firm, for a nominal £1 for the business, which makes products such a railway tracks and steel used in construction and preserved 4,400 UK jobs and revived the British Steel name. The Sale includes the steelworks in Scunthorpe, Lincolnshire,…