Swedish multinational automobile manufacturing company, Volvo Cars, has reportedly announced that it plans to provide paternity leave across its global workforce of 40,000, from next week. Under this new policy, the company is going to provide all its employees at least 24 weeks of parental leave irrespective of gender or location covering, 80% of their base pay. According to the carmaker, which is owned by China’s Zhejiang Geely Holding Group Co., this new policy has been inspired by the parental rights that are practiced in Sweden, wherein the government compensates
Leading supermarket chain, Asda, has reportedly announced to the it is removing plastic bags from all fruit and vegetable aisles across its 630 nationwide stores as a part of company efforts towards effective waste management. According to reports, this move would eliminate over 100 million pieces of plastic from the supermarket shelves annually. The initiative would also bring into effect measures such as asking customers to buy a bag or bring their own bags. Under this new initiative, the supermarket will provide reusable bags produced
Amidst the closure of shops by various High Street brands that were hit hard by the rolling lockdowns, British chocolate brand Thorntons has reportedly announced that it intends to shut all of its 61 store locations. This decision is expected to put over 600 jobs at risk. According to the company, it had been severely impacted by the COVID-19 pandemic, which led to the closure of its stores in crucial holiday period during Christmas and Easter. Commenting on the move, retail director of Thorntons, Adam Goddard stated that the company has
Las Vegas Sands, established by Sheldon Adelson, the late casino mogul, has reportedly announced that it is effectively selling its Las Vegas-based properties under a $6.25 billion deal and shifting focus towards another venture. With this deal, the casino brand would be taking its leave from the renowned U.S. gambling hot spot to effectively focus on Asia, which is home to Singapore, as well as the largest gambling hub in the world, Macau. As per reports, in a rebranding caused by its exit from Las Vegas, Las Vegas Sands would also be shortening its brand name to Sands. In
Renowned South Korean cosmetics brand, Clio Cosmetics, has reportedly taken down all promotional content featuring K-pop band Stray Kids from its platform and has also revoked the boy group’s status as its brand ambassador following recent allegations that accused one of the band members of bullying. For the uninitiated, Stray Kids was selected as the face of Clio’s new advertising campaign in early February of 2021. The group members were reportedly named as Clio's 2021 male models after the company’s contract with Kim Woo Seok, its previous brand amba
In its recent virtual event “Stream On”, leading subscription music service, Spotify, has reportedly announced plans to launch Spotify HiFi, a new lossless streaming tier which will allow its users to make most out of their digital music library. However, the company has apparently taken longer to offer this feature than its competitors such as Amazon Music and Tidal.   It has been reported that users will be able to avail Spotify HiFi later this year. It will provide the music in CD-quality and lossless audio format to users’ device as well as Spotify
Renowned high-end departmental stores brand, John Lewis Partnership, has reportedly announced plans to shut down eight of its stores out of the 42 remaining ones, with larger older shops likely to close permanently. The company’s chairwoman Dame Sharon White has apparently initiated the closure as a part of company efforts to cut further costs after it suffered a loss of £635 million last September. It has been reported that the department store is anticipated to close one fifth of its 42 remaining stores, with ongoing negotiations with landlords and hundreds of
Owner of prominent cigarette brands such as Lucky Strike, Camel, and Pall Mall has reportedly registered an appreciable rise in profits of around 9%, regardless of a decline in sales caused by the coronavirus pandemic. The British American Tobacco (BAT), in this regard, stated that overall cigarette sales reduced by around 5% last year, majorly due to travel restrictions which severely hit the duty-free trade along with the sales ban enforced in South Africa on account of Covid-19 pandemic. However, with rise in prices, the total value of cigarettes sold increased.
Toyota, the leading Japanese automobile manufacturer, has reportedly announced that the company’s 2021 Camry four-cylinder model would be scoring a considerable power boost and a completely new automatic transmission gearbox when the vehicle’s facelifted model makes landfall in Australia in the upcoming months. Documents from the Australian government supposedly reveal that the new facelifted, non-hybrid Camry's naturally-aspirated 2.5-litre four-cylinder petrol-powered engine would develop more than 152kW of power, a jump of approximately 19kW from the 133kW