Foxconn: iPhone maker hikes pay ahead of new model launch
Apple supplier Foxconn is ramping up efforts to recruit more workers for the world’s largest iPhone factory, ahead of the launch of a new model. Foxconn says new workers at its plant in Zhengzhou, China will get bonuses of up to 3,000 yuan ($424; £343) if they stay in the job for at least 90 days. […]
Netflix puts an end to password-sharing for subscribers in US
The great Netflix password crackdown has begun. The streaming giant sent out an email Tuesday to US members who are sharing their account with people living outside their household that made clear it would begin kicking people off the service if they were using someone’s account for more than 30 days while at a different […]
Crippling Inflation and its Toll on South Africa’s Economy
South Africa is currently grappling with a host of economic challenges that threaten its stability and growth prospects. Load shedding, high inflation, and a weakened local currency have been cited by the South African Reserve Bank Governor, Lesetja Kganyago, as imminent threats to the economy. As a response to these concerns, the repo rate was […]
Inflation Eases, Hope Increases: Positive Prospects for South African Consumers
Consumers in South Africa can breathe a sigh of relief as the country’s inflation rate experiences a notable decline. In April, inflation cooled down from 7.1% to 6.8%, marking the lowest reading in nearly a year. This unexpected drop defied the predictions of some economists who anticipated persistently high inflation. While this overall improvement is […]
Cathay Pacific fires cabin crew over discrimination claim
Cathay Pacific Airways has fired three flight attendants after a complaint that they had discriminated against non-English speaking passengers. They were sacked after an audio clip of the cabin crew apparently mocking passengers went viral. The Hong Kong carrier launched an internal investigation and apologised for causing “widespread concern”. Chinese state media claimed the airline […]
‘We are not decoupling’: G-7 leaders agree on approach to ‘de-risk’ from China
Leaders of the Group of Seven agreed there’s a need to de-risk, not decouple from China, and acknowledged challenges posed by the mainland’s practices which “distort the global economy.” “We are not decoupling or turning inwards,” the G-7 said in a joint statement released over the weekend as leaders met in Hiroshima, Japan. “At the […]
Banks don’t always read their own terms and conditions
A recent case brought before the Banking Services Ombud shows that the terms and conditions in banking contracts have to be crystal clear. In the case, the complaint looked at fees regarding a home loan account, where the bank charged fees to the complainant for making cash deposits at an ATM. The complainant looked at […]
China overtakes Japan as world’s top car exporter
China says it has become the world’s biggest exporter of cars after overtaking Japan in the first three months of the year. Officials figures released in the last week show China exported 1.07 million vehicles in the period, up 58% compared to the first quarter of 2022. At the same time Japan’s vehicle exports stood at […]
Ripple CEO says more crypto firms may leave U.S. due to ‘confusing’ rules
“Confusing” regulations in the U.S. will push more crypto companies to leave the U.S. as firms like Ripple look to hire and invest outside the country, the CEO of blockchain services company Ripple told CNBC in an exclusive interview. “Europe really has provided leadership and countries like UAE … the growth you’re seeing … even […]
Good news for airports and airlines in South Africa
South Africa’s air capacity has risen following a bleak period for airports and airliners in the country. During her speech on the latest tourism data from the Department of Tourism, Minister Patricia De Lille said that capacity has risen since last year, with a 56% increase in the first quarter of 2023 compared to the […]
