Deaths from major heatwave sweeping India top 1,100

Hyderabad (India) (AFP) – More than 1,100 people have died in a major heatwave sweeping India, authorities said Wednesday, as forecasters warned searing temperatures would continue. Southern India has borne the brunt of the hot, dry conditions and many of the victims are construction workers, elderly or homeless people unable to heed official advice to stay indoors. Roads have melted in New Delhi, where forecasters said they expected the high temperatures to continue into next week — adding to the misery of thousands living on the capital’s streets with little shelter from the hot sun. Brahma Prakash Yadav, director of […]

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10 things in tech you need to know today (TWTR, AOL, MSFT, AAPL)

Good morning! Here’s the tech news you need to know today. 1. Snapchat now has nearly 100 million daily active users, CEO Evan Spiegel said. That’s about a tenth as many as Facebook. 2. Vox Media has acquired tech publication Re/Code. The site was started around 18 months ago, and was backed by investors including NBC Universal. 3. Hackers have stolen sensitive information from 100,000 Americans. The hackers gained access to a computer system operated by the IRS. 4. Livestreaming app Periscope is now available for Android phones. Twitter’s latest app used to be only for iPhones. 5. A court […]

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Plus500 customers are going to have to wait another month to get their frozen cash

More bad news for Plus500 customers — you’ll have to wait up to a month to access your cash and trade again. Spreadbetting company Plus500 froze thousands of UK accounts last week while it beefed up its anti-money laundering checks. The news sent shares plummeting and provoked criticism from users over a lack of communication from the company. Plus500 has already said it’s working hard to reactivate accounts, but it could take weeks. This morning it clarified in its annual general meeting statement that it will take another month to work through the backlog. Customers will not be happy. Several customers […]

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This former Goldman Sachs partner is helping the start-ups that are killing the banks right now

Four-year-old London-based foreign exchange platform Kantox just scored a very important investor — Patrick de Nonneville. De Nonneville was until January a top European executive at Goldman Sachs but left the pinnacle of traditional finance to join the booming world of FinTech. De Nonneville, formerly co-head of European Interest Rate Products for Goldman, joined online French business loan start-up Lendix as its COO at the start of the year after more than seven years at Goldman. He’s now taken part in an $11 million funding round announced today in Kantox, a foreign exchange platform headquartered in London. He’s also joining […]

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How Angela Merkel could become Greece's unlikely saviour

The potential for a Greek exit from the eurozone has probably never looked this real. The government is running out of cash and doesn’t seem to have enough for its next International Monetary Fund payment. Missing a debt payment could push the European Central Bank to withdraw support from Greece’s banking system and eventually cause a “Grexit” — a disorderly Greek exit from the eurozone. This would have major implications not just for the well-covered economic issues but for European security too: Greece has historically had close ties with Russia. Both are Orthodox nations on the fringes of Europe (with […]

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Total's oil production from this one site nearly exceeded the whole of Britain's daily output

France’s Total just revealed that its oil production from one site near Angola, in Southern Africa, nearly exceeded Britain’s overall output daily. In a regulatory statement, energy giant said it produced a cumulative two billion barrels of oil from its operated deep offshore Block 17 located 150 km off the coast of Angola. It added that Block 17 has become Total’s most prolific site with production of over 700,000 barrels of oil (bbl/d) per day. In comparison, according to the International Energy Agency, Britain produces around 800,000 bbl/d. “Block 17 is a global benchmark in the deep offshore and represents a […]

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Rolls-Royce just signed a deal with the British Army

Rolls-Royce just revealed that it will receive €80 million (£57 million, $87 million) to supply the British Army with engines that will power its new SCOUT Specialist Vehicle (SV). The London-listed aerospace and defence giant company said in a statement that it will deliver 589 MTU Series 199 diesel engines from 2016 until 2022. This will be the first time that MTU engines will be used in British Army platforms. “We are delighted that our MTU engine has been trusted for this important project,” said Dr Ulrich Dohle, CEO at Rolls-Royce Power Systems. “This order once again proves that when it comes to performance and reliability, […]

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The 10 most valuable brands in the world (GOOG, AAPL, MSFT, IBM, V, T, VZC, KO, MCD)

Apple has overtaken Google this year to become the world’s most valuable brand, according to WPP and Millward Brown’s annual “Brand Z” rankings. Technology brands dominate the top 10, but there is also a surprise entrant. Millward Brown’s study uses the views of around 2 million potential and current customers of a brand, alongside financial data, to calculate a company’s brand value. You can see the full report and methodology here. 10. Marlboro Brand value: $80 billion Percentage change from last year: +19% Last year’s rank: 13 What happened: Perhaps a surprise entrant into the top 10 for many people, […]

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FIFA officials arrested in Zurich on US corruption charges: NYT

New York (AFP) – Top FIFA officials were arrested early Wednesday morning by Swiss police acting on US corruption charges, The New York Times reported. The officials at international soccer’s top body face extradition to the US following their arrest at an expensive Swiss hotel, the paper said, adding that more than 10 officials are to be charged with “wire fraud, racketeering and money laundering” in New York by the Department of Justice. Join the conversation about this story »

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Snapchat has IPO plan: CEO

San Francisco (AFP) – The chief of vanishing-image service Snapchat said the company has a plan for going public with an offering of stock but did not reveal when it might happen. “We need to IPO, we have a plan to do that,” chief executive officer Evan Spiegel said on-stage at a Code Conference in California when asked about the potential for an initial public offering of stock. “An IPO is really important,” he added, according to a live blog of the exclusive technology conference. Snapchat rejected a $3 billion take-over offer from Facebook in 2013. Earlier this year, news […]

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