BUSINESS

BUSINESS

Wanted 33,000 New Employees

Amazon.com, Inc., the American multinational technology company based in Seattle, Washington is seeking to hire 33,000 new employees. According to the company, the job vacancies are in corporate and technology, with pay for many positions rising into six figures. On average, the jobs will offer a total annual compensation of $150,000, including salary and stock awards. The company also plans […]

BUSINESS

China Checks In On TikTok Act

China appears to have complicated efforts to sell TikTok to an American company by introducing new rules that could allow Beijing to veto any potential deal. The twist in the TikTok saga stems from notices published by the Chinese government recently, when officials revised rules that govern the sale of certain kinds of technology to foreign buyers. The updated list […]

BUSINESS

Guyana — People To Reap Benefits From Oil Discoveries

In a recent report, the Guyana Government has reiterated that it would enact policies to ensure that citizens benefit from the country’s resources as ExxonMobil said it had made its 18th discovery offshore the country. ExxonMobil said that the discovery will add to the previously announced estimated recoverable resource of more than eight billion oil-equivalent barrels on the Stabroek Block. […]

BUSINESS

Airlines Draw Blank In New Republican U.S. Relief Package

According to press reports, the U.S. Senate Republican coronavirus spending proposal set to be introduced today will not include any new government assistance for U.S. airlines or airports. The measure, a pared-back version of a $1 trillion bill introduced in July by Republicans, comes amid a furious push by airlines and unions to get a six-month extension of a $25 […]

BUSINESS

United Airlines Set To Furlough 16,370 Workers

October 1 may not be the same for over 16000 workers at United Airlines as the company is readying itself to put them on furlough. Federal aid to the company will run out as early as next month, with Congress still dithering in their negotiation process. Meanwhile, the coronavirus pandemic has wreaked havoc on the airline industry, putting many airlines […]

BUSINESS

Australia’s Economy Sinks Into Recession

The COVID-19 pandemic has pushed Australia’s economy into its first recession in nearly 30 years. The country’s gross domestic product (GDP) decreased by seven percent in the April-to-June quarter compared to the previous three months. A country’s economy is deemed to fall in recession after two consecutive quarters of negative economic growth. Australia was the only major economy to avoid […]

BUSINESS

Microsoft Joins Walmart To Take Out TikTok

The race by U.S. companies to acquire the Chinese outfit TikTok is on. The forced sale of the company has come about on the order of U.S. President Donald Trump, charging that the company shares its user data with the Chinese government. The latest suitors making a bid for the company is the combined team of U.S. retail giant Walmart […]

BUSINESS

Crude Oil Prices Rise

Crude oil prices continue to climb, headed toward a five-month high as U.S. producers shut most output in the Gulf of Mexico ahead of Hurricane Laura even as rising coronavirus cases in Asia and Europe capped gains. Brent futures rose 83 cents, to $45.96 a barrel, while U.S. West Texas Intermediate crude rose 83 cents, to $43.45. Both benchmarks are […]

BUSINESS

COVID-19 Puts UK Economy In A Tailspin

U.K. economy, the sixth-largest in the world, is in a tailspin due to the COID-19 pandemic. U.K. Chancellor Rishi Sunak said the government is grappling with something new and unprecedented after figures showed the U.K. economy suffered its biggest slump on record. In the first half of 2020, GDP shrank by 22.6%, the deepest recession in U.K. history, and worse […]

BUSINESS

U.S. Hotel Takes A Beating

The hotel sector in the U.S. is taking a beating because of the COVID-19 pandemic. It has put most business activities on pause, and one of the hardest-hit sectors is tourism. The U.S. hotel industry said it faces a default disaster, in which 25% of hotels are at risk of foreclosure. The report, sent to the Congress this week and […]