News

Uber dealt blow in California over ’employee’ driver

  An Uber driver in California has been deemed an employee, not a contractor, in a ruling that could mean higher costs for the app-based taxi service. The decision by the California Labor Commission means the driver must be awarded more than $4,000 (£2,544) of expenses for the period she worked. If applied more widely it could mean extra costs ... Read More »

Earlier end to subsidies for new UK onshore wind farms

  New onshore wind farms will be excluded from a subsidy scheme from 1 April 2016, a year earlier than expected. There will be a grace period for projects which already have planning permission, the Department of Energy and Climate Change said. But it is estimated that almost 3,000 wind turbines are awaiting planning permission and this announcement could jeopardise ... Read More »

Tata Starbucks says it’s pulling out rejected ingredients

The move comes six days after The Indian Express reported that products used by a number of top brands, including Tata Starbucks figured on a list of around 500 rejected products prepared by the national food safety regulator. TATA Starbucks announced on Monday that it was “suspending” the use of ingredients whose product approvals were rejected by the Food Safety ... Read More »

Fitbit valued at $4.1bn after raising flotation price

Fitbit is going public amid rising interest and competition in the wearable devices market Wearable tech company Fitbit has garnered a valuation of more than $4bn (£2.5bn) after selling shares in its initial public offering (IPO). Fitbit raised $732m after pricing its shares at $20 each, having increased the size and price range for a second time due to strong ... Read More »

A friend remembers Charles Correa: From a child with toy train to the origami artist in stone

  Charles Correa’s favourite story was about Hornby trains. I had one as a child, so I knew what he was talking about. This was a miniature train made by a British company called Hornby. It had a locomotive, carriages and a set of inter-locking rails, both straight and curved. You could make a loop, or lay the track so that ... Read More »

The Federal Reserve moves towards a rate rise this year

The US Federal Reserve is moving towards an interest rate rise later this year. It would be the first increase since the rate was cut to near zero during the 2008 financial crisis. However, the bank said conditions in the labour market and inflation did not yet warrant an increase. In a press conference the Fed chair Janet Yellen said ... Read More »

Greece debt deal still possible says Angela Merkel

German Chancellor Angela Merkel says she is “still convinced” that a Greek debt deal is possible. She said she thought Greece could reach an agreement with its creditors – the EU, the International Monetary Fund and the European Central Bank. Mrs Merkel also told the Bundestag that Germany was working hard to keep Greece in the euro, but said Athens ... Read More »

Story of IPL’s Lalit Modi days: A hotel bill amounting to Rs 1.56 crore and a guest list of top politicians

From January 1 to April 30, 2010, the IPL chairman made the ‘Club’ suite of the Four Seasons Hotel in Mumbai his base, instead of operating from the BCCI office in the same city. A hotel bill amounting to Rs 1.56 crore that the BCCI refused to pay in 2010 tells the story of IPL’s Lalit Modi days, with a ... Read More »

Hong Kong lawmakers reject Beijing poll plan

  Pro-government lawmakers walked out of the council chamber moments before the vote was to take place. The reforms would have given China the right to vet candidates in the election of the territory’s leader. The divisive plan sparked mass protests with pro-democracy activists labelling it “fake democracy”. After the pro-China legislators walked out of the chamber, the 37 lawmakers ... Read More »

Micromax Canvas Sliver 5 claims to be thinnest, lightest phone ever; will cost Rs 17999

Micromax, the only Indian company that finds itself in the top of global mobile phone makers, has announced the launch of its new flagship, the Canvas Sliver 5. The company calls it the thinnest phone ever with a 5.1mm thickness end to end, with no thicker bumps. The Canvas Sliver 5 is priced at Rs 17,999. The phone weighs just ... Read More »