Tech News

Forced labour, possible 'enslavement' in China's Xinjiang: UN expert

Minorities have been drafted into forced labour in China's Xinjiang region in sectors such as agriculture and manufacturing, a report by an independent UN expert has concluded, in what it said could amount to "enslavement as a crime against humanity".. The nature and extent of powers exercised over the workers -- including excessive surveillance and abusive living and working conditions -- could "amount to enslavement as a crime against humanity, meriting a further independent analysis", it said.

Wed, Aug 17, 2022 2 mins read

Tech News

China heat wave pushes up prices as hens lay fewer eggs

Scorching temperatures in eastern China have pushed up egg prices because hens are laying fewer in a hotter-than-usual summer, local media reported.. Provinces including Zhejiang, Jiangsu and Anhui that rely on power from western China have also issued electricity curbs for industrial users to ensure homes had enough power, local media reported.

Wed, Aug 17, 2022 1 mins read

Tech News

Germany's Russian gas crisis sparks coal rush

"A rush like this in the summertime, it's unheard of -- everybody wants coal," says Frithjof Engelke, a supplier of the briquettes which have become a hot commodity in the German capital.. The German government had already resolved to increase the use of coal-fuelled power plants to satisfy the enormous appetites of several industries. 

Tue, Aug 16, 2022 3 mins read

Tech News

Asian markets fluctuate as traders weigh economic outlook

Markets drifted in Asia on Wednesday, with investors trying to navigate an uncertain economic landscape as central banks hike interest rates to fight runaway inflation, in turn fuelling fears of a possible recession.. The country's central bank announced a surprise interest rate cut Monday and a report Tuesday said Premier Li Keqiang called on six key provinces -- accounting for about 40 percent of the economy -- to bolster pro-growth policies.

Tue, Aug 16, 2022 3 mins read

Tech News

Elon Musk tweets he is 'buying Manchester United'

Elon Musk tweeted Tuesday evening that he is purchasing the Manchester United football club, although it was not clear if the eccentric billionaire, currently embroiled in a lawsuit over his bid to buy Twitter, was being serious.. As for Elon Musk, the richest man in the world recently sold nearly $7 billion worth of Tesla shares, and is in a major legal battle in the US state of Delaware over his aborted plan to buy Twitter. des/jh

Tue, Aug 16, 2022 1 mins read

Tech News

Cuba authorizes foreign investment in wholesale, retail

The Cuban government has announced it will allow foreign investment in domestic wholesale and retail trade for the first time in 60 years, in a move aimed at addressing critical shortages of goods.. - Raw materials needed - According to Cuban economist Mauricio Miranda Parrondo, "the state monopoly on foreign trade and retail is responsible for the shortage of consumer goods in the domestic market."

Tue, Aug 16, 2022 2 mins read

Tech News

Walmart results top estimates as inflation alters consumer behavior

Walmart scored a big jump in revenues partly driven by inflation but the retail giant faces increasing evidence of shifting consumer behavior due to rising prices, according to quarterly results released Tuesday.. Neil Saunders of GlobalData Retail said Walmart's results demonstrate the advantages of its position at a time when consumers are worried about higher prices, but the company also faces challenges.

Tue, Aug 16, 2022 2 mins read

Tech News

Oil majors' climate visions 'inconsistent' with Paris targets

Global decarbonisation scenarios envisioned by oil and gas majors are incompatible with the Paris climate deal temperature goals aimed at averting devastating heating, according to research published Tuesday.. They also assessed the underlying energy system changes that drive emissions and could lead to a given scenario meeting -- or failing to meet -- the Paris temperature goals.

Tue, Aug 16, 2022 2 mins read

Tech News

US industrial output jumps in July on solid manufacturing gain

A solid rebound in American manufacturing, especially vehicles, following two months of declines, help push overall industrial production up in July, the Federal Reserve said Tuesday.. Overall production was 3.9 percent higher compared to July 2021, while manufacturing has risen 3.2 percent, the report said.

Tue, Aug 16, 2022 1 mins read

Tech News

China factories ration power as heatwave sends demand soaring

Chinese lithium hub Sichuan province will ration electricity supply to factories until Saturday, state media reported, as a heatwave sends power demands soaring and dries up reservoirs.. Provinces including Zhejiang, Jiangsu and Anhui that rely on power from western China have also issued electricity curbs for industrial users to ensure homes had enough power, according to local media reports. 

Tue, Aug 16, 2022 1 mins read