International Business News

International Business News (8)

Twitter has confirmed that two of its bosses are leaving the social media company in one of the biggest shake-ups since Elon Musk agreed to buy the firm.

The executives had been leading Twitter’s consumer and revenue operations.

From this week, the firm has also paused most hiring, except for “business critical roles”.

The move comes as the multi-billionaire Tesla boss moves ahead with a $44bn (£36bn) takeover of the platform.

“We are pulling back on non-labour costs to ensure we are being responsible and efficient,” a Twitter spokesperson told the BBC.

Kayvon Beykpour, who led Twitter’s consumer division, and Bruce Falck, who oversaw revenue, both tweeted on Thursday that the departures were not their decisions.

Mr Beykpour said that he is currently on paternity leave and was disappointed after being asked to leave by Mr Parag, who “wants to take the team in a different direction”.

Mr Falck tweeted: “I’ll clarify that I too was fired by (Parag).” But he appeared to delete the tweet later. His Twitter bio now says “unemployed”.

Jay Sullivan, who was leading the consumer unit during Mr Beykpour’s leave, will become permanent head of the division. He will also oversee the revenue team until a new leader is appointed.

This week, Mr Musk said he would reverse former US President Donald Trump’s ban from Twitter if his takeover bid was successful.

Appearing at an event on Tuesday he said: “I would reverse the permanent ban but I don’t own Twitter yet so this is not a thing that will definitely happen.”

On Thursday, he tweeted: “Even though I think a less divisive candidate would be better in 2024, I still think Trump should be restored to Twitter.”

Mr Trump has said that he does not want to return to Twitter, but instead aims to build up his own Truth Social platform.

Source: BBC


Manchester City manager, Pep Guardiola has called for the reduction of teams in the Premier League and English Football League to improve the quality of competition.

His remarks come amid plans to have 20 clubs in the Premier League split into two groups of 10 and playing between 18 and 23 European matches a season.

But Guardiola declined to be drawn into a discussion about it and said it was important to strengthen domestic leagues. He said:

I have the feeling that we cannot lose what local leagues mean – what it means to play the FA Cup … what it means to play in the leagues.

What we should do is make every league in Europe stronger than what it is, less teams, better championships, better League One, better League Two, better Premier League with less teams in every competition. Go to quality over quantity.
You have to make a super Premier League … for that you have to reduce teams. But we can’t kill lower divisions or the Premier League.

That’s something that is so important. It’s not about other benefits, it’s about how important sentimentally it is having your own league for every country.

Clubs have often complained about player fatigue especially following the resumption of football which had been suspended due to the outbreak of the coronavirus.

Source: Reuters《》RT

The European Commission has charged Amazon with abusing its dominant position in online retail to gain an unfair advantage over competitors.

It said Amazon had used data on third-party sellers that use its marketplace to boost sales of its own-label goods.

The Commission also launched a fresh probe into the possible preferential treatment of sellers that use the tech giant's logistics services.

Amazon rejected the charges, saying no firm "cared more" for small businesses.

It faces a potential fine as high as 10% of its global turnover if it is found guilty of breaching competition law - about £15bn ($19bn).

In a statement, the EU's Competition Commissioner Margrethe Vestager said it was vital that platforms with "market power" did not "distort competition".

"Data on the activity of third party sellers should not be used to the benefit of Amazon when it acts as a competitor to these sellers," she added.

"With e-commerce booming, and Amazon being the leading e-commerce platform, a fair and undistorted access to consumers online is important for all sellers."

The European Commission has been investigating Amazon since July last year, following complaints from traders.

It says the tech giant accesses sensitive data from small and medium-sized companies that use its platform, such as sales figures, page visits or shipping information.

It then uses this to help with sales of its own-label products, or in choosing suppliers, the Commission says.

In a press conference on Tuesday, Ms Vestager said: "We do not take issue with the success of Amazon or its size."
In a statement Amazon insisted that - far from being anti-competitive - its private-label products were good for customers and offered more choice.

"Amazon represents less than 1% of the global retail market, and there are larger retailers in every country in which we operate," it said.

"No company cares more about small businesses or has done more to support them over the past two decades than Amazon."

It also pointed out that there are more than 150,000 European businesses selling through its online marketplace.

The charges come as the coronavirus crisis has driven huge sales for the retailer, as people increasingly turn to online shopping.

In August, boss Jeff Bezos became the richest man in the world with a fortune of more than $200bn after the firm's share price rocketed in the early months of the pandemic.

Source: BBC《》RT

Facebook has threatened to stop users from sharing news content in Australia as it prepares for a new law forcing it to pay publishers for their articles.

Regulators want tech giants like Facebook and Google to pay for the content reposted from news outlets.

Last month Google warned its users that its search services could be “dramatically worse” as a result.

Facebook’s latest move to block news sharing has escalated tensions between tech firms and regulators.

The social media network said that if the proposed legislation becomes law it will stop Australians from sharing news on Facebook and its subsidiary Instagram.

The Australian Competition and Consumer Commission (ACCC) has drawn up the rules to “level the playing field” between the tech giants and publishers that it says are struggling due to lost advertising revenue.

The ACCC responded to Facebook’s threat to block news content saying it was “ill-timed and misconceived”.

“The code simply aims to bring fairness and transparency to Facebook and Google’s relationships with Australian news media businesses,” ACCC chairman Rod Sims said.

Source: BBC《》RT

British Airways is retiring all 28 of its Boeing 747s in the coming months, according to an internal companywide email. BA writes that this proposition is “subject to consultation.”

All of the carrier’s 28 jumbo jets are currently parked, according to fleet-tracking site Planespotters.

Originally, the plan was to retire all 747s in 2024. Now, that’s being accelerated to “over the coming months.”

BA blames the expected years-long recovery in demand as one of the primary reasons for the early, and abrupt, retirement. Additionally, the carrier cites the fact that these four-engine jets aren’t as fuel-efficient as their modern counterparts. Plus, with an average age of 20 plus years, these jets have required more-frequent maintenance than some of BA’s newer planes.

Nonetheless, this is a sad development for aviation enthusiasts. For many, the Boeing 747 is synonymous with British Airways. The carrier took delivery of its first double-decker in 1989, and they could still be spotted at airports across the world in the months leading up to the global pandemic.

Many 747 fans cherish the magic of a plane that revolutionized travel. Plus, it’s one of the few planes to offer a unique atmosphere on the exclusive upper deck. Though British Airways is the largest current operator of the Boeing 747-400, it’s not the first one to bid farewell to the Queen.

Throughout the pandemic, KLM, Qantas and Virgin Atlantic said goodbye to their jumbos.

But not all hope is lost. There are still quite a few 747 operators left, for those who’d like some more time with the Queen.

Many are of the newer 747-8 variety, which features an elongated upper deck, as well as a new wing structure.

You’ll find 747s operated by Air China, Korean Air and Lufthansa, among others.

Of course, much could change depending on the trajectory of the recovery, but that’s the plan as of now. All U.S.-based carriers retired their 747s in the late 2010s.

Source: MSN《》RT

Mark Zuckerberg just became $7.2 billion poorer after a flurry of companies pulled advertising from Facebook Inc.’s network.

Shares of the social media company fell 8.3% on Friday, the most in three months, after Unilever, one of the world’s largest advertisers, joined other brands in boycotting ads on the social network.

Unilever said it would stop spending money with Facebook’s properties this year.

The share-price drop eliminated $56 billion from Facebook’s market value and pushed Zuckerberg’s net worth down to $82.3 billion, according to the Bloomberg Billionaires Index.

That also moved the Facebook chief executive officer down one notch to fourth place, overtaken by Louis Vuitton boss Bernard Arnault, who was elevated to one of the world’s three richest people along with Jeff Bezos and Bill Gates.

Companies from Verizon Communications Inc. to Hershey Co. have also stopped social media ads after critics said that Facebook has failed to sufficiently police hate speech and disinformation on the platform. Coca-Cola Co. said it would pause all paid advertising on all social media platforms for at least 30 days.

Zuckerberg responded Friday to the growing criticism about misinformation on the site, announcing the company would label all voting-related posts with a link encouraging users to look at its new voter information hub.

Facebook also expanded its definition of prohibited hate speech, adding a clause saying no ads will be allowed if they label another demographic as dangerous.

“There are no exceptions for politicians in any of the policies I’m announcing here today,” Zuckerberg said.

Source: FOX NEWS《》RT

Emirates To Suspend All Passenger Flights From March 25

By Staffer-Rhodesia Times

Dubai carrier Emirates Airline announced on Sunday it will suspend all passenger flights from March 25 amid the novel coronavirus outbreak.

“By Wednesday 25 March, although we will still operate cargo flights, which remain busy, Emirates will have temporarily suspended all its passenger operations,” the airline’s chairman and CEO Sheikh Ahmed bin Saeed Al-Maktoum said in a statement.

“We continue to watch the situation closely, and as soon as things allow, we will reinstate our services.”

Emirates passenger flights normally serve 159 destinations.

The United Arab Emirates on Friday announced its first two deaths from the COVID-19 disease, having reported 153 infections so far, of which 38 people have recovered.

Maktoum said that, until January this year, the Emirates Group was “doing well” against current financial year targets, but “COVID-19 has brought all that to a sudden and painful halt over the past six weeks”.

“The world has literally gone into quarantine due to the COVID-19 outbreak,” he said.

The disease first emerged in China in late December and was declared a pandemic by the World Health Organization earlier in March.

Gulf countries have imposed various restrictions to combat the spread of the virus, particularly in the air transport sector.

The UAE has stopped granting visas on arrival and forbidden foreigners who are legal residents but are outside the country from returning.

Coronavirus: Stocks Bounce As Volatility Continues

Financial markets remain turbulent as a massive slowdown in economic activity due to the coronavirus takes hold across Europe and the US.
In the US, shares have rebounded almost 6% after steep falls on Monday.

London's FTSE 100 has also jumped 2.5% after being down more than 1% earlier on Tuesday. Other major European markets are making similar moves.

It comes amid fresh promises of financial aid to helped bolster growth.

President Donald Trump's administration said it was considering sending checks to Americans so they have cash to spend during the coronavirus crisis.

It has also increased the amount of tax payments that can be deferred, Treasury Secretary Steve Mnuchin said on Tuesday.

Meanwhile, in the UK, Chancellor Rishi Sunak is expected to announce more financial help later for UK firms affected by the outbreak.

The outgoing head of the Office For Budget Responsibility, Robert Chote, has said a temporary spike in borrowing would be sensible.

Speaking to the Treasury Select Committee he said it was better to spend a "little too much" than too little, adding: "When the fire is large enough, you just spray water" (and worry about the clean up after).

*Source:Dow Jones I.A.*