Major International Business Headlines Brief::: 02 March 2023
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Major International Business Headlines Brief::: 02 March 2023
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ü Starbucks illegally fired US workers over union, judge rules
ü Gautam Adani: India Supreme Court sets up panel to probe Adani fraud allegations
ü Drugs giant Eli Lilly caps monthly insulin costs in US at $35
ü Whiskey fungus lawsuit forces Jack Daniels to halt building project
ü Vivek Ramaswamy: The Indian-American CEO who wants to be US president
ü Chinese factories boom while Japan's are in reverse
ü Call to help 'mortgage prisoners' trapped on high interest rates
ü Bank of England boss says UK interest rates may rise further
ü BA-owner and EasyJet hold millions of unclaimed travel vouchers
ü China hits out at US over TikTok ban on federal devices
ü Tesla to build new factory in Mexico
ü Building giant set to switch share listing to US
ü Liberia: LERC Bids Farewell to EU-LTTA Team
ü Liberia: Arcelormittal Liberia Inducted Into Liberia Chamber of Mines, Reinforces Commitment to Liberia
ü Uganda: KCCA Tasked On Delayed Pay of Casual Workers
ü Kenya: Panic Grips Coffee Farmers in Mt Kenya Following Fears of Low Returns
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Starbucks illegally fired US workers over union, judge rules
Starbucks illegally fired six workers in New York state in a pushback against unions, a US National Labor Relations Board (NLRB) judge has ruled.
The judge says the firm committed "egregious and widespread" violations of federal labour law at its stores in cities of Buffalo and Rochester.
The coffee chain has been ordered to rehire the ex-workers and compensate others who were affected.
In response, Starbucks said its actions were lawful and in line with policies.
"We believe the decision and the remedies ordered are inappropriate given the record in this matter and are considering all options to obtain further legal review," Starbucks told the BBC.
In a more than 200 page decision, Michael A Rosas, who is a federal administrative law judge, also ordered Starbucks to rehire another worker that he ruled had been illegally forced out of their job.
Mr Rosas said Starbucks had showed "a general disregard for the employees' fundamental rights" in response to union campaigns.
The judge added that the company interrogated and threatened workers and restricted discussion of pay.
It also repeatedly sent high-ranking staff to stores "in order to more closely supervise, monitor, or create the impression that employees' union activities are under surveillance," he said.
The NLRB is an independent federal agency with the power to safeguard employees' rights to unionise at their workplaces.
Starbucks launches olive oil coffee in Italy
Starbucks set for walkouts in US over unionisation
Michael Sanabria, a Starbucks barista in Buffalo, said the ruling was "such a massive win for us, and for the labour movement as a whole."
"The decision results from months of tireless organising by workers... demanding better working conditions in the face of historical, monumental, and now deemed illegal union-busting," said Michelle Eisen, a barista at another Starbucks location in Buffalo.
Last year, workers at around 270 of Starbucks stores across the US voted to join unions, despite opposition from the firm. Starbucks has around 9,000 company-owned stores in the US.
Union campaigners have accused the company of dragging its feet at the bargaining table and violating labour laws as it tries to shut down the movement.
Starbucks - which has long prided itself on its reputation as a progressive, worker-friendly employer - has said it respects workers' right to protest.
In recent months the company has raised pay and made other changes in response to the discontent.-bbc
Gautam Adani: India Supreme Court sets up panel to probe Adani fraud allegations
India's Supreme Court has set up an independent panel to investigate a US research firm's allegations of fraud against billionaire Gautam Adani's business empire.
Hindenburg Research had accused Adani Group firms of stock manipulation and financial fraud in a report in January, sending its shares into a sharp fall.
The group has denied the allegations.
But the incident sparked a political row, with opposition leaders demanding an investigation into the claims.
On Thursday, the Supreme Court appointed a five-member panel to investigate the allegations.
The committee, which will be headed by former judge Abhay M Sapre, has been asked to give its report in two months.
Minutes after the verdict, Mr Adani tweeted that his companies welcomed the court's decision, which he said, would "bring finality in a time bound manner".
"The truth will prevail," Mr Adani added.
The three-judge bench headed by Chief Justice Dr DY Chadrachud was hearing a bunch of pleas - filed by lawyers and politicians - seeking a probe into the Adani Group after Hindenburg Research accused it of decades of "brazen" stock manipulation and accounting fraud.
How Gautam Adani's empire lost $100bn in days
During the last hearing, the court refused to accept names of experts for the committee suggested by the federal government, saying it wanted to "maintain full transparency" in the case."If we take names from the government, it would amount to a government-constituted committee. So we will appoint the committee and appoint members on our own," Justice Chandrachud had said.
The Adani Group's companies have seen more than $100bn (£82bn) wiped off their market value over the past few weeks after the allegations triggered a financial meltdown in Indian markets.
The group has dismissed the allegations as malicious and untrue, calling them an "attack on India". But the response has failed to stop the fall in Adani shares.
Mr Adani, the founder, has fallen out of the top 10 richest persons in the world. According to the Forbes real-time billionaires list, Mr Adani is now the 15th-richest, with a net worth of $74.7bn. He was third on the list last month.
Mr Adani is perceived as being close to Prime Minister Narendra Modi and has long faced allegations from opposition politicians that he has benefited from his political ties, which he denies.-bbc
Drugs giant Eli Lilly caps monthly insulin costs in US at $35
Drug giant Eli Lilly has announced a $35 (£30) cap on the monthly costs patients face for insulin in the US, responding to outcry over the soaring cost of the diabetes medication.
More than eight million Americans use insulin to control their diabetes, the American Diabetes Association says.
Last year, the US passed a law capping monthly costs at $35 for people with certain government health insurance.
But for many people with private insurance the costs remain much higher.
Eli Lilly said it would institute the cap on out-of-pocket costs for Lilly insulin users immediately as it prepares to cut the list price of two of its most commonly prescribed insulins, Humalog and Humalin, by 70% by the end of the year.
It is also dropping the list price of its non-branded insulin, Lispro, to $25 a vial, effective 1 May.
"While the current healthcare system provides access to insulin for most people with diabetes, it still does not provide affordable insulin for everyone and that needs to change," said David A Ricks, Lilly's Chair and CEO.
"The aggressive price cuts we're announcing today should make a real difference."
President Joe Biden said Lilly's announcement was "huge news".
He has called for a national $35 cap on monthly insulin costs, a proposal that was defeated in Congress last year.
"Last year, we capped insulin prices for seniors on Medicare, but there was more work to do," he said in a statement. "Today, Eli Lilly is heeding my call. Others should follow."
While Lilly is a major player in the market, the company estimates that a majority of patients use drugs from other companies.
Many face costs that can be hundreds of dollars a month or more - far higher than the norm in many other countries.
The list price - what a person without health insurance would have to pay - for a vial of Lilly's Humalog is currently about $275.
Because insurance companies negotiate medicine prices, many patients with insurance face lower costs.
Ravi Lulla of Omaha, Nebraska did not take certain jobs - even if he really wanted to - because he needed to work for a company with good insurance that would help him access affordable insulin.
The 35-year-old told the BBC he had to leave his previous job after they changed insurance plans and his insulin rose from $30 to $300 per month.
When making career decisions, he said he always thought: "How does this affect my ability to have affordable access to insulin?"
He said news of the cap gives him some sense of security around the medication he uses to manage type 1 diabetes.
"If I get laid off or decide to pursue a career I enjoy instead of one that pays for my insulin my life isn't in danger," he said.
Overall, Lilly estimates that the average out-of-pocket cost for Lilly insulins has dropped to $21.80 over the last five years.
Lilly said people can access the new savings on out-of-pocket costs via their pharmacy or with a card from Lilly's Insulin Value Program.
"We are driving for change in re-pricing older insulins, but we know that seven out of 10 Americans don't use Lilly insulin," Mr Ricks of Lilly said. "We are calling on policymakers, employers and others to join us in making insulin more affordable."
Insulin costs in the US are much higher than in other countries.
For example, a 2020 Rand study found that the average price per vial of insulin in the US was more than $98 in 2018, compared with less than $7 in Australia, $12 in Canada and less than $8 in the UK.
Even after insurance discounts were taken into account, patients likely faced costs roughly four times the average elsewhere, it found.-bbc
Whiskey fungus lawsuit forces Jack Daniels to halt building project
A Jack Daniels building project is to be halted after a neighbour argued she was facing a plague of whiskey fungus caused by escaping alcohol vapours.
Christi Long, of Lincoln County, Tennessee, claimed her property was coated in the fungus, which appears as a black crust on surfaces.
It is a growing issue for people in the area, her lawyer told BBC News.
The fungus, which consumes ethanol fumes, grows on surfaces near bakeries and distilleries around the world.
Mrs Long, who runs an events venue next to several Jack Daniels warehouses, including one under construction, says the invading fungus has required her to spend thousands on power washing.
She is suing the local county zoning office, arguing it did not properly approve permits for the warehouses.
Some infuriated locals are now calling for Jack Daniel's Tennessee Whiskey, which is owned by Louisville-based company Brown-Forman, to install air filters to combat the problem.
Jason Holleman, a lawyer representing Mrs Long, says whiskey companies often speak about the evaporation process - dubbed "the angels' share" - without mentioning the resulting mould that comes with it.
"If you go on one of these distillery tours they will tell you about the angels' share that goes into the atmosphere," he says.
"And unfortunately that also results in the devil's fungus."
In a court order, Lincoln County Chancellor J.B. Cox instructed Lincoln County zoning officials to order construction to be halted after he ruled that the permitting process was never fully completed.
Mr Holleman said he anticipates asking the court to order Brown-Forman to stop using six recently-built warehouses, which are commonly known as barrelhouses, that are also near Mrs Long's property.
Brown-Forman spokeswoman Elizabeth Conway told the Lexington Herald-Leader newspaper: "We respect the chancellor's ruling and look forward to working with Lincoln County on updated permits.
"The Jack Daniel Distillery will continue to comply with regulations and industry standards regarding the design, construction, and permitting of our barrelhouses in Lincoln Co."
Brown-Forman did not respond to a BBC News request for further comment.
Jack Daniels Tennessee Whiskey was founded in Moore County, which neighbours Lincoln County, in 1866.
The fungus - named Baudoinia compniacensis - is named after the director of the French Distillers' Association that discovered it growing near cognac distilleries in the 1870s.
It has led to complaints and lawsuits from Scotland to Canada and the Caribbean.
Federal agents in Tennessee used to look for the fungus as a sign that illegal alcohol - moonshine - was being made nearby, Mr Holleman says.
The whiskey industry in Tennessee is growing, along with residential development, leading to more conflicts between distillers and homeowners.
According to the Herald-Leader, residents in at least three other counties have fought distillery expansions, arguing that the fungus would harm property values.-bbc
Vivek Ramaswamy: The Indian-American CEO who wants to be US president
Two of the three Republicans who have announced plans so far to enter the US presidential race are Indian-Americans. While Nikki Haley is a familiar name, surprise candidate Vivek Ramaswamy is much less well known. California-based journalist Savita Patel assesses his chances and whether he could bring change.
Mr Ramaswamy, a multimillionaire entrepreneur and author of the book Woke, Inc., announced his presidential bid on 21 February with an appearance on a Fox News show and a video laying out his political views. He wants to launch a "cultural movement to create a new American dream" based on the "pursuit of excellence" - and he says "diversity is meaningless if there's nothing greater that binds" people.
The 37-year-old, who was born in Ohio, studied at Harvard and Yale, earned his millions as a biotechnology entrepreneur and then founded an asset management firm.
He's been vocal about his disdain for what he calls the corporate world's "wokeism" on racism and climate, claiming it hurts both businesses and the country. He's particularly opposed to ESG (environment, social and corporate governance) initiatives, by which a company's social and environmental impact is measured.
He also renounces affirmative action in higher education and wants to reduce US economic dependence on China.
Mr Ramaswamy's views have resonated with some, like fellow Republican Vikram Mansharamani, who ran for the US Senate from New Hampshire in the 2022 mid-terms, and met Mr Ramaswamy recently during the latter's visit to the state. Mr Mansharamani describes his Indian-American peer as being "very impressive, articulate and thoughtful", and says that their views to "unify rather than separate America" align.
"Identity politics has taken root in the US and that has come with a divisive tendency rather than a unifying tendency. We should build on what we have in common," he says, adding that his family also hosted Nikki Haley in New Hampshire recently.
But there are Indian-Americans on the other side of the political divide who don't agree with Mr Ramaswamy's politics and feel his campaign lacks depth.
Democrat Shekar Narasimhan, founder and chairman of the AAPI (Asian Americans and Pacific Islanders) Victory Fund, says that while he is happy to see more Asian-Americans gain prominence in politics, he isn't confident about Mr Ramaswamy's ideas.
"He is a business guy and has a clean slate, but what are his promises?" Mr Narasimhan asks. "Does he care about medical care for the elderly? What are his plans for infrastructure spending? He doesn't have fixed positions and has not articulated his policies yet."
He refers to the campaign as "Quixotic", suggesting Mr Ramaswamy believes "he has something to say and running for president might make him get heard". Mr Narasimhan also questions if his fellow Indian-American has "sufficiently accepted and acknowledged his heritage" instead of "acting like it is irrelevant".
Many community members who have supported Republicans for years say they had not heard of Mr Ramaswamy until he entered the race.
"I have never met him. I am told he has the money and is quite well-spoken, but he will be one of many candidates. He doesn't have much chance," says Dr Sampat Shivangi, a well-known Republican party supporter and fund-raiser.
Others agree.
"If he [Ramaswamy] had not thrown his hat in early, no one would be asking about him," says hotelier Danny Gaekwad, who has raised funds for all Republican presidential candidates since George W Bush.
Though Mr Gaekwad admires Mr Ramaswamy's courage in running for president, he says that it's important for him to have a strategy - one that "has something for Indian-Americans".
He also adds that it is early days yet, pointing out that there could be two formidable candidates in Florida alone - referring to Governor Ron DeSantis, who has yet to formally announce a White House bid, and former President Donald Trump, who has.
Republican presidential candidate Nikki Haley speaks during a campaign event in the New Hampshire Institute of Politics at Saint Anselm College on February 17, 2023 in Manchester, New Hampshire.
Indian-American Republicans are predicting a "three-way race between Mr Trump, Mr DeSantis and Ms Haley" and prefer to wait instead of forging early alliances, especially as there is still uncertainty around the former president's legal battles.
Mr Shivangi says that he admires Ms Haley's aggressive campaigning style and would support her in case Mr Trump is forced to withdraw from the race. "Mr Trump has 40% ratings and Ms Haley is in single digits, but she is our candidate. Her being Indian-American is the main reason why we are close to her," he says.
Irrespective of political differences, the Indian-American community is happy about the sharp increase in their political participation, especially over the last three election cycles, and is proud of the rise of another of their own.
"A beautiful thing is happening: Indian-Americans are coming to the forefront," Mr Gaekwad says, adding that the latest bid could encourage more Indian-Americans to run for elections even at the local level.
Even political opponents agree with that.
"If our children see Americans with a name like Ramaswamy run, and a Khanna or Krishnamoorthi can win, that's a good thing," Mr Narasimhan says.-bbc
Chinese factories boom while Japan's are in reverse
Manufacturers in Asia's two biggest economies are performing very differently after the pandemic.
Factory activity in China expanded last month at the fastest pace in more than a decade, official figures show.
However, in Japan manufacturing activity shrank in February at the fastest pace in over two years.
Firms around the world are balancing reopening as Covid restrictions ease against rising costs of everything from energy to workers' wages.
China's manufacturing purchasing managers' index (PMI) rose to 52.6 from 50.1 in January, according to China's National Bureau of Statistics. It was the highest monthly reading since April 2012.
PMIs are a measure of economic trends which provide businesses, central banks, governments and investors important information about current and future business conditions.
The PMI is shown as a number from 0 to 100. A reading above 50 shows expansion in activity compared to the previous month. A number below 50 indicates contraction. The further the figure is away from 50 the greater the amount of change.
China's much better-than-expected performance came after the strict coronavirus measures in the world's second largest economy were eased late last year.
The country saw one of its worst years in nearly half a century in 2022 due to widespread lockdowns and outbreaks of Covid-19.
Can the next Bank of Japan boss fix its economy?
Japan was the future but it's stuck in the past
Meanwhile, in Japan a private manufacturing PMI fell to 47.7 in February from January's 48.9, marking the fastest fall since September 2020.
The data underscored the major issues faced by businesses in the country - which is the world's third largest economy - including a global slowdown, the soaring cost of raw materials and calls for firms to raise wages for their workers to help ease a cost of living crisis.
The figures came a day after Japanese government data showed the country's factories, notably car makers and computer chip producers, cut output in January at the fastest rate in eight months.-bbc
Call to help 'mortgage prisoners' trapped on high interest rates
The government made £2.4bn by selling mortgages from collapsed lenders to investment firms, a report funded by Martin Lewis has suggested.
Some 200,000 mortgages were sold to firms which cannot offer new deals. Many homeowners are stuck on high rates as other lenders will not accept them.
The founder of the MoneySavingExpert website is calling on the government to free so-called "mortgage prisoners".
The Treasury said it would consider all proposals put forward.
'Mortgage prisoners' sue over 'unfair' rates
Samantha has been stuck with her mortgage since the 2008 financial crisis. She told the BBC her payments, which were £546 a month last year, are due to rise to £952 next month.
"I spend my whole time panicking, worrying all the time," she said. "I don't sleep most nights."
Mr Lewis said: "This report lays out starkly that the state sold these borrowers into poverty, knowing it could cause them harm, and made billions doing it.
"The result has destroyed lives. People have been left in financial, physical and mental misery, exacerbated by the pandemic and cost of living crisis ripping through their already dire situations."
Trapped
Samantha got a mortgage on her two-bedroom terraced house with her ex-husband in 1998, and re-mortgaged with Northern Rock two decades ago.
When the bank collapsed, her loan was one of thousands sold by the government to so-called "closed book" lenders.
These are largely investment firms that are not regulated to offer new mortgages, which means people with loans can't get a cheaper rate through them.
Moving to a different, cheaper mortgage is almost impossible for many because they don't meet strict lending criteria brought in following the crisis.
'Ruining my life'
Samantha, who works as an office manager in Swindon, has an interest-only mortgage on £150,000.
The Bank of England has been hiking interest rates, but her lender has also been raising rates independently as well, she said. The rate increased to 8.14% this month, from 7.69% last month, she said.
"I borrow money all the time off my mum," Samantha said. "I shouldn't have to be like this just for a mortgage."
She said hikes in the cost of living have heaped "massive" pressure on her, to the extent where she can't afford to go to the hairdressers, or to spend even small amounts on presents.
People ask her why she doesn't just sell her home, but she says that would be to lose everything, and she wouldn't be able to get another mortgage.
"It's so hard," she said. "It's the bane of my life. It's ruining my life."
'Sold by the state'
The report, which the website's founder Martin Lewis commissioned from the London School of Economics, puts forward costed solutions to the problem.
It said the government could offer free financial advice and loans to mortgage prisoners. As a fall-back option, it could guarantee loans from other mortgage lenders.
The report suggested that measures to solve the problem would cost between £50m and £347m over 10 years.
The Treasury said that it had "already taken steps with the Financial Conduct Authority [FCA] to update mortgage lending rules, removing the barrier that prevented some mortgage prisoners from being able to switch".
"We are open to further practical and proportionate solutions to help mortgage prisoners, working with the FCA and industry to carefully consider all proposals put forward," a spokesperson said.
The FCA said: "We recognise the difficult circumstances faced by affected mortgage borrowers, who cannot switch and could benefit from doing so.
"We removed regulatory barriers to switching and set clear expectations for firms to support borrowers in financial difficulty and the fair treatment of vulnerable customers," it said.-bbc
Bank of England boss says UK interest rates may rise further
Interest rates may need to go up again to slow the cost of living down, Bank of England boss Andrew Bailey has said.
Mr Bailey said raising rates higher may be "appropriate" to control inflation but said nothing was decided yet.
Raising interest rates helps to control price rises by making it more expensive to borrow money. People tend to borrow less, spend less and save more.
The next rate decision is on 23 March and Mr Bailey said the Bank would assess the latest data before deciding.
"I would caution against suggesting either that we are done with increasing Bank Rate, or that we will inevitably need to do more," Mr Bailey said at an event hosted by public relations firm Brunswick Group.
"Some further increase in Bank Rate may turn out to be appropriate, but nothing is decided. The incoming data will add to the overall picture of the economy and the outlook for inflation, and that will inform our policy decisions."
In February, the Bank raised rates to 4%, the highest level for 14 years. Analysts believe the rate will peak at 4.5% in the summer.
How high could interest rates go?
Mr Bailey had previously said inflation - the rate at which prices rise - and wages data since February's rise had been as expected, which some took as a signal rates would not go up in March.
He warned that the Bank faces a difficult balancing act.
"If we do too little with interest rates now, we will only have to do more later on," he said.
He said the Bank needed to keep a close eye on how the interest rate rises it had already made were working to bring prices down.
Inflation has fallen for three consecutive months to 10.1% after hitting a record high of 11.1% in October.
It is currently more than five times the Bank's inflation target of 2%. The Bank expects the rate of inflation to fall further this year, with energy bills forecast to rise a lot less than they did last year.
Eating out less
The Bank also released its annual survey on the cost of living which found households were changing their buying habits to cope with higher prices. The survey found that people were eating out less, cancelling subscription services, and switching to supermarket own-brand foods.
Prices have been going up quickly worldwide, as Covid restrictions eased and consumers spent more.
Many firms are having problems getting enough goods to sell. And with more buyers chasing too few goods, prices have increased. There has also been a very sharp rise in oil and gas costs - a challenge that has been made worse by Russia's invasion of Ukraine.
The Bank has predicted the UK will slide into recession - a period of economic decline - but this will not be as long or as severe as it previously thought.-bbc
BA-owner and EasyJet hold millions of unclaimed travel vouchers
Passengers of BA-owner IAG and rival EasyJet have yet to reclaim some €724m (£643m) in travel vouchers going back to the beginning of the pandemic.
IAG, which owns five airlines including Aer Lingus and Iberia, said it had about €600m (£533m) in vouchers issued when flights were cancelled.
EasyJet's most recent results suggested it had £110m in unclaimed vouchers.
The practice of issuing vouchers attracted criticism because many people wanted a cash refund instead.
Aviation consultant and former IAG employee Robert Boyle, who flagged the IAG figures, said that when airlines were forced to cancel a huge number of flights during the pandemic they encouraged customers to accept vouchers for future travel rather than issue refunds.
Given so many vouchers have yet to be redeemed Mr Boyle questioned how many of the vouchers will ever be used.
The rate of voucher use might increase as the expiry date approaches he said: "But if even 20% of the original €1.4bn [£1.24bn] of vouchers expire unused, that would be a €280m [£248m] release to profit".
"However, if the vouchers are never used, IAG will have extra seats available to sell. Given what has happened to ticket prices since the pandemic, the cash value of those seats will be even bigger than the reported voucher values."
Woman single-handedly takes on BA and wins
'I don't want a flight voucher, where's my refund?'
Both BA and EasyJet have extended the expiry date of their vouchers several times.
In its most recent set of results EasyJet said no vouchers had expired yet as expiry dates had been extended "to ensure customers have the maximum opportunity to utilise their vouchers".
The airline said the number of unused vouchers at the end of its last financial year on 30 September equated to £110m , or 2% of its ticket revenue in 2019, so there was a "very small proportion of customers who have not yet used their vouchers".
"And it is also worth noting that the number will have reduced since then as five months have passed - including a busy booking period at the turn of year.
BA's will now run out in September 2023, though the airline said it was "always reviewing that".
It said last year 700,000 vouchers were used and it was sending reminders to customers holding outstanding ones.
Airlines, including BA, faced accusations during the pandemic of making it difficult for people to claim a refund.
BA said when a flight was cancelled it always offered the option to get a full refund, rebook or reroute. It never automatically issued vouchers, which had to be requested by a passenger.
But it said it recognised that during the height of the pandemic it could not offer "all the usual channels for customers to request a refund".
As a result, it added, if a customer had been due to travel on a flight cancelled by the airline between 9 March 2020 and 19 November 2020 and they opted for a voucher, BA had already contacted them to offer a full refund.-bbc
China hits out at US over TikTok ban on federal devices
China has accused the US of overreacting after federal employees were ordered to remove the video app TikTok from government-issued phones.
On Monday, the White House gave government agencies 30 days to ensure that employees did not have the Chinese-owned app on federal devices.
The order follows similar moves by the EU and Canada in recent weeks.
A spokesperson for China's foreign ministry accused the US of abusing state power to suppress foreign firms.
"We firmly oppose those wrong actions," spokeswoman Mao Ning told reporters during a news briefing on Tuesday. "The US government should respect the principles of market economy and fair competition, stop suppressing the companies and provide an open, fair and non-discriminatory environment for foreign companies in the US."
"How unsure of itself can the world's top superpower like the US be to fear young people's favourite app like that?" she added.
Western officials have become increasingly concerned about the popular video sharing app - which is owned by Chinese firm ByteDance - in recent months.
However, Australia said it had not received any advice from its intelligence services recommending that it follow the examples of the US, the EU and Canada.
TikTok has faced allegations that it harvests users' data and hands it to the Chinese government, with some intelligence agencies worried that sensitive information could be exposed when the app is downloaded to government devices.
The company insists it operates no differently to other social media companies and says it would never comply with an order to transfer data.
On Monday, US Office of Management and Budget Director Shalanda Young told agencies they had to scrub the app from all state-issued phones to protect confidential data.
The agency said the guidance marked a "critical step forward in addressing the risks presented by the app to sensitive government data".
Some federal offices - including the White House and the Departments of Defence, Homeland Security and State - have already banned TikTok from their devices.
The US Federal Chief Information Security Officer Chris DeRusha said the move emphasised the Biden administration's "ongoing commitment to securing our digital infrastructure and protecting the American people's security and privacy".
Tuesday's announcement follows the passage of legislation by the US House of Representatives in December which banned the use of TikTok on state-issued phones and gave the White House 60 days to issue agency directives.
And congressional Republicans are expected to pass further legislation in the coming weeks which would give President Joe Biden the power to ban the app nationally.
"We hope that when it comes to addressing national security concerns about TikTok beyond government devices, Congress will explore solutions that won't have the effect of censoring the voices of millions of Americans," a TikTok spokesperson told the BBC.
Canada has also imposed a new ban on the app on government devices starting from Tuesday. The decision followed a review conducted by the country's chief information officer, who ruled the app presented "an unacceptable level of risk to privacy and security".
Prime Minister Justin Trudeau said there was enough concern about security around the app to require the change.
"This may the first step, this may be the only step we need to take," he said on Monday at a press conference near Toronto.
And the European Parliament also approved a ban on the app on staff phones, following the European Commission's move last week.
A TikTok spokesperson told the BBC that the bans had been adopted "without any deliberation" and amounted to "little more than political theatre".-bbc
Tesla to build new factory in Mexico
Tesla is planning to build a new factory in Mexico, joining other carmakers bulking up their presence south of the US border.
Mexico President Andres Manuel Lopez Obrador said the plant for the electric car firm would be in Monterrey, which is about a three-hour drive from Texas.
Tesla is expected to share more in presentation to investors on Wednesday.
Mexico had previously raised concerns about how water demands from the factory might affect the region.
But Mr Lopez Obrador said he had won commitments from Tesla boss Elon Musk that had helped ease those worries.
Mexico is trying to position itself as a winner as tensions between the US and China disrupt traditional supply chains.
"This will represent a considerable investment and many, many jobs," Mr Lopez Obrador said at a news conference on Tuesday.
US President Joe Biden has emphasised made-in-America rules for cars to qualify for new subsidies included in a massive spending plan approved to tackle climate change last year.
But the rules provide exceptions for Canada and Mexico, which has seen its role in car manufacturing grow as American firms look outside the country to reduce costs.
This would be Tesla's third factory outside of the US, after the firm opened plants in China and Germany in recent years.
Reuters reported the newest Tesla factory represented an initial $1bn investment, which could grow to be $10bn over time.
Martha Delgado, a Mexican deputy foreign minister, told Milenio Television the investment was worth "in excess of $5 billion" and that the factory would produce about one million vehicles per year.
Another unnamed Mexican official told Reuters news agency the plant would be a Tesla "gigafactory" that will produce vehicles including their truck and sports car.
The company did not respond to a request for comment on its latest expansion.
Tesla, like other carmakers, is anticipating that electric car purchases will grow rapidly in the years ahead as drivers turn to greener modes of transport.
The confirmation of Tesla's plans comes just a few weeks after BMW said it would be investing in a factory in Mexico. Ford also manufactures its electric SUV in the country.
General Motors announced plans to build a plant for electric cars in Mexico last year, prompting the United Auto Workers trades union to describe the decision as a "slap in the face".
In Mexico, the investments have been closely watched as a test of the investment climate under Mr Lopez Obrador, a left-wing populist, who was elected in 2018.-bbc
Building giant set to switch share listing to US
Building materials giant CRH is planning to move its main share listing from the UK to the US, in a further blow to the London stock market.
The Ireland-based firm said North America now accounted for about three-quarters of its earnings and was likely to be "a key driver of future growth".
The move is likely to add to concerns that the UK's stock market is losing out to overseas rivals.
Reports suggest UK tech firm Arm may also list its shares in New York.
Chip designer Arm used to be a member of the FTSE 100 share index of top UK firms, but was bought by Japanese conglomerate Softbank in 2016.
Recently, Softbank has been looking to list Arm's shares after a planned sale to US firm Nvidia fell through.
The UK government has reportedly been lobbying hard for the company to choose the London stock market.
However, Bloomberg has reported that Arm is going to reject the UK and aim to list its shares in New York later this year.
A number of takeovers of firms listed in London has increased concerns that the UK market is declining in importance, and is failing to attract fast-growing tech firms.
CRH announced its plans to change its share listing as it reported strong sales and earnings for the past year.
The company - which supplies products such as asphalt, cement and paving - saw sales climb 12% last year to $32.7bn (£27.3bn) with earnings rising 13% to $5.6bn.
CRH said moving its main share listing to the US would bring "increased commercial, operational and acquisition opportunities" for the firm, and it would now consult its shareholders over the plans.
If CRH does decide to switch, it will be following in the footsteps of plumbing and heating product firm Ferguson which moved its main listing to the US last year.
Last month, betting firm Flutter said it was thinking of a US share listing, and earlier this week, the Financial Times reported that oil giant Shell - the largest company on the London stock market - had considered moving its shares to the US market in 2021.-bbc
Liberia: LERC Bids Farewell to EU-LTTA Team
The Board of Commissioners (BoC) and staff of the Liberia Electricity Regulatory Commission (LERC) have bid farewell to the European Union (EU) Long Term Technical Assistance (LTTA) team assigned to support the Department of Energy (DoE) at the Ministry of Mines and Energy (MME) and the Commission.
The three-year assistance was funded by the EU and was intended for capacity building and institutional support to the two institutions, respectively. Members of the EU-LTTA team included Messrs. Michael Opam, Francis Gbeddy, and Emmanuel Sekor.
Dr. Lawrence D. Sekajipo, Chairman of the BoC speaking at honouring program thanked the EU and paid tribute to the EU-LTTA team and attributed the level of success at the "Commission to the coaching, guidance and teaching provided to LERC's technical staff management and BoC in the development of key regulatory instruments and tariff development".
Dr. Sekajipo outlined several milestones, accomplishments and recognition under their tutelage that include: the development of key regulatory instruments for the electricity supply industry of Liberia, which led to the licensing of the Liberia Electricity Corporation (LEC), Jungle Energy Power (JEP) and the issuance of permit to the Totota Electric Cooperative (TEC) as well as facilitating the liberalization and efficient operation of the electricity sector.
The Deputy Minister for Energy at the MME Mr. George Gontor also speaking at the occasion thanked the EU for providing technical support to the MME and LERC. MME is prepared and ready to lead the energy sector in Liberia.
The Chairman of the Board of Directors and Chief Executive Officer (CEO) Monie Captan lauded the Commission for taking ownership of the various regulations during the mentoring and capacity building provided by the EU-LTTA.
Mr. Captan said the Commission is "fortunate to have an experienced and committed leadership and staff which have immensely contributed to its rapid growth in the energy sector in the region and Africa ".
It is important that regulators stay true to their core functions and too often regulators become tax collectors and that is when you lose focus and become a revenue generating Commission. "I pray that LERC does not fall into that trap", he noted.
At LEC, Mr. Captan pinpointed, under his leadership of five months at the Corporation has achieved so much that 10 years of expatriates' leaderships could not achieve. He explained the Corporation revenue is now experiencing rapid growth.
In separate remarks, Messrs. Opam, Gbeddy, and Sekor thanked the National Authorizing Office at the Ministry of Finance and Development, Commission and DoE at the MME for the support and cooperation during their stay in Liberia. The team promised to always provide support to the Commission whenever they are called upon.
They charged members of the Commission to stay and remain focused on their regulatory duties. The issuing of regulations is not regulating but ensuring that these regulations are adhered to.
The ceremony was graced by representatives from the NAO, MME, LEC, Commissioners and the management and staff of the Commission.
-New Dawn.
Liberia: Arcelormittal Liberia Inducted Into Liberia Chamber of Mines, Reinforces Commitment to Liberia
Monrovia — ArcelorMittal Liberia along with other mining companies and businesses has been inducted into the Liberia Chamber of Mines. The Liberia Chamber of Mines is a consortium of mining companies and businesses established to help strengthen the role of the sector actors in advancing the mining industry of Liberia and complementing the government's efforts in achieving its development goals.
Speaking at the membership induction ceremonies, the President of the Liberia Chamber of Mines said the business group is tasked with the responsibility of creating a platform where sector actors' voices and grievances could also be channelled through dialoguing with the rightful authority. Kamara reminded guests at the event that there are lots of challenges ahead of the Chamber and Liberia, regarding the mining sector and its related activities.
The certificate of membership on behalf of AML's CEO Jozephus Coenen was received by Marcus Wleh, the Head of External Affairs and Sustainability. In a formal presentation that followed, Wleh recalled that it is nearly 17 years since ArcelorMittal made a bold entry and a major investment into Liberia, thus resuscitating its mining industry destroyed as a result of civil war.
ArcelorMittal was the first large business to show such belief in the country when in 2005, it signed a Mineral Development Agreement with the Liberian government to initiate an iron ore mining project in the country. In 2006, ArcelorMittal was the first and single largest private investor in the country since the civil wars, and its commitment to Liberia led the way in demonstrating the viability of a prosperous business in Liberia.
Wleh noted that since then, other companies, large and small, have followed AML's lead, providing more job opportunities and economic stability throughout the country.
He also shared the vision of ArcelorMittal Liberia and the huge prospects for a better and brighter future for the company and Liberia, with the ongoing massive expansion of operations, following the signing of a landmark third amended Mineral Development Agreement (MDA) with the Government in September 2021.
The ArcelorMittal Liberia Phase II expansion project is one of the largest mining projects in West Africa and encompasses processing, rail, and port facilities, including the construction of a new concentration plant and the substantial expansion of mining operations ramping up from 5mpta to 15 million tonnes per annum ('mtpa').
The Head of External Affairs and Sustainability at ArcelorMittal Liberia disclosed that Phase II will see a significant increase in jobs, with 2000 additional jobs during the construction phase and about 1000 additional permanent operation jobs. He emphasized that AML's journey into the future is guided by a commitment to health and safety that ensures and upholds the highest possible safety standards in the project execution as fundamental to its success.
The inductees received certificates confirming their status as bonafide members of the Liberia Chamber of Mines, with all rights, privileges, and opportunities appertaining to members.
The first-anniversary celebration of the Chamber of Mines was attended by officials of the Ministry of Mines of Liberia, members of the diplomatic corps, including the United Nations Resident Coordinator in Liberia.
-FrontPageAfrica.
Uganda: KCCA Tasked On Delayed Pay of Casual Workers
Kampala, Uganda — Parliament's Committee on Public Accounts - Commissions, Statutory Authorities and State Enterprises (COSASE) has put Kampala Capital City Authority (KCCA)'s technical team to task over delayed payment of causal workers who have gone for months without pay.
Led by KCCA Executive Director Dorothy Kisaka, the technical team was also queried over non-remittance of statutory payments like National Social Security Fund (NSSF) contribution for workers and pay as you earn.
MPs were also not happy with KCCA's perennial governance quarrels pitting the Lord Mayor, Erias Lukwago against the authority's technical wing, paralyzing progress in the city.
These concerns were noted by the Auditor General in the report of Financial Year 2021/22.
Kisaka said the authority will, going forward, pay the casual workers on time.
"We are in the process of streamlining our casual workforce's payments so that they are paid on time in future," she said.
Committee Chairperson, Joel Ssenyonyi asked Kisaka to make haste in righting the payments anomaly.
"The pay is little and then it also comes late; let us avoid double trouble and pay those workers on time. Why would you hire 2000 workers when you know you cannot remunerate them," he said.
Kisaka was questioned by Muwada Nkunyingi, Kyaddondo East MP over claims by the Lord Mayor Lukwago that she undermines the political leadership in violation of the Kampala Capital City Authority (Amendment) Act 2019.
She defended herself against the accusations.
"We facilitate the review of the budget proposals [by the Executive Committee]; I am not a member of council so I work through the City Executive Committee headed by the Lord Mayor; that is something that we consistently perform," she said.
On the non-remittances, Kisaka blamed lack of finances for the challenge, and said if the Ministry of Finance does release the funds, the payments will be duly made.
The authority's technical wing will be busy with COSASE in coming days following queries from the Auditor General and accusations of intransigence and inflation of project costs by Lord Mayor Lukwago.
-Independent (Kampala).
Kenya: Panic Grips Coffee Farmers in Mt Kenya Following Fears of Low Returns
Nyeri — Panic and fear has gripped coffee farmers in Mt Kenya region following the realization of poor prices at this year's coffee auction.
Following imminent poor pay, coffee farmers and their leaders now want the Kenya Kwanza administration to set up a stabilization fund to cushion farmers and preempt abandonment of the crop termed as black man Gold.
Speaking to the media Nyeri town MP Duncan Maina a member of a group of leaders championing the rights of farmers said that it is apparent that the 2020/2022 crop will be poorly paid when one examines current prices at the auction.
"For us, as leaders it's clear that this time around farmers will be paid poorly with pay expected to decrease by Sh100, we have realized that although this year's early crop was more compared to other years, prices at the auction were low and this will definitely lower returns and that is why we are demanding a fund similar to the Price Stabilisation (Stabex) funds and coffee development fund," said Maina.
According to statics from the auction, this year's early crop realized low prices of between USD180 and 200 for 50 kilograms of clean coffee as opposed to high prices of between USD300 to 500 for the 2019/2020 crop.
Maina says that he is disappointed by the supplementary budget which was presented to the assembly as it lacks no provision for money to cushion farmers or even provide subsidies to the crop.
"Kenya Kwanza government rode on the promise of guaranteed maximum price for coffee and tea farmers however it's unfortunate that we have no money meant for farmers in the two sectors, this will complicate matters for our government since farm inputs are out of reach for our farmers and worse still they will be paid less," said Maina.
He said that it is high time for government planners to take coffee farming seriously since the crop and tea are the leading exchange earner for the nation.
John Gitonga Ngatia a farmer from Kamuyu said that unless the government moves in, they will surely be paid less as compared to last year when they were paid between Sh100 and 120 per raw kilo of cherry
"It is unfortunate that this government has come too late in the day to realize that we will be paid poorly and they promised us that we will have a minimum paid price but we have our votes intact we will wait but we will act in the ballot box eventually " said Ngatia.
In January, Deputy president Rigathi Gachagua was tasked to oversee the coffee and tea sectors in a move aimed at improving the fortunes of farmers.
On his appointment, Gachagua declared war on cartels which he said have been milking farmers dry taking huge chunks of farmers' hard-earned money only to pay them peanuts.
-Capital FM.
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