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  • 'Unfit' Uber stripped of London license

    September 22, 2017 3:47 PM 3

    LONDON (Reuters) - London deemed Uber unfit to run a taxi service on Friday and stripped it of its license to operate from the end of next week in a major blow to the U.S. firm and 3.5 million users in one of the world’s wealthiest cities. The capital’s transport regulator said the Silicon Valley technology giant’s approach and conduct was not fit and proper

  • Uber stripped of London license, plans to appeal

    September 22, 2017 2:27 PM 3

    LONDON (Reuters) - London stripped Uber on Friday of its license to operate from the end of next week in a huge blow to the taxi service and 3.5 million users in one of the world’s wealthiest cities. The capital’s transport authority said the Silicon Valley technology giant was not fit and proper to hold a private vehicle hire license and it would not be renewed

  • Africa: Afreximbank to Mobilise U.S.$1 Billion for Region's Trade

    September 22, 2017 11:51 AM 1

    Multilateral trade financier African Export-Import Bank (Afreximbank) is seeking to mobilise up to $1 billion in equity from new and existing investors over the next five years to finance more trade deals on the continent. The bank hopes to disburse $90 billion for industrialising Africa, boosting trade among countries as well as with the world in an era of rising

  • Uber has lost its licence to operate in London

    September 22, 2017 11:34 AM 1

    Uber has lost its licence to operate in London, the capital's transport regulator has said. Transport for London (TfL) announced that Uber would not be issued with a private hire operator's licence once its current licence is up on 30 September. It's a major blow for the ride-hailing company, which is hugely popular among Londoners. The city is its biggest

  • Google and HTC enters a $1.1 billion cooperation agreement

    September 21, 2017 7:30 AM 1

    Google and HTC Corporation has entered into a definitive agreement under which certain HTC employees – many of whom are already working with Google to develop Pixel smartphones – will join Google. HTC will receive USD 1.1 billion in cash from Google as part of the transaction. Separately, Google will receive a non-exclusive license for HTC intellectual

  • Google bets anew on smartphones, pays $1.1 billion for HTC's Pixel division

    September 21, 2017 7:29 AM 1

    TAIPEI/SAN FRANCISCO (Reuters) - Alphabet Inc’s Google said it would pay $1.1 billion (816 million pounds) for the division at Taiwan’s HTC Corp that develops the U.S. firm’s Pixel smartphones - its second major foray into phone hardware after an earlier costly failure. The all-cash deal will see Google gain 2,000 HTC employees, roughly equivalent to one fifth

  • Petra Diamonds Given Overweight Recommendation from J P Morgan Chase Co

    September 20, 2017 11:42 AM 1

    J P Morgan Chase & Co reaffirmed their overweight recommendation on stocks of Petra Diamonds (LON:PDL) in a study note study research released on early Tue, Sep 12th, . Firm has a GBX 140 ($1.89) price objective on the company shares. Stocks of Petra Diamonds (PDL) started trading at 71.00 on early Tue. the firms valuation is GBX 373.99 M. Petra Diamonds

  • Gem Diamonds has unveiled a 115-carat, high-quality diamond from its Letseng mine

    September 19, 2017 10:47 AM 6

    Gem Diamonds has unearthed its sixth diamond of more than 100 carats this year from its Letseng mine in Lesotho, southern Africa. Shares in the London-listed miner lifted 1.37 per cent to 71.97p in morning trading after it unveiled its high-quality 115 carat, D-colour, or near colourless, Type IIa diamond. Gem Diamonds owns 70 per cent of the Letseng

  • World Bank cuts South Africa's 2017 growth forecast

    September 19, 2017 10:18 AM 5

    JOHANNESBURG (Reuters) - The World Bank on Tuesday halved its 2017 growth forecast for South Africa after the economy fell into recession earlier this year. It said in a report that 2017 growth would probably be 0.6 percent, down from an earlier estimate of 1.1 percent. Growth is seen ticking up to 1.1 percent next year and reaching 1.7 percent in 2019. But the bank warned

  • Egypt knocks SA from top investment spot in Africa – RMB report

    September 19, 2017 7:06 AM 6

    Egypt has knocked South Africa from its long-standing top spot regarding investments in Africa, according to Rand Merchant Bank’s latest Where to Invest in Africa report for 2018, released on Monday. This is the first time SA has not been in top spot since the report was initiated seven years ago. Nigeria, on the other hand, has for the first time not featured