Business

Carlyle boss quit after failed request for $300mn pay package

Carlyle Group’s ousted chief executive Kewsong Lee asked for a pay package worth up to $300mn over five years and resigned from the US private equity group after its co-founders refused to even discuss the deal, multiple people with knowledge of the matter said. Lee crafted the deal during negotiations with his consultants and Carlyle …

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Meta’s new AI chatbot can’t stop bashing Facebook | Meta

If you’re worried that artificial intelligence is getting too smart, talking to Meta’s AI chatbot might make you feel better. Launched on Friday, BlenderBot is a prototype of Meta’s conversational AI, which, according to Facebook’s parent company, can converse on nearly any topic. On the demo website, members of the public are invited to chat …

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Tesla’s self-driving technology fails to detect children in the road, tests find | Tesla

A safe-technology advocacy group issued claimed on Tuesday that Tesla’s full self-driving software represents a potentially lethal threat to child pedestrians, the latest in a series of claims and investigations into the technology to hit the world’s leading electric carmaker. According to a safety test conducted by the Dawn Project, the latest version of Tesla …

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Royal Mail workers to stage strikes over four days in call for ‘dignified, proper pay rise’ | UK News

Royal Mail workers are set to stage four days of strikes in the coming weeks in a dispute over pay. The Communication Workers Union (CWU) said over 115,000 staff will form the biggest strike of the summer so far to demand a “dignified, proper pay rise”. Walkouts will take place on Friday 26 and Wednesday …

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Get over-50s back to work to tackle UK labor shortage, says John Lewis boss | Sharon White

The boss of John Lewis has said that the 1 million mostly over-50s who left their jobs during the Covid pandemic should be encouraging back to work to tackle the labor shortage that is pushing up inflation and wages. Dame Sharon White, a former second permanent secretary at the Treasury and chief executive of media …

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Ryanair crew start FIVE months of strikes in pain which could cause chaos for 1,4 million people

Five months of Ryanair strikes could cause chaos for 1.4million passengers as Spanish cabin staff walk out over pay and conditions. Workers for the budget airline announced they will stage walkouts every week between Monday to Thursday from 8 August until 7 January. Union groups USO and Sitclpa are demanding 22 days of holiday for …

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Aluminum foundry fights for survival in European gas crisis

Family-owned aluminum foundry trials new shift pattern Plan to maintain production and reduce gas usage Carmakers warn output cuts inevitable if suppliers close New gas-free technologies will take years to scale up Suppliers need more help to innovate, industry says SOLTAU, Germany, Aug 9 (Reuters) – Shouting over the clanging of machinery, Gerd Roeders is …

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Waterstones hit by ‘nightmare’ stock issues after warehouse system upgrade | Waterstones

High street bookshop chain Waterstones has said it is working hard to shift a backlog of unfulfilled orders after a problem with warehouse technical systems led to stock shortages. The retailer, which has more than 300 stores across the UK, upgraded to a new system called Blue Yonder several weeks ago, but it has been …

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Singapore-based crypto lender Hodlnaut suspends withdrawals

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register HONG KONG, Aug 8 (Reuters) – Hodlnaut, a Singapore-based crypto currency lender and borrower, has suspended withdrawals, swaps and deposits, …

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Bank of England will probably need to raise rates again, governor says | Bank of England

The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflationary pressures that are gaining a foothold in Britain’s economy, its deputy governor, Dave Ramsden, has said. The spread of inflation was showing up in rising British pay and companies’ pricing plans, having originally been triggered …

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