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APAC Edition
29th August 2025
 
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THE HOT STORY

Hackers used AI to 'to commit large-scale theft'

Anthropic, the AI company behind the Claude chatbot, says the technology has been "weaponised" by hackers to carry out sophisticated cyber attacks. The company says its tools were used by hackers "to commit large-scale theft and extortion of personal data." In another case, North Korean scammers used Claude to fraudulently get remote jobs at top US companies. Anthropic says it was able to disrupt the threat actors and has reported the cases to the authorities along with improving its detection tools. Using AI to help write code has increased in popularity as the tech becomes more capable and accessible.
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LEGAL

Ex-TSMC staff indicted in theft case

Taiwan prosecutors indicted three individuals, including a former TSMC employee surnamed Chen, for stealing trade secrets related to TSMC’s advanced 2-nanometer chip technology. Authorities allege Chen, after joining Tokyo Electron, sought information from ex-colleagues to aid his new employer in securing supplier contracts. Prosecutors are recommending a 14-year sentence for Chen under trade secrets and national security laws. TSMC reaffirmed its “zero-tolerance policy” on breaches, pledging to strengthen internal controls and cooperate with regulators to protect its competitiveness.
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WORKFORCE

Unions threaten BHP with supply disruption

Unions have gained support from BHP's fly-in, fly-out maintenance workers at the Yandi iron ore mine, threatening supply disruptions if bargaining delays occur. The Fair Work Commission recognised the Australian Manufacturing Workers Union's 72% backing among 180 workers. AMWU Western Australia secretary Steve McCartney said: "A clear majority of maintenance workers . . . have voted yes to start bargaining." Workers seek pay rises and address concerns over policy changes and bonuses. BHP has challenged the legitimacy of the petitions, citing previous union claims that lacked majority support.
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REGULATION

Deloitte faces penalties for audit failures

Deloitte Touche Tohmatsu and two partners have been sanctioned by Hong Kong's Accounting and Financial Reporting Council (AFRC) for significant audit deficiencies. The AFRC issued a public reprimand and imposed penalties totalling HK$1.91m, including HK$1.16m for Deloitte. This action marks the first completed disciplinary cases involving audit working papers obtained through cross-boundary regulatory collaboration. The AFRC stated that the breaches were related to revenue recognition and other issues concerning two companies previously listed in Hong Kong.
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ECONOMY

China's factory output likely shrinks

China's factory activity is expected to contract for a fifth consecutive month in August, with the official PMI forecast at 49.5, still below the growth threshold of 50. Economists cite weak exports, a deepening property crisis, and job insecurity as major factors. Xu Tianchen of the Economist Intelligence Unit noted: “The summer months tend to be the low point . . . there's additional pressure from extreme weather and production limitation.” Despite some export gains, profit declines and weak domestic lending highlight continued economic strain, increasing pressure on Beijing to boost stimulus.
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CORPORATE

Rio Tinto shakes up leadership team

British-Australian multinational mining giant Rio Tinto has announced a significant restructuring of its operations and leadership team under new chief executive Simon Trott. The company will review its smaller divisions, including borates and iron and titanium, and reorganise into three core units: iron ore, aluminium and lithium, and copper. Trott said the change aims to enhance accountability and focus, observing: "A simplified business structure . . . will enable us to deliver new standards of operational excellence and value creation." The overhaul will also consolidate iron ore operations and adjust leadership roles.
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TRAINING & DEVELOPMENT

Third of school students in India also take private lessons

Nearly one in three school students in India now takes private lessons, according to the government's latest Comprehensive Modular Survey, with the practice far more common in urban areas. The survey, which covered over 52,000 households and nearly 58,000 students, found that government schools dominate nationally, accounting for 55.9% of enrollments; however, in cities, that figure shrinks to 30.1%, with parents showing a preference for private unaided institutions. Twenty-seven percent of students took private coaching this year, rising to 30.7% in urban areas. Coaching costs vary from ₹525 ($5.98) at pre-primary level to ₹6,384 ($72.67) at higher secondary.
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INTERNATIONAL

UK adults are concerned about the impact of AI on their job

Half (51%) of adults in the UK worry that artificial intelligence will take or alter their job, according to a poll of 2,600 respondents for the Trades Union Congress (TUC). Workers aged between 25 and 34 are particularly concerned about the technology, with nearly two-thirds (62%) of this demographic reporting such worries. The TUC wants the government to involve workers and trade unions as the technology is rolled out across workplaces to protect jobs, and provide training to those whose roles are replaced. TUC assistant general secretary Kate Bell said: “AI could have transformative potential, and if developed properly, workers can benefit from the productivity gains this technology may bring . . . The alternative is bleak. Left unmanaged and in the wrong hands, the AI revolution could entrench rampant inequality as jobs are degraded or displaced, and shareholders get richer.”

Greece's public sector strikes against new law

Greece's public sector went on strike on Thursday against a proposed disciplinary law. The General Confederation of Greek Workers (ADEDY) led the protests, calling the bill “anti-worker.” The bill aims to criminalise trade union activities and remove worker representatives from disciplinary boards. ADEDY is demanding the bill's withdrawal. The Federation of Hospital Doctors' Unions of Greece (OENGE) and other unions have condemned the legislation, labelling it an “abomination.” They argue it suppresses union activities and threatens workers' rights. “The class struggle will not be stopped by laws or decrees,” said the Piraeus Teachers' Union (ELME).

BHP union flags autonomous truck risks

Chile’s Escondida mine workers’ union has raised alarms after two autonomous truck accidents - one involving a collision with shovel machinery and another overturning. No injuries were reported, but union leader Patricio Tapia emphasized nearby workers still face risks. BHP, which recently completed a five-year automation rollout involving 33 trucks and eight drills, said one incident occurred in March and confirmed no personnel were exposed. The union criticised BHP's safety claims, warning that "the reality is revealing a huge risk." Escondida is the world’s largest copper mine, producing 1.28m tonnes in 2024.

German labour costs higher than in other industrialised countries

Unit labour costs in German industry were 22% higher last year than the average of 27 industrialised countries examined by the Germany Economic Institute IW in a report seen by Reuters. "The shortage of skilled workers is pushing wages further up," observed Christoph Schroeder, the study's author. "Costs at the German location are likely to continue rising in the coming years."
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OTHER

Singapore's Gen Z is optimistic but unprepared for retirement

Gen Zs in Singapore are optimistic about their financial future, with 51% confident they can retire well. However, 72% lack a retirement plan, focusing instead on increasing their income. The SG60 Financial Future Poll by Prudential Singapore surveyed 1,000 residents and revealed that Baby Boomers regret not starting financial planning earlier. Mr Jeff Ang, CEO of Prudential Financial Advisers Singapore, emphasised the importance of early financial advice, saying: "Optimism and hustle are great, and when paired with financial planning, they will set you up for long-term success." Many Baby Boomers say they wish they had begun planning 12 years earlier.
 
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