Business News

Business News

Severe storms in Oklahoma, Texas and Arkansas killed almost a dozen people Saturday night, with the toll expected to rise. A series of cryptic social media posts was all it took to push up the stock price of the otherwise struggling video game retailer GameStop. Retail sales fell by much more than expected last month as heavy rain kept shoppers at home. Paula Vennells faced three days of questions about her role in the wrongful prosecution of hundreds of sub-postmasters. Officials allege the company used illegal tactics to dominate the concert industry, driving up prices.

  • But supply chain bottlenecks, labor shortages and other issues meant that businesses could not fully meet that demand.
  • The New York City mandate, which requires on-site workers at all businesses to be vaccinated, is the country’s most sweeping local vaccine mandate and affects some 184,000 businesses.
  • The ASX200 has fallen 0.9 per cent, giving up half of Thursday’s gains, but still finished the week 0.8 per cent higher.
  • The Tata Group company is in talks with lenders including State Bank of India, IndusInd Bank, Axis Bank and ICICI Bank for the loan, Bloomberg reported citing sources.
  • In the White House, the future of Mr. Biden’s $2.2 trillion domestic policy bill was put in doubt after Senator Joe Manchin III, Democrat of West Virginia, said he would vote against it because he feared it would inflame inflation.

Gildan Activewear announced Thursday that all board members have resigned and its president and CEO, Vince Tyra, has stepped down. The companies also said they were aiming for significant savings in overall production costs by increasing the number of components that their various cars have in common, aiming to cut battery costs by 65 percent by 2028. Looking forward, the three companies in the alliance unveiled a plan to invest almost $26 billion into the joint development of new battery electric vehicles, with plans to add 35 models to their lineups by 2030. Still, Southwest expects operating revenue in the first quarter of 2022 to be down only about 10 to 15 percent from the same period in 2019. The airline also said it hoped to restore most of its route network and return to typical productivity levels by the end of next year. In nominal terms, economic output has surpassed its prepandemic trend.

The ‘absolute worst’ of times for car buying are over

But OSHA also gave employers some leeway, pushing back full enforcement of the rule until February. CNN is closing its offices to all employees who are able to work remotely. As recently as Thursday, the World Economic Forum had said it was proceeding with the event, which draws thousands of politicians, executives and nonprofit leaders to a ritzy ski town in the Swiss Alps for lectures, panel discussions, dinners and parties. Organizers had said they would make a decision about whether to proceed by Jan. 6. The cancellation of the event, which had been planned for Jan. 17-21, is one of the biggest disruptions caused by the new wave of coronavirus cases, and upends plans for the many world leaders and corporations that had planned to attend. The World Economic Forum postponed its annual meeting set to begin on Jan. 17.

  • May 17, 2024 • Last month, the world narrowly avoided a cyberattack of stunning ambition.
  • “Pent-up business and consumer demand are set to power a strong profits recovery.”
  • Last week, Apple said it was indefinitely postponing office-return plans and The Washington Post announced it was mandating booster shots and weekly testing.
  • Demand for the newest iPhone 13 juiced sales, but the company has been warning for months that computer chip shortages and pandemic-related manufacturing problems in Asia were likely to limit supply and hamper revenue.
  • NZ’s four major banks will soon provide open banking – a new way to pay and track funds.

The store is the only one of roughly 9,000 company-owned locations in the United States to have a union, though many locations owned and operated by other companies under licensing agreements with Starbucks have unions. In the White House, the future of Mr. Biden’s $2.2 trillion domestic policy bill was put in doubt after Senator Joe Manchin III, Democrat of West Virginia, said he would vote against it because he feared it would inflame inflation. On Friday, the state reported 21,027 new coronavirus cases, the highest single-day total since early in the pandemic, when testing was not as widely available. The new policy was in keeping with New York City’s vaccine rule, which Mayor Bill de Blasio announced in early December and which is more stringent than a contested Biden administration rule requiring vaccine mandates or weekly testing at larger employers. Fox Corporation, the owner of Fox News, told employees on Friday that those working in New York City would have to show proof they’d had at least one dose of the Covid vaccine by Dec. 27, removing the option to get tested weekly instead.

Sinar Mas Land to transform BSD City into Indonesia’s first smart city

Theranos collapsed in 2018 after whistle-blowers exposed its problems to The Wall Street Journal and federal regulators. The saga was documented in popular books, podcasts and documentaries; soon it will be featured in scripted shows on Hulu and Apple TV+. “From the beginning, we’ve been clear in our belief that we do not want a union between us as partners, and that conviction has not changed,” Rossann Williams, the company’s president of retail for North America, said in a letter to U.S. employees on Monday. Shares in the electric carmaker Lucid plunged 5.1 percent and have fallen nearly a third from their high. Rivian, which makes electric trucks and vans, was down 7.9 percent and has lost nearly half of its value since its peak last month. And Tesla shares were down 3.5 percent and have shed more than a quarter of their value since their peak last month.

  • Government unveils its most significant steps yet to address slump in the country’s property sector.
  • Leisure, hospitality, travel and other related service-based sectors are bracing for the worst of winter and what’s left of the Omicron surge, while gearing up for what businesses and consumers hope will be a lively return to something resembling normal.
  • The Australian share market has dropped across the board to post its worst losses in more than three weeks as hopes fade for mid-year interest rate cuts.
  • PM Modi in response posted that India’s recent strides in the space sector has been appreciated by the entire world.