Zhongzhi Enterprise Group: Chinese shadow bank files for bankruptcy

Bankrupt regional sports network Diamond Sports got a few extra innings to work out a streaming deal with Amazon after a bankruptcy judge delayed the embattled company’s showdown with Major League Baseball. The nation’s largest RSN, which operates under the Bally’s name, owns the broadcast rights to half the NBA teams, a third of NHL…

The firm’s founder has earned more than £1bn over four years but campaigners say it is not “fair”.

The United Auto Workers union announced Wednesday that its nearly four-week strike against the “Big Three” automakers was expanding to Ford’s truck plant in Kentucky. Roughly 8,700 union members work at the Louisville facility producing the company’s Super Duty trucks as well as the Ford Expedition and Lincoln Navigator SUVs. The walkout Wednesday marks the…

The country’s soaring national debt — which recently surpassed a record-high $34 trillion — is akin to a “boiling frog” for the economy and Wall Street investors, a senior analyst at JPMorgan Chase warned. Michael Cembalest, who runs JPMorgan’s market and investment strategy unit in the bank’s asset management division, predicted dire consequences for the…

Earlier this month, the IFAT asked India’s largest services for food delivery and ride-hailing, including Zomato, Swiggy, Ola, and Dunzo, to allow gig workers to do their jobs without having the contact tracing app on their phones, a rule that the platforms imposed shortly after the national government launched Aarogya Setu in early April. “Nobody…

These days, it looks like the bloom is coming off the rose for remote work: Many employers are talking tougher. New research shows employees are actually less productive when they work from home full-time. And, with the tight job market starting to slacken, some predict 2024 will be the year employers finally clamp down. But…