Posts by Yurie Miyazawa
Apple sued by female employees claiming pay discrimination
APPLE was sued by two female employees who claim it “systemically” pays women less than their male counterparts for similar work, and who are seeking to represent thousands of other women facing the same alleged discrimination. They claim that Apple, of Cupertino, California, determined starting salaries before 2018 by asking employees for their compensation history…
Read MoreOil edges higher as Opec comments feed demand hopes
OIL prices rose slightly on Thursday in up-and-down trade, supported by an Opec forecast for demand growth and as data showing an US easing labour market and slowing inflation which stoked hopes for Federal Reserve rate cuts despite recent comments form Fed officials. Brent crude futures settled at US$82.75 a barrel, up 15 cents, or 0.2…
Read MoreChina’s Chery Auto: EU factory will help mitigate EV tariffs
CHERY Auto, China’s largest automaker by export volume, expects its planned production in Europe to help offset the impact of European Union tariffs on imports of China-made electric vehicles, a senior executive said on Thursday (Jun 13). Having local production “should help us mitigate some of the impact” of duties, Charlie Zhang, vice-president of Chery…
Read MoreBoeing investigates quality problem on undelivered 787s, sources say
BOEING is investigating a new quality problem with its 787 Dreamliner after discovering that hundreds of fasteners have been incorrectly installed on the fuselages of some undelivered 787 Dreamliner jets, two people familiar with the matter said. The latest in a series of manufacturing snags affecting the US planemaker involves incorrect “torquing” or tightening in…
Read MoreS Korea extends short-selling ban, threatens life in jail for illegal bets
SOUTH Korea is extending a ban on stock short selling to Mar 30 next year and planning harsher penalties for illegal trades. “If short selling is resumed without a monitoring system in place, there is the risk that massive illegal activities may be repeated,” said Kim Soyoung, vice-chair at the Financial Services Commission. “It will…
Read MoreLloyds to move thousands back into refurbished City of London HQ
LLOYDS Banking Group is moving thousands of staffers back into a refurbished building in the heart of the City of London as the lender looks to reduce its office footprint by the end of this year. The lender is planning to reopen its offices at 33 Old Broad Street in November after spending 18…
Read MoreGoldman Sachs aims to double lending to wealthy private bank clients
GOLDMAN Sachs aims to double its lending over the next five years to ultra-wealthy private bank clients with account sizes exceeding US$10 million, as it gathers more deposits to supercharge lending, the bank’s private banking chief told Reuters. The plans, previously unreported, were disclosed to Reuters by Nishi Somaiya, Goldman’s global head of private banking,…
Read MoreBOE reserves enter UK election debate as politicians chase cash
UK politicians are mulling changes to the way the Bank of England (BOE) pays out interest to commercial banks as they look for ways to generate more fiscal headroom ahead of elections next month. The most radical proposal came from Nigel Farage’s right-wing populist party Reform UK, which over the weekend advocated scrapping payments entirely,…
Read More‘Door open’ for multiple cuts this year despite Fed’s move to hold rates steady
DESPITE the US Federal Reserve dialling back on its forecast for cuts following its latest policy meeting, analysts say that the “door is open” for two cuts this year, with most expecting the first to come as early as September. They also expect the Asian equity market and bonds to remain attractive to investors despite…
Read MoreChina urges EU to reverse ‘wrong direction’ on EV tariffs
BEIJING hopes the European Union will reconsider tariffs on Chinese electric vehicles and stop going further in the “wrong direction” to shield its auto industry from competition, according to state news agency Xinhua. The reaction from China and others embroiled in the dispute, including European and Chinese carmakers, points to clear opposition to the EU…
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