EXCLUSIVE US electronics firm struck deal to transport and hire Uyghur workers
QINZHOU, China, Oct 7 (Reuters) – U.S. remote-control maker Universal Electronics Inc (UEIC.O) told Reuters it struck a deal with authorities in Xinjiang to transport hundreds of Uyghur workers to its plant in the southern Chinese city of Qinzhou, the first confirmed instance of an American company participating in a transfer program described by some rights groups […]
Big banks target South Africa’s informal saving clubs’ cash
JOHANNESBURG, Oct 7 (Reuters) – Thandi Mkhabela’s money used to slip through her fingers. Now the 34-year-old mother of four earns interest on monthly savings has paid off debts and is planning to extend her house in a township just outside Johannesburg, without ever dealing with a bank. Mkhabela’s improved financial footing came after she […]
European business growth hurt by supply issues, pricing in Sept -PMIs
LONDON, Oct 5 (Reuters) – Business growth across Europe remained strong last month but elevated inflationary pressures put a dent in demand while ongoing supply issues constrained activity, issues which are likely to continue, a survey showed on Tuesday. Although many restrictions imposed to contain the coronavirus pandemic have now been lifted in the region, […]
Stocks Rebound, Treasuries Fall Ahead of Jobs Report
Stocks rebounded from Monday’s rout and Treasuries fell as investors assessed the state of the economy before a key payroll report Friday. An ISM reading on the U.S. services sector activity came in better than expected Tuesday, likely keeping the Fed on track to announce a pullback in bond-buying. The gains helped ease concerns of […]
Interruption of Facebook, Whatsapp, and Instagram; Zuckerberg loses $6 billion in 6 hours!
On October 4th, billions of people around the world had trouble logging into their Facebook accounts. Several users took to Twitter to see if the problem was with their network or if the Facebook-owned apps had truly gone down. It took nearly 6 hours for access to its social media platforms, including Instagram and WhatsApp, […]
Goldman shrewdly grabs McKinsey cast-off
Few people can claim to have worked at both Goldman Sachs and McKinsey. Kevin Sneader joined the investment bank just six months after leaving the CEO of a management consulting firm. Installing someone who agreed to a $573 million opioid settlement and dealt with a slew of other issues may seem unusual for a bank […]
The growing popularity of flavorings will drive more deals!
Investors are following their instincts. Azelis, a company owned by EQT that manufactures personal care fragrances and food flavorings, rose 13% on its market debut in Brussels on Friday. First, at the moment of the ranking, the company, which also manufactures chemicals for home appliances and also glues and sealants, was valued at more than […]
Erdogan declares that Turkey will open 1,000 new markets in order to combat high inflation!
On Sunday, Tayyip Erdogan, president of Turkey has ordered agricultural cooperatives to open about 1,000 new markets across the country to provide “suitable” prices for consumer goods. Construction is to start quickly on the shops to provide Turks “cheap and high-quality goods” and to “balance out markets”, he said, after consumer price rises to levels […]
ABB launches world’s fastest electric car charger
ZURICH, Sept 30 (Reuters) – ABB (ABBN.S) has launched the world’s fastest electric car charger, the Swiss engineering company said on Thursday, as it presses ahead with plans to float the business which could be valued at around $3 billion. read more The company’s new Terra 360 modular charger can charge up to four vehicles at once, and […]
China’s electric carmakers make their move on Europe
MUNICH/BEIJING, Sept 30 (Reuters) – China’s electric carmakers are darting into Europe, hoping to catch traditional auto giants cold and seize a slice of a market supercharged by the continent’s drive towards zero emissions. Nio Inc (NIO.N), among a small group of challengers, launches its ES8 electric SUV in Oslo on Thursday – the first foray […]
