World

Ghosn gets US$6 million bill as Nissan-Mitsubishi case backfires
USA, World

Ghosn gets US$6 million bill as Nissan-Mitsubishi case backfires

A court in Amsterdam on Thursday ordered fugitive former car executive Carlos Ghosn to repay Nissan and Mitsubishi almost 5 million euros (US$6.1 million) in wages he received from their Dutch registered joint venture Nissan-Mitsubishi BV in 2018. AMSTERDAM -Fugitive former car executive Carlos Ghosn suffered a setback on Thursday when a Dutch court ordered him to repay 5 million euros (US$6.1 million) in wages to Nissan and Mitsubishi in a case he had brought. The case, one of a series of legal battles involving one of the best known figures in the auto industry, centres around the Dutch-registered joint venture Nissan-Mitsubishi BV (NMBV), where Ghosn was ousted as chairman in 2019. Ghosn claimed the Japanese companies violated Dutch labour laws when they dismissed him and had dem...
Pakatan Harapan calls for ‘clear action plan’ after Chinese military planes detected near Malaysian airspace
World

Pakatan Harapan calls for ‘clear action plan’ after Chinese military planes detected near Malaysian airspace

KUALA LUMPUR: The Pakatan Harapan (PH) coalition on Wednesday (Jun 2) urged the government to develop a “clear action plan”, after Chinese military transport planes were detected heading towards Malaysian airspace and threatened the country’s sovereignty. In a statement, PH’s Security Committee said: “This incident is a threat to flight safety, challenges national sovereignty and affects international ties." “Therefore, the government should present a clear action plan and also allow parliamentarians to discuss this crucial incident, in the interest of the country.” The opposition coalition also asked Defence Minister Ismail Sabri Yaakob to conduct a special bipartisan briefing involving the government and the opposition to clarify the next steps and the current requirements of the ...
Jakarta start-up provides cleaning products without the plastics
USA, World

Jakarta start-up provides cleaning products without the plastics

JAKARTA: Just a few hours after using a mobile app to order some dishwashing liquid, Jakarta resident Juweriah opens the door to a motorcycle courier who provides a direct refill in her kitchen. Juweriah, who like many Indonesians goes by one name, is taking advantage of a rise in environmentally friendly businesses in a country that is the second-largest ocean plastic polluter in the world. The 38-year-old homemaker orders products through Siklus, a start-up that provides cleaning and sanitary products minus plastic packaging to homes and businesses in the Indonesian capital. "We can refill (the bottles) and reduce the amount of detergent plastic waste," Juweriah said. "Neighbours here have followed suit." A worker prepares to top-up dispensers with cleaning liquid at a Siklus off...
COVID-19 trauma has changed economics — maybe forever
World

COVID-19 trauma has changed economics — maybe forever

Once ideas about how to manage the economy become entrenched, it can take generations to dislodge them. Something big usually has to happen to jolt policy onto a different track. Something like COVID-19. In 2020, when the pandemic hit and economies around the world went into lockdown, policymakers effectively short-circuited the business cycle without thinking twice. In the U.S. in particular, a blitz of public spending pulled the economy out of the deepest slump on record — faster than almost anyone expected — and put it on the verge of a boom. The result could be a tectonic transformation of economic theory and practice. The Great Recession that followed the crash of 2008 had already triggered a rethink. But the overall approach — the framework in place since President Ronald Reagan an...
The invisible struggle of people with high-functioning autism — and workplaces that hire them
World

The invisible struggle of people with high-functioning autism — and workplaces that hire them

After a lifetime of ‘blending in’ to survive, employees who hide their autism may not get the help they need to thrive. But some workplaces are changing that. This is the first part of a series on adulting with autism. SINGAPORE: A stranger might describe Khor Kuan Min as introverted. After getting to know the 37-year-old better, they might call him polite and articulate, with the occasional touch of self-deprecating humour. Those who are observant would notice that he has trouble maintaining eye contact. But few, if any, might realise he has autism. In his early 20s, he was diagnosed with Asperger Syndrome, which has been described as a neurodevelopmental condition on the higher-functioning end of the autistic spectrum. This means individuals like him behave in ways the general pop...
Long work hours are a killer, WHO study shows
USA, World

Long work hours are a killer, WHO study shows

Working long hours is killing hundreds of thousands of people a year in a worsening trend that may accelerate further due to the COVID-19 pandemic, the World Health Organization said on Monday. In the first global study of the loss of life associated with longer working hours, the paper in the journal Environment International showed that 745,000 people died from stroke and heart disease associated with long working hours in 2016. That was an increase of nearly 30% from 2000. "Working 55 hours or more per week is a serious health hazard," said Maria Neira, director of the WHO's Department of Environment, Climate Change and Health. "What we want to do with this information is promote more action, more protection of workers," she said. The joint study, produced by the WHO and the Intern...
Lessons learned from a millennial who paid off $120,000 of student debt in 26 months
USA, World

Lessons learned from a millennial who paid off $120,000 of student debt in 26 months

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners. In an effort to help younger generations learn how to be debt-free and combat money taboo among the Latinx community, Sofia Bastida, a 24-year-old first-generation Mexican American, created @savingwithsofie. Through this platform, she shares her experience paying off $120,000 in student loans within the span of 26 months on an income below six figures. Like many college students, Bastida wasn't aware of many of the basics of finance until she got into student loan debt and felt obligated to pay it off on her own. Without a college fund, Bastida took out federal studen...
Commentary: Why Hong Kong property defies gloomy forecasts
World

Commentary: Why Hong Kong property defies gloomy forecasts

Investors should take note of Hong Kong developers, says the Financial Times’ June Yoon. LONDON: Forecasts for the Hong Kong property market this time last year were as gloomy as the view from the Peak overlooking the territory on one of its more polluted days. Political uncertainty, travel bans related to the COVID-19 pandemic and the UK’s decision to open the door to Hong Kongers holding British National Overseas passports were widely expected to knock billions off property valuations. But the territory’s property market, not for the first time, has defied the doom-laden predictions. While rents have dropped, Hong Kong’s April property deals by value more than doubled, according to Land Registry data. In the secondary market, home prices are on track to hit a 23-year high, accor...
Formula 1: Perez proves he is up to speed at Red Bull
World

Formula 1: Perez proves he is up to speed at Red Bull

BAKU: Sergio Perez said before the Formula One season started that he needed five races to get up to speed with Red Bull and the Mexican duly delivered by winning the sixth in Azerbaijan on Sunday. If victory fell into his lap after team mate Max Verstappen crashed out with a tyre blowout five laps from the end while leading, it was still richly deserved. Perez had qualified only seventh, moving up to sixth after McLaren's Lando Norris was demoted, but he showed his pace throughout. The Mexican made up two places on the opening lap, was third by lap eight and had slotted into second behind Verstappen by lap 12. Perez joined Red Bull at the end of last season, after being replaced by four times world champion Sebastian Vettel - second on Sunday - at what is now Aston Martin. It had...
Japan’s economy slumps more than expected as COVID-19 hits consumption
World

Japan’s economy slumps more than expected as COVID-19 hits consumption

TOKYO: Japan's economy shrank more than expected in the first quarter as the slow vaccine roll-out and a resurgence in COVID-19 infections hit consumption, reinforcing expectations the country will lag major trading partners in emerging from the pandemic. Extended state of emergency curbs are likely to keep any recovery in the current quarter modest, analysts say, adding to challenges for policymakers seeking to pull Japan out of the doldrums. "With the medical situation still worsening and the vaccine roll-out too slow, it will take until the end of the year for output to return to pre-virus levels," said Marcel Thieliant, senior Japan economist at Capital Economics. The world's third-largest economy shrank an annualised 5.1 per cent in the first quarter, more than a median marke...