From 31m ago UK watchdog secures changes from Asos, Boohoo, Asda on green claims Millions of consumers can expect to see accurate and clear green claims when shopping for fashion items with Asos, Boohoo and George at Asda, Britain’s competition watchdog said. The Competition and Markets Authority (CMA) said the companies had signed formal agreements to change the way they display, describe, and promote their green credentials. The CMA launched an investigation into ASOS, Boohoo and George at Asda in July 2022, having identified concerns of possible greenwashing during an…
Tag: Business
Chinese EV battery maker in talks to invest £1bn in new UK gigafactory
A Chinese manufacturer of electric vehicle batteries is in talks to invest more than £1bn to build a giant new factory on the outskirts of Coventry. EVE Energy, which says it employs 28,000 staff worldwide, is understood to be in talks to construct a 5.7m sq ft gigafactory, which will form one of the main parts of the planned UK Centre for Electrification, an investment zone in the West Midlands. Sources with knowledge of the talks confirmed EVE’s interest in the project, which could create up to 6,000 jobs in…
Australia politics live: Brandis says Rudd must have bipartisan support as ambassador despite Trump comments; Joyce says Rudd is ‘cooked’
From 23m ago Brandis says Rudd must have bipartisan support as ambassador despite Trump’s ‘wild’ comments The former UK ambassador and Coalition minister George Brandis is speaking to ABC radio and he is being very critical of his former colleagues over the Kevin Rudd mini storm, sparked by Donald Trump’s comments. Brandis says the resulting storm has all been a bit much: I think this has been rather overinterpreted. Donald Trump is infamous for making rather wild and off-the-cuff claims that don’t in the end amount to very much, so…
Australia politics live: China’s foreign minister to arrive in Canberra amid calls for Penny Wong to demand release of Yang Hengjun
From 44m ago Press China to release Yang Hengjun, rights group say Daniel Hurst Human rights groups have urged the Australian government to demand the immediate release of Australian writer Dr Yang Hengjun and press other human rights issues strongly during meetings with China’s top diplomat today. The foreign affairs minister, Penny Wong, will hold talks with her Chinese counterpart, Wang Yi, in Canberra today, with trade, regional security and human rights among the topics expected to be raised. Amnesty International has written to Wong saying it “joins Uyghur, Tibetan,…
Evergrande: Chinese firm and founder fined over $78bn fraud claims
The troubled Chinese property developer Evergrande and its founder have been fined over allegations that they fraudulently inflated its revenues by $78bn (£61.6bn) in the two years before it began missing debt repayment deadlines. Beijing’s stock watchdog fined the company about $580m for allegedly falsifying its revenue, among other violations, as it conducts a deep clean of the country’s embattled financial sector. The company said in a release to mainland Chinese stock exchanges late on Monday that its chair, Hui Ka Yan, was fined $6.5m and banned from China’s markets…
Australia politics live: Coalition slams Keating for China meeting; RBA tipped to hold rates
From 1h ago Coalition slams Keating for China meeting Daniel Hurst The Coalition has taken aim at former prime minister Paul Keating for accepting a meeting with the Chinese foreign minister, Wang Yi, who is visiting Australia later this week. The Coalition’s foreign affairs spokesperson, Simon Birmingham, said the idea of the meeting was “pointed and somewhat insulting” in light of the extent of Keating’s past commentary directed towards the Australian foreign minister, Penny Wong: Paul Keating’s reckless and irresponsible comments since the Albanese government was elected demonstrates an underlying…
World’s largest solar manufacturer to cut one-third of workforce
The world’s largest solar manufacturer has slashed nearly a third of its workforce after a cost-cutting drive that included telling staff to only print in black and white fell short and as a chill ripples through the renewable energy sector. China’s Longi is to cut as much as 30% of its workforce, in an acceleration of cost reductions that began late last year, Bloomberg reported. It is unclear exactly how many jobs will be lost at the company, which employed 80,000 at its peak last year, as an internal function…
CATL, the little-known Chinese battery maker that has the US worried
The world’s two superpowers are so intricately linked that it’s hard to think of a pillar of the economy that hasn’t been strained by tensions between the US and China. And the next frontline in the economic conflict may be the most fundamental yet: a fight for power itself. A Chinese company that most people have never heard of is at the heart of the global race to store the clean energy needed to power the green transition in the US and the rest of the world. China’s Contemporary Amperex…
Honda and Nissan join forces on electric car technology to chase Chinese rivals
Honda and Nissan have put aside the “traditional approach” of fierce rivalry to join forces and work together on electric vehicle technology as Japan’s carmakers try to catch up with Chinese competitors. The Japanese manufacturers will work together on technology for EVs, including components and software, after signing a memorandum of understanding on Friday. Honda and Nissan, respectively the country’s second- and third-largest carmakers behind Toyota, aim to cut costs by combining resources. Traditional manufacturers are struggling to compete profitably with upstart rivals as the electric vehicle sector grows rapidly,…
McDonald’s hit by ‘technology outage’ in UK, Australia, Japan and China
McDonald’s restaurants in multiple countries including the UK and Australia have been hit by a “technology outage”, as the fast food chain denied it had been hit by a cybersecurity attack. Services in Australia, the UK, Japan and China have been affected, with unconfirmed reports of problems elsewhere, with restaurant, drive-through and online orders affected. A global spokesperson for McDonald’s said the company was working to resolve the unspecified problem. “We are aware of a technology outage, which impacted our restaurants; the issue is now being resolved. We thank customers…