A fresh effort is under way to refloat a giant container ship blocking Egypt’s Suez Canal. Canal authorities say 14 tugboats are trying to take advantage of Saturday’s high tide…
Category: Business News
Egypt: Ships stuck in Suez Canal ‘traffic jam’ as salvage efforts continue
The blockage of Egypt’s Suez canal by a giant container ship is causing a “traffic jam” in the Red Sea, according to a merchant seaman on a nearby ship. Joe…
China: Western clothes brands vanish as backlash grows
China is targeting more Western clothes retailers as international backlash grows over claims of abuses in the cotton-growing Xinjiang region. Several major brands have expressed concern over allegations that members…
Egypt: Suez blockage is holding up $9.6bn of goods a day
The stranded Ever Given mega-container ship in the Suez Canal is holding up an estimated $9.6bn (£7bn) of goods each day, according to shipping data. This works out at $400m…
South Korea: Too many chips made in Asia
Intel’s new chief executive has told media it is not “palatable” that so many computer chips are made in Asia. The majority of processors are currently manufactured in the region,…
China: Nike, H&M face Chinese fury over Xinjiang cotton ‘concerns’
Retail giants Nike and H&M are facing a backlash in China after they expressed concern about the alleged use of Uighur forced labour in cotton production. Many Chinese have called…
UAE: British artist’s giant painting raises £45m for children’s charities
The world’s largest painting, which was created by British artist Sacha Jafri, has been sold for £45m to raise funds for children’s charities. Jafri spent eight months painting the 1,600…
USA: Auto worker employee receives 91,500 pennies in final wages
An auto repair shop in Georgia has been accused of delivering a final wage package to a departing employee by dumping a pile of oil-covered pennies on his driveway –…
UK: Government looking at ‘all options’ for Liberty Steel
The government is looking at all options to make sure Liberty Steel does not collapse, Business Secretary Kwasi Kwarteng has told MPs. Mr Kwarteng told the House of Commons he…
Egypt: Owner of cargo ship blocking Suez Canal apologises
The Japanese owner of the giant cargo ship that has been blocking Egypt’s Suez Canal since Tuesday has apologised for the disruption to global trade. Shoei Kisen Kaisha said it…