Nigerian state programs

When you cannot sue your employer

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IMAGINE wanting to sue your employer, because you have been harassed or discriminated against, only to find that your access to the courts is blocked. It turns out you signed away your right to use the judicial system when you started the job: somewhere, hidden in the documents that came with your employment contract, was a clause obliging you to resolve future disputes through private arbitration, rather than in court.An increasing number of American employees find themselves in this situation. Over half of non-unionised employees are covered by arbitration requirements, estimates Alexander Colvin of Cornell University, based on a survey in 2017 of 627 private-sector workplaces. Such agreements have come under greater scrutiny after the wave of workplace sexual-harassment revelations last...

Qualcomm is fined for anti-competitive practices—again

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THE tech industry hardly needs another reminder that trustbusters are on its case. But the European Commission is always happy to oblige. On January 24th Europe’s executive body slapped a penalty of €1bn ($1.2bn) on Qualcomm, one of the world’s largest chip-designers, for abusing its dominance in baseband processors, a critical component in mobile phones.Large fines are becoming something of a habit for Qualcomm, which will have paid out nearly $1bn a year, on average, to trustbusters the world over since 2015. This week’s penalty, which amounts to nearly 5% of the company’s global annual revenue, is a reflection of what Margrethe Vestager, the European competition commissioner, described as its “very illegal behaviour” between 2011 and 2016. During that time, according to Ms Vestager, the

The buck drops here

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THERE may have been a "Trump bump" in the stockmarket but the opposite has been true in currency markets. The dollar has steadily weakened and the administration does not seem too concerned about it. Steven Mnuchin, the Treasury secretary, said this week thatObviously a weaker dollar is good for us as it relates to trade and opportunitiesHe qualified his remarks by saying a strong dollar reflects a strong US economy. Leaving aside his clear confusion (so does the dollar's weakness mean the US economy is weak?), it is rare for any Treasury secretary to welcome a fall in the greenback.Paul O'Neill, who held the position under George W Bush, declared thatI believe in a strong dollar, and if I decide to to shift that stance I will hire out the Yankee Stadium and some rousing brass bands, and a...

Rémy Cointreau nine months results bolstered by robust Cognac sales in Asia Pacific

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Rémy Cointreau Group on Friday reported a 3% revenue growth for the first nine months of its 2017/18 financial year ending in December. Sales rose to €862.1 million from €836.7 million, helped by robust growth of its Rémy Martin cognac brand which posted a 7.9% growth to €576.6m, contributing 67% of the overall group’s sales. The group benefitted from continued growth of the Rémy Martin cognac brands in the Asia Pacific region, despite a high basis of comparison in the third quarter and the late timing of 2018 Chinese New Year (sales delayed to the fourth quarter). The Chinese New Year starts on February 16 this year, delaying its positive impact on sales to Remy Cointreau’s fourth quarter. The French-based spirits firm also got some help from strong demand for its cognac brands in the Uni

Coca-Cola commits to 100% recycled packaging by 2030

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Soft drinks giant Coca-Cola announced on Friday an ambitious goal to recycle every bottle or can it produces by 2030. The firm which operates in over 200 countries and markets more than 500 brands of soft drinks, juices, water and tea admitted its part in littering the environment and a responsibility to tackle the problem. In a statement released by the company’s chief executive officer, James Quincey, he said “The world has a packaging problem and, like all companies, we have a responsibility to help solve it,” he said. Coca-Cola called its new campaign “World Without Waste,” and through it “we are investing in our planet and our packaging to help make this problem a thing of the past,” he said. Coke said it is also working to reduce waste by using an average of 50% recycled content in i