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Author's articles
Workers 'disappointed' as Volkswagen remains vague on turnaround plan
Unions on Wednesday criticised Volkswagen for failing to make specific proposals in the first round of talks over the German auto giant's drastic cost-cutting plan, as thousands of workers picketed the meeting. But workers representatives said Volkswagen had failed to put any proposals on the table.
US new home sales slow slightly in August
Sales of new homes in the United States cooled less than expected in August, according to government data released Wednesday, with lower interest rates potentially boosting the market going forward. This could, in turn, boost the market for home sales further.
Google files EU complaint over Microsoft cloud services
Google said Wednesday that it had filed a complaint against Microsoft at the European Commission, accusing its rival of "anticompetitive" licensing practices to force customers to use its cloud service. The complaint was filed on Tuesday.
Unions vow 'bitter resistance' as Volkswagen talks begin
Volkswagen bosses and workers' representatives started crunch talks Wednesday about the ailing German auto titan's drastic cost-cutting plans, with thousands of staff staging a protest and unions vowing "bitter resistance". "Anyone who sows fear and gambles with the future of our colleagues will reap bitter resistance," vowed Groeger.
OECD calls for higher property taxes to fight debt
The OECD slightly raised its world economic growth forecast for 2024 on Wednesday but called for higher property and environmental taxes to combat soaring debt in many countries. "On the revenue side, efforts to eliminate distortive tax expenditures and enhance revenues from indirect, environmental and property taxes are called for in many countries," the organisation said.
Britain's Rightmove rejects higher £6.1-bn Murdoch bid
British property website Rightmove said Wednesday it had rejected a third "unsolicited" proposal, worth £6.1 billion (US$8.2 billion), from REA Group, the Australian peer majority-owned by Rupert Murdoch's News Corp empire. The first takeover proposal was priced at £5.6 billion.
Cuts, cash, credit: China's latest bid to jumpstart flagging economy
China this week unveiled a bundle of new measures aimed at kickstarting its economy, which has been battered in recent years by unprecedented headwinds including a property sector crisis and sluggish spending. The raft of measures, including the cuts, are considered the boldest in years as Beijing aims to revive economic activity.
Leftist Sri Lanka leader stuck with painful IMF deal: analysts
Sri Lanka's new leftist leader has little room to renegotiate an IMF bailout that threw a lifeline to his bankrupt country but imposed punishing and unpopular austerity measures, analysts say. - 'Best interest of the country' - Dissanayake's predecessor, Ranil Wickremesinghe, was voted out of office after doubling income taxes and imposing other reviled austerity measures.
Cryptocurrency platform boss urges tighter regulation
Cryptocurrency platform boss urges tighter regulation
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