National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

Electric carmaker Tesla Motors announced on Sunday that it would be updating its autopilot system with new radar technology that would give its luxury cars a better sense of when to break, enabling them to circumvent obstacles. 
 
Chief Executive Elon Musk said that the &quot;over the air&quot; software update would be available within the next couple of weeks.&nbsp; 
 
The upgrade of the&nbsp;semi-autonomous driving system&nbsp;will temporarily prevent drivers from using the system if they do not respond to audible warnings to take back control of the car.&nbsp; 
 
&quot;We&#39;re making much more effective use of radar. It will be a dramatic improvement in the safety of the system done entirely through software,&quot; Elon Musk told journalists on a telephonic interview. 
 
New restrictions of Autopilot 8.0 came after widespread concerns that the system lulled users into a false sense of security through its &quot;hands-off&quot; driving capability.&nbsp; 
 
The system, which was introduced in October, has been the focus of intense scrutiny since July after the death of a Tesla Model S driver, Joshua Brown, while using the technology. 
 
Musk said it was &quot;very likely&quot; the improved Autopilot would have prevented the death of Brown, whose car rammed into the trailer of a truck in Florida. But he cautioned that the update &quot;doesn&#39;t mean perfect safety.&quot; 
 
The National Highway Traffic Safety Administration (NHTSA) has been investigating Tesla&#39;s Autopilot system since June because of the fatal accident.&nbsp; 
 
The agency had been briefed on the changes by Tesla and would review them, spokesman Bryan Thomas said. He declined to offer an update on the Tesla investigation. 
 
The new upgrades in Autopilot 8.0&nbsp; 
 
The revised system will sound warnings if drivers take their hands off the wheel for more than a minute at speeds above 45 miles per hour when there is no vehicle ahead, Musk said. 
 
The warning will sound after the driver&rsquo;s hands are off the wheel for more than three minutes when the Tesla is following another car at speeds above 45 mph. The dashboard also will flash a pulsing light. 
 
If the driver ignores three audible warnings in an hour, the system will temporarily shut off until the car was parked, Musk said, adding that advanced users of autopilot are the most likely to ignore these warnings. 
 
Concerns over safety 
 
&quot;Perfect safety is really an impossible goal. It&#39;s about improving the probability of safety. There won&#39;t ever be zero fatalities, there won&#39;t ever be zero injuries,&quot; Musk says. 
 
The radar technology easily sees through fog, dust rain or snow.&nbsp;&quot;It should work for something like a moose, because a moose is quite a big mass, but it may not work for something like a small deer,&quot; Musk said. 
 
Another challenge is preventing &#39;false positives&#39;. For instance, a car might think an overhead highway sign is an obstacle to be avoided. 
 
Musk is confident that using radar and fleet learning - rather than relying on cameras alone - will solve the problem. &quot;Anything metallic or dense, the radar system we&#39;re confident will be able to detect that and initiate a braking event,&quot; he says. 
 
(WION with inputs from agencies) 
&nbsp;

The upgraded Autopilot?will temporarily prevent drivers from using the system if they do not respond to audible warnings

Electric carmaker Tesla Motors announced on Sunday that it would be updating its autopilot system with new radar technology that would give its luxury cars a better sense of when to break, enabling them to circumvent obstacles. Chief Executive Elon Musk said that the "over the air" software update would be available within the next couple of weeks. The upgrade of the semi-autonomous driving system will temporarily prevent drivers from using the system if they do not respond to audible warnings to take back control of the car. "We're making much more effective use of radar. It will be a dramatic improvement in the safety of the system done entirely through software," Elon Musk told journalists on a telephonic interview. New restrictions of Autopilot 8.0 came after widespread concerns that the system lulled users into a false sense of security through its "hands-off" driving capability. The system, which was introduced in October, has been the focus of intense scrutiny since July after the death of a Tesla Model S driver, Joshua Brown, while using the technology. Musk said it was "very likely" the improved Autopilot would have prevented the death of Brown, whose car rammed into the trailer of a truck in Florida. But he cautioned that the update "doesn't mean perfect safety." The National Highway Traffic Safety Administration (NHTSA) has been investigating Tesla's Autopilot system since June because of the fatal accident. The agency had been briefed on the changes by Tesla and would review them, spokesman Bryan Thomas said. He declined to offer an update on the Tesla investigation. The new upgrades in Autopilot 8.0 The revised system will sound warnings if drivers take their hands off the wheel for more than a minute at speeds above 45 miles per hour when there is no vehicle ahead, Musk said. The warning will sound after the driver’s hands are off the wheel for more than three minutes when the Tesla is following another car at speeds above 45 mph. The dashboard also will flash a pulsing light. If the driver ignores three audible warnings in an hour, the system will temporarily shut off until the car was parked, Musk said, adding that advanced users of autopilot are the most likely to ignore these warnings. Concerns over safety "Perfect safety is really an impossible goal. It's about improving the probability of safety. There won't ever be zero fatalities, there won't ever be zero injuries," Musk says. The radar technology easily sees through fog, dust rain or snow. "It should work for something like a moose, because a moose is quite a big mass, but it may not work for something like a small deer," Musk said. Another challenge is preventing 'false positives'. For instance, a car might think an overhead highway sign is an obstacle to be avoided. Musk is confident that using radar and fleet learning - rather than relying on cameras alone - will solve the problem. "Anything metallic or dense, the radar system we're confident will be able to detect that and initiate a braking event," he says. (WION with inputs from agencies)

Tesla upgrades Autopilot system with new radar technology

Foreign investors have pumped in nearly $1 billion (Rs 6,800 crore) into India&#39;s capital market so far this month. 
 
The investments were attributed to a good monsoon, positive data from the US economy, better corporate earnings and progress on the rollout of the Goods and Services Tax (GST). 
 
Business sentiment also improved after domestic passenger vehicle sales grew for the 14th straight month in August, experts said. 
 
According to depositors&#39; data, net Foreign Portfolio Investment (FPI) stood at Rs 3,178 crore in equities from September 1-9. The same for debt markets was at Rs 3,617 crore, taking the total inflow to Rs 6,795 crore ($1.02 billion). 
 
Portfolio investors had pulled out Rs 4,373 crore from the equity and debt markets in June and July. 
 
So far this year, FPIs have invested Rs 44,028 crore in equities while withdrawing Rs 3,730 crore from the debt market, resulting in a net flow of Rs 40,297 crore. 
 
(WION with inputs from PTI) 
 
&nbsp;

The latest FPI infusion comes on top of a whopping inflow of Rs 25,904 in the preceding two months

Foreign investors have pumped in nearly $1 billion (Rs 6,800 crore) into India's capital market so far this month. The investments were attributed to a good monsoon, positive data from the US economy, better corporate earnings and progress on the rollout of the Goods and Services Tax (GST). Business sentiment also improved after domestic passenger vehicle sales grew for the 14th straight month in August, experts said. According to depositors' data, net Foreign Portfolio Investment (FPI) stood at Rs 3,178 crore in equities from September 1-9. The same for debt markets was at Rs 3,617 crore, taking the total inflow to Rs 6,795 crore ($1.02 billion). Portfolio investors had pulled out Rs 4,373 crore from the equity and debt markets in June and July. So far this year, FPIs have invested Rs 44,028 crore in equities while withdrawing Rs 3,730 crore from the debt market, resulting in a net flow of Rs 40,297 crore. (WION with inputs from PTI)

Foreign investors infuse $1 billion in Indian markets in September

Samsung Electronics Co Ltd&#39;s shares fell to their lowest level in nearly two months on Monday after the tech giant told customers to switch off and return their new Galaxy Note 7 smartphones due to fire-prone batteries. 
 
Investors had wiped 15.9 trillion won (14.3 billion) off the South Korean firm&#39;s market capitalisation as of 0303 GMT, as a series of warnings from regulators and airlines around the world raised fears for the future of the flagship device. 
 
&quot;Some said initially the Galaxy Note 7 could be the best smartphone ever, but now it&#39;s possible the phone will go down as the worst ever,&quot; IBK Securities analyst Lee Seung-woo said, predicting weak sales in the fourth quarter. 
 
Samsung Electronics&#39; common shares were down 6.3 per cent to 1,476,000 won each after touching their lowest level since July 12, and were on track for their biggest daily percentage drop in more than four years. 
 
Analysts said the recall could torpedo Galaxy Note 7 sales and have a lasting impact on the $211 billion company&#39;s brand image, which could derail a recovery in its smartphone market share against rivals like Apple Inc. 
 
The global smartphone leader on Saturday urged all customers to turn off their Note 7s and return them as soon as possible as part of the recall which it voluntarily initiated on Sept. 2. 
 
Unprecedented 
 
The recall is unprecedented for Samsung, which prides itself on its manufacturing prowess. Some analysts estimate the firm might lose $5 billion won worth of revenue after accounting for recall costs. The company had said it had sold 2.5 million Galaxy Note 7s that need to be replaced. 
 
Nomura said it had cut its forecast for Samsung&#39;s third-quarter mobile operating profit by 900 billion won to 3.1 trillion won in the wake of the Note 7 recall. 
 
&quot;Even if Samsung puts Note 7s with new batteries in the market it won&#39;t sell as well as it had initially,&quot; HMC Investment analyst Greg Roh said. 
 
&quot;Long-term, it will cost Samsung significant marketing spending to ensure the next products can overcome this issue.&quot; 
 
The Note 7 problems are a major blow to Samsung&#39;s efforts to build on the strong sales of its Galaxy S7 smartphones launched in March. 
 
The firm was beginning to claw back smartphone market share and had tried to pre-empt Apple by launching the almost $900 Note 7 on Aug. 19, about a month ahead of the latest iPhone release. 
 
The recall forced Samsung to halt sales indefinitely in markets such as the United States and push back launches in other regions such as Europe. 
 
(Reuters)

Samsung Electronics' common shares were down 6.3 per cent to 1,476,000 won each after touching their lowest level since July 12

Samsung Electronics Co Ltd's shares fell to their lowest level in nearly two months on Monday after the tech giant told customers to switch off and return their new Galaxy Note 7 smartphones due to fire-prone batteries. Investors had wiped 15.9 trillion won (14.3 billion) off the South Korean firm's market capitalisation as of 0303 GMT, as a series of warnings from regulators and airlines around the world raised fears for the future of the flagship device. "Some said initially the Galaxy Note 7 could be the best smartphone ever, but now it's possible the phone will go down as the worst ever," IBK Securities analyst Lee Seung-woo said, predicting weak sales in the fourth quarter. Samsung Electronics' common shares were down 6.3 per cent to 1,476,000 won each after touching their lowest level since July 12, and were on track for their biggest daily percentage drop in more than four years. Analysts said the recall could torpedo Galaxy Note 7 sales and have a lasting impact on the $211 billion company's brand image, which could derail a recovery in its smartphone market share against rivals like Apple Inc. The global smartphone leader on Saturday urged all customers to turn off their Note 7s and return them as soon as possible as part of the recall which it voluntarily initiated on Sept. 2. Unprecedented The recall is unprecedented for Samsung, which prides itself on its manufacturing prowess. Some analysts estimate the firm might lose $5 billion won worth of revenue after accounting for recall costs. The company had said it had sold 2.5 million Galaxy Note 7s that need to be replaced. Nomura said it had cut its forecast for Samsung's third-quarter mobile operating profit by 900 billion won to 3.1 trillion won in the wake of the Note 7 recall. "Even if Samsung puts Note 7s with new batteries in the market it won't sell as well as it had initially," HMC Investment analyst Greg Roh said. "Long-term, it will cost Samsung significant marketing spending to ensure the next products can overcome this issue." The Note 7 problems are a major blow to Samsung's efforts to build on the strong sales of its Galaxy S7 smartphones launched in March. The firm was beginning to claw back smartphone market share and had tried to pre-empt Apple by launching the almost $900 Note 7 on Aug. 19, about a month ahead of the latest iPhone release. The recall forced Samsung to halt sales indefinitely in markets such as the United States and push back launches in other regions such as Europe. (Reuters)

Samsung shares slide as Note 7 recall takes toll

IT major HP today said it will acquire Samsung Electronics&#39; printer business in a deal valued at $1.05 billion, a move that will allow the US-based company further consolidate its position in the $55 billion A3 copier industry. 
 
The acquisition will bring an intellectual property portfolio of more than 6,500 printing patents and a workforce of about 6,000 employees globally, including nearly 1,300 researchers and engineers. 
 
Samsung has key engineering centre in South Korea with operations in the US, India, China, Japan, Russia, Canada, Brazil and other countries. 
 
HP, created as part of the breakup of Hewlett-Packard Co. last year, sells personal computers. However, it gets a significant chunk of its profit from supplying ink and toner for the printers it sells. However, HP&#39;s printing division revenue fell 14 per cent in the latest quarter, while overall sales was down about 4 per cent to USD 11.9 billion. 
 
In India, HP is estimated to have close to 2,000 employees in the printer division, including R&amp;D in southern Bengaluru. 
The acquisition of Samsung&#39;s printer business is expected to be accretive in the first full year following closing, with cost synergies and a strong financial model. 
 
The transaction is expected to close within 12 months pending regulatory review and other customary closing conditions. 
After closing, Samsung has agreed to make a USD 100-300 million equity investment in HP through open market purchases, HP said in a statement. 
 
This is the largest print acquisition in HP&#39;s history and accelerates its growth opportunities in the copier segment, it added. 
&quot;It also creates new avenues for growth and greater profitability for partners as they expand managed print services as sales models shift from transactional to contractual,&quot; it said. 
 
HP said the integration costs are estimated to be in the range of $150-200 million over a three-year period. 
&quot;When we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries,&quot; HP president and CEO Dion Weisler said. 
 
The acquisition of Samsung&#39;s printer business allows HP to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers, he added. 
 
The deal will also strengthen HP&#39;s ability to service customers in global laser printing, a category where it has enjoyed a strong, mutually beneficial partnership with Canon, HP said. 
 
Canon is HP&#39;s supplier of printing engines in its existing product line. 
 
(PTI)

The acquisition will bring an intellectual property portfolio of more than 6,500 printing patents and a workforce of about 6,000 employees

IT major HP today said it will acquire Samsung Electronics' printer business in a deal valued at $1.05 billion, a move that will allow the US-based company further consolidate its position in the $55 billion A3 copier industry. The acquisition will bring an intellectual property portfolio of more than 6,500 printing patents and a workforce of about 6,000 employees globally, including nearly 1,300 researchers and engineers. Samsung has key engineering centre in South Korea with operations in the US, India, China, Japan, Russia, Canada, Brazil and other countries. HP, created as part of the breakup of Hewlett-Packard Co. last year, sells personal computers. However, it gets a significant chunk of its profit from supplying ink and toner for the printers it sells. However, HP's printing division revenue fell 14 per cent in the latest quarter, while overall sales was down about 4 per cent to USD 11.9 billion. In India, HP is estimated to have close to 2,000 employees in the printer division, including R&D in southern Bengaluru. The acquisition of Samsung's printer business is expected to be accretive in the first full year following closing, with cost synergies and a strong financial model. The transaction is expected to close within 12 months pending regulatory review and other customary closing conditions. After closing, Samsung has agreed to make a USD 100-300 million equity investment in HP through open market purchases, HP said in a statement. This is the largest print acquisition in HP's history and accelerates its growth opportunities in the copier segment, it added. "It also creates new avenues for growth and greater profitability for partners as they expand managed print services as sales models shift from transactional to contractual," it said. HP said the integration costs are estimated to be in the range of $150-200 million over a three-year period. "When we became a separate company just 10 months ago, it enabled us to become nimble and focus on accelerating growth and reinventing industries," HP president and CEO Dion Weisler said. The acquisition of Samsung's printer business allows HP to deliver print innovation and create entirely new business opportunities with far better efficiency, security, and economics for customers, he added. The deal will also strengthen HP's ability to service customers in global laser printing, a category where it has enjoyed a strong, mutually beneficial partnership with Canon, HP said. Canon is HP's supplier of printing engines in its existing product line. (PTI)

HP to acquire Samsung's printer business for $1.05 billion

Dock workers began unloading furniture, clothing and other cargo at the Long Beach port on Saturday, from the Hanjin Greece container ship, breaking a logjam that has stranded dozens of cargo bound ships heading towards the US west coast.&nbsp; 
 
Cargo ship tracking agency, the Marine Exchange of Southern California said, by mid-Saturday, two more ships were anchored near the port as they did not have the orders to dock. 
 
&quot;Nine more ships are floating in the Pacific,&quot; union officials added. 
 
The ship belongs to South Korean Hanjin shipping Co Ltd, the world&#39;s seventh largest shipping company which is seeking &#39;&#39;bankruptcy protection&#39;&#39; from its home country and the United States.Hanjin has a debt of 5.37 billion Dollars. 
 
Ending the shipping crisis, however, will be a lengthy affair, according to a Reuters report.&nbsp; 
 
Out of 141 ships operated by the company, 92 were stranded at sea till last Friday, reported AFP. The firm was banned by countries including US and China until it guarantees payment for services. 
 
Hanjin on Friday, was given permission to spend 10 billion Dollars by courts in South Korea and the US to unload cargo from four ships going to US West coast.&nbsp; 
 
Shareholder Korean Air also agreed to give 60 billion Won ($54.16 million) to the bankrupt shipper.&nbsp; 
 
Justice for Port Drivers spokeswoman, Barbara Maynard told Reuters: &quot;Once its unloaded, the ship will be reloaded with empty containers or with containers filled with goods for export.&quot; 
 
(WION with inputs from agencies) 
&nbsp;

Nine more ships were floating in the Pacific as they did not have orders to dock

Dock workers began unloading furniture, clothing and other cargo at the Long Beach port on Saturday, from the Hanjin Greece container ship, breaking a logjam that has stranded dozens of cargo bound ships heading towards the US west coast. Cargo ship tracking agency, the Marine Exchange of Southern California said, by mid-Saturday, two more ships were anchored near the port as they did not have the orders to dock. "Nine more ships are floating in the Pacific," union officials added. The ship belongs to South Korean Hanjin shipping Co Ltd, the world's seventh largest shipping company which is seeking ''bankruptcy protection'' from its home country and the United States.Hanjin has a debt of 5.37 billion Dollars. Ending the shipping crisis, however, will be a lengthy affair, according to a Reuters report. Out of 141 ships operated by the company, 92 were stranded at sea till last Friday, reported AFP. The firm was banned by countries including US and China until it guarantees payment for services. Hanjin on Friday, was given permission to spend 10 billion Dollars by courts in South Korea and the US to unload cargo from four ships going to US West coast. Shareholder Korean Air also agreed to give 60 billion Won ($54.16 million) to the bankrupt shipper. Justice for Port Drivers spokeswoman, Barbara Maynard told Reuters: "Once its unloaded, the ship will be reloaded with empty containers or with containers filled with goods for export." (WION with inputs from agencies)

South Korean shipper 'Henjin' docks ship in US, breaks logjam

Ford Motors Co is planning to acquire San francisco-based shuttle service Chariot to help solve congestion issues and help people move more easily. 
 
The automaker wants to move beyond car manufacturing and become a mobility company. 
 
Ford president and CEO, Mark Fields said: &quot;We&rsquo;re expanding our business to be both an auto and a mobility company, and partnering with cities on current and future transportation needs is the next major step.&quot; 
&nbsp;
<div class="twitter-block">
<blockquote class="twitter-tweet" data-lang="en">
<a href="https://twitter.com/hashtag/Ford?src=hash">#Ford</a> acquires <a href="https://twitter.com/rideChariot">@rideChariot</a>, teams up with <a href="https://twitter.com/motivate_co">@motivate_co</a> to provide mobility solutions in the Bay Area. <a href="https://t.co/p3pEL9J5iu">https://t.co/p3pEL9J5iu</a>
&mdash; Ford Motor Company (@Ford) <a href="https://twitter.com/Ford/status/774315213369643009">September 9, 2016</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div>
 
 
Chariot is considering to expand internationally and in the next 18 months, it will move into five more markets said Ford Motors. The terms of the agreement were not disclosed. 
 
It will set up a &quot; city solution&quot; team to work with cities across the world on transportation, Reuters reported. 
 
&quot;City&#39;s &#39;transportation ecosystem&#39; have evolved differently over time and pose unique challenges. Ford City Solutions will team up with municipalities to &quot;propose, pilot and develop mobility solutions tailored to the community,&quot; an official statement by Ford said.&nbsp; 
 
Ford Smart Mobility LLC, Ford&#39;s subsidiary company&#39;s chairman, Jim Hackett said: &quot;Cities globally are dealing with increased congestion, a growing middle class and environmental issues &ndash; all of which can be alleviated by developing mobility solutions fine-tuned to the unique challenges of each location.&quot; 
 
In partnership with Motivate, the global leader in bike share, Ford is planning to launch &quot;Ford GoBike&quot; a bike-sharing programme next year. The plan is to add new stations and 7,000 bikes throughout the San Francisco Bay Area by late 2018. 
 
in 2013, Motivate launched an urban bike system called the Bay Area Bike Share. 
 
At the moment, Chariot is operating 100 Ford Transit shuttles, along 28 routes in the Bay Area. 
 
The routes are crowd-sourced, depending on customer demand. 
 
Pilot shuttle programs have already been started in Kansas City, Missouri, and Dearborn, Michigan. 
 
Other automakers which use this service include General Motors, Fiat Chrysler, Volkswagen and BMW. 
 
(WION inputs from Reuters) 
 
 
 
 
 
&nbsp;

The automaker is also planning to launch a bike-sharing programme called 'Ford GoBike" with bike share company 'Motivate' by 2017

Ford Motors Co is planning to acquire San francisco-based shuttle service Chariot to help solve congestion issues and help people move more easily. The automaker wants to move beyond car manufacturing and become a mobility company. Ford president and CEO, Mark Fields said: "We’re expanding our business to be both an auto and a mobility company, and partnering with cities on current and future transportation needs is the next major step." #Ford acquires @rideChariot, teams up with @motivate_co to provide mobility solutions in the Bay Area. https://t.co/p3pEL9J5iu — Ford Motor Company (@Ford) September 9, 2016 Chariot is considering to expand internationally and in the next 18 months, it will move into five more markets said Ford Motors. The terms of the agreement were not disclosed. It will set up a " city solution" team to work with cities across the world on transportation, Reuters reported. "City's 'transportation ecosystem' have evolved differently over time and pose unique challenges. Ford City Solutions will team up with municipalities to "propose, pilot and develop mobility solutions tailored to the community," an official statement by Ford said. Ford Smart Mobility LLC, Ford's subsidiary company's chairman, Jim Hackett said: "Cities globally are dealing with increased congestion, a growing middle class and environmental issues – all of which can be alleviated by developing mobility solutions fine-tuned to the unique challenges of each location." In partnership with Motivate, the global leader in bike share, Ford is planning to launch "Ford GoBike" a bike-sharing programme next year. The plan is to add new stations and 7,000 bikes throughout the San Francisco Bay Area by late 2018. in 2013, Motivate launched an urban bike system called the Bay Area Bike Share. At the moment, Chariot is operating 100 Ford Transit shuttles, along 28 routes in the Bay Area. The routes are crowd-sourced, depending on customer demand. Pilot shuttle programs have already been started in Kansas City, Missouri, and Dearborn, Michigan. Other automakers which use this service include General Motors, Fiat Chrysler, Volkswagen and BMW. (WION inputs from Reuters)

Ford to buy San Francisco-based shuttle service 'Chariot'

Tech giant Samsung Electronics Co Ltd on Saturday recommended to its South Korean customers that they stop using the Galaxy Note 7 phone, which the company is currently recalling because its batteries are prone to catching fire. 
 
Samsung, in a statement posted online, said it would offer rental phones to Korean customers who turn in their Galaxy Note 7&#39;s and reiterated that it plans to have a &quot;safe&quot; Galaxy Note 7 ready to give to customers affected by the recall starting September 19. 
 
In the wake of reports that the phone&#39;s batteries have caught fire during charging and normal use, the American safety agency the US Consumer Product Safety Commission said on Friday that it is working with Samsung to recall the Samsung Galaxy Note 7 smartphones.&nbsp;
<div class="twitter-block">
<blockquote class="twitter-tweet" data-lang="en">
U.S. <a href="https://twitter.com/hashtag/GalaxyNote7?src=hash">#GalaxyNote7</a> Exchange Program update: We ask you to power down your Note7 &amp; return to where purchased. Info: <a href="https://t.co/b2mC7RIFip">https://t.co/b2mC7RIFip</a>.
&mdash; Samsung Mobile US (@SamsungMobileUS) <a href="https://twitter.com/SamsungMobileUS/status/774416839925522433">September 10, 2016</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script></div>
 
 
The warning comes after the US Federal Aviation Administration (FAA) told air travellers not to switch on or charge the Note 7 -- as it may explode -- during flights. 
 
Last week, the South Korean company issued a recall for 10 markets, including South Korea and the United States, after reports of the smartphone&#39;s battery catching fire.&nbsp; 
 
Meanwhile, customers in the US are being allowed to exchange their Galaxy Note 7&#39;s for one of the company&#39;s other models along with a $25 gift card.&nbsp; 
&nbsp;
<div class="row">
<div class="article-blockquote">
<div class="col-sm-10 col-sm-offset-1 blockquote-content quoteshare">
<blockquote>
<h5>As many as 2.5 million Galaxy Note 7 smartphones have been sold worldwide and it is being speculated that the cost of recall is going to be massive.&nbsp;</h5>
</blockquote>
</div>

<div class="col-sm-1 blockquote-content">
<div class="share-blockquote"><a class="twitter popup" href="http://twitter.com/intent/tweet?text=As many as 2.5 million Galaxy Note 7 smartphones have been sold worldwide and it is being speculated that the cost of recall is going to be massive.?" target="_blank">&nbsp;</a></div>
</div>
</div>
</div>
 
As many as 2.5 million Galaxy Note 7 smartphones have been sold worldwide and the cost of recall is expected to be massive.&nbsp; 
 
Product liability expert and chief executive officer of Real-World Forensic Engineering, Jahan Rasty told Reuters: &quot;The cost of the recall is going to be astronomical. They have to compensate people, fix the problem and give them a revised version of the product that doesn&#39;t have the same manufacturing or design defect.&quot; 
 
&quot;The longer this story lingers, the more it will etch itself in people&#39;s minds,&quot; he added. 
&nbsp; 
No Samsung Galaxy Note 7 onboard&nbsp; 
 
The world&#39;s three largest airlines by passenger traffic - American, Delta and United - had earlier told passengers at the gate and on board aircraft to keep the phones switched off until they deplane, according to an AFP report. 
 
Singapore Airlines Ltd, Qantas Airways Ltd and Air France KLM SA had issued similar bans. Taiwan&#39;s two biggest airlines, China Airlines and EVA Airways, have also barred usage of the phone on flights.&nbsp; 
 
This is the latest effort by the aviation industry to manage the use of lithium-ion batteries, which are prone to combustion, but are used in a number of devices including phones and laptops. 
 
The FAA released a report in January stating at least 171 incidents of smoke, fire, heating or explosion of batteries since 1991, said an AFP report.&nbsp; 
 
(WION with inputs from agencies) 
 
 
 
 
 
 
&nbsp;

Meanwhile, the US Consumer Product Safety Commission said yesterday it is working with Samsung to recall the Note 7 smartphones

Tech giant Samsung Electronics Co Ltd on Saturday recommended to its South Korean customers that they stop using the Galaxy Note 7 phone, which the company is currently recalling because its batteries are prone to catching fire. Samsung, in a statement posted online, said it would offer rental phones to Korean customers who turn in their Galaxy Note 7's and reiterated that it plans to have a "safe" Galaxy Note 7 ready to give to customers affected by the recall starting September 19. In the wake of reports that the phone's batteries have caught fire during charging and normal use, the American safety agency the US Consumer Product Safety Commission said on Friday that it is working with Samsung to recall the Samsung Galaxy Note 7 smartphones. U.S. #GalaxyNote7 Exchange Program update: We ask you to power down your Note7 & return to where purchased. Info: https://t.co/b2mC7RIFip. — Samsung Mobile US (@SamsungMobileUS) September 10, 2016 The warning comes after the US Federal Aviation Administration (FAA) told air travellers not to switch on or charge the Note 7 -- as it may explode -- during flights. Last week, the South Korean company issued a recall for 10 markets, including South Korea and the United States, after reports of the smartphone's battery catching fire. Meanwhile, customers in the US are being allowed to exchange their Galaxy Note 7's for one of the company's other models along with a $25 gift card. As many as 2.5 million Galaxy Note 7 smartphones have been sold worldwide and it is being speculated that the cost of recall is going to be massive. As many as 2.5 million Galaxy Note 7 smartphones have been sold worldwide and the cost of recall is expected to be massive. Product liability expert and chief executive officer of Real-World Forensic Engineering, Jahan Rasty told Reuters: "The cost of the recall is going to be astronomical. They have to compensate people, fix the problem and give them a revised version of the product that doesn't have the same manufacturing or design defect." "The longer this story lingers, the more it will etch itself in people's minds," he added. No Samsung Galaxy Note 7 onboard The world's three largest airlines by passenger traffic - American, Delta and United - had earlier told passengers at the gate and on board aircraft to keep the phones switched off until they deplane, according to an AFP report. Singapore Airlines Ltd, Qantas Airways Ltd and Air France KLM SA had issued similar bans. Taiwan's two biggest airlines, China Airlines and EVA Airways, have also barred usage of the phone on flights. This is the latest effort by the aviation industry to manage the use of lithium-ion batteries, which are prone to combustion, but are used in a number of devices including phones and laptops. The FAA released a report in January stating at least 171 incidents of smoke, fire, heating or explosion of batteries since 1991, said an AFP report. (WION with inputs from agencies)

Now, Samsung tells Korean customers to stop using Galaxy Note 7

Traders bought the yen and dumped the South Korean won today as financial markets were jolted by news that North Korea conducted another nuclear test, reigniting geopolitical tensions. 
 
Pyongyang later said the test had confirmed that it could mount a nuclear warhead on a rocket, hours after it carried out its fifth atomic explosion. 
 
The news aggravated geopolitical tensions in the region as world powers including China struggle to rein in the country&#39;s erratic behaviour. 
 
In response, investors bought the Japanese yen, which is widely seen as a safe investment in times of turmoil and uncertainty.&nbsp; 
 
In Tokyo afternoon trading, the dollar weakened to 102.09 yen from 102.48 yen in New York, while the euro slipped to 115.15 yen from 115.40 yen. 
 
The won&nbsp;took a hit, sinking about 0.7 per cent against the greenback on the news, while Seoul&#39;s KOSPI share index dropped more than one percent. 
 
&quot;We can probably say that the market is reacting a little to signs North Korea conducted a nuclear test,&quot; Soichiro Monji, general manager for the economic research department at Daiwa SB Investments, told Bloomberg News. 
 
&quot;We&#39;re not seeing a huge amount of trading on this news, but it does contribute to a slight risk-off mood. The yen is strengthening, and shares aren&#39;t managing to rise.&quot; 
 
In other trading, the euro rose to $1.1279 from $1.1261, after the European Central Bank on Thursday left its stimulus policies unchanged. 
 
Markets have been focused on central bank policy measures with hopes fading for a September US rate hike and as the Bank of Japan meets later this month. 
 
&quot;In order for the dollar to bounce back, rate-hike expectations have to heighten,&quot; said Yasuhiro Kaizaki, vice president for global markets at Sumitomo Mitsui Trust Bank in New York.&nbsp; 
 
&quot;The market will need fresh factors and that may not come until retail sales next week.&quot; 
 
(AFP) 
 
&nbsp;

Investors started buying the Yen, seen as a safe investment in times of uncertainty, after North Korea's 5th nuclear test today

Traders bought the yen and dumped the South Korean won today as financial markets were jolted by news that North Korea conducted another nuclear test, reigniting geopolitical tensions. Pyongyang later said the test had confirmed that it could mount a nuclear warhead on a rocket, hours after it carried out its fifth atomic explosion. The news aggravated geopolitical tensions in the region as world powers including China struggle to rein in the country's erratic behaviour. In response, investors bought the Japanese yen, which is widely seen as a safe investment in times of turmoil and uncertainty. In Tokyo afternoon trading, the dollar weakened to 102.09 yen from 102.48 yen in New York, while the euro slipped to 115.15 yen from 115.40 yen. The won took a hit, sinking about 0.7 per cent against the greenback on the news, while Seoul's KOSPI share index dropped more than one percent. "We can probably say that the market is reacting a little to signs North Korea conducted a nuclear test," Soichiro Monji, general manager for the economic research department at Daiwa SB Investments, told Bloomberg News. "We're not seeing a huge amount of trading on this news, but it does contribute to a slight risk-off mood. The yen is strengthening, and shares aren't managing to rise." In other trading, the euro rose to $1.1279 from $1.1261, after the European Central Bank on Thursday left its stimulus policies unchanged. Markets have been focused on central bank policy measures with hopes fading for a September US rate hike and as the Bank of Japan meets later this month. "In order for the dollar to bounce back, rate-hike expectations have to heighten," said Yasuhiro Kaizaki, vice president for global markets at Sumitomo Mitsui Trust Bank in New York. "The market will need fresh factors and that may not come until retail sales next week." (AFP)

Yen up, won hit as North Korea atomic test jolts markets

A team at Google parent Alphabet will try out using drones this month to deliver burritos on a college campus in Virginia.&nbsp; 
 
Astro Teller, playfully referred to as the &#39;Captain of Moonshots&#39; at an X lab created at Google to pursue big-vision projects such as drones and self-driving cars, said in a blog post that Project Wing team was ready to launch the test of a prototype drone delivery system. 
 
US officials announced last week that Alphabet is joining tests for drone deliveries, as the White House unveiled accelerated rulemaking for commercial unmanned aircraft operations. 
 
Teller said that a Wing prototype is ready for testing and that the team will run hundreds of flights in Virginia over the course of several days to deliver lunches prepared in an on-site food truck by Mexican food chain Chipotle. 
 
&quot;We want to learn how people feel when they&rsquo;re receiving a package by air, and taking someone&rsquo;s time and/or money changes things more than a little,&quot; Teller said. 
 
&quot;And we want to feel the pressure of unexpected circumstances that show us how we can get better at loading and managing a fleet of planes.&quot; 
 
The Project Wing team opted to try out delivering food to create operating challenges including &quot;a lunchtime rush of burrito orders&quot; as well as having to get food to customers hot and in the right shape, according to Teller. 
 
&quot;In future tests, we could add a broader range of items, like drinks, which will push us to handle more weight, keep packages carefully balanced, and manage combinations of items on a single flight,&quot; he added. 
 
He believes drones will be available within the next decade for important missions such as delivering medicine and other supplies to areas cut off by disasters and helping emergency responders battle wildfires. 
 
At a &quot;White House Drone Day&quot; event last week, officials announced steps toward expanding rules for drone operations, including for newsgathering and commercial flights over populated areas, after a first set of regulations unveiled in June. 
 
&quot;We hope to propose a rule on unmanned aircraft operations over people by the end of this year,&quot; Federal Aviation Administration chief Michael Huerta said. 
 
The government has registered more than 500,000 hobby drones in eight months, but sees a need for more rules for commercial operators, he added. 
 
The first set of rules stop short of allowing some long-sought applications, including delivery of goods by retailers like Amazon in populated areas. 
 
As the world&#39;s largest online retailer, Amazon raised eyebrows in late 2013 with its plan to airlift small parcels to customers by drone in select markets less than 30 minutes after orders are received. 
 
It has gone to other countries to test its evolving technology, and last month announced plans for test deliveries in Britain. 
 
(AFP)

Google parent Alphabet is joining test for drone deliveries prepared in an on-site food truck by the American fast-food chain Chipotle

A team at Google parent Alphabet will try out using drones this month to deliver burritos on a college campus in Virginia. Astro Teller, playfully referred to as the 'Captain of Moonshots' at an X lab created at Google to pursue big-vision projects such as drones and self-driving cars, said in a blog post that Project Wing team was ready to launch the test of a prototype drone delivery system. US officials announced last week that Alphabet is joining tests for drone deliveries, as the White House unveiled accelerated rulemaking for commercial unmanned aircraft operations. Teller said that a Wing prototype is ready for testing and that the team will run hundreds of flights in Virginia over the course of several days to deliver lunches prepared in an on-site food truck by Mexican food chain Chipotle. "We want to learn how people feel when they’re receiving a package by air, and taking someone’s time and/or money changes things more than a little," Teller said. "And we want to feel the pressure of unexpected circumstances that show us how we can get better at loading and managing a fleet of planes." The Project Wing team opted to try out delivering food to create operating challenges including "a lunchtime rush of burrito orders" as well as having to get food to customers hot and in the right shape, according to Teller. "In future tests, we could add a broader range of items, like drinks, which will push us to handle more weight, keep packages carefully balanced, and manage combinations of items on a single flight," he added. He believes drones will be available within the next decade for important missions such as delivering medicine and other supplies to areas cut off by disasters and helping emergency responders battle wildfires. At a "White House Drone Day" event last week, officials announced steps toward expanding rules for drone operations, including for newsgathering and commercial flights over populated areas, after a first set of regulations unveiled in June. "We hope to propose a rule on unmanned aircraft operations over people by the end of this year," Federal Aviation Administration chief Michael Huerta said. The government has registered more than 500,000 hobby drones in eight months, but sees a need for more rules for commercial operators, he added. The first set of rules stop short of allowing some long-sought applications, including delivery of goods by retailers like Amazon in populated areas. As the world's largest online retailer, Amazon raised eyebrows in late 2013 with its plan to airlift small parcels to customers by drone in select markets less than 30 minutes after orders are received. It has gone to other countries to test its evolving technology, and last month announced plans for test deliveries in Britain. (AFP)

Google parent Alphabet to deliver burritos using drones

Retail and commercial banking giant Wells Fargo has been fined more than $185 million in fines by regulators in US for secretly opening more than a million bogus accounts without the knowledge of the customers. 
 
The Consumer Financial Protection Bureau (CBFC) says the employees of the bank illegally boosted sales figures by opening unauthorised deposit and credit accounts and funded them with customers&#39; money without their permission, sometimes creating phony email addresses to enroll them.&nbsp; 
 
The San Francisco-based bank will pay $100 million to the CBFC, its largest fine to date, $50 million to the City of Los Angeles, which had filed a lawsuit last year, accusing the bank of pressuring employees into fraudulent behavior, such as opening fictitious accounts, $35 million to the Treasury Department and $5 million to compensate all customers concerned.&nbsp; 
 
&quot;Today&#39;s action should serve notice to the entire industry that financial incentive programs, if not monitored carefully, carry serious risks that can have serious legal consequences,&quot; CFPB Director Richard Cordray said in a statement. 
 
Wells Fargo said that it &quot;regretted and took responsibility for the unauthorised accounts.&quot; It said a review by a third-party consultant resulted in $2.6 million in refunds to customers for any fees associated with products the account holders &quot;may not have requested.&quot;&nbsp; 
 
&ldquo;Wells Fargo is committed to putting our customers&rsquo; interests first 100% of the time, and we regret and take responsibility for any instances where customers may have received a product that they did not request,&quot; the company said in a statement. 
 
Wells Fargo found that employees had opened more than 1.5 million bogus deposit accounts alone over 2011-2015 resulting in millions of dollars in customer fees while helping bank employees meet sales targets and receive bonuses. 
 
A bank spokesperson said it had fired 5,300 employees and managers over a five-year period for their involvement in the scam.&nbsp; 
 
The bank&#39;s shares closed fractionally higher at $49.90 on Thursday. 
 
(WION with inputs from agencies)

The San Francisco-based bank will pay $100 million to the Consumer Financial Protection Bureau alone, the largest fine imposed by the regulator till date

Retail and commercial banking giant Wells Fargo has been fined more than $185 million in fines by regulators in US for secretly opening more than a million bogus accounts without the knowledge of the customers. The Consumer Financial Protection Bureau (CBFC) says the employees of the bank illegally boosted sales figures by opening unauthorised deposit and credit accounts and funded them with customers' money without their permission, sometimes creating phony email addresses to enroll them. The San Francisco-based bank will pay $100 million to the CBFC, its largest fine to date, $50 million to the City of Los Angeles, which had filed a lawsuit last year, accusing the bank of pressuring employees into fraudulent behavior, such as opening fictitious accounts, $35 million to the Treasury Department and $5 million to compensate all customers concerned. "Today's action should serve notice to the entire industry that financial incentive programs, if not monitored carefully, carry serious risks that can have serious legal consequences," CFPB Director Richard Cordray said in a statement. Wells Fargo said that it "regretted and took responsibility for the unauthorised accounts." It said a review by a third-party consultant resulted in $2.6 million in refunds to customers for any fees associated with products the account holders "may not have requested." “Wells Fargo is committed to putting our customers’ interests first 100% of the time, and we regret and take responsibility for any instances where customers may have received a product that they did not request," the company said in a statement. Wells Fargo found that employees had opened more than 1.5 million bogus deposit accounts alone over 2011-2015 resulting in millions of dollars in customer fees while helping bank employees meet sales targets and receive bonuses. A bank spokesperson said it had fired 5,300 employees and managers over a five-year period for their involvement in the scam. The bank's shares closed fractionally higher at $49.90 on Thursday. (WION with inputs from agencies)

US banking giant Wells Fargo fined $185 mn for bogus accounts

Some 46 million people in Britain could potentially benefit from a legal case brought against Mastercard demanding 14 billion pounds ($19 billion) in damages for allegedly charging excessive fees, according to court documents filed in London. 
 
The case brought by a former chief financial services ombudsman alleges the payments company charged unlawfully high fees to stores when shoppers swiped their debit or credit cards and these were passed on to consumers in higher prices. 
 
Mastercard is alleged to have done this for 16 years between 1992 and 2008, in more than 600 pages of documents filed at the Competition Appeal Tribunal on Thursday. 
 
&quot;This was almost an invisible tax,&quot; Walter Merricks, who is bringing the case, told the BBC. &quot;Mastercard has behaved disgracefully in this. They have not had the reasonableness to accept that what this was doing was damaging UK consumers.&quot; 
 
Mastercard said in a statement it denied any wrongdoing.&quot;We continue to firmly disagree with the basis of this claim and we intend to oppose it vigorously,&quot; the world&#39;s second-largest payments network said. 
 
The lawsuit comes after the European Union&#39;s antitrust regulator found in 2014 Mastercard&#39;s fees to store owners to process international payments within the EU were excessive. Law firm Quinn Emanuel said the lawsuit was the largest damages claim in British history and would be brought under a law meaning consumers would automatically be claimants unless they opt out. 
 
Any person living in Britain who used a credit card, cash or cheques and was over 16 years old in the period covered by the lawsuit will automatically be part of the claim. If the 14 billion pound claim was shared equally between the number of eligible claimants, each person could receive more than 300 pounds each, according to a Reuters&#39; calculation. 
 
A lawyer working on the case said Mastercard charged shops fees in excess of 1 per cent for card use on international transactions between 1992 and 2008. Although the EU&#39;s anti-trust regulator only ruled Mastercard&#39;s international fees were illegal, this impacted British consumers as it was the default fee used in Britain. 
 
Two years ago, the European Union capped the fees retailers pay at 0.2 per cent for debit cards and 0.3 per cent for credit cards. Merricks in a statement said the case is a watershed moment for consumer compensation in Britain.Merricks was head of Britain&#39;s financial services ombudsmen for ten years until 2009, helping to settle disputes between consumers and financial services companies. 
 
Britain&#39;s banks have been caught in a range of misselling cases in the last five years. They have paid 24 billion pounds in compensation for misselling loan payment insurance, making it Britain&#39;s costliest scandal in financial services. 
 
Consumers no longer living in Britain, but who lived in the country between 1992 and 2008, can opt in to the collective claim against Mastercard. Any hearing on the case is not expected until early 2018 unless MasterCard settles it out of court. 
 
($1 = 0.7523 pounds) 
 
(Reuters)

It is alleged the company charged stores unlawfully high fees when shoppers swiped credit cards; the charges were passed on to consumers

Some 46 million people in Britain could potentially benefit from a legal case brought against Mastercard demanding 14 billion pounds ($19 billion) in damages for allegedly charging excessive fees, according to court documents filed in London. The case brought by a former chief financial services ombudsman alleges the payments company charged unlawfully high fees to stores when shoppers swiped their debit or credit cards and these were passed on to consumers in higher prices. Mastercard is alleged to have done this for 16 years between 1992 and 2008, in more than 600 pages of documents filed at the Competition Appeal Tribunal on Thursday. "This was almost an invisible tax," Walter Merricks, who is bringing the case, told the BBC. "Mastercard has behaved disgracefully in this. They have not had the reasonableness to accept that what this was doing was damaging UK consumers." Mastercard said in a statement it denied any wrongdoing."We continue to firmly disagree with the basis of this claim and we intend to oppose it vigorously," the world's second-largest payments network said. The lawsuit comes after the European Union's antitrust regulator found in 2014 Mastercard's fees to store owners to process international payments within the EU were excessive. Law firm Quinn Emanuel said the lawsuit was the largest damages claim in British history and would be brought under a law meaning consumers would automatically be claimants unless they opt out. Any person living in Britain who used a credit card, cash or cheques and was over 16 years old in the period covered by the lawsuit will automatically be part of the claim. If the 14 billion pound claim was shared equally between the number of eligible claimants, each person could receive more than 300 pounds each, according to a Reuters' calculation. A lawyer working on the case said Mastercard charged shops fees in excess of 1 per cent for card use on international transactions between 1992 and 2008. Although the EU's anti-trust regulator only ruled Mastercard's international fees were illegal, this impacted British consumers as it was the default fee used in Britain. Two years ago, the European Union capped the fees retailers pay at 0.2 per cent for debit cards and 0.3 per cent for credit cards. Merricks in a statement said the case is a watershed moment for consumer compensation in Britain.Merricks was head of Britain's financial services ombudsmen for ten years until 2009, helping to settle disputes between consumers and financial services companies. Britain's banks have been caught in a range of misselling cases in the last five years. They have paid 24 billion pounds in compensation for misselling loan payment insurance, making it Britain's costliest scandal in financial services. Consumers no longer living in Britain, but who lived in the country between 1992 and 2008, can opt in to the collective claim against Mastercard. Any hearing on the case is not expected until early 2018 unless MasterCard settles it out of court. ($1 = 0.7523 pounds) (Reuters)

Mastercard sued for $19 billion in Britain's biggest damages claim

The United Breweries Ltd management said Vijay Mallya would continue as UBL chairman. 
 
The management sought legal opinion from Chug Yogendra Pal, a former chief justice of India. 
As per law, Vijay Mallya can continue as chairman, he said.&nbsp; 
 
The Press Trust of India quoted him saying, as of now, the Enforcement Directorate &quot;had not attached&quot; any properties and shares of UBL and Mallya, which does not disqualify him from the post of chairman. 
 
The Kingfisher mogul has a money laundering case against him and his associates. The ED issued its second attachment order for Mallya&#39;s assests worth Rupees 6,630 crore on September 5 and seized his farmhouse worth Rupees 25 crore, flats in Bengaluru worth Rupees 565 crore and fixed deposits of Rupees 10 crore. 
 
The Enforcement Directorate took over the investigation into the default of loan taken from nationalised banks, including the State Bank of India. 
 
The total attachment has gone up to Rupees 8,041 crore as the attached assets worth Rupees 1,411 crore was included. 
 
A provisional attachment order, issued under the Prevention of Money Laundering Act, said it was confiscating shares of USL, United Breweries Ltd and McDowell Holding Company, jointly owned by Mallya and UBHL. 
 
The agency said the assets were &quot;proceeds generated out of criminal activity&quot; of the alleged default of bank loans as it claimed he had &quot;criminally conspired&quot; with Kingfisher Airlines and United Breweries Holdings to obtain funds from the banks. 
 
Of this total amount, the principal Rupees 4,930.34 crore still remains unpaid. 
 
(WION with inputs from PTI) 
 
 
&nbsp;

Since the Enforcement Directorate 'had not attached' any properties and shares of UBL and Mallya, it does not disqualify him

The United Breweries Ltd management said Vijay Mallya would continue as UBL chairman. The management sought legal opinion from Chug Yogendra Pal, a former chief justice of India. As per law, Vijay Mallya can continue as chairman, he said. The Press Trust of India quoted him saying, as of now, the Enforcement Directorate "had not attached" any properties and shares of UBL and Mallya, which does not disqualify him from the post of chairman. The Kingfisher mogul has a money laundering case against him and his associates. The ED issued its second attachment order for Mallya's assests worth Rupees 6,630 crore on September 5 and seized his farmhouse worth Rupees 25 crore, flats in Bengaluru worth Rupees 565 crore and fixed deposits of Rupees 10 crore. The Enforcement Directorate took over the investigation into the default of loan taken from nationalised banks, including the State Bank of India. The total attachment has gone up to Rupees 8,041 crore as the attached assets worth Rupees 1,411 crore was included. A provisional attachment order, issued under the Prevention of Money Laundering Act, said it was confiscating shares of USL, United Breweries Ltd and McDowell Holding Company, jointly owned by Mallya and UBHL. The agency said the assets were "proceeds generated out of criminal activity" of the alleged default of bank loans as it claimed he had "criminally conspired" with Kingfisher Airlines and United Breweries Holdings to obtain funds from the banks. Of this total amount, the principal Rupees 4,930.34 crore still remains unpaid. (WION with inputs from PTI)

Vijay Mallya to continue as United Breweries Ltd chairman

The ministry of defence in United Kingdom (UK) is moving its computing from secure millitary network that it used in the last decade to newly-launched data centres owned by the tech giant Microsoft, the Telegraph reported today.&nbsp; 
 
The announcement comes as Microsoft&nbsp;opens its data centres&nbsp;in London, Cardiff and Durham.&nbsp;The tech giant&#39;s first data centres in UK,&nbsp;its second biggest market for cloud-based software after the United States, are up and running&nbsp;as demand for data localisation spreads across Europe and around the world. &nbsp;Microsoft&nbsp;is the first international company to build complete cloud data&nbsp;centres in the UK.&nbsp;&nbsp; 
 
&quot;Right from the start I&#39;ve felt that for defence the only appropriate place to have our data was here in the UK,&quot; Mike Stone, the MoD&#39;s chief digital and information officer told The Telegraph.&nbsp; 
 
&quot;Technically our data could be held anywhere in the European economic area, but I wouldn&#39;t ever want to be in a position where we had data being held elsewhere and this coming under scrutiny.&quot; 
 
Microsoft&#39;s Office 365 and Azure will allow customers&#39; and citizens&#39; information to be kept on the cloud and permit operations to be run over the internet. Security concerns have sparked fears as the MoD, which employs 230,000 people and spends more than $3 billion per year on technical infrastructure, moves away from its traditionally safe military computer network.&nbsp; 
 
Stone, however, said the software contains safeguard for data to protect individual documents.&nbsp; 
 
Other initial UK cloud customers include automaker Aston Martin, and South London and Maudsley NHS Foundation Trust, the country&#39;s largest mental health agency, and Capita Plc, Britain&rsquo;s largest business process outsourcing. 
 
Meanwhile, cloud computing is more efficient and cheaper than using data servers because users are charged only for the data they use which can be modified on a short notice too.&nbsp; 
 
Local storage of data has grown more desirable as US technology companies have become dominant.&nbsp; 
 
Britain&#39;s vote to leave the European Union has also raised concerns over the status of data stored and processed in the UK. 
 
(WION with inputs from Reuters)

Microsoft's Office 365 and Azure will allow citizens' information to be kept on the cloud and permit operations to be run over Internet

The ministry of defence in United Kingdom (UK) is moving its computing from secure millitary network that it used in the last decade to newly-launched data centres owned by the tech giant Microsoft, the Telegraph reported today. The announcement comes as Microsoft opens its data centres in London, Cardiff and Durham. The tech giant's first data centres in UK, its second biggest market for cloud-based software after the United States, are up and running as demand for data localisation spreads across Europe and around the world. Microsoft is the first international company to build complete cloud data centres in the UK. "Right from the start I've felt that for defence the only appropriate place to have our data was here in the UK," Mike Stone, the MoD's chief digital and information officer told The Telegraph. "Technically our data could be held anywhere in the European economic area, but I wouldn't ever want to be in a position where we had data being held elsewhere and this coming under scrutiny." Microsoft's Office 365 and Azure will allow customers' and citizens' information to be kept on the cloud and permit operations to be run over the internet. Security concerns have sparked fears as the MoD, which employs 230,000 people and spends more than $3 billion per year on technical infrastructure, moves away from its traditionally safe military computer network. Stone, however, said the software contains safeguard for data to protect individual documents. Other initial UK cloud customers include automaker Aston Martin, and South London and Maudsley NHS Foundation Trust, the country's largest mental health agency, and Capita Plc, Britain’s largest business process outsourcing. Meanwhile, cloud computing is more efficient and cheaper than using data servers because users are charged only for the data they use which can be modified on a short notice too. Local storage of data has grown more desirable as US technology companies have become dominant. Britain's vote to leave the European Union has also raised concerns over the status of data stored and processed in the UK. (WION with inputs from Reuters)

UK's ministry of defence switches to cloud as Microsoft opens its first data centres

Amazon, the world&#39;s largest Internet-based retailer, said it would start delivering food from restaurants direct to customers, Reuters reported today.&nbsp;The service, however, will be available only in some parts of London. 
 
The &quot;Amazon Restaurants&quot; service would be available only to customers registered under its Prime delivery scheme, the retail giant said in a statement today. The order will be delivered for free if its over 15 Pounds ($20). 
 
Amazon is the newest entrant to the food delivery service which caters to a consumer base completely reliant on companies which do not charge a registeration fee. 
 
Companies like Just Eats, UberEats and Deliveroo have no registration fees and are a common sight on the streets of London, according to Business Insider UK. 
 
(WION) 
 
 
&nbsp;

The 'Amazon Restaurants' service would be available only to customers registered under its Prime delivery scheme

Amazon, the world's largest Internet-based retailer, said it would start delivering food from restaurants direct to customers, Reuters reported today. The service, however, will be available only in some parts of London. The "Amazon Restaurants" service would be available only to customers registered under its Prime delivery scheme, the retail giant said in a statement today. The order will be delivered for free if its over 15 Pounds ($20). Amazon is the newest entrant to the food delivery service which caters to a consumer base completely reliant on companies which do not charge a registeration fee. Companies like Just Eats, UberEats and Deliveroo have no registration fees and are a common sight on the streets of London, according to Business Insider UK. (WION)

Amazon to start restaurant deliveries in London

A report by UK&#39;s Department of International Trade (DIT) reveals India has emerged as the second largest international job creator in the last fiancial year.&nbsp; 
 
India also retained its spot as the third largest source of foreign direct investment in the UK, Indian news agency PTI reported today quoting DIT.&nbsp; 
 
In 2015, Indian companies created 7,105 jobs through 140 projects the report revealed. While US created 25,694 jobs taking the lead, Germany came third with 5,291 jobs from 99 projects. 
 
Liam Fox, secretary of state for International trade said the UK has broadened its reach with emerging markets, on his three-day visit to India. 
 
India is also the third largest investor in bringing foreign direct investment (FDI) to the UK for the second time. 
 
China is ahead of India with 156 projects while the US provided 570 projects, becoming UK&#39;s largest source of inward investment. 
 
In 2015, there was a 65 per cent increase in foreign direct investment flow from India to the UK, creating 7,730 jobs and saving 1,620 more in th eyear 2014-15. 
 
Dominic Asquith, British high commissioner to India said, &quot;With India we share a two way relationship of growth as the UK is also India&rsquo;s largest G20 investor.&quot; 
 
Although the report has estimated job creation figures for the last financial year, there is some fear as to how Brexit will affect the outflow of FDI to the UK. 
 
(WION with inputs from PTI)

In 2015, Indian companies created 7,105 jobs through 140 projects and also retained its spot as the third largest source of FDI in the UK

A report by UK's Department of International Trade (DIT) reveals India has emerged as the second largest international job creator in the last fiancial year. India also retained its spot as the third largest source of foreign direct investment in the UK, Indian news agency PTI reported today quoting DIT. In 2015, Indian companies created 7,105 jobs through 140 projects the report revealed. While US created 25,694 jobs taking the lead, Germany came third with 5,291 jobs from 99 projects. Liam Fox, secretary of state for International trade said the UK has broadened its reach with emerging markets, on his three-day visit to India. India is also the third largest investor in bringing foreign direct investment (FDI) to the UK for the second time. China is ahead of India with 156 projects while the US provided 570 projects, becoming UK's largest source of inward investment. In 2015, there was a 65 per cent increase in foreign direct investment flow from India to the UK, creating 7,730 jobs and saving 1,620 more in th eyear 2014-15. Dominic Asquith, British high commissioner to India said, "With India we share a two way relationship of growth as the UK is also India’s largest G20 investor." Although the report has estimated job creation figures for the last financial year, there is some fear as to how Brexit will affect the outflow of FDI to the UK. (WION with inputs from PTI)

India second largest job creator in UK, says Department of International Trade

Tech giant Apple is all set for a major event scheduled for Wednesday where it will unveil&nbsp;its next iteration of iPhone model, iPhone 7.&nbsp; 
 
Ahead of the San Francisco launch, Apple&#39;s biggest event of the year, the American multinational technology company sent out &#39;ghost tweets&#39; from its otherwise dead account, the Independent reported on Monday. 
 
Mysterious Tweets? 
 
Reminding people of the big event, without letting them know that it is the company that is doing it, the company is sending out secret ghost tweets, the Independent report said.&nbsp; 
 
The full tweet reads: &quot;September 7 at 10 a.m. PDT. Watch the event on Apple.co/live. RT for a reminder on event day. #AppleEvent&quot;.&nbsp; 
 
However, when a user heads to Apple&#39;s official twitter handle @Apple a message appears informing the user that the &ldquo;company hasn&#39;t tweeted yet&rdquo;. 
 
<img alt="" class="img-responsive" src="http://s.wionews.com/photos/apple1-20160906053603.jpg" />
<div class="media-description">
When a user heads to Apple&#39;s official twitter handle @Apple a message appears informing the user that the &#39;company hasn&#39;t tweeted yet&#39;.
</div>
&nbsp; 
Apple&#39;s second gen smartwatch likely to be updated&nbsp; 
 
The California-based tech giant is also likely to put out an updated, second-generation smartwatch at the event. The improved version comes amid speculations that original hardware was not updated since its release last year.&nbsp; 
 
The event would also be a chance to showcase wireless headphones, perhaps some from Beats, which Apple bought two years ago in a deal valued at $3 billion. 
 
Meanwhile, the new iPhone model, that boasts faster chips, better cameras and an improved software has taken the tech-savvy lot by storm. The phone is also expected to do away with jacks for plugging in wired headphones, hence adding another feather to the cap.&nbsp; 
 
EU&#39;s case against Apple&nbsp; 
 
The European Union Commission had asked Apple to pay 13 billion euros of corporate income taxes to Ireland. The event on Wednesday comes as Apple tries to square it off with the EU. 
 
&ldquo;It&#39;s a total political crap,&rdquo; &nbsp;chief executive officer of Apple Tim Cook told the Irish Independent newspaper.&nbsp; 
 
&nbsp;The commission ruled that Apple had received favorable tax terms that amounted to state aid, illegal under its rules. 
 
Apple expects to repatriate billions of dollars of global profits to the United States next year, Cook told Irish national broadcaster RTE without providing specific figures. 
 
(WION with inputs from AFP)

The tech giant is expected to unveil its next iteration of iPhone along with second-generation smartwatch in San Francisco on Wednesday

Tech giant Apple is all set for a major event scheduled for Wednesday where it will unveil its next iteration of iPhone model, iPhone 7. Ahead of the San Francisco launch, Apple's biggest event of the year, the American multinational technology company sent out 'ghost tweets' from its otherwise dead account, the Independent reported on Monday. Mysterious Tweets? Reminding people of the big event, without letting them know that it is the company that is doing it, the company is sending out secret ghost tweets, the Independent report said. The full tweet reads: "September 7 at 10 a.m. PDT. Watch the event on Apple.co/live. RT for a reminder on event day. #AppleEvent". However, when a user heads to Apple's official twitter handle @Apple a message appears informing the user that the “company hasn't tweeted yet”. When a user heads to Apple's official twitter handle @Apple a message appears informing the user that the 'company hasn't tweeted yet'. Apple's second gen smartwatch likely to be updated The California-based tech giant is also likely to put out an updated, second-generation smartwatch at the event. The improved version comes amid speculations that original hardware was not updated since its release last year. The event would also be a chance to showcase wireless headphones, perhaps some from Beats, which Apple bought two years ago in a deal valued at $3 billion. Meanwhile, the new iPhone model, that boasts faster chips, better cameras and an improved software has taken the tech-savvy lot by storm. The phone is also expected to do away with jacks for plugging in wired headphones, hence adding another feather to the cap. EU's case against Apple The European Union Commission had asked Apple to pay 13 billion euros of corporate income taxes to Ireland. The event on Wednesday comes as Apple tries to square it off with the EU. “It's a total political crap,” chief executive officer of Apple Tim Cook told the Irish Independent newspaper. The commission ruled that Apple had received favorable tax terms that amounted to state aid, illegal under its rules. Apple expects to repatriate billions of dollars of global profits to the United States next year, Cook told Irish national broadcaster RTE without providing specific figures. (WION with inputs from AFP)

Apple readies for iPhone 7 launch event

The&nbsp;United Kingdom retail sales dropped 0.9 per cent this August compared to the same month last year on a like-to-like basis, a report by the British Retail Consortium (BRC) and KPMG said.&nbsp; 
 
&quot;On a total basis, sales declined 0.3 per cent, against a 0.1 per cent increase in August 2015. This is the weakest performance since September 2014, excluding Easter distortions. On a three-month basis, total UK retail sales rose 0.6 per cent, half the rate of the 12-month average of 1.2 per cent,&quot; the report states.&nbsp;The BRC survey measures an annual change in sales. &nbsp; 
 
According to BRC&ndash; KPMG Retail Sales Monitor September 2016,&nbsp;non-food sales rose to just 0.4 per cent in contrast to its 12-month average of 1.9 per cent. The food sales performed considerably better with an improved statistics of 0.9 per cent growth, its greatest increase since December 2013. Watches and jewellery were the best-performing categories. &nbsp; 
 
&quot;Consumers were enticed towards leisure and outdoor activities rather than shopping, although food did post its strongest performance in more than two years; fuelled by demand for picnic, barbeque supplies and celebratory drinks,&quot;&nbsp;Helen Dickinson, chief executive, British Retail Consortium said.&nbsp; 
 
&quot;Care should be taken in reading too much into August&#39;s lacklustre performance. As we&#39;ve seen in the last couple of months, data portending the health of the economy paint a volatile picture. The fact is that so far little has directly changed for the UK&#39;s consumers as a result of the referendum, so it&#39;s the pre-existing market dynamics that are still driving sales. The slowdown in real wage growth in the first half of 2016 and strong competition will continue to weigh on trend growth in total sales; whilst holiday timings, promotional and seasonal activity will contribute to fluctuations month on month,&quot; she said.&nbsp; 
 
Olympics and outdoor activities diverted shoppers&#39; attention, the study concluded.&nbsp; 
 
&quot;Sales of women&#39;s fashions performed particularly poorly, despite widespread promotions. The warmer weather made it almost too hot to shop and dissuaded shoppers from looking at the newly arrived autumn products. Despite this, jewellery sales continued to benefit from international shoppers taking advantage of the weaker pound. Whilst for those at home, some of whom may have opted for a staycation given the exchange rate, the warmer weather put wine and barbeques firmly on the menu &ndash; much to the delight of food and drinks sellers,&quot;&nbsp;David McCorquodale, head of retail, KPMG has been quoted as saying in the report.&nbsp; 
 
(WION)

Consumer spending sped up but the performance of retail sales was the weakest since September 2014, the report said

The United Kingdom retail sales dropped 0.9 per cent this August compared to the same month last year on a like-to-like basis, a report by the British Retail Consortium (BRC) and KPMG said. "On a total basis, sales declined 0.3 per cent, against a 0.1 per cent increase in August 2015. This is the weakest performance since September 2014, excluding Easter distortions. On a three-month basis, total UK retail sales rose 0.6 per cent, half the rate of the 12-month average of 1.2 per cent," the report states. The BRC survey measures an annual change in sales. According to BRC– KPMG Retail Sales Monitor September 2016, non-food sales rose to just 0.4 per cent in contrast to its 12-month average of 1.9 per cent. The food sales performed considerably better with an improved statistics of 0.9 per cent growth, its greatest increase since December 2013. Watches and jewellery were the best-performing categories. "Consumers were enticed towards leisure and outdoor activities rather than shopping, although food did post its strongest performance in more than two years; fuelled by demand for picnic, barbeque supplies and celebratory drinks," Helen Dickinson, chief executive, British Retail Consortium said. "Care should be taken in reading too much into August's lacklustre performance. As we've seen in the last couple of months, data portending the health of the economy paint a volatile picture. The fact is that so far little has directly changed for the UK's consumers as a result of the referendum, so it's the pre-existing market dynamics that are still driving sales. The slowdown in real wage growth in the first half of 2016 and strong competition will continue to weigh on trend growth in total sales; whilst holiday timings, promotional and seasonal activity will contribute to fluctuations month on month," she said. Olympics and outdoor activities diverted shoppers' attention, the study concluded. "Sales of women's fashions performed particularly poorly, despite widespread promotions. The warmer weather made it almost too hot to shop and dissuaded shoppers from looking at the newly arrived autumn products. Despite this, jewellery sales continued to benefit from international shoppers taking advantage of the weaker pound. Whilst for those at home, some of whom may have opted for a staycation given the exchange rate, the warmer weather put wine and barbeques firmly on the menu – much to the delight of food and drinks sellers," David McCorquodale, head of retail, KPMG has been quoted as saying in the report. (WION)

UK retail sales lowest since April, hot weather keeps shoppers away: British Retail Consortium

Pizza Hut&#39;s Indonesian operation has said its restaurants were safe after a joint investigation by magazine Tempo and BBC Indonesia alleged that Pizza Hut and Pizza Hut Delivery were using ingredients up to six months past their expiry date, AFP reported today.&nbsp; 
 
The investigation also revealed that it was a corporate policy at three restaurants to continue using ingredients for up to three months after the expiration date, said a report by Jakarta Coconuts. 
 
Puff pastry, vegetable sausage and carbonara sauce were amongst the ingredients that were being used past their expiry dates. 
&nbsp; 
The investigation also accused Japanese noodle chain Marugame Udon of using ingredients past their expiry date at its handful of outlets in Indonesia. 
 
Both Pizza Hut and Marugame Udon have denied the allegations. Pizza Hut said that some of its restaurants on the island of Java had been thoroughly inspected and health authorities found they met all the hygiene and sanitation standards.&nbsp; 
 
Stephen J McCarthy, president director of Sarimelati Kencana, also defended Pizza Hut, saying he was proud of the outlets&#39; kitchens. 
 
&quot;They&#39;re the cleanest Pizza Hut in the world.&nbsp;If somebody wants to visit our kitchens, you give me a call, I will personally take you,&quot; he said. 
 
(WION with inputs from AFP)

A joint investigation by magazine Tempo and BBC Indonesia had revealed the food chain was using ingredients up to 6 months past expiry

Pizza Hut's Indonesian operation has said its restaurants were safe after a joint investigation by magazine Tempo and BBC Indonesia alleged that Pizza Hut and Pizza Hut Delivery were using ingredients up to six months past their expiry date, AFP reported today. The investigation also revealed that it was a corporate policy at three restaurants to continue using ingredients for up to three months after the expiration date, said a report by Jakarta Coconuts. Puff pastry, vegetable sausage and carbonara sauce were amongst the ingredients that were being used past their expiry dates. The investigation also accused Japanese noodle chain Marugame Udon of using ingredients past their expiry date at its handful of outlets in Indonesia. Both Pizza Hut and Marugame Udon have denied the allegations. Pizza Hut said that some of its restaurants on the island of Java had been thoroughly inspected and health authorities found they met all the hygiene and sanitation standards. Stephen J McCarthy, president director of Sarimelati Kencana, also defended Pizza Hut, saying he was proud of the outlets' kitchens. "They're the cleanest Pizza Hut in the world. If somebody wants to visit our kitchens, you give me a call, I will personally take you," he said. (WION with inputs from AFP)

Pizza Hut Indonesia denies expired ingredients allegation

Singapore will step up the fight against money-laundering with a newly created surveillance unit and data tracking but private banks must take the lead, its chief financial regulator said today.&nbsp; 
 
Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) which also serves as the central bank, said financial institutions must set the right moral tone to help battle illicit fund flows. 
 
&quot;Boards and senior management in particular must send a clear signal that profits do not come before values and ethics, and compensation structures must motivate not only high performance but also right conduct,&quot; Menon told a forum with foreign correspondents. He declined to specifically address the 1MDB scandal in neighbouring Malaysia which has involved banks based in Singapore, denting the city-state&#39;s reputation. 
 
1MDB, or 1Malaysia Development Berhad, was launched by Malaysian Prime Minister Najib Razak in 2009 and closely overseen by him. 
 
Allegations of a vast international scheme of embezzlement and money-laundering involving billions of dollars of 1MDB money began to emerge two years ago. 
 
Singapore is the first country to take legal action against bankers linked to the scandal. 
 
&quot;We will make more robust risk assessments of financial institutions&rsquo; business activities, client profiles , geographical connections, transaction volumes and quality of controls,&quot; Menon said. He said technology that can process huge amounts of data and find tell-tale patterns will be used to monitor illicit fund flows and transactions.&nbsp; 
 
The MAS in August formally launched a unit to fight money laundering. 
 
In May it expelled Switzerland&#39;s BSI Bank for &quot;gross misconduct&quot; related to the Malaysian fund and recommended that six of its bankers face charges.&nbsp; 
 
Last month Singapore revealed it had seized nearly $180 million in assets through its investigations into suspected fraud and money-laundering linked to 1MDB. 
 
(AFP)

But, said its chief financial regulator, private banks must take the lead in battling illicit fund flows

Singapore will step up the fight against money-laundering with a newly created surveillance unit and data tracking but private banks must take the lead, its chief financial regulator said today. Ravi Menon, managing director of the Monetary Authority of Singapore (MAS) which also serves as the central bank, said financial institutions must set the right moral tone to help battle illicit fund flows. "Boards and senior management in particular must send a clear signal that profits do not come before values and ethics, and compensation structures must motivate not only high performance but also right conduct," Menon told a forum with foreign correspondents. He declined to specifically address the 1MDB scandal in neighbouring Malaysia which has involved banks based in Singapore, denting the city-state's reputation. 1MDB, or 1Malaysia Development Berhad, was launched by Malaysian Prime Minister Najib Razak in 2009 and closely overseen by him. Allegations of a vast international scheme of embezzlement and money-laundering involving billions of dollars of 1MDB money began to emerge two years ago. Singapore is the first country to take legal action against bankers linked to the scandal. "We will make more robust risk assessments of financial institutions’ business activities, client profiles , geographical connections, transaction volumes and quality of controls," Menon said. He said technology that can process huge amounts of data and find tell-tale patterns will be used to monitor illicit fund flows and transactions. The MAS in August formally launched a unit to fight money laundering. In May it expelled Switzerland's BSI Bank for "gross misconduct" related to the Malaysian fund and recommended that six of its bankers face charges. Last month Singapore revealed it had seized nearly $180 million in assets through its investigations into suspected fraud and money-laundering linked to 1MDB. (AFP)

Singapore to use data tracking against money laundering

Gold&nbsp;rose today&nbsp;as the dollar slid after a weaker-than-expected US&nbsp;jobs data trimmed expectations of a Federal Reserve rate hike in September.

US&nbsp;employment growth slowed more than expected in August after two straight months of robust gains and wages were tepid.

&quot;The disappointment in the nonfarm payrolls data has been translated into optimism for&nbsp;goldprices at the moment. We can expect prices to further rebound to $1,350 in a short-term,&quot; said Mark To, head of research at Hong Kong&#39;s Wing Fung Financial Group.

Spot&nbsp;gold&nbsp;was up about 0.2 per cent at $1,326.83 per ounce by 0652 GMT. The metal rose as much as over 1 per cent on Friday.

U.S.&nbsp;gold&nbsp;futures were up 0.3 per cent at $1,330.50.

&quot;Gold&nbsp;should continue to see interest support following Friday&#39;s jobs data as the chances of an interest rate rise in September pull back,&quot; MKS PAMP Group precious metals trader Sam Laughlin said in a note.

&quot;The support broadly sits around $1,315 - $1,320, while bulls will be looking for a break above $1,330,&quot; Laughlin said, adding that there was good buying interest from Japan on Monday.

Trading on Monday is expected to be quiet with the US&nbsp;out for the Labour Day holiday.

Spot&nbsp;gold&nbsp;may retrace to a support at $1,315 per ounce, as it failed to break a resistance at $1,330, according to Reuters technical analyst Wang Tao.

On Friday, Richmond Federal Reserve Bank President Jeffrey Lacker said the US&nbsp;economy appears strong enough to warrant significantly higher interest rates.

Wall Street&#39;s biggest banks are sticking to bets that the Fed will raise interest rates once this year, and the increase would most likely occur in December after a tepid employment report for August quashed most talk of a move as early as this month.

Hedge funds and money managers reduced their bullish stance in COMEX&nbsp;gold&nbsp;contracts in the week to Aug. 30 to the lowest in nearly three months, US&nbsp;Commodity Futures Trading Commission (CFTC) data showed on Friday.

&quot;Longs (positions) have been suffering from price correction and would be quite hard for them to sustain when prices are volatile. Speculators have to cut losses somehow,&quot; Wing Fung analyst To said.

The dollar&#39;s index against a basket of six major currencies was down 0.2 per cent at 95.664. A stronger greenback makes dollar-denominated&nbsp;gold&nbsp;more expensive for holders of other currencies.

Spot silver was mostly flat at $19.40 an ounce, hovering near a two-week high of $19.44 hit on Friday.
(Reuters) 
 
&nbsp;

US?employment growth slowed more than expected in August after two straight months of robust gains

Gold rose today as the dollar slid after a weaker-than-expected US jobs data trimmed expectations of a Federal Reserve rate hike in September. US employment growth slowed more than expected in August after two straight months of robust gains and wages were tepid. "The disappointment in the nonfarm payrolls data has been translated into optimism for goldprices at the moment. We can expect prices to further rebound to $1,350 in a short-term," said Mark To, head of research at Hong Kong's Wing Fung Financial Group. Spot gold was up about 0.2 per cent at $1,326.83 per ounce by 0652 GMT. The metal rose as much as over 1 per cent on Friday. U.S. gold futures were up 0.3 per cent at $1,330.50. "Gold should continue to see interest support following Friday's jobs data as the chances of an interest rate rise in September pull back," MKS PAMP Group precious metals trader Sam Laughlin said in a note. "The support broadly sits around $1,315 - $1,320, while bulls will be looking for a break above $1,330," Laughlin said, adding that there was good buying interest from Japan on Monday. Trading on Monday is expected to be quiet with the US out for the Labour Day holiday. Spot gold may retrace to a support at $1,315 per ounce, as it failed to break a resistance at $1,330, according to Reuters technical analyst Wang Tao. On Friday, Richmond Federal Reserve Bank President Jeffrey Lacker said the US economy appears strong enough to warrant significantly higher interest rates. Wall Street's biggest banks are sticking to bets that the Fed will raise interest rates once this year, and the increase would most likely occur in December after a tepid employment report for August quashed most talk of a move as early as this month. Hedge funds and money managers reduced their bullish stance in COMEX gold contracts in the week to Aug. 30 to the lowest in nearly three months, US Commodity Futures Trading Commission (CFTC) data showed on Friday. "Longs (positions) have been suffering from price correction and would be quite hard for them to sustain when prices are volatile. Speculators have to cut losses somehow," Wing Fung analyst To said. The dollar's index against a basket of six major currencies was down 0.2 per cent at 95.664. A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies. Spot silver was mostly flat at $19.40 an ounce, hovering near a two-week high of $19.44 hit on Friday. (Reuters)

Gold up in wake of weak US jobs data

Mining conglomerate Vedanta will invest up to $451 million (3000 crore Indian Rupees) in copper operations in India to double the capacity to 8 lakh tonnes by 2019, making the firm India&#39;s largest producer of the metal. 
 
The firm led by billionaire Anil Agrawal has a custom smelter, a refinery, phosphoric acid plant, sulphuric acid plant, copper rod plant and three captive power plants at Tuticorin in southern Indian state of Tamil Nadu as well as a refinery and two copper rod plants at Silvassa (Dadra and Nagar Haveli). 
 
&quot;We will invest 2,500-3,000 crore Indian Rupees in our copper operations to double the capacity from 400-kilogramme tonnes at present. This will happen by 2019,&quot; CEO of Vedanta&#39;s copper business R Ramnath told PTI. 
 
Copper, which accounts for over 30 per cent of Vedanta&#39;s total revenue, is an important industrial metal with extensive use in sectors such as power, telecom, consumer durables and electrical goods. 
 
The company has been granted around 250 acres of land by the Tamil Nadu state government in the special economic zone area in Titucorin, where it will set up another smelter of 400 kilo tonnes capacity, he added. 
 
After the addition of this facility, Vedanta will become India&#39;s largest copper producer. 
 
At present, India has a total copper capacity of 10 lakh tonnes, of which Hindalco accounts for 5 lakh tonnes followed by Vedanta (4 lakh tonnes) and state-run Hindustan Copper (1 lakh tonnes). 
 
In April-June quarter of 2016-17, Vedanta&#39;s revenue from copper business stood at $696 million, lower by 21 per cent year-on-year and 15 per cent sequentially. 
 
Production from the Tuticorin smelter stood at 100,000 tonnes of cathodes during the June quarter. 
 
The company said it expects the Tuticorin smelter to produce 4,00,000 tonnes of cathodes in 2016-17 fiscal, ending March 2017. 
 
(1 crore = 10 million ; 1 lakh = 100,000) 
 
(PTI) 
&nbsp;

After the addition of a facility in India's Tuticorin, Vedanta will become India's largest copper producer

Mining conglomerate Vedanta will invest up to $451 million (3000 crore Indian Rupees) in copper operations in India to double the capacity to 8 lakh tonnes by 2019, making the firm India's largest producer of the metal. The firm led by billionaire Anil Agrawal has a custom smelter, a refinery, phosphoric acid plant, sulphuric acid plant, copper rod plant and three captive power plants at Tuticorin in southern Indian state of Tamil Nadu as well as a refinery and two copper rod plants at Silvassa (Dadra and Nagar Haveli). "We will invest 2,500-3,000 crore Indian Rupees in our copper operations to double the capacity from 400-kilogramme tonnes at present. This will happen by 2019," CEO of Vedanta's copper business R Ramnath told PTI. Copper, which accounts for over 30 per cent of Vedanta's total revenue, is an important industrial metal with extensive use in sectors such as power, telecom, consumer durables and electrical goods. The company has been granted around 250 acres of land by the Tamil Nadu state government in the special economic zone area in Titucorin, where it will set up another smelter of 400 kilo tonnes capacity, he added. After the addition of this facility, Vedanta will become India's largest copper producer. At present, India has a total copper capacity of 10 lakh tonnes, of which Hindalco accounts for 5 lakh tonnes followed by Vedanta (4 lakh tonnes) and state-run Hindustan Copper (1 lakh tonnes). In April-June quarter of 2016-17, Vedanta's revenue from copper business stood at $696 million, lower by 21 per cent year-on-year and 15 per cent sequentially. Production from the Tuticorin smelter stood at 100,000 tonnes of cathodes during the June quarter. The company said it expects the Tuticorin smelter to produce 4,00,000 tonnes of cathodes in 2016-17 fiscal, ending March 2017. (1 crore = 10 million ; 1 lakh = 100,000) (PTI)

Vedanta to invest $451 million to double copper capacity

The Yen rose today as Bank of Japan chief, Haruhiko Kuroda left the markets guessing the central bank&#39;s policy plans 
 
Japan&#39;s top banker promised to release fresh measures if necessary while addressing a business seminar in Tokyo.&nbsp; 
 
He held off talks of scaling back on BOJ&#39;s easing measures and recognised the drawback of the bank&#39;s negative rate policy.&nbsp; 
 
It was designed to encourage lending but has hurt commercial banks&#39; profits. 
 
He&nbsp;however, gave some solid hints about the central bank&#39;s plans to oppose a slowing economy. 
 
Meanwhile, in Tokyo afternoon trade the Dollar fell to 103.44 Yen from 103.99 Yen in New York, while the Euro came down to 115.58 Yen from 116.02 Yen in US trade on Friday. 
 
The Bank of Japan&#39;s next policy meeting is September 20. 
 
Bloomberg News quoted Yousuke Hosokawa, head of foreign-exchange sales at Sumitomo Mitsui Trust Bank,&quot;While Kuroda denied any speculation about tapering, he spurred some disappointment for those looking for clear clues on policy action this month.&quot; 
 
&quot;With markets losing direction after the US jobs data fell short of adding fuel to US rate hike expectations this month, Kuroda&rsquo;s comments were neither supportive for aggressive selling nor for buying of the Dollar,&quot; he said. 
 
The US Labor department on Friday, released US jobs data figures, revealing the economy created 151,000 net jobs in August, lower than the expected 180,000. 
 
Analysts were confused on whether the number was enough for the US Federal Reserve to raise interest rates this month. 
 
The Euro ticked up to $1.1172 from $1.1156 AFP reported. 
 
The Dollar weakened against most other Asia-Pacific currencies, including the Indonesian Rupiah, Taiwan Dollar and South Korean Won. 
 
(WION with inputs from AFP) 
 
 
 
 
&nbsp;

While the Yen rose the Dollar weakened against other Asia-Pacific currencies

The Yen rose today as Bank of Japan chief, Haruhiko Kuroda left the markets guessing the central bank's policy plans Japan's top banker promised to release fresh measures if necessary while addressing a business seminar in Tokyo. He held off talks of scaling back on BOJ's easing measures and recognised the drawback of the bank's negative rate policy. It was designed to encourage lending but has hurt commercial banks' profits. He however, gave some solid hints about the central bank's plans to oppose a slowing economy. Meanwhile, in Tokyo afternoon trade the Dollar fell to 103.44 Yen from 103.99 Yen in New York, while the Euro came down to 115.58 Yen from 116.02 Yen in US trade on Friday. The Bank of Japan's next policy meeting is September 20. Bloomberg News quoted Yousuke Hosokawa, head of foreign-exchange sales at Sumitomo Mitsui Trust Bank,"While Kuroda denied any speculation about tapering, he spurred some disappointment for those looking for clear clues on policy action this month." "With markets losing direction after the US jobs data fell short of adding fuel to US rate hike expectations this month, Kuroda’s comments were neither supportive for aggressive selling nor for buying of the Dollar," he said. The US Labor department on Friday, released US jobs data figures, revealing the economy created 151,000 net jobs in August, lower than the expected 180,000. Analysts were confused on whether the number was enough for the US Federal Reserve to raise interest rates this month. The Euro ticked up to $1.1172 from $1.1156 AFP reported. The Dollar weakened against most other Asia-Pacific currencies, including the Indonesian Rupiah, Taiwan Dollar and South Korean Won. (WION with inputs from AFP)

Bank of Japan chief leaves market confused over policy plans

Euro zone business growth was at its weakest since the start of last year in August, suggesting the bloc&#39;s already struggling economy is losing what little momentum it had, a survey showed on Monday. 
 
The slow growth came as firms offered deeper discounts despite rising input costs, adding to policymakers&#39; concerns. 
 
Markit&#39;s final composite Purchasing Managers&#39; Index (PMI) for Euro zone was 52.9 in August, below a flash estimate of 53.3 and July&#39;s 53.2. That was its lowest since January 2015 but it has been above the 50 mark that divides growth from contraction since mid-2013. 
 
Chris Williamson, chief business economist at IHS Markit said, &quot;While the overall picture is one of steady but sluggish 0.3 per cent growth in the third quarter, the revised figures indicate that the economy is losing rather than gaining momentum.&rdquo; 
 
At just 0.2 per cent in August inflation is nowhere near the ECB&#39;s 2 per cent target ceiling and the composite output price fell to 49.3 last month, under July&#39;s 49.8. 
 
&quot;Inflationary pressures are also cooling amid intense competition. The survey data will fuel expectations that the ECB would prefer not to wait before injecting more stimulus into the economy,&quot; Williamson said. 
 
Growth in the bloc&#39;s dominant service industry also declined. Its PMI was 52.8, matching June&#39;s 17-month low and below July&#39;s 52.9 and flash estimate of 53.1. 
 
With the outlook somewhat bleak, optimism among service firms was at its gloomiest since late 2014. The business expectations index registered 60.7, down from 60.9 in July. 
 
( Reuters)

The slow growth came as firms offered deeper discounts despite rising input costs, adding to policymakers' concerns

Euro zone business growth was at its weakest since the start of last year in August, suggesting the bloc's already struggling economy is losing what little momentum it had, a survey showed on Monday. The slow growth came as firms offered deeper discounts despite rising input costs, adding to policymakers' concerns. Markit's final composite Purchasing Managers' Index (PMI) for Euro zone was 52.9 in August, below a flash estimate of 53.3 and July's 53.2. That was its lowest since January 2015 but it has been above the 50 mark that divides growth from contraction since mid-2013. Chris Williamson, chief business economist at IHS Markit said, "While the overall picture is one of steady but sluggish 0.3 per cent growth in the third quarter, the revised figures indicate that the economy is losing rather than gaining momentum.” At just 0.2 per cent in August inflation is nowhere near the ECB's 2 per cent target ceiling and the composite output price fell to 49.3 last month, under July's 49.8. "Inflationary pressures are also cooling amid intense competition. The survey data will fuel expectations that the ECB would prefer not to wait before injecting more stimulus into the economy," Williamson said. Growth in the bloc's dominant service industry also declined. Its PMI was 52.8, matching June's 17-month low and below July's 52.9 and flash estimate of 53.1. With the outlook somewhat bleak, optimism among service firms was at its gloomiest since late 2014. The business expectations index registered 60.7, down from 60.9 in July. ( Reuters)

Euro zone business growth at slowest since start of 2015: PMI

Crude oil futures rose sharply on Monday amid renewed speculation that major producers including Saudi Arabia and Russia could cooperate to tackle weak prices and rein in oversupply. 
 
Brent crude futures for November delivery were up $2.09 per barrel at $48.92 a barrel at 0902 GMT. 
 
US crude for October delivery was up $1.70 a barrel at $46.14 a barrel. 
 
Saudi Arabia and Russia later on Monday are due to make a joint statement during the G20 summit in China calling for cooperation to support oil markets, several sources with knowledge of the matter said. 
 
One of the sources added Russia would likely attend the upcoming meeting of the Organisation of the Petroleum Exporting Countries which will be held in Vienna in November. 
 
This comes after Saudi deputy crown prince told Russian President Vladimir Putin on the sidelines of the same summit that cooperation between the two countries would bring benefit to the global oil market. 
 
Saudi energy minister Khalid al-Falih will make a &quot;significant announcement&quot; at a news conference at 0930 at the summit. 
 
&quot;Verbal intervention was again needed to trigger a recovery towards $50,&quot; senior ABN Amro economist Hans van Cleef said. 
 
&quot;After all, if prices remain too low ahead of the meeting, there is a risk that at some point Russia and Saudi Arabia actually need to act. That would probably be the last thing they want as long as Iran is raising output.&quot; 
 
Brent rallied to above $50 a barrel in late August, helped by growing talk of a coordinated production freeze, but prices have since fallen as few believe OPEC will act. 
 
Russian Energy Minister Alexander Novak has said that an oil production freeze would be one of the issues discussed by crude producers later this month in Algeria. 
 
Iran, OPEC&#39;s third largest producer, has said it would only cooperate in talks to freeze output if fellow exporters recognised its right to fully regain market share. 
 
Iran is ready to raise its output to 4 million barrels per day in a couple of months depending on market demand, a senior official from the National Iranian Oil Company said. 
 
&quot;Even if successful, an OPEC freeze would likely be a short-term positive but a medium-term negative for oil prices,&quot; Morgan Stanley analysts wrote in a note. 
 
(Reuters)

Brent crude futures for November delivery were up $2.09 per barrel at $48.92 a barrel

Crude oil futures rose sharply on Monday amid renewed speculation that major producers including Saudi Arabia and Russia could cooperate to tackle weak prices and rein in oversupply. Brent crude futures for November delivery were up $2.09 per barrel at $48.92 a barrel at 0902 GMT. US crude for October delivery was up $1.70 a barrel at $46.14 a barrel. Saudi Arabia and Russia later on Monday are due to make a joint statement during the G20 summit in China calling for cooperation to support oil markets, several sources with knowledge of the matter said. One of the sources added Russia would likely attend the upcoming meeting of the Organisation of the Petroleum Exporting Countries which will be held in Vienna in November. This comes after Saudi deputy crown prince told Russian President Vladimir Putin on the sidelines of the same summit that cooperation between the two countries would bring benefit to the global oil market. Saudi energy minister Khalid al-Falih will make a "significant announcement" at a news conference at 0930 at the summit. "Verbal intervention was again needed to trigger a recovery towards $50," senior ABN Amro economist Hans van Cleef said. "After all, if prices remain too low ahead of the meeting, there is a risk that at some point Russia and Saudi Arabia actually need to act. That would probably be the last thing they want as long as Iran is raising output." Brent rallied to above $50 a barrel in late August, helped by growing talk of a coordinated production freeze, but prices have since fallen as few believe OPEC will act. Russian Energy Minister Alexander Novak has said that an oil production freeze would be one of the issues discussed by crude producers later this month in Algeria. Iran, OPEC's third largest producer, has said it would only cooperate in talks to freeze output if fellow exporters recognised its right to fully regain market share. Iran is ready to raise its output to 4 million barrels per day in a couple of months depending on market demand, a senior official from the National Iranian Oil Company said. "Even if successful, an OPEC freeze would likely be a short-term positive but a medium-term negative for oil prices," Morgan Stanley analysts wrote in a note. (Reuters)

Oil jumps amid talk of producer action to support prices

The European Commission has found that Volkswagen broke consumer laws in 20 European Union countries by cheating on emissions tests, German daily Die Welt reported, citing Commission sources. 
 
Consumer Sales and Guarantees Directive are among the laws broken by the German automaker, which prohibits companies from touting exaggerated environmental claims in their sales pitches, and the Unfair Commercial Practises Directive, both of which apply across the EU, the paper said. 
 
The European Commission said Industry Commissioner Elzbieta Bienkowska has repeatedly invited Volkswagen to consider compensating consumers voluntarily, but the response from the carmaker was not very encouraging. 
 
It also added that it was for national courts to determine whether consumers were legally entitled to compensation. 
 
A Commission spokeswoman said Consumer Commissioner Vera Jourova had written to consumer associations across the EU to collect information in order to ensure that consumers are treated fairly.&nbsp; 
 
The spokeswoman said, &quot;She will meet relevant representatives in Brussels this week.&rdquo; 
 
Jourova has been working with consumer groups to pressure Volkswagen to compensate clients in Europe as it has in the United States over the diesel emissions scandal last year. 
 
In September last year, the Environmental Protection Agency (EPA) found that many VW cars in America had a &quot;defeat device&quot;, or software, in diesel engines that could detect when they were being tested, changing the performance accordingly to improve results. 
 
Volkswagen has pledged billions of euros to compensate owners of VW diesel-powered cars&nbsp;but has so far rejected calls for similar payments for the 8.5 million affected vehicles in Europe, where different legal rules weaken the chances of winning a pay out. 
 
Jourova told Die Welt that she was still analysing feedback from the member states. 
 
Die Welt cited sources as saying that Jourova would meet with representatives of the consumer protection groups in the coming days to discuss a strategy for claiming compensation from Volkswagen. 
 
(WION with inputs from Reuters)

It said the industry commissioner has repeatedly invited VW to compensate consumers voluntarily but the response was not encouraging

The European Commission has found that Volkswagen broke consumer laws in 20 European Union countries by cheating on emissions tests, German daily Die Welt reported, citing Commission sources. Consumer Sales and Guarantees Directive are among the laws broken by the German automaker, which prohibits companies from touting exaggerated environmental claims in their sales pitches, and the Unfair Commercial Practises Directive, both of which apply across the EU, the paper said. The European Commission said Industry Commissioner Elzbieta Bienkowska has repeatedly invited Volkswagen to consider compensating consumers voluntarily, but the response from the carmaker was not very encouraging. It also added that it was for national courts to determine whether consumers were legally entitled to compensation. A Commission spokeswoman said Consumer Commissioner Vera Jourova had written to consumer associations across the EU to collect information in order to ensure that consumers are treated fairly. The spokeswoman said, "She will meet relevant representatives in Brussels this week.” Jourova has been working with consumer groups to pressure Volkswagen to compensate clients in Europe as it has in the United States over the diesel emissions scandal last year. In September last year, the Environmental Protection Agency (EPA) found that many VW cars in America had a "defeat device", or software, in diesel engines that could detect when they were being tested, changing the performance accordingly to improve results. Volkswagen has pledged billions of euros to compensate owners of VW diesel-powered cars but has so far rejected calls for similar payments for the 8.5 million affected vehicles in Europe, where different legal rules weaken the chances of winning a pay out. Jourova told Die Welt that she was still analysing feedback from the member states. Die Welt cited sources as saying that Jourova would meet with representatives of the consumer protection groups in the coming days to discuss a strategy for claiming compensation from Volkswagen. (WION with inputs from Reuters)

EU finds Volkswagen broke consumer laws in 20 countries: Report

British Prime Minister Theresa May warned of possible &quot;difficult times ahead&quot; for Britain&#39;s economy as she arrived at the G20 summit of world leaders in China on Saturday.&nbsp; 
 
She said there may be difficult times ahead, but also voiced her optimism about Britain&rsquo;s health. 
 
&quot;I&#39;m not going to pretend that it&#39;s all going to be plain sailing,&quot; she said. &quot;I think we must be prepared for the fact that there may be some difficult times ahead. But what I am is optimistic.&quot; 
 
May also confirmed Downing Street briefings that she is not intending to call a general election soon. 
 
&quot;I&#39;m not going to be calling a snap election,&quot; May said.&nbsp; 
 
She added, &quot;I&#39;ve been very clear that I think we need that period of time, that stability, to be able to deal with the issues that the country is facing and have that election in 2020.&quot; 
 
May is meeting world leaders including US President Barack Obama and China&#39;s Xi Jinping at the G20 summit in China. 
 
She had been hoping to pitch the UK as a global leader in free trade during her first major outing on the world stage at the G20 summit. 
 
But, she was faced with a difficult start.&nbsp; 
 
President Barack Obama said the UK would not be the priority for a US trade deal and Japan issued an unprecedented 15-page warning about the consequences of Brexit. 
 
(WION with inputs from agencies)

May said, 'I think we must be prepared for the fact that there may be some difficult times ahead. But what I am is optimistic'

British Prime Minister Theresa May warned of possible "difficult times ahead" for Britain's economy as she arrived at the G20 summit of world leaders in China on Saturday. She said there may be difficult times ahead, but also voiced her optimism about Britain’s health. "I'm not going to pretend that it's all going to be plain sailing," she said. "I think we must be prepared for the fact that there may be some difficult times ahead. But what I am is optimistic." May also confirmed Downing Street briefings that she is not intending to call a general election soon. "I'm not going to be calling a snap election," May said. She added, "I've been very clear that I think we need that period of time, that stability, to be able to deal with the issues that the country is facing and have that election in 2020." May is meeting world leaders including US President Barack Obama and China's Xi Jinping at the G20 summit in China. She had been hoping to pitch the UK as a global leader in free trade during her first major outing on the world stage at the G20 summit. But, she was faced with a difficult start. President Barack Obama said the UK would not be the priority for a US trade deal and Japan issued an unprecedented 15-page warning about the consequences of Brexit. (WION with inputs from agencies)

May warns of 'difficult times' for UK economy