BUFFALO, N.Y. – Starbucks workers have voted to unionize at a store in Buffalo, New York over the company’s objections, pointing the way to a new labor model for the 50-year old coffee giant. The National Labor Relations Board said Thursday that workers voted 19-8 in favor of a union at one of […]
Tag Archives: business
WASHINGTON — The Senate narrowly approved a resolution Wednesday to nullify the Biden administration’s requirement that businesses with 100 or more workers have their employees be vaccinated against the coronavirus or submit to weekly testing. The vote was 52-48. The Democratic-led House is unlikely to take the measure up, which means the mandate would stand, […]
HONG KONG / LONDON – Ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group on Thursday, saying they had defaulted on offshore bonds, while a source said Kaisa had started work on restructuring its US$12 billion offshore debt. The downgrades to so-called “restricted default” status come even though Evergrande and […]
The average family of four in Canada can expect to spend $966 more on food in 2022 than they did in 2021. That’s according to a new report published on Thursday by researchers with Dalhousie University, the University of Guelph, the University of Saskatchewan and the University of British Columbia. The 12th […]
BEIJING – Asian stock markets were mixed Thursday as investors waited for U.S. inflation data that might influence the Federal Reserve’s decision on when to roll back economic stimulus. Shanghai, Hong Kong and Seoul advanced. Tokyo and Sydney declined. Wall Street rose for a third day Wednesday as anxiety about the coronavirus’s […]
CALGARY – Premier Jason Kenney used his first address to the Calgary Chamber of Commerce since the start of the pandemic to tout the recovery of Alberta’s economy amid high energy prices. Saying that ‘Alberta is back’, he noted that in the first quarter next year the provincial GDP is expected to finally […]
Mostafa Salem and Walé Azeez – The United Arab Emirates and its international finance hub Dubai are switching to a four-and-a-half-day work week ending at midday Friday to make it easier to do business globally. The move away from the current Sunday to Thursday schedule — the first by a Gulf state — […]
A major outage in Amazon’s cloud computing network Tuesday severely disrupted services at a wide range of U.S. companies for more than five hours, the latest sign of just how concentrated the business of keeping the internet running has become. The incident at Amazon Web Services mostly affected the eastern U.S., but still […]
OTTAWA – The Bank of Canada is set today to announce what will happen to its trendsetting interest rate with job and inflation figures on the rise. The central bank’s key interest rate target has been at the rock-bottom level of 0.25 per cent since the onset of the pandemic in March 2020 […]
BANGKOK – Stocks advanced Wednesday in Asia after another broad rally on Wall Street as investors wagered that the new variant of the COVID-19 virus won’t pose a big threat to the economy. Shares rose in Tokyo, Shanghai and Seoul, while Hong Kong declined. Oil prices fell back. Japan downgraded its growth […]