Business

Received White House letter regarding global shortage of auto chips: Taiwan minister

Editorial Bureau February 20, 2021

TAIPEI (TAIWAN) – Taiwanese Economy Minister Wang Mei-hua said on Saturday she received a missive from the White House regarding the shortage of auto chips around the world, adding that semiconductor firms on the island are “doing what they should” to tackle the issue. Tight

Business

Amid pressure from activists, Danone cautions about tough start to year

Editorial Bureau February 19, 2021

PARIS (FRANCE) – Danone on Friday said it would go back to profitable growth in the second half of 2021 after facing a tough first quarter. It doubled down on a plan expected to bring in turnarounds, but was criticised as too slow by a few investors. Chairman and Chief Executive Emmanuel Faber has been […]

Business

UK’s top court rules say Uber drivers are entitled to worker rights

Editorial Bureau February 19, 2021

LONDON (UK) – Britain’s Supreme Court decided on Friday that a group of Uber drivers are entitled to worker rights such as the minimum wage. This move has come as a heavy blow to the service, which could impact millions of others in the gig economy. In a case initiated by two drivers, a London […]

Business

Talks between union, British Gas fail, strike to go ahead

Editorial Bureau February 19, 2021

LONDON (UK) – In the wake of talks between the union and Centrica’s British Gas ending in a fiasco, a four-day strike will begin at the firm, said the GMB union. To protest against what it terms plans to “fire and rehire” and slash workers’ pay and terms, the GMB union has already carried out […]

Business

Angry Birds creator Rovio raises dividend, swings to Q-4 profit

Editorial Bureau February 19, 2021

HELSINKI (FINLAND) – “Angry Birds” games franchise maker Rovio Entertainment recorded a profit in the fourth quarter from a year-ago loss, it said on Friday, adding that it would raise its full-year dividend by a third to 0.12 euros per share. The Finland-based firm’s operating profit stood at 2.9 million euros ($3.5 million) for the […]

Business

Lockdown easing roadmap of Britain must include travel – airlines

Editorial Bureau February 18, 2021

LONDON (UK) – Prime Minister Boris Johnson must show how travel will resume when he charts out his wider roadmap for relaxing COVID-19 restrictions on February 22, UK airline bosses said. Coronavirus restrictions on travel have left airlines struggling over the last year. British Airways and easyJet, considered Britain’s biggest airlines fear their sector could

Business

Oil prices rise amid fears of Texas energy freeze lasting for days

Ren Leen February 18, 2021

TOKYO (JAPAN) – Oil prices rose again on Thursday to touch 13-month highs as worries over a cold snap in Texas disrupting US crude output for days or even weeks led to fresh buying. Brent crude was up 56 cents, or 0.9%, at $64.90 a barrel at 0744 GMT, after witnessing a rise to $65.62 […]

Business

Nestle outperforms contemporaries, attributes to pet food, health products

Editorial Bureau February 18, 2021

ZURICH (SWITZERLAND) – Nestle wants to strengthen organic sales growth aiming for a mid-single-digit rate this year, said the food giant on Thursday, after increase in demand for pet food and health products in the Americas helped to have such growth so as to outshine peers last year. Throughout the pandemic, consumers have been buying […]

Business

Airbus predicts flat 2021 deliveries

Editorial Bureau February 18, 2021

PARIS (FRANCE) – Cash generated in the fourth quarter helped European aircraft manufacturer Airbus restore key business targets. However, it withheld a dividend after posting a coronavirus-spurred loss last year. After a 20-month safety grounding of the Boeing 737 MAX, Airbus overtook its rival to become the largest manufacturer of jets in the world. It […]

Business

Strong cloud, AI demand enable China’s Baidu to beat revenue estimates

Editorial Bureau February 18, 2021

BEIJING (CHINA) – Recovery in advertising and an uptick in demand for cloud services and artificial intelligence helped China’s Baidu Inc to report quarterly revenue above the predictions of Wall Street on Wednesday. The results come as the firm is bolstering its autonomous and smart transport technology to tap into the fast-growing electric-vehicle market and