Business – Page 79 – The Saturn Herald

Huawei bought a stake in Oxford sciences Innovation

Huawei has bought a stake in the company that commercialises research at Oxford University , giving the Chinese telecoms group access to soe of the early stage technology developed by British academics. Oxford Sciences Innovation, whose mission is to bring Oxford’s best ideas to the world, is the largest fund dedicated to academic spin-offs in…

Forever 21 to close 178 stores after filing for bankruptcy

Forever 21 file for Chapter 11 bankruptcy protection in the US. The company said it plans to “exit most international locations in Asia and Europe but would continue to operate in Mexico and Latin America. The company plans to overhaul it global business, closing between 300 and 350 stores including 178 store in the United…

Virgin Atlantic flying home Thomas Cook crew free in Upper Class from Orlando

Little bit of kindness doesn’t not anything

When Thomas Cook folded suddenly leaving customers and staff stranded all over the world. Certain airlines wanted to charge Thomas Cook staff £10, 000 each to return home. But Virgin Atlantic flew Thomas Cook crew home free of charge in upper class. Employers would not go this far to help staff let alone staff…

OYO founder Ritesh Agrawal invests $1bn in Saudi Arabian luxury hospitality industry

OYO to invest $1bn in Saudi Arabia

OYO to invest $1bn investment in Saudi Arabia creating jobs for over 5000 Saudi citizens by 2020. OYO has obtained its foreign investment licence from Saudi Arabian General Investment Authority (SAFIA) according to Ibrahin bin Abdul Rahman Al-Omar, SAGIA Governor. and Manu Midha will head OYO’s operations in the region. The company has partnered with…

Juniper and Telefonica prepare for 5G roll out

Juniper Networks a leader in AI driven networks announced first phase of Telefonica UK’s successful services migration to the Telefonica UK Fusion Network, a brand new infrastructure for which Juniper Networks is the strategic IP network provider. both designed the Fusion Network to transform the customer experience for mobile, residential and business services globally. This…

Counting the cost of Thomas Cook collpase

Thomas Cook would have run out cash within days according to a court witness statement by its Chief Executive. The travel group was facing demands of almost £500m from a long list of hotel partners and creditors at the end of September 2019 according to insolvency documents filed by the company. It was left with…

Insolvency Service to probe into the collpase of Thomas Cook including fat-cat salaries by management

Andrea Leadsom, business secretary, wrote a letter to Dean Beale CEO of Insolvency Service has asked to launch a probe into the collapse include the role of management who were criticised for taking big salaries while overseeing the group’s decline. CEOs at Thomas Cook took home £18.7m of pay over the past 10 years, according…

David Cameron’s legacy and leadership overran by Eurosceptics

Former UK prime minister’s tenure as Conservative leader simply highlighted a warm-up act before another Bullingdon Club boy Boris Johnson, blagged his way to his days at the top. According to Johnson Cameron is genuinely clever and hard-working a “girly swot” but according to Cameron, Johnson who styles himself as the “Hulk” is a jealous…

Sundar Pichai urges regulators not to rush into AI crackdown

Google’s CEO, has warned politicians against a thoughtless regulation of artificial Intelligence arguing that existing rules may still be sufficient to govern the new technology. Sundar Pichai want “ smart regulation” that balanced innovation with protecting citizens, while many regulators are more interested in tackling Google over antitrust than AI, as Google is keen to…

Thomas Cook approached government for a £200m bailout

Thomas Cook has approached the UK government for a bailout to save itself from collapse after its lenders threatened to pull out of a proposed rescue deal. The travel group was locked in talks yesterday with multiple potential investors which include the government providing a lifeline of £200m as part of the demand from its…