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“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes

admin May 3, 2021

China-based Fuyao Glass Industry Group, whose U.S. plant was the subject of the Oscar-winning documentary “American Factory” in 2020, plans to raise to HK$4.3 billion, or $550 million, in a stock sale amid improvement in its business this year, according to a Hong Kong Stock Exchange filing on Sunday. The glass supplier, whose auto industry customers include Toyota, Volkswagen, General Motors, Ford and Hyundai, plans to sell 101.1 million shares at HK$42.64, representing a fully diluted 3.9% stake. Fuyao’s shares trade in Hong Kong and Shanghai. Fuyao expects that China’s automobile industry “will recover and rebound in 2021” compared with pandemic-hit 2020, the readmore

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Indian Billionaire Urges Government To Impose Lockdowns In India As

admin May 2, 2021

ToplineDespite international aid efforts ramping up, the second wave of Covid-19 infections in India continues to intensify, yielding a new record high for daily deaths on Sunday and prompting an outcry—from businessmen and public officials alike—for government intervention to help ease the rate of infection. Key Facts In a Sunday statement for the Confederation of Indian Industry, Indian billionaire Uday Kotak called on increased lockdown measures in India and urged "the strongest national steps, including curtailing economic activity, to reduce suffering." India's Ministry of Health and Family Welfare reported 3,689 new Covid-19 deaths Sunday, marking the readmore

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Billionaire Philanthropist Eli Broad Dead At 87

admin May 1, 2021

ToplineEli Broad, who amassed a multi-billion-dollar fortune from his home-building and insurance businesses, and used his wealth to fund cultural improvements throughout his adopted hometown of Los Angeles, died Friday at age 87. Key Facts A spokeswoman for the Eli and Edythe Broad Foundation confirmed his passing to the New York Times Friday evening, which she said came after a long illness. Broad died at Cedars-Sinai Medical Center in Los Angeles. Key Background: Broad was born in New York in 1933. The only child of Jewish immigrants from Lithuania, his family moved to Detroit in 1940, where his father painted houses and ran readmore

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COVID-19 burnout is real — and your employer is worried

admin May 1, 2021

Jonathan Frostick’s first resolution after suffering a heart attack in April was to cut down on video conferencing at work. “I’m not spending all day on zoom (sic) anymore,” the London, U.K.-based program manager financial services firm HSBC, wrote on LinkedIn last month.“I’m restructuring my approach to work,” Frostick continued. “I’m really not going to be putting up with any s#%t at work ever again — life literally is too short.”The vow struck a chord. The post has attracted more 295,000 likes and 15,000 comments so far, with readers sympathizing with Frostick and sharing readmore

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Why a strong Canadian dollar isn’t an excuse to indulge

admin April 30, 2021

The Canadian dollar has come a long way in the past year and its trajectory places it among the strongest currencies of 2021. It has been trading above 81 cents relative to the greenback for seven days in a row, and currency analysts say it could climb further in coming months.The loonie had plunged to 70 cents US at the onset of the pandemic, when fearful investors piled into the perceived safety of the greenback. And commodity prices collapsed. But things are different now.As the uneven global recovery begins — with Asian economies at the forefront and China leading the charge — demand readmore

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AstraZeneca reports $275M in sales from vaccine during 1st quarter

admin April 30, 2021

AstraZeneca said its COVID-19 vaccine sales were $275 million in the first-quarter and it is on track to deliver 200 million doses a month from April, as better-than-expected results and a second-half growth forecast boosted its shares. Chief Executive Pascal Soriot again defended the vaccine rollout on Friday, saying that Anglo-Swedish drugmaker had not overpromised on its ability to supply shots, as he defended big cuts in deliveries that prompted a European Union lawsuit.READ MORE: ‘Demand is outstripping the supply’ — Is Canada running out of AstraZeneca COVID-19 vaccines?AstraZeneca, which has said it will not make a profit from the shot readmore

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Canadian dollar hits highest level since 2018, could climb further:

admin April 30, 2021

Economists say the Canadian dollar is at a ‘sweet-spot’ after rising for seven straight days to top 81 cents US, a point where it benefits consumers but doesn’t hurt businesses too much. The loonie traded for 81.34 cents US Thursday, the highest level since February 2018. It’s been above 80 cents US since last week.Colin Cieszynski, chief market strategist with SIA Wealth Management, said it is important to remember that the Canadian and U.S. dollars were at parity only a decade ago, so businesses won’t be hurting too hard just yet.READ MORE: Loonie could hit pre-coronavirus levels if readmore

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Singapore’s Olam To Buy U.S. Spice Maker For $950 Million

admin April 30, 2021

Singapore-listed Olam International said its food ingredients subsidiary is buying Olde Thompson, a U.S.-based maker of private label spices and seasonings, at an enterprise value of $950 million. The agricultural commodities trader said in February that it has appointed financial and legal advisers to prepare for the initial public offering of Olam Food Ingredients (OFI), which supplies cocoa, coffee, nuts, spices and dairy. OFI said the acquisition of Olde Thomson will transform its spice business and be earnings accretive from the first year onwards. “Growing our offerings of private label solutions is right at the heart of OFI’s readmore

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Transat is issuing refunds for cancellations due to COVID-19. How

admin April 29, 2021

Samantha Borquez Perez, who lives in Sarnia, Ont., had planned to travel to Cuba to celebrate her birthday with her best friend in April 2020. Her vacation was booked through Air Transat. But her trip — which would have been her first to a sun destination — was cancelled two weeks before they were set to leave as the COVID-19 pandemic took hold. Read more: Transat secures $700M deal with feds, intends to issue customer refunds The 28-year-old mother of three, who lost her job in retail due to the pandemic and is currently on maternity leave until September, was “so excited” to readmore

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Ontario is launching paid sick leave. Should other provinces follow

admin April 29, 2021

Following months of public pressure prompted by a surge in COVID-19 cases, the Ontario government has finally announced its paid sick leave program. The Ontario COVID-19 Worker Income Protection Program is retroactive, beginning April 19 and ending on Sept. 25. It includes access to three paid sick days, and the province has agreed to reimburse employers 100 per cent of the employee’s wage for up to $200 a day. Read more: Ontario’s COVID-19 paid sick leave program to include 3 days for workers For some, the announcement marks a victory for employees that has been a long time coming.“It’s a breakthrough readmore

Category : Money

“American Factory” Owner Fuyao Glass To Raise $550 Mln, Eyes

Indian Billionaire Urges Government To Impose Lockdowns In India As

Billionaire Philanthropist Eli Broad Dead At 87

COVID-19 burnout is real — and your employer is worried

Why a strong Canadian dollar isn’t an excuse to indulge

AstraZeneca reports $275M in sales from vaccine during 1st quarter

Canadian dollar hits highest level since 2018, could climb further:

Singapore’s Olam To Buy U.S. Spice Maker For $950 Million

Transat is issuing refunds for cancellations due to COVID-19. How

Ontario is launching paid sick leave. Should other provinces follow

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