China consumer group seeks answers from Apple about slowing iPhones

The blog Primate Labs, a company that makes an app for measuring the speed of an iPhone’s processor, published data that appeared to show slower performance in the Apple’s iPhone 6s and iPhone 7 models as they aged. (Reuters)
Updated 16 January 2018
0

China consumer group seeks answers from Apple about slowing iPhones

SHANGHAI: A Chinese consumer group has asked Apple for information about the slowing of older iPhones after operating system updates, demanding a reply before Friday, state news agency Xinhua reported.
The query from the Shanghai Consumer Council came in response to consumer feedback that old iPhones became sluggish after upgrading the software to iOS 10.2.1, it said.
In a letter to Apple on Monday, the council requested an explanation for the slow-down and information about what Apple planned to do to rectify the problem, Xinhua reported.
The California-based company acknowledged in December that iPhone software can slow down some phones with battery problems and apologized for the issue. It also cut battery replacement costs and said it would change its software to show users whether their phone batteries were working well.
The Shanghai Consumer Council, a non-government organization approved by the Chinese authorities, said it had received 2,615 complaints about Apple products and services in 2017, compared with 964 complaints in 2015.


UAE’s Network International shrugs off Brexit to list shares in London

Updated 21 March 2019
0

UAE’s Network International shrugs off Brexit to list shares in London

  • The planned share sale comes at an uncertain time in the UK
  • The company, which operates hospitals in the Middle East, was said to be also considering listing in the US or Singapore

DUBAI: Network International, the UAE payments processor, has committed to a London IPO next month in what would be the UK’s first big share sale of the year.
The company intends to have a free float of at least 25 percent and admission to the London Stock Exchange is expected to take place in April, Network International said in a regulatory filing on Thursday.
The planned share sale comes at an uncertain time in the UK where there is still no clarity around whether Britain will leave the EU or not at the end of the month.
VPS Healthcare, the Abu Dhabi-based hospital operator, is reconsidering plans to list in London due to uncertainty surrounding Brexit, Bloomberg reported on Thursday citing a person familiar with the matter.
The company, which operates hospitals in the Middle East, was said to be also considering listing in the US or Singapore.
Emirates NBD, Dubai’s biggest bank, owns 51 percent of Network International while Warburg Pincus and General Atlantic jointly own the rest.
The share sale will be a key test of investor demand for new listings in London after a subdued 2018 across most European markets.
“Volatility has continued in recent months, driven by the uncertainty around trade between the US and China, the wider geopolitical climate and the potential end of the current bull run,” said Peter Whelan, partner and UK IPO Lead at PwC in a recent report.
“We are seeing a healthy number of companies preparing for an IPO in 2019 despite the ongoing Brexit negotiations which have clearly impacted IPO activity on the London market.”
The payment processor reported earnings of $298 million last year according to its website, up from $262 million a year earlier. It does not disclose net income figures.
The company handles digital payments across the Middle East, which generate three quarters of its total earnings.
Last year it processed some $40 billion in payments for more than 65,000 merchants.
Its key markets in the region include the UAE and Jordan it says that Saudi Arabia offers “significant opportunities.” It also offers services in 40 African countries with Egypt, Nigeria and South Africa being its most important segments on the continent.