Europe

Samsung

Samsung and Springer: New partners in mobile media

A new joint venture had been announced Tuesday between Bild tabloid publisher Axel Springer and Korean electronics group Samsung, for mobile media including news.

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Russian Pres. Vladimir Putin

Russia cracks down on foreign internet firms

Russia has come up with a new law that empowers the government to not only block websites but also orders them to share data of Russian citizens.

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Greece

Greece elections: Clear mandate holds the key on $96-bn bailout package

Greece is set for elections on 20 September this year. Judge Vassiliki Thanou is the care taker Prime Minister till the new government is formed. Thanou was sworn in on last Friday and became the first female Prime Minister for Greece.

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Recycling

Europe is far behind in its electronic waste recycling target

A study conducted by Interpol and the United Nations said that only 33% of Europe's electronic wastes is correctly recycled. A large number of these electronic wastes include computers, cellphones and televisions that are dumped or traded illegally.

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Caparo T1

Formula One Teams Burn up $300 Million of Debt, 64.2% from Lotus

The ten teams in Formula One auto racing are under a total debt of $318.2 million, and 64.2% of that belongs to Lotus. Lotus belongs to Genii Capital, a private equity firm founded by Skype investor Gerard Lopez. Creditors have been going after Lotus for the last several months. Its cars were almost impounded during the Belgian Grand Prix last weekend after former reserve driver Charles Pic filed a legal dispute.

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Greece

Athens goes for gas grid privatization

The crisis-hit European nation Greece is heading towards privatization of its energy sector. The country is also in favor of reforms in several sectors to give a new life to the ailing economy.

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Aparna Chennapragada

Mobile TeleSystems tied up with Google for a voice command mobile internet service in Russia

Russia's Mobile TeleSystems (MTS) partnered with Google to improve its mobile internet service. The deal will highlight Google Now voice search, advertising and promoting it on MTS outlets. The voice command app would be pre-installed on Android devices available on MTS retail chains.

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Saipem

Italian oil explorer Eni discovers 'supergiant' gas field off Egyptian coast

It appears that a supergiant gas field was recently discovered in an Egyptian coast by an Italian oil group called 'Eni'. According to a recent report by Telegraph, "a supergiant gas field holding the equivalent of 5.5 billion barrels of oil has been discovered off the coast of Egypt, the largest ever find in the Mediterranean."

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Angry Birds

Angry Birds maker to cut workforce by 39%

Mobile-games company Rovio is cutting its global workforce by 39% to focus on a few products that make more money. This is the second time the Angry Birds maker has announced job cuts in less than a year.

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Punch Taverns

Punch Taverns sells 158 pubs to NewRiver; Deal Closed at £53.5M

Punch Taverns decides to sell 158 of its pubs to NewRiver for an agreed sum of £53.5 million. The decision to sell off its non-core businesses is in line with their goal to take care of its accumulated debts.

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London protest against austerity and spending cuts

Lloyds and Royal Bank of Scotland takes beating during plunge in stock market; Government seeks privatization

As the onslaught of the stock market tumult continues to wreak havoc on some of Britain's banks, Lloyds and Royal Bank of Scotland lost almost £3 billion from their value.

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Russian rouble

Foreign trade, medium-sized entrepreneurs, and powerhouses are the key to a healthier UK economy

Since European Union's economy is finally recovering, a noted economist proposes three significant areas that U.K. officials should focus on to sustain its growth: medium-sized businesses, overseas trade and linking of geographic powerhouses to maintain the economic model.

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Central London

Currency carnage melting down London property boom

The London property market that's been a favorite global hotspot for years, is fast losing its sheen as British pound becomes stronger, while emerging economies currencies are turning out to be weaker.

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BHS (British Home Store)

New BhS owners are looking for £70M to finance revival

Retail Acquisitions, the new owner of department store chain BhS seeks for funding of 70 million pounds several months after buying it. The new owners are now talking with prospect providers for additional funds that would help them transform the iconic brand.

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David Sproul

Deloitte's partners report average earning of GBP822k

The 'Big Four' accounting firm Deloitte's partners on an average posted earnings of GBP 822,000 for 2014. Deloitte's partners numbering 721 recorded a 9.6 percent growth as their average earning was up from GBP 750,000 in 2013 to GBP822,000 in 2014, according to the UK arm of the accounting firm.

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