Apple Inc and its China manufacturing partner, Foxconn, agreed to improve wages and working conditions at factories accused of being sweatshops, a move that could set a new higher-cost benchmark for other Western users of Chinese labor.
In a landmark development for the way Western companies do business in China, Apple Inc said on Thursday it had agreed to work with partner Foxconn to tackle wage and working condition violations at the factories that produce its popular products.
Apple is facing increasingly more criticism regarding poor working conditions at its supplier Foxconn's Chinese factories. In an effort to improve working conditions, Apple CEO Tim Cook visited Foxconn Technology Group's new manufacturing facility for the iPhone in Zhengzhou, China.
An audit of Apple products manufacturer Foxconn found serious and pressing Chinese labor law violations.
The United States stepped up lobbying on Thursday for its pick to retain the top job at the World Bank as emerging markets pushed their view that the time has come for rich nations to share leadership of key institutions.
Whether it's a desire to be as dapper as Don Draper on television's Mad Men, a need to look good for a job interview or just a hankering for new duds, men have increased their spending on fancy clothes, and executives expect the boom to continue.
In a landmark development for the way Western companies do business in China, Apple Inc said Thursday it had agreed to work with partner Foxconn to substantially improve wages and working conditions at the factories that produce its wildly popular products.
Dongyang, in the Zhejiang province of China, boasts one of the most unique delicacies to still be consumed in modern times: virgin boy eggs, hard-boiled eggs soaked and boiled in the urine of boys under the age of ten. While medical experts view the delicacy (see photos here) warily, the day-long process for making the eggs has made the unusual food a proud part of Dongyang life for centuries.
ExxonMobil (NYSE: XOM), the largest U.S. and global producer of oil has been dethroned from its top spot.
The ASUS Transformer Prime Eee Pad will be receiving a new firmware update that will give the tablet Ethernet support and Face Unlock capabilities as well as other laptop-like features.
Palladium prices are set to soar this year, buoyed by high levels of speculative buying, unwavering industrial demand and the general upward price pressure commodity metals are seeing in a zero-interest rate environment, according to a report issued Thursday.
The heads of Brazil, Russia, India, China and South Africa, meeting in New Delhi on Thursday, drafted a joint statement attacking American and European aggressive policy actions and dominance of global institutions.
Facebook (NYSE: FB), the No. 1 social network website, will stop insider trades of its shares Friday because its initial public offering roadshow will begin next week.
Hong Kong's Independent Commission Against Corruption on Thursday arrested the chairmen of Sun Hung Kai Properties, brothers Raymond and Thomas Kwok, on suspicion of corruption, the company said.
Brazil, Russia, India, China and South Africa are meeting in Delhi to discuss a range of issues, including increased financial integration of the member countries.
The new iPad's smoke has finally cleared and the Apple fan crowd has now gathered around the iPhone 5 rumor mill. And they haven't been left disappointed. Though the actual release of Apple's sixth generation smartphone could be several months away, the rumor mill is churning in earnest and the latest buzz comes from RepairLabs, which reported that Texas Instrumentals have begun production of iPhone 5's power management chip.
Tibetan protesters clashed with the police as the leaders of five emerging economic powerhouses in the world met at the BRICS 2012 summit, in New Delhi. In an anti-China protest against the presence of Chinese president Hu Jintao in India, Tibetans unfurled the Tibetan flags in a protest rally held at less than a mile from the BRICS summit venue in the Indian capital.
Apple Inc's Tim Cook, on his first trip to China as the chief executive officer, has visited an iPhone production plant run by the Foxconn Technology Group, which is being accused of improper labor practices.
The BRICS nations signed two agreements aimed at promoting trade in local currencies on Thursday.
The two agreements, of which one will provide line of credit to the business community, while the other will examine the possibility of setting up a development bank, were signed by officials of the five member countries Brazil, Russia, India, China and South Africa, Reuters reported.
An unmanned European supply vessel carrying more than six tonnes of freight docked with the International Space Station (ISS) on Wednesday reinforcing Europe's role in the functioning of the ISS, space officials said.
Russia and India will start to trade in domestic currencies within the next three years according to the Chairman of Russian Development Bank.
Air China Ltd <0753.HK><601111.SS> has not cut or cancelled any Airbus orders and is sticking to the delivery plan for the aircraft, it said on Thursday, adding that it plans to expand capacity.
