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9481 - 9490 from 16514 . In "BUSINESS"
A steel worker returns to work after a two year idle at US Steel Granite City Works in Granite City, Illinois, US, in this file photo. — Reuters
Automaker groups warn US tariffs will undermine new NAFTA deal
WASHINGTON — US automakers and parts suppliers on Thursday warned that President Donald Trump's steel and aluminum tariffs and threatened car tariffs would undermine the benefits of the new deal to modernize the North American Free Trade Agreement, causing widespread job losses. At a wide-ranging hearing before the US International Trade Commission, labor representatives said the new US-Mexico-Canada Agreement (USMCA) fails to include adequate enforcement of labor standards, while Southeastern US fruit and vegetable growers said it leaves them vulnerable to subsidized Mexican competition. The testimony will feed into a study by the commission on the economic impact of the trade deal reached on Sept. 30, which could heavily influence support for it in the US Congress. A vote on the...
November 16, 2018

Automaker groups warn US tariffs will undermine new NAFTA deal

JetBlue Airways aircraft pictured at departure gates at John F Kennedy International Airport in New York in this file photo. — Reuters
JetBlue wants US, European regulators to review joint ventures
NEW YORK — The chief executive of JetBlue Airways Corp, which has made no secret of its desire to expand into transatlantic service, said on Thursday that US and European regulators should review joint ventures that have allowed big airlines to dominate the market. JetBlue CEO Robin Hayes, speaking at an airline industry event in New York, said consumers were at risk of decades of high fares because of legacy transAtlantic partnerships. JetBlue, the sixth largest US airline, wants to service Europe from its main hubs in New York, Boston and Fort Lauderdale, Florida, but is concerned about challenges posed by the big three US legacy airlines' control of important foreign markets through their global alliances. American Airlines Group Inc, Delta Air Lines Inc and United Airlines are...
November 16, 2018

JetBlue wants US, European regulators to review joint ventures

The Elevation Resources drilling rig is shown at the Permian Basin drilling site in Andrews County, Texas, US in this file photo. — Reuters
US shale surge boosts industry finances, puts deals in spotlight
NEW YORK — If OPEC thought the 26 percent drop in oil prices since October might rein in US shale production like the last sharp drop did four years ago, it might have to think again. US shale firms are more profitable than ever after a strong third quarter, according to a Reuters analysis of results for 32 independent producers. These companies are producing more efficiently, generating more cash flow and consolidating in a wave of mergers, the data show. Results at 32 independent shale explorers show nearly a third generated more cash from operations than they spent on drilling and shareholder payouts, a group including Devon Energy, EOG Resources and Continental Resources . A year ago, there were just three companies on that list. The group's cash flow deficit has narrowed to...
November 16, 2018

US shale surge boosts industry finances, puts deals in spotlight

Britain's Prince Harry and his wife Meghan, Duchess of Sussex, arrive at Dubbo airport, Dubbo, Australia, in this file photo. — Reuters
'Perfect time' for ethical businesses to drive social change
LONDON —Ethically driven businesses are becoming increasingly popular and profitable but they can face threats for shaking up the existing order, entrepreneurs said on Social Enterprise Day. When Meghan Markle wore a pair of "slave-free" jeans on a royal tour of Australia last month, she sparked a sales stampede and shone a spotlight on the growing number of companies aiming to meet public demand for ethical products. "Right now is the perfect time to have this kind of business," said James Bartle, founder of Australia-based Outland Denim — which made the $200 (150 pound) jeans. "There is awareness and people are prepared to spend on these kinds of products." Social Enterprise Day — which celebrates firms seeking to make profit while doing good — is...
November 16, 2018

'Perfect time' for ethical businesses to drive social change

China's President Xi Jinping walks past officials after arriving at Port Moresby International Airport on Thursday, ahead of Asia-Pacific Economic Cooperation (APEC) Summit. — AFP
China sends written response to US trade reform demands
WASHINGTON — China has delivered a written response to US demands for wide-ranging trade reforms, three US government sources said on Wednesday, a move that could trigger more formal negotiations to resolve a withering trade war between the world's top economies. US President Donald Trump has imposed tariffs on $250 billion of Chinese imports to force concessions from Beijing on the list of demands that would change the terms of trade between the two countries. China has responded with import tariffs on US goods. Trump is expected to meet Chinese President Xi Jinping on the sidelines of a G20 summit in Argentina at the end of November and in early December. The US president has repeatedly railed against Beijing over intellectual property theft, industrial subsidies, Chinese entry...
November 15, 2018

China sends written response to US trade reform demands

Singapore Airlines planes are pictured on the tarmac at Changi Airport in this file photo. — Reuters
Singapore Airlines finds premium economy a tougher sell on new non-stop US flights
SINGAPORE — Singapore Airlines Ltd is facing no problem selling business-class tickets on its ultra-long non-stop flights to the United States but is having to price premium economy seats very attractively, a senior executive said on Wednesday. The carrier last month resumed after five years the world's longest commercial flight, an almost 19-hour non-stop journey from Singapore to New York. The airline ordered seven new ultra-long-range twin-engine Airbus SE A350-900ULRs fitted with just 67 business class and 94 premium economy seats for those flights and for non-stop services to Los Angeles and San Francisco. These flights have no economy class seats. It represents a major expansion in the US market for Singapore Airlines and a test of whether the carrier can charge the 20...
November 15, 2018

Singapore Airlines finds premium economy a tougher sell on new non-stop US flights

Apple to employ trafficking survivors in efforts to eradicate slave labor
LONDON — Apple will employ trafficking survivors to work in its retails stores, the technology giant said, after winning an international award for making details of its supply chains public in a bid to help end modern slavery. Since 2012 Apple says it has reduced the number of underage workers in its extended supply chain, which includes locations where rare earth minerals are mined for use in smartphones. Labor rights groups had previously criticized Apple and its biggest manufacturing partner Foxconn for excessive overtime, hiring underage workers and failing to provide health insurance. "As a company whose work touches the lives of so many people, we feel we have an enormous responsibility ... to turn our values into action," Angela Ahrendts, head of retail at Apple,...
November 15, 2018

Apple to employ trafficking survivors in efforts to eradicate slave labor

CEO Alain Dehaze of Swiss Adecco Group is seen during an interview with Reuters in Zurich, Switzerland. — Reuters
Adecco chief calls for life-long learning to dodge jobs 'time bomb'
ZURICH — Companies should set up portable accounts to pay for life-long learning to help workers upgrade their skills and remain employable as robots take over more jobs, Adecco Group Chief Executive Alain Dehaze said. As increasing automation eliminates many roles, government and the private sector should work together to fill skills gaps, while workers must become more flexible, the head of the world's largest staffing services company told Reuters in an interview. "If they don't quickly reform their education system, countries will create a time bomb," said Dehaze. "They won't have the correct talent any more and companies will move away." The 55-year-old Belgian who has led Switzerland-based Adecco Group since 2015 said its customers - employers who...
November 15, 2018

Adecco chief calls for life-long learning to dodge jobs 'time bomb'

An Emirates Airbus A380-800 aircraft takes off from Manchester Airport in Britain, in this file photo. — Reuters
Emirates Airline half-year profit slides 86% on oil hike
DUBAI — Emirates Airline on Thursday posted an 86 percent drop in half-year profits as the Middle East's leading carrier was hit by a hike in oil prices and currency devaluations. The Dubai-based airline in a statement its net profit in the six months to September 30 was also impacted by other challenges and expected tough months ahead. Emirates said it recorded a profit of just $62 million in the first half of the 2018-2019 fiscal year compared with $452 million in the same period last year. "The high fuel cost as well as currency devaluations in markets like India, Brazil, Angola and Iran, wiped approximately 4.6 billion dirhams ($1.25 billion) from our profits," said Sheikh Ahmed bin Saeed Al-Maktoum, chairman and chief executive of Emirates Group. Emirates, one of...
November 15, 2018

Emirates Airline half-year profit slides 86% on oil hike

Switzerland's national flag flies under the logo of Swiss bank UBS in Zurich, Switzerland, in this file photo. — Reuters
Swiss probe banks possible collusion vs Apple, Samsung
ZURICH — Switzerland said Thursday it had opened a probe into whether major financial institutions including UBS and Credit Suisse boycotted mobile payment services offered by Apple and Samsung in favor of a domestic provider. The Swiss competition commission (COMCO) said it was investigating whether five firms colluded to boost national mobile payment system TWINT above international competitors. "There is suspicion that these institutions worked in concert to block their credit cards from working with Apple Pay and Samsung Pay in order to benefit... TWINT," COMCO said in a statement. Credit Suisse rejected the allegations. "We are surprised about this investigation and are convinced that the allegations will prove to be unfounded," the company said in a...
November 15, 2018

Swiss probe banks possible collusion vs Apple, Samsung

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