Billionaire Samsung heir Lee Jae-yong jailed for five years

Billionaire Samsung heir Lee Jae-yong jailed for five years

The billionaire heir to the Samsung empire has been sentenced to five years in prison after being convicted of offering bribes to South Korea’s former president. Lee Jae-yong was also found guilty by a panel of three judges of embezzlement, hiding assets overseas, concealing profits from criminal acts and perjury. The court in Seoul found Lee hoped that bribes to then-president Park Geun-hye and a close friend would secure support for a merger that strengthened…

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Trump business council disbands as criticism over Charlottesville reaction grows

Trump business council disbands as criticism over Charlottesville reaction grows

Donald Trump has been forced to disband two White House business councils after the high profile resignations of five chief executives over his Charlottesville comments. The US President has been heavily criticised after he said there was blame on “many sides” for clashes between white supremacists and counter protesters on Saturday. On Wednesday night, hundreds of people gathered on the University of Virginia campus in Charlottesville for a peaceful candlelight vigil.  Hundreds took part in…

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Apple boss Tim Cook joins Donald Trump condemnation

Apple boss Tim Cook joins Donald Trump condemnation

Apple chief executive Tim Cook has become the latest boss to criticise President Donald Trump over his response to the white nationalist rallies in Virginia. Mr Cook said he did not agree there was a “moral equivalence” between white supremacists and “those who oppose them”. Mr Trump has disbanded two business councils after top bosses resigned. Mr Cook said Apple will also make donations to human rights charities. In an email to staff obtained by…

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Amazon to create 1,000 jobs at new UK centre

Amazon to create 1,000 jobs at new UK centre

Amazon is continuing its investment in the UK with the online retail giant unveiling plans for a new distribution centre near Bristol which will create 1,000 new permanent jobs. The Seattle-based company plans to start recruiting engineers, operations managers, HR and IT specialists ahead of the facility’s opening in 2018. It already has 13 such centres in the UK, and is on track to open further new warehouses in Doncaster, Warrington and Tilbury later this…

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UK’s new £3bn warship HMS Queen Elizabeth arrives in Portsmouth

UK’s new £3bn warship HMS Queen Elizabeth arrives in Portsmouth

Britain’s biggest-ever warship has arrived at its base in Portsmouth for the first time. Hundreds of people lined Portsmouth Harbour to welcome HMS Queen Elizabeth, an aircraft carrier which cost more than £3bn to build. The 280m (918ft) vessel set sail in June from the Rosyth dockyard where it was built, and since then has been undergoing tests at sea. Technically, it remains a civilian rather than a military ship until it is commissioned later…

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HMS Queen Elizabeth: Navy’s new flagship a true feat of engineering

HMS Queen Elizabeth: Navy’s new flagship a true feat of engineering

My first introduction to the awe-inspiring power of the Royal Navy’s carrier force came aged just 10 years old, on a visit to see HMS Ark Royal R09 in Edinburgh. It was the very last of Britain’s more traditional carriers, those that use catapults to launch fixed-wing aircraft and arrester wires to catch them on landing – the model still adopted today by the US and France. For a young lad, spending the day on…

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Gates Makes Largest Donation Since 2000 With $4.6 Billion Pledge

Gates Makes Largest Donation Since 2000 With $4.6 Billion Pledge

Bill Gates made his largest gift since the turn of the century, giving away Microsoft Corp. shares that accounted for 5 percent of his fortune, the world’s biggest. The billionaire donated 64 million of the software maker’s shares valued at $4.6 billion on June 6, according to a Securities & Exchange Commission filing released Monday. While the recipient of the gift wasn’t specified, Gates has made the majority of his donations to the Bill & Melinda Gates…

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Uber’s CEO sued for fraud

Uber’s  CEO sued for fraud

Travis Kalanick, the former Uber chief executive who was ousted in June, is being sued by one of the company’s biggest investors. Benchmark Capital, which owns 13% of the ride-sharing firm, has accused Mr Kalanick of fraudulently attempting to fill board seats with loyal allies. They said that Mr Kalanick was paving the way for his potential return as chief executive. A spokesman for Mr Kalanick called the lawsuit “completely without merit”. ‘Clearing a path’…

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Facebook takes on rivals with Watch video platform

Facebook takes on rivals with Watch video platform

Facebook is launching a new platform which will see the social network giant take on the likes of YouTube as well as TV networks. The launch will see users of the site given a “Watch” tab on their feeds enabling them to view a range of shows from comedy or reality to live sport. They will also be able to create “watchlists”, see what friends are watching and communicate with other people interested in the…

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Customers ‘furious’ with TNT after cyber-attack meltdown

Customers ‘furious’ with TNT after cyber-attack meltdown

When Leah Charpentier ordered a vintage coffee table, on 8 June – a birthday present for her brother – she didn’t think it would take more than six weeks to be delivered. She also didn’t expect for the furniture to arrive with one of its casters broken off. This particular coffee table was just one of hundreds of thousands of items caught up in an extraordinary meltdown at courier TNT, which was badly affected by…

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