Latest news with #929
TimesLIVE
26-05-2025
- Automotive
- TimesLIVE
Volvo to cut 3,000 jobs in restructuring
Sweden-based Volvo Cars said on Monday it will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a slowdown in electric vehicle demand and uncertainty over trade tariffs. Volvo Cars, majority-owned by China's Geely Holding, on April 29 unveiled a programme to slash costs by 18bn Swedish crowns (R33,929,250,000) and hit the brakes on investments, warning redundancies were inevitable. In the first quarter, the carmaker had 43,500 full-time employees and 3,000 staffing agency personnel, according to its earnings report. Volvo Cars said the reductions will primarily affect office-based positions in Sweden and represent around 15% of the total office-based workforce globally. "The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs," CEO Hakan Samuelsson said. As the group announced its cost cuts last month it also withdrew its financial guidance, pointing to unpredictable markets amid weaker consumer confidence and trade tariffs causing turmoil in the global car industry. On Friday US President Donald Trump threatened to impose a 50% tariff on imports from the EU from June 1, but on Monday he backed away from the date, restoring a July 9 deadline to allow for talks between Washington and Brussels. Samuelsson on Friday told Reuters customers would pay a big part of any tariff-related cost increases, and a 50% levy could make it impossible to import one of its most affordable cars, the Belgium-made EX30 electric vehicle, to the US.
South China Morning Post
02-05-2025
- Entertainment
- South China Morning Post
New York bar mixes cocktails and Chinese pop to give the music life beyond karaoke lounges
In New York's Long Island City neighbourhood there is a nondescript, white-tiled Taiwanese restaurant named Gulp. Advertisement Those not in the know might assume that the five counter seats are all there is to this little joint, but open the grey door at the rear, pull back the curtain behind it and you will find yourself in a softly lit cocktail bar imbued with warm, red tones reminiscent of Wong Kar-wai films. This is 929, a bar that pays tribute to 1980s and 1990s Cantonese and Mandarin pop culture and music, so named for its phonetic similarity to 'night to night' and because the numbers represent a New York telephone area code. Here the walls are covered in posters of Hong Kong singers – there is one of Faye Wong , another of Sammi Cheng Sau-man – and towards the back is a DJ set-up with dozens of Cantopop and Mandopop vinyl records and CDs. New York cocktail bar 929's walls are decorated with posters of various Cantopop singers, and the soft, red lighting is reminiscent of scenes in Wong Kar-wai films. Photo: 929 They are all from the personal collection of Chen Haoran, who founded 929 with architect Sean Yang and restaurateur Jeff Liu. Advertisement Chen Haoran, who is originally from Jiangmen in China's Guangdong province, recalls listening to his mother's favourite records as a child, which led him to amass his own collection of Cantopop and Mandopop albums, especially after moving to New York when he was 11.
New Straits Times
21-04-2025
- Business
- New Straits Times
Palm falls on firmer ringgit, weak soyoil, crude oil
KUALA LUMPUR: Malaysian palm oil futures fell on Monday for the sixth straight session, as weakness in soyoil and crude oil and a stronger ringgit pressured the market, with US tariff concerns also fuelling the downturn. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 46 ringgit, or 1.16 per cent, to RM3,929 ($895.80) a metric ton at the midday break. Crude palm oil futures eased on weaker soybean oil and crude oil, reflecting the negative global sentiment stemming from the U.S tariff policies, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. "A stronger ringgit is also seen as a weighing factor on prices." Dalian's most-active soyoil contract fell 0.41 per cent, while its palm oil contract shed 1.4 per cent. Soyoil prices on the Chicago Board of Trade dropped 0.12 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Cargo surveyor Intertek Testing Services estimated exports of Malaysian palm oil products to have risen 11.9 per cent during April 1-20, while AmSpec Agri Malaysia's estimate will be released later in the day. Oil fell more than 1.5 per cent as investors once again focused on concerns that US tariffs on trading partners will create economic headwinds that will reduce fuel demand growth. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, strengthened 0.54 per cent against the dollar, making the commodity more expensive for buyers holding foreign currencies. Palm oil may keep falling into the RM3,875-RM3,929 per metric ton range as suggested by a projection analysis, Reuters technical analyst Wang Tao said.
CairoScene
13-02-2025
- Business
- CairoScene
Korba-born Café Nine Two Nine is setting Shop in Nasr City
A new cozy spot to work remotely (ask your coworkers what you're really missing at the office). Feb 13, 2025 929 - the cool and collected Korba-born café - is now open in Nasr City. No more lifeless lattes or cappuccinos that taste like regret. Expect dangerously smooth specialty coffee, desserts that demand a moment of silence, and a space that makes you feel like you have your life together (even if it's just for the duration of your flat white). Whether you're here to power through emails, spill unfiltered tea with friends, or master the fine art of doing absolutely nothing—929 is your new third place. So, grab your laptop (or just pretend to be productive), throw on an effortlessly put-together look (even if you just rolled out of bed), and let 929 Nasr City do the rest.
