US manufacturing giant General Electric has agreed a deal with Chinese technology and smartphone giant Huawei to help it improve production.GE hopes that by connecting all areas within a production process via the internet it can improve productivity, lower costs and reduce emissions.It predicts that the improvements will help it to save $500m (381m pound) this year.Both sides see the concept as a key step towards "smart manufacturing."Shenzhen-based Huawei is one of the world’s biggest smartphone vendors behind Apple and Samsung.Huawei’s managing director, William Xu, said it was &q...
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Tonight’s vote in the House of Commons was 472 for and 117 against, a government majority of 355.Prime Minister Theresa May urged MPs to back renewing the nukes – and confirmed that she would be prepared to press the nuclear button.Asked directly if she would be willing to “to authorise a nuclear strike that can kill a hundred thousand innocent men, women and children?” Mrs May said with steely determination: “Yes.”She said: “The whole point of a deterrent is that our enemies need to know that we would be prepared to use it.”The UK retaining its Vanguard nuclear subs “remains as necessary and ...
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2016
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The board of ARM is expected to recommend shareholders accept the offer - which is around a 43% premium on its closing market value of 16.8bn pound on Friday.The Cambridge-based firm designs microchips used in most smartphones, including Apple’s and Samsung’s.ARM, which was founded in 1990, employs more than 3,000 people.Shares in the UK technology firm surged by 45% at the open of the London Stock Exchange to 1,742.85p per share, adding 7.56bn pound to ARM’s market value.Japanese entrepreneurARM said it would keep its headquarters in Cambridge and that it would at least double the number of i...
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2016
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Qihoo 360 Technology Co. Ltd. is to be de-listed from the New York Stock Exchange next Monday, one month earlier than a previously expected mid-August closing date for the private equity-backed take-private transaction, according to Chinese media reports.The departure from the New York bourse will mark the end of a 13-months process to complete the largest take-private deal of a U.S.-listed Chinese company.Back in June 2015, Qihoo 360 received a preliminary non-binding proposal from its founder and a group of investors to take it private in a deal that values the Chinese software firm at appro...
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China’s economy grew by slightly more than expected in the second quarter of the year as the government increased infrastructure spending.Gross domestic product expanded by 6.7% in the three months to June compared to a year earlier, China’s statistics bureau said.The rate was steady from the previous quarter and above expectations of 6.6%.Analysts said the data showed the world’s second-biggest economy was likely stabilising.Today’s figures indicate China’s economy is being kept stable through policy support, Daniel Martin from Capital Economics said."While China is almost certainly expa...
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2016
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