Human Times

APAC Edition

24th November 2025

THE HOT STORY

TD Bank sued by Chinese and Chinese-American employees

A group of Chinese and Chinese-American employees who previously worked in TD Bank's New York branches say their roles were terminated as the lender sought to address its money-laundering breaches after pleading guilty to conspiracy to commit money laundering involving criminal organisations. “TD Bank has aggressively and disparately enforced AML policies against its Chinese and Chinese-American employees and at its NYC Chinatown Branches because they are Chinese and unjustly and insincerely linked to the Chinese money brokers that used TD Bank, N.A. to launder millions of dollars gained from criminal activity,” according to the complaint.

The Globe and Mail

REGULATION

Australia's internet regulator called on to testify in US

The US House Judiciary Committee has called on Australian eSafety Commissioner Julie Inman Grant to testify regarding her role in enforcing internet laws that it said may infringe on free speech. In a letter dated November 18, House Judiciary Chair Jim Jordan, a Republican, described Grant as a "noted zealot for global takedowns" and accused her of collaborating with pro-censorship groups. He expressed concern over what he said was her "expansive interpretation" of Australia's Online Safety Act (OSA), which he claimed threatens American speech.

U.S. News

WORKFORCE

Korea is faces worsening youth employment crisis

Korea is experiencing a significant youth employment crisis. As of last month, 35,000 individuals aged 20 to 30 had been unemployed for over six months, an increase of 7,000 from the previous year. The overall long-term unemployed population reached 119,000, the highest since October 2021. Analysts attribute the trend to a mismatch between job seekers' expectations and available positions. Seok Byoung-hoon, an economics professor, observed: "We need to focus on improving labour market flexibility and the quality of university education."

Korea Joongang Daily

STRATEGY

Google opens major AI hub in Taiwan

Google has launched its largest AI infrastructure hardware engineering centre outside the U.S. in Taiwan, signalling strong confidence in the island's tech sector. At the opening, Taiwan President Lai Ching-te emphasised the nation's role as a “key hub for building secure and trustworthy AI.” The move highlights deepening tech ties between the US and Taiwan amid rising tensions with China.

Reuters

Korean manufacturers announce $310bn domestic investment plans

South Korean manufacturers, including Samsung Electronics and Hyundai Motor, have announced significant domestic investment plans amid concerns over a US trade deal that may weaken local manufacturing. Samsung will enhance its chip production in Pyeongtaek as part of a 450tn won ($310.79bn) investment strategy over the next five years. President Lee Jae Myung expressed worries about potential declines in domestic investment due to increased US-bound investments, and urged companies to prioritise local initiatives.

South China Morning Post

LEGAL

Shandong court sentences former insurance chief for bribery

Li Quan, the former Party chief and chairman of New China Life Insurance Company, has been sentenced to death with a two-year reprieve for embezzlement and bribery exceeding 213m yuan ($30m). The Jinan Intermediate People's Court in Shandong province found Li guilty of embezzling over 108m yuan and accepting over 105m yuan in bribes from 2010 to 2023. The court imposed a combined punishment, including life imprisonment for embezzlement and a death sentence for bribery, both with deprivation of political rights for life and confiscation of assets. The court noted that Li's actions caused "significant harm to national and public interests," and as such warranted severe punishment. However, his confession and restitution efforts led to the reprieve. Li resigned in August 2023 and was investigated for serious violations of Party discipline before his trial in May 2024.

Chinadaily US Edition

ECONOMY

China ups ante in trade feud with Japan

China has escalated its dispute with Japan by suspending seafood imports and halting approvals of new Japanese films, in response to Prime Minister Sanae Takaichi’s remarks linking Japan’s military to a potential Taiwan conflict. China also paused talks on resuming Japanese beef imports and warned of “serious countermeasures” unless Tokyo retracts the comments. Japanese seafood exporters and tourism-related stocks fell, while Chinese seafood firms rallied. The standoff has raised fears of renewed trade weaponisation, particularly around rare earth supplies. Beijing is also discouraging travel to Japan and criticising what it calls Japan’s interference in internal affairs.

Bloomberg

TRAINING & DEVELOPMENT

Africa-Asia (A-A) Platform aims to boost youth entrepreneurship and innovation

The African Development Bank has announced the roll-out of a new initiative, the Africa-Asia (A-A) Platform, dedicated to the promotion of knowledge transfer between Africa and Asia. Thr platform will ensure a reciprocal exchange of technology and innovation between the two continents. Prof. Francis Petersen, Vice-Chancellor and Principal of the University of Pretoria, said: "Partnerships between Asian and African countries present an ideal model in which public and private actors on both continents collaborate, co-create and drive innovation."

Zawya EN

TAX

Billionaire Thaksin Shinawatra ordered to pay $542m tax bill

Thailand's Supreme Court has ordered billionaire Thaksin Shinawatra to pay 17.6bn baht ($542m) in taxes and fines related to the 2006 sale of his company, Shin Corp, to Temasek. The ruling overturns previous decisions by the Central Tax Court and the Special Appeals Court. Thaksin, a former Prime Minister, is currently in jail for corruption and abuse of power. Thaksin's net worth is estimated at $2.1bn.

Forbes

INTERNATIONAL

Verizon to shed more than 13,000 jobs as it restructures

Verizon will lay off over 13,000 employees, its largest single workforce reduction, as the US wireless carrier aims to lower costs and streamline operations. The cuts, mostly in the US, will be accompanied by converting 179 stores into franchises. Chief executive Dan Schulman said the company's cost structure “limits our ability to invest significantly in our customer value proposition.” Verizon expects to record up to $1.8bn in severance charges, with most employees departing by next month. Despite market pressures and competition, the company stressed the cuts are not due to AI. Schulman announced a $20m fund to support workers’ transitions.

Business Times SG

Reuters

Tod's executives face labour exploitation probe

Italian prosecutors are investigating Tod's and three of its executives for alleged labour exploitation involving Chinese subcontractors. The Milan Prosecutor's Office claims Tod's knowingly violated labour laws regarding working hours, wages, and safety. A court document revealed that 53 workers were exploited, with one worker alleging physical abuse over unpaid wages. Prosecutors described the company's lack of oversight as "malicious." Tod's founder Diego Della Valle defended the luxury fashion label's reputation, warning that such investigations could harm "Made in Italy" brands. A hearing is set for December 3 regarding a proposed advertising ban.

France 24

OTHER

Hong Kong's Tsim Sha Tsui is world's fourth priciest shopping district

According to Cushman & Wakefield's “Main Streets Across the World” report, Hong Kong's Tsim Sha Tsui ranks as the world's fourth most expensive retail location, with rents at US$1,515 per sq ft per year. London's New Bond Street tops the list, with rents of US$2,231 per sq ft, a 22% increase from last year. Via Montenapoleone in Milan and Upper Fifth Avenue in New York follow in second and third place, respectively. The report analysed headline rents in 141 prime urban locations, often linked to the luxury sector.

South China Morning Post

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