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Theresa May Pledges $5.1 Billion of support for African markets

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British Prime Minister Theresa May said she will make major investments in Africa.

While on a three-day tour of the continent, May pledged £4 billion ($5.1 billion) of support for African markets. May’s goal of deepening trade ties with Africa, the world’s second most populous continent, comes ahead of Britain’s departure from the European Union next year.



Britain’s goal post-Brexit is to “strengthen its global partnerships,” May said in a statement. “This week I am looking forward to discussing how we can do that alongside Africa to help deliver important investment and jobs as well as continue to work together to maintain stability and security.”

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Britain’s direct investment in Africa will mark a fundamental shift in focus from short-term poverty reduction to long-term economic growth.

May said the U.K. will treat African nations as “equal partners,” and help British companies boost trade with countries such as Cote D’Ivoire and Senegal.

“True partnerships are not about one party doing unto another, but states, governments, businesses and individuals working together in a responsible way to achieve common goals,” May said.

A main goal of Britain’s investment will be to harness the “innovation and creativity” of the young people of Africa, May said. “The challenges facing Africa are not Africa’s alone,” she said. “It is the world’s interest to see these jobs created.”

While speaking at a grade school in Cape Town, South Africa, May also announced the expansion of an educational scholarship for African students to attend college in the U.K. A video of the British Prime Minister dancing with teachers and students at the I.D. Mkize Secondary School has gone viral.

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Patience, big signing will soon arrive: Emery

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With the new season under a month away, Arsenal coach Unai Emery has assured fans of new signing.

Emery, was appointed as the gunners coach On 23 May 2018, and his first campaign ended with a fifth place and reaching Eroupa League Final.

Arsenal will be aiming to return to top-four in the Premier League, and the coach is keen on adding right players to improve his team.

The club have been linked with Wilfred Zaha, Kieran Tierney and Saint-Etienne defender William Saliba, While they are thought to be close to sealing a season long loan for Real Madrid midfielder Dani Ceballos.

Although to date the only player they have brought in is teenage winger Gabriel Martinelli.

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Arsenal supporters are running out of patience amid delays in signing new players, but the Spanish born insists the club will spend big this summer.

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24 Hours Across Africa

EU to probe Amazon over use of merchant data

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Amazon became the target of an antitrust investigation by the European Union on Wednesday over its use of merchants’ data, underlining the increasing regulatory scrutiny about how tech companies exploit customers’ information.

The European Commission has been seeking feedback from retailers and manufacturers since September into Amazon’s dual role as a marketplace for merchants and acting as a competitor following complaints from traders about Amazon’s practices.

The Commission said its investigation would focus on Amazon’s standard agreements with marketplace sellers and its use of data in choosing winners of the “buy box”, which allows consumers to add items from a specific retailer directly to their shopping carts.

European Competition Commissioner Margrethe Vestager, who can fine companies up to 10% of their global turnover, said the issue was crucial as more and more Europeans shop online.

“E-commerce has boosted retail competition and brought more choice and better prices. We need to ensure that large online platforms don’t eliminate these benefits through anti-competitive behavior,” she said.

Amazon said it would cooperate fully with the EU investigation. The company reached a deal with Germany’s antitrust authority on Wednesday to overhaul its terms of service for third-party merchants.

Under its terms of service for Europe here set out on its website, merchants grant Amazon “royalty-free” rights to use in a range of ways their materials, such as technology, trademarks, content and product information.

“There have been concerns around the world that competition authorities have failed to appreciate the market power that comes from ownership of data,” he said.

In Amazon’s case, he said the Commission needed to show “the standard agreements with retailers were anti-competitive in somehow allowing Amazon to use the data to manipulate market outcomes, or that Amazon had in some way abused its dominance.”

The Commission had been struggling to define the market in which Amazon operates in order to identify where the competitive harm could have been, sources said.

This would not be Amazon’s first run-in with the Commission. Two years ago, it was told to pay back taxes of about 250 million euros ($280 million) to Luxembourg because of illegal tax benefits. That same year it settled with the regulator over its distribution deals with e-book publishers in Europe.

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