Anglo American PLC (AAL.L) announced on Thursday a reduction in workforce at its Brisbane office and nearby coal mines in Queensland, Australia, as part of its strategy to streamline operations and address the dual pressures of declining coal prices and escalating costs. The exact number of job cuts remains undisclosed, but the move follows a similar decision by BHP Group Ltd (BHP.AX), which recently eliminated 750 positions at a coking coal mine in the same region due to unfavorable market conditions and increased state royalties. Ben Mansour, Vice President for People and Corporate Relations at Anglo American Australia, emphasized that these adjustments are crucial for the sustainability of the company’s steelmaking coal operations in Central Queensland. He noted that the majority of the reductions were achieved through voluntary redundancies. According to Australia’s ABC News, citing the Isaac Regional Council, approximately 200 positions at Anglo American were impacted. The company operates five coal mines in Queensland’s Bowen Basin, which specialize in steelmaking coal. Last year, Anglo American divested a 33% stake in one of its Australian steelmaking coal mines for $1.1 billion to concentrate on its core copper assets. This announcement comes on the heels of a proposed merger with Canada’s Teck Resources Ltd (TECKb.TO), potentially marking the second-largest mining deal in history. The developments underscore the ongoing challenges faced by the coal industry amidst shifting market dynamics and regulatory pressures.
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Disney’s ABC yanks ‘Jimmy Kimmel Live’ off air after remarks about Kirk
In a dramatic turn of events, ABC announced the indefinite suspension of ‘Jimmy Kimmel Live’ following controversial remarks made by the host regarding the assassination of conservative activist Charlie Kirk. The decision came after Federal Communications Commission (FCC) Chair Brendan Carr urged broadcasters to cease airing the show, citing concerns over the content’s appropriateness. Carr hinted at potential investigations and penalties for broadcasters who continued to air the program. Nexstar Media Group, one of ABC’s major affiliates, swiftly complied, pulling the show from its 32 stations. Sinclair, the largest ABC affiliate group, also announced it would not air the show unless Kimmel issued an apology and took ‘appropriate steps.’ The move has sparked a heated debate over free speech, with Democrats condemning the suspension as censorship, while Republicans and conservative commentators praised the decision. President Donald Trump, who has long criticized media figures for their coverage of him, celebrated ABC’s action on social media, calling it a ‘courageous’ move. The controversy has reignited discussions about the role of media in political discourse and the boundaries of free expression in the United States.
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Toyota to recall over 591,000 US vehicles over instrument panel issue, NHTSA says
Toyota Motor Corp has announced a major recall of 591,377 vehicles in the United States following concerns raised by the National Highway Traffic Safety Administration (NHTSA). The recall, issued on September 18, 2024, addresses a critical software flaw in the instrument panel display that fails to show essential information such as vehicle speed, brake system status, and tire pressure warnings. This malfunction, which occurs during vehicle startup, significantly increases the risk of accidents or injuries. Affected models include the Venza, Highlander, Lexus, Tacoma, and GR Corolla. The NHTSA emphasized the urgency of the recall, urging owners to address the issue promptly. Toyota has yet to release specific details on the repair process but assured customers that solutions will be provided through authorized dealerships. This recall underscores the growing importance of software reliability in modern automotive systems and highlights the challenges automakers face in ensuring vehicle safety amidst increasing technological complexity.
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Beetle that threatens Australia’s grains industry found in imported nappies
Australia has raised alarms after discovering khapra beetle larvae in imported nappies sold nationwide, posing a significant risk to the country’s grain industry and agricultural exports. The larvae were detected in the brand Little One’s Ultra Dry Nappy Pants Walker Size 5, exclusively sold by Woolworths, Australia’s largest supermarket chain. The agriculture ministry has been working with the importer and retailer to trace and treat affected products since the discovery in New South Wales on September 7. Agriculture Minister Julie Collins emphasized the urgency of containing the pest, stating that around 1,500 of the 2,000 cartons have been tracked down, but some remain in circulation. Khapra beetles, native to India, are classified as the most significant pest threat to Australia’s A$18 billion grains industry. Their establishment could lead to trading partners rejecting Australian goods, causing substantial economic losses. Woolworths has removed unsold nappies from shelves and quarantined them, while the manufacturer, Belgian company Ontex, has suspended operations at its Sydney facility pending comprehensive checks. The ministry has urged consumers who purchased similar nappies to seal them in a bag and contact authorities. The incident underscores the critical need for stringent biosecurity measures to protect Australia’s agricultural sector.
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Chipmaker Nvidia to invest $5bn in rival Intel
In a landmark move, Nvidia, the global leader in artificial intelligence (AI) chip manufacturing, has announced a $5 billion investment in Intel, its long-time rival. The deal, unveiled on Thursday, marks a significant lifeline for Intel, which has been grappling with declining market share and operational challenges. The partnership will focus on developing cutting-edge chips for personal computers and data centers, capitalizing on the surging demand for AI technologies. This strategic alliance will grant Nvidia a 4% stake in Intel, positioning it as one of the company’s largest shareholders. Following the announcement, Intel’s stock surged by over 25%, while Nvidia’s shares saw a modest 3% increase. Intel, once a dominant force in the semiconductor industry, has struggled to keep pace with Nvidia, whose market capitalization has soared past $4 trillion, dwarfing Intel’s $100 billion valuation. Nvidia CEO Jensen Huang described the collaboration as a ‘fusion of two world-class platforms,’ emphasizing its potential to drive innovation and shape the future of computing. The deal comes on the heels of a separate $10 billion investment in Intel by the U.S. government, aimed at bolstering domestic semiconductor production and maintaining America’s technological edge. Intel CEO Lip-Bu Tan welcomed Nvidia’s investment, expressing gratitude for the confidence placed in his company. The partnership also unfolds against a backdrop of geopolitical tensions, as Nvidia faces challenges in the Chinese market due to the U.S.-China trade war and China’s push for domestic chip production. Despite these hurdles, the collaboration between Nvidia and Intel signals a new chapter in the semiconductor industry, with both companies poised to leverage their strengths in the rapidly evolving AI landscape.
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Japan’s fiscal dove Takaichi joins race for leadership of ruling party
In a pivotal moment for Japan’s political landscape, veteran lawmaker Sanae Takaichi announced her candidacy for the ruling Liberal Democratic Party’s (LDP) leadership election on October 4, 2024. Takaichi, a fiscal conservative and vocal opponent of the Bank of Japan’s (BOJ) interest rate hikes, aims to become Japan’s first female prime minister. She is set to outline her policies in a press conference on Friday, emphasizing increased government spending to revitalize the nation’s fragile economy.
Takaichi’s announcement comes as outgoing Prime Minister Shigeru Ishiba steps down following a series of electoral defeats during his brief tenure. The leadership race has drawn a diverse field of candidates, including Agriculture, Forestry, and Fisheries Minister Shinjiro Koizumi, who leads recent polls with 23.8% support. Takaichi follows closely at 21.0%, while Chief Cabinet Secretary Yoshimasa Hayashi and former foreign minister Toshimitsu Motegi trail at 5.9% each.
Hayashi, in his policy announcement, pledged to continue Ishiba’s initiatives, particularly efforts to boost wages in smaller companies to alleviate the burden of rising living costs. However, he distanced himself from the ‘Abenomics’ policies of the late Shinzo Abe, arguing that the economy has moved beyond the need for such aggressive stimulus measures. Meanwhile, Motegi expressed his intention to negotiate further tariff reductions with the United States, contingent on favorable circumstances.
The election outcome will shape Japan’s economic and fiscal policies at a critical juncture, as the nation grapples with an aging population, inflationary pressures, and global economic uncertainties. With Takaichi and Koizumi emerging as frontrunners, the race underscores a potential shift in Japan’s political and economic direction.
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Thai police fire tear gas at Cambodian protesters at a disputed border village
A recent confrontation between Thai riot police and Cambodian civilians in a disputed border region has resulted in significant injuries and heightened tensions. On Wednesday, Thai authorities deployed tear gas and rubber bullets against Cambodian protesters, leaving at least 23 Cambodians injured, according to Cambodian officials. Thailand defended its actions, stating that the use of force was necessary to prevent disorder after Cambodian protesters allegedly dismantled Thai defensive barriers and attacked officials with sticks, stones, and slingshots. The clash occurred in an area claimed by both countries—Thailand identifies it as part of Ban Nong Ya Kaew village in Sa Kaeo province, while Cambodia asserts it belongs to Prey Chan village in Bantheay Meanchey province. This incident marks the most significant escalation since a ceasefire agreement in July ended a five-day border conflict that claimed 48 lives and displaced thousands. Cambodian Prime Minister Hun Manet has called for international support, urging ASEAN and global leaders to intervene and prevent further unilateral actions by Thailand. The U.S. government has also weighed in, urging both nations to de-escalate tensions and finalize terms for a long-term observer mission along the border. The dispute stems from a century-long disagreement over undemarcated points along the 817 km border, originally mapped by France in 1907. Both countries have erected barbed wire fences in the area, sparking weeks of protests from civilians on both sides.
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Egypt says 3,000-year-old bracelet was stolen and melted down
A priceless 3,000-year-old gold bracelet, dating back to the reign of Pharaoh King Amenemope, has been stolen and melted down in a shocking theft from the Egyptian Museum in Cairo. The Egyptian interior ministry revealed that the artifact was taken from a museum safe nine days ago by a restoration specialist. The specialist allegedly collaborated with a silver jeweler, who sold the bracelet to a gold jeweler for $3,735. The gold jeweler then sold it to a foundry worker for $4,025, who melted it down along with other jewelry. All four individuals involved have been arrested, confessed to their crimes, and had the proceeds seized. Legal action is now being pursued against them. The theft was discovered as museum staff prepared to ship artifacts to Rome for an exhibition. The tourism and antiquities ministry announced immediate measures, including circulating images of the bracelet to airports, seaports, and border crossings to prevent smuggling. The bracelet, adorned with lapis lazuli beads, was part of the museum’s vast collection of over 170,000 artifacts, including Amenemope’s gilded funerary mask. This incident occurred just weeks before the opening of the Grand Egyptian Museum in Giza, which will house King Tutankhamun’s treasures.
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Malawi’s parties warned not to prematurely declare election victory
The Malawi Electoral Commission (MEC) has issued a stern warning to political parties against prematurely declaring victory in the recent presidential election. Chairperson Annabel Mtalimanja emphasized that only the commission is authorized to release official results. This caution follows claims from the camps of incumbent President Lazarus Chakwera and former President Peter Mutharika, both of whom asserted they had won Tuesday’s poll. Speaking at a press conference on Thursday, Mtalimanja stressed the importance of patience as the commission finalizes the tallying and verification process to ensure the integrity of the results. The 2019 election, which was nullified by the Supreme Court due to irregularities, serves as a stark reminder of the need for transparency. Chakwera, who won the subsequent re-run, now faces Mutharika, who seeks a dramatic political comeback. The election, held against the backdrop of a severe economic crisis marked by inflation nearing 30% and chronic fuel shortages, also included parliamentary and local government polls. Malawians, who earn an average of $2 a day, are grappling with soaring living costs, with basic commodities like frozen chicken priced at $20 in the capital, Lilongwe. The MEC’s cautious approach aims to prevent disputes and ensure a credible outcome.
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Remains found in search for missing boy to be removed
In a deeply unsettling development, human skeletal remains believed to be those of Daniel Aruebose, a seven-year-old boy missing for several years, were discovered on a site in Donabate, County Dublin. The remains, found on Portrane Road, are set to undergo a paediatric post-mortem examination later this week, as reported by Irish broadcaster RTÉ. The discovery has prompted urgent calls for an independent statutory review into the case, which was raised in the Dáil, Ireland’s lower house of parliament, on Thursday. Concerns about Daniel’s whereabouts were initially flagged last month by Tusla, the state agency responsible for child welfare and protection. The area where the remains were found had been under investigation for weeks, following an initial examination at The Gallery Apartments in Donabate, where Daniel lived. Gardaí have announced a “careful and sensitive exhumation” will be conducted, with DNA analysis to confirm the identity of the remains. Tánaiste Simon Harris described the situation as “horrific and tragic,” emphasizing the need to establish facts before drawing conclusions. Taoiseach Micheál Martin echoed these sentiments, calling the discovery “deeply shocking and sad,” while cautioning against a “rush to judgement.” Ireland’s Minister for Children, Norma Foley, confirmed that a rapid review by Tusla and the National Review Panel will examine the circumstances surrounding Daniel’s disappearance. Tusla revealed it last had contact with Daniel’s family five years ago, raising questions about the agency’s follow-up procedures. The case has also prompted Tusla to initiate wellbeing checks on cases closed during the Covid-19 pandemic.