Starting next week, Microsoft’s current vacation policy will change to an unlimited one, meaning all salaried employees in the United States can take time off as needed and also will no longer need to wait and accrue holiday anymore. The new policy, which goes into effect on Jan. 16, is described by the world’s biggest…
Microsoft Says It Will Start Offering US Employees ‘Unlimited’ Time Off
Volkswagen Group Deliveries Lowest in Over a Decade
BERLIN—The Volkswagen Group reported its lowest sales in over a decade in 2022 as COVID-19 lockdowns in China and the war in Ukraine upended supply chains, and a fourth-quarter recovery risks running into further challenges this year. The German group, whose brands range from mass-market VWs and Skodas to premium Audis and Bentleys, said on…
Former Employees Sue ESPN After Being Fired for COVID-19 Vaccine Refusal
January 12, 2023
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AMERICABusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesEditor's PicksESPNUSUS Newsvaccine mandate
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Two former employees are suing ESPN for being fired over COVID-19 vaccine refusal, alleging the company violated their rights and state and federal law in the process. Beth Faber, a former producer with the network, and Allison Williams, a college football reporter, brought the suit on Jan. 11 in federal court in Connecticut, where Disney-owned…
Coinbase to Cut a Fifth of Its Workforce in a Second Round of Layoffs
January 12, 2023
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Coinbase will be cutting a fifth of its workforce following an earlier staff reduction in June 2022 in an attempt to preserve its assets as the crypto industry faces a severe downturn. Some of the largest firms in Silicon Valley in general have been delivering a steady stream of job cut announcements in recent months….
More Bed Bath & Beyond Stores Closing
Yet more Bed Bath & Beyond stores are closing across the United States as the company attempts to fend off bankruptcy amid mounting debts and declining sales. The retailer said earlier this month that there was “substantial doubt” that it will be able to continue and was looking into “all strategic alternatives” to avoid going into…
Foreign Affairs Committee Chair Sounds Alarm Over ‘Stealth’ Chinese Purchase of Cambridge Chip Startup
January 12, 2023
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Foreign Affairs Committee Chair Alicia Kearns on Wednesday wrote to Business Secretary Grant Shapps, calling for a review into the Chinese take over of a UK semiconductor company. She said the investment into Cambridge University start-up Flusso wasn’t reviewed under the National Security and Investment Act because the name of the acquirer was not mentioned…
Stocks Hold on to Gains Ahead of US Inflation Test
January 12, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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MILAN—World stocks held on to modest gains on Thursday on cautious optimism that U.S. data will confirm inflation is softening, while the yen rose with a report Japan will this month review the side-effects of its ultra-easy policy. A MSCI gauge of world stocks rose 0.2 percent to a four-week high by 0831 GMT ahead…
Tesla Files for $776 Million Expansion of Texas Gigafactory
Tesla has applied to expand its gigafactory in Texas with an investment totaling $775.7 million, government filings showed, marking one of its largest expansion drives since setting up the $5.5 billion gigafactory in Germany last year. It plans to add five new facilities at its Austin site, including a cell test lab and a unit…
FAA Seeks to Extend Safety Mandate to Charter, Air Tour Operators, Aircraft Manufacturers
WASHINGTON—The Federal Aviation Administration (FAA) on Tuesday proposed requiring charter, commuter, air tour operators, and aircraft manufacturers to implement a key safety tool aimed at reducing accidents. The U.S. regulator wants to extend a mandate to adopt so-called Safety Management Systems (SMS), which are a set of policies and procedures to proactively identify and address…
Korean Firm Plans $2.5 Billion in New Solar Panel Plants in Georgia
ATLANTA—A South Korean solar panel maker said Wednesday that it will invest more than $2.5 billion to build factories in Georgia in what it says is the largest solar investment in American history. Qcells, a unit of Hanwha Solutions, projects it will supply about 30 percent of total U.S. solar panel demand by 2027, including…
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