Corporate Watch

Published October 20, 2016

Facebook adds food ordering feature

NEW YORK: Facebook Inc said users in the United States would be able to order food through the Facebook pages of restaurants starting on Wednesday as part of its efforts to connect users and businesses.

Users will also be able to get quotes from businesses, buy movie tickets and book appointments at spas and salons, Facebook said in a blog post.

Earlier this month, Facebook launched “Marketplace”, a platform that allows people to buy and sell items locally.—Reuters

Starbucks plans to double stores in China

NEW YORK: Starbucks is pushing ahead with its expansion into China and said Wednesday that it is on track to having 5,000 stores there by 2021, more than doubling the number of coffee shops it currently has in the country.

The coffee chain is looking to China to fuel the company’s growth. Starbucks CEO Howard Schultz has said that China could one day surpass the US as its largest market. Starbucks Corp., which is based in Seattle, has about 13,000 stores in the US.—AP

ABAD elects regional chairman

KARACHI: The Association of Builders and Developers of Pakistan (ABAD) elected Mohammad Ayub as chairman southern region for 2016-17, said a press release.

Admore Gas starts loan settlement

KARACHI: Admore Gas Private Limited (AGPL) has begun the process of restructuring inherited loans.

The previous management had defaulted on the loan facility of Rs300 million in 2007 from First Dawood Investment Bank Limited (FDIBL).

AGPL Chief Executive Officer Nadeem Jafarey said the said liability of the bank was shifted in part to respective institutions including Rs105m to National Industrial Parks Development (NIPD).

Out of the facility of Rs300m, AGPL has already re-paid the significant balance to other institutions and completely paid off the balance repayable to FDIBL.

Landowners, Exxon Mobil attorneys spar

ST PAUL: Attorneys for landowners along a crude oil pipeline that ruptured in Arkansas in 2013 say Exxon Mobil Pipeline Co breached its contract because the pipeline interferes with their ability to enjoy their property.

The landowners are asking the 8th US Circuit Court of Appeals to reinstate their case, after it was dismissed last year.

In their lawsuit, landowners demanded the pipeline be replaced, fixed or removed. But a judge sided with Exxon and dismissed the case, saying easement contracts between Exxon Mobil and property owners don’t require the company to maintain the pipeline.—AP

Fiat Chrysler recalls 224,000 jeeps

DETROIT: Fiat Chrysler is recalling more than 224,000 Jeep Wrangler SUVs worldwide because the air bags may not inflate in a crash.

The recall covers certain 2016 and 2017 Wranglers. The company says in government documents that wiring to a sensor can come loose, cutting off signals to an air bag computer. If that happens, the seat belt pretensioners won’t work and the air bags won’t deploy.

The company says the problem hasn’t caused any crashes or injuries and it has no complaints from customers.—AP

Harley-Davidson to cut workforce

MILWAUKEE: Harley-Davidson Inc says it expects to lay off about 225 salaried employees by the end of the year to cut costs amid a sluggish US motorcycle market.

The cuts amount to about 5 per cent of the company’s workforce. The Milwaukee Journal Sentinel reports that about 70 contractors also will be affected.

Published in Dawn, October 20th, 2016

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