Netflix faces a new rival in the UK

UK television network ITV has teamed up with the BBC on a streaming product that gives British audiences a new alternative to Netflix. BritBox will debut in the final three months of this year, the networks announced Friday. For £5.99 ($7.50) per month, users will get access to older shows and new HD programming acr...

Crypto Coffee Coin Is Coming to Brazil's Countryside Farmers

Coffee farmers in Brazil’s countryside could be soon be using cryptocurrency for their day-to-day needs. A major arabica-bean cooperative, Minasul, is planning to this month launch a block chain-based digital coin that will be backed by coffee supplies. Farmer members will be able to use the “coffeecoin” to buy fertilizer, machinery and ot...

Softbank-backed Automation Anywhere eyes opportunities in UAE airline sector

Softbank-backed AI and robotics firm Automation Anywhere is in talks with a number of UAE-based airlines and telecom operators to provide software it says can boost productivity by undertaking mundane day-to-day tasks, according to Milan Sh...

Facebook $5 Billion U.S. Privacy Settlement Approved by FTC

U.S. officials approved a record $5 billion privacy settlement with Facebook Inc. to resolve the Cambridge Analytica data scandal, people said, prompting an immediate outcry from lawmakers and privacy advocates who said it didn’t go far enough. Although details of the settlement with the U.S. Federal Trade Commission weren’t announced, the f...

Total UAE banking reserves rise to over $81bn

Central Bank of the UAE says reserves have increased by $1.36bn in first five months. Total banking reserves at the Central Bank of the UAE totalled AED298 billion ($81.1 billion) by the end of May, a growth of AED5 billion during the past five months. The rise, accord...

Barclays to Cut 20% of Jobs in Dubai Wealth Management Business

Barclays Plc is cutting about 20% of jobs in its wealth management business in Dubai, according to people with knowledge of the matter. The layoffs will include senior positions and support staff within the division that employs about 100 members of staff and more cuts could be made, the people said, asking not to be identified because the plans...

Thomas Cook in £750m rescue deal talks

Troubled travel company Thomas Cook is in £750m rescue talks with banks and its largest shareholder, Fosun. The measures, which have not been finalized, would see the Chinese investor buy the firm's tour business. Thomas Cook's chief executive, Peter Fankhauser, said the proposal was "not the outcome any of us wanted" but insisted it was "pragm...

James Murdoch Makes Largest Deal Yet With Bet on Virtual Reality

James Murdoch, heir to billionaire media magnate Rupert Murdoch, has added the biggest reported investment yet to his closely watched portfolio: a bet on the virtual-reality provider called the Void LLC. Murdoch has invested $20 million in the business, according to a person familiar with the transaction. He’s also taken a seat on the board, s...

Ford and Volkswagen team up on self-driving and electric cars

Volkswagen and Ford announced plans Friday to work closely to develop electric- and self-driving vehicles, the latest automakers to partner in the face of massive changes rocking the auto industry. Ford (F) CEO Jim Hackett and Volkswagen (VLKAF) CEO Herbert Diess appeared together on Wall Street Friday, building on a...

UAE social media payments app Zbooni secures new funding

UAE-based tech app Zbooni, which enables retailers to conduct transactions with customers via social media and chat services, has closed its la...

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