YouTube takes on TikTok with clone, launches ’Shorts’ starting with India
In an attempt to compete with Chinese company ByteDance’s TikTok, YouTube has launched a short-form video platform called ’YouTube Shorts’. The company, which is owned by Google’s parent company Alphabet, said the new platform will allow users to upload videos that are 15 seconds or less using a set of features that closely mimic TikTok. The platform is now available in India.
Former Nissan executive Kelly’s trial begins in Tokyo without co-accused Ghosn
Former Nissan Motor executive Kelly has refuted charges of helping Ghosn in hiding income in his trial which began in Tokyo almost two years after their arrest. However Kelly, has been on bail in Japan since his release from jail in 2018, and conveyed his plea to the court without co-accused Ghosn, who escaped to Lebanon in Dec. Mr.Kelly is charged with aiding Ghosn hide 9.3bn yen in compensation.
U. S. Blocks specific imports from China
The U.S. on Monday blocked imports from four companies and a manufacturing facility in northwestern China suspected of using forced labor from people detained as part of a sweeping crackdown on ethnic minorities in the region.
UK employment declines in August as payrolls fall, unemployment rate surges
As per the ONS, the UK unemployment rate went higher to 4.1% from 3.9% in the three months to July. Payrolls employee decreased by ~695,000 compared with March. In August, payrolls fell by 36,000. The ONS said 5mn people were temporarily away from work in July 2020, with ~2.5mn of these being away for three months or more. Of those away ~four-fifths were earning half or more of their salary.
Amazon to add another 100,000 people to maintain the pandemic induced momentum
Amazon, on back of strong sales amid Covid-19, is hiring 100,000 people in US & Canada. The positions include full and part-time at 100 new sites which include fulfillment centers, delivery stations, and sortation centers. This comes on back of its previous announcement of 100,000 in Mar and 75,000 in Apr, while in beginning of Sept, Amazon opened up 33,000 jobs in its corporate & tech divisions.
UK and EU car makers warn of no-deal Brexit disaster
Car makers in the UK and EU have warned a no-deal Brexit could put a £100B dent in the region’s car industry over the next five years. A letter signed by 23 trade groups across Europe warned that without a deal there will be a ’catastrophic’ rise in tariffs, which could prove detrimental for an industry already weighed down by COVID-19 woes.
