Sears files for bankruptcy, 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.: Sears files for bankruptcy, business leaders drop out of Saudi summit, and more top news
- Iconic retailer Sears filed for bankruptcy protection today.
- JPMorgan Chase CEO Jamie Dimon is the latest figure to drop out of Saudi Arabia’s upcoming Future Investment Initiative, over the disappearance of Washington Post columnist Jamal Khashoggi.
- Apple has acquired music analytics startup Asaii, reports Axios.
- The cost of caring for the family pet is skyrocketing.
- Consumers are losing the taste for American cheese.
CANADA: Canada ups trade with China over US, Sears files for bankruptcy, and more top news
- Canadian exports to China since April have risen more than twice as quickly as those to the U.S.
MEXICO: Surcharges hit income of Mexicans, Oxxo launches app for home delivery, and more top news
- Mexicans lose 16% of their income with surcharges.
- Mexican chain of convenience stores Oxxo will launch an application for home delivery in 2019.
- Food waste costs in Mexico 25 billion dollars a year.
- Citibanamex obtains 250 million dollars from the sale of its asset management business to Blackrock.
- Home Depot launches a program to foster Mexican suppliers for its business.
BRAZIL: Embraer launches new aircraft; first retail cryptocurrency debuts in November, and more top news
- Embraer launches mid-sized executive aircraft with greater reach.
- First retail cryptocurrency to be released in November.
- Brazilian pharmaceutical industry invested more than US$ 500 million abroad.
- Fast-food chain Popeyes arrives in Brazil.
- For Mercado Pago, mobile phones will substitute PIN and chip readers.
- Expedia has launched a suit against Ryanair, claiming the airline is destroying package holiday competition by not allowing it to sell Ryanair fares.
- Patisserie Valerie is considering suing auditor Grant Thornton for failing to spot a ￡40 million “black hole” in its finances.
- Ikea is celebrating “an incredible year,” says Ingka Group CEO Jesper Brodin.
- French college école Nationale d’Administration, which has produced some of the nation’s presidents and top civil servants, is facing bankruptcy.
- A restaurant in Milan is offering diners free meals if they post a photo of their food to Instagram and have thousands of social media followers.
- Royal Mail staff have claimed their shares were sabotaged, after the company issued a profit warning just weeks before many employees planned to sell their holdings.
- The public will be asked to nominate a British figure to appear on the new ￡50 note.
- Patisserie Valerie is considering suing auditor Grant Thornton for failing to spot a ￡40 million “black hole” in its finances.
- Three-quarters of UK workers do not receive same pay from one month to the next, according to a report.
- Car insurance costs have accelerated for the first time in a year, adding to fuel price pressures for motorists.
FRANCE: Last Brexit talks failed, Ena is almost facing bankruptcy, and more top news
- The latest Brexit talks failed this weekend over Northern Ireland borders negotiations.
- With a deficit of €2.8 million, French National School of Administration could fall into bankruptcy by 2022.
- Wealthier households are the big winners of the new government fiscal policy.
- Japanese casual wear retailer is building automated warehouses to compete with Amazon.
- Navya, Malt and Snips rank among the most attractive startups in France in 2018.
- CSU, the leading party in Bavaria and sister party to Merkel’s CDU, has seen its worst results in Bavarian elections since 1950.
- Prices haven’t climbed this much in seven years: In September, they were 2.3% higher compared to a year ago.
- The Federal Agency for Financial Market Supervision is investigating fintech N26 because of possible security issues.
- Housing is getting more and more expensive for students, especially in Berlin, Munich and Frankfurt.
- A new font called Sans Forgetica is supposed to make learning easier.
INDIA: Maharashtra to allow online sale of liquor, Amazon eyes stake in Spencer’s, and more top news
- In a first in the country, the Maharashtra government has decided to allow online sale and home delivery of alcohol.
- Amazon has reportedly offered $400 million for a 30% stake in retail chain Spencer’s.
- The taxman is analysing big data from post-demonetisation days to catch evaders.
- The government will set up a panel of legal experts to probe #MeToo allegations.
- India’s farms continue to get smaller, the latest Agriculture Census reveals, as rural population grows and land holdings fragment.
AUSTRALIA: Coles drought-relief milk slammed, ANZ fires 200 staff since grilling, and more top news
- Coles is under fire for its drought-relief milk levy after commentators called it an "empty media stunt".
- ANZ has fired 200 staff since the Banking Royal Commission revealed unethical behaviour.
- Staff at celebrity chef Neil Perry’s restaurants have been underpaid a collective $1.6m.
- Demand for emu eggs is skyrocketing with interest from restaurants, bodybuilders and retirees.
- Researchers at RMIT University have developed a font that’s intentionally challenging to read, with slants and gaps, helping readers better retain the information they’re consuming.
- Japan may have a 10-day Golden Week holiday next May, thanks next emperor’s proclamation day.
- 83 percent of employees answered companies that ban sideline job unattractive: survey.
- Forbes announces World’s 500 best employers rankings; Japan Exchange Group tops Japanese companies with 12th.
- Samsung unleashes “world’s first” four-lens smartphone.
- Yamato Holdings, Bell Helicopter agree to develop unmanned “flying truck”.
CHINA: Alibaba eats down Ele.me,Xiaomi’s new expansion plan in Wuhan & Nanjing, and more top news
- Ele.me, the largest online food delivery platform in China officially merged with Koubei, Alibaba’s local-search service.
- Xiaomi announced its expansion plan in Wuhan and Nanjing, which provides employees with a series of benefit plans such as 30,000 RMB relocation allowance.
- Hello Bike opens its online car hailing service in Shanghai, Nanjing and Chengdu.
- Huawei announces its 140 million AI talent education plan, partnering with developers, universities and R&D institutes.
- Four major cities in Guangdong lead the provincial chart of salary raise, with an average increase of 10% yoy.