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Daunting challenge for Google
SAN FRANCISCO: Google’s self-professed mission is to organise the world’s information. But a company known for engineering excellence is still trying to solve the very human problem of how to organise itself. Nearly two years ago, Google co-founder Larry Page announced the tech giant would be remade as Alphabet, a holding company whose units would include Google and an array of unrelated pursuits in areas such as healthcare,
 
 
Clogged oil arteries slow US shale rush to record output
GUERNSEY, WYOMING: A gallon of gasoline that allows a driver on the US East Coast to travel about 25 miles has already navigated thousands of miles from an oil field to one of the world’s largest fuel markets. If its last stop is one of the region’s struggling refineries - an increasingly unlikely prospect - the crude used to produce the gas would have probably arrived by tanker from West Africa. That’s because the region’s five
   
EU tests limits of drug pricing freedom in landmark probe
BRUSSELS: The first ever EU antitrust probe into excessive drug pricing is taking the European pharmaceuticals industry into uncharted territory, unnerving some companies and lawyers worried about the reach of market intervention. It comes as drugmakers face global pressure over the high cost of prescription medicines, with particular anger focused on makers of older generic products who exploit limited competition to force
 
 
Schaeffler slashes profit guidance on steel costs
FRANKFURT: German auto supplier Schaeffler slashed its annual profit guidance on Tuesday citing higher costs for steel and increased expenses for developing electric cars in a warning which hit shares across the sector. Schaeffler shares fell 12 per cent on the STOXX 600 index after the company said that earnings in the second quarter, which ends on Friday, were substantially lower. “Schaeffler flagging increased pricing
   
Omnia looks at acquisitions to spur growth after profit drop
JOHANNESBURG: South African chemicals maker Omnia Holdings will look at acquisitions and new African markets as it seeks to revive growth hit by a manufacturing slowdown, it said on Tuesday. Full-year group profit dropped 7 per cent, with headline earnings per share (EPS), the main profit measure in South Africa that strips out certain one-off items, down to 8.81 rand ($0.68) for the year ended March 31. The results sent Omnia’
 
 
Study finds Seattle’s minimum wage law is costing jobs
Seattle’s minimum-wage law is boosting wages for a range of low-paid workers but is also causing those workers as a group to lose hours. It’s also costing jobs, according to the latest study on the measure passed by the city council in 2014. The report, by members of the University of Washington team studying the law’s impacts for the city of Seattle, was published Monday by a nonprofit think tank, the National Bureau of
   
General Mills, aiming to retake market, unveils ‘French-style’ yoghurt
MINNEAPOLIS: General Mills on Monday unveiled a new yogurt product executives hope will disrupt the marketplace like Greek yogurt did a decade ago. The ambition and stakes are high for the product, called Oui by Yoplait, which is a key part of the company’s turnaround plan for its bruised yogurt portfolio. General Mills, based outside Minneapolis, calls it a French-style yogurt, saying the product uses a culturing process that
 
 
SMEs play a vital role in sustaining region’s economy
DUBAI: The Small and Medium Enterprise (SME) business model plays a vital role in sustaining the economy; and studies have proven how a robust entrepreneurship ecosystem helps economies around the world to survive. The Dubai SME Rating Framework is an essential platform for SMEs to gauge their efforts based on the Dubai Government’s benchmarks and high level of standards when it comes to doing business. The Dubai SME, an
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