The estate of tech tycoon Mike Lynch – who died last year when his yacht sank – and his business partner owe tech giant Hewlett Packard Enterprise (HPE) over £700m, the High Court has ruled. HPE bought Mr Lynch’s tech firm Autonomy in 2011, but it says Mr Lynch and Autonomy’s former chief financial officer,…
US soft drink giant Coca-Cola says it plans to introduce a new Coke sweetened with cane sugar to its existing line-up , confirming a plan that President Donald Trump previewed last week. The company already uses regular sugar to sweeten its signature Coke drink in many parts of the world, but in the US it…
More than 278,000 consumers hit with Rs47.81bn inflated bills in one month An official audit has revealed that eight electricity distribution companies (Discos) defrauded consumers of hundreds of billions through inflated billing, deepening the financial strain on financially-burdened households across the country. According to the Auditor General of Pakistan’s latest report, these companies overbilled consumers…
Benchmark index climbs 1,684.19 points, or 1.22%, rising to an intraday high of 139,901.7 A bullish momentum returned to the bourse on Tuesday, as military assurances, upbeat economic data, and easing policy expectations reignited investor optimism. “Stocks trading at a new all-time after business leaders meetup with Field Marshal Munir assured military’s support for economic…
A Wells Fargo banker has been blocked from leaving China due to a criminal matter, the country’s foreign ministry has confirmed. Chenyue Mao “is involved in a criminal case currently being handled by Chinese law-enforcement authorities and is subject to exit restrictions in accordance with the law”, ministry spokesman Guo Jiakun told a press briefing…
When Jared first started out in trucking more than two decades ago, he didn’t anticipate he’d be on tour with a country music star, hauling guitars, amps, and other pieces of on-stage equipment. “It just happened, right place, right time,” the Canadian driver, who prefers not to use his surname, explains from behind the wheel…
Universal Music Group’s (UMG) – which is the world’s biggest music group and owner of the record labels behind mega stars Taylor Swift, Drake and Lady Gaga – has filed to sell its shares in the US. The company, which is already listed in the Netherlands, has a stock market valuation there of almost €50bn…
Expert says recent rally led by banking stocks as investors feel banks dividend to remain attractive KARACHI: The Pakistan Stock Exchange closed lower on Tuesday after briefly crossing the 137,500 mark in intraday trade, as profit-taking by investors pulled the benchmark KSE-100 index down. The PSX benchmark index closed at 135,939.87 points, down 562.66 points,…
Starbucks has told its corporate staff they must work in the office for four days a week or take a payment and quit. Workers will be expected to be in the office between Monday and Thursday starting in October, up from a previous requirement that staff come in for three days. The directive is the…
In the Oval Office on Monday, Donald Trump was talking tough, announcing new US arms shipments to Ukraine paid for by European governments, and threatening new tariffs which, if imposed, would hit Russia’s war chest. But, back in Moscow, how did the stock exchange react? It rose 2.7%. That’s because Russia had been bracing for even tougher…
