Business

Amazon reaches agreement with two workers who say they were fired illegally

Amazon has reached an agreement with two employees who accused the e-commerce giant of dismissing them in retaliation for their activism, both parties said Wednesday. Maren Costa and Emily Cunningham, who led an advocacy group of Amazon employees campaigning for better environmental and labor practices at the company, were fired last spring. Federal labor authorities later concluded that the dismissals of the two Amazon designers were indeed retaliatory. On Wednesday, the women said in joint […]

Vietnam’s economy suffers record contraction in Q3

HANOI, Vietnam (AFP) — Vietnam’s economy suffered its heaviest contraction on record in the third quarter, officials said Wednesday, after a devastating wave of Covid-19 forced the widespread suspension of manufacturing in the export-reliant country. Gross domestic product shrunk 6.17 percent on-year in the July-September period, with the general statistics office (GSO) saying it was the sharpest since the Southeast Asian nation began recording quarterly figures — reportedly in 1986. Vietnam was last year among […]

United Airlines to dismiss 593 workers who refused vaccines

  NEW YORK, United States (AFP) — United Airlines will dismiss nearly 600 employees who refused to comply with a requirement to be vaccinated for Covid-19, company officials said Tuesday. Besides the 593 workers who refused to get vaccinated, another 2,000 employees have also requested a medical or religious exemption to the vaccine requirement, company officials said. That is about three percent of United’s 67,000-person workforce. The big US carrier said it was pleased with […]

Asian markets start week with gains but eyes on Evergrande

HONG KONG, China (AFP) — Equity markets mostly rose in Asia on Monday following a broadly positive lead from Wall Street, while investors kept a nervous eye on developments in the crisis at troubled Chinese property giant Evergrande as it teeters on the brink. Hong Kong was among the best performers on bargain-buying after suffering a blow-out last week, though traders were still none the wiser about whether Evergrande paid interest on an offshore bond […]

Bitcoin down 6% after China cryptocurrency crackdown

LONDON, United Kingdom (AFP) — Bitcoin extended losses Friday after China’s latest crackdown on cryptocurrencies. Bitcoin, which had already been falling before the announcement, dropped as much as 6.0 percent in value before trimming losses to stand at $42,256, down 5.5 percent. © Agence France-Presse

Globe Business holds G Summit to support MSMEs

Many businesses continue to face the COVID-19 crisis head on, but others have succumbed to the pandemic by closing their doors and discontinuing their operations. To help micro, small and medium-sized enterprises (MSMEs), Globe Business recently held a conference, called G Summit, to educate how to future-proof their businesses. Held on September 18, 2021, G Summit included various seminars, such as Leadership, Productivity & Remote Work, Practical Marketing, Technology & Digitalization, and Human Resources & […]

ADB cuts Asia growth forecast on slow Covid vaccine rollout

MANILA, Philippines (AFP) — The Asian Development Bank warned of “lasting scars” from the coronavirus pandemic as it cut its 2021 growth forecast for developing Asia on slow vaccination rates, surging infections and crippling lockdowns. A shortage of doses, which has hampered efforts to inoculate the vast region stretching from the Cook Islands in the Pacific to Kazakhstan in Central Asia, could worsen as evidence of waning vaccine protection increases demand for booster shots, the […]

UK inflation strikes nine-year peak as economy reopens

by Roland JACKSON LONDON, United Kingdom (AFP) — British annual inflation spiked in August to a nine-year peak on the reopening economy, but last year’s figure had been skewed by a restaurant discount scheme, official data showed Wednesday. The Consumer Prices Index (CPI) soared to 3.2 percent, the highest level since March 2012, the Office for National Statistics said in a statement. That marked a record acceleration from 2.0 percent in July, but the ONS […]

US stocks fall again in ‘exhausted’ market

NEW YORK, United States (AFP) — Wall Street stocks ended lower again Thursday as markets weighed better employment data against uncertainty over US monetary policy and President Joe Biden’s infrastructure package. US jobless claims dropped for a second straight week, hitting a new pandemic low and getting closer to their level before Covid-19 broke out. Meanwhile, the European Central Bank (ECB) said it would slow the pace of its massive monthly bond purchases and lifted […]

Asian markets lifted by recovery hope, Tokyo breaks 30,000

HONG KONG, China (AFP) — Asian markets rose Tuesday, extending recent gains on optimism about the global outlook, though rising Delta coronavirus cases and worries about a slowdown in the economic recovery continue to cast a shadow. Tokyo’s Nikkei 225 briefly broke 30,000 for the first time in five months on growing expectations for a fresh injection of stimulus after Japan’s prime minister said he would step aside. Traders were also cheered by a better-than-forecast […]

Asian markets mostly up as weak US data soothes taper worries

HONG KONG, China (AFP) — Asian markets mostly rose Monday after a big miss on US jobs creation last month fuelled optimism that the Federal Reserve will hold fire on tapering its massive financial support programme, while Tokyo extended last week’s rally on hopes for more economic stimulus. Closely watched data on Friday showed about a third of the expected number of new jobs were added to the world’s top economy in August, largely because […]

Philippine Airlines files for bankruptcy

Philippine Airlines said Saturday it was filing for bankruptcy in the United States to slash $2 billion in debt as it tries to survive an industry gutted by the coronavirus pandemic. The national carrier of the Philippines said the filing will allow it to restructure contracts and cut debt by at least $2 billion while getting $655 million in fresh capital when it emerges from the Chapter 11 process. PAL will also downsize its fleet […]