List of All Articles with Tag 'h'

Chinese state-linked developer Sino-Ocean Group Holding Ltd. has suspended payment on all its offshore borrowings, citing tight liquidity,

BEIJING China's fiscal revenue rose 10% in the Jan-Aug period of 2023, slower than 11.5% growth in Jan-July,

BEIJING China's government land sales revenue fell for the 20th consecutive month in August, data from the finance

Elon Musk’s X has agreed to attempt to settle a lawsuit by former employees who say the company cheated them of severance pay following mass layoffs. After taking over Twitter, which he rebranded X recently, Mr Musk cut nearly two-thirds of the social media company’s workforce from about 8000 to 2,000, claiming he had “no choice” as the company was losing $4m per day. “Everyone exited was offered 3 months of severance, which is 50 per cent more than legally required,” Mr Musk said. Many laid-off employees, however, publicly announced they never got the severance they were due to get. In the months that followed, the company was hit by several lawsuits, including one alleging the layoffs disproportionately targeted women. Now, months after urging Twitter, the company has agreed to try and settle, according to a memo sent by Shannon Liss-Riordan, who represents the laid-off workers. The labour and civil rights attorney, representing nearly 2,000 ex-employees, said X would attempt to settle with the laid-off staff. “After 10 months of pressing them in every direction we have succeeded in getting Twitter to the table,” she wrote in the memo cited by Bloomberg. Further schedule for the mediation remains unclear, but reports suggest negotiations could happen on 1 and 2 December. X did not immediately respond to The Independent’s request for comment. Some ex-employees have alleged Twitter did not pay them promised severance either. One employee said earlier this year that he had “never even seen a severance letter let alone been offered severance”. While some former staff attempted to resolve the issue by first filing a class-action lawsuit against X, their contracts with Twitter, however, required that disputes be resolved via arbitration. “We are very proud to be representing nearly 2,000 former Twitter employees, in individual arbitrations as well as more than a dozen class action lawsuits in court,” Ms Liss-Riordan had earlier said in a statement, adding that lawyers and former staff were working to recover “what they are owed”. Read More Musk the messiah (or a very naughty boy?) Elon Musk ignores reporter after claims he stopped Ukrainian attack on Russia Elon Musk was on brink of death after catching malaria on South African safari, book claims Musk the messiah (or a very naughty boy?) Elon Musk warns of ‘civilisational risk’ posed by AI at historic gathering Musk was on brink of death after catching malaria on safari, book claims

Central banks take centre stage with five of those overseeing the 10 most heavily traded currencies - including

H&M’s revenue growth unexpectedly ground to a halt as the Swedish retailer raised prices even amid increasing competition

A major Chinese property company has suspended offshore debt payments, deepening turmoil in the beleaguered sector.

By Laurie Chen and Xiaoyu Yin TONGCHUAN, China Construction worker Shi Tieniu bought a presale apartment in an

STOCKHOLM Sweden's H&M reported on Friday flat sales in its most recent quarter, lagging expectations as the fashion

BANGKOK Thailand will set a new daily minimum wage by the year's end, its labour minister said on

SEOUL South Korea's housing market climbed for a second straight month in August, data showed on Friday, with

By Seunggyu Lim, Cynthia Kim and Jihoon Lee SEOUL South Korea is reviewing measures to limit currency and