Federal Reserve Governor Christopher Waller said it’s not clear that recent banking strains will lead to significantly tighter

Western Australia’s grain association has cut its forecast for the state’s wheat production again due to hot weather,

By Stella Qiu SYDNEY The outgoing head of Australia's central bank called on Thursday for a lift in

WHIPPANY, N.J.--(BUSINESS WIRE)--Aug 21, 2023--

BERLIN The German economy is expected to shrink by 0.3% this year, as a loss in purchasing power

By Indradip Ghosh and Shaloo Shrivastava BENGALURU The U.S. dollar will hold its ground against most major currencies

US Treasury Secretary Janet Yellen begins a full day of meetings in Beijing on Friday, with strained US-China ties, American businesses' concerns and the global...

By Jorge Otaola BUENOS AIRES Argentina's annual inflation rate topped 114% in May, but in a silver lining

Zoom CEO Eric Yuan told staff an all-hands meeting earlier this month that he wants employees to return to in-person work because Zoom is making them too “friendly” and unable to build trust. “Over the past several years, we’ve hired so many new ‘Zoomies’ that it’s really hard to build trust,” Mr Yuan says in the audio, which was obtained and first reported by Insider. “We cannot have a great conversation. We cannot debate each other well because everyone tends to be very friendly when you join a Zoom call.” Mr Yuan’s thoughts were accompanied by action: On 3 August, Zoom instituted a new policy requiring employees who live within 50 miles of a physical Zoom office to report to work at least two days per week. The return to the office policy at Zoom is striking considering that it was the Covid-19 pandemic and resulting stay-at-home orders that turned the platform from one few people had ever heard of to a part of everyday life for millions. But Mr Yuan is not alone among senior executives at tech firms. Apple, Meta, and Amazon have all instituted return-to-work policies in recent months, angering employees who have enjoyed the increased flexibility afforded by work-from-home policies. Since Covid-19 vaccines have facilitated the re-opening of the economy, workers and bosses in many sectors have clashed over the importance of in-person work and the ability of companies to exercise control over their employees whereabouts and schedules. Some, like Zoom and a number of other tech companies, have adopted hybrid policies in which workers are required to come into the office on certain days of the week but are allowed to work from home on others. But even those companies have faced backlash from workers, many of whom were hired at a different stage of the pandemic when most or all work at their respective companies was being conducted remotely. Mr Yuan’s comments, which were not meant for public consumption, may provide a measure of insight into how he and other top executives truly feel about Zoom and remote work more broadly — suggesting that it somehow limits innovation by not allowing for the sometimes uncomfortable kinds of interactions that can build trust. Mr Yuan, who was born and raised in China, moved to Silicon Valley during the late 1990s. He founded Zoom more than a decade ago and became a multibillionaire during the pandemic. Read More Maui residents are still reeling from wildfire devastation. Now investors and realtors are trying to cash in

By Sam Nussey and Miho Uranaka TOKYO Japanese robot maker Yaskawa Electric is considering investing around $200 million

New York is bidding to put new controls on social media platforms that state leaders say will protect the mental health of younger users

Chelsea have agreed a resolution with UEFA that will see them hand over 10million euros (£8.57million) after owning up to “incomplete financial reporting” under the Roman Abramovich regime. A new ownership group led by Todd Boehly and Clearlake Capital completed their takeover of the club in May last year from Abramovich, who was sanctioned over his links to Russia president Vladimir Putin. UEFA, which has also banned Juventus from competing in the Europa Conference League this season due to financial irregularities, confirmed it was approached “proactively” by the Boehly-led consortium. They detected instances of partial financial information being submitted in historical transactions occurring between 2012 and 2019, breaching UEFA Club Licensing and Financial Fair Play regulations. A UEFA statement said: “Following its assessment, including the applicable statute of limitations, the CFCB (Club Financial Control Body) First Chamber entered into a settlement agreement with the club which has agreed to pay a financial contribution of 10million euros to fully resolve the reported matters.” The sanction represents another blow for Chelsea’s current owners after a disappointing first year at the helm, with the club’s 12th-place finish in the Premier League last term their worst since 1993-94. Chelsea have forked out around £600million in transfers since Boehly’s arrival, while former Tottenham boss Mauricio Pochettino has been tasked with turning around their on-pitch fortunes. Chelsea said in a statement the owners became aware of potential impropriety when carrying out a “thorough due diligence process” prior to the purchase and, upon completion of the takeover, they reported this to UEFA. The statement added: “In accordance with the club’s ownership group’s core principles of full compliance and transparency with its regulators, we are grateful that this case has been concluded by proactive disclosure of information to UEFA and a settlement that fully resolves the reported matters. “We wish to place on record our gratitude to UEFA for its consideration of this matter. Chelsea greatly values its relationship with UEFA and looks forward to building on that relationship in the years to come.” Juventus have also been reprimanded after a separate UEFA investigation and as well as throwing the Italian giants out of European football, they have been fined 20million euros (£17.14m). However, half of that fine has been suspended and Juventus will only have to pay if their financial records for the next three years do not comply with the accounting requirements. Juventus – who were docked 10 points last season over their past transfer dealings, effectively ending their hopes of Champions League qualification – were found to have violated the framework of a settlement agreement with UEFA in August last year. Juventus president Gianluca Ferrero said in a statement on the club’s website: “We regret the decision of the UEFA Club Financial Control Body. “We do not share the interpretation that has been given of our defence and we remain firmly convinced of the legitimacy of our actions and the validity of our arguments. “However, we have decided not to appeal this judgement. Despite this painful decision, we can now face the new season by focusing on the field and not on the courts.”