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APAC Edition
29th April 2024
 
THE HOT STORY
World leaders and experts gather for second AI safety summit
Last year, world leaders, corporate executives, and academic experts gathered at Britain's Bletchley Park for the world's first global AI Safety Summit. Now, the second AI Safety Summit, co-hosted by Britain and South Korea, will address the limitations and regulation of artificial intelligence. Martha Bennett, a senior analyst at Forrester, believes it will be difficult to move beyond the broad agreement reached at the first summit. The focus has shifted from existential risk to the resources needed for AI's development, such as data and electricity. Experts warn against relying solely on scientific breakthroughs and lucrative financing efforts for AI's future. Questions around copyright, data scarcity, and environmental impact are also expected to be discussed. However, some key attendees have declined invitations to the virtual event in Seoul. Despite the lower attendance, the summit aims to build on the momentum of Bletchley Park and make progress in AI safety and innovation.
MANAGEMENT
Hindustan Unilever names new HR head
BP Biddappa is to join the Hindustan Unilever Limited (HUL) management committee as executive director for human resources and chief people, transformation, and sustainability officer for South Asia. Anuradha Razdan, currently the executive director for HR at HUL and chief HR officer for South Asia, will take on a global role as the chief reward and organisation development officer for Unilever. These changes will be effective from June 1, 2024. "This change will further strengthen HUL's focus on human resources, organisation development, and sustainability," the company said.
Star Entertainment executive chair Foster steps down
Star Entertainment's Executive Chairman David Foster is stepping down, joining a wave of senior management departures at the Australian casino operator. The announcement comes as the company faces a second inquiry into its Sydney casino operations. Foster took on additional executive duties last month after the departure of the CEO and CFO. Anne Ward, an independent director, will take over as chair immediately. Star is still searching for a permanent CEO. The company's Sydney casino license was suspended in October 2022, prompting the regulatory investigation.
HEALTH & WELLBEING
Corporate high-fliers embrace 'anti-grindset' movement for better work-life balance
Writing for South China Morning Post, Neeta Lal says corporate high-fliers are embracing the "anti-grindset" movement in a bid to prioritise work-life balance. The movement opposes the "hustle culture" that promotes relentless work and performance. Its advocates say that constant work without rest and self-care leads to stress and negative health effects. A survey by Prudential suggests that over 70% of workers in the United States are considering prioritising their personal lives over their jobs. The "anti-grindset" movement encourages individuals to disengage from work and seek a healthier work environment. The movement aims to create a support system for individuals, especially "mompreneurs," to grow businesses and maintain a healthy work-life equilibrium.
World Day for Safety and Health at Work promotes occupational health
The international community observed World Day for Safety and Health at Work on Sunday to raise awareness of occupational health and safety issues. Work-related diseases and injuries caused 1.88 million deaths in 2016, with the South-East Asia Region facing a particularly high burden of work-related mortality. Climate change and mental health issues in the workplace were also highlighted as concerns. Salma Wazed, WHO Regional Director for South-East Asia, emphasized the need for partnerships and collaboration to ensure better occupational health and safety.
STRATEGY
Blackstone-owned Crown Resorts to cut 1,000 jobs amid economic challenges
Blackstone-owned Crown Resorts will cut up to 1,000 roles in Melbourne, Perth, and Sydney due to weak economic conditions and regulatory obligations. Crown Resorts CEO Ciaran Carruthers stated that reduced foreign tourism, a decline in local workers, and gaming restrictions in Sydney and Melbourne have contributed to the challenges faced by the company. Crown Resorts currently employs over 20,000 people in various roles. Last year, the company agreed to pay a A$450m fine for breaking anti-money laundering laws. Despite investigations and inquiries, Crown Resorts has retained its licenses to operate its flagship and Sydney casino. Carruthers emphasized the company's commitment to regulatory obligations and ongoing transformation.
LEGAL
Google fires more employees over Nimbus contract
Google has fired more activist employees following the termination of workers who occupied company offices to protest a contract with the Israeli government. The second round of terminations came after Google struggled to identify employees who concealed their identity. No Tech for Apartheid claimed that a total of 50 workers had been fired. Google confirmed that every terminated employee was involved in disruptive activity. No Tech for Apartheid said it will continue organising against the Nimbus contract. Google had previously stated that the protests were part of a campaign by organisations and people who largely don't work at Google.
ECONOMY
China passes tariff law to protect economy
China has passed a new tariff law that strengthens its trade defence capabilities and sends a warning to its trade partners. The law, which will take effect from December 1, outlines provisions related to tariffs on Chinese imports and exports, including tax incentives and China's right to retaliate against countries that break trade agreements. The move comes as tensions rise between China and the United States and European Union, validating Beijing's belief that it needs to consolidate and improve its trade defence measures. Analysts compare the law to the deterrent effect of a nuclear weapon, meant to discourage others from using tariffs against China. The growing concern over Chinese industrial overcapacity flooding the EU with cheap products is opening a new front in the trade war. Brussels is considering tariffs on Chinese electric vehicles, while China is conducting an anti-dumping probe into EU brandy.
INTERNATIONAL
UK judge accused of bullying and sexist behaviour in employment tribunal hearings
Five women in the UK have accused a judge – whom they encountered in separate cases - of bullying and sexist behaviour during employment tribunal hearings. One woman told BBC News that Judge Philip Lancaster had shouted at her at least 16 times, while another said she feared for any woman appearing before him. The women said they wanted to highlight his "degrading behaviour." All the women who the BBC has spoken to lost cases heard in Leeds in front of Judge Lancaster, although some of them have been fully or partially successful on appeal. One case heard by Judge Lancaster received publicity in the press. In 2021, Alison McDermott, an HR consultant, brought a high-profile case against Sellafield, the nuclear waste disposal and reprocessing company in Cumbria. News reports at the time referred to criticisms Ms McDermott made of Judge Lancaster. She said he yelled at her and made "sneering" comments about her earnings. "I think it mattered hugely that I was a woman," she says. "For some reason, he had a real problem with the fact that I was a well-paid professional woman." Ms McDermott lost her case, although an appeal judge found there had been errors in her tribunal and she won some minor concessions. A new tribunal is now looking at her claim. Judge Lancaster, who has been an employment tribunal judge since 2007, declined to comment when approached by the BBC.
Disneyland character performers petition for union recognition
Character performers at Disneyland in California have filed a petition for union recognition. Unlike their Florida counterparts, the California performers have multiple other gigs, often in Hollywood movies and TV. The performers are organizing to be represented by Actors' Equity Association, a union devoted to performers. They are seeking more consistent scheduling, health and safety concerns, and fair treatment. The California performers hope that union representation will give them a voice in decisions about issues such as ill-fitted costumes and performing in parades during rain.
Spanish cava producer Freixenet plans temporary layoffs due to drought
Spanish cava producer Freixenet has presented a plan to temporarily lay off 615 workers, close to 80% of the company's workforce, due to the drought affecting the Penedes area in Catalonia. The layoff plan is an exceptional measure caused by the lack of grapes resulting from the severe drought that has been affecting the sector since 2021. Vineyards in Catalonia's Penedes region are suffering from the driest period in 1,200 years. Freixenet becomes one of the first companies in Catalonia to present a temporary layoff plan. The plan is expected to come into force in May. "The measure, implemented as an exercise of responsibility, is aimed at guaranteeing the viability of the business and preserving employability in order to face external causes and force majeure caused by the severe drought," said Freixenet. Spain's ERTE law allows companies facing exceptional circumstances to temporarily lay off employees. The company did not specify when workers would be allowed to return to work. Spain has experienced its warmest January since records began in 1961 and last year was the country's second warmest.
Europeans ‘less hard-working’ than Americans, says Norway oil fund boss
Nicolai Tangen, chief executive of Norway’s $1.6tn oil fund, says Europe is less hard-working, less ambitious, more regulated and more risk-averse than the US – and the gap is getting wider.
OTHER
Lego expands presence in China with new experience-centred stores
Lego is strategically expanding its presence in China by introducing more experience-centred stores. The new store in Beijing offers an immersive playspace and amusement destination with ancient palace-themed décor. Xu Jie, vice-president of Lego China, said the beacon stores serve as hubs for fostering connections with consumers. Paul Huang, general manager of Lego China, stated that the company is blending local culture with personalised experiences to become the go-to play destination in local communities. With eight flagship stores and over 460 certified stores in China, Lego plans to tap into the market's vast potential by expanding into more cities. The company is confident in the Chinese market due to its sizable young population and middle-income families. Lego has also invested in digital options and plans to open Legoland Shanghai.
 


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