More than 100 business leaders, including the chief executives of some of the country’s most prominent businesses, met over the weekend to discuss how to respond to legislative proposals on voting that they believe are too restrictive. The meeting, building on the dozens of businesses that publicly opposed a Georgia law that was enacted last…
After Dire Year England’s Shops Hope for End-of-Lockdown Shopping Spree
LONDON—After more than three months of enforced closure due to the COVID-19 pandemic, non-essential stores in England reopen their doors on Monday, hoping that the escape from lockdown will fuel a trading boom. Industry lobby group, the British Retail Consortium, estimates UK stores have lost £27 billion ($37 billion) in sales over three lockdowns, while…
Verizon Recalls Mobile Hotspots Sold to Schools, in Stores
NEW YORK—Verizon is recalling 2.5 million mobile hotspots after some reports of overheating and two reports of minor burns. The 4G hotspots were used by schools and sold by stores. They are called Ellipsis Jetpack mobile hotspots and were imported by Franklin Wireless in San Diego. The U.S. Consumer Product Safety Commission said Thursday that…
Amazon Warehouse Workers Reject Union Drive in Majority Vote
Efforts to unionize Amazon warehouse workers in Alabama were unofficially defeated on Friday by a more than 2-to-1 margin with more than half of the ballots counted. So far, over 1,700 voted against forming a union, with nearly 700 ballots in favor. A simple majority is needed for victory, but both sides have the right…
Amazon Union Organizers Deflated as Vote Tilts Against Them
Amazon is heading into the final stretch of a union push in Bessemer, Alabama, with a sizeable lead over labor organizers. With nearly half the ballots counted Thursday night, 1,100 warehouse workers had rejected the union while 463 voted in favor of it. The count will resume Friday morning in Birmingham, Alabama, where agents for…
Global Minimum Tax Rate Bad for Free Market, National Sovereignty: Economists
April 9, 2021
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Economists are sceptical of the Biden administration’s push for a global minimum tax rate for corporations, saying not only will it “frustrate” the free market, but it will see very little support from foreign governments. “At the end of the day, any international agreement is essentially toothless due to the existence of national sovereignty,” Gigi…
Toyota Unveils New Models in Advanced Driver-Assist Technology Push
April 9, 2021
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TOKYO—Toyota Motor Corp unveiled on Thursday new models of Lexus and Mirai in Japan, equipped with advanced driver assistance, as competition heats up to develop more self-driving and connected cars. Toyota’s latest launch comes as automakers, electric car startups and tech giants invest heavily in so-called active safety features. The Japanese carmaker’s new driving assist…
GM, Ford Cutting More North American Production Due to Chip Shortage
WASHINGTON—General Motors Co (GM) and Ford Motor Co both said on Thursday they will cut more vehicle production due to a semiconductor chip shortage that has roiled the global automotive industry. The White House plans a summit on the chip shortage issue next Monday that is expected to include GM Chief Executive Mary Barra and…
Biden Calls for Global Minimium Tax Rate to Target US Companies In Tax Havens
April 8, 2021
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President Joe Biden said Wednesday that he will push for the adoption of a global minimum corporate tax rate to reduce opportunities for tax-rate arbitrage by American corporations that reduce their U.S. tax burden by shifting profits to low-rate tax havens. “I’ve also proposed a global minimum tax, which is being proposed around the world…
World’s Poorest Nations Face ‘COVID-19 Debt Trap’
April 7, 2021
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WASHINGTON—The world averted a systemic debt crisis amid the pandemic. However, the poorest developing countries continue to face significant debt problems, raising global worries over multiplying debt traps by creditors like China. Addressing the rising risk of a systemic debt crisis in developing countries is one of the key themes at this week’s virtual spring meeting of…
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