The Rundown Rundown: UK to remain under EU law for extra 21 months, and more news around the world
Every day, LinkedIn publishes 12 Daily Rundowns, in 7 languages, around the world to get professionals up to speed. Here's a translated look at what each market is talking about today. The news team creates this digest for internal use; is this something you're interested in seeing? Let us know in the comments.
U.S.: Former Fiat chief dies at 66, the cord-cutting army is growing, and more top news
- Sergio Marchionne, former leader of Fiat Chrysler and Ferrari, has passed away at 66 following complications from surgery.
- 33 million people will become cord-cutters this year, predicts eMarketer — a hike from about 25 million in 2017.
- The White House unveiled an emergency plan to give $12 billion in aid to farmers facing fallout from the escalating global trade war.
- Seattle’s city council has granted domestic workers minimum pay, rest breaks and city advisors — becoming the first city in the U.S. to offer such protections.
- As of Tuesday, Yelp shows “hygiene scores” for restaurants in New York, California, Texas, Illinois and Washington, D.C.
CANADA: Toronto's gaining thousands of tech jobs, former Fiat chief dies at 66, and more top news
- Toronto created 28,900 new tech jobs in 2017, more than the amount of industry jobs created in San Francisco, Seattle and Washington D.C. combined, according to a study from CBRE.
- Canadian athletic brand Lululemon named former Sephora executive Calvin McDonald as its new CEO after the departure of Laurent Potdevin.
- The Trudeau government has requested a NAFTA review for a 30% Trump administration tariff on solar panel cells.
MEXICO: Trump calls for quick NAFTA deal, Pacific Alliance and Mercosur sign agreement, and other top news
- U.S. President Donald Trump called for a quick NAFTA deal in his letter to Mexico President-elect Andres Manuel Lopez Obrador.
- Pacific Alliance and Mercosur signed an agreement to deepen economic and commercial ties.
- Inflation in Mexico is rising more than expected.
- TV Azteca reported losses due to the high costs of World Cup broadcast rights.
- Smart baby monitor Koala is now available in Mexico.
- Mining company Vale won Moody's seal and recovered investment recommendations from the three largest risk agencies.
- Revenues grew 6.8% this year and reached R$ 110.8 billion, says the Brazilian Revenue Service.
- 56% of Brazilian Internet users click on online ads.
- With R$ 526 million in the second quarter of the year, Grupo Pão de Açúcar has a net profit five times higher than in 2017.
- Brazilian Development Bank loaned R$ 27.8 billion in the first half of 2018.
EUROPE: UK clings to EU laws, Europe backs Greece after deadly fires, and more top news
- The UK will keep EU laws until the end of 2020 rather than repealing them on exit day next year, Prime Minister Theresa May has announced.
- The EU has pledged to support Greece as it continues to battle devastating fires that have so far claimed 75 lives.
- Four airlines have launched a claim against French air traffic controllers, claiming their strikes were in breach of EU rules.
- The EU has issued €111m in fines to four electronics makers accused of online price fixing.
- Museums in Belgium are asking Facebook to relax its nudity rules, claiming their online ads for Flemish artworks that happen to depict nudity keep getting removed.
- The UK will remain under EU laws for an additional 21 months after Brexit.
- Ryanair has announced that it will cut its Dublin-based fleet by 20%
- Sexual harassment in the workplace is still “widespread and commonplace”, according to MPs.
- London taxi drivers are preparing to sue Uber for more than £1bn, over claims of lost earnings.
- An advert for Heinz Beanz has been banned for a second time after breaching advertising regulations.
FRANCE: How to become the CEO of a CAC 40 company, Galileo’s accuracy on the rise, and more top news
- To become a CAC 40 company CEO, you should get a degree from Polytechnique, the National School of Administration or HEC Paris.
- European GPS Galileo increased the accuracy of its location based services.
- Late payment penalties reached €7 million in France since January.
- 41% of small and medium-sized companies struggle to fill open positions.
- Nike gave 7,500 workers raises to diminish the pay gap.
- The U.S. government paid farmers $12 billion to help with losses in the trade dispute.
- University graduates increasingly look for job security and jobs in the public sector.
- For the first time in nearly 20 years, Opel made a profit.
- Alphabet, Google’s parent company, reported much better quarterly results than expected – despite a record EU fine.
- Nike increased the salaries of 7,000 employees.
INDIA: Black money in Swiss banks down 35%, 7 in 10 patents filed by foreign applicants, and more top news
- The money stashed away by Indians in Swiss banks fell nearly 35% last year, interim finance minister Piyush Goyal said, citing data from the Bank for International Settlements.
- Only one U.S. firm filed more than twice as many patents in India as the country's top labs put together.
- Self-exiled liquor baron Vijay Mallya wants to come back to India, Mint reports. Mallya is said to have informed the Enforcement Directorate of his willingness to return after the agency moved to confiscate his assets.
- Booking train tickets via online travel sites other than IRCTC may become more costly.
- Domestic smartphone companies are in precarious situations as international brands take center stage.
AUSTRALIA: Aussie wine exports break records, Crown Resorts' tax office fight, and more top news
- Australia’s wine exports jumped 20% to be worth $2.76bn last year.
- The Australian Tax Office is pursuing Crown Resorts over an alleged tax-dodge scheme that ran up more than $730m in deductions.
- The Chinese Government has fined a2 Milk $20,000 for using a child in its advertising.
- Google has chosen Perth-based startup Moneycatcha to be part of its annual cloud conference.
- Factories are getting behind drought-stricken farmers, trucking scraps for cattle to eat.
- Japan's government wants all Japanese carmakers to produce electric vehicles by 2050.
- Transport giant Yamato overcharged corporate moving service clients by ¥1.7 billion.
- Consumer Agency pointed out Mcdonald's misrepresented menu.
- Japan's two major Taxi companies teamed up with a ride-sharing app under pressure from Uber and DiDi.
- Despite automation, Japan's labor market will be "excessive" by 2030, according to Mitsubishi Research Institute.
CHINA: Facebook started a subsidiary in China, Xiaomi Removed all P2P Ads, and more top news
- Facebook registered a Chinese subsidiary in Hangzhou after 10 years of trying to enter China’s mainland market.
- Xiaomi took down all P2P investment ads from its MIUI system after users reported fraud.
- Changsheng Biotechnology, the protagonist of vaccine scandal, will suspend trading for one day.
- Yong Zhang, CEO of Alibaba, defeated Pony Ma of Tencent, in the Top CEO list of Chinese listed companies by Jiemian.
- Four-day work weeks were widely talked about on Weibo after a New Zealand firm made a permanent change to a shorter work week.
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