Business

5300 jobs at risk as Poundworld set to appoint administrators

5300 jobs at risk as Poundworld set to appoint administrators

Poundworld is the latest retailer to feel the impact of the high street woes, and on the brink of administration. The administration will be handled by Poundworld's advisers Deloitte. The retailer was hit with a £5.7 million charge for onerous leases, a provision retailers make when the cost of a lease is no longer covered by the income of the store.


Google's Sundar Pichai to stop AI weapon project

Google's Sundar Pichai to stop AI weapon project

Google also claimed it would "avoid" making "unfair biases", including political and religious biases through its A.I. algorithms. The rules , laid out by CEO Sundar Pichai, don't take a strong or controversial stand on the values that should underpin its technology: The ideal Google AI algorithm is socially beneficial, unbiased, tested for safety, accountable, private, and scientifically rigorous.


Venezuela Urges OPEC to Unite Against Sanctions

Venezuela Urges OPEC to Unite Against Sanctions

Crude prices came under pressure after data suggested Chinese demand was waning and concerns lingered about growing USA output. Despite Friday's falls, Brent remains more than 15 percent above its level at the start of the year.US investment bank Jefferies said on Friday that the "crude market is tight and spare capacity could dwindle to 2 percent of demand in 2H18, its lowest level since at least 1984".


Egypt's trade deficit climbs to $3.4B in March

Egypt's trade deficit climbs to $3.4B in March

The U.S. trade deficit narrowed in April as petroleum and natural gas made up for falling imports. The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.0 billion to $68.3 billion and a decrease in the services surplus of less than $0.1 billion to $22.1 billion.


United Kingdom proposes new Brexit deal to avoid hard border in Ireland

United Kingdom proposes new Brexit deal to avoid hard border in Ireland

Under the new backstop proposals, if no agreement on customs has been implemented by the end of 2020, a temporary arrangement would ensure that no "tariffs, quotas, rules of origin (or) customs processes" applied to UK-EU trade. The EU's chief Brexit negotiator was giving his first substantial reaction to the U.K.'s alternative "backstop" proposal to avoid a hard border in Northern Ireland if negotiators fail to reach agreement.



EU Announces New Tariffs On Dozens Of Goods From The US

Donald Trump is due to fly into Quebec on Friday morning for a G7 meeting which, even before it has begun, is already on the way to being the most acrimonious in the summit's history. Kudlow said allies should understand that Trump "will do what is necessary to protect the US, its businesses and its workforce", adding that Trump "has always said, and I agree, tariffs are a tool in that effort".