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Jim Bridenstine, NASA Administrator, and Tory Bruno, President and CEO, United Launch Alliance, speak to the media after the United Launch Alliance Atlas V rocket, topped by a Boeing CST-100 Starliner spacecraft, had an incident after lifting off from Space Launch Complex pad 41 in Cape Canaveral, Florida, on Friday. — AFP
Boeing's Starliner heads for home after failing mission
CAPE CANAVERAL, Florida — Boeing's Starliner spacecraft failed Friday in its main objective of docking with the International Space Station after a glitch involving its mission clock caused it to burn too much fuel, officials said.The autonomously flown test flight was a key part of NASA's plans to end US dependence on Russia for space rides, and its failure deals a fresh reputational blow to Boeing as it faces a safety crisis in its commercial air division.Starliner, which sits atop a giant Atlas V rocket, took off shortly before sunrise at 6:36 a.m. local time (1136 GMT) from Cape Canaveral, separating 15 minutes later.But a short time later, Boeing announced on Twitter it had an "off-nominal insertion," indicating its orbital procedure had not gone as planned, as...
December 20, 2019

Boeing's Starliner heads for home after failing mission

Chief Executive Officer of the Financial Conduct Authority Andrew Bailey leaves 10 Downing Street in central London in this Sept. 5, 2019 file photo. — AFP
Andrew Bailey named as Bank of England governor
LONDON — Britain on Friday named Andrew Bailey, head of the Financial Conduct Authority regulator, as governor of the Bank of England to help guide the economy through any Brexit fallout."I am delighted to announce that the next governor of the Bank of England will be Andrew Bailey," said Finance Minister Sajid Javid, adding that the former BoE deputy will succeed Mark Carney on March 16."Without question, he is the right person to lead the bank as we forge a new future outside the EU."The 60-year-old Briton, who has spent most of his career at the BoE, will have the heavy task of conducting the country's monetary policy at the time of its exit from the European Union — promised by new Prime Minister Boris Johnson by Jan. 31.Canada-born Carney — who steps down...
December 20, 2019

Andrew Bailey named as Bank of England governor

Former France Telecom CEO Didier Lombard, right, arrives at Paris Courthouse on Friday for the ruling in France Telecom trial over series of suicides. — AFP
After suicides, France Telecom ex-bosses get jail terms for 'harassment'
PARIS — A French court on Friday found the former CEO and other executives at France Telecom guilty of "institutional harassment" after the company was rocked by dozens of suicides during a vast corporate restructuring.In the first ruling of its kind against a blue-chip French company, presiding judge Cecile Louis-Loyant said managers used "forbidden" methods to create "a climate of anxiety" in reaching the goal of cutting one in five jobs — 22,000 in total — within three years.Presenting many of the departures as voluntary was "nothing but window-dressing," it added.Thirty-five employees at the former state monopoly took their own lives in 2008 and 2009, an episode that sparked demands for action against "moral harassment" by bosses...
December 20, 2019

After suicides, France Telecom ex-bosses get jail terms for 'harassment'

A production line employee works at the AMES Companies shovel manufacturing factory in Camp Hill, Pennsylvania, in this June 29, 2017 file photo. — Courtesy photo
US GDP growth unrevised in 3rd quarter at 2.1%
WASHINGTON — US officials on Friday confirmed their picture of moderate but steady economic growth in the third quarter of this year, while estimated investments by companies improved slightly.Amid low unemployment and steady job growth, the numbers should offer some comfort to President Donald Trump as he embarks on a tumultuous reelection campaign while working to resolve a damaging trade war with China.GDP growth in the July-September period advanced at an annual rate of 2.1 percent, according to the Commerce Department's third estimate, matching the estimate produced last month.Growth in the third quarter was a notch faster than in the second quarter, avoiding a drop-off that economists had initially feared.The Commerce Department's latest snapshot of the world's largest...
December 20, 2019

US GDP growth unrevised in 3rd quarter at 2.1%

Gross domestic product rebounded by 0.4 percent in the July-September period, according to a final estimate from the Office for National Statistics (ONS), which cited a boost from net trade. — AFP
UK's Brexit-facing economy rebounds to avoid recession
LONDON — Britain's Brexit-facing economy avoided recession in the third quarter with stronger growth than previously thought, official data showed on Friday.Gross domestic product rebounded by 0.4 percent in the July-September period, according to a final estimate from the Office for National Statistics (ONS), which cited a boost from net trade.That marked a modest upgrade from the prior figure of 0.3 percent, and followed 0.2-percent shrinkage in the second quarter. Another contraction would have placed the economy in a technical recession."This follows volatility in the first half of the year, which largely reflected changes in the timing of activity related to the UK's original planned exit date from the European Union," the ONS said.Analysts also sounded a note of...
December 20, 2019

UK's Brexit-facing economy rebounds to avoid recession

A start-up prescription for the Gulf
BAHRAIN — Since the dawn of medicine, physicians have understood that all treatments don’t work for everybody. Indeed, an ancient therapeutic axiom advises healers to treat the patient and not the disease. New advances in genetic and medical technology will enable doctors to apply that idea in unprecedented ways — and the Gulf’s healthcare sector could stand to benefit as personalized medicine becomes the norm.Personalized medicine or theranostics is the tailoring of medical treatments to each individual — or sometimes, a group of similar individuals — in line with their unique molecular and genetic profiles. Through a combination of pharmacology, genomics and digital technology, the approach aims to provide patients with the right drug at the right stage of an illness, as well...
December 20, 2019

A start-up prescription for the Gulf

STC Launches its Unified Brand Identity in KSA, Kuwait and Bahrain
Amal AlsaeedRiyadh — STC today launched its new unified brand identity in Saudi Arabia, Kuwait and Bahrain to enhance its performance and role as a leading digital enabler in the region, and set forth on a new journey.Since its establishment in 1998, which marked a milestone in the communications and technology sector, STC set the record over the past 21 years for success in privatization and expansion projects in Saudi Arabia and the region. On this occasion, stc announced new offers for its customers, including free international roaming in Saudi Arabia, Kuwait and Bahrain, 10GB of data free and 100 free international call minutes in all three countries.“STC's new brand identity marks a new journey in digital services we are embarking on to enrich the lives of our customers and...
December 19, 2019

STC Launches its Unified Brand Identity in KSA, Kuwait and Bahrain

A view of the Bank of England building in central London on Feb. 7, 2019. — AFP
Bank of England launches eavesdropping probe
LONDON — The Bank of England launched a probe Thursday after discovering some investors eavesdropped on press briefings moments before they were broadcast, reportedly to hand a split-second advantage to high-speed traders.The Times newspaper reported that one of the BoE's suppliers had been sending a market-sensitive audio feed of the bank's press conferences to hedge funds moments before the rest of the world.The BoE, which will announce its latest interest rate decision at 1200 GMT, responded in a brief statement that it has identified the feed that had been misused by a third-party supplier — and whose access had now been revoked."Following concerns raised with the bank, we have recently identified that an audio feed of certain of the bank press conferences —...
December 19, 2019

Bank of England launches eavesdropping probe

The US rental site Airbnb logo is displayed during the company's press conference in Tokyo in this June 14, 2018 file photo. — AFP
ECJ says France can't make Airbnb register as estate agent
LUXEMBOURG — Online short-term rental platform Airbnb scored a victory against French hoteliers on Thursday when the European Court of Justice ruled that the US giant is not an estate agent.The ECJ ruled that Airbnb can be considered "an 'information society service', distinct from the subsequent service to which it relates."The French hotel industry lobby had brought the case arguing that Airbnb operates as a property rental firm and should be regulated as such under French law.But the ruling states that France did not notify the European Commission under the EU directive on electronic commerce of any requirements for rental platforms.The hoteliers' association AHTOP had launched a case against Airbnb's EU-based subsidiary Airbnb Ireland.French lawyers argued...
December 19, 2019

ECJ says France can't make Airbnb register as estate agent

Governor of Sveriges Riksbank, the central bank of Sweden, Stefan Ingves speaks during a press conference at the Riksbank headquarters in Stockholm, Sweden, on Thursday. — AFP
Sweden exits negative interest rates after five years
STOCKHOLM — Sweden's central bank announced on Thursday it was raising its main interest rate by 0.25 percentage points to zero percent, becoming the first country to end its experiment with negative interest rates.The Riksbank said in a statement that given that inflation was near its target of two percent, and was likely to stay that way, it had decided to hike the repo rate.In early 2015 the Riksbank, which is the world's oldest central bank, lowered its guiding interest rate to -0.10 percent for the first time, and had kept it in negative territory since.A number of central banks have adopted negative interest rates, which means they charge commercial banks for holding their reserves in order to encourage lending to the real economy to boost sluggish economies and ward off...
December 19, 2019

Sweden exits negative interest rates after five years

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