Business

Pertaining to and impacting businesses, markets and the economy

 
Amazon workers in Tilbury protest low pay rise
Hundreds of Amazon workers in Tilbury, UK have staged a protest against a low pay rise offer of 35 pence an hour. The union is seeking a two-pound an hour rise to cope with the inflation crisis and to better compensate for the challenges of the role.
 
‘Grotesque greed’: Guterres slams oil and gas firms
UN chief Antonio Guterres has slammed oil and gas companies for profiting from the ongoing energy crisis. Accusing the oil and gas companies and their financial backers of 'grotesque greed,' Guterres urged governments worldwide to "tax these excessive profits."
 
US Treasury Department announces additional sanctions on Iran
On Monday, the US announced fresh sanctions against six entities aiding the international sale of Iranian petroleum and petrochemical products. The latest sanctions follow those levied in June and July against Chinese and UAE companies.
 
Register of Overseas Entities comes into force in the UK
The UK government now requires foreign companies holding property in the country to record their true owners in an official register. The UK government states, "The new Register of Overseas Entities is held by Companies House and requires overseas entities that own land or property in the UK to declare their beneficial owners and/or managing officers."
 
Hitler’s watch sold in controversial sale
A watch alleged to have belonged to Adolf Hitler has sold for $1.1M at an auction in Maryland. The front of the watch has a black dial bearing the name Huber and on the back of the gold case are engraved a swastika and the initials "AH".
 
Chevron posts record profit, lifts buyback guidance
On Friday, Chevron Corp (CVX.N) posted its biggest quarterly earnings, built on strong fuel margins and high prices for natural gas and oil, and boosted its share buyback target. The oil major posted second-quarter net profit of $11.6 billion, or $5.95 per diluted share - more than triple the $3.1 billion, or $1.60 per share, in the same period last year.
 
JetBlue to merge with Spirit airlines
Spirit Airlines has announced the collapse of its merger deal with Frontier Airlines. JetBlue had said in a news release it would pay $33.50 a share in cash for Spirit in a $3.8 billion deal.
 
170 carat pink diamond unearthed in Angola
A rare pink diamond, now named the "Lulo Rose", has been discovered in a mine in Angola. The 170-carat stone, weighing 34 grams (1.2 oz), is reportedly the largest of its kind discovered in the last 300 years.
 
Sprite to introduce new sustainable bottles in August
Next month, Sprite will do away with its signature green plastic bottles after a stint of 60 years. The initiative comes as part of broader efforts by the company to be more sustainable.
 
Lufthansa cancels over 1,000 flights after ground staff strike
Lufthansa cancelled almost all its flights in Germany on Wednesday due to a strike by its ground staff. On Tuesday, Lufthansa confirmed the assumptions that the strike would have "a massive operational impact in the middle of the peak travel season."