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2018-02-14 18:04:03


Google needs your e-mails to be a window to the online

Your Gmail inbox is about to get bizarre. As a part of an replace to its Accelerated Cellular Pages mission, Google will serve up content material from the web inside e-mails to offer always-up-to-date data.

Backstory: The AMP mission was designed to make… Learn extra

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Jamie Oliver closes flagship Barbecoa restaurant – NEWPAPER24

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Newpaper24 - Global online News around the World _100079807_barbecoa1 Jamie Oliver closes flagship Barbecoa restaurant - NEWPAPER24

Jamie Oliver closes flagship Barbecoa restaurant

2018-02-19 22:29:38

Picture copyright Barbecoa
Picture caption Barbecoa specialises in grilled meats

Jamie Oliver’s two flagship London eating places have gone into administration, though the movie star chef instantly purchased one again.

His upmarket Barbecoa steak restaurant in London’s Piccadilly will shut a yr after it was re-launched.

The opposite outlet, close to St Paul’s Cathedral, has been saved after the chef purchased it for an undisclosed sum by way of a newly-created subsidiary.

The transfer comes as Mr Oliver makes cuts in different elements of his enterprise.

Barbecoa St Paul’s was purchased again below a so-called pre-pack association, which permits the acquisition of the most effective belongings of a enterprise earlier than it really goes into administration.

The Jamie Oliver Restaurant Group was already reducing prices in different areas, regardless of the chef placing £3m of his personal cash into the enterprise in December.

Final month it introduced that it was shutting down 12 of its 37 Jamie’s Italian eating places – the mainstay of the group – as a part of a rescue plan with collectors that might allow it to proceed buying and selling.

The closure of the 12 eating places will have an effect on not less than 200 jobs.

Court docket paperwork revealed that Jamie’s Italian had money owed of £71.5m.

These included:

  • £2.2m in wages owed to workers
  • £30.2m of overdrafts and loans
  • £41.3m owed to landlords, HM Income and Customs, suppliers and different collectors

Nevertheless, £47m of the money owed are lined by loans from HSBC Financial institution and Jamie Oliver’s different corporations.

The chain additionally closed down six Jamie’s Italian eating places in January 2017.

On the time, the corporate stated that the closures had been as a result of uncertainties attributable to Brexit and a “powerful” market.

Different British restaurant chains have been struggling in latest months.

In January, burger chain Byron introduced that it too had entered into an organization voluntary association, which might imply that as much as 20 Byron burger eating places would wish to shut.

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South African finances to set out robust measures to restore post-Zuma economic system | Investing Residence – NEWPAPER24

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Newpaper24 - Global online News around the World 1519080506_ South African finances to set out robust measures to restore post-Zuma economic system | Investing Residence - NEWPAPER24

South African finances to set out robust measures to restore post-Zuma economic system | Investing Residence

2018-02-19 11:26:23


JOHANNESBURG (Newpaper24) – South Africa’s finance ministry is ready to spell out “robust choices” in its 2018 finances on Wednesday to plug a income hole and slender the deficit, offering an early have a look at how new President Cyril Ramaphosa plans to restore the ailing economic system.

Africa’s most industrialised economic system, harm by 9 years of mismanagement beneath the scandal-plagued Jacob Zuma, faces a 50.eight billion rand ($four.36 billion) income hole in 2017/18 fiscal 12 months.

Tax hikes, together with increased worth added tax (VAT), might assist plug the shortfall, analysts say.

Finance Minister Malusi Gigaba, whose place is unsure now amid speak of an imminent reshuffle by Ramaphosa, despatched shock waves by way of monetary markets final October when he introduced the projected income shortfall and flagged weak progress estimates and rising authorities debt.

Although it remained to be seen whether or not Gigaba could be the one tabling the finances in parliament on Wednesday, his spokesman indicated there was no stepping again from robust measures which have additionally been emphasised by Ramaphosa.

“The (October finances) constructed up a really clear sincere image of the financial setting we’re in. What individuals ought to count on is a few repairing kind of interventions taken to revive the books of Nationwide Treasury,” the spokesman, Mayihlome Tshwete, stated when requested what was anticipated of Wednesday’s finances.

He added: “Meaning robust choices must be taken by authorities … there isn’t a query we have to deal with the 50 billion (rand) elephant within the room.”

In his maiden state of the nation deal with on Friday, a day after his election as president by parliament, Ramaphosa additionally warned of robust choices to cut back the fiscal deficit and stabilise debt after years of weak progress.

Ramaphosa took over after Zuma stepped down on orders of the ruling African Nationwide Congress (ANC) ending 9 years of workplace tormented by corruption allegations and financial mismanagement.

“VAT HIKE POLITICALLY UNPALATABLE”

A Newpaper24 ballot final week discovered that economists had been cut up on how new revenues must be raised – the preferred being a rise in revenue tax, adopted by increased worth added tax (VAT), the sale of non-core property and taxes on particular items.

Economists stated a 2 % VAT hike may very well be efficient in wiping out the 50.eight billion rand income shortfall. The VAT charge, presently at 14 %, has not been adjusted since 1993.

However a VAT hike runs the danger of including a heavy monetary burden to the each day lives of the poor.

“In a low-savings economic system, consumption ought to moderately be taxed, however I feel a VAT hike is more likely to be politically unpalatable forward of the 2019 nationwide elections specifically,” stated Customary Financial institution economist Elna Moolman.

The ANC had been beneath sturdy stress to deal with excessive unemployment and inequality after the get together misplaced its grip on cities together with Pretoria and Johannesburg throughout municipal elections in 2016.

South Africa stays polarized by inequality greater than twenty years after the tip of white-minority rule in 1994, with the lion’s Share of the economic system nonetheless within the arms of the white minority inhabitants.

Ranking companies may even carefully monitor the finances after S&P World Scores and Fitch downgraded South African debt to “junk” standing final 12 months, citing the dismal financial outlook.

Moody‘s, which charges South African debt on its lowest funding grade rung, positioned the nation on evaluation for a downgrade. It stated it could decide after the finances.

“Moody’s will want concrete causes to not ship a downgrade. The finances must ship sufficient consolidation to avert such a transfer,” Customary Chartered Financial institution’s Chief Africa Economist Razia Khan stated.

A downgrade to “junk” by Moody’s might see South African debt lose its place in Citi’s World Authorities Bond Index (WGBI), the largest of the worldwide benchmarks and tracked by about $2-Three trillion of funds.

($1 = 11.6490 rand)

Enhancing by James Macharia and Richard Balmforth

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Sharp improve in UAE residents’ spend on Valentine’s Day flowers – Private Finance – NEWPAPER24

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Newpaper24 - Global online News around the World Valentines-Day-Flower Sharp improve in UAE residents' spend on Valentine's Day flowers - Private Finance - NEWPAPER24

Sharp improve in UAE residents’ spend on Valentine’s Day flowers – Private Finance

2018-02-14 14:44:51


The general spend on flowers within the UAE has elevated by 146 % in comparison with 2015, with the variety of transactions rising by 158 %, based on the Mastercard Love Index 2018, which analysed credit score, debit and pay as you go transactions throughout the previous three Valentine’s Day intervals from 11-14 February in 2015 to 2017.

Whereas 86 % of the transitions had been made in particular person, e-commerce funds witnessed a 111 % improve from Valentine’s Day 2015 to Valentine’s Day 2017.

“The rise in e-commerce transactions round Valentine’s Day factors within the course of a rising on-line procuring tradition within the nation, supported by the quick adoption of cell fee options corresponding to Masterpass, Apple Pay and Samsung Pay,” mentioned Girish Nanda, common supervisor, UAE & Oman, Mastercard.

The Share of spend on eating places remained secure over the previous three years, taking a 9 % Share of spend and a 44 % Share of transactions in 2017.

As well as, knowledge from the research steered 28 % of UAE residents not wait till the final minute to purchase items for the event, and made purchases on February 11 as an alternative.

Nevertheless, 28 % additionally made purchases on Valentine’s Day itself.

Within the MEA area, which the research coated, thare of spend on accommodations remained secure over the previous three years, taking a 41 % Share of spend and a 21 % Share of transactions in 2017.

Spend on flowers additionally elevated by 96 % since 2015, with the variety of transactions growing by 71 %.

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