German car production drops, and more news around the world
Every day, LinkedIn publishes 12 Daily Rundowns, in 7 languages, around the world to get professionals up to speed. Here's a translated look at what each market is talking about today.
U.S.: Uber revs up to be largest IPO of the year, Walmart brings on more robots, and other top news
- Uber will look to raise around $10 billion through its initial public offering — making it the largest IPO of the year and one of the biggest tech IPOs ever, reports Reuters.
- In a bid to control labor costs, Walmart is introducing more robots to keep track of stock, clean floors and unload trucks.
- House flipping is back to crisis-era levels.
- Bank of America aims to pay its workers a minimum of $20 per hour by 2021.
- Chuck E. Cheese is set to go public again after five years as a private company —the first restaurant firm to enter the market in years.
CANADA: Scotiabank Caribbean plan scrutinized, Canada to lose 12,500 energy jobs, and more top news
- The Bank of Nova Scotia's plans to sell its assets in the Caribbean to Trinidad and Tobago-based Republic Financial Holdings have been flagged by watchdogs as "anticompetitive."
- Canada's oil and gas sector will lose 12,500 jobs this year, a 23% drop from 226,500 jobs in 2014 to 173,300 jobs, a new report forecasts.
- Canada is in no rush to ratify the new United States-Mexico-Canada trade deal, said Foreign Affairs Minister Chrystia Freeland, because the existing NAFTA deal remains.
- Tech giants Facebook and Google attended a congressional hearing Tuesday over the rise of racism on their platforms, just as other governments, including Canada and the U.K., consider industry regulation.
MEXICO: IMF downgrades Mexico's growth projection; slight rise in inflation in March, and more top news
- The International Monetary Fund (IMF) downgrades the growth forecast for Mexico.
- Inflation accelerated slightly in March and reached the limit of Mexico Central Bank’s target.
- Violence had a negative impact of 5.16 trillion pesos on Mexico’s economy in 2018.
- Federal Electricity Commission purchases 520 million dollars in coal from Glencore.
- Grupo Modelo will bring 2,000 electric trucks to Mexico for the distribution of beverages.
- 51% of Brazilians reject Social Security reform.
- Bolsonaro guarantees extra payment in social program.
- Corruption deviates $1 trillion in taxes around the world.
- IMF: Brazilian economy to grow 2.1% in 2019.
- Number of formal domestic employees falls by 15%.
EUROPE: Ex-Renault boss Ghosn states his innocence, Brexit could be extended until 2020, and more top news
- Former Renault-Nissan boss Carlos Ghosn has released a video in which he says he's innocent of all charges of financial impropriety.
- The UK is likely to be offered a Brexit extension until either December 31 or March 2020, reports the Guardian.
- Global economic growth is set to slow to crisis-era levels as trade battles take their toll, according to the International Monetary Fund.
- Uber has rolled out its first electric scooter scheme in Europe.
- Frankfurt Airport is trialling an AI-powered robot head that can provide information for travellers.
U.K.: Demise of Debenhams a ‘national scandal’, long Brexit delay looks likely, and more top news
- Sports Direct owner Mike Ashley has labelled the takeover of Debenhams by its lenders as a “national scandal”.
- The UK is likely to be offered a Brexit extension until either December 31 or March 2020, reports the Guardian.
- Nationwide is revamping its options for older borrowers, becoming the first of the big high street lenders to offer mortgage products and dedicated advice to the over-55’s.
- British cosmetics firm Lush is quitting social media.
- Britons are throwing away 720 million eggs each year at a cost of ￡139m.
- You will have to declare your income to the fiscal administration this year, even if it won’t be taxed.
- Guillaume Faury will be appointed as the new Airbus president today.
- Global economic growth will slow down to 3.3% in 2019, says IMF.
- The OECD wants the government to accelerate reforms in France.
- A fleet of 600 hydrogen taxis will operate in Paris.
- German car production is tumbling in Q2, year-over-year.
- Global economic growth is set to slow to crisis-era levels as trade battles take their toll, according to the International Monetary Fund.
- New tax on Internet giants has been approved by the French National Assembly.
- The EU commission has published ethics rules for AI.
- Amazon wants to offer health services via Alexa.
INDIA: Why Ola cancelled a $1.1B ride with SoftBank, what ails India’s J-schools, and more news
- SoftBank’s offer to invest an additional $1.1 billion in Ola fell through due to co-founder Bhavish Aggarwal’s concerns around ceding control, Bloomberg reports.
- India’s J-schools need more practising journalists as faculty instead of professors with little industry exposure, reporters and editors on LinkedIn say.
- Many of India Inc’s vaunted names aren’t doing enough to ensure gender diversity on their boards.
- IIT Madras is India’s top higher education institute, according to a government ranking of the country’s premier schools.
- Soon, you’ll be able to book flight tickets, order meals and arrange for hotel stays on Amazon, Economic Times reports.
- Naresh Goyal has offered to pledge the rest of his shares in Jet Airways if lenders immediately inject ?1,500 crore into the airline, Economic Times reports.
AUSTRALIA: Atlassian’s ambitious energy move, green light for Google drone deliveries, and more top news
- Google will use drones for deliveries in Canberra’s north
- Atlassian wants to shift to 100% renewable energy sources for its electricity by 2025
- Banks should hire “social responsibility officers” to manage non-financial risks
- The construction union has been accused of bullying employers.
- Australia’s largest city wants to stop Telstra’s plan to install revamped payphones
- Carlos Ghosn’s defense team revealed a video of the Nissan ex-chairman saying his arrest was the result of conspiracy, blaming Nissan executives for playing a “very dirty game” by orchestrating his detention in jail.
- The number of senior workers in their 50s who have changed jobs last year has doubled compared to three years ago, Nikkei reported.
- The percentage of cancer patient who survived after 10 years has risen to 56.3 percent, according to the National Cancer Center.
- Convenience store chains prepare for consumption tax hike in October amid concern that retailers are under-prepared for the reduced tax rate system.
- Slack revealed a new office in Tokyo that is designed to become a hub for business collaboration.
CHINA: Huawei may sell its 5G modems to Apple, women delay marriage for work, and more top news
- Huawei is ‘open’ to selling its 5G modems to Apple.
- Women in China are delaying marriage for a better career, a report says.
- The European Commission said it had started to draw up plans to retaliate over Boeing subsidies.
- JD.com starts a new round of senior management rotation.
- Tesla starts the quarter by laying off more sales staff.