All posts filed under: BUSINESS

Chelsea Put £1bn Stadium on Ice

  Chelsea Football Club have shelved plans to redevelop Stamford Bridge just as owner Russian billionaire Roman Abramovich faces a glitch in renewing his work visa. In a terse statement on its website, the west London club stated it was putting the new stadium project on hold and that further preparatory design and planning work will also cease. The statement read: “Chelsea Football Club announces today that it has put its new stadium project on hold. No further pre-construction design and planning work will occur. The club does not have a time frame set for reconsideration of its decision. The decision was made due to the current unfavourable investment climate.” Political observers are however linking the decision with Abramovich’s unexplained inability to secure the renewal of his investor’s visa. The business magnate who lives on Britain’s most exclusive street, Kensington Palace Gardens, was also inexplicably absent from the Blues’ recent victory over Manchester United in the FA Cup at Wembley. Relations between Russia and the United Kingdom has worsened since the Skripal poisoning. Britain has vowed tougher …

Intel Allays Bug Fears as Apple Admits Products Vulnerable to Attack

Intel Corp, the world’s No. 1 chipmaker has downplayed concerns that software updates to address security vulnerabilities in its computer chips will degrade performance of computers as businesses and consumers scrambled to figure out whether installing the patches would slow their machines. These flaws are security laxes detected in nearly every computing device that make their data vulnerable to hacking. The glitch surfaced early this week when news broke that researchers were planning to release technical reports on the threats, sending businesses, governments and consumers scrambling to understand the extent of the threat and the cost of fixes. No clear consensus has emerged. “Intel continues to believe that the performance impact of these updates is highly workload-dependent and, for the average computer user, should not be significant and will be mitigated over time,” the company said in a release. The release cited comments from Amazon.com Inc., Apple Inc., Alphabet Inc’s Google and Microsoft Corp, which said that they had seen no significant impact to performance after installing the patches. They were among a group of firms that …