The Rundown Rundown: Nike is giving thousands of workers raises, 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. The news team creates this digest for internal use; is this something you're interested in seeing? Let us know in the comments.
U.S.: Nike is giving thousands of workers raises, Chick-fil-A is selling meal kits, and more top news
- Nike is raising the salaries of more than 7,000 employees and changing its annual bonus system after a review of its compensation packages.
- Chick-fil-A is getting into meal kits: The fast-food chain will sell five varieties of “Mealtime Kits” at 150 Atlanta area restaurants through mid-November.
- Google is on its way to becoming a trillion-dollar company, with parent company Alphabet bringing in $32.66 billion in its second quarter (minus a $5 billion fine from European regulators).
- Tronc has cut the New York Daily News editorial team in half, to about 40.
- E-cigarette maker Juul Labs is being sued in three separate lawsuits over claims the company uses deceptive marketing to lure young people and is less safe than it alleges.
CANADA: Nike is giving thousands of workers raises, how Canada can stay competitive, and more top news
- The OECD says Canada must review its tax policies in order to remain competitive.
- Police have identified the shooter who opened fire in a Toronto street on Sunday night and killed 2 people.
- Economic activity in Mexico grew 0.5% in May, according to an INEGI report.
- Mexican peso appreciates against U.S. dollar after optimism on NAFTA deal.
- According to study, Mexicans believe retirement conditions will be worse for them than for their parents.
- Cabify launched a helicopter service in Mexico City.
- Repsol bought 40% of Mexican motor oil company Bardahl.
- The IMF reduced Brazil’s 2018 economic growth forecast to 1.8% from 2.3%.
- Government investigation identifies R $ 10 billion in undue payments to beneficiaries.
- Brazil wins World Cup…on social media: the National Team was responsible for the largest number of interactions during the tournament.
- Seven of ten professions that demolished the most jobs in the past year are related to construction.
- After a stable week, Petrobras, once again, lowered the price of gasoline.
EUROPE: Ryanair warns of job losses, Germany’s beer bottle shortage, and more top news
- Ryanair CEO Michael O’Leary has threatened striking workers with job losses after the company reported a 22% drop in pre-tax profit in its first quarter.
- Germany is running out of beer bottles as the summer heatwave fuels high demand.
- The European Investment Bank has signed a €24m agreement with Terna Energy Group, supporting the development, construction and operation of two wind farms in northern Greece.
- The European Central Bank has told Italy’s Banca Carige to submit a new plan to boost capital, saying it should consider a merger as an option.
- Flanders is banning the production of foie gras and fur, with the region’s 17 mink farms and single foie gras producer given until 2023 to cease operations.
- Facebook is set to double its London presence after acquiring enough office space to house 6,000 staff.
- Britain’s poorest households are worse off than they were 15 years ago, despite record employment levels.
- Britain has seen almost 1,300 pubs close down over the last year, amounting to some 25 every week.
- Teachers, doctors and other public sector workers in Britain will get a pay rise after Theresa May moved to scrap her government’s pay cap.
- Stagecoach is trialling the UK’s first full-sized driverless bus.
- French retailer Leclerc to provide electricity to 3 million clients in France by 2025.
- Facebook to launch thousands of small satellites to provide internet to rural areas.
- European countries are investing in stopping people from using phones while driving.
- French publisher of board games Asmodee will be acquired by Pai Partners funds for €1.2 billion.
- Senior residences are popular in France: 500 already exist, and that number may increase to 900 by 2020.
- Chinese e-commerce giants JD.com and Alibaba are investing heavily in Germany.
- Worker strikes and losses of revenue cause concern at Ryanair.
- Facebook confirms satellite project to provide internet access in remote areas.
- German breweries are in danger of running out of bottles.
- 47,000 confidential documents from car makers like Toyota and VW accidentally got leaked online.
INDIA: WhatsApp’s new feature to fight fake news, what GST cuts will cost India, and more top news
- WhatsApp is testing a new feature to mark dubious messages as "suspicious". The label will automatically apply to messages that have unusual characters in their links or web address.
- Last week’s GST cuts could result in a revenue loss of ?15,000 crore to the government, Bloomberg reports.
- Vodafone and Idea paid ?7,268 crore to the Department of Telecommunications, clearing the way for their merger.
- Top iPhones have slower internet speeds than rivals from Samsung and Google, data from Ookla shows.
- McDonald’s is converting used cooking oil into biodiesel for its delivery trucks.
AUSTRALIA: NAB to give drought-hit farmers a break, Aussie workers stress less, and more top news
- NAB admitted it “lost touch”and will stop charging drought-affected farmers penalty interest.
- Australian workers are the second least stressed in the world, behind Netherlanders.
- A former AMP planner has described a "dictatorship" where he claims he was pressured to sell products that would leave clients worse off.
- Customers mistrust ‘cash only’ shops and businesses could be missing out on sales.
- Analysts predict house construction will dwindle and be a “drag on the economy.”
JAPAN: Cabbage price rising 150% due to heatwave, Tokio Marine investing in startup, and more top news
- The record-breaking heatwave in Japan is affecting prices of vegetables. The price of cabbage, for example, is increasing 140-150%.
- Meanwhile, beverage and beer makers plan to increase production. Kirin and Suntory, for example, plan to increase the production of beverages by 10-40%.
- Tokio Marine & Nichido Fire Insurance is investing in startup Metromile.
- Softbank will start offering mobile digital payment services in Japan.
- JR Kyushu is teaming up with Alibaba to increase Chinese tourism in the Kyushu area.
CHINA: Xiaomi users report P2P investment losses, Panda TV is looking for a buyer, and more top news
- Xiaomi phone users reported P2P investment loses. Investors are accusing Xiaomi of pushing fraudulent ads.
- Panda TV, the third largest live gaming platform, is seeking a buyer to save its business.
- China’s Ministry of Industry and Information Technology issued official virtual telecom provider licenses to fifteen companies including Xiaomi, Alibaba and JD.
- The house rental market is gaining momentum in China’s first-tier cities. The number of new apartments increased 35 percent this year.
- Alibaba is supposedly investing more than $600 million in Chinese AI startup Megvii Inc.