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Automotive 04-06-2018

Uber done in Turkey, says Erdogan

Turkey appears set to side with its nation’s taxi drivers and push ride hailing giant Uber from the country. Following widespread pressure from taxi drivers, unhappy about Uber taking a slice of their business, president Recep Tayyip Erdogan has come out with a statement indicating the government would push Uber from the market. “This thing […]

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Automotive 04-06-2018

UK car manufacturing on the rise

Data released by the Society of Motor Manufacturers and Traders (SMMT) showed an increase in UK car production for the month of April, up 5.2% on the same period last year. The data showed a 103,662 cars built for British markets, and 24,290 for export. The figures represent year-to-year growth of 7.3% and 4.7% in […]

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Banking 04-06-2018

CYBG offers improved bid in potential Virgin Money merger

CYBG plc, owner of Clydesdale Bank and Yorkshire Bank, has sent through an improved offer for the purchase of Virgin Money. After an offer made last month that would give a 36% stake for Virgin Money shareholders in the new entity, a new approach has increased that figure to 38%. The offer comes on the […]

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Business 04-06-2018

Approval for Mothercare’s rescue package – 50 stores to close

A company voluntary arrangement (CVA) has been given the green light by Mothercare creditors, as the company moves forward in refinancing efforts. The CVA will see the closure of 50 underperforming branches, out of 137 total, by June 2019. The move is part of a plan to restructure operations in the UK, as Mothercare hope […]

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Banking 04-06-2018

TransferWise and BPCE ink lucrative partnership

Online money transfer provider TransferWise has taken a large step forward in its ambitions to tap into mainstream banking. The European fintech company has secured a partnership with Banque Populaire and Caisse d’épargne (BPCE). The deal with France’s second largest bank, which will commence from the start of 2019, will involve the integration of TransferWise’s […]

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Business 04-06-2018

Questions for Visa Europe boss following service failure

Many customers were left irate on a busy Friday afternoon last week, as Visa payments failed across the UK and Europe. Now chief executive of Visa Europe, Charlotte Hogg, is facing heat from UK parliament over the outage, which left countless shoppers unable to complete purchases and travellers stranded during Friday’s rush hour. Desperate customers […]

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Finance News 04-06-2018

Positive signs for Ripple as crypto markets enter green

Following an uneventful week, all the major cryptocurrencies are beginning this period with signs of growth. At the weekend’s close, all major coins were trending upwards, with Bitcoin sitting around $7,700 (£5760) and Ethereum at $620 (£464). It is the market’s 3rd highest in market cap, Ripple (XRP) which is showing encouraging movement, indicating it […]

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Business 04-06-2018

Everything Must Go: Toys R Us liquidating following closure

One of the world’s most recognisable toy store chains, Toys R Us has begun their top to bottom liquidation after closing all their US stores earlier this year. The retailer filed for bankruptcy in March, electing to shut down operations due to $7.9 billion debts owing. This came after the 2005 purchase of the company […]

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Healthcare 02-06-2018

Antibiotic supply chain crisis emerging

Antibiotic shortages may be imminent for many nations, warns a report from the Access to Medicine Foundation (AMF). “Antibiotic supply is patchy, complex and at risk of collapsing,” said the authors from the Dutch-based organisation. Supply chain complexities contributed to low transparency and accountability, as a result hampering volume and quality of medication. As antibiotics […]

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Business 02-06-2018

PMI shows UK manufacturing growth for May

British factories showed positive growth results in the most recent PMI manufacturing survey. Despite hitting the lowest mark in 17 months this March, May’s report put growth at 54.4, a slight increase from the 53.9 recorded for April. The month’s result was the 22nd month with a positive growth score since 2016’s Brexit vote. The […]

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