World + Economy

A "Now Hiring" sign is posted on a Verizon store in Manhattan in New York

U.S. union say Verizon to add 1,300 jobs, provide 10.9 percent pay hikes

Reuters - (Reuters) - Verizon Communications Inc has agreed to add 1,300 new jobs on the U.S. East Coast and provide 10.9 percent in pay raises over four years under a tentative deal between the company and u…

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  • A "Now Hiring" sign is posted on a Verizon store in Manhattan in New York
    U.S. union say Verizon to add 1,300 jobs, provide 10.9 percent pay hikes Reuters

    (Reuters) - Verizon Communications Inc has agreed to add 1,300 new jobs on the U.S. East Coast and provide 10.9 percent in pay raises over four years under a tentative deal between the company and unions, …

    A "Now Hiring" sign is posted on a Verizon store in Manhattan in New York

    (Reuters) - Verizon Communications Inc has agreed to add 1,300 new jobs on the U.S. East Coast and provide 10.9 percent in pay raises over four years under a tentative deal between the company and unions, the Communications Workers of America said on Monday. The telecommunications company and unions representing nearly …

  • Vancouver sees jobs boom, but young workers still can't afford housing The Canadian Press

    VANCOUVER - Kala Vilches always knew she'd have to leave Vancouver if she wanted to buy a house.

    Vancouver sees jobs boom, but young workers still can't afford housing

    VANCOUVER - Kala Vilches always knew she'd have to leave Vancouver if she wanted to buy a house.

  • Noble Group CEO quits unexpectedly, raising doubts over strategy Reuters

    By Anshuman Daga SINGAPORE (Reuters) - Noble Group's CEO Yusuf Alireza quit on Monday, a surprise move that comes just weeks after he secured crucial financing for Asia's biggest commodity trader and …

    Noble Groups Chief Executive Officer Yusuf Alireza speaks during news conference after meeting with investors in Singapore

    By Anshuman Daga SINGAPORE (Reuters) - Noble Group's CEO Yusuf Alireza quit on Monday, a surprise move that comes just weeks after he secured crucial financing for Asia's biggest commodity trader and raises questions about its future strategy. The embattled company named its president William Randall, and Jeff Frase, …

  • Lufthansa owed over $100 million in Venezuela - spokesman Reuters

    Venezuela owes Lufthansa over $100 million in ticket revenue, a spokesman said, after the German carrier said over the weekend it was suspending flights to Caracas next month. Like other airlines, Lufthansa …

    Planes of the Lufthansa airline stand on the tarmac in Frankfurt airport

    Venezuela owes Lufthansa over $100 million in ticket revenue, a spokesman said, after the German carrier said over the weekend it was suspending flights to Caracas next month. Like other airlines, Lufthansa has struggled to repatriate revenue held in the local bolivar currency due to exchange controls and had already reduced …

  • Boeing set to win $2.9 billion contract from UK MoD: the Telegraph Reuters

    (Reuters) - Boeing Co is set to win a 2-billion-pound ($2.92 billion) contract from the UK Ministry of Defence (MoD) for new Apache helicopters, the Telegraph reported. The MoD has decided to give Boeing …

    The logo of Dow Jones Industrial Average stock market index listed company Boeing (BA) is seen in Los Angeles

    (Reuters) - Boeing Co is set to win a 2-billion-pound ($2.92 billion) contract from the UK Ministry of Defence (MoD) for new Apache helicopters, the Telegraph reported. The MoD has decided to give Boeing a 50-aircraft contract, including servicing, and the announcement could come as early as July, the newspaper said. …

  • Indian minister: discussing Apple's request for FDI rules waiver Reuters

    By Manoj Kumar NEW DELHI (Reuters) - The Indian government on Monday said it was discussing Apple Inc's foreign direct investment application that seeks a waiver from a local sourcing rule. Nirmala Sitharaman, …

    A pedestrian walks past an Apple iPhone 6 advertisement at an electronics store in Mumbai, India

    By Manoj Kumar NEW DELHI (Reuters) - The Indian government on Monday said it was discussing Apple Inc's foreign direct investment application that seeks a waiver from a local sourcing rule. Nirmala Sitharaman, commerce and industry minister in the federal cabinet, told reporters her ministry would discuss the issue with …

  • Exclusive: Chinese, Japanese suitors eye $4 billion sale of CIT plane leasing unit - sources Reuters

    By Anshuman Daga and Denny Thomas SINGAPORE/HONG KONG (Reuters) - U.S. lender CIT Group Inc has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, …

    A teller at a branch of the Industrial and Commercial Bank of China (ICBC) works behind the counter in central Sydney, Australia

    By Anshuman Daga and Denny Thomas SINGAPORE/HONG KONG (Reuters) - U.S. lender CIT Group Inc has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, including China's HNA Group, Industrial and Commercial Bank of China's <601398.SS> ICBC Leasing, and Japan's Orix …

  • HSBC boosts oversight of safety boxes in Hong Kong Reuters

    HSBC has introduced stricter rules for the use of safety-deposit boxes in Hong Kong, which customers use to store valuables but which are at risk of being abused for money laundering and terrorism financing. …

    Man walks past a logo of HSBC outside a branch at the financial Central district in Hong Kong

    HSBC has introduced stricter rules for the use of safety-deposit boxes in Hong Kong, which customers use to store valuables but which are at risk of being abused for money laundering and terrorism financing. Safety boxes offer clients who lease them the possibility to store items such a jewels, art or any other valuable …

  • Fed's Bullard says global markets seem well-prepared for summer rate hike Reuters

    By Christine Kim and Se Young Lee SEOUL (Reuters) - St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be "well-prepared" for a summer interest rate hike from the …

    St. Louis Fed President James Bullard speaks at a public lecture on "Slow Normalization or No Normalization" in Singapore

    By Christine Kim and Se Young Lee SEOUL (Reuters) - St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be "well-prepared" for a summer interest rate hike from the Fed, although he did not specify a date for the policy move. "My sense is that markets are well-prepared for a possible …

  • New credit card scrutiny sends Indonesians back to cash Reuters

    By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) - Indonesia's plan to track all credit card transactions in a bid to crack down on rampant tax evasion is pushing people back to cash, stifling …

    A general view shows the headquarters of Indonesia's tax office in Jakarta

    By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) - Indonesia's plan to track all credit card transactions in a bid to crack down on rampant tax evasion is pushing people back to cash, stifling government efforts to track illicit money flows. A new government decree requiring credit card providers to submit transaction …

  • ConAgra Foods stock seen rising 30 percent: Barron's Reuters

    ConAgra Foods' stock could climb up to 30 percent in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron's said in …

    ConAgra Foods production facility is seen in Oakdale

    ConAgra Foods' stock could climb up to 30 percent in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron's said in its latest online edition. After ConAgra sold its Spicetec Flavors & Seasonings for about $340 million to Givaudan last …

  • Bourbon maker Brown-Forman shares seen expensive Reuters

    Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest …

    A Whiskey tasting station is seen at the Jack Daniel's distillery in Lynchburg, Tennessee

    Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest online edition. Brown-Forman's stock had delivered annual gain of 12.5 percent in the past decade including dividend, …

  • Students seeking sugar daddies for tuition, rent The Canadian Press

    Candice Kashani graduated from law school debt-free this spring, thanks to a modern twist on an age-old arrangement.

    Students seeking sugar daddies for tuition, rent

    Candice Kashani graduated from law school debt-free this spring, thanks to a modern twist on an age-old arrangement.

  • Japan's Abe to delay sales tax hike until 2019: government source Reuters

    By Takaya Yamaguchi TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe plans to delay an increase in sales tax by two and a half years, a government official said on Sunday, as the economy sputters …

    Japanese Prime Minister Shinzo Abe speaks at a news conference during the G7 Ise-Shima Summit in Shima

    By Takaya Yamaguchi TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe plans to delay an increase in sales tax by two and a half years, a government official said on Sunday, as the economy sputters and Abe prepares for a national election. Abe told Finance Minister Taro Aso and the secretary general of his ruling Liberal …

  • Fed reaction to data barrage is focus for stocks Reuters

    By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed policymakers …

    A street sign is seen in front of the New York Stock Exchange on Wall Street in New York

    By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed policymakers will be looking at those numbers as they decide whether to raise key interest rates as soon as June, traders …

  • Sumner Redstone suggests he could oust Viacom board, CEO Reuters

    Sumner Redstone made clear on Friday that he is considering ousting Viacom's chief executive and the company's board of directors in the fierce power struggle between Redstone's family and company executives …

    Sumner Redstone arrives at premiere of The Guilt Trip in Los Angeles

    Sumner Redstone made clear on Friday that he is considering ousting Viacom's chief executive and the company's board of directors in the fierce power struggle between Redstone's family and company executives over control of the media empire. A judge set an early June hearing on the possible removal of CEO Philippe Dauman …

  • Oil slips for second day as $50 level sparks new output fears Reuters

    Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 (£34) …

    A gas station attendant pumps fuel into a customer's car at PetroChina's petrol station in Beijing

    Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 (£34) a barrel. The dollar spiked after Federal Reserve Chair Janet Yellen said a U.S. rate hike was probably appropriate in …

  • Verizon strike seen lowering U.S. May payrolls by 35,000 jobs Reuters

    The department's monthly strike report showed 35,100 Verizon employees were idle during the survey period for the May payrolls count. Striking workers who do not receive a paycheck during the period are …

    People demonstrate outside a Verizon wireless store during a strike in New York, U.S., April 18, 2016

    The department's monthly strike report showed 35,100 Verizon employees were idle during the survey period for the May payrolls count. Striking workers who do not receive a paycheck during the period are considered unemployed. Labor Secretary Thomas Perez said on Friday that Verizon and unions representing the striking …

  • Monsanto boss could net $70 million from a Bayer takeover Reuters

    By Pamela Barbaglia, Tom Bergin and Anjuli Davies LONDON (Reuters) - Monsanto boss Hugh Grant could land more than $70 million if the world's largest seed company is taken over by German chemicals giant …

    Hugh Grant, Chairman and CEO of Monsanto, participates in a panel discussion at the 2015 Fortune Global Forum in San Francisco

    By Pamela Barbaglia, Tom Bergin and Anjuli Davies LONDON (Reuters) - Monsanto boss Hugh Grant could land more than $70 million if the world's largest seed company is taken over by German chemicals giant Bayer AG . The U.S. firm said it was open to engaging in further negotiations with Bayer after turning down its $62 …

  • Trudeau says he's optimistic about G7 leaders' vows on ransoms, economy The Canadian Press

    SHIMA, Japan - Justin Trudeau says he's encouraged by the pledges made Friday by his fellow Group of Seven leaders in Japan, on both their renewed vow to stop paying ransoms for hostages and their …

    Trudeau says he's optimistic about G7 leaders' vows on ransoms, economy

    SHIMA, Japan - Justin Trudeau says he's encouraged by the pledges made Friday by his fellow Group of Seven leaders in Japan, on both their renewed vow to stop paying ransoms for hostages and their approach ...