Tia Oja Correspondent (Europe) BERLIN — Porsche’s factory has recently been so efficient that it will cut down working time of its factory workers’ day by one hour. Regardless of the change in the length of the work day, the salary of the employees of the German car manufacturer will remain the same. The German car magazine Automobilwoche reported on its website of a welcomed ‘problem’ Porsche’s factory is facing. Apparently the factory is […]
Samrawit Gougsa, Editor (Business) OKLAHOMA CITY, OK — Aubrey McClendon, former CEO of Chesapeake Energy Corp., has secured an estimated $1.7 billion in order to kick-off drilling operations in Ohio’s Utica Shale for the new company he founded, American Energy Partners LP. The significant sum will be spent on hunting for oil and natural gas in the Ohio Utica Shale. A subsidiary division of the company, American Energy- Utica LLC, has raised several private […]
Samrawit Gougsa, Editor (Business) LONDON- Nestlé, the world’s leading food and beverage company, has won a legal battle against competitor Cadbury over its attempt to trademark the purple color for its chocolate products such as its “Dairy Milk” bars. The Swiss company overturned a decision made in October 2012 that allowed Cadbury to trademark a particular shade of purple for its products and banned other chocolate firms from using the color, known as Pantone […]
Denislav Dochev, Correspondent (Business) WASHiNGTON – After the banks and the city of Detroit, it will be the USA that is menaced by going bankrupt and filing for Chapter 11 bankruptcy. If only that were possible! But unfortunately it won’t be. The only thing that the country will be able to do is to increase the debt limit yet again and they had better think about doing it pretty quick. Treasury Secretary Jacob Lew […]
Ingrida Kurlinkute, Correspondent (Business) LONDON — 2016 might see the introduction of smaller polymer banknotes by The Bank of England. Plastic banknotes will be less shabby, much more difficult to falsify and also smaller in size, just 125mm by 65mm, yet still bigger than euro banknotes. More than 20 countries now issue polymer banknotes such as Australia, New Zealand, Canada, Mexico, Mauritius and Singapore. An Australian $5 note wears out in three years, while the English […]
Denislav Dochev, Correspondent (Business) Several years ago was signed the biggest and the most important energy project in Southern Europe. Since then South Stream has been qualified as project of strategic importance for Bulgaria and the other Balkan countries involved. The possible investment to Bulgaria is estimated at more than $3 Billion. The project has not been started yet, as there is not a single problem where EU and the Russian Federation stand on […]
Mati Maravanyika, Correspondent (Business) ADDIS ABABA — Ethiopia has signed $800 million deal ZTE- China (000063.SZ) in order to develop mobile phone infrastructure. In accordance with the deal, “high-speed 4G broadband network” and 3G will be introduced in the capital city of Addis Ababa. Along with ZTE, which is one of China’s largest telecoms equipment maker, Huawei Technologies Co Ltd HWT.UL, which is the one of the world’s largest telecoms equipment maker, signed an […]
Vaiva Seskeviciute, Correspondent (Business) The more human beings are being referred to as masses, the bigger importance is given to individualism and self-expression. People are looking for different ways to disassociate themselves from corporate power, authorities and commercialisation, and the use of body art is one of the ways of doing so. There is nothing new about inscribing symbols or phrases on one’s skin for aesthetic reasons, beauty or beliefs. What is new is […]
Jennifer Ubah, Correspondent (Business) LONDON — The UK is among one of the worst hit in the European Union, with average hourly wages decreasing. According to statistics, the sovereign state was the fourth worst hit, with wages in Greece, Portugal and the Netherlands declining even more. Data from the House of Commons library show that in the UK average hourly wages have fallen by 5.5% since mid-2010, after inflation. Since George Osborne, Chancellor of the Exchequer […]
Vinayita Bhobe, Correspondent (Business) NEW YORK — Jeffery Bezos, the founder and chief Executive of Amazon.com has finalised the purchase of one of USA’s most reputed newspapers, The Washington Post, at $250 million from the Graham family ending their eight decade long stewardship of one of the most well known newspapers in the United States of America. Even though Jeffery Bezos is the CEO and founder of Amazon, this purchase is strictly personal and […]
