Wednesday, March 4

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Meta fires employees for spending food allowances on acne pads and wine glasses
World News

Meta fires employees for spending food allowances on acne pads and wine glasses

By Clare Duffy of CNN Meta owns Facebook, Instagram, WhatsApp among other services. Photo: Victor Okhrimets / 123RF Meta fired around two dozen employees from its Los Angeles office for misusing company meal credits for things like laundry detergent, wine glasses and acne treatment pads, a source familiar with the company confirmed to CNN. Many of the social media giant's corporate offices feature elaborate food services to provide employees with meals as a perk. Meta's two-year-old office near New York City's Penn Station, for example, features a cafeteria that feels like an upscale food court, with various stalls all free for staff. But for employees at smaller offices without food services, the company provides meal vouchers - $20 for breakfast and $25 each for lunch and dinner - ...
Intel seeks billions for minority stake in Altera business, sources say
Business

Intel seeks billions for minority stake in Altera business, sources say

Pat Gelsinger, CEO, of Intel Corporation, testifies during the Senate Commerce, Science, and Transportation hearing on semiconductors titled Developing Next Generation Technology for Innovation, in Russell Senate Office Building on Wednesday, March 23, 2022.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesIntel is looking to sell at least a minority stake in its Altera unit in a transaction that would raise several billion dollars in cash for the struggling chipmaker, according to people familiar with the matter.Intel is looking for a deal that values Altera at around $17 billion, said the people, who requested anonymity to speak freely about confidential information. Intel purchased Altera for $16.7 billion in 2015.Following a steep drop in its stock price and extended stretch of market sh...
One Direction bandmates ‘completely devastated’ by Liam Payne’s death
World News

One Direction bandmates ‘completely devastated’ by Liam Payne’s death

By Danielle Broadway, Reuters (From left) Louis Tomlinson, Niall Horan, Zayn Malik, Liam Payne and Harry Styles attend the New York premiere of "One Direction: This Is Us" at the Ziegfeld Theater on August 26, 2013 in New York City. Photo: Larry Busacca/Getty Images/AFP Liam Payne's One Direction bandmates say they are "completely devastated" by the news of his death. Payne, who shot to global fame with boy band One Direction, died at the age of 31 after falling from a third-floor hotel room balcony in Buenos Aires, triggering an outpouring of tributes from fans around the world. In a joint statement signed by singers Harry Styles, Louis Tomlinson, Zayn Malik and Niall Horan, they said: "In time, and when everyone is able to, there will be more to say. But for now, we will take some ...
China reports third-quarter GDP growth of 4.6%, slightly beating expectations
Business

China reports third-quarter GDP growth of 4.6%, slightly beating expectations

China has announced in the past week a series of measures aimed at boosting its economy ahead of a key Politburo meeting later this week focused on reviewing the first half performance of the world's second-largest economy.Str | Afp | Getty ImagesChina's National Bureau of Statistics on Friday reported third-quarter GDP growth of 4.6% year on year, slightly exceeding the 4.5% expected by economists polled by Reuters.That's less than the second-quarter growth of 4.7% year on year. On a quarterly basis, the third quarter saw 0.9% expansion, compared to 0.7% in the second quarter."The national economy showed positive signs of growth in September," Sheng Laiyun, the bureau's deputy commissioner, said at the press conference, according to CNBC's translation of the Chinese. "The confidence is bu...
Children as young as 10 to be jailed in Australia’s Northern Territory
World News

Children as young as 10 to be jailed in Australia’s Northern Territory

Photo: 123RF By Annabel Bowles, the ABC Australia's Northern Territory has passed new laws that lower the age of criminal responsibility to 10, about two years after the previous government raised the age to 12. It comes a day after the Country Liberal Party government pushed through tougher bail legislation and extra powers for police as part of a suite of law and order changes. Australia's Northern Territory has lowered the age of criminal responsibility to 10 years old, during the new government's first week of parliament sittings. The Country Liberal Party government used its 17-member majority to push through the legislation late Thursday night, while seven from the opposition and crossbench voted against the move. It comes about two years after the previous Labor government raise...
China reports better-than-expected retail sales and industrial production data
Business

China reports better-than-expected retail sales and industrial production data

Customers shop at the new store of Costco on May 28, 2024 in Nanjing, Jiangsu Province of China.Vcg | Visual China Group | Getty ImagesChina on Friday reported better-than-expected retail sales and industrial production for September.Retail sales grew 3.2% from a year ago, better than the 2.5% growth estimated by analysts in an LSEG poll, the National Bureau of Statistics said. Sales rose at a faster clip than last month's 2.1% growth.Meanwhile, industrial production expanded 5.4% in September from a year ago, more than the 4.5% expected by analysts.From January through September, fixed asset investment grew 3.4% from a year ago.China also reported an urban unemployment rate of 5.1% in September, down 0.2 percentage point from the previous month.While there are some encouraging signs, "it ...
The Office Australia is here – how does it compare to the UK and US?
World News

The Office Australia is here – how does it compare to the UK and US?

Review - Australia's take on the beloved mockumentary sitcom The Office brings us to the Sydney branch of Flinley Craddick, a small packaging company on the brink of being shut down under some real post-2020 circumstances. We follow the branch's regional manager Hannah Howard (Felicity Ward) - the franchise's first ever female lead - as she scrambles to keep her office running with deranged promises and workplace schemes. Hannah Howard (Felicity Ward) is hell-bent on keeping her "work family" together, even if it means lying about false orders to work from the office and subjecting everyone to TGIF Fridays. Photo: JOHN PLATT Howard is hell-bent on keeping her "work family" together, even if it means lying about false orders to work from the office and subjecting everyone to TGIF Frid...
Netflix (NFLX) earnings Q3 2024
Business

Netflix (NFLX) earnings Q3 2024

Nurphoto | Nurphoto | Getty ImagesLOS ANGELES — Netflix posted third-quarter earnings Thursday that beat on the top and bottom lines as its advertising business continued to grow.The streamer's ad-tier memberships jumped 35% quarter over quarter. The company is on track to launch the service in Canada in the coming quarter and more broadly in 2025.While Netflix does not expect advertising to become a primary growth driver until 2026, it noted that the ad-tier accounted for more than 50% of sign-ups during the third-quarter in countries where it is available.Shares rose about 5% in aftermarket trading.Here's what Netflix reported for the period that ended Sept. 30:Earnings per share: $5.40 vs. $5.12 expected by LSEGRevenue: $9.83 billion vs. $9.77 billion expected by LSEGPaid memberships: 2...
Miss Universe Fiji controversy ends with Manshika Prasad crowned winner
World News

Miss Universe Fiji controversy ends with Manshika Prasad crowned winner

After six weeks of confusion and online furore the official Miss Universe Organisation have named Manshika Prasad the winner. Photo: Asvin Singh After weeks of confusion, online furore and official pageant investigations, the winner of Miss Universe Fiji has officially been crowned. Manshika Prasad, a 24-year-old MBA student, was adorned with her tiara and winner's sash on stage at Fiji's Pearl Resort and Spa at the start of September. But two days after her win at Fiji's first Miss Universe pageant in more than 40 years, Miss Universe Fiji said a "breach of protocol" had occurred, and later announced "runner up" Nadine Roberts as the real winner, a 30-year-old model and property developer originally from the Gold Coast whose mother is Fijian. Manshika Prasad (middle) has had her thr...
AWS CEO says employees unhappy with 5-day office mandate can leave
Business

AWS CEO says employees unhappy with 5-day office mandate can leave

Amazon Web Services CEO, Matt Garman speaks during CNBC Power Lunch on July 1, 2024.CNBCAmazon's cloud boss on Thursday gave employees a frank message about the company's recently announced five-day in-office mandate.Staffers who don't agree with Amazon's new policy can leave, Amazon Web Services CEO Matt Garman said during an all-hands meeting at the company's second headquarters in Arlington, Virginia."If there are people who just don't work well in that environment and don't want to, that's OK, there are other companies around," Garman said, according to a transcript viewed by CNBC. "At Amazon, we want to be in an environment where we are working together, and we feel that collaborative environment is incredibly important for our innovation and for our culture."Amazon has observed that ...