Persistent and severe drought conditions across Western Canada could have a devastating effect on the oil and natural gas sector, which has drilling operations in some of the driest areas, according to a new report by Deloitte. Water shortages could have devastating effect on oil and gas sector, says new …
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WeWork out of bankruptcy end-May
NEW YORK CITY: Embattled co-working space provider WeWork said it expects to emerge from bankruptcy by the end of May, touting lease-restructuring efforts that it estimates will bring $8 billion in future rental savings. COMEBACK The WeWork logo is seen at the company’s New York office on Jan. 16, 2020. …
Read More »WestJet Encore pilots vote for strike mandate, adding to airline’s turbulence
WestJet Encore pilots could go on strike as soon as April 17 after they approved a strike mandate Tuesday after aviators at the company’s regional carrier voted 97 per cent in favour of strike authorization, the Air Line Pilots Association said. Strike could begin as soon as April 17. WestJet …
Read More »Japan next-generation chip venture gets $3.9B
TOKYO: Japan announced up to $3.9 billion in fresh subsidies on Tuesday for next-generation semiconductor venture Rapidus, as it seeks to become a big player in the chip sector again. Motivated by geopolitical concerns surrounding Taiwan, Japan is vying with the United States and Europe to attract chipmakers with massive …
Read More »United Airlines pilots asked to take time off
UNITED Airlines is asking its pilots to take time off in May because of delays in receiving new planes that the airline ordered from Boeing, which is struggling with production due to manufacturing problems. A United spokesman said on Monday that the offer is voluntary. TIME OFF Two United Airlines …
Read More »Asian economies face headwinds in 2024
BANGKOK: Asian economies are not doing as well as they could, and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, the World Bank said in a report released on Monday. Debt, trade barriers and policy uncertainties are dulling the region’s …
Read More »Some consumers, businesses are feeling more optimistic about the economy, say BoC surveys
The Bank of Canada says business and consumer sentiment improved during the first quarter of the year, despite higher interest rates still putting a drag on the economy. Central bank’s surveys showed outlook is improving amid expectation of rate cuts. The Bank of Canada says business and consumer sentiment …
Read More »Japanese manufacturers optimistic
TOKYO: A key Japanese central bank report said on Monday that sentiment among big manufacturers has sagged, but that optimism is at a three-decade high among large business outside the manufacturing sector. The Bank of Japan’s “tankan” report said sentiment among large manufacturers, which include auto and electronics giants, declined …
Read More »Group of Tim Hortons franchisees in Quebec sue brand owner for $18.9M
A group of Quebec Tim Hortons franchisees is taking the brand’s owner to court over lower-than-expected profits they claim are due to constraints in licensing agreements. Constraints in licensing agreements to blame for lower-than-expected profits, group alleges. Several Quebec Tim Hortons franchisees are taking the brand’s owner to court, blaming …
Read More »Modest growth for PH manufacturing PMI in March
(File photo) MANILA – The country’s manufacturing purchasing managers’ index (PMI) recorded a modest growth in March this year at 50.9. March’s PMI was slightly lower than February’s 51 but a PMI above 50 is still considered growth. The manufacturing PMI gauges the health of the local sector, with scores above …
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