Spanish billionaire and Zara founder Amancio Ortega bought a residential skyscraper in Seattle in US for $323 million, marking his one of the costliest real estate deal ever. His private firm said that dealing has been done.

World Business Watch: Zara founder Amancio Ortega buys skyscraper for $323 million

There are two sides to every garment. One holds all the sequins and the glitters for the world to see. The other side has the messy thread work. This side is hidden.

Zara's clothes too have this dichotomy. As does the brand.

<a href="https://www.wionews.com/business-economy/us-records-205-million-job-losses-in-april-no-surprise-will-bring-it-back-says-trump-297490">Also read:&nbsp;US records 20.5 million job losses in April; will bring it back, says Trump</a>

This spring-summer belongs to Zara. The brand is being hailed for its response to the pandemic.

In March, Zara temporarily closed around 4,000 of its stores across the world. Its factories in Spain switched to producing medical supplies -- masks, personal protective equipment and washable hospital gowns.

Zara flew in 3 million PPEs and close to 1,500 ventilators for Spain.&nbsp;

Its spanish employees were assured full salaries. Spain was happy and the world was celebrating Zara.

<a href="https://www.wionews.com/world/whistleblower-complaint-draws-attention-to-trump-administrations-flawed-covid-19-response-297366">Also read:&nbsp;Whistleblower complaint draws attention to Trump administration's flawed COVID-19 response</a>

84-year-old Amancio Ortega&nbsp;is the man behind the brilliant PR campaign. He is a Spanish citizen, the owner of Zara's parent company Iniditex, and is the world's 6th richest man.

It is in his home country that Zara's philanthropy begins and ends. Zara has stores across the world. But Iniditex has just 13 factories at home--&nbsp;in Spain.

Wonder where Zara's other factories are? Turn the globe. Myanmar, Bangladesh and Turkey.

It is in these countries that Zara gets most of its garments made. SImply because of cheap labour. But, Zara has mistaken cheap labour for exploitation.

While the brand was donating medical supplies in Spain, its workers in Myanmar were not even given masks. When they asked for it, they were fired. At least 500 workers in Zara's myan mode factory were laid off in the middle of the pandemic.

Zara's workers are under-paid. In the factories of Myanmar people work 11-hours shifts, for six days a week. They are paid as little as 3 and a half to 5 dollars a day.

The tales of horror go beyond the continent.

In 2015, Zara was accused of discriminating &nbsp;against black employees. The condition in Zara's Brazil factories were likened to slavery.

In 2017, workers making clothes for Zara in Turkey began sewing pleas into clothes. The tags complained of underpayment.

Inditex has also been accused of tax evasion. Zara's owner, Amancio Ortega, is a hero in Spain. The country's leadership wear his brand.

In march this year, thousands of Spaniards came out in their balconies to wish him a happy birthday. But it was around the same time, Zara's workers, outside the country, were complaining of an unsafe working environment.

Zara's story is &nbsp;a textbook example of how big brands do just enough to attract good press.

What happens behind the scenes is none of the world's business.

There are two sides to every garment. One holds all the sequins and the glitters for the world to see. The other side has the messy thread work. This side is hidden.

There are two sides to every garment. One holds all the sequins and the glitters for the world to see. The other side has the messy thread work. This side is hidden. Zara's clothes too have this dichotomy. As does the brand. Also read: US records 20.5 million job losses in April; will bring it back, says Trump This spring-summer belongs to Zara. The brand is being hailed for its response to the pandemic. In March, Zara temporarily closed around 4,000 of its stores across the world. Its factories in Spain switched to producing medical supplies -- masks, personal protective equipment and washable hospital gowns. Zara flew in 3 million PPEs and close to 1,500 ventilators for Spain. Its spanish employees were assured full salaries. Spain was happy and the world was celebrating Zara. Also read: Whistleblower complaint draws attention to Trump administration's flawed COVID-19 response 84-year-old Amancio Ortega is the man behind the brilliant PR campaign. He is a Spanish citizen, the owner of Zara's parent company Iniditex, and is the world's 6th richest man. It is in his home country that Zara's philanthropy begins and ends. Zara has stores across the world. But Iniditex has just 13 factories at home-- in Spain. Wonder where Zara's other factories are? Turn the globe. Myanmar, Bangladesh and Turkey. It is in these countries that Zara gets most of its garments made. SImply because of cheap labour. But, Zara has mistaken cheap labour for exploitation. While the brand was donating medical supplies in Spain, its workers in Myanmar were not even given masks. When they asked for it, they were fired. At least 500 workers in Zara's myan mode factory were laid off in the middle of the pandemic. Zara's workers are under-paid. In the factories of Myanmar people work 11-hours shifts, for six days a week. They are paid as little as 3 and a half to 5 dollars a day. The tales of horror go beyond the continent. In 2015, Zara was accused of discriminating against black employees. The condition in Zara's Brazil factories were likened to slavery. In 2017, workers making clothes for Zara in Turkey began sewing pleas into clothes. The tags complained of underpayment. Inditex has also been accused of tax evasion. Zara's owner, Amancio Ortega, is a hero in Spain. The country's leadership wear his brand. In march this year, thousands of Spaniards came out in their balconies to wish him a happy birthday. But it was around the same time, Zara's workers, outside the country, were complaining of an unsafe working environment. Zara's story is a textbook example of how big brands do just enough to attract good press. What happens behind the scenes is none of the world's business.

Zara steps into another controversy; workers in Myanmar fired for demanding masks

Jeff Bezos, the founder and chief executive of Amazon.com Inc, has become the world&#39;s third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc. 
 
Bezos&#39; fortune was $65.3 billion as of 4:30 pm EDT on Thursday, compared with Buffett&#39;s $64.9 billion. 
 
Microsoft Corp co-founder Bill Gates remained the world&#39;s richest person, at $77.7 billion, while Spain&#39;s Amancio Ortega, who founded the Zara clothing chain&#39;s owner Inditex SA, was second at $72.7 billion. Facebook Inc co-founder and chief executive Mark Zuckerberg was fifth, at $54 billion. 
 
Bezos, 52, owns close to 18 per cent of Amazon. Its stock has risen by roughly 50 per cent since early February, as the world&#39;s largest online retailer continued to upend retailing as more people took to the Web rather than the mall to shop. 
 
Amazon&#39;s share price rose further in after-hours trading, after the Seattle-based company reported better-than-expected second-quarter results. 
 
Buffett, 85, owns close to 18 per cent of Berkshire, but his donation this month of $2.86 billion of Berkshire stock to the Bill &amp; Melinda Gates Foundation and four family charities led to his drop to fourth place. He has donated more than $24.3 billion to the Gates Foundation and family charities since 2006. 
 
Berkshire is based in Omaha, Nebraska, and has roughly 90 business units including Geico car insurance, the BNSF railroad and Dairy Queen ice cream. 
 
In June, Buffett called Bezos a &quot;classic example&quot; of how a business owner could thrive, by having focused at Amazon on how to &quot;delight&quot; customers, and keep them coming back, rather than simply process their orders. 
 
(Reuters)

Microsoft Corp co-founder Bill Gates remained the world's richest person, at $77.7 billion

Jeff Bezos, the founder and chief executive of Amazon.com Inc, has become the world's third-richest person as of the market close for the first time, Forbes magazine said, passing Warren Buffett, the chairman and chief executive of Berkshire Hathaway Inc. Bezos' fortune was $65.3 billion as of 4:30 pm EDT on Thursday, compared with Buffett's $64.9 billion. Microsoft Corp co-founder Bill Gates remained the world's richest person, at $77.7 billion, while Spain's Amancio Ortega, who founded the Zara clothing chain's owner Inditex SA, was second at $72.7 billion. Facebook Inc co-founder and chief executive Mark Zuckerberg was fifth, at $54 billion. Bezos, 52, owns close to 18 per cent of Amazon. Its stock has risen by roughly 50 per cent since early February, as the world's largest online retailer continued to upend retailing as more people took to the Web rather than the mall to shop. Amazon's share price rose further in after-hours trading, after the Seattle-based company reported better-than-expected second-quarter results. Buffett, 85, owns close to 18 per cent of Berkshire, but his donation this month of $2.86 billion of Berkshire stock to the Bill & Melinda Gates Foundation and four family charities led to his drop to fourth place. He has donated more than $24.3 billion to the Gates Foundation and family charities since 2006. Berkshire is based in Omaha, Nebraska, and has roughly 90 business units including Geico car insurance, the BNSF railroad and Dairy Queen ice cream. In June, Buffett called Bezos a "classic example" of how a business owner could thrive, by having focused at Amazon on how to "delight" customers, and keep them coming back, rather than simply process their orders. (Reuters)

Bezos passes Buffett, becomes third-richest person: Forbes

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World Business Watch: Zara founder Amancio Ortega buys skyscraper for $323 million

Zara steps into another controversy; workers in Myanmar fired for demanding masks

Bezos passes Buffett, becomes third-richest person: Forbes