NEW YORK: ExxonMobil said on Thursday (Oct 29) it could cut its global workforce by about 15 per cent, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices. Exxon and other oil producers have been slashing costs due to a collapse […]
Business
WASHINGTON: The US economy grew at a record pace in the third quarter as the government injected more than US$3 trillion worth of pandemic relief which fuelled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal. Though the Commerce Department’s report […]
NEW YORK: Facebook on Thursday (Oct 29) warned of a tougher 2021 despite beating analysts’ estimates for quarterly revenue as businesses adjusting to the global pandemic continued to rely on the company’s digital ad tools. The social media company said in its outlook that it faced “a significant amount of […]
Lawmakers of both parties are assessing the companies’ tremendous power to disseminate speech and ideas, and are looking to challenge their long-enjoyed bedrock legal protections for online speech. With next week’s election looming, the CEOs of Twitter, Facebook and Google were scolded by Republicans at a Senate hearing Wednesday for […]
According to the Victoria state government the lockdown changes will allow 6,200 retail stores, 5,800 cafés and restaurants, 1,000 beauty salons and 800 pubs to reopen, impacting 180,000 jobs. Coffee business owner Darren Silverman pulled his van over and wept when he heard on the radio that Melbourne’s pandemic lockdown […]
MELBOURNE: Melbourne’s shops, restaurants and hotels opened for business on Wednesday (Oct 28) after a four-month coronavirus lockdown, with happy customers enjoying alfresco eating in the spring sunshine and shopkeepers hoping for big sales to make up for lost revenue. The state of Victoria and its capital Melbourne, Australia’s second […]
SINGAPORE: A new task force has been set up to help vulnerable professionals, managers and executives (PMEs), particularly those who are aged 40 to 60. This was announced by the National Trades Union Congress (NTUC) and the Singapore National Employers’ Federation (SNEF) on Tuesday (Oct 27), and comes two months […]
SINGAPORE: More than 2,100 job, attachment and training opportunities in the logistics sector were made available under the SGUnited jobs and skills programme between April and September, with the majority of them in non-professional roles, said the Ministry of Manpower (MOM) in its latest jobs situation report on Monday (Oct […]
MANILA: Philippine President Rodrigo Duterte said on Tuesday (Oct 27) that he prefers a government-to-government deal for the purchase of COVID-19 vaccines to prevent the risk of corruption, adding that Manila would not beg other nations for access to vaccines. The Philippines, with its more than 108 million people and […]
SHANGHAI: China’s Huawei Technologies Co Ltd reported a 9.9 per cent rise in nine-month revenue on Friday, as US export restrictions and the global COVID-19 pandemic weakened sales growth in products such as smartphones and telecoms equipment. Revenue reached 671.3 billion yuan (US$100.44 billion) over January-September, it said in a […]