LABOR
Google settles suit
Alphabet Inc’s Google has reached a settlement for an undisclosed amount with Chelsey Glasson, who said she faced discrimination by the search giant after she became pregnant. Glasson sued Google in 2020 after repeated efforts to report pregnancy discrimination were ignored, she said in October last year. She estimated that her legal fight would cost more than US$100,000 and take a heavy toll on her mental health. Glasson said that her experience at Google left her with insomnia, panic attacks and heart palpitations. Google did not immediately respond to a request for comment. Glasson confirmed the settlement, but did not provide details.
JAPAN
PM touts ‘new capitalism’
The benefits of growth should not belong to a limited group, Prime Minister Fumio Kishida said yesterday, as he faced questions in parliament over policies that some say are negative for stock prices. “Capitalism isn’t sustainable unless it is something that belongs to all stakeholders,” Kishida said of his “new capitalism” policies. “From that point of view, it’s important to accept that the fruits of growth are flowing to shareholders and to think about that situation.” While the full details of Kishida’s economic policy program have yet to be unveiled, he has talked of a shift away from shareholder-focused capitalism and a bid to expand the middle classes.
REAL ESTATE
Colliers sees expansion
Colliers International Group Inc expects more real-estate investment trusts (REITs) to be formed in India’s nascent market following the robust performance of their listed peers in the country. “We expect a lot more REITs to happen over the next one year, given that all REITs have done well in spite of uncertainties,” Ramesh Nair, chief executive officer for the property consultancy firm’s Indian operations, said in an interview with Bloomberg Television. “Going forward, there would also be industrial and retail REITs, while office REITs will continue.”
LOGISTICS
GXO nears Clipper buyout
GXO Logistics Inc reached a preliminary agreement to buy Clipper Logistics PLC for about ￡943 million (US$1.29 billion) in a deal that would combine two global supply chain management giants. Greenwich, Connecticut-based GXO’s offer is valued at ￡9.20 per share for Clipper, with ￡6.90 in cash and the rest in new GXO shares, the companies said in a statement on Sunday. London-based Clipper said its board would unanimously recommend the offer to shareholders. Clipper handles logistics for many major European retailers including Asda Stores Ltd and ASOS PLC. GXO operates hundreds of warehouses globally.
METALS
Amplats plans payout
Anglo American Platinum Ltd (Amplats) is to pay out 80 billion rands (US$5.26 billion) in dividends after the world’s biggest platinum miner by market value reported bumper profit driven by surging metal prices and higher output, it said yesterday. The Johannesburg-based company’s dividend equates to 100 percent of headline earnings, it said in a statement. Amplats declared a second-half payout, including a special dividend, of 33 billion rands, or 125 rands per share, raising the full-year return to 80 billion rands. The payout beefs up the coffers of Anglo American PLC, which owns about 79 percent of Amplats — one of its most profitable units.
MediaTek Inc (聯發科), the world’s biggest smartphone chip supplier, yesterday said it plans to double investment in data center-related technologies, including advanced packaging and high-speed interconnect technologies, to broaden the new business’ customer and service portfolios. The chip designer is redirecting its resources to data centers, mainly designing application-specific integrated circuits (ASIC) with artificial intelligence (AI) capabilities for cloud service providers. The data center business is forecast to lead growth in the next three years and become the company’s second-biggest revenue source, replacing chips used in smart devices, MediaTek president Joe Chen (陳冠州) told a media event in Taipei. “Three or four years
Until US President Donald Trump’s return a year ago, when the EU talked about cutting economic dependency on foreign powers — it was understood to mean China, but now Brussels has US tech in its sights. As Trump ramps up his threats — from strong-arming Europe on trade to pushing to seize Greenland — concern has grown that the unpredictable leader could, should he so wish, plunge the bloc into digital darkness. Since Trump’s Greenland climbdown, top officials have stepped up warnings that the EU is dangerously exposed to geopolitical shocks and must work toward strategic independence — in defense, energy and
Motorists ride past a mural along a street in Varanasi, India, yesterday.
For the second year in a row, a Brazilian movie has wowed international audiences and critics, securing multiple Oscar nominations and drawing fresh interest in the Latin American giant’s film industry. Experts say the success of The Secret Agent, which has won four Oscar nominations, a year after I Am Still Here won Brazil its first Oscar, is no fluke, with a bit of a push from the country’s political climate. “This is neither a coincidence nor a miracle. It is the result of a lot of work, consistent policies, and, of course, talent,” Ilda Santiago, director of the Rio International Film
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