After FTX Went Bankrupt, Miami Removed The Arena's Sign And Jobless Petitions Rose

After FTX Went Bankrupt, Miami Removed The Arena’s Sign And Jobless Petitions Rose

Miami has requested that the FTX name be removed from the arena. Miami — Miami-Dade County has filed a petition with the United States Bankruptcy Court requesting urgent authorization to terminate its naming rights arrangement with FTX and remove that mark from the arena where the Miami Heat play their home games in the National Basketball Association.

The county, which owns the arena and negotiated the naming rights arrangement with FTX, said in a request submitted on Tuesday that continuing to refer to the building as FTX Arena will add to the “enduring hardships” caused by the collapse of the cryptocurrency exchange.

The middle of December has been set aside for the hearing. The building’s name has not been altered at this time, and the FTX signage has been left in place. The vote on Tuesday should not have come as a surprise. On November 11, FTX submitted their petition to the bankruptcy court, and on the same day, both the county and the Heat began ending their connection with the company.

Unemployment claims rose to 240k, which is still a low number. The number of people in the United States who submitted applications for unemployment benefits reached its highest level since August but remained relatively low compared to previous years.

After FTX Went Bankrupt, Miami Removed The Arena's Sign And Jobless Petitions Rose
After FTX Went Bankrupt, Miami Removed The Arena’s Sign And Jobless Petitions Rose

The Department of Labor announced on November 23 that 240,000 persons submitted applications for unemployment assistance over the previous week. This represents an increase of 17,000 applications compared to the last week.

The four-week moving average of claims, which helps smooth out week-to-week volatility, increased by 5,500 to 226,750, bringing the total to a higher level. The number of people who apply for unemployment benefits is sometimes used as a proxy for the number of people who lose their jobs; the current low numbers demonstrate that American employees have exceptional job security.

A furniture manufacturer in Mississippi has laid off 2,700 employees in TUPELO, Mississippi. A company with its headquarters in Mississippi that had grown to become one of the most successful furniture companies in the country has terminated nearly all of its employees.

This week, United Furniture Industries communicated with its staff members via email and text message to inform them that they should not report to their shifts on November 22. There were around 2,700 people made redundant. Most of the workers are from northeastern Mississippi, but the corporation also laid off staff at its North Carolina and California factories.

According to the document, the company’s board of directors had issued the command that resulted in the layoffs, which were carried out owing to “unforeseen business circumstances.” When the emails arrived in their inboxes, some workers had fallen sound asleep. Others, on the other hand, did not read the emails before going to work. The drivers of the company trucks who were out making deliveries were given instructions to quickly return to a United Furniture site to turn in their vehicles.

iPhone factory workers in China were beaten by police during a protest. BEIJING — Workers at the most significant facility producing Apple’s iPhone were protesting a salary issue, and police beat them throughout the demonstrations. The latest model of the iPhone has been delayed because of regulations set by China to contain an increase in COVID-19 cases.

Since last month, when thousands of employees at Foxconn’s factory in the city of Zhengzhou, located in the central region of China, walked away in protest over unsafe working conditions, the company has been having trouble fulfilling orders for the iPhone 14.

Factories in China, such as Foxconn, which makes a variety of commodities, including consumer electronics, toys, and other items, are primarily responsible for China’s status as an export powerhouse. The Communist Party, which is currently in power, is attempting to control the most recent epidemics without closing factories and the rest of the economy, as it did at the beginning of 2020.

The United States has temporarily held sugar imports due to labour issues. SAN JUAN, Puerto Rico — In response to reports that the largest sugar producer in the Dominican Republic makes use of forced labour, the United States government has announced that it will place a hold on all imports of sugar and products connected to sugar that are manufactured in that nation.

An investigation reportedly found that Central Romana Corporation, Ltd. isolated workers, withheld wages, fostered abusive working and living conditions, and pushed for excessive overtime, according to a statement issued by the United States Customs and Border Protection on November 23. The statement was made in written form.

A message left for a spokeswoman for the corporation, asking for comment, was not immediately returned. The corporation has been subjected to allegations of this nature for a long time.

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