Posts by Amelia Frost
UPS To Cut 20,000 Jobs, Close 73 Facilities Amid Amazon Delivery Pullback, Cost-Cutting Drive
UPS announced on Tuesday its plans to eliminate 20,000 jobs this year as part of a broader cost-reduction initiative. This strategic decision follows the company’s move to scale back its package deliveries for Amazon, its largest customer. UPS Plans More Layoffs And Facility Closures Operating across more than 200 countries, UPS currently employs approximately 490,000…
Read MoreChinese Factories Slow in Early Sign of Trade War’s Toll
President Trump’s tariffs are already taking a toll on China’s factories. Three weeks into a trade war that pushed import tariffs of Chinese-made goods to 145 percent, an official report on manufacturing activity signaled that in April, Chinese factories experienced the sharpest monthly slowdown in more than a year. The report, a survey of industrial…
Read MoreTrump Praises Bezos As Amazon Denies Plan To Display Tariff Cost
US President Donald Trump on Tuesday said Amazon founder Jeff Bezos “did the right thing” by stopping a plan to show consumers how much US tariffs add to each price tag. Earlier Tuesday, Punchbowl News reported that the e-commerce site would show users how much Trump’s tariffs are hiking the price of products, citing a…
Read MoreBunker-cafe On Korean Border Paints Image Of Peace
Reclining on sofas at a South Korean cafe, customers sip iced americanos as they gaze past barbed wire fences and watchtowers at the mountains of North Korea. Founder Lee Oh-sook and her husband, both the children of North Korean refugees, built the cafe less than two kilometres from the border in Paju, seeking proximity to…
Read MoreRetailers Fear Toy Shortages at Christmas as Tariffs Freeze Supply Chain
President Trump’s China tariffs are threatening Christmas. Toy makers, children’s shops and specialty retailers are pausing orders for the winter holidays as the import taxes cascade through supply chains. Factories in China produce nearly 80 percent of all toys and 90 percent of Christmas goods sold in America. The production of toys, Christmas trees and…
Read MoreChina’s Manufacturing Shrinks In April As Trade War Bites
China’s manufacturing activity shrank in April after growing at its highest rate in a year the previous month, official data showed Wednesday, as Beijing fights an intensifying trade war with the United States. Punishing US tariffs that have reached 145 percent on many Chinese products came into force in April, while Beijing has responded with…
Read MoreTrump Signs Executive Order Walking Back Some Auto Tariffs
President Trump signed a pair of executive orders on Tuesday that walked back some tariffs for carmakers, removing levies that Ford, General Motors and others have complained would backfire on U.S. manufacturing by raising the cost of production and squeezing their profits. The changes will modify Mr. Trump’s tariffs so carmakers that pay a 25…
Read MoreOpposition Leader Confirmed Winner Of Trinidad Elections
Trinidad and Tobago’s centrist former prime minister Kamla Persad-Bissessar will return as leader of the Caribbean nation after her party’s victory in Monday’s parliamentary election, the electoral commission confirmed Tuesday. Persad-Bissessar’s United National Congress party won 26 of the 41 seats up for grabs in the House of Representatives, ahead of outgoing prime minister Stuart…
Read MoreCorporation for Public Broadcasting Sues White House to Block Board Firings
The Corporation for Public Broadcasting sued the Trump administration on Tuesday, accusing it of illegally trying to fire three members of the company’s board. In the lawsuit, filed in the U.S. District Court in Washington, the media organization said the White House emailed three of the company’s five directors on Monday, telling them that their…
Read MoreWin Or Bust In Europa League For Amorim’s Man Utd
Ruben Amorim has bet the house on the Europa League after Manchester United’s disastrous Premier League campaign, knowing this season and next hinge on winning the competition. The Portuguese manager took over from the sacked Erik ten Hag in November, with United a miserable 13th in the table. Now they are 14th. That the former…
Read MoreStarbucks Profit Drops, but Leaders Say Turnaround Is Working
Faster coffee. More baristas. More seating. Despite headwinds from higher coffee prices and tariffs on certain products, Starbucks is seeing progress on its turnaround strategy, its chief executive, Brian Niccol, told investors and Wall Street analysts on a quarterly earnings call on Tuesday. “We’re not just building back our business,” he said. “We’re building back…
Read MoreParamount Board Clears Possible Path for Settling Trump’s ‘60 Minutes’ Lawsuit
Lawyers for President Trump and Paramount, the parent of CBS News, are set to begin mediation on Wednesday over a lawsuit brought by Mr. Trump that accuses “60 Minutes” of deceptively editing an interview with his 2024 Democratic opponent, Kamala Harris. Legal experts have called the suit baseless and an easy victory for CBS. But…
Read More