Human Times

European Edition

12th December 2025

THE HOT STORY

Thyssenkrupp pauses steel production at two sites

Thyssenkrupp, Europe's largest steelmaker, will pause production at its Gelsenkirchen site in western Germany and Isbergues in northern France for two weeks due to increased competition from low-priced Asian imports. The company said the French site will operate at half-capacity for four months starting January. The decision comes as the European Union considers tightening steel tariffs to protect local industries. The measures were in response "to a massive increase in low-priced imports, particularly from Asia," Thyssenkrupp Steel Europe said. "These developments have led to a dramatic change in order volumes and thus to a significant underutilisation of capacity at European production facilities."

France 24

REMUNERATION

JPMorgan to award $1,000 to eligible staff earning under $80,000

JPMorgan Chase will offer a special award of up to $1,000 to employees globally who earn less than $80,000 annually, according to an internal memo. Eligible staff must have completed at least one year of service by December 31, 2025. The payments are scheduled for early 2026. US employees will receive the amount as a 401(k) contribution, while those outside the US will receive cash. The New York-headquartered bank has some 318,000 employees globally.

Barron's

Reuters

LEGAL

UK government suffers setback to workers’ rights legislation

The UK government's Employment Rights Bill faces significant delays as the House of Lords blocked key reforms aimed at improving workers' rights. The government suffered a setback when peers voted 244 to 220 to review the compensation limit for unfair dismissal, undermining Labour's proposal to remove the cap. The Bill will return to the Commons on Monday, with unions urging swift action to secure workers' protections. The Trades Union Congress said: "The rights of millions of workers hang in the balance if this bill does not pass by Christmas."

Financial Times

The Times

Erdoğan urges employers to compromise

President Recep Tayyip Erdoğan has called on the Turkish Confederation of Employer Associations (TISK), Türkiye’s leading employers’ union, to compromise in upcoming minimum wage talks. Labour rights and the minimum wage dominated Erdoğan’s speech to the general assembly of the TISK on Thursday. A committee set up to determine the new minimum wage will hold its first meeting today, with the participation of labour unions, government officials and the employers' union. “I expect the TISK delegation there to shoulder responsibility. Every step you will take in favour of my worker friends will return to you as prosperity,” Erdoğan said.

Daily Sabah

HIRING

UK employers less likely to disclose salary amid softer hiring market

UK employers have become less likely to advertise salaries or offer non-pay benefits as a slump in hiring persists, according to data published by the jobs site Indeed. The share of postings mentioning at least one benefit dropped 2.1 percentage points to 64.6%, while salary transparency had fallen to its lowest levels since 2021. Jack Kennedy, senior economist at Indeed, said employers had adapted to the subdued hiring market “by trimming benefits and becoming more selective about when and how they advertised pay.”

Financial Times

People Management

ECONOMY

Lagarde says ECB is likely to raise growth forecasts

European Central Bank president Christine Lagarde has said that rate-setters will probably lift their growth forecasts for the euro zone when they meet next week, in a sign that the region's economy is proving resilient to trade tensions. "In the last projection exercises, we have upgraded our projections," Lagarde told a Financial Times event. "My suspicion is that we might do that again in December." Lagarde identified sentiment indicators, including manufacturing and employment data, as signs of resilience.

Financial Times

Reuters

Wall Street Journal

Dutch economy set for modest growth

The Dutch economy is projected to grow by 1.3% in 2026, driven by spending from workers and pensioners, according to ING Research. Marieke Blom, ING's chief economist, said: “2025 is the year of the windfall. US import tariffs have limited impact on the Netherlands, and energy prices are slightly lower than expected. This helped the economy grow a bit this year.” She nevertheless warned that global tensions and underlying economic erosion may dampen growth next year.

NL Times

SUSTAINABILITY

Arcelormittal defends climate strategy amid criticism

ArcelorMittal has responded to environmental NGO Opportunity Green's complaint regarding its climate strategy. The NGO claims the company still relies heavily on traditional blast furnaces, producing 75% of its steel this way. ArcelorMittal said: "Our absolute emissions were reduced by almost 50% between 2018 and 2024," as the company highlighted its investments in decarbonisation. However, the company admitted that progress has been slower than expected due to various challenges. Despite this, ArcelorMittal said it remains committed to reducing emissions and investing in renewable energy and low-carbon solutions.

Luxembourg Times

INTERNATIONAL

Trump launches $1m 'gold card' immigration visas

President Donald Trump's administration has launched the "Trump Gold Card" visa program offering fast-tracked US visas to wealthy foreigners. The card will give buyers a "direct path to Citizenship for all qualified and vetted people . . . Our Great American Companies can finally keep their invaluable Talent," Trump wrote on social media on Wednesday. The gold card program, which was first announced earlier this year, promises US residency in "record time" and will require a $1m fee which is "evidence that the individual will substantially benefit the United States", the program's website said.

Reuters

BBC News

Petrobras workers to strike over labour disputes

Workers at Brazil's state-owned oil company, Petrobras, have announced a strike set to begin on Monday, following what they called an "insufficient" second counteroffer for a new labour agreement. The strike arises amidst ongoing negotiations concerning a retirement fund deficit and changes to employee compensation. Petrobras plans to implement contingency measures to maintain operations during the strike, emphasising that discussions are still ongoing.

Reuters

Korean AI talent is being driven overseas

Korea faces a talent drain in artificial intelligence skills due to lower wages compared to the United States. A report from the Bank of Korea (BOK) reveals that AI specialists in Korea earned 6% more than their non-AI counterparts last year, but this AI wage premium is far behind the 25% figure in the US. “Korean AI talent working overseas accounted for about 16 percent in 2024, six percentage points higher than other workers,” said Oh Sam-il, an economist at the BOK. “The number of Koreans with AI skills working in the United States rose to 6,300 last year as a large number of jobs and strong treatment in the US AI industry pulled domestic talent overseas,” he added.

Korea Joongang Daily

OTHER

French far right proposes to reopen brothels

Marine Le Pen's National Rally party is proposing a bill to reopen brothels in France. Brothels were banned in 1946. Jean-Philippe Tanguy, a party member, argues that the 2016 law criminalising clients has worsened conditions for sex workers. He advocates for cooperatives run by sex workers to ensure their safety and rights. While some support the idea, others, including sex workers and advocacy groups, criticised the proposal as a publicity stunt. Equality Minister Aurore Berge said that France has no plans to change its current stance on prostitution.

France 24

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