Tia Oja, Correspondent (Business) LONDON — The British Chancellor, George Osborne, announced that notable cuts to welfare spending are to take place. With 16 months until the next General Election, the government is under pressure to start putting money back into people’s pockets after many years of scarcity. Osborne’s tough approach is based on an idea that the only way to bring the country’s economy back to life is to fix its finances. Osborne […]
Dipika Rangasami, Editor (Business) SEATTLE- Following a narrowly cast union vote, Boeing machinists approved of a vital labour contract that secures the manufacture of the 777X within Washington state creating thousands of jobs and profitable economic flow but at the cost of the workers’ pensions. The votes, a difference of a minute 2% (being 51% majority against 49%) secured Seattle- Boeing’s manufacturing hub as the location of the 777X jet construction. If the votes […]
Dipika Rangasami, Editor (Business) CALIFORNIA- Facebook Inc. is facing legal prosecution over allegations that reveal a breach in user privacy. The allegations accuse Facebook of profiting through providing marketers and advertisers with information by monitoring its users’ private messages. The suit notes the company’s violation in attempting to conjure user web activity profiling through scrutinising web links embedded within private messages indicating a reported breach of the Electronic Communications Privacy Act and California’s unfair […]
Dipika Rangasami, Editor (Business) BANGKOK- Thailand’s economy did not see prosperous start to the New Year, as both stocks and the currency saw decline in values. The economic slump is thought to be an indication of the increasing uncertainty surrounding an upcoming February election. The election has fuelled anti-government protests recently that seek the ruling Prime Minister; Yingluck Shinawatra’s ousting. Following a drop in the benchmark index ( a four month low ) and […]
Tia Oja, Correspondent (Business) PARIS – The French minister for digital issues has stated that the French government will begin policing the quality of 4G services. The French government plans to police the 4G service providers in an attempt to ensure better quality products. In a statement for the Reuters the minister for digital issues, Fleur Pelleting, said that they will give power back to the telecom regulator Arches which had been in a […]
Dipika Rangasami, Editor (Business) LONDON – The British aerospace and defence company Rolls-Royce is to be the subject of a formal criminal investigation by the Serious Fraud Office (SFO), it was announced earlier this week on Monday 23. Rolls-Royce is believed to have informed the likely cases of bribery and corruption within its intermediaries in China and Indonesia to SFO in December last year. The company also reported the possibility of being prosecuted for […]
Vinayita Bhobe, Correspondent (Business) Apple entered into an agreement with China Mobile on December 22 for supplying iPhone 5s and iPhone 5c to the service provider’s 760 million clients in China giving it exclusive access to the Chinese smartphone market. China Mobile is the world’s largest smartphone service provider and China is Apple’s second largest market after USA. Until now, Apple could not make the most of its entry in China because of legal hurdles […]
Anthony Segaert, Correspondent (Business) In a surprising and sudden move that continues to highlight the rapidly growing role which social media and user-generated content play in journalism, Rupert Murdoch’s media empire News Corporation has acquired the online news agency, Storyful. Storyful, which labels itself as the ‘world’s first social news agency’, was purchased by News Corp. for $US 25 million. ‘We built our success on partnerships. We’re going to become a global force through […]
Yong Jo Leen Correspondent (Business) While many are in the Christmas mood, Amazon’s workers in Germany are not. Hundreds of them went on strike for getting low pay and unimproved conditions at their workplace. This is despite the fact that Amazon.com Inc continued to enjoy high sales especially now that the Christmas season is here. Hundreds of workers went on strike on Monday just as early Christmas orders were made. Hailed the “world’s largest […]
Dipika Rangasami, Editor (Business) LONDON — Drug manufacturing giant, GlaxoSmithKline (GSK) announced its intentions to halt paying doctors for sales promotions and to remove individual sales targets for their promoters earlier today. This step comes as the company seeks to salvage its reputation following scandals and reports of damaging sales practices. The company also revealed its aims to stop paying healthcare professionals for attending medical conferences. The bold move by the British drug manufacturer comes […]
