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Xerox said it would take its proposal for a $33bn takeover of HP directly to the personal computer maker’s shareholders, escalating hostilities between the two companies. The declaration came after HP spurned Xerox’s approach and refused to open its books, although it has left the door open to acquiring its far smaller rival. “We plan
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Bricks-and-mortar retailers in the US are bracing themselves for a chilly end to the year under intensifying pressure from web-based rivals. Online shopping sales during the approaching holiday season will expand by 18.4 per cent from last year, according to IHS Markit estimates, far outpacing physical retailers like the big US department stores, where shoppers
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Ebay, which has come under pressure from activist investors this year, has struck a $4.05bn deal to sell its online ticketing subsidiary StubHub to rival reseller Viagogo.  The all-cash deal will see Eric Baker, the chief executive of privately held Viagogo, reunited with StubHub, which he co-founded in 2000.  It came after eBay conceded in
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As Infosys prepared to welcome analysts to its sprawling Bangalore base this month for the first time since being rocked by damaging whistleblower allegations, the embattled information technology company put on a defiant show of unity. Chairman Nandan Nilekani didn’t mince his words in publicly rebutting rumours that infighting had prompted disgruntled members of Infosys’
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Boris Johnson will launch the Conservative manifesto on Sunday with a promise not to put up income tax, national insurance or VAT, as he seeks to bolster his commanding poll lead over Labour. Mr Johnson’s decision to put tax at the heart of the election battle with Labour came as the latest polling suggested he
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UK funds that promised retail investors positive returns in all markets have been hit by a tide of redemptions, having once been feted as the ideal product for wary savers scarred by the financial crisis. Absolute return funds, which use a range of assets and derivatives, were promoted on the promise of a set level
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After the Fall: Crisis, Recovery and the Making of a New Spain, by Tobias Buck, Weidenfeld & Nicolson, RRP£20 Don’t Be Evil: The Case Against Big Tech, by Rana Foroohar, Allen Lane, RRP£20 Ruskinland: How John Ruskin Shapes Our World, by Andrew Hill, Pallas Athene, RRP£19.99 The Fabulists: The World’s New Rulers, Their Myths and
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“Why can’t Europe do tech?” asks the latest annual edition of a flagship industry report, before laughing its head off at the premise. “It’s time to stop asking this question”, insists the report by Atomico, the London-based venture capital firm headed by Skype’s Swedish founder Niklas Zennstrom. We must drop “lazy clichés about the ability
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Anand Menon’s argument (“Inflexible Brussels damages its own interests”, November 20), that the EU should have been more accommodating to the UK’s desire for a specially privileged relationship with the single European market, falters on two grounds. The first is that to grant such terms to Switzerland is one thing, and to a large country
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A former top White House official on Thursday denounced a “fictional narrative” peddled by Donald Trump that Ukraine, rather than Russia, interfered in the 2016 US presidential election. Fiona Hill, who was the senior director for European and Russia Affairs on the National Security Council, said in her prepared remarks to the congressional impeachment inquiry that
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Google has said that political advertisers will no longer be able to narrowly target users through their characteristics such as interests or email addresses, in a shake-up to its policies just weeks before the UK’s general election. Alphabet’s search platform said in a blog post on Wednesday that political advertisers will now only be able
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Lieutenant Colonel Alexander Vindman, a US National Security Council official, said President Donald Trump made “inappropriate” demands in his July 25 phone call with Ukrainian president Volodymyr Zelensky that sparked the impeachment inquiry. Col Vindman and Jennifer Williams, an aide to vice-president Mike Pence who also appeared on Tuesday, were the first officials with first-hand
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Sweden has dropped its rape investigation into WikiLeaks founder Julian Assange for a second time, leaving the Australian facing an extradition hearing from the US. Swedish prosecutors said on Tuesday that there was not sufficient evidence to proceed with their preliminary investigation of an alleged rape that took place in August 2010 after they reopened
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University campuses are the new frontline of the Hong Kong protests. Images of defiant students clashing with armed police in centres of learning have stunned the world. Yet perhaps the most shocking and potentially significant incident in five months of ever more violent scenes — and one of the main triggers for the campus protests
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The situation in Hong Kong is a nightmare for Xi Jinping. China’s president has made the restoration of his country’s power and dignity the central theme of his presidency. But part of China’s sovereign territory has descended into violent anarchy. Universities have turned into battlegrounds. Protesters are hurling Molotov cocktails at the police, but they
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Hong Kong protesters armed with longbows fired arrows at police officers at one of the territory’s main university campuses, as clashes resumed in the city following one of the most violent weeks in the territory’s months-long political crisis. Police fired tear gas and water cannons outside Hong Kong Polytechnic University where protesters also used catapults
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Thousands of people in Tehran, Shiraz and other cities and towns across Iran took to the streets on Saturday to protest against the sharp rise in petrol prices. At least one person was killed in the southern town of Sirjan, local officials confirmed. Security forces were out in parts of the capital city and other
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Many of the world’s multimillionaires are limiting their donations to charity because they think supporting good causes is for those even richer than themselves. A survey by Barclays bank of 400 multimillionaires across nine countries to be published on Saturday, found that 75 per cent believed philanthropy was the responsibility of those wealthier than themselves.
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Shares in SEB fell by more than 10 per cent as investors worried the Swedish bank would become the latest lender to be sucked into a money-laundering scandal that has swept through the Nordic financial world.  SEB said it had received questions from SVT, the Swedish public broadcaster whose allegations of suspected money laundering against
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Businesses around the world are getting more cautious in the face of economic and geopolitical uncertainty, causing a broad-based dip in orders for new equipment, Cisco Systems warned on Wednesday. The signs of falling business confidence prompted the US networking company to issue weak financial guidance for the second quarter in a row, wiping 5
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Lord of the Flies, William Golding’s classic novel of societal breakdown, is part of the standard high school curriculum in Hong Kong. But today everyone in this most genteel of cities is witnessing a real-life lesson in the fragility of what we call civilisation, as the territory descends into tribalism and scenes of obscene violence.
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