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Uber rocked by fresh boardroom power struggle

Uber rocked by fresh boardroom power struggle

Technology
Former Uber CEO Travis Kalanick has sparked a power struggle at the company by unilaterally naming two new directors to the board.Mr Kalanick announced the appointments in a statement on Friday without consulting the new chief executive or the rest of the board.He brought in Ursula Burns, the former CEO of Xerox, and John Thain, the former CEO of Merrill Lynch, to sit at Uber's big table.The appointments were made ahead of a planned vote on Tuesday to restructure the corporate governance of the company, and "came as a complete surprise to Uber and its board", the company said.The move is being seen as indicative of the continuing power struggle which saw Mr Kalanick step down as the firm's CEO in June.Uber's largest shareholder, Benchmark, has taken legal action against him, challenging hi...
North Korea: UN backs fresh sanctions over missile tests

North Korea: UN backs fresh sanctions over missile tests

World
Media playback is unsupported on your deviceThe United Nations Security Council has agreed on fresh sanctions against North Korea over its missile programme.A resolution banning North Korean exports and limiting investments in the country was passed unanimously.The US ambassador to the UN, Nikki Haley, said it was "the most stringent set of sanctions on any country in a generation".Pyongyang tested two intercontinental ballistic missiles in July, claiming it now had the ability to hit the US.However, experts doubt the capability of the missiles to hit their targets.The tests were condemned by South Korea, Japan and the US, and prompted the drafting of the new UN sanctions.N Korea: 'All US within missile range'North Korea's missile programmeThe export of coal, ore and other raw materials to...
Trump Russia: US Congress reach deal on fresh sanctions

Trump Russia: US Congress reach deal on fresh sanctions

World
Media playback is unsupported on your deviceLeaders of both parties in the US Congress have agreed on legislation that allows fresh sanctions to punish Russia for alleged election meddling.The new legislation would also sharply limit President Donald Trump's ability to lift any sanctions against Russia.He has previously said he needs diplomatic leeway with the Kremlin.Mr Trump's time in office has been dogged by claims that Russia tried to influence last year's US election.Moscow denies any wrongdoing but several US investigations are looking into whether anyone in the Trump campaign colluded with Russian officials.Correspondents say the bipartisan agreement indicates determination in Congress to maintain a firm line against Russia, whatever Mr Trump's view. Russia: The 'cloud' over the Tr...
Nominated banks not taking fresh orders for gold imports till GST clarity emerges on July 1

Nominated banks not taking fresh orders for gold imports till GST clarity emerges on July 1

Finance
MUMBAI: The $ 5 an ounce discount in the gold market has reduced sharply as bullion banks have stopped importing on consignment basis until clarity emerges on GST treatment over such imports, claimed a Kolkata based bullion dealer. "Banks prefer to wait and see until after July 1 when GST kicks in," said Harshad Ajmera, Kolkata based bullion dealer. "Till then they are not taking any fresh orders." Banks have represented "issues" that "merit clarity" through various industry bodies like India Bullion & Jewellers Association (IBJA) to the government, said Shekhar Bhandari, business head , global transactions banking and precious metals, Kotak Mahindra Bank . However, temporary stoppage of fresh imports has not created a supply crunch as the monsoon season is traditionally a low dem...