Author: i2wtc
In the message to employees Thursday, Niccol said the company had reviewed and identified stores where the company would be “unable to to create the physical environment our customers and partners expect, or where we don’t see a path to financial performance.”Starbucks executives had previously said that the company would be slowing new openings in favor of remodeling existing locations this year. The renovated cafes are meant to encourage customers to linger, taking the coffee chain back to its roots as a “third place” for consumers, outside of home and the office.Baristas from closing locations will be transferred to nearby…
LAHORE: The Pakistan Peoples Party (PPP) and the Pakistan Muslim League-Nawaz (PML) on Wednesday renewed their verbal spat over the use of the Benazir Income Support Programme (BISP) for providing support to the flood-affected people in Punjab. The PPP has long been advocating the proposal that the BISP would be most suitable way to support the flood victims, however, the Punjab government, led by the PML-N, is averse to the idea. The provincial government insists that the government’s flood relief efforts were going on well. The BISP is a national programme to provide cash assistance to poor and vulnerable families,…
The U.S. Capitol in Washington, D.C., is seen on a cloudy and foggy morning, March 6, 2024.Kevin Dietsch | Getty ImagesThe White House warned federal agencies to prepare for mass firings if Congress does not reach a deal to fund the government before next Wednesday.A memo released Wednesday by the Office of Management and Budget told agencies whose funding expires Oct. 1 — and which do not have alternative funding sources and are “not consistent with the President’s priorities” — to consider issuing reduction-in-force notices for employees.The warning ratchets up the pressure on Congress to strike a deal to avert…
Databricks co-founder and CEO Ali Ghodsi.DatabricksOpenAI and Databricks are two of the most highly valued tech startups on the planet. Now they’re working together.Databricks, a data analytics software vendor, said Thursday that it has committed to spending $100 million over multiple years with OpenAI. Databricks is making it easier for customers to connect their data stored in its cloud service with GPT-5, announced in August, and other OpenAI models.OpenAI, which was recently valued by private investors at $500 billion, has become a household name in the years since the launch of its ChatGPT in late 2022. In partnering with Databricks,…
KARACHI: Diamond sets and a drone light show at a near-million-dollar wedding have become evidence for Pakistan’s tax authorities under a new “Lifestyle Monitoring Cell” tasked with scanning social media for lavish spenders, officials said. A team of 40 investigators from the country’s Federal Board of Revenue (FBR) has started scouring Instagram, TikTok and YouTube posts this week, to match influencers, celebrities, realtors and businesspeople with disproportionate filings. “It’s open-source – their Instagram accounts are a public declaration,” one senior FBR official said, adding tax evasion cases can be opened in a matter of hours. The FBR did not respond…
Thomas Lohnes | Getty ImagesThe European Commission launched an antitrust probe into German software behemoth SAP on Thursday, citing concerns about the company’s practices in software support services.According to the Commission, the investigation will assess “whether SAP may have distorted competition in the aftermarket for maintenance and support services related to an on-premises type of software, licensed by SAP, used for the management of companies’ business operations.”SAP, in a statement on Thursday, said it believed its policies and actions were fully compliant with EU competition rules.”However, we take the issues raised seriously and we are working closely with the EU Commission to…
Working late, office buildings, Financial District, London.Travelpix Ltd | Stone | Getty ImagesA version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.The recovery in the U.S. office market has been gaining steam this year and may be set to accelerate. While vacancy rates and return-to-office employee volume have been focal points in gauging demand, a new look at…
NEW YORK: Iranian President Masoud Pezeshkian on Wednesday welcomed the defence pact between Pakistan and Saudi Arabia, in his speech at the United Nations General Assembly, and stressed that his country never sought to build a nuclear bomb and would not do so in the future. Pezeshkian slammed Israel and the United States in the same sentence, holding both responsible for the killings and forced starvation of children in Gaza and violation of sovereignty of many regional countries, asking who in reality posed a threat to regional and global stability. According to Irna, Tehran’s official news agency, Pezeshkian welcomed the…
India secured their place in the men’s Asia Cup final on Wednesday as Abhishek Sharma starred with 75 in a 41-run win over Bangladesh in Dubai. The holders posted 168-6 batting first after stumbling following a quick start, but their spinners helped stifle Bangladesh to 127 all out. The result means Sri Lanka are out of the tournament, with Thursday’s Super Four match between Pakistan and Bangladesh to decide who faces India in Sunday’s final. Abhishek has enjoyed a remarkable start to his T20 international career with 783 runs from 22 matches at a strike-rate of 197.72. The opener set…
LAHORE: Weeks after the deluge first struck, villages in Jalalpur Pirwala, Multan district, remain marooned by floodwaters. Hundreds of houses have collapsed into rubble while thousands of acres of crops lie ruined. Wheat and rice fields are rotting, mud homes have crumbled, and displaced families, stripped of shelter, are now surviving in tents. Local elder Muhammad Jameel recalled how his home and grain stores were swallowed by the waters: “All the food we saved after years of toil has been ruined.” Another villager, Taj Din, his eyes brimming with tears, said: “We will rebuild our houses, but for God’s sake,…