Indian steel major Tata Steel’s European business – Tata Steel Europe, has said that it could cull as many as 1,250 jobs primarily to cut costs in the face of “challenging circumstances” and the “needs to urgently improve profitability”. According to a report published by the news agency Reuters, this was revealed in an internal…
Britain’s largest retailer Tesco has agreed on a deal with Thailand’s CP Group to sell off its businesses in Thailand and Malaysia for a value of $10.6 billion. The company said in a statement in Monday that entire shareholding in Tesco Stores (Thailand) Ltd, Tesco Stores (Malaysia) Sdn Bhd will be transferred to the CP…
All of the employees of Google parent company Alphabet have been asked to work from home till April 10 in order to limit the spread of the coronavirus, said reports quoting an email circulated to its employees by the company and now available with the media. “Out of an abundance of caution, and for the…
The Trump administration has once again allowed U.S. companies to continue to do business with China’s Huawei Technologies Co Ltd by extending the trade license until May 15, 2020. The U.S. Commerce Department had previously extended it until April 1. Separately, the U.S. Commerce Department has sought public comments on whether it should issue future…
Lebanon will be defaulting on its debt for the first time, confirmed the country’s Prime Minister Hassan Diab on Saturday. The country will not be able to serve a $1.2 billion or €1.35 billion Eurobond which is due to mature on Monday, said Diab during a televised address. This announcement was made after a high…
An urge for an aid of $2 billion to support the efforts to develop a vaccine for the novel, fast spreading and deadly coronavirus that is the cause of the deadly COVID-19 infections around the world was given on Friday by a global coalition set up to fight epidemic diseases. The Coalition for Epidemic Preparedness…
In order to prevent the spread of coronavirus, the use of reusable cups has been temporarily banned by Starbucks at branches in the United Kingdom. A discount of 25pence would still be available for consumers who bring in reusable cups with them, but the coffee chain would only give out its coffee in paper cups,…
According to reports citing an internal message sent by Amazon, one of the e-commerce company’s employee in Seattle was found to have tested positive for the coronavirus infection. According to a message sent by the Amazon Human Resources that was sent to most Amazon employees in the area and one that has been reportedly seen…
Cathay Pacific Airways has been fined £500,000 for not taking enough measures to protect personal data of its customers. This fine was imposed on the airlines by the Information Commissioner’s Office (ICO) of the United Kingdom. Personal details of 111,578 residents of the UK as well as personal data of 9.4 million people from other…
The one time iconic American motorbike brand Harley-Davidson Inc has been struggling to find an appropriate strategy to woo young customers and revive sales in the United States and elsewhere. On Friday, the company selected a new interim chief executive of the company – the choice was a board member of the company credited with…
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