Business

Tesla is set to open its first European Gigafactory near Berlin, Brandenburg, creating over 6,000 job opportunities. The 300-hectare property will allow Tesla to use the prestigious "Made in Germany" label, with local authorities and government officials welcoming the automotive company's strategic expansion.

Following the Taal Volcano's recent eruption, Philippine authorities have allowed businesses in Tagaytay to reopen. As of January 20, 59 tourism and non-tourism establishments, including restaurants, hotels, and shopping centers, have resumed operations after securing necessary permits and safety clearances.

Philippine fast-food giant Jollibee Foods Corporation successfully raised $600 million through its first perpetual securities issuance, aiming to support global expansion and replenish recent acquisition costs, including The Coffee Bean and Tea Leaf purchase.

Toyota has invested $394 million in Joby Aviation, a California-based aerospace company developing an all-electric vertical takeoff and landing (VTOL) aircraft. The six-rotor, five-seat flying taxi represents Toyota's strategic move into aerial transportation, aiming to revolutionize mobility and customer movement.

Hong Kong's flagship airline Cathay Pacific is offering up to one month of unpaid leave to its 27,000 employees, particularly affecting pilots and cabin crew, due to reduced flight schedules and passenger boycotts during ongoing pro-democracy protests.

eMarketer reports Pinterest grew by over 9% in 2019, reaching 82.4 million US users and overtaking Snapchat. The platform's universal appeal across different age groups has been a key factor in its growth, positioning it as a popular virtual bulletin board for image-centric content.

Amazon has reinstated FedEx ground and home delivery services for its third-party sellers after temporarily suspending the courier during the 2019 holiday season. The decision comes after FedEx reportedly met delivery requirements, with both companies expressing optimism about resuming their partnership and serving mutual customers.

Tesco's $10bn sale of over 2,000 stores in Thailand and Malaysia could be complicated by Thai government regulations. The Trade Competition Commission warns that winning bidders must secure authorization if they might control more than 50% of the retail market.

US President Trump and China's Vice Premier Liu He finalize a "phase one" trade agreement after two years of negotiations. The deal includes China's commitment to buy $200 billion in US goods and addresses intellectual property protections.

The Philippine government has imposed a total ban on sending overseas workers to Iraq following escalating tensions in the Middle East. Labor Secretary Silvestre Bello III signed a resolution stopping all worker deployments, while the Department of Foreign Affairs ordered mandatory repatriation of Filipino workers in the country.