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European Edition
20th December 2024
 
THE HOT STORY
UK plans to cut immigration not guaranteed to work, advisers warn
The Migration Advisory Committee (MAC) has said Labour’s plans to boost the skills of British workers “were not guaranteed” to deliver “large falls” in net migration because UK skills shortages were often not a reason for employers recruiting abroad. The MAC's report said that employers would still hire from overseas even when there were enough skilled domestic workers because they “seek the best possible match for their vacancy, which could include international recruits.” The government advisers said it was frequently poor pay and conditions which deterred UK workers from applying for jobs that were filled by skilled foreign staff, and urged Sir Keir Starmer to consider introducing specific measures if he wanted “large falls” in immigration.
CORPORATE
Spanish firm rescues Harland & Wolff
Spanish shipbuilding firm Navantia has acquired Harland & Wolff, securing the future of the historic Belfast shipyard and protecting 1,000 jobs. The UK government confirmed the purchase of all four Harland & Wolff shipyards, including the Belfast facility, following the company's previous financial struggles. The deal, reportedly around £70m, is seen as a significant boost for the Northern Ireland economy. Northern Secretary Hilary Benn remarked that Navantia's investment is “great news” for Belfast and its skilled workforce. Navantia aims to enhance UK shipbuilding and defence capabilities, with Business and Trade Secretary Jonathan Reynolds calling it a “major vote of confidence in the UK.”
EY wins first new Dax audit client since Wirecard case
EY will be biotech group Qiagen's new auditor from January, despite a ban on the firm winning audit mandates from listed German companies in the wake of the Wirecard scandal. 
WORKPLACE
Global study ranks Copenhagen best city for workers
Copenhagen has been recognised as the best city for workers globally, according to a study by Office Freedom. The Danish capital achieved a score of 85.4 out of 100, reflecting its excellent work-life balance, high job satisfaction, and favourable conditions for employees. The study evaluated cities worldwide based on various criteria, including average net salary and hours worked. The report observed: "Copenhagen's strong worker-friendly environment sets it apart from other cities." 
HIRING
UK employers eye ‘competitive advantage’ in hiring neurodivergent workers
UK employers are realising the “competitive advantage” of hiring people with conditions such as ADHD. Data shows a six-fold increase in job adverts mentioning terms related to neurodiversity since 2019.
LEGAL
Former ING boss will not be prosecuted for money laundering scandal
The Netherlands' Public Prosecution Service (OM) has opted not to prosecute former ING CEO Ralph Hamers over his involvement in a money laundering scandal, citing “insufficient legally convincing evidence.” Despite a lengthy investigation, which included testimonies from numerous witnesses, the OM concluded that there was not enough evidence to establish Hamers' personal criminal liability. The OM said: "Although it must be concluded in retrospect that the measures taken internally by ING at the time were insufficient, the investigation has not yielded sufficient evidence." Hamers said that the OM's decision is “logical and correct,” although financial activist Pieter Lakeman continues to advocate for accountability, arguing that bank directors should not evade responsibility for prohibited practices. The OM also decided against prosecuting four former ABN Amro board members for similar issues.
TECHNOLOGY
Amazon says its warehouse bots are creating jobs
Employees at Amazon's warehouses have raised concerns about unsafe working conditions and job security amid increasing automation, but Tye Brady, Amazon's chief technologist, argues that the company's investment in robotics is enhancing worker safety and efficiency. "We put people at the centre of our robotics universe", he said, highlighting the collaboration between humans and machines. The new systems, such as the Sequoia storage cell and Proteus robots, aim to reduce repetitive strain injuries and improve order fulfilment speed. Despite criticisms, Brady insists that automation is not about eliminating jobs but transforming them, with Amazon committing over $1.2bn to upskill its workforce. The company has created hundreds of thousands of new roles, demonstrating that "more robots, more jobs" is a viable approach, Brady maintains.
SUSTAINABILITY
EU delays landmark deforestation law
The European Union is to delay its world-first anti-deforestation law, which will now enter into effect on 30 December 2025 – a year later than originally planned. The law will ban the import of soy, beef, coffee, palm oil and other products linked to the destruction of forests, but Reuters observes that the delay to the landmark policy to address deforestation is a blow to the EU's green agenda, which faces pushback from sectors including automakers and airlines, who say the measures to fight climate change are too onerous. 
INTERNATIONAL
Japan brokerages boost pay and perks for retirement-age staff
Japan's leading securities firms are increasing salaries and benefits for workers aged 60 and above, reflecting the urgent need to retain talent in a rapidly ageing society. At Daiwa Securities Group, senior employees in this age bracket have seen an average pay rise of 15% over the past two years. Nomura Holdings has also enhanced benefits, including paid sick leave, to match what younger employees get. “The diverse experience and skill sets of employees at 60 or over are important for our business,” Nomura said. As an example, Japan's biggest brokerage observed that “employees with experience in the world where interest rates are above zero can provide information that is difficult for younger generations to imagine.” As Japan faces a declining fertility rate, employers are being advised to do more to motivate older employees, including setting remuneration in line with performance and job responsibilities, according to a report by business lobby Keidanren. “Redeploying senior people as a workforce will be essential if companies want to stay in business or achieve growth,” said Nobuhiro Maeda, a senior analyst from NLI Research Institute's gerontology promotion office. “Labour shortage problems are expected to become even more dire from now.”
Employee stabs company president during morning staff meeting
An employee at a Michigan-based manufacturing company has been charged with stabbing the company president in an assault during a morning staff meeting. Police are still investigating the motive behind the attack. According to US media reports, Nathan Mahoney allegedly entered a conference room at Anderson Express on Tuesday and stabbed company president Erik Denslow. Following the assault, Mahoney fled the scene in a vehicle but was apprehended less than an hour later. Authorities are exploring whether the stabbing was inspired by the recent murder of UnitedHealthcare CEO Brian Thompson in New York City. “We haven't ruled out a copycat motive,” Deputy Police Chief Greg Poulson said, adding that police are reviewing Mahoney's social media and electronic records for potential leads.
China’s food delivery platforms begin to enforce rider breaks
Meituan and Ele.me, China's two major on-demand delivery service providers, have introduced new features that alert or forcibly log out couriers who work excessively long hours, in a bid to prevent rider fatigue. Meituan's system detects prolonged working hours through the courier app, prompting riders to take a break after a certain amount of time, typically longer than 12 hours. If the suggestion is ignored, the app will eventually require the rider to go offline. The platforms are introducing the alert system as food delivery crew, along with Uber-style taxi drivers, bear the brunt of China’s economic slowdown and weakened consumer spending, forcing them to work extremely long hours to make ends meet.
Facebook moderators in Kenya take legal action
Former moderators at Samasource, an outsourcing company for Facebook, have come forward with harrowing accounts of their experiences vetting graphic content. Many, including a young mother, have been diagnosed with severe post-traumatic stress disorder (PTSD) after enduring extreme material such as child abuse and murder. Despite claims of support from Meta, the parent company of Facebook, many moderators reported inadequate mental health care. The ongoing legal action by 185 workers alleges violations of Kenyan laws against forced labour and human trafficking, as well as intentional infliction of mental health harm.
 


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