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,…
65 million user account details were stolen during a hack on Tumblr, the microblogging site in 2013 with claims of 65, 469,298 email addresses and passwords stolen. In a statement, the company said the passwords were protected by a process called “salted and hashing”, which involves turning the password into a string of digits but…
Humdinga, a high-speed amphibious nine-seater taxi could be brought to river Thames near the O2 Arena within the next 12 months, under plans to beat congestion and could halve journey times between east and west London. The vehicle wheels fold beneath the 23ft carbon fibre chassis in less than five seconds upon hitting the water and has…
EgyptAir fight from Paris to Cairo made two sharp turns as it swerved 90ᵒ left and then 360ᵒ to the right and plunged to 15000ft into the Mediterranean Sea, and debris found in hunt for missing jet. A Greek frigate discovered two large floating objects in the Mediterranean sea following a sea Captain’s reported seeing…
Nokia’s once dominant mobile phone franchise will be given a new life as Microsoft exits the feature phone business it acquired from the Finnish Telecom group for £5.4bn in 2014. Nokia was worth £210bn ($300bn) once a decade ago. They have agreed to sell the unit it acquired from Nokia to Foxconn, the Taiwanese technology…
Retail entrepreneurs Mike Ashley, the billionaire founder of Sports Direct and John Hargreaves the founder of Matalan, the discount clothing chain was involved in last-minute rescue talks with BHS which went into administration in April 2016. The other leading bidders are Cafer Mahiroglu, who started as a rag trader in Stoke Newington, North East London was…
An EgyptAir flight MS804, Airbus A320 with 59 passengers and 10 crew members on board which left Paris at 23:09 local time on Wednesday 17th May 2016 (21:09GMT) and scheduled to arrive in the Egyptian capital at 3:00 local time has disappeared from radar 10miles (16km) into Egyptian air space. A search operation is underway…
World’s longest and highest glass bridge hovers 984 feet above a 1,410 feet wide canyon in China. An 180-metre-high and 300-metre-long Haohan Qiao, ( The Brave men’s bridge) the glass-bottomed suspension bridge hangs between two sides of a canyon, across a valley in Shiniuzhai National geological park in China.