Business

08
Dec
Chinese export growth accelerates in November

China's exports rose more than expected in November adding to signs of a rebound in the world's second-largest economy. Shipments rose 12.7% from a year ago, up from a 5.6% rise in October. Most analysts had forecast a growth of 7%. Last week, data showed manufacturing activity in China grew at its fastest pace in 18 months in November. The jump in exports was triggered by strong demand from important markets such as the US and European... [read news]

07
Dec
How Paul Walker helped create a fast and furious box-office franchise

Hollywood executives love a movie franchise: a series of films with an in-built audience who return time and again to enjoy their favorite characters, stories and themes. Such box-office gold is usually based on pre-existing properties, for example comics ("Iron Man" et al), novels ("The Hunger Games") -- even theme-park rides ("Pirates of The Caribbean"). But the strong interest that followed the death of actor Paul Walker last weekend... [read news]

06
Dec
US jobless rate falls to 5-year low in November

The US unemployment rate has fallen to a five year low of 7% in November, according to the US Labor Department. 203,000 new jobs were created last month, more than predicted, as the world's largest economy displayed more signs of strength. The monthly non-farm payroll figure is closely watched by economists. Analysts say these indications of strong growth could mean that the Federal Reserve will start to unwind its massive stimulus... [read news]

05
Dec
US fast-food workers staging nationwide strike

Fast-food workers across the US are staging a 24-hour strike in protest at low wages, organisers say. Walkouts are reportedly under way in New York, Chicago, Washington DC, and also Detroit, Michigan; Raleigh, North Carolina; and Pittsburgh, Pennsylvania. Organisers hope nearly 100 cities will participate in what is the latest in a series of strikes. Labour unions are seeking a federal minimum wage higher than the current $7.25 (£4.43) per... [read news]

03
Dec
Detroit judge rules bankruptcy process can proceed

A federal judge has ruled Detroit should be granted protection from its creditors, marking the largest public bankruptcy in US history. US bankruptcy judge Steven Rhodes said payments to retired staff, which make up half of the city's liabilities, could be "impaired" as a result. Detroit is now expected to submit a plan to rid its balance sheet of $18bn (£11bn) of liabilities. The city filed for bankruptcy protection more than four... [read news]

02
Dec
Black Friday Sales Plummet as Shoppers Opt For Thanksgiving Day

Shoppers spent significantly less money this Black Friday, but there was an increase in store traffic over the weekend as more consumers showed up on Thanksgiving Day. Retail analytics firm ShopperTrak said sales on Black Friday plummeted by 13.2%, with traffic shrinking by 11.4%. However, traffic and sales were up when counting the weekend as a whole with retailers opening their doors and offering "door buster" deals earlier than ever on... [read news]

01
Dec
Lidl discount supermarket plans to double UK stores

Lidl, the German discount supermarket chain, is planning to double the number of stores it has in the UK. Lidl wants to expand from 600 stores to as many as 1,500, UK managing director Ronny Gottschlich told the Sunday Telegraph. Lidl is planning to open at least 30 new stores a year, he said. The retailer's sales have been increasing, in contrast to big supermarkets such as Tesco. "We really see ourselves these days more of a supermarket... [read news]

30
Nov
Kenya launches new railway to reach South Sudan and Burundi

Kenya has formally launched a new, Chinese-financed railway which should extend across East Africa to reach South Sudan, DR Congo and Burundi. The first section will link the Kenyan port of Mombasa to the capital, Nairobi, reducing the journey time from 15 hours to about four. It is said to be the country's biggest infrastructure project since independence 50 years ago. The cost of the railway will be $5.2bn (£3.2bn) - mostly funded by... [read news]

25
Nov
Five reasons underdogs win in the workplace

I am an underdog in life. From the moment I entered the world, I was handed a collection of circumstances that most first world people would label as "disadvantages." I grew up in a poor, single parent family. My dark features and Middle Eastern last name further complicated my Midwestern upbringing. I didn't look like anyone else (including my mother). Racism, economic hardship, and familial struggles were my everyday reality from the... [read news]

24
Nov
Swiss voters reject proposal to cap executive pay

Swiss voters overwhelmingly rejected a proposal to cap the salaries of top executives Sunday, heeding warnings that the limit could damage its economy and businesses. The "1:12 -- for fair wages" initiative, which proposed capping executive salaries at 12 times the lowest paid employee's, was rejected by 65.3% of voters, and failed to win majority support in any of the country's 26 districts. The vote means that Swiss-based executives at... [read news]


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