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Companies

United Airlines launches new employee exit deals with pay, memo shows
Companies

United Airlines launches new employee exit deals with pay, memo shows

  • Chicago-based United said on Wednesday that it planned to offer voluntary leave options for employees as part of an effort to cut about $2 billion of annual costs through 2023.
  • It ended up furloughing around 13,000 employees last October when an initial round of payroll aid for airlines that banned job cuts expired.
Published 22 Jan, 2021 09:38pm
GM warns Indian state's move to block its exit could hit investment
Companies

GM warns Indian state's move to block its exit could hit investment

  • GM's comments came after authorities in Maharashtra earlier this week rejected the automaker's application to cease operations at its plant in the western Indian state amid protests by workers.
  • In January 2020, it agreed to sell its second factory in the state's Talegaon district to Chinese automaker Great Wall Motor Co.
Published 22 Jan, 2021 08:31pm
Developer complains to EU over Apple, Google app rules after COVID game rejected

Developer complains to EU over Apple, Google app rules after COVID game rejected

  • Several developers have challenged Google and Apple over their app policies, triggering calls for regulatory action as nearly all smartphones outside restricted markets such as China come with either Google's Play store or Apple's App Store.
  • In the United States, state attorneys general are planning a lawsuit against Google over its Play Store for Android phones following complaints.
Published 22 Jan, 2021 08:25pm
Russia starts paying Belarus compensation for dirty oil
Companies

Russia starts paying Belarus compensation for dirty oil

  • The compensation for the dirty oil, which showed up in the Druzhba pipeline in April 2019 and rattled European oil markets.
  • The total payment will equate to roughly $15 per barrel, the highest possible level of compensation promised by the Russian oil pipeline monopoly Transneft.
Published 22 Jan, 2021 08:13pm
Amazon to hike fees for Spanish users after new digital tax
Companies

Amazon to hike fees for Spanish users after new digital tax

  • An Amazon spokesman confirmed the so-called Google tax, which Spain began charging on revenues of large digital companies from Jan. 21, would hit users of its services.
  • The Amazon document confirmed an earlier report by Spanish online media El Confidencial.
Published 22 Jan, 2021 07:13pm
Alphabet closes down internet balloon network project 'Loon'

Alphabet closes down internet balloon network project 'Loon'

  • Loon was deployed to provide internet in Puerto Rico after Hurricane Maria in 2017, as well as after a major earthquake in Peru.
  • Operations will be wound down in "the coming months", with the hope that Loon employees will be redeployed at Alphabet, the firm said.
Published 22 Jan, 2021 05:26pm
China's HNA Group says efforts to resolve liquidity crisis progressing
Companies

China's HNA Group says efforts to resolve liquidity crisis progressing

  • Risk disposal efforts are progressing smoothly and will soon enter a critical period, the company said in a statement on its social media account.
  • HNA Group was once one of China's most aggressive deal-makers, spending $50 billion in a global acquisition spree that saw it take stakes in big names such as Deutsche Bank AG and Hilton Worldwide Holdings Inc.
Published 22 Jan, 2021 04:27pm
Stellantis' Tavares launches charm offensive with Italian unions
Companies

Stellantis' Tavares launches charm offensive with Italian unions

  • The world's fourth-biggest carmaker was officially created on Saturday from the merger of Fiat Chrysler (FCA) and Peugeot-maker PSA.
  • Marco Lomio of the UILM union in the Basilicata region, where Melfi is located, said Tavares took time to listen to and answer all questions.
Published 22 Jan, 2021 04:20pm
AirAsia Group to raise up to $113mn via private placement
Companies

AirAsia Group to raise up to $113mn via private placement

  • "The proposed private placement will not fully address the Group's current financial concerns as the estimated gross proceeds of up to approximately 454.51 million ringgit would not be sufficient to meet its long-term cash flow requirements," it said.
Published 22 Jan, 2021 11:33am