Siemens faces German union showdown over layoffs

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BERLIN: Industrial conglomerate Siemens on Thursday (Nov 16) announced thousands of job cuts worldwide, most of them in its fossil fuels division, with unions and politicians in its home country Germany particularly outspoken against the plans. A total of 6,900 workers are set to lose their jobs … Powered by WPeMatico

US industrial output rises as hurricane hit reverses

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WASHINGTON: Output at US factories continued to rebound in October as oil refineries and petrochemical plants ramped up production after the severe disruption from Hurricane Harvey, according to data released on Thursday (Nov 16). The post-Harvey rebound fueled industrial production its biggest … Powered by WPeMatico

Best Buy falls short with holiday profit forecast

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REUTERS: Best Buy Co Inc reported disappointing third-quarter results on Thursday and forecast holiday-quarter profit below Wall Street estimates as it cut prices to match those offered by rivals including Amazon.com Inc . Shares of the United States’ single largest consumer electronics chain … Powered by WPeMatico

China's futuristic library: More fiction than books

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TIANJIN, China: A futuristic Chinese library has wowed book lovers around the world with its white, undulating shelves rising from floor to ceiling, but if you read between the lines you’ll find something is missing. Those rows upon rows of book spines are mostly images printed on the aluminium … Powered by WPeMatico

Singapore suspends trade relations with North Korea

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SINGAPORE: Singapore has suspended trade relations with North Korea, the latest of Pyongyang’s major trade partners to cut commercial ties under toughening UN sanctions over its weapons programme, a customs notice obtained on Thursday (Nov 16) showed. The move comes about two months after the … Powered by WPeMatico

CapitaLand to build S$247m residential project in Vietnam

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SINGAPORE: Property developer CapitaLand announced on Thursday (Nov 16) that it will build its ninth residential development in Vietnam’s Ho Chi Minh City. The 870-unit development, which will sit on a 1.45-hectare site in District 4, will cost US$177 million (S$247 million). There will be three … Powered by WPeMatico