THE HOT STORY

Global unemployment rate holds steady

The global unemployment rate is projected to remain at 4.9% until 2027, according to the International Labour Organization (ILO). Despite this apparent stability, ILO officials warned of a significant shortage of decent jobs, with 186m people currently unemployed. Caroline Fredrickson, head of the ILO's research department, noted: "Global labour markets look stable, but that stability is quite fragile." The report also highlighted that nearly 300m workers live in extreme poverty, earning less than $3 a day, and 2.1bn are in informal jobs with limited protections.

Daily Sabah

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LEGAL

Toy factory faces exploitation claims

China Labor Watch (CLW) has reported worker exploitation at Shunjia Toys, a firm in the supply chain that creates the popular Labubu figures. The investigation shows that 16- and 17-year-olds were employed without necessary protections, and workers signed blank contracts. CLW's report said underage workers "generally did not understand the nature of the contracts they signed." Workers also faced unrealistic production targets, often exceeding legal overtime limits. Parent company Pop Mart said it takes worker welfare seriously and is investigating the claims.

The Guardian

Thailand cracks down on illegal workers

The Thai government has issued a warning regarding foreign nationals working without permits or exceeding their allowed duties. Such individuals risk fines and deportation. Employers who engage in illegal hiring face significant penalties per worker and stricter sanctions for repeat violations. The government said it aims to enhance cooperation among security agencies to enforce these regulations.

The Nation

HIRING

McKinsey challenges graduates to use AI chatbot in recruitment overhaul

McKinsey is piloting a shake-up in how it recruits its next generation, asking graduate candidates to use an AI assistant to complete tests designed to reflect consultants’ new ways of working. According to CaseBasix, a company that helps candidates apply for posts at leading strategic consulting companies, the firm is asking candidates in “select final rounds” to complete tests using McKinsey’s internal AI tool, Lilli. Mayank Gupta, chief executive of CaseBasix, said that other top consulting firms, including Boston Consulting Group and Bain, are also likely to adopt AI in their interview procedures.

Financial Times

The Guardian

TECHNOLOGY

Alibaba's enhanced Qwen chatbot app wins over consumers

Alibaba's Qwen app has been upgraded to function as a virtual "life assistant," enhancing user interaction with smart devices. The transformation allows users to perform tasks like ordering drinks and paying bills through voice commands, integrating with Alibaba's platforms such as Taobao and Alipay. Users have praised the app for simplifying operations, especially for those less adept at using multiple applications. Yang Tao, a user from Nanjing, noted: "I tried to order meals using Qwen and it went smoothly". The updated app was launched on Thursday.

South China Morning Post

ECONOMY

India’s electronics exports cross ₹4 lakh crore in 2025

India’s electronics exports surpassed ₹4 lakh crore in 2025, up from ₹3.3 lakh crore the previous year, creating jobs and boosting foreign exchange, IT Minister Ashwini Vaishnaw announced. Growth is expected to continue in 2026 with four semiconductor plants starting commercial operations. iPhone exports alone hit ₹2.03 lakh crore in 2025, nearly double the previous year, with mobile phones accounting for the majority of electronics output.

Economic Times

STRATEGY

Maruti Suzuki expands with new plant

Maruti Suzuki India has acquired approximately 7m square metres of land in Sanand, Gujarat, for a new production plant with an annual capacity of 1m vehicles. The acquisition cost INR 49.6bn, following an agreement with the Gujarat state government. The facility will be Maruti Suzuki's second in Gujarat, enhancing its existing operations. The company aims to support the growing Indian automobile market and boost vehicle exports, aligning with the government's Make in India initiative. Maruti Suzuki currently operates four plants in India, with total capacity increasing to 3.6m units annually.

Automotive World

INTERNATIONAL

EU prepares retaliation for Donald Trump’s Greenland threat

EU leaders are considering hitting the US with a €93bn ($107.7bn) package of tariffs in response to Donald Trump’s threats to Nato allies opposed to his campaign to take over Greenland. Another option that will be discussed at an emergency summit in Brussels on Thursday is the to-date never-used Anti-Coercion Instrument, which could limit access to public tenders, investments or banking activity or restrict trade in services, in which the US has a surplus with the bloc, including in digital services. "I'm convinced that [Europe] must not give in," observed Jérémie Gallon, a former French diplomat and current senior managing director at McLarty Associates, a Washington-based international strategic advisory firm. "Resisting a new attempt at humiliation and vassalisation is the only way Europe can finally assert itself as a geopolitical actor."

Financial Times

Politico

Reuters

Menopause symptoms have economic consequences.

In Germany, over 9m working women are of menopausal age, and face symptoms that can hinder their productivity. A survey by Andrea Rumler from the Berlin School of Economics and Law found that menopausal symptoms cost the German economy approximately €9.5bn annually, resulting in 40 million lost working days. Many women feel unable to discuss these issues at work, with over half saying menopause is a taboo topic. Companies are urged to provide support, such as flexible working hours and education on menopause, to retain skilled workers. Rumler said: "Many women in this phase of life are suffering at work."

Deutsche Welle (EN)

OTHER

Billionaires' wealth hits new peak, Oxfam says

Billionaire fortunes have grown at a rate three times faster than the previous five years since the election of Donald Trump in November 2024, according to Oxfam in a report timed for the opening of the World Economic ‌Forum in Davos. While US billionaires have seen the sharpest growth in their fortunes, billionaires in the rest of the world have also seen double digit increases. The number of billionaires has surpassed 3,000 for the first time, and the level of billionaire wealth is now higher than at any time in history. "The widening gap between the rich and the rest is at the same time ‍creating a political deficit that is highly dangerous and unsustainable," Oxfam's executive director Amitabh Behar said.

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