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EU plans to slash red tape for medium-sized companies
EU plans to slash red tape for medium-sized companies
by  AFP

The EU unveiled plans Wednesday to cut red tape for medium-sized companies and abolish barriers for businesses to sell goods across the bloc as part of its efforts to catch up with China and the United States. The EU also wants to establish common labelling so companies can sell the same product in EU states without the need for different labels.

Canal+ buyout of S.Africa's MultiChoice one step closer
Canal+ buyout of S.Africa's MultiChoice one step closer
by  AFP

South Africa's competition authority announced Wednesday it had approved the buyout of Africa's largest pay TV enterprise MultiChoice by France's Canal+, which wants to expand its footprint on the continent. It will also maintain the MultiChoice headquarters in South Africa.

Cyberattack costs UK retailer Marks & Spencer £300 mn
Cyberattack costs UK retailer Marks & Spencer £300 mn
by  AFP

British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack disrupting its online service is set to last through to July and hit group profit by around £300 million ($404 million). The impact on annual group operating profit is estimated at around £300 million, "which will be reduced through management of costs, insurance and other trading actions", the retailer added.

UK inflation hits 15-month high as utility bills soar
UK inflation hits 15-month high as utility bills soar
by  AFP

Britain's annual inflation rate surged more than expected in April as energy and water bills rose sharply, official data showed on Wednesday. He noted that "water and sewerage bills also rose strongly... as did vehicle excise duty, which all pushed the headline rate up to its highest level since the beginning of last year".

Oil prices jump on report of Israel prepping Iran strike
Oil prices jump on report of Israel prepping Iran strike
by  AFP

Crude prices rallied Wednesday following a report that US intelligence suggested Israel was planning a strike on Iranian nuclear facilities, which would send geopolitical tensions into overdrive and fuel regional conflict fears.