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UK economy probably shrank for first time in seven years

The UK economy probably shrank for the first time since 2012 in the second quarter, according to Bloomberg’s latest survey of economists. The prediction for a 0.1% contraction marks a downgrade from June, when economists only predicted stagnation. The survey came as retail industry reported another drop in sales and said “the picture is bleak.”Second Quarter Slowdown Economists predict the ...

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British Airways faces record £183m fine for data breach

British Airways is facing a record fine of £183m for last year’s breach of its security systems. The airline, owned by IAG, says it is “surprised and disappointed” by the penalty from the Information Commissioner’s Office (ICO). At the time, BA said hackers had carried out a “sophisticated, malicious criminal attack” on its website.The ICO said it was the biggest ...

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UK recession fears mount amid Brexit and global slowdown

Photo: In this May 2, 2019, file photo Mark Carney the Governor of the Bank of England speaks during an Inflation Report Press Conference at the Bank of England in the City of London. London, Jul 3 : The British economy appears to be showing signs of falling into recession as uncertainty over Brexit combines with a less benign global ...

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UK seeks new no-deal Brexit freight plan

London, Jul 1 : Transport companies are being asked to bid to provide extra freight capacity to be used in the event of a no-deal Brexit on 31 October reports BBC. The hurried ferry procurement process as the UK prepared to leave the EU on 29 March cost taxpayers more than £85m. That included £34m in a settlement and legal ...

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Boeing suffers new 737 Max issue that could delay return

US regulators have uncovered a possible new flaw in Boeing’s troubled 737 Max aircraft that is likely to push back test flights. The Federal Aviation Administration (FAA) said it identified the “potential risk” during simulator tests, but did not reveal specific details. Boeing’s top-selling aircraft was grounded in March after two crashes.The company is upgrading the aircraft’s anti-stall software, which ...

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Huawei loses trade-secret case

Photo: In this May 29, 2019, file photo, a woman walks by a Huawei retail store in Beijing. Dallas, June 27 : A Texas jury ruled Wednesday that Chinese technology giant Huawei stole trade secrets from a Silicon Valley startup, but jurors declined to levy damages, saying Huawei didn’t benefit from the theft. The jury in US District Court in Sherman, ...

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Taka 130cr revenue collected from ‘Gold Tax Fair’

National Board of Revenue (NBR) has collected around Taka 130 crore as revenue from ‘Gold Tax Fair’ held in all divisional cities, including Dhaka and Chattogram. In the fairs, jewelers legalized about 13 lakh bhori undisclosed stocks of gold and 1000 carat diamond and 500 Bhori silver. NBR and Bangladesh Jewelers Samity (BAJUS) jointly organised the fair for the first ...

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Average US price of gas drops 11 cents per gallon to $2.73

Camarillo, Jun 24 : The average U.S. price of regular-grade gasoline dropped 11 cents per gallon (3.8 liters) over the past two weeks, to $2.73. Industry analyst Trilby Lundberg of the Lundberg Survey says Sunday that lower crude oil prices contributed to the drop at the pump. Oil prices rose last week, however, because of tensions between the United States ...

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UK businesses look for opportunities in Bangladesh

Representational image Dhaka, Jun 18 : A delegation of British-Bangladeshi businesspersons is exploring investment opportunities in Bangladesh. The areas being explored include ICT, garments, manufacturing, infrastructure, engineering, construction, logistics, banking, financial services and other consumer sectors. A 23-member trade mission by the UK Bangladesh Catalysts of Commerce & Industry (UKBCCI) visited BIDA’s offices on Tuesday. The mission hopes to further ...

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