Archive for ‘Company’

06/04/2020

My Money: ‘People have started leaving their houses again’

Jen Smith in a maskImage copyright JEN SMITH
Image caption Jen Smith lives in Shenzhen, where it’s compulsory to wear a mask outside at all times

My Money is a series looking at how people spend their money – and the sometimes tough decisions they have to make. Here, Jen Smith, a children’s TV presenter from Shenzhen in southern China, takes us through a week in her life, as the country slowly emerges from the coronavirus pandemic.

Over to Jen…

Monday

Since being in lockdown I’ve been bingeing on Keeping Up With the Kardashians. It starts with one episode after dinner, blink, and suddenly it’s 3am. YouTube, Facebook, Google and Instagram are all banned here, so you’d think I’d be a binge-free socialite after a year and a half living in China. Well, those sites are banned unless you have a VPN – I pay $120 (£97) a year for mine, so Sunday was a late night, with a lie-in until 10.30 this morning.

I go for a run – mask and all, as it’s currently illegal to be outside without one. I make my coffee (bought in the UK), fruit smoothie (about 20 yuan, $2.82, £2.27) and cereal (80 yuan a packet) before cycling to work.

Today is a bit of a crazy day in the studio. I work as a children’s TV presenter. My company has profited from the lockdown as more children are watching the shows non-stop – meaning a rapid turnaround for us.

We shoot two shows from 2-6pm then “break” for a meeting. We discuss tomorrow’s shoot while I eat dinner – homemade aubergine curry. It is normal for the Chinese to eat breakfast, lunch and dinner at work. Normally the company gives all staff 25 yuan through a food-ordering app, and the whole company would eat together. However, because of the current social distancing, that social time is in the far distant past!

I make it home for 8pm, order some deep-fried cauliflower as a snack (45 yuan) and start the inevitable Kardashian binge.

Total spend: 65 yuan ($9.10, £7.37)

Tuesday
Workers napping in the officeImage copyright JEN SMITH
Image caption Workers often have a midday nap in the office

It’s a much earlier start (7.30am), but the same morning routine. On my cycle to work I notice that the traffic is almost back to normal – Shenzhen is inhabited by well over 12 million people, so as you can imagine rush hour is intense. This doesn’t change the fact that everywhere you go you have to scan a QR code – leaving my apartment, using the walkway by the river, and getting into the building I work in.

After a morning of shooting I eat homemade potato curry and settle down for a nap. Naptime is such a commonality in China that people store camp beds at the office. I order a coffee and banana chips (20 yuan) for a pick-me-up before the afternoon’s shooting.

It’s St Paddy’s Day so I head to the local pubs area, catch dinner at a French restaurant (222 yuan), then a few drinks (25 yuan – mainly bought by men at the bar for us) before a very tipsy cycle home.

Total spend: 242 yuan ($34, £25)

Disposable cover for lift buttonsImage copyright JEN SMITH
Image caption A disposable cover reduces the risk of transmitting the virus by touching lift buttonsPresentational white space
Wednesday

The morning’s shoot (thankfully) was cancelled, so I nursed a hangover in bed until around 11am, at which point I had a phone meeting for a company that I do “plus-size” modelling for (for context I’m a UK size 12). I eat a bowl of cereal and order more cauliflower (45 yuan) while I watch a film.

At 2.30pm an intern picks me up, and we head to the government building to apply for a new work visa. Ironically, the image taken for my visa is Photoshopped to remove wrinkles, freckles and my frizzy hair. When I ask why this is being done for an identification document, the intern replies that the government wants it to be neat, and “the Chinese way” is to have altered photos.

I don’t argue, and have an interview before I hand in my passport. The whole process takes around two hours, so I order food to my house while on the way home (150 yuan for burger, salad and cake!) I take a taxi across town which ends up being 39.05 yuan.

Total spend: 234.05 yuan ($33, £27)

Presentational grey line

My Money

More blogs from the BBC’s My Money Series:

Presentational grey line
Thursday

The day starts at 8.30am with coffee and reading, before I get a manicure (280 yuan). My nail lady has been very worried about the state of my hands during the virus, so she spends a whopping two and a half hours treating them while I watch a film (0.99 yuan – bought by her). Because the manicure was so long I don’t have time to eat lunch before our fitness shoot, which runs from 2-5.30pm. I then have an appointment to sign into a building which I’ll shoot in tomorrow.

The building is near a supermarket called Ole (one of the only western supermarkets), and I pick up groceries for 183 yuan before heading home to cook, listen to podcasts and prep for the big day of shooting on Friday.

Total spend: 463 yuan ($64, £52.5)

Jen Smith filming a TV show in front of a green screenImage copyright JEN SMITH
Image caption Jen filming in front of a green screen – a more colourful digital background will be added later in post-production
Friday

Fridays are generally my busiest day. The way the Chinese seem to function, is a boss will say “I want this done now” and then employees rush to finish it. Generally, they will write scripts on Monday and Tuesday, discuss Wednesday, then we shoot later in the week. The poor editors, despite mandatory office hours during the week, then have to work tirelessly through the weekend to achieve a Sunday evening deadline.

I start with mashed avocado and a hard-boiled egg before work. The morning shoot runs from 9.30-11.40am, and I have an early lunch – homemade curry again, before my regular nap time. The afternoon shoot is three hours, so I have time to pop home and shower before a live stream at 6pm. I take a taxi to and from the live stream which ends up being 28 yuan.

Total spend: 28 yuan ($3.92, £3.18)

Plastic sheeting attached to car seats in a taxiImage copyright JEN SMITH
Image caption A taxi driver has improvised a screen to reduce the risk of picking up Covid-19 from a passenger
Saturday

Finally the weekend! Although things are slowly getting better in China after the coronavirus outbreak, there’s still not too much to do. So I use this time to write, play my piano and generally chill inside. Around 3pm, I venture outside to the shops to pick up some snacks (159.60 yuan) before settling in to ring my family back in the UK with a homemade cocktail – a friend of mine in Canada is doing a daily live stream, “quarantinis” where he teaches you how to make cocktails!

What’s interesting is that a lot of people have started leaving their houses again, but it is still illegal to go outside without a mask on, and temperature checks are taken everywhere. I was even refused entry to a building due to being foreign. I imagine this is because recently the only new cases are being brought in by non-Chinese travelling back to China.

Total spend: 159.60 yuan ($22, £18)

Jen Smith in front of an empty Metro stationImage copyright JEN SMITH
Image caption Shenzhen’s Metro system is still very quiet
Sunday

It’s another slow day for me as many foreigners have not yet returned to China, so most of my friends are out of the country. I start the day by reviewing potential scripts.

This takes me to 1.30pm without realising I haven’t eaten. I decide to go for a quick run and I return to eat mashed avocado and a hard-boiled egg.

I home-bleach my hair with products bought in the UK, then head back to editing again. About half way through the afternoon I take a little break to practice Chinese. I use an app which is fantastic and free! Definitely worth everyone downloading this during social distancing so you can learn new skills!

For dinner I order online again, a three-dish meal for 160 yuan.

Total spend: 160 yuan ($22.4, £18)

Overall weekly spend: 1352 yuan ($189, £153)

Source: The BBC

19/11/2019

Tata Steel to cut 3,000 jobs in ‘severe’ market

Port TalbotImage copyright GETTY IMAGES
Image caption Port Talbot employs just under half of Tata’s 8,385 UK workforce

Tata Steel plans to cut as many as 3,000 jobs across its European business in another bid to come to terms with a “severe” international steel market.

The company wants to focus on higher-value products, it said, adding there would be no plant closures.

About two thirds of the job cuts will be office-based, it added.

The announcement comes after a merger with German rival Thyssenkrupp was blocked during the summer. Bosses had hoped the deal could reduce costs.

“Today we are highlighting important proposals towards building a financially strong and sustainable European business,” said Henrik Adam, chief executive of Tata Steel in Europe.

“We plan to change how we work together to enable better cooperation and faster decision-making. This will help us become self-sustaining and cash positive in the face of unprecedented severe market conditions, enabling us to lead the way towards a carbon-neutral future.”

The business employs about 20,000 people and is owned by India’s Tata.

Port Talbot steelworks employs just under half of Tata’s 8,385-strong workforce in the UK.

Wales’ economy minister Ken Skates said: “I am seeking an urgent conversation with Tata to establish what this means for workers in Wales and how we can support those affected by this announcement.”

Last week, Chinese firm Jingye agreed to invest £1.2bn in British Steel as it signed a deal to rescue the UK steelmaker.

It also said it would seek to “preserve thousands of jobs in a key foundation industry for the UK” but did not put a number on how many would be saved.

British Steel employs about 4,000 people in Scunthorpe and Teesside.

It has been kept running by the government via the Official Receiver since May when the company went into liquidation.

Source: The BBC

12/09/2019

Why is India’s car industry in breakdown mode?

India’s second-biggest manufacturer of commercial vehicles, Ashok Leyland, is suspending production at several units from five to 18 days in September, triggering fears that the slump in the automotive sector shows no sign of letting up. The BBC’s Nitin Srivastava reports.

Ram Mardi is worried he may lose his job. He works for a company that makes spare parts for cars and heavy vehicles in Jamshedpur, an industrial city in eastern India. But he has worked only 14 days in August.

“We had a comfortable life until recently. Now, it’s hard to arrange food or pay for the children’s education,” Mr Mardi says.

The factory he works at temporarily suspended production for half of the month to reduce inventory in the face of shrinking demand.

Industry heavyweights such as Maruti, Tata Motors and Mahindra & Mahindra have all announced production cuts over the past several months.

Workers assemble a car at a FCA India Automobiles manufacturing facility in Ranjangaon, some 200km east of Mumbai.Image copyright GETTY IMAGES
Image caption India’s automotive industry employs some 35 million people

India’s economy is facing a slowdown. It grew at 5% in the quarter ending June 2019 – its lowest in five years. This – along with a drop in private investment and a banking crisis that has made it hard to access credit – has weakened consumer demand.

The Indian government is also pushing for a transition to electric vehicles over the next decade, which some experts believe, has contributed to falling vehicle sales.

As the automotive industry declined for the 10th month in a row in August, car sales dropped by 41% – the steepest fall in two decades.

The industry is one of India’s biggest, considering it employs some 35 million people, directly or indirectly, and contributes more than 7% to the country’s GDP.

By some estimates, more than 100,000 workers, many of them contractual, have lost their jobs so far. Now fears are rising that if demand continues to fall, forcing lower production, more jobs could disappear.

Small and medium businesses – thousands of ancillary units that supply to the big manufacturers – have been hit the hardest. And daily wage labourers such as Mr Mardi are the most vulnerable.

And employers are also concerned. “I have never had so much trouble keeping my factory up and running”, says Sameer Singh, who heads a family-owned business in Jamshedpur that makes spare parts for vehicles.

“My employees are jobless for a few weeks and I feel for them. If this continues they may move out, perhaps find another job. But I can’t even look out for a job. My life starts and ends here”.

Mr Singh says it’s also been hard for business owners, companies and consumers to borrow money because banks have tightened credit lines after a spike in bad loans in recent years dented their balance sheets.

Vehicles on a road in MumbaiImage copyright GETTY IMAGES
Image caption Car sales in India have dropped to their lowest in 20 years

“The fall [in production] is so large and so dramatic that it has affected every single product – two-wheelers, car, commercial vehicles,” says Sanjay Sabherwal, member of the Automotive Component Manufacturers Association of India, an industry body.

Auto executives have been demanding tax cuts and easier access to financing for manufacturers, sellers and consumers. The government recently announced a slew of measures – this includes a delay in increasing the registration fees for new vehicles and asking banks to lower interest rates on loans for cars and two-wheelers.

But, will that be enough? That is hard to say with experts calling this the worst downturn to ever hit India’s automotive industry.

Source: The BBC

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