Tuesday January 21, 2020
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US Dollar Weakens Amid Gloomy Economic Data

The Australian dollar rose to $0.7105 from $0.7094.

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US Dollar
The dollar index, which measures the greenback against six major peers, fell 0.15 per cent at 96.9817 in late trading. Pixabay

The US dollar declined as the allure of the greenback diminished amid a slew of downbeat economic data.

In late New York trading on Thursday, the euro rose to $1.1299 from $1.1269 in the previous session, and the British pound decreased to $1.2801 from $1.2850 in the previous session, Xinhua news agency reported.

The Australian dollar rose to $0.7105 from $0.7094.

The US dollar bought 110.47 Japanese yen, lower than 110.99 Japanese yen of the previous session. The US dollar was down to 1.0047 Swiss franc from 1.0088 Swiss franc, and it increased to 1.3281 Canadian dollars from 1.3250 Canadian dollars.

US Dollar
The Australian dollar rose to $0.7105 from $0.7094. Pixabay

US retail sales in December fell 1.2 per cent from the prior month, the worst drop in nine years, the Commerce Department reported on Thursday.

The unexpected decline, which came after a downwardly revised 0.1 per cent increase in November, signals a weaker economic momentum.

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The dollar index, which measures the greenback against six major peers, fell 0.15 per cent at 96.9817 in late trading. (IANS)

Next Story

US Government Begins Probe into Google Over its Labour Practices

"Four of our colleagues took a stand and organised for a better workplace. This is explicitly condoned in Google's Code of Conduct, which ends: 'And remember... don't be evil, and if you see something that you think isn't right -- speak up.' When they did, Google retaliated against them," the employee activist group wrote in the blog post

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Google Search Engine
Google Logo. Pixabay

The US government has launched a probe into Google over its labour practices following a complaint from four employees who have been fired by the tech giant.

The four workers who filed a lawsuit against the company last week, claimed they were fired from Google for engaging in legally protected labour organizing, reports CNN Business.

The National Labor Relations Board has begun a formal probe into the complaint.

The tech giant has been accused of “union busting” and retaliatory behaviour after it sacked four employees for allegedly violating the company’s data security policies.

In a statement, Google said it dismissed four individuals who were engaged in intentional and often repeated violations of its longstanding data security policies.

Google
US begins probe into Google’s labour practices. Pixabay

“No one has been dismissed for raising concerns or debating the company’s activities,” said the company on Monday.

Google is in the midst of controversy over its strained relationship with employees.

In an earlier blog post on Medium, an employee activist group, “Google Walkout for Real Change”, said that the company is illegally retaliating against prospective union organisers.

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“Four of our colleagues took a stand and organised for a better workplace. This is explicitly condoned in Google’s Code of Conduct, which ends: ‘And remember… don’t be evil, and if you see something that you think isn’t right — speak up.’ When they did, Google retaliated against them,” the employee activist group wrote in the blog post.

The new CEO of Alphabet Sundar Pichai faces extreme challenges as Google stares at several high-profile external probes into its alleged anti-trust market and data practices — from the US to the European Union regulators — including internal tensions with staff over discrimination at work and HR transparency. (IANS)