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Vodafone boosts UK network
NEWBURY: Vodafone said it would have 1,000 5G-enabled network sites in Britain by 2020, delivering blisteringly fast speeds and near-instant response times that it demonstrated by making Britain’s first holographic mobile call. The mobile phone company, which will start trials of 5G technology in seven British cities in the coming weeks, said Cornwall in southwest England and the Lake District national park in the northwest -
 
 
Elanco Animal’s shares surge 41% on stock market debut
NEW YORK: Eli Lilly unit Elanco Animal Health’s shares jumped as much as 41 per cent on their stock market debut, adding to investor enthusiasm for the fast-growing pet healthcare market. Elanco’s shares opened at $32.25 on the New York Stock Exchange (NYSE), higher than their IPO price of $24 per share, giving the company a market value of $11.49 billion. The shares hit a high of $33.85. The company raised $1.51 billion from
   
Rio Tinto announces new $3.2 billion share buyback
MELBOURNE: Global miner Rio Tinto will return $3.2 billion to shareholders from its sale of Australian coal assets this year in addition to existing buyback programmes, it said. The news helped to drive Rio Tinto’s London share price nearly 2 per cent higher, and pushed up the Australian listing by 3.5 per cent. Across the mining sector, a trend to hand money back to shareholders has gathered steam following a recovery from the
 
 
Caixabank to sell 9.4% stake in Repsol
MADRID: Spain’s Caixabank said it would sell its 9.4 per cent stake in Spanish oil major Repsol and book a loss of 450 million euros in the third quarter. Caixabank’s stake in Repsol has a market value of more than 2.5 billion euros. Like other Spanish and European banks, Caixabank is trying to comply with harsher solvency requirements and regulators are demanding banks focus on their core banking business. The lender, which
   
Taiwan’s export orders show steady growth
TAIPEI: Taiwan’s export orders grew at a steady clip in August, including a surge for those from the United States, reflecting continued solid demand for electronic gadgets despite concerns about global growth due to the Sino-U.S. trade war. Orders for trade-reliant Taiwan, which rose 8.0 per cent in July, increased 7.1 per cent in August from a year earlier to $43.68 billion, Ministry of Economic Affairs data showed.
 
 
Canada stands firm on auto tariffs as NAFTA deal not ready
WASHINGTON: Canada and the United States showed scant sign of closing a deal to revamp NAFTA, and Canadian officials made clear Washington needed to withdraw a threat of possible auto tariffs, sources said. The administration of US President Donald Trump wants to be able to agree a text of the three-nation North American Free Trade Agreement by the end of September, but major differences remain. “We discussed some tough issues
   
S.Africa unveils raft of reforms to revive moribund economy
Pretoria: President Cyril Ramaphosa on Friday unveiled a raft of measures as part of an economic stimulus plan to boost investor confidence after South Africa entered a recession in the second quarter of this year. The plan includes infrastructure investment and easing of visa requirements in a bid to create jobs in the lucrative tourism sector, which accounts for 10 per cent of the economy. “The measures we are announcing give
 
 
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