Business

China and the U.S. seek to improve trade relations at Davos

China and the U.S. seek to improve trade relations at Davos

China’s President Xi Jinping delivers a surprise speech at the World Economic Forum In a rare appearance at the annual meeting of the World Economic Forum in Davos, Switzerland, China’s President Xi Jinping delivered a speech that signaled a willingness to engage with the U.S. on trade issues. Xi said that China and the U.S. have both realized that they need to have trade and that they should respect each other’s core interests and major concerns. He also said that China is ready to work with the international community to uphold the multilateral trading system and promote global economic recovery. Xi’s speech…
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Rent prices soar across the country as landlords cash in on housing crisis

Rent prices soar across the country as landlords cash in on housing crisis

The National, November 29, 2023 Renters across the country are feeling the pinch as landlords hike up prices amid a housing crisis that has left many people struggling to find affordable and decent accommodation. According to the latest data from Rent.com, the national median rent price for a two-bedroom apartment increased by 13.7% year-over-year in October, reaching $1,978. This is the highest annual increase since the company started tracking rent prices in 2012. Demand outstrips supply in major cities One of the main factors driving up rent prices is the imbalance between demand and supply in major urban areas, where many…
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Virgin Media faces record fine for roadworks disruption in Scotland

Virgin Media faces record fine for roadworks disruption in Scotland

Virgin Media, one of the UK’s largest broadband and TV providers, has been fined £80,000 for causing significant disruption and inconvenience to road users and residents in Scotland. The company breached the rules and regulations for carrying out roadworks on several occasions between 2019 and 2021, resulting in the highest penalty ever imposed by Transport Scotland. Repeated failures to comply with roadworks legislation According to Transport Scotland, the agency responsible for overseeing the Scottish road network, Virgin Media failed to comply with the roadworks legislation on 11 occasions in Edinburgh, Glasgow, Renfrewshire and West Dunbartonshire. Some of the breaches included:…
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Vista Equity Partners CEO on U.S.-China trade, tech layoffs, and diversity

Vista Equity Partners CEO on U.S.-China trade, tech layoffs, and diversity

How Davos 2023 brought optimism for global collaboration The World Economic Forum in Davos, Switzerland, was a rare opportunity for global leaders and business executives to meet in person and discuss the most pressing issues of the day. Among the attendees was Robert Smith, the founder and CEO of Vista Equity Partners, a private equity firm that specializes in software and technology investments. Smith shared his key takeaways from the annual meeting with Yahoo Finance’s Julie Hyman. Smith said that people were excited to get back to work, come up with solutions, and share best practices. He also highlighted one…
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M&S apologises for Christmas ad outtake that sparked outrage

M&S apologises for Christmas ad outtake that sparked outrage

Accusations of disrespecting Palestinian flag Marks & Spencer, a leading British retailer, has faced backlash from some social media users who accused the company of disrespecting the Palestinian flag in an outtake from its Christmas advert. The image, which was posted on the brand’s official Instagram account, showed red, green, and silver paper hats thrown into a fire, with a caption that suggested some people do not like wearing them during the festive season. However, some people saw a resemblance between the paper hats and the colours of the Palestinian flag, which has become a symbol of resistance and solidarity…
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BP’s profit plunges as wind farms hit by inflation and delays

BP’s profit plunges as wind farms hit by inflation and delays

BP reported a sharp drop in its third-quarter profit as it faced higher costs and lower production in its gas and low carbon energy division. The company also took a hefty charge on three wind farms off the coast of New York that have been affected by inflation and delays. BP misses expectations and lowers guidance BP said that its underlying replacement cost profit – its preferred measure – was 3.3 billion dollars (£2.7bn) in the third quarter, down from 8.2 billion dollars (£6.8bn) a year earlier. It had been expected to make around four billion dollars (£3.3bn). It is…
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Cost of living crisis shuts down popular Glasgow cafe

Cost of living crisis shuts down popular Glasgow cafe

Rose & Grants closes after 13 years of serving vegan food The cost of living crisis has claimed another victim in Glasgow, as a beloved cafe has announced its closure. Rose & Grants, which was known for its vegan menu and friendly atmosphere, operated on Trongate in the city centre for 13 years before shutting its doors last Friday. The cafe’s owner, Ben Rose, said that the rising costs of energy, food, and wages made it impossible to continue running the business. He also cited the impact of lockdown restrictions and his own mental health as reasons for his decision.…
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Amazon announces pay rise for UK staff

Amazon announces pay rise for UK staff

Online giant boosts minimum starting pay to between £11.80 and £12.50 an hour Amazon has announced a pay rise for its UK staff, effective from October 15. The online giant said the increase will apply to all full-time, part-time, temporary and seasonal roles, as well as over 15,000 seasonal employees who will be hired for the festive season. The minimum starting pay will increase to between £11.80 and £12.50 an hour, depending on location, and will rise further next April to between £12.30 and £13 an hour. Amazon invests £170m in pay and claims to offer competitive wages and benefits…
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What is frustration-free packaging on Amazon?

What is frustration-free packaging on Amazon?

When it comes to online shopping, we all look for convenience, speed, and reliability. It may come as no surprise then that customers rate packaging as an important aspect of their overall shopping experience. Amazon has made notable strides in this regard, with their introduction of "Frustration-Free Packaging". In this blog, we'll explore what frustration-free packaging is, why Amazon introduced it, how it differs from traditional packaging, and the benefits of using this type of packaging. What is Frustration-Free Packaging? Frustration-Free Packaging, or FFP in short, is a type of packaging introduced by Amazon in 2008. This packaging is specifically…
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Deciphering the Economics of the Lego Cafe Corner: Why is it so Expensive?

Deciphering the Economics of the Lego Cafe Corner: Why is it so Expensive?

Why is lego cafe corner so expensive?: If you were born in the early 2000s or before, you’ll most probably be familiar with the name “Lego Cafe Corner”. It was a highly sought-after product by Lego enthusiasts – an old world-style coffee shop, complete with mini-figures, furniture, and intricate details. Alas, this product is no longer in production! But, its legacy lives on in the hearts of the collectors. However, these collectors noticed something odd – the Lego Cafe Corner has become expensive, so expensive that a new set cost a whopping $1700 in the second-hand market! This blog post…
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