CHARLESTON, South Carolina—Boeing Co. has increased production of its widebody 787 Dreamliner from three to four planes per month as it gets ready to ramp to five a month by the end of the year, a company official said on Tuesday. The U.S. planemaker also plans to add a second production line to the company’s…
Retail Crime in New Zealand Remains Rampant Despite Government Measures
As New Zealand continues to endure a retail crime wave, some small business owners have criticised the central government’s latest measures for security fog cannons which they say is doing nothing to address the root issue. An anti-theft device, the fog cannons work by releasing an immediate cloud of fog, making it much more difficult…
ESG Advocates Say Anti-ESG Movement Creating ‘Concerns and Challenges’
May 30, 2023
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Business & MarketsChip RoyCompaniesDemocratseconomyEnvironmentESGInvestmentJohn PodestaMedia & Big TechPoliticsScienceSocial IssuesThe EconomistUnited NationsUSUS NewsWorld Economic Forum
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It’s counterstrike time: the Republican-led movement against environmental, social and corporate governance (ESG) investing came under fire at a major environmental conference on May 30. “I don’t think there’s any chance that the anti-ESG movement will win,” said Witold Henisz, a vice dean and faculty director of the ESG Initiative at the University of Pennsylvania’s…
Major Grocery Chain Trying to Keep Stores Open Due to Increase in Theft, Violence
An East Coast grocery chain confirmed that it is attempting to keep its stores open in the midst of rampant retail theft and crime across the United States. Giant Food, which operates more than 160 locations in several states, is now restricting location entrance points, boosting store security, having fewer high-dollar items on its shelves,…
Ex-Lululemon Employees Say They Were Fired for Calling Police on Looters
Two former Lululemon employees in Georgia say they were fired for allegedly breaking company policy when they called the police to report a robbery at their store earlier this month. Jennifer Ferguson, a former assistant manager at a Lululemon store in Peachtree Corners, and one of her employees, Rachel Rogers, told local outlets they reached…
Wall Street Opens Higher on Tentative Debt Ceiling Deal; Nvidia Jumps
Wall Street’s main indexes opened higher on Tuesday as lawmakers tentatively agreed to raise the nation’s debt limit to avert a default, while shares of Nvidia led a rally among chipmakers and AI-related firms. The Dow Jones Industrial Average rose 10.31 points, or 0.03 percent, at the open to 33,103.65. The S&P 500 opened higher…
Toyota’s April Global Sales Rise on Stronger Demand in Japan, China
May 30, 2023
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Asia & PacificBusiness & MarketsChina Business & EconomyChina NewsCompaniesglobalInternationalMarketssalesToyotaWorld
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TOKYO—Toyota Motor Corp.’s global sales rose by nearly 5 percent in April from a year earlier, boosted by stronger demand for hybrids and gasoline-powered cars in Japan and China. The Japanese automaker also reported better overseas sales of battery electric vehicles (EVs), bringing the total number of battery-powered units it sold in the first four…
Startup Raises $70 Million to Develop Human-Like Robot
May 30, 2023
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artificial intelligenceartificial intelligence (AI)Business & MarketsCompanieshumanoid robotTechTech NewsUSUS News
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An AI robotics startup from California has raised over $70 million to build a humanoid robot that the company expects will be used to do a wide range of manual labor. Sunnyvale-based Figure is developing Figure 01, which the company thinks will resolve labor shortages, support the global supply chain, and perform dangerous tasks. Figure…
Dollar, European Stocks Steady With US Debt Deal in Focus
May 30, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—The U.S. dollar steadied after climbing to a two-month high and European stocks flattened on Tuesday as relief that a possible default by the U.S. government had been averted gave way to concern that the deal could face a rocky path through Congress. The U.S. dollar index and longer-dated U.S. Treasuries rallied as traders welcomed…
Australian Fashion Giant Cops $29,000 Fine for Underpaying Workers
May 30, 2023
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AustraliaBusiness & MarketsCompanieseconomic policiesFashionLeanne Castleylong service leaveMosaic BrandsSophie CotsisWorld
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Australia’s largest speciality fashion retailer has faced a A$29,000 (US$18,875) fine for underpaying its workers for long service leave. Mosaic Brands, which has 1,110 stores nationally, including Millers, Rivers, Katies, Rockmans and Noni B, pleaded guilty to 324 offences in Downing Centre Local Court. The court issued the fine on Monday. This is the record…
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