PRAGUE—Czech carmaker Skoda would have to cut 3,000 jobs and axe some models if the European Union’s “Euro 7” emissions scheme is implemented in its current form, a Skoda board member warned in a TV debate on Sunday. The proposed Euro 7 law, which EU countries and lawmakers will start negotiating this year, would tighten…
Volkswagen’s Skoda Would Cut 3,000 Jobs If ‘Euro 7’ Implemented in Current Form
Nike Sales to Gain From Adidas–Kanye Split, Jordan Retro Demand
Nike is expected to report a rise in third-quarter revenue and grow its market share through 2023, helped by major rival Adidas’ split with designer and rapper Kanye West that caused the German company to lose about $600 million in quarterly sales. Nike is also expected to get a boost from higher sales of its…
Starbucks New CEO Laxman Narasimhan Takes His Seat
Starbucks officially has a new CEO. The Seattle coffee giant said Monday that Laxman Narasimhan has assumed the role of CEO and joined the company’s board of directors. Narasimhan succeeds longtime Starbucks leader Howard Schultz, who came out of retirement last spring to serve as interim CEO while the company searched for a new chief…
Turnbull Replaces Rudd in News Corp Crusade
March 20, 2023
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AustraliaBusiness & MarketsCompaniesInternationalKevin RuddMalcolm TurnbullMedia & Big TechNews Corproyal commissionRupert MurdochUSUS NewsWorld
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Former Labor Prime Minister Kevin Rudd has handed over the reins of a push for a parliamentary investigation into Rupert Murdoch’s News Corp. Going forward, ex-Prime Minister Malcolm Turnbull (2015-18) of the Liberal Party will co-chair the “Australians for a Murdoch Royal Commission” alongside Sharan Burrow, former general secretary of the International Trade Union Conference…
‘Australia’s Banks Are Unquestionably Strong’: RBA Assures Australians After US Banking Crisis
March 20, 2023
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AustraliaBusiness & MarketsCompaniesCredit SuisseeconomyinflationInvestmentReserve Bank of AustraliaSilicon Valley BankWorld
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The Reserve Bank of Australia (RBA) has assured the public that Australian banks are in a solid position despite the high-profile collapses of several global banking organisations lately. Addressing representatives of financial institutions across Australia during a debt capital market summit in Sydney, RBA assistant governor Christopher Kent said that while Australian financial markets still…
First Republic Shares Fall 47 Percent Following Multiple S&P Downgrades
First Republic Bank’s shares tanked again on Monday, falling 47 percent and surpassing last week’s lows. The slide follows yet another downgrade in the bank’s credit rating by Standard & Poor’s, which dropped First Republic to B+ from BB+ on Sunday after first lowering it to junk status just last week. The rating agency said…
EV Charging Making Inroads to Rural America, Tennessee and Rivian Partnership Shows
March 20, 2023
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Business & MarketsCompaniesenergyEnvironmentEV chargingEVsRegional & State NewsRivianSciencestate parksTennesseeUSUS News
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The push to electrify America’s roadways has reached Tennessee state parks in recent years, as the state partnered with electric vehicle (EV) company Rivian to install electric car chargers in some of the most remote areas of the state. For example, Fall Creek Falls State Park, the largest and most visited state park in Tennessee,…
Amazon to Axe Another 9,000 Jobs, Citing ‘Uncertain Economy’
Amazon on March 20 announced yet another round of layoffs, saying that it’s letting go of 9,000 employees or roughly 3 percent of its corporate workforce. In a blog post published on March 20, CEO Andy Jassy said the cuts will primarily affect those in Amazon’s cloud web services, the Twitch gaming division, advertising, and…
Amazon to Cut Another 9,000 Jobs, Citing ‘Uncertain Economy’
Amazon on March 20 announced another round of layoffs, saying that it’s letting go of 9,000 employees or roughly 3 percent of its corporate workforce. The cuts will primarily affect those in Amazon’s cloud web services unit, the Twitch gaming division, advertising, and the PXT Solutions unit, CEO Andy Jassy said in a blog post published…
RMT Union Members at Network Rail Accept Pay Offer but Disputes Continue With Train Operators
Members of the Rail, Maritime, and Transport (RMT) union at Network Rail have voted overwhelmingly in favour of accepting an offer to end the dispute that has caused a series of strikes in recent months. The union said the deal includes an uplift on salaries of between 14.4 percent for the lowest paid grades to…
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