Fri, Aug 16, 2019 - Page 10 News List

World Business Quick Take

Agencies

INTERNET

‘Googlers’ protest CBP

Hundreds of Google employees on Wednesday called on the company to avoid working for the US Customs and Border Protection (CBP) until it stops “engaging in human rights abuses.” A petition signed by more than 600 “Googlers” as of late afternoon was prompted by word that CBP was preparing to request bids on a massive cloud computing contract. Google is a major cloud computing provider.

THAILAND

Wage hike plan falters

The government’s pledge to boost the nation’s minimum wage is foundering because of an economic slowdown. US-China trade tension and its impact on the kingdom is one of the risks to monitor, Minister of Labor Chatumongol Sonakul said. “It would be very difficult to do a wage increase at all” if the economy is “looking bad,” Chatumongol, a former Bank of Thailand governor, said in an interview on Wednesday in Bangkok. At the same time, he said wages need to climb in principle to improve the nation’s outlook.

BANKING

Deutsche seeks next chair

Deutsche Bank AG supervisory board chairman Paul Achleitner is searching for his successor after overseeing a tumultuous period marked by multiple restructurings, top management changes and a slumping share price. The search is partly in response to shareholder criticism about succession planning, people with knowledge of the matter said. “Mr Achleitner’s term as chairman runs until 2022. Beyond that, there are clear rules governing succession issues on the supervisory board; the nomination committee prepares them,” a Deutsche Bank spokesman said by e-mail.

BANKING

OCBC eyeing Permata

Oversea-Chinese Banking Corp (OCBC) is weighing a bid for Standard Chartered PLC’s Indonesian bank, people with knowledge of the matter said, a move that might create the nation’s fifth-largest lender. The Singaporean bank is considering an offer for almost 90 percent of PT Bank Permata, which has a market value of about US$1.9 billion, the people said. OCBC is interested in the stakes held equally by Standard Chartered and Jakarta-listed PT Astra International, with each owning 44.6 percent, the people said.

SHIPPING

Maersk beats estimates

A.P. Moller-Maersk A/S delivered an operating profit in the second quarter that beat analyst estimates, as the world’s largest shipping line reassured investors it can keep its outlook, despite an uncertain trade environment. The company reported earnings before interest, taxes, depreciation and amortization of US$1.36 billion, beating analysts’ average estimate of US$1.24 billion. Maersk said synergies of US$1 billion from combining its container transport activities came sooner than expected, which drove profit in the quarter.

AIRLINES

Ryanair pilots to strike

Ryanair DAC pilots are to strike for two days next week, their union said on Wednesday, escalating an internal pay row at the budget airline. Irish trade union Forsa said directly employed pilots would strike for 48 hours from 00:01am on Thursday, matching planned industrial action from British pilots. A strike notice was served on Dublin-headquartered Ryanair on Wednesday after mediation stalled earlier in the day.

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