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China’s Uber has plans to take on the rest of the world

You’ve probably already heard of China’s Didi Chuxing. It’s the ride-hailing firm best known for driving Uber off China’s streets. It is now also the world’s largest ride-hailing app, and with its worth currently at $56bn (£39.4bn), it is also the world’s most valuable start-up. But how much do you …

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Jaguar Land Rover to shed 1,000 contract staff

Jaguar Land Rover says it will not be renewing the contracts of 1,000 temporary workers at two factories. The UK’s biggest carmaker, owned by India’s Tata Motors, blamed “continuing headwinds” affecting the car industry. It said it was continuing to recruit large numbers of engineers and apprentices and it remained …

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Jaguar Land Rover’s diesel dependency

JLR was very exposed to the demise of diesel. Recent figures from the trade body showed sales of diesels fell a whopping 37% in March compared with the previous year. Unhappily for JLR, 90% of its vehicles are powered by diesel engines and there are critical industry voices that say …

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London Stock Exchange names David Schwimmer as new boss

The London Stock Exchange has appointed a new chief executive to replace Xavier Rolet, who quit last November amid a bruising boardroom row. David Schwimmer, who has spent 20 years at investment bank Goldman Sachs, will take up the post on 1 August. The stock exchange described him as “a …

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Trump threatens further $100bn in tariffs against China

US President Donald Trump has instructed officials to consider a further $100bn (£71.3bn) of tariffs against China, in an escalation of a tense trade stand-off. These would be in addition to the $50bn worth of US tariffs already proposed on hundreds of Chinese imports. China’s Ministry of Commerce responded, saying …

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Wells Fargo boss should be fired, says senator

Washington senators have criticised Wells Fargo, saying the US bank had not done enough to reform the corporate culture that led to the creation of millions of fake accounts. Senator Elizabeth Warren called for the chief executive, Tim Sloan, to be fired and board members replaced. Another senator asked if …

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‘More than 600 apps had access to my iPhone data’

While Facebook desperately tightens controls over how third parties access its users’ data – trying to mend its damaged reputation – attention is focusing on the wider issue of data harvesting and the threat it poses to our personal privacy. Data harvesting is a multibillion dollar industry and the sobering …

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Who is losing out from Trump’s tariffs?

The US-China trade dispute is starting to have consequences. US tariffs on foreign steel and aluminium went into effect last month. China’s retaliatory duties on more than 100 US imports, including pork, fruit and wine, kicked in soon after. Further tariffs on $50bn worth of the each country’s products are …

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British Airways owner considers Norwegian bid

The owner of British Airways may bid for Norwegian Air Shuttle, the fast-expanding budget airline. Buying the airline would allow International Airlines Group to increase its market share amid rising competition from low-cost carriers. Norwegian said it had not been aware that IAG had acquired a 4.6% stake until media …

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Facebook’s Zuckerberg to testify before US committee

Facebook’s chief executive Mark Zuckerberg is to testify before the US House Commerce Committee regarding the firm’s use and protection of user data. Facebook has faced criticism after it emerged it had known for years that Cambridge Analytica had harvested data from about 50 million of its users. He will …

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