Its The Economy, Stupid - Economic & Business News From Around The World

Arnathor

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J Crew is going bankrupt - I say good riddance, diffused and low quality for as long as I knew the brand.
 

Fwiffo

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Well, at least it's better than the British economic forecast where it was worse since the 18th century.

"We have put our economy into a medically induced coma in order to heal it from the pandemic... and that has led to the most precipitous loss of jobs seen in any of the modern data."
 
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Fwiffo

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did you forget the Great Depression?
I was looking in that article for the 1930s. They didn't do a graph of that. Bank of England is predicting their contraction will be the worse since the 18th century.
 

Fwiffo

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"DoorDash is backed by investment giant Softbank, which this week posted a record-breaking loss of nearly $13bn.

Defending the loss, chief executive Masayoshi Son reportedly compared himself to Jesus.

The billionaire is said to have stated during a call with investors that Jesus was 'also misunderstood'.

He later apologised."
 

Pimpernel Smith

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Pimpernel Smith Pimpernel Smith your people doing the lords work

Very fake news indeed.

There is an online BDS type movement against Israeli potatoes. The farmers have not been dumping large amounts if potatoes outside of supermarkets. There was a riot over a year ago and supermarket was trashed by the so called Palestine Working Group Enschede who took great offence at Israeli foodstuff being sold in the supermarket.

And there's a very good reason that potatoes are not being sourced in the Netherlands as they make crap chips.
 
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Fwiffo

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“‘Most of the shopping centres in China are still empty. Half of the flights aren't there. German shops are open but who wants to go and shop?’

Emerging Asia though will see better growth than ’other advanced economies.’

But there will be a greater split between the US and China, and many Asian countries will be forced to choose between the two superpowers.

‘Each one of them is going to say to the rest of the world, either you are with us or against us,’ he says. ’Either you use my AI systems, my 5G, my technologies, my robotics. Or you are using the one of my rival's. Therefore there is going to be a more divided world.‘“

A choice between the enlightened leadership of Xi Jinping or Donald Trump.
 

Pimpernel Smith

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“‘Most of the shopping centres in China are still empty. Half of the flights aren't there. German shops are open but who wants to go and shop?’

Emerging Asia though will see better growth than ’other advanced economies.’

But there will be a greater split between the US and China, and many Asian countries will be forced to choose between the two superpowers.

‘Each one of them is going to say to the rest of the world, either you are with us or against us,’ he says. ’Either you use my AI systems, my 5G, my technologies, my robotics. Or you are using the one of my rival's. Therefore there is going to be a more divided world.‘“

A choice between the enlightened leadership of Xi Jinping or Donald Trump.
Certainly some jobs and ways of doing things are not coming back. And some will be coming back on much less wages and possibly hours e.g. pilots and flight attendants.
 

Fwiffo

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Fwiffo

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"The uncertainty of this recession is mostly biological - in the beginning, we didn't know how deadly the disease was, what its side effects were, or what kinds of treatments might be effective. But as time goes on, science advances.

As soon as a vaccine is developed, companies will be able to reopen without fear, which means they can rehire people, Mr Harvey says. Whereas in 2008, it wasn't clear when it was going to end."

I wish I shared his optimism. It sure doesn't look like this at ground zero.
 

Fwiffo

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"In April, the economy was around 25% smaller than in February."

"These numbers are not just records for a month, they are completely off the scale.

And yet at the same time, it's not entirely surprising that if the lifeblood of an economy is locked down that the hit should be so severe.

Empty streets, empty shops, empty offices and empty skies lead to numbers such as this.

The charts make the financial crisis of 2008-09 look like a blip."

Back to 2002-2003 levels.
 

Fwiffo

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"The founder of the Japanese company that created Hello Kitty has announced he is stepping down as CEO aged 92.

Shintaro Tsuji said he would hand over control of Sanrio to his 31-year-old grandson, Tomokuni Tsuji.

In Japanese tradition, CEO founders strive to pass on their positions to family members. Mr Tsuji's son died of a heart attack in 2013, and so this is why his grandson is taking over.

Tomokuni Tsuji has already pledged to transform the company and to drop outdated ideas. Let's hope he's not referring to Hello Kitty, who is older than the company's new leader."

Must suck when you wait so long to be CEO that you die and your son needs to take over now.
 

Pimpernel Smith

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Must suck when you wait so long to be CEO that you die and your son needs to take over now.
Hence the old adage: waiting on dead men's shoes.

In the old corporate man structure, that was a real game of luck. Your birth date in closeness to your line manager and their longevity of career, could really do you over career wise. Leave you with just a couple of years at the top of your game.
 

Fwiffo

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What will you be left with when all the companies denounce your whiteness? Im sure there's a fascist soapmaker out there somewhere.
We'll all wear blackface or brownface to fit in with the new coloured order?
 

Thruth

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What will you be left with when all the companies denounce your whiteness? Im sure there's a fascist soapmaker out there somewhere.
Shouldn't L'Oreal be using "our"?
 
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