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Donald Trump and Theresa May meet amid Brexit storm

Donald Trump and Theresa May meet amid Brexit storm

Business
Theresa May and Donald Trump are holding talks at her country retreat Chequers, following his controversial comments on the PM's Brexit plan.In an interview with the Sun, Mr Trump said the PM's plan would "probably kill" any trade deal with the US.Mrs May wants to negotiate a UK-US deal with Mr Trump, who is visiting Britain as president for the first time.Meanwhile, a number of anti-Trump protests are due to take place.At one demonstration in Parliament Square, a giant inflatable of Mr Trump as a baby has been launched into the air. Some pro-Trump events are also planned.In his interview with the Sun, Mr Trump also said that former Foreign Secretary Boris Johnson - who disagrees with the PM on Brexit and resigned this week - wou...
Brexit services plan will speed up relocation, says Lloyd's boss

Brexit services plan will speed up relocation, says Lloyd's boss

Business
Media playback is unsupported on your device The Lloyd's of London chief says the government's plan for relations with the EU after Brexit will speed up the departure of firms from the UK.Inga Beale told the BBC the White Paper would see the 300-year old insurance market go "full speed ahead" to set up its subsidiary in Brussels - and spur others on as well. Service sector groups say the plan will affect employment and is a "real blow".However, non-services groups were more positive.Services, including banks, insurance companies and investment firms, make up 80% of the UK economy and are one of its most successful exports to the EU.The government wants UK financial services in future to adopt a beefed-up version of a system already used by cer...
Ahead of earnings, Weatherford sells off Middle East rigs

Ahead of earnings, Weatherford sells off Middle East rigs

Business
July 12 (UPI) -- Ahead of its second quarter earnings report, drilling services company Weatherford said it sold off Middle East assets for $ 287.5 million. A regional subsidiary of Weatherford International sold off its drilling operations in Algeria, Kuwait and Saudi Arabia, along with two idled land rigs in Iraq, to regional services provider ADES International Holding for $ 287.5 million. Through the agreement, ADES more than doubles its payroll count and adds 31 rigs and related contracts to its portfolio. "This landmark transaction significantly expands ADES' total fleet and more than doubles its operational fleet, in line with our strategy of executing smart acquisitions, alongside building our backlog and participation in tenders," ADES CEO Mohamed Farouk said in a statement. ADE...
Facebook scandal: Who is selling your personal data?

Facebook scandal: Who is selling your personal data?

Business
Offering handy parenting tips and £200 worth of vouchers, Emma's Diary may have seemed like the perfect website for new parents to sign up to.But in exchange for free nappies, they also gave consent for their data to be used for a mix of advertising purposes.It has now emerged that the data was sold to the Labour Party in 2017, even though the consent did not extend to political parties.The site now faces a fine for misuse of personal data.The case is part of the Information Commissioner's inquiry into political digital marketing, following the Cambridge Analytica data scandal.What began with a look at the misuse of Facebook data has now has opened a window on the complex ecosystem of online advertising, and thrown light on...
Murdoch's Fox increases Sky bid to £24.5bn in takeover battle

Murdoch's Fox increases Sky bid to £24.5bn in takeover battle

Business
Rupert Murdoch's 21st Century Fox has increased its offer for UK broadcaster Sky to £24.5bn, topping a previous offer from rival bidder Comcast.US media giant Comcast made a £22bn offer for Sky in February, trumping a previous offer from Fox, which valued Sky at £18.5bn.Fox is expecting to get regulatory approval from Britain this week for the deal.Fox said Sky's independent committee had agreed the deal.Fox has been trying to get approval from UK regulators since 2016 to buy the 61% of Sky it does not own already.The bid was held up by fears that it could give Mr Murdoch too much power over UK media.Fox has been trying to address those concerns through concessions, including selling Sky News to Disney once the deal is complete.In June, ...