Tag Archives: raise

By Tom Westbrook and Donny Kwok HONG KONG (Reuters) -Distressed developer China Evergrande will sell a half-stake in its property management unit to Hopson Development for more than $5 billion, Chinese media said on Monday, after both Evergrande and Hopson requested trading halts ahead of a major transaction. Once China’s top-selling developer, Evergrande is facing what could be one of the country’s largest-ever restructurings as a crackdown on debt leaves it unable to refinance $305 billion… Source link

BERKELEY, Calif. (AP) — Big Tech companies that operate around the globe have long promised to obey local laws and to protect civil rights while doing business. But when Apple and Google capitulated to Russian demands and removed a political-opposition app from their local app stores, it raised worries that two of the world’s most successful companies are more comfortable bowing to undemocratic edicts — and maintaining a steady flow of profits — than upholding the rights of their… Source link

U.S. House Ways and Means Committee Chairman Richard Neal (D-Mass.) promises the $3.5 trillion budget reconciliation bill will, “both address our perilously changing climate and create new, good jobs, all while strengthening the economy and reinvigorating local communities.” But Maya MacGuineas, the president of the nonprofit Committee for a Responsible Federal Budget, said politicians are punting on taxes and the promise to bring the bill in on budget. “What we’re seeing coming out of the… Source link

(Bloomberg) — Sea Ltd. aims to raise $6.3 billion in the largest equity offering of the year, a deal that will propel a global expansion and acquisitions for Southeast Asia’s largest company. The online gaming and e-commerce firm backed by Tencent Holdings Ltd. is offering 11 million shares, a stake worth about $3.8 billion at Wednesday’s close. It also intends to issue $2.5 billion of equity-linked debt. Sea, which has risen more than 70% this year, fell in post-marketing trading in New… Source link

Walmart (WMT), the nation’s largest private employer, is raising wages for 565,000 of its nearly 1.2 million store associates, marking the retailer’s third wage hike for hourly associates in the last year. “Effective Sept. 25, associates in the Frontend, Food & Consumable and General Merchandise work groups will receive at least a $1 an hour raise. That means a raise for more than 565,000 store associates. It’s our third wage investment in store associates over the past year,” U.S…. Source link

Under Armour (UA) CEO Patrik Frisk told Yahoo Finance in a recent interview that he expects upward pressure on prices to persist into next year, describing the recent surge in demand alongside supply chain disruption as an “opportunity for us to raise prices.”  The remarks from the head of one of the top sports apparel companies came days after Federal Reserve Chairman Jerome Powell downplayed the threat of long term inflation in a speech at the Jackson Hole Economic Symposium on… Source link

India’s second-largest service provider, Bharti Airtel, is in the news for two reasons. The company has come up with rights issues to raise funds for the upcoming 5G battle and to bring down its debt. Further, rumors are circulating that the internet giant Google is in talks with Airtel to invest in the company. There is strong speculation in media reports about a possible investment by Google in Bharti Airtel. Google has earlier invested in Airtel’s rival, Jio Platforms, the parent… Source link

The next Social Security raise may hit a 40-year record. But will it be enough? Consumer prices soared in June and July at an annual rate of 5.4, the highest since 2008. Steeper prices for gas, food, cars and countless other things are squeezing Americans, especially older ones with fixed, often modest incomes. But there’s a bright side: The spike in inflation could provide seniors next year with their biggest Social Security boost in almost four decades. In fact, advocates just raised their… Source link

As businesses emerge from COVID-19 lockdowns, many are facing the challenge of too few workers to accommodate strong demand. And while the labor shortage isn’t new, it’s definitely a sore spot for many that’s growing more acute. And amid a booming jobs market, some economists say the shortage isn’t labor related, but rather wage-driven — an economic third rail that companies big and small have increasingly grabbed in order to address widespread labor shortages.  Yet the strategy of… Source link

Express grocery delivery is the buzzword in European retail at the moment, and few operators have set the bar as high as Russia’s Yandex.Lavka, which promises deliveries within 10 to 15 minutes. This article first appeared in ESM July/August 2021. As the old Andy Warhol quote goes, “In the future, everybody will be famous for 15 minutes.” What the late pop artist might not have also realised is that the same time period could soon be sufficient to place, and receive, a basket of… Source link