Category Archives: Business

TikTok ‘tried to filter out videos from ugly, poor or disabled users’

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Documents from the Incercept show social media app put pressure on moderators

TikTok moderators were told to suppress videos from users who appeared too ugly, poor or disabled, as part of the company’s efforts to curate an aspirational air in the videos it promotes, according to new documents published by the Intercept.

The documents detail how moderators for the social video app were instructed to select content for the influential “For You” feed, an algorithmic timeline that is most users’ first port of call when they open the app. As a result, being selected for For You can drive huge numbers of views to a given video, but the selection criteria have always remained a secret, with little understanding as to the amount of automation involved.

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British American Tobacco circumventing ad ban, experts say

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BAT seems to be running accounts to promote e-cigarettes after crackdown on hiring influencers

British American Tobacco (BAT) is marketing e-cigarettes and heated cigarettes with pictures of attractive models and using hashtags such as “I dare you to try it”, despite a crackdown last year after it paid social media influencers to promote its products.

BAT had come under fire after hiring young models to sell its products despite having an explicit policy banning under-25s from appearing in adverts.

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Apple fined record €1.1bn by French competition regulator

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Tech giant conspired with wholesalers Tech Data and Ingram Micro to align prices, says watchdog

Apple has been fined a record €1.1bn (£990m) by antitrust regulators in France for engaging in anti-competitive agreements with two wholesalers. The penalty imposed on the US tech giant is the largest ever handed out to a company by the Autorité de la Concurrence.

Commenting on the move, Isabelle de Silva, head of the French competition watchdog, said: “Apple and its two wholesalers agreed to not compete against each other and prevent resellers from promoting competition between each other, thus sterilising the wholesale market for Apple products.”

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Markets plunge despite coordinated action by central banks

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Sharp losses recorded after US interest rate cut, as Bank of England hints at further support to combat turmoil

The FTSE 100 fell below 5,000 points on Monday and trading on Wall Street was suspended for the third time in a week as markets were gripped by mounting concerns over the threat of a global recession, despite a coordinated effort by central banks to protect growth and jobs.

In an escalation of the worst turmoil since the 2008 financial crisis, stock markets suffered further sharp losses on Monday despite dramatic action taken by the US central bank late on Sunday in an attempt to limit the economic impact of the coronavirus pandemic.

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Airlines make dramatic cuts to services and call for state bailouts

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Aviation consultancy warns that international industry could collapse within months


Major airlines including British Airways, Ryanair, easyJet and Virgin Atlantic announced a dramatic scaling-back of their operations on Monday, including plans to cancel the majority of their flights and ground thousands of planes, with experts and industry executives calling for government bailouts to avoid bankruptcies.

The moves came as an aviation consultancy warned that the international airline industry will collapse within months, with the loss of hundreds of thousands of jobs, unless states worldwide inject billions of dollars of emergency funding to see it through the coronavirus “catastrophe”.

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West Saharan group takes New Zealand superannuation fund to court over ‘blood phosphate’

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Independence movement lodges documents in high court arguing $45bn fund invests in illegally mined fertiliser

The Western Sahara liberation movement has taken New Zealand’s superannuation fund to the country’s highest court over its investments in farms that use phosphate illegally mined in the occupied territory.

New Zealand is one of the few remaining countries – and last western nation – that accepts imports from the contested territory in West Africa, forcibly occupied by Morocco since 1975. Morocco’s claims to the territory are largely unrecognised internationally.

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Jet2 planes turn around in mid-air as firm cancels Spain flights

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LOT Polish Airlines has also suspended flights from Poland and Hungary for 10 days

Jet2 planes heading to Spain turned back in mid-air on Saturday as the airline cancelled all flights to the country because of the Covid-19 pandemic.

The decision follows a sharp increase in infections in Spain and a rise in the death toll to 120. The government has declared a two-week state of emergency and placed 60,000 people in four towns under mandatory lockdown on Friday.

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Fed bids to shore up confidence after worst week in 12 years

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Pledges of help from EU, China and Germany plus declaration of US emergency produce mild rally after torrid week

The world’s most powerful central bank, the US Federal Reserve, is preparing a fresh attempt to shore up investor confidence despite a late rally on Wall Street on Friday that ended a torrid week for stock markets on a more positive note.

Fresh pledges of help from China, Germany and the European commission combined with Donald Trump’s declaration of a national emergency over coronavirus to reassure investors after an ordeal for equities on both sides of the Atlantic that echoed the depths of the banking crisis.

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BA says jobs will go as airline industry faces crisis ‘worse than 9/11’

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Coronavirus memo says British Airways will be ‘parking aircraft in a way we never have before’

British Airways has warned staff it is in a fight for survival and expects to make job cuts and ground an unprecedented number of planes, as it said the coronavirus pandemic has caused a crisis “worse than 9/11” for the airline industry.

BA’s chief executive, Alex Cruz, said in a message to 45,000 employees entitled “The Survival of British Airways” that the airline would be “parking aircraft in a way we never have before” after the drop in demand was compounded by the shock US travel ban from Europe announced on Wednesday night. It came as the German media reported that the country’s flagship carrier, Lufthansa, might ground most of its fleet and ask for state aid in the wake of Donald Trump’s surprise move.

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Qantas repays more than $7m to staff it underpaid for up to eight years

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Airline has so far paid back 638 head-office staff, Fair Work Ombudsman says, and agreed to give every affected worker an additional $1,000

The Fair Work Ombudsman has said Qantas is paying back millions of dollars to hundreds of workers it underpaid for up to eight years.

The airline had so far paid back $7.1m to 638 staff at head office who were underpaid between June 2011 and June 2019, the ombudsman said on Friday.

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Budget 2020: read the small print on spending pledge, urges IFS

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Thinktank praises Covid-19 response but says ‘splurge’ relies on already announced plans

Rishi Sunak’s first budget is not as generous as it seems and will leave many Whitehall departments worse off than they were before the spending squeeze began in 2010, according to Britain’s foremost economics thinktank.

The Institute for Fiscal Studies said the chancellor made the budget sound more substantial than it was, while relying on previously announced spending plans.

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Budget 2020: UK to launch £800m ‘blue skies’ research agency

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Brainchild of Dominic Cummings will seek to return Britain to its ‘pioneering scientific roots’, says chancellor

The government will pump at least £800m into a new “blue skies” science research agency as part of a series of pro-business measures designed to boost Britain’s competitive edge.

The UK agency, the brainchild of Boris Johnson’s closest political adviser Dominic Cummings, will fund “high-risk, high reward science” and will be modelled on theAdvanced Research Projects Agency (ARPA) in the US.

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Wall Street ends 11-year ‘bull market’ as coronavirus fears spread

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US stock markets have been on an unprecedented streak since 2009, a bull market of gains

Wall Street’s record-breaking 11-year “bull market” came to an end on Wednesday as fears about the spreading Covid-19 pandemic hit stock markets again.

US stock markets have been on an unprecedented streak since 2009, a bull market of gains. On Wednesday investors sold off shares across all sectors after the World Health Organization declared the outbreak a pandemic for the first time and criticized “alarming levels of inaction” by governments in corralling the virus.

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Businesses affected by coronavirus should have access to disaster relief funds, says Queensland

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State says virus ‘is no different’ to floods, cyclones and bushfires as it prepares to ramp up pressure at Coag meeting

Queensland will use the upcoming meeting of state leaders and the prime minister to appeal to the federal government to open up its natural disaster assistance payments to local industries impacted by the coronavirus.

Scott Morrison has previously rejected Queensland’s request for the disaster recovery funding arrangements to be made available for businesses knocked by the economic slowdown resulting from Covid-19 on 4 February, and again on 28 February.

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Coronavirus live updates: Italy-wide lockdown comes into force

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UK and US had worst days trading since 2008 GFC; Global cases near 110,000; Grand Princess passengers disembark. Follow the latest news.

As the whole of Italy goes into lockdown, there are some reassuring signs that measures are starting to work. Across the 11 towns that went into quarantine over two weeks ago, the number of cases is beginning to fall.

Virgin Atlantic has called on the European Commission and UK flight slots co-ordinator to relax rules amid the coronavirus outbreak, PA reports.

Chief executive Shai Weiss said: “Last month Virgin Atlantic and industry partners committed to achieving net zero carbon by 2050.

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Human rights activist ‘forced to flee DRC’ over child cobalt mining lawsuit

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Landmark legal action against world’s biggest tech companies lead to death threats, says activist Auguste Mutombo

A Congolese human rights activist has said he was forced to flee the country with his family after being linked to a lawsuit accusing the world’s largest tech companies of being complicit in the deaths of children in cobalt mines in the Democratic Republic of the Congo (DRC).

In December, the Guardian revealed that a group of families from DRC were launching landmark legal action against Apple, Google, Tesla, Microsoft and Dell. They claim they aided and abetted the deaths and injuries of their children, who were working in mines that they say were linked to the tech companies.

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FTSE on course for biggest fall since financial crisis

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World markets plunge on back of coronavirus-driven recession fears and threat of oil price war

Global stock markets have suffered their biggest falls since the 2008 financial crisis and trading was temporarily suspended on Wall Street after an oil price crash rattled investors fearing a coronavirus-driven global recession.

Dealing in shares on the main US indices was frozen within minutes of the opening bell, as circuit breakers were triggered by a 7% fall on the S&P 500. Once trading resumed 15 minutes later, the Dow Jones Industrial Average completed a fall of more than 2,000 points for the first time ever – a fall of more than 7%.

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Saudi Arabia price war wipes billions from value of major oil firms

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Royal Dutch Shell and BP lose more than £32bn from their combined market value

Saudi Arabia’s oil price war has wiped billions of pounds from the market value of the industry’s biggest companies after oil markets recorded one of the biggest price slumps in history.

The decision of the world’s largest oil-producing nation to increase its production even as the coronavirus outbreak stalls global oil demand triggered a 30% drop in oil prices on Monday morning.

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Coronavirus live updates: fifth death confirmed in UK, as head of New York’s airports tests positive

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With cases spiking sharply across Europe and emergency measures in place from California to Saudi Arabia, investors have sent shares tumbling

US authorities are planning a flight tomorrow to repatriate Britons on the coronavirus-hit Grand Princess cruise ship.

The UK Foreign Office issued the following statement:

We continue to work closely with the US authorities to repatriate British nationals on board the Grand Princess. The US are currently planning for a flight to leave tomorrow evening, returning to the UK on Wednesday afternoon. We remain in contact with all British nationals on board and will continue to offer support.

Chinese authorities reportedly scrambled to move people out of quarantine hotels which need full safety inspections after the deaths of at least 10 people in a collapsed hotel.

Joanna Davison, an English teacher, and her partner were suddenly placed in enforced isolation in Shenzhen after a ferry trip about 10 days ago. On Thursday, she told the Guardian she endured a “terrifying” experience as five people in hazmat suits came to test them at her home before they were whisked to quarantine.

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Oil price plunges 20% as Saudis vow to step up production

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Move follows Russian refusal to join Opec-led production cut aimed at keeping prices high

The price of crude oil has plunged by more than 20% after Saudi Arabia, the world’s top oil exporter, said it would step up production from next month, flooding global markets and most likely depressing petrol and diesel prices.

Brent crude futures slid 30% to $31.02 a barrel in chaotic trade on Monday morning, before recovering slightly to $36.06, a drop of 20% on Friday night’s close. It was the worst one-day fall for brent since the start of the first Gulf war in 1991. US crude fell 27% to $30.

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