A new study suggests one of the most frequently-cited metrics showing the severity of the pandemic may not be as meaningful as previously thought.
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After being stuck in Canada for nearly three years, largely confined to her multi-million-dollar house in Vancouver, Huawei Chief Financial Officer Meng Wanzhou on Friday was set to return home to China https://www.reuters.com/technology/huawei-cfo-meng-appear-court-expected-reach-agreement-with-us-source-2021-09-24. Like many top Chinese executives, Meng has remained an enigmatic figure. The 49-year-old CFO of Huawei Technologies had been widely tipped to one day take the helm of the tech giant her father founded.
Rivian, the electric vehicle startup that’s gearing up for an initial public offering, continues its trend of growing fast. The company will be opening a service support operations facility for vehicle owners in Plymouth, Michigan -- and just in time, as deliveries of the launch edition of the R1T pickup are expected to commence late this month. The facility will create 100 new jobs and come at an investment of $4.6 million, $750,000 of which comes from a business development grant from the state.
The global auto industry could lose $210 billion in revenue this year due to supply issues, double the forecast months ago, according to the consulting firm AlixPartners.
MELBOURNE (Reuters) -Australian Energy Regulator (AER) has filed a lawsuit against Neoen SA, saying the French firm's Tesla "Big Battery" in South Australia did not provide backup power during four months in 2019 for which it had received payment. Neoen said it was disappointed with AER's decision. On-demand power from storage is critical for preventing blackouts in Australia which is increasingly dependent on wind and solar farms from which energy is not always available.
China is selling its first ever batch of crude oil from its strategic petroleum reserve tomorrow (Sep. 24). This is the “coming of age of China’s [strategic petroleum reserve],” said Michal Meidan, director of the China energy program at the Oxford Institute of Energy Studies in London. “What’s happening on Friday is a test, the first test, of China’s SPR mechanisms…China has never done an SPR release before.”
- Motley Fool
Many seniors spend months or years trying to figure out when to file for Social Security. Clearly, there are pros and cons to claiming Social Security at different ages. If you file at the age of 70, your monthly benefit will be higher on a permanent basis, but you may have to work longer and delay your retirement to make that happen.
SHENZHEN, China (Reuters) -China's Huawei Technologies will see revenue from its smartphone business drop by at least $30-40 billion in 2021, with new growth streams unlikely to make up the shortfall in the next few years, chairman Eric Xu said. While the firm has been "getting used to U.S. sanctions" imposed on it since 2019, its new 5G related business areas cannot offset the losses from the handset business, Xu, who is rotating chairman this year, said at a press conference in Beijing on Friday. Former U.S. president Donald Trump put Huawei on an export blacklist in 2019 and barred it from accessing critical U.S.-origin technology, impeding its ability to design its own chips and source components from outside vendors.
- The Telegraph
Interest rates set to rise as soon as February amid inflation surge Driver shortage: Queues build at petrol stations Energy crisis: Another UK supplier closes to new customers Collapsed Avro Energy paid directors £2.2m despite £28m loss Ben Wright: Our complacent leaders are fuelling a cost of living shock Sign up here for our daily Business Briefing newsletter
- Business Insider
The owner of a Texas taco restaurant that closed down in the labor shortage says larger companies poached his staff with $5,000 pay rises
Taco Crush had just three kitchen staff left when it closed, its owner told Insider. He said job applicants didn't show up for interviews.
- Business Insider
FedEx says it's rerouting more than 600,000 packages a day because it can't find enough staff to process them
A FedEx hub in Portland, Oregon, was down 35% of the staff it needed to handle normal volume, and was diverting a quarter of packages, the COO said.
Soaring energy prices and cheap valuations make this group attractive.
- Washington Post
The global semiconductor shortage that has paralyzed automakers for nearly a year shows signs of worsening, as new coronavirus infections halt chip assembly lines in Southeast Asia, forcing more car companies and electronics manufacturers to suspend production. A wave of delta-variant cases in Malaysia, Vietnam and the Philippines is causing production delays at factories that cut and package semiconductors, creating new bottlenecks on top of those caused by soaring demand for chips.Subscribe to
- Yahoo News Video
As the Delta variant of COVID-19 wreaks havoc across the country, a growing number of health care professionals have taken an extreme stance that they claim will slow the spread: They say they will no longer treat the unvaccinated. While the basic premise of their decision may be legal, much of the medical profession is guided by ethics, and many experts disagree with the reasoning behind this decision.
Marvel filed five lawsuits on Friday seeking to block the heirs of comic book creators from reclaiming copyrights to many of its most popular characters, including Spider-Man, Iron Man, Thor, Black Widow, Captain Marvel, Ant-Man and Doctor Strange. The move comes after heirs of five Marvel authors filed dozens of termination notices with the U.S. […]
- CBS MoneyWatch
Meng Wanzhou, CFO and daughter of Huawei's founder, is likely to be allowed to return to China after admitting she tried to evade Iran sanctions.
The court said the model suffered a huge loss due to the wrong haircut.
NEW DELHI (Reuters) -Ford Motor Co's India head Anurag Mehrotra has quit the company to pursue other career opportunities, days after the U.S. automaker said it would stop making cars in the Asian nation https://reut.rs/3uaF8tN, taking a hit of $2 billion. Mehrotra, according to his LinkedIn profile, has spent over a decade with Ford in India across multiple roles including marketing, sales and most recently as president and managing director. Sept. 30 will be Mehrotra's last day, a source with knowledge of the information told Reuters.
- American City Business Journals
Cincinnati-based consumer goods giant Procter & Gamble has issued rules regarding the coronavirus vaccine for its employees in the United States.
- WLS – Chicago
Workers said they have been working under harsh conditions with low pay during the pandemic, and they want to see changes.
LONDON (Reuters) -Oil giant BP said on Thursday it was having to temporarily close some petrol filling stations in Britain because of a lack of truck drivers, hours after a junior minister cautioned the public not to panic buy amid fears of food shortages. Small Business Minister Paul Scully said Britain was not heading back into a 1970s-style "winter of discontent" of strikes and power shortages amid widespread problems caused by supply chain issues. Soaring wholesale European natural gas prices have sent shockwaves through energy, chemicals and steel producers, and strained supply chains which were already creaking due to insufficient labour and the tumult of Brexit.