Foxconn Technology Group, which assembles Apple iPhones in China, has apologized for a pay dispute that sparked employee protests at a factory where virus checks have slowed production. Employees complained that Foxconn changed the wage terms offered to attract them to the plant in the central city of Zhengzhou.
Foxconn is trying to rebuild its workforce after employees left the company following complaints of unsafe conditions. Foxconn blamed a “technical error” when adding new employees and promised they would receive the promised salary. During protests this week, police beat and kicked factory workers. The dispute comes as the ruling Communist Party attempts to contain a spike in infections without shutting down factories.
What is the effect of the Russian oil price cap, the ban?
The deadline is approaching for Western allies to agree on a price cap for Russian oil. The cap proposed by US Treasury Secretary Janet Yellen aims to cut Russia’s oil revenues that support its military and the invasion of Ukraine. But there are questions about the effectiveness of the cap.
The December 5 start date also coincides with the European Union embargo on most Russian oil shipments. There is uncertainty about how all of this will affect oil markets, which oscillate between fears of a loss of Russian supply and weakening demand from a faltering global economy. The biggest disruption may not come until February 5, when Europe halts imports of Russian petroleum products, including diesel fuel.
Compiled from Associated Press reports.
Foxconn Technology Group, which assembles Apple iPhones in China, has apologized for a pay dispute that sparked employee protests at a factory where virus checks have slowed production. Employees complained that Foxconn changed the wage terms offered to attract them to the plant in the central city of Zhengzhou.
Foxconn is trying to rebuild its workforce after employees left the company following complaints of unsafe conditions. Foxconn blamed a “technical error” when adding new employees and promised they would receive the promised salary. During protests this week, police beat and kicked factory workers. The dispute comes as the ruling Communist Party attempts to contain a spike in infections without shutting down factories.
What is the effect of the Russian oil price cap, the ban?
The deadline is approaching for Western allies to agree on a price cap for Russian oil. The cap proposed by US Treasury Secretary Janet Yellen aims to cut Russia’s oil revenues that support its military and the invasion of Ukraine. But there are questions about the effectiveness of the cap.
The December 5 start date also coincides with the European Union embargo on most Russian oil shipments. There is uncertainty about how all of this will affect oil markets, which oscillate between fears of a loss of Russian supply and weakening demand from a faltering global economy. The biggest disruption may not come until February 5, when Europe halts imports of Russian petroleum products, including diesel fuel.
Compiled from Associated Press reports.