Sunday January 19, 2020
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US stocks open sharply lower amid global rout

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New York: US stocks opened sharply lower on Monday with the Dow Jones Industrial Average sliding below 16,000 for the first time since February 2014, as a rout in global markets continued to intensify.

Shortly after the opening bell, the Dow Jones Industrial Average plunged 829.79 points (5.04 percent), to 15,629.96. The S&P 500 dropped 91.72 points (4.65 percent), to 1,879.17. The Nasdaq Composite Index dived 283.27 points (6.02 percent), to 4,422.77, Xinhua reported. The Chinese stock markets had their worst day in eight years with the benchmark Shanghai Composite Index tumbling 8.49 percent to close at 3209.91 points.

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It has been reported that weak economic data has fueled worries that a drop-off in Chinese growth could cause a global slowdown. European equities also dived on Monday following previous session’s deep decline, as the Stoxx Europe 600 was down over 6 percent and Germany’s DAX fell 4 percent. US stocks saw a heavy fall on Friday, with the Dow nosediving more than 500 points, as a broad-based heavy sell-off in global stock markets weighed on U.S. market. The CBOE Volatility Index, often referred to as Wall Street’s fear gauge, soared 46.45 percent to end at 28.03 Friday.

(IANS)

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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.

Also Read: Cricket Icon Mahendra Singh Dhoni to Back Show on Army Officers

“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)