News That Matters

Tag: Group

More firms quit Facebook’s proposed Libra global digital currency group

More firms quit Facebook’s proposed Libra global digital currency group

Technology
Facebook's proposed global digital currency has suffered a setback after major payment companies including Mastercard, Visa and eBay pulled out.Stripe and Latin American payments company Mercado Pago also announced they were leaving. Visa confirmed they had pulled out, adding: "We will continue to evaluate and our ultimate decision will be determined by a number of factors, including the association's ability to fully satisfy all requisite regulatory expectations." Image: US payments processing firm PayPal has left Libra It comes just days after US payments processing firm PayPal pulled out.Facebook's head of the project David Marcus said people should not be "reading the fate of Libra into this update", although he admitted it was "n...
SC seeks NBCC response on completing stalled Jaypee group projects

SC seeks NBCC response on completing stalled Jaypee group projects

Finance
The Supreme Court on Tuesday sought response from the NBCC on whether it is willing to give a revised proposal to complete the stalled projects of Jaypee group. A bench of justices A M Khanwilkar and Dinesh Maheshwari issued notice to the National Buildings Construction Corporation Limited (NBCC) and sought its reply by Thursday. Additional Solicitor General Madhavi Divan, appearing for the Centre, said the government has held three meetings with various stakeholders and a decision has been taken that it was willing to give tax concession running into hundreds of crores to Jaypee group and enhanced compensation to farmers only if the NBCC is allowed to complete the stalled projects. Senior advocate F S Nariman and Anupam Lal Das, appearing for the Jaypee group, said they have no objection ...
Business lobby group CBI says UK not ready for no-deal Brexit

Business lobby group CBI says UK not ready for no-deal Brexit

Business
The Confederation of British Industry (CBI) has warned the government that neither the UK or EU is ready for a no-deal Brexit on 31 October."While the UK's preparations to date are welcome, the unprecedented nature of Brexit means some aspects cannot be mitigated," said the CBI.It has published practical steps it says the UK, EU and firms can take.A government spokesman said the UK has increased the pace of planning for no-deal.The CBI had previously said leaving the EU with a deal was essential to protect the economy and jobs.New prime minister Boris Johnson has made Michael Gove responsible for planning a no-deal Brexit.Mr Gove has said the UK government is currently "working on the assumption" of a no-deal Brexit.He said his team still aimed to come to...
Chinese ethnic group biggest earners in the UK

Chinese ethnic group biggest earners in the UK

Business
Chinese and Indian ethic group workers have higher average earnings than their white British counterparts, the first official figures on the issue show.But the data on the ethnicity pay gap, showed all other ethnic groups have lower wages than white British workers.The Office for National Statistics said employees in the Bangladeshi ethnic group have the largest pay gap, earning 20% less than white British employees.On average, ethnic minorities earn 3.8% less than white ethnic groups.The categories are the official ones used by ONS.Hugh Stickland, senior ONS analyst, said: "Overall, employees from certain ethnic groups such as Indian and Chinese, have higher average earnings than their white British counterparts. "However, all other ethnic groups have av...
NATO’s standing maritime group arrives for exercises in Black Sea

NATO’s standing maritime group arrives for exercises in Black Sea

Business
July 5 (UPI) -- NATO ships entered the Black Sea to conduct routine patrols and participate in a massive show of force exercise in Ukraine. Led by the flagship HMCS Toronto, a Royal Canadian Navy frigate, the Standing NATO Maritime Group Two arrived at the Black Sea on Wednesday. They were joined by the Turkish frigate TCG Turgutris, the British frigate HMS Duncan and the Romanian frigate ROS Regele Ferdinand, all on their way to Sea Breeze 2019, a military exercise involving 32 warships, 24 aircraft and about 3,000 troops from 19 countries. The event is sponsored by the United States and Ukraine. Although not a NATO member, "Ukraine is a highly valued partner to NATO, contributing to NATO operations and regularly exercising together in a demonstration of Ukraine's strong commitment to i...