THE HOT STORY

Workplace stress linked to 900,000 deaths

Workplace stress is a significant global issue, causing nearly 900,000 deaths annually, according to a report by the United Nations' International Labour Organisation (ILO). The study, titled “The psychosocial working environment: Global developments and pathways for action,” highlights factors such as long hours, job insecurity, and bullying as key contributors to serious health problems. Manal Azzi, ILO team lead, stated: "Psychosocial risks are becoming one of the most significant challenges in the modern world of work." The ILO urges action to address these risks and improve workplace safety for better health and productivity.

ILO

Gulfnews.com

CYBERSECURITY

UK's top cybersecurity chief warns against AI threats

Richard Horne, chief executive of the UK's National Cyber Security Centre, has warned that Britain should prepare for an increase in cyberattacks linked to hostile states. Speaking at the government's annual CYBERUK conference in Glasgow, Horne noted that the agency manages about four significant cyber incidents weekly, with many serious threats originating from nation states such as China, Iran, and Russia. He said: "Were we to be in, or near, a conflict situation, the UK would likely face hacktivist attacks at scale." Horne meanwhile told Sky News that AI models such as Mythos are "warning shots" for the UK about the danger of powerful AI. He said he didn't consider AI a national security threat at present, as new models were "not finding new attacks, they're just exposing more security vulnerabilities."

Sky News

U.S. News

STRATEGY

Meta, Microsoft purge jobs amid AI build-up

Meta and Microsoft are preparing large staff reductions while increasing spending on artificial intelligence infrastructure and talent. Meta will cut 10% of its workforce, about 8,000 roles, as it targets efficiency alongside capital expenditure of up to $135bn. Janelle Gale, Meta’s chief people officer, said the move would help “offset the other investments we’re making.” Microsoft will offer voluntary redundancy to about 8,750 eligible US staff, while also changing employee stock reward rules.

Deutsche Welle (EN)

France 24

The Times

Nike cuts jobs amid slump

Nike will lay off about 1,400 employees, or just under 2% of its global workforce, as it tries to simplify operations during a prolonged sales downturn. Chief Operating Officer Venkatesh Alagirisamy said the cuts will focus on global operations, mainly technology, across North America, Asia and Europe. CEO Elliott Hill is pushing Nike back toward core sports and faster product launches, but sales remain weak, especially in China. Morningstar analyst David Swartz said: “Nike should be further along in its recovery by now.”

Reuters

REMOTE WORKING

John Lewis pushes staff back to office to boost performance

John Lewis has told head office staff to spend more time working in person as the UK retailer seeks to improve performance and keep pace with rivals moving away from remote working. Employees are expected to be "more in person than not" - either in the office or with suppliers and customers - to strengthen collaboration and outcomes. The shift comes as the retailer, which also owns Waitrose, tries to accelerate its turnaround after reporting a £21m loss last year. While maintaining a hybrid model, the company is exploring ways to expand office space to accommodate increased attendance.

The Sunday Telegraph

LEGAL

Lufthansa loses €6bn fight at EU court over Covid aid

The Court of Justice has upheld a lower tribunal's decision to annul the European Commission's approval of Germany's €6bn recapitalisation of Lufthansa during the Covid-19 pandemic. The ruling supports claims from Ryanair and Condor that the state aid distorted competition. Although Lufthansa has repaid its subsidies, the court's decision highlights the challenges regulators face in balancing support for struggling firms with fair competition. A Lufthansa spokesperson said: "We will engage constructively in the commission's ongoing process." The airline received a total of €9bn in state aid during the pandemic.

Luxembourg Times

CORPORATE

Nestlé faces sales slump amid challenges

Nestlé has reported a 5.7% decline in first-quarter sales, totalling 21.3 billion Swiss francs ($24.9bn), primarily due to the strong Swiss franc and a baby formula recall. Despite these challenges, organic sales rose by 3.5%, exceeding analyst expectations. Philipp Navratil, Nestlé's new CEO, said: "Our first-quarter performance demonstrates that our RIG-led growth strategy is delivering." The company also noted a 1.2% increase in real internal growth, surpassing forecasts. Analysts see early signs of volume growth, although concerns remain over the impact of global uncertainties on future performance.

France 24

INTERNATIONAL

Samsung workers protest over SK Hynix pay gap

An estimated 40,000 workers at Samsung Electronics' massive factory complex south of Seoul protested on Thursday over compensation levels. Workers are aggrieved by what they say is a massive gap in bonus pay with rival SK Hynix. "Many employees are leaving for SK Hynix . . . At the end of the day, more than 90% of employees work for pay, and the compensation gap has become so wide that it's driving these moves," said Song Yong-gi, who handles logistics tasks for an assembly line in Samsung's chip division. Reuters notes that SK Hynix beat Samsung in delivering high bandwidth memory for artificial intelligence chip units to Nvidia and other clients following the release of ChatGPT in late 2022.

Reuters

Top US law firm apologises for AI 'hallucinations' in court filing

Elite US law firm Sullivan & Cromwell has apologised to New York federal judge Martin Glenn for submitting a court filing with inaccurate citations and other errors generated by artificial intelligence. In a letter dated April 18, Andrew Dietderich, co-head of the firm's global restructuring group, said the filing contained multiple “hallucinations” made by AI software. Boies Schiller Flexner - which is also involved in the case - spotted the errors in the filing, Dietderich wrote in the letter to Glenn, chief judge of the U.S. ⁠Bankruptcy Court in Manhattan. "I apologise on behalf of our entire team. I also called Boies Schiller Flexner LLP . . . to thank them for bringing this matter to our attention and to apologise directly to them as well," Dietderich wrote.

Financial Times

Reuters

Japan to collect more from outbound travellers

Japan will increase its international departure tax from 1,000 yen to 3,000 yen per person starting July 1, 2026. The tax, often dubbed the "Sayonara Tax," applies to all departing travellers, including foreign tourists and Japanese nationals. Infants under two and eligible transit passengers are exempt. The revenue aims to enhance tourism infrastructure and visitor services.

The Nation

OTHER

Athens mayor warns of tourist overload

Haris Doukas, the mayor of Athens, has warned that the city is at risk of "over-saturation" due to the influx of 8m tourists and 700,000 residents. He believes uncontrolled tourist development threatens the authenticity of local neighbourhoods. Doukas said: "Athens cannot operate as if it were a giant hotel," as he advocated for restrictions on new tourist activities in the city's historic centre. He aims to halt short-term rentals and hotel construction to preserve the city’s character. Doukas has garnered support from the hoteliers' association for a cap on hotel development, echoing similar measures in Barcelona.

The Guardian

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