As Lloyds Banking Group races to cut costs in anticipation of a cut in interest rates, it is set to axe 3,000 jobs and close 200 branches. Anticipated cuts to interest rates following the vote for Brexit last month and a fall in the use of branches by customers were the reasons behind the bank’s…
The past two years have seen a wave of consolidation weeping across the global semiconductor industry with many mergers and acquisitions through the world. This wave was again given a boost after the latest announcement by Analog Devices Inc that it would buy fellow chipmaker Linear Technology Corp for about $14.8 billion. Increase its share…
There were worries expressed by some analysts about whether Apple is selling too many of its lower cost iPhone SE model and needs to diversify its current portfolio of smartphones following the US tech company’s forecast-beating earnings that were announced on Tuesday. “Margins went down, they sold a lot more iPhones SE than they had expected…
Norway is now making waves when it comes to clean energy despite being a big player in fossil fuels. With hydropower a crucial part of the mix of clean energy sources, 98 percent of its “electricity production” comes from renewable sources, the Norwegian government has said. Norway is home to an abundance of natural resources…
China, Apple Inc’s biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats, was the palce where the US tech giant found itself on the receiving end of a small, short-lived anti-U.S. protest last week. In a rare instance of the tech firm being targeted as a symbol of…
Even though American’s say that the wastage of 130 billion pounds of food (PDF) makes them feel bad, they however don’t do anything about it. They are aware of the scale of this $160 billion (PDF) problem, said more than half the respondents in a new national survey. While 51 percent said it would be difficult to reduce…
A drone would hopefully help Facebook extend internet connectivity to every corner of the planet. The company expressed this hope after successfully completing a test flight of a solar-powered drone for this purpose. Chief Executive Mark Zuckerberg wrote in a post on his Facebook page that the test was conducted in Yuma, Arizona where Aquila,…
Signaling that the world’s biggest oil exporter will continue to protect its market share, the Saudi Arabia state-run producer’s chief executive officer said that the country’s oil and natural gas production and drilling activities are unaffected by crude prices at current levels. The sales of Saudi Arabian Oil Co., known as Saudi Aramco to buyers…
A scramble to get a piece of the action in the booming African market is being made by WeChat, China’s biggest Internet-based mobile messaging platform even though it is late to the party. As Facebook’s WhatsApp is already part of the social media fabric in most African countries, the move is leading the South Africa-China…
As General Motors continued to capitalize on strong sales of pickup trucks and sport utility vehicles in the United States and after reporting a record second-quarter profit, the forecast for its full-year profits was raised by the company in a statement on Thursday. Sending the company shares up as much as 4.4 percent, the earnings…
