Business

Intel Corp announced on January 31 that it has significantly reduced employee and management compensation, one week after issuing a lower-than-anticipated sales projection due to a loss of market share to competitors and a decline in the PC market. The cutbacks would range from 5% of basic salary for mid-level staff to as much as 25% for the company’s chief …

Hong Kong outlawed cannabidiol (CBD), a derivative of cannabis, as a “dangerous narcotic” on February 1 and imposed severe penalties for its use, forcing new enterprises to close or restructure. CBD, which is produced from the cannabis plant, is said to alleviate stress and inflammation without intoxicating its users, unlike its more well-known cousin tetrahydrocannabinol (THC), the psychoactive component of …

According to a report that was published by Bloomberg News on January 29, 2019, which cited people with knowledge of the matter, the India unit of Apple-supplier Jabil Inc. has started manufacturing components for AirPods in the country, and the company is shipping plastic bodies or enclosures for AirPods to China and Vietnam. A request for comment from Reuters was …

Cebu Pacific anticipates restoring “100% pre-COVID systemwide capacity” by March, but the low-cost carrier cautioned it may take many years for the tourism industry to return to previous levels. We have been cautiously hopeful for the past twenty-four months. President and chief commercial officer Xander Lao stated at a January 25 media event, “We’re extremely enthusiastic for 2023, given that …

A former overseas Filipino worker (OFW) who now operates her own events and digital marketing business has donated a one-bedroom flat to other OFWs who are seeking employment in the city. Michico Lopez Ramos, 38, stated that she is doing so because she understands what it is like to be unemployed and without family in a distant country. “I am …

The richest man in Asia is the Indian businessman Gautam Adani, whose business empire includes coal, airports, cement, and media. He is currently shaken by claims of business malfeasance and a stock market meltdown. The billionaire began the week as the third-richest person in the world, but has now fallen to seventh place on Forbes’ billionaires tracker after suffering a …

Twitter deactivated the account of white nationalist Nick Fuentes on Wednesday, January 25, only one day after a move to reinstate it drew significant condemnation. Fuentes made many antisemitic statements in a Twitter Space on Tuesday after his account was reinstated, according to Hannah Gais, a senior researcher at the Southern Poverty Law Center who tracks hate organizations. After his …

Microsoft and OpenAI jointly announced on January 23 the continuation of their artificial intelligence (AI) development relationship. In a statement, Microsoft referred to it as “the third phase of our long-term engagement with OpenAI through a multiyear, multibillion-dollar commitment to expedite AI discoveries to guarantee these benefits are widely shared throughout the globe.” Microsoft CEO Satya Nadella stated, “We developed …

On Tuesday, Swatch Group shares reached their highest point in over two and a half years after the world’s largest watchmaker predicted a rebound in luxury demand from China. The manufacturer of high-end Omega, Tissot, and Longines timepieces as well as its own mass-market plastic watches reported that January sales in China had already surpassed the high levels observed in …

According to LinkedIn, the number of jobs in Singapore that assist businesses in digitizing and expanding against economic turbulence is growing. Its most recent Professions on the Rise statistics shows surges in hiring for growth specialists, technological jobs, and health-care professionals in Asia, as well as for a variety of other occupations that are anticipated to extend hiring well beyond …