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Business & Entrepreneurship

Jaguar Land Rover to open R&D center for automated tech in Ireland

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JLR said last year that all its new cars would be available in an electric or hybrid version from 2020 and is building its first fully electric model, the I-PACE, in Austria, which will go on sale in 2018.The company said it had selected Shannon, in western Ireland, as it is a globally recognized center of excellence for software engineering talent. “The new facility provides an exciting opportunity for us to pioneer future autonomous and electrification technologies,” said JLR’s Executive Director of Product Engineering Nick Rogers. ”The... Read More »

Lloyd’s of London to open Brussels unit in early 2019: CEO

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Lloyd’s has been among the most vocal financial businesses on the need for a European Union subsidiary if Britain has no access to the single market after leaving the bloc and is one of the first to announce such a move. Lloyd‘s, which started life in Edward Lloyd’s coffee house in 1688, houses more than 80 syndicates in a building in the City of London. Its syndicates focus on specialist insurance and reinsurance in anything from oil rigs to athletes’ legs. The venerable insurance market said last March that it had chosen Brussels as the si... Read More »

Luxury group Kering to spin off Puma to its own shareholders

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Kering said on Thursday it planned to distribute 70 percent of Puma shares to its investors, leaving it with only a 16 percent stake, confirming an exclusive Reuters report. Puma shares were down 4.4 percent at the close as some investors worried about the company losing a powerful backer. Kering stock was down almost 1 percent. The deal comes after a recent turnaround at Puma, which struggled for years following Kering's 5.3 billion euros ($6.4 billion) purchase in 2007. The French firm, meanwhile, has long wanted to focus purely on its hig... Read More »

Iceland supermarket chain aims to be plastic free by 2023

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Prime Minister Theresa May has called plastic waste "one of the great environmental scourges of our time". Iceland says the move will affect more than a thousand own label products. As a first measure, the grocer says new food ranges being launched in February will be packaged using a paper based tray, rather than plastic. "Iceland's pledge will help cut down the one million tonnes of plastic generated by supermarkets in the UK each year," a company spokesman said. "The process to do this starts now, and Iceland is aiming to complete it w... Read More »

London home sellers slash prices at biggest rate since financial crisis

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The prices that London home-sellers are seeking for their properties fell by the most since the financial crisis this month, at a time when prices in most of the rest of Britain are rising, industry figures showed on Monday. London’s once red-hot housing market has slowed for the past year due to a double hit from higher purchase taxes on expensive homes and the June 2016 Brexit vote, which hurt demand from foreign buyers and raised fears of big job losses in the capital’s financial industry. Rightmove, Britain’s biggest property website,... Read More »

Facebook’s alternative news feed might make it more ‘meaningful’ – but it’s all about business

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On the face of it, the decision may seem like corporate suicide. Why would Facebook, one of the world's most powerful companies, deliberately harm engagement with its own product? The answer, critics suggest, may lie beyond Zuckerberg's stated desire to "fix" Facebook, and in fact be a smart business decision. The proposed changes include drastically altering the news feed, filtering posts from publishers so they no longer distract from those shared by friends and family. The Facebook chief executive says this will encourage more "meaning... Read More »

Toymaker Lego teams up with Chinese internet giant Tencent

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Privately-owned Lego has seen a slowdown in sales growth in recent years, but the Chinese market has been a bright spot with sales growing 25-30 percent in 2016. It is competing with Barbie maker Mattel Inc (MAT.O) and Hasbro (HAS.O), the firm behind My Little Pony, for a slice of the $31 billion toys and games market in China. Lego said on Monday the partnership with Tencent, China’s biggest social network and gaming company, aimed to create a safe online environment covering content, platforms, and experiences tailored for Chinese children... Read More »

Apple: Chinese firm to operate China iCloud accounts

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It has contacted customers based in China, advising them to examine new terms and conditions. They include a clause that both Apple and the Chinese firm will have access to all data stored on iCloud. Apple said it had made the move to comply with the country's cloud computing regulations. iCloud accounts registered outside of China are not affected. 'Strong data privacy' The Chinese cyber security rules, introduced in July last year, include a requirement for companies to store all data within China. The firm, Guizhou on the Cloud Big Data (G... Read More »

Google quietly buys UK startup Redux that turns surfaces into speakers

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Alphabet’s Google has quietly acquired a UK startup focused on technology that turns surfaces such as phone displays into speakers. Redux developed technology that eliminates the need for small speakers in mobile phones, freeing up space for batteries or other components, the Cambridge based startup said on its now defunct website. It is unclear when Alphabet -- via an Ireland-based subsidiary of Google -- acquired Redux, but the transfer of shares of Redux holding company NVF Tech to the US tech giant was confirmed on December 13, according... Read More »

Bitcoin: Warren Buffett warns cryptocurrency craze ‘will come to a bad ending’

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Warren Buffett isn’t buying the cryptocurrency craze. “I can say with almost certainty that they will come to a bad ending,” the Berkshire Hathaway CEO said during an interview with CNBC. As the price of bitcoin surged to a record high of nearly $20,000 (£14,800) in December, the alternative currency — and the idea of cryptocurrencies in general — generated intense interest from both amateur investors and from institutions like Goldman Sachs, which reportedly is setting up a cryptocurrency trading desk. Mr Buffett, known for his often-pre... Read More »

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