The Indian economy has boosted as it grew more than 7 per cent on an annualised basis in the final quarter overtaking China. Data released yesterday show the economy grew at an annual rate of 7.2 per cent in the final quarter of last year, continuing its bounce back from a sharp slowdown in…
Administrators were called to both Toys R Us UK and Maplin on 28th February 2018, into hours of each other as both had failed in their efforts to secure a rescue. Toys R Us failed despite securing a deal among its creditors just before Christmas that allowed it to shut its worst-performing stores and slash…
Cfius, Committee on Foreign Investment in the United States, an inter-agency committee which scrutinises deals for potential national security concerns, chaired by the US Treasury secretary, US Regulator have blocked the $580m acquisition of Massachusetts-based Xcerra Corp, a semiconductor testing company by Hubei Xinyan, Sino IC Fund, a Chinese state-backed fund established in…
The fast-food chain continued to fail in selling fried chicken, as their distribution deal with DHL went horribly wrong after branches around the UK started closing last weekend, the 180, 000 square foot of warehouse in Warwickshire had logistics problems caused by a switch from its longstanding distribution Bidvest to DHL. KFC Tweeted, “ We…
Toys R Us, directors have told the Pension Protection Fund (pensions lifeboat) that their impending plan to appoint administrators early next week. Their US arm filed for Chapter 11 bankruptcy last year but claimed at the time that this would have no impact on its UK operations. Toys R Us is preparing to close 25…
The running green men and the red traffic light men in Southern Taiwan got girlfriends thanks to Valentine’s Day. The first 40 pedestrian signs featuring a new couple design has been installed at an official ceremony in southern Pingtung County. The red traffic light now features animated red man kneeling down to propose to his…
The Aseman Airlines, a twin-engine turboprop, flight EP3704 en route from Tehran at 04:30 GMT, to the south-western city of Yasuj, crashed near the city of Semirom in Isfahan province an hour later. Sixty-six people, two security guards, two flight attendants and the pilot and co-pilot were on the board are feared to have been…
Seven-year-old Snapchat is a conundrum for people over 30. Billy Gallaher captures the appeal of the Snapchat but fails to exert the secrecy of how a photo-messaging app with a definite reputation as sexting tool rose to become a $22bn public company used by 187 million people daily. Snapchat is an image messaging…
The Lloyds Banking Group mandate which represents a fifth of Standard Life Aberdeen’s Assets, which had already fallen from £670bn to £646bn after a wave of investment redemptions despite record equity prices. Last year’s £11bn takeover of Aberdeen Asset Management by Standard Life, experienced a collapse after the UK’s biggest fund managers lost its biggest client…
Punjab National Bank, one of India’s second largest banks has uncovered fraudulent payments worth £1.3bn ($1.8bn) to a handful of customers made through a single branch in Mumbai. Based on these transactions, other banks appear to have advanced money to these customers abroad. Shares in PNB fell dramatically to 10.4 per cent yesterday, valuing the…