Economy

Economy Latest News

Boeing, union reach preliminary deal to avert Seattle-area strike
Boeing, union reach preliminary deal to avert Seattle-area strike
by  AFP

Boeing has agreed on a preliminary new contract with union leaders that includes a hefty wage hike that would avert a strike in the Seattle region, the two sides announced Sunday. If workers ratify the contract, Boeing would follow in the steps of the United Parcel Service, which narrowly averted a strike in July 2023 after reaching agreement with the Teamsters union.

Greece to hike fee for cruise passengers to Mykonos and Santorini
Greece to hike fee for cruise passengers to Mykonos and Santorini
by  AFP

Greek Prime Minister Kyriakos Mitsotakis on Sunday announced that a fee of 20 euros will be imposed on cruise passengers visiting the popular islands of Mykonos and Santorini. "The cruise industry has put a strain on Santorini and Mykonos, so the fee will be 20 euros," he added.

Women ride Pakistan's economic crisis into the workplace
Women ride Pakistan's economic crisis into the workplace
by  AFP

Amina Sohail veers through heavy traffic to pick up her next passenger –- the sight of a woman riding a motorcycle drawing stares in Pakistan's megacity of Karachi. "I don't focus on people, I don't speak to anyone or respond to the hooting, I do my work," said Sohail, who joined a local ride-hailing service at the start of the year, transporting women through the dusty back streets of the city.

The Body Shop rescued from administration after deal
The Body Shop rescued from administration after deal
by  AFP

Growth capital firm Aurea on Saturday announced the completion of its acquisition of UK-based cosmetics group The Body Shop, renowned for ethical hair and skin products. Soon after, The Body Shop announced it would shutter almost half of its 198 stores in Britain.

How a taxi driver in El Salvador got rich with Bitcoin
How a taxi driver in El Salvador got rich with Bitcoin
by  AFP

Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. Osorio credited the US founder of the NGO My First Bitcoin, John Dennehy, with encouraging him to accept payment in the cryptocurrency.

US warns of growing risks of business in Hong Kong
US warns of growing risks of business in Hong Kong
by  AFP

The United States on Friday warned businesses of growing risks operating in Hong Kong, saying that routine activities could run afoul of the financial hub's new national security regulations. The United States has repeatedly warned that Beijing-led security regulations are putting at risk the openness that allowed Hong Kong to flourish as a trading hub.

New York Fashion Week opens with call to vote from Jill Biden
New York Fashion Week opens with call to vote from Jill Biden
by  AFP

US First Lady Jill Biden called for the protection of "freedoms" Friday during a "get out the vote" march that opened New York Fashion Week. Prior to the march, Jill Biden attended the Ralph Lauren fashion show on Thursday evening and paid tribute to Anna Wintour, the editor-in-chief of Vogue magazine and high priestess of the US fashion industry.