Uber’s chief executive is among 30 charged with operating illegal taxi ring in South Korea March 18, 2015 Uber has come under fire for operating an “illegal taxi ring” in South Korea. According to Yonhap News Agency, Seoul District Police have charged 30 people associated with the company, including chief executive Travis Kalanick. Others range from Uber Korea's brand manager to the heads of car rental companies and a number of drivers. [...]
Falling oil prices have caused hundreds of job losses at Nexen in the UK and US March 18, 2015 Tumbling oil prices have resulted in job losses at the US and UK branches of Chinese energy firm Nexen Energy. The company announced plans to cut 400 jobs in the US and UK this morning. Broken down, 340 employees will be lost from the North American operation in Calgary, while 60 jobs will be lost [...]
Benjamin Netanyahu has won Israel’s election, and he could easily become the country’s longest-serving Prime Minister March 18, 2015 Benjamin Netanyahu's right-wing Lukid party has won the Israeli election, now occupying 30 out of 120 seats in the Knesset. Its main rival, the centre-left Zionist Union, fell some way behind with 24 seats, according to Israeli media. If Netanyahu is able to put together an acceptable right-wing coalition with other parties, he will [...]
China’s Asian Infrastructure Investment Bank: Which countries are members? March 17, 2015 Today, France, Italy and Germany all confirmed they were becoming members of the Chinese-led Asian Infrastructure Investment Bank (AIIB) – a move that is likely to irritate the US. The bank was set up by Beijing last year in what some consider an attempt to rival west-centric financial institutions set up after the Second World [...]
Budget 2015: This is how Londoners will benefit if there’s another beer duty cut March 17, 2015 George Osborne's decision on whether to change the tax paid on beer will be a hot topic tomorrow. There has been a 40 per cent increase in beer duty since 2008, and a third of what we pay for one pint of beer now goes to the government. Meanwhile, beer's popularity has fallen in the [...]
Good Energy profits down as warm weather takes its toll March 17, 2015 Good Energy revenues and customer numbers rose last year, but profits were held back by warm weather. The figures During the 12 months to 31 December, Good Energy's pre-tax profits declined by 33 per cent to £2.2m. The company put this down to “challenging trading conditions resulting from the warmest year since records began”, as [...]
Just Eat had a great 2014, and this year is looking just as good as international expansion continues March 17, 2015 Just Eat had a year of growth, with users, revenue and orders reaching new heights. The figures Just Eat's revenue for the year ended 31 December was £157.0m, marking a 62 per cent increase from 2013's figure of £96.8m. This was driven by a 52 per cent increase in orders and a 37 per [...]
Senior bankers could go to jail for seven years under new FCA rules March 16, 2015 Senior bankers could face up to seven years in prison under new rules revealed by the Financial Conduct Authority (FCA) today. Following a series of scandals such as Libor and Forex, the financial watchdog has changed the legal requirement for punishment from “innocent until proven guilty” to “presumption of responsibility”. This means bankers will [...]
Flying cars are coming with the AeroMobil 3.0, and you could buy one in 2017 March 16, 2015 In a couple of years, the super-rich could be travelling above traffic jams and avoiding the hassle of airports in their very own flying cars. For everyone else, the equivalent of a flying Uber is in the pipeline. AeroMobil, the Slovakian company behind the car-cum-aeroplane, hopes to sell its first manually-driven two-seater flying cars to [...]
