Business

The chief executive officer of the company that owns the majority of IKEA’s stores told Reuters that price reductions and promotional campaigns that the budget furniture giant normally does not conduct have increased foot traffic and sales. The company is attempting to offset weak consumer confidence by reducing prices and implementing promotional campaigns that it normally does not employ. Cost …

Monday, February 13 marks the debut of an artificial intelligence (AI) chip by South Korean company Rebellions Inc, which is competing for government contracts as Seoul seeks a position for local firms in the expanding AI market. The company’s ATOM processor is the most recent Korean effort to challenge global leader Nvidia Corp in the hardware that drives potentially transformative …

Grab argued that the addition of 100,000 transport network vehicle services (TNVS) providers would not result in an overstock, considering that demand had occasionally surpassed pre-pandemic levels. Grab Philippines senior director of operations Ronald Roda stated in a statement released on Friday, February 10: “We believe that the number of slots needed to meet demand in 2023 for new and …

Experts have proposed strategies to alleviate the severe consequences of climate change throughout the previous decade. Through the recently conducted “United for Climate: Sustainability Forum PH 2022” at the Conrad Manila, SM Investments Corporation and WWF Philippines teamed forces to inspire a more ambitious and coordinated climate response among the business sector. The SM Group’s climate position acknowledges climate change …

The Philippine Department of Migrant Employees (DMW) announced on February 9 that more than 80 Japanese firms are eager to engage more Filipino workers due to their “great work ethic and nice temperament.” As part of President Ferdinand Marcos Jr.’s “formal working visit” to Japan, which began on Wednesday, February 8, Migrant Workers Secretary Susan Ople met with Japanese employers …

On Monday, February 6, image-sharing site Pinterest Inc reported quarterly revenue below expectations, joining competitors Alphabet and Snap in sounding the alarm on a still-weak ad market. Shares of the business, which forecasted a modest increase in revenue for the first quarter, pared losses and were down 3% in extended trade after plummeting 15%. High inflation and aggressive interest rate …

The school dropout who became one of the world’s wealthiest men, India’s Gautam Adani, suffered a surprise loss when his flagship firm canceled a blockbuster share sale in response to an assault by a small US investment firm over his business practices. The decision was made after Adani’s enterprises lost about $86 billion on the stock market as investors fled …

Apple predicted on Thursday, February 2, that revenue would decline for a second consecutive quarter, but that iPhone sales would likely increase as production in China returned to normal following COVID-related shutdowns. While expressing optimism over sales of services and iPhones, Tim Cook, CEO of Apple, predicted that an uncertain economy would negatively impact gaming and digital advertising. Apple’s management …

On Saturday, February 4, only, the Japan Home Centre (JHC) in the Philippines will take the rare and pricey sibuya (onion) as payment for select in-store purchases. In a Facebook post published on February 2, the retailer announced the launch of its first “pay with sibuyas” promotion, in which they will accept one onion in return for the customer’s desired …

According to a report by Bloomberg News on Wednesday, February 1, Pinterest Inc. will lay off approximately 150 employees, which accounts for less than 5% of the company’s total workforce. In doing so, Pinterest will join a flurry of other technology companies that are firing workers in order to cut costs. According to the story, which cited an individual who …