The United Auto Workers union significantly escalated its walkout against Detroit’s Big Three automakers, shutting down Ford’s largest factory and threatening Jeep maker Stellantis. 8,700 workers at factory that makes F-150 truck and expensive SUVs walk off job. The United Auto Workers union significantly escalated its walkout against Detroit’s Big …
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RCBC, Hungarian FinTech opens doors to OFW digital banking
THE Philippines’ first embedded finance initiative for overseas Filipino workers (OFWs) through the collaboration between Rizal Commercial Banking Corporation (RCBC) and Hungary-based fintech Peak Card Services Ltd. (Peak) and Columbus Private Equity Fund (Columbus) was announced during the series of events organized for the celebration of the 50th anniversary of …
Read More »Remember this spring’s $20M gold heist at Pearson? Brink’s is suing Air Canada to get its money back
Brink’s security is suing Canada’s biggest airline for more than $20 million for allegedly letting a thief walk into an Air Canada facility at Pearson airport and walk out with gold bars and cash. Security company suing to get back the money it lost in the caper. Brink’s is suing …
Read More »Singapore economy grew rapidly in Q3
SINGAPORE: Singapore’s economy grew faster than expected in the third quarter, preliminary government estimates showed on Friday, as construction and services made up for a continued slump in manufacturing. Gross domestic product expanded 0.7 percent year on year in the three months ending in September, beating forecasts of around 0.4 …
Read More »World Bank needs to get ‘better,’ ‘bigger’
MARRAKESH, Morocco: The World Bank’s new president, Ajay Banga, said on Wednesday that the global lender must become “better” and “bigger” to boost its capacity to help developing countries battle climate change, poverty and pandemics. Banga, who was appointed in June, made his plea at the annual meetings of the …
Read More »US auto strike widens
WASHINGTON, D.C.: Autoworkers strike in the United States expanded on Wednesday with 8,700 more employees walking off their jobs, said the United Auto Workers (UAW) union, as a deal with major automakers remained elusive. The staff at Ford’s Kentucky Truck Plant in Louisville join some 25,000 other UAW members on …
Read More »Goodbye, cashiers: Amazon tech lets shoppers skip the checkout
Amazon’s retail technology lets customers tap a credit or debit card, grab items off the shelves and walk straight out — but do the privacy risks outweigh the convenience? Grab-and-go shopping experience now available at arenas in Calgary and Toronto. Amazon grab-and-go shopping comes to Canada, and so do privacy …
Read More »Exxon makes $60B bet on shale oil with deal to buy Permian giant Pioneer
Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest U.S. oilfield and secure a decade of low-cost production. Biggest deal for Exxon since it bought Mobil. Exxon Mobil agreed to buy …
Read More »Diokno calls for financing model reforms
IMPROVING climate finance with fairer terms is essential for climate justice, said Finance Secretary Benjamin Diokno, prompting multilateral development banks (MDBs) to provide better financing options for global challenges. “Now, as rising interest rates and increasing costs of international borrowing are likely to further restrict government budgets and curtail priority …
Read More »Birkenstock aims for $8.6B IPO valuation
NEW YORK CITY: German sandals maker Birkenstock will launch on the New York Stock Exchange on Wednesday in an initial public offering (IPO) that values the company at $8.6 billion, according to multiple media reports. Shares in the company, which was in the hands of the founding family until 2021, …
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