Business

The UN's International Labor Organization reports a critical global employment challenge, with unemployed individuals expected to reach 190.5 million this year. ILO chief Guy Ryder describes the situation as "extremely worrying," highlighting significant challenges in job markets worldwide and potential economic instability.

Tesla is set to build its first European Gigafactory near Berlin, creating over 6,000 job opportunities. The 300-hectare property in Brandenburg will allow Tesla to use the prestigious "Made in Germany" label on its electric vehicles.

A week after Taal Volcano's eruption, Tagaytay businesses are reopening. 59 tourism and non-tourism establishments, including restaurants, hotels, and malls, have resumed operations after securing safety permits from local agencies.

Philippines-based Jollibee Foods Corporation successfully raised $600 million through its first perpetual securities issuance. The oversubscribed bond will support the company's international expansion strategy, including recent acquisition of The Coffee Bean and Tea Leaf, as management aims to become a top 5 global restaurant company.

Toyota has invested $394 million in Joby Aviation, a Californian aerospace company developing an all-electric vertical takeoff and landing (VTOL) aircraft. The six-rotor, five-seat flying taxi represents Toyota's strategic move into air transportation, aiming to revolutionize mobility and provide customers with innovative transportation solutions.

Hong Kong's flagship airline Cathay Pacific is offering up to one month of unpaid leave to its 27,000 employees, particularly affecting pilots and cabin crew. The move comes in response to low flight demands and passenger boycotts resulting from seven months of pro-democracy protests.

According to eMarketer, Pinterest surpassed Snapchat in US users by reaching 82.4 million in 2019, representing a 9% growth. The platform's universal appeal across different age groups distinguishes it from Snapchat's younger demographic, making it a more versatile social media platform for sharing visual content.

Amazon has reinstated FedEx's ground delivery services for third-party sellers after a temporary ban due to performance issues. The e-commerce giant announced that sellers can now use FedEx Ground and Home services, with the company meeting delivery requirements. This decision positively impacted FedEx's stock, which rose 3% following the announcement.

Tesco's $10bn plan to sell its Asian operations in Thailand and Malaysia could be complicated by Thai government regulations. The Trade Competition Commission warns that bidders acquiring more than 50% market share may require special authorization, potentially impacting the proposed sale of over 2,000 stores.

President Trump and China's Vice Premier Liu He signed a "phase one" trade agreement after nearly two years of negotiations, with China committing to purchase $200 billion in US goods and addressing intellectual property concerns.