Netflix Pledges $100 Million To Support Black Communities In The U.S.
Netflix has made a $100 million pledge to support black communities in the United States. The commitment was announced in a blog post on Tuesday where it was explained that 2% of the company’s cash holdings would go to “directly support Black Communities in the U.S.” which could lead to up to $100 million in donations.Netflix CFO Spencer Neumann told Squawk Box on Tuesday, “roughly $5 billion in our cash balance sheet as of last quarter. If we can move 2% into these Black owned or Black led financial institutions… where we can still manage our liquidity… it’s a way to do this on an ongoing bas...
Online sales jumped 150% for Thailand's Index furniture chain
BANGKOK, NNA— Online sales for Thailand’s major furniture chain Index Living Mall Public Co. (Index) in the first quarter of 2020 soared to a high of 150 percent from the 31.5 million baht ($1 million) made during the same period of 2019.Online shopping contributed 78.7 million baht to total sales during the first quarter as people began to stay and work at home mostly because of the coronavirus pandemic, said the company, which will expand e-commerce in view of the online shopping trend.Overall, there was a spike in demand for home furniture, making up 67.8 percent of sales in the first three...
NNA Business News
UAE-based company plans to triple face-mask production
DUBAI: ViroMasks is producing half a million of its reusable face masks each month to guard against COVID-19, the UAE-based company said.It plans to increase production to 1.5 million masks by August by automating some of the production process, partner Usman Khalid told Arab News.The company’s masks combine various technologies that “neutralize COVID-19 within 30 minutes of exposure, whereas in regular fabric (the virus) can last from 48 hours to a week or so,” Khalid added.The masks are produced in the UAE by AMCO, which also manufactures uniforms for other sectors, such as military and secu...
‘They took it over by force’: Corruption and palm oil in Sierra Leone
SAHN, Sierra Leone — The day they came, Margaret Fascia was in her forest garden of cocoa trees, pineapple plants, palms, ferns and cassavas. Like most days of the week, she was working, looking after the crops that feed her family. But she was afraid. Word had gotten around that a foreign company was going to take their land.And when they came, they came with a bulldozer.“I stood in front of the machine,” Fascia said. “ ‘Peep peep peep’ made the bulldozer as it came right up to my foot. I didn’t move. So they stopped there. They don’t touch my palm trees.”Fascia is a woman of around 50, who w...
Mercedes Reveals All-Black Livery In Support Of Anti-Racism Movements, Pledges To Diversify
Mercedes, in support of anti-racism movements across the United States, has unveiled a new livery for the 2022 Formula One season. The livery is an all-black look and in an Instagram post, the company described it as “a pledge to improve the diversity of our team and our sport, and a signal of the Team’s commitment to fighting racism and discrimination in all its forms.”One of the biggest fans of the decision is Mercedes driver, and arguably the best F1 driver in the world, has been Lewis Hamilton. Hamilton, whose father is black, spoke about the opportunities that these movements have brought...
Inside Amazon's Kent fulfillment center, a proving ground for the company's coronavirus response
The four-year-old Amazon fulfillment center in Kent, Wash., has played an outsized role in the company’s response to the coronavirus pandemic.Employees there began sounding alarms to management in the first half of March, and then to reporters, as the virus began spreading in the Seattle-area and demand from customers spiked. The facility — the closest of its kind to Amazon’s Seattle headquarters — became a proving ground for several new safety measures implemented by the commerce giant, including coronavirus testing.The last three anxious months have brought dramatic changes to the Kent wareh...
The Seattle Times
Cirque du Soleil officials file for bankruptcy protection
All live performances were shut down in March (20) when the pandemic began, cutting off all of the French-Canadian company's revenue streams, and now officials are having to lay off nearly 3,500 employees, as they work to restructure its finances.Reports suggest executives are facing debts of nearly $1 billion (£811 million), but Daniel Lamarre, president and CEO of Cirque du Soleil Entertainment Group, is confident the Chapter 15 bankruptcy protection filing is the right move to protect the future of the brand."I look forward to rebuilding our operations and coming together to once again crea...
Reasonable to punish firm for scallops that fled
China Daily | Updated: 2020-06-30 07:24The China Securities Regulatory Commission recently penalized Zhangzidao, imposing a 600,000 yuan ($84,815) fine on the company, a 30,000-300,000 yuan-fine on 15 responsible personnel and five-year to lifetime ban on four of its personnel from entering markets.The Zhangzidao Group has become a laughing stock on the Chinese stock market for coming up with innovative excuses such as "the scallops fled" or "the scallops died" to explain "financial losses". Such absurd claims hurt investor confidence while the regulator had no way to prove the company committ...
Hundreds of German Amazon workers strike for pay deal
Frankfurt am Main (AFP) - Hundreds of workers walked out at Amazon sites across Germany Monday to press for a binding pay and conditions agreement and highlight coronavirus risks, but the company has so far brushed off their demands."We're upping the pressure as Amazon has so far given no sign of understanding and is endangering employees' health for company profits," Orhan Akman, a representative for service workers' union Verdi, said in a statement.Local worker representatives estimated that up to 450 employees joined the strike at an Amazon logistics centre in the western town of Rheinberg....
One Championship MMA fights to resume next month
Singapore (AFP) - Asia's largest mixed martial arts promotion, One Championship, will return behind closed doors in Thailand next month after a five-month break because of the coronavirus, officials said on Monday.One, which promotes cards across the region in mixed martial arts, Muay Thai and kickboxing, last put on a major show at the end of February.The Singapore-based company has since cancelled several events and slashed 20 percent of staff, although it has also revealed a $70 million funding boost from institutional investors.With virus outbreaks slowing in many parts of Asia, the compan...