The Rundown Rundown: ZTE gets a reprieve, and other news around the world
Every day, LinkedIn publishes 10 Daily Rundowns, in 6 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.
In reverse chronological order…
- Mexico's president-elect Lopez Obrador says he will work together with president Pe?a Nieto on NAFTA negotiations with U.S. and Canada.
- Car sales in Mexico drop 6% in June.
- U.S. dollar weakness makes Mexico's peso to recover.
- Fitch warns that Lopez Obrador plan for Pemex may affect Mexico's oil company outcomes.
- Congress will have the highest number of women in Mexico's history.
- Beer sales are up 50% on Brazil's World Cup game days.
- Real estate prices have decreased 2.59% in the first half of 2018.
- Vehicle sales grew 14.4% in the first six months of the year.
- Trade balance has a surplus of US $30 billion in 2018, so far.
- Electricity bills are 15% more expensive as of today.
U.S.: Shopping malls are emptying out, Netflix is more popular than cable, and more top news
- Netflix is more popular than cable TV and YouTube, according to a Cowen & Co. survey.
- Shopping malls across the U.S. haven’t been this empty in six years.
- The board of Barnes & Noble announced that the company has fired CEO Demos Parneros for violating company policies, declining to specify details.
- The Department of Commerce has started lifting the ban imposed on Chinese phone maker ZTE.
- The Education and Justice Departments have rescinded policy guidelines on affirmative action in college admissions.
CANADA: Vancouver house prices at record levels, Netflix is more popular than cable, and more top news
- Housing affordability in Vancouver is at “crisis levels,” according to the RBC Housing Affordability Measures study.
FRANCE: Employment is on the rise... precarious work too, Décathlon CEO resigns, and more top news
- 341,000 net jobs have been created in France in 2017, but short-term contracts and part-time work also increased.
- CEO of French sporting goods retailer Décathlon Mathieu Leclercq resigns.
- A digital entrepreneur takes the lead of Medef, the largest employer federation in France.
- Who will win the juicy market of the Eiffel Tower’s restaurants?
- ADM has agreed to buy French animal nutrition business Neovia for $1.8 billion.
- Buyers of new e-cars can get state subsidies, but they are barely used: There have only been 66K requests in two years – even though there is money for 300K cars until June of 2019.
- The German economy is benefitting from the minimum wage, mostly because of higher consumption.
- PSA (Peugeot Citroen) wants to sell parts of Opel’s R&D unit, as reported by French newspaper Le Monde.
- Dell announced plans to trade publicly again.
- Temporary employment is on the rise in Germany. The government plans new rules to counteract this development.
U.K.: UK town centres risk becoming ‘ghost towns’, Ryanair pilots in Ireland to strike, and more top news
- Britain’s town centres are at risk of “becoming ghost towns”, a former retail boss has warned.
- Almost 100 Ryanair pilots based in Ireland have voted to strike next week.
- Tesco is set to take on the vegan market, by trialling a plant-based burger that “bleeds”.
- A slowdown in print advertising has weighed on Telegraph Media Group’s annual results.
- Construction activity bounced back in June, pushed higher by a recovery in house building and commercial activity.
INDIA: Supreme Court upholds crypto ban, fresh twist in Fortis takeover race, and more top news
- The apex court has refused to provide temporary relief to cryptocurrency exchanges impacted by the RBI’s banking ban.
- Few takers for Fortis Healthcare: The Munjal-Burman combination, which had made an offer earlier, has backed out of the race.
- India has directed WhatsApp to curb the spread of "messages filled with rumours and provocation."
- Punjab National Bank is closing most operations at its Mumbai branch, the epicentre of the $2 billion banking fraud.
- The Bombay Stock Exchange is delisting 222 companies today as part of the government's clampdown on shell firms.
AUSTRALIA: Credit card debt totals $45bn, Penfolds add Chinese liquor to wine, and more top news
- Australians collectively owe $45bn on their credit cards, with 18.5% of customers “overwhelmed” by debt.
- Penfolds will sell wine laced with Chinese liquor baijiu at $150 a bottle.
- Facebook is advertising on Australian TV shows, bus stops and websites against fake news.
- A Foodora rider fired for talking about his pay and conditions is claiming unfair dismissal.
- TAFE enrolments fell by 39,800 people last year.
- Ant Financial is close to a deal to invest $100 million in China’s Xueqiu, a social network for investors and financial information service provider.
- Xiaomi will be soon added to the benchmark Hang Seng index after its Hong Kong IPO, according to reports.
- The U.S. Commerce Department has temporarily lifted a portion of the ban on ZTE that all but shut down the company almost three months ago.
- Tencent shut down Douyin’s mini-program on Wechat on the day it’s launched, claiming it violating data use agreement.
- China now has around 4040 AI companies across the country, but only 30 percent of them are backed by venture capital.