PwC thought about ending relationship with Ineos

PwC, the Accountancy giant has considered resigning as auditor and adviser to Ineos the petrochemical empire over an ambitious tax-avoidance plan being put together by its three most senior executives according to The Sunday Times. Sir Jim Ratcliffe, the founder of Ineos and Britain’s richest person with an estimated fortune of £21bn, and his lieutenants…

UK’s Flybmi ceases flights with 376 job losses

  Flybmi has gone into administration, blaming high fuel prices and uncertainty over Brexit. Passengers are being told not to come to the airport unless they have rebooked flights with alternative providers as all Flybmi flights are cancelled with immediate effect from Saturday. 376 people based in UK, Germany, Sweden and Belgium worked for the…

Amazon finishes New York affair on Valentine’s Day

Amazon, the biggest company in the US  with the richest man as its head, stunned New York by announcing it would no longer relocate its second headquarters to the city, which promised 25, 000 jobs and its $3bn tax incentives and $27bn in tax revenues over the next two decades.  Possible culprits include State Governor…

Barclays discussed Russia’s £500m rescue offer

According to the minutes read to a jury yesterday at London’s Southwark Crown Court, part of a landmark fraud trial, Barclay’s board was told of interest from the Russian government in taking a stake, with a £500m emergency capital as the bank battered to avoid a UK tax-payer rescue at the height of the financial…

Alibaba buys WorldFirst for £546m

Alibaba unit Ant Financial snaps up British Payments group WorldFirst in a £546m ($700m) deal. Ant Financial said the deal will enable the group to reach more customers “especially in the fast-growing area of cross-border ecommerce”. Last year Ant Financial’s thwarted attempt to takeover MoneyGram International, a US based cross-border payments group, that Washington blocked…

Instagram to remove self-harm images

Instagram boss Adam Mosseri says he hopes new technology will help to flag all graphic images of self-harm  and will be removed from Instagram. Father of Molly Russell, 14-year-old who took her own life in 2017, said Instagram had “helped kill” his daughter. Molly’s family found she had been viewing graphic images of self-harm on…

Shares in Snap soared 26 per cent

Shares in Snap, maker of the Snapchat messaging app soared 26 per cent at the start of Wall Street trading after the firm said last night it had arrested a fall in users on Apple device and drew a series of favourable reviews from analysts for its progress with a new Android app. The targeting…

Future of AI streamlined by online game

A new game that claims to break new ground – with a machine intelligence trying to communicate and collaborate with people rather than crush them. The game developed by the AI institute of the late Microsoft founder Paul Allen, which was set to go live online yesterday, is like Pictionary, with one side drawing a…