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Drones begin delivering online shopping in the US

Drones begin delivering online shopping in the US

Technology
Drones have begun delivering online shopping in the US - with cold medication among the most popular items.Wing Aviation, which received federal approval earlier this year, is operating a trial in Christiansburg, Virginia. The company, owned by Google parent Alphabet, has beaten Amazon's Prime Air in the race to start using the technology.Wing is offering items from pharmacy chain Walgreens, FedEx and local gift shop Sugar Magnolia.One of the first customers, Susie Sensmeier, 81, said she had doubted such technology would "come in my lifetime". Advertisement "I'm thrilled," she said after a drone delivering a purple winter vest from Dicks Sporting Goods landed in her front garden. The first customers orderi...
Pound heads for two-year low as holidays begin

Pound heads for two-year low as holidays begin

Business
The pound is heading for two-year lows against the dollar as markets react to continuing Brexit uncertainty and signs that the UK economy is slowing.The currency fell sharply after data showed slowing sales at UK retailers and economists forecast a contraction in the economy in the second quarter.Against the dollar, the pound fell below $ 1.25 and was close to its lowest level since April 2017.The pound was also at a six-month low against the euro at just above €1.11.With the holiday season getting underway, it means travellers from the UK will getting fewer dollars and euros for their pounds.Sterling has been swayed by uncertainty in the aftermath of the EU referendum, but has been more stable in recent months because of confidence about the UK economy.H
Kotak to begin deploying money from two dedicated funds

Kotak to begin deploying money from two dedicated funds

Finance
MUMBAI: Kotak Investment Advisors, which manages about $ 3.5 billion worth of assets, is set to begin deploying the money it has raised in the last one month via two funds that are backed by Abu Dhabi Investment Authority (ADIA). “Big opportunity lies ahead in India in the distressed assets and commercial real estate space,” said S Sriniwasan, managing director, Kotak Investment Advisors. “While we are in advanced talks with loan assets that have not yet reached NCLTs, we have also identified two office properties in Bangalore and Hyderabad.” Sriniwasan said, “We have significant viability to deploy up to 20% of the capital raised over the next two to three months.” The advisory arm of Kotak group has mopped up over $ 1 billion through the two funds as t...