A day of strikes planned by Uber drivers in cities around the world drew a modest turnout Wednesday, as protesters denounced the ride-hailing giant’s employment and pay practices before its blockbuster initial public offering this week. In Britain, some drivers, joined by members of other unions, protested at Uber offices around the country. About two dozen protesters outside the British headquarters in East London banged drums; released a smoke flare; displayed banners that read, “Uber sell off: Billions to bosses, poverty pay for drivers”; and chanted, “Uber, Uber, you can’t hide, we can see your greedy side.” In San Francisco, hundreds of protesters blocked the street in front of Uber’s headquarters as a brass band played. They carried signs that said Uber and Lyft, its primary rival in the United States, which went public in March, were “launching IPOs on the backs of their drivers.” And outside Uber’s New York City … [Read more...] about News Uber drivers herald IPO with global strike
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The US government has returned more than US$57 million (S$78 million) to Malaysia, the first instalment of funds recovered from asset seizures related to 1Malaysia Development Berhad (1MDB), the Malaysian Attorney-General's Chambers said. Attorney-General Tommy Thomas said this sum was forfeited from Red Granite Pictures, a US-based film production company linked to former prime minister Najib Razak and his stepson Riza Aziz. He said this arose from a US$60 million settlement recorded before the court of California, with a deduction of about US$3 million made to reimburse costs incurred by the Department of Justice (DOJ) and the Federal Bureau of Investigation in investigating, seizing, litigating and securing settlement for the Red Granite funds. Mr Thomas said Malaysia has recovered US$322 million worth of 1MDB assets since investigations into 1MDB effectively began after the 14th General Election in May last year. In another development related to 1MDB, former Goldman Sachs Group … [Read more...] about US starts returning 1MDB funds to Malaysia
REUTERS: Tesla Inc launched issues of new shares and debt worth more than US$2 billion on Thursday, with Chief Executive Officer Elon Musk pitching in US$10 million as the electric carmaker gave in to Wall Street pressure to bolster its cash reserves.Analysts have been predicting for months that Tesla would need to raise funds for its expansion plans, which include the construction of a factory in Shanghai, the upcoming Model Y SUV, and the crucial ramp up of Model 3 sedan production.Shares in the Silicon Valley company rose more than 5 percent on news of the capital raise plan, which follows Musk's hint last week that a fund-raising was imminent after Tesla lost US$700 million in the first quarter..The company said in the filing that it would seek to raise US$650 million in new shares and US$1.35 billion in debt, with underwriters having the option to buy an additional 15 percent of each offering, potentially raising the proceeds to US$2.3 billion."This was a smart move by Musk and … [Read more...] about Tesla seeks up to US$2.3 billion from share, debt issues
By Alex Ballingall Ottawa Bureau Mon., April 29, 2019 OTTAWA—The NDP is demanding the federal government cancel its $12-million award to help the Loblaw grocery empire upgrade its fridges, as the leftist party attempts to paint the Trudeau Liberals as a band of corporate sellouts. The call was included in the NDP’s opposition motion in the House of Commons Monday, which posits that “corporate executives and their lobbyists” have too much influence with the Liberals in power. The motion accuses the Trudeau government of “encouraging attempts” to undermine the rule of law on behalf of Montreal-based engineering giant SNC-Lavalin, failing to close tax loopholes, and continuing to provide billions of dollars in subsidies to oil and gas companies. NDP MP Daniel Blaikie said Canadians are “rightly angry” about the alleged sway of big business over Liberal decisions, which he called “the elephant in Ottawa.” … [Read more...] about The NDP says Ottawa needs to cancel its $12-million award to retrofit Loblaw fridges
Yes, we know HDB flats should be homes first and retirement funds second, and so on. But let’s be honest: Everyone wants to know what the big pay-off could be, besides shelter from the elements. Here’s a look at the numbers.WHICH FLAT TYPE APPRECIATES BEST?To find some answers, we looked at price movements of 3-room, 4-room and 5-room HDB flats over a period of 15 years. Starting with Singapore as a whole, here’s what we found:3-room HDB flats have appreciated by around 69 per cent. The average price of a resale 3-room flat today stands at around S$299,000, up from an average of S$176,800 back in 2004.4-room flats have appreciated by around 78 per cent. The average price of a resale 4-room flat is now around S$425,275, up from around S$238,300 in 2004.5-room flats lag just slightly behind 3-room flats, appreciating by around 68.57 per cent. The typical price today is around S$526,850, up from around S$312,500 on 2004.As such, we can see that 4-room flats show the … [Read more...] about Which type of HDB flat gives the best returns: 3-room, 4-room or 5-room?