15 February, 2015 by The TZ Newswire Staff Comments Off on Tesco set for thousands more job cuts
Tesco set for thousands more job cuts
The new boss of Tesco is set to slash thousands more jobs in a bid to turn around the fortunes of the U.K.’s largest supermarket chain.
15 February, 2015 by The TZ Newswire Staff Comments Off on Asian supply lines hit by U.S. West Coast ports dispute
Asian supply lines hit by U.S. West Coast ports dispute
SAN FRANCISCO/TOKYO (Reuters) – A labor dispute at ports on the U.S. West Coast is disrupting supply chains across the Pacific, forcing some Asian suppliers to resort to costly air freight and pushing up shipping rates as more freighters are caught up in long queues to dock. With ports near gridlock and cargo delays being felt throughout the U.S. economy, President Barack Obama on Saturday dispatched Labor Secretary Tom Perez to California to try to broker an agreement on a new contract between dockworkers and the group representing shippers and terminal operators.
15 February, 2015 by The TZ Newswire Staff Comments Off on Ukraine rebels disavow cease-fire at encircled town
Ukraine rebels disavow cease-fire at encircled town
Ukraine’s rebels disavowed a new truce hours after it took effect, saying it did not apply to the town where most fighting has taken place.
15 February, 2015 by The TZ Newswire Staff Comments Off on U.S. port strike pushes up freight rates with ships held up offshore
U.S. port strike pushes up freight rates with ships held up offshore
A U.S. West Coast port strike is pushing up shipping freight rates as delays in offloading and taking on new cargo mean container ships are unavailable for new orders. Dozens of container ships are lying in wait off the large U.S. West Coast ports of Los Angeles, San Francisco and San Diego. Many of them have been waiting more than a week to enter port to unload or take on new cargoes, according to Thomson Reuters shipping data. Ports along the West Coast are near gridlock due to the months-long dispute between dockworkers and a group representing shippers and terminal operators.
15 February, 2015 by The TZ Newswire Staff Comments Off on Hyundai Motor to enter commercial vehicle market in U.S., Europe
Hyundai Motor to enter commercial vehicle market in U.S., Europe
South Korean automaker Hyundai Motor said on Monday that it plans to enter the commercial vehicle market in the United States and Europe in expectation of stronger growth in the sector. Hyundai Motor also said it plans to invest 400 billion won ($363.13 million) in expanding annual production capacity at its commercial vehicle factory in the southwestern city of Jeonju by 54 percent to 100,000 vehicles by 2020, from the current 65,000. Hyundai also said it plans to invest 1.6 trillion won in research and development in commercial vehicles.
15 February, 2015 by The TZ Newswire Staff Comments Off on China nears complete end to all residency restrictions
China nears complete end to all residency restrictions
In a move that may mark the biggest change for the average Chinese citizen in a lifetime, the government is set to take a major step toward allowing people to take up residence anywhere in the country, ending decades of restriction.
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15 February, 2015 by The TZ Newswire Staff Comments Off on Thank the dollar for smaller dividends this year
Thank the dollar for smaller dividends this year
Global dividend payouts could be about to get worse, as the U.S. dollar rallies against the vast majority of the world’s currencies.