Archive for ‘disruption’

31/05/2020

Spotlight: Washington faces blast at home, abroad for “terminating” ties with WHO

BEIJING, May 31 (Xinhua) — The U.S. government has been slammed at home and abroad after announcing on Friday “terminating” its relationship with the World Health Organization (WHO).

U.S. health experts and lawmakers have expressed concern over the decision announced by President Donald Trump amid the COVID-19 outbreak.

Patrice Harris, president of the American Medical Association, described Trump’s move as a “senseless” action with “significant, harmful repercussions.”

“COVID-19 affects us all and does not respect borders; defeating it requires the entire world working together,” Harris was quoted by CNN as saying, urging Trump to reverse the course.

Lawrence Gostin, a professor of global health law and director of the O’Neill Institute for National and Global Health Law at Georgetown University, described the move as “foolish and arrogant” in his Twitter account.

“Trump’s action is an enormous disruption and distraction during an unprecedented health crisis,” said Gostin, also the director of the WHO collaborating center on national and global health law. “The President has made us less safe.”

Democratic Senator Joe Manchin of West Virginia said that “the United States cannot eliminate this virus on its own and to withdraw from the World Health Organization — the world’s leading public health body — is nothing short of reckless,” according to a CNN report.

Even within the Republican party, some Republicans also expressed their disagreement. Senate Health Committee Chairman Lamar Alexander reportedly said he disagreed with Trump’s decision, because, without U.S. funding, clinical trials to develop a COVID-19 vaccine might be hampered.

In addition, the European Union (EU) has urged the United States to reconsider its termination of ties with the WHO, warning that Trump’s move would erode global efforts to curb the spread of the virus.

“The WHO needs to continue being able to lead the international response to pandemics, current and future. For this, the participation and support of all is required and very much needed. In the face of this global threat, now is the time for enhanced cooperation and common solutions. Actions that weaken international results must be avoided,” Ursula von der Leyen, president of the European Commission, and Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, said in the statement on Saturday.

“In this context, we urge the U.S. to reconsider its announced decision,” the statement said.

German Health Minister Jens Spahn tweeted that Trump’s move was “a disappointing backlash for International Health.”

“The EU must take a leading role and engage more financially,” Spahn said, noting that this would be one of Germany’s priorities when it becomes the bloc’s rotating presidency on July 1.

British Prime Minister Boris Johnson’s spokesperson said earlier that Britain “has no plans to stop funding the WHO, which has an important role to play in leading the global health response.”

“Coronavirus is a global challenge and it is essential that countries work together to tackle this shared threat,” the spokesperson was quoted by The Guardian as saying.

Irish Minister for Health Simon Harris on Friday described Trump’s move as an “awful decision.”

“A global pandemic requires the world working together … We should unite in our fight against it (COVID-19) & not fight each other,” Harris tweeted.

Russian Foreign Ministry spokesperson Maria Zakharova told TASS news agency that Washington “dealt a blow” to the international framework for cooperation in healthcare at the moment when the world needed to join forces.

Source: Xinhua

03/03/2020

European auto industry’s plans to cut costs and jobs

(Reuters) – Europe’s auto industry is facing a slowdown in demand for new cars, as well as disruption from the coronavirus epidemic and import tariffs between China and the United States. As a result, several companies have announced plans to cut costs and jobs.

Here is a summary of the steps announced so far:

AUTOMAKERS:

VOLKSWAGEN GROUP (VOWG_p.DE)

Volkswagen said in March 2019 it would cut up to 7,000 positions and aim to deliver 5.9 billion euros ($6.7 billion) of annual savings at its core VW brand by 2023.

Volkswagen’s luxury car unit Audi (NSUG.DE) said in November it would cut one in ten jobs by 2025, up a total of 9,500, to fund its shift towards electric vehicle production.

PSA GROUP (PEUP.PA), FIAT CHRYSLER (FCHA.MI)

PSA’s German unit Opel said in February it was ruling out forced redundancies until July 2025, but would reopen a voluntary leave programme for older employees.

Unions at Fiat Chrysler, which is planning a merger with PSA, said management promised to avoid redundancies and get all group employees off special furlough arrangements and back to work by 2022.

The merger aims to achieve annual savings of 3.7 billion euros.

BMW (BMWG.DE)

In November, BMW management and its German labour representatives reached an agreement on changes to payout schemes and bonuses to reduce costs in Germany while avoiding “drastic measures”. BMW has said it will keep headcount stable, as hiring in software development will offset voluntary staff reductions in other areas.

DAIMLER (DAIGn.DE)

In February, German business daily Handelsblatt reported Daimler (DAIGn.DE) was intensifying its cost-cutting measures and planning to cut up to 15,000 jobs. Daimler declined to comment.

Daimler Chief Executive Ola Kaellenius said in February the company would cut 1,100 leadership positions worldwide, or about 10% of its management over the next three years.

The company also said it would revamp the management of its portfolios to remove duplicate layers between Mercedes-Benz and Daimler AG.

VOLVO CARS

In July 2019, Volvo Cars announced plans to cut fixed costs by 2 billion Swedish crowns ($214 million), adding the savings drive – on which it did not provide details – would come into effect in the second half of 2019 and run into the first half of 2020.

JAGUAR LAND ROVER

In February, Britain’s biggest carmaker Jaguar Land Rover (TAMO.NS) said it would reduce or stop production on certain days at two of its British factories as it was pursuing cost-cutting measures in response to falling demand.

A month earlier, the company said it would cut around 10% of the workforce at its northern English Halewood factory, which has about 4,500 employees, as it was changing shift patterns to boost efficiency at the site.

RENAULT (RENA.PA)

After Renault’s first full-year loss in a decade, the French automaker said it would cut costs by 2 billion euros over the next three years and did not exclude job cuts during a performance review across its factories.

BOSCH

In January, German engineering company Bosch said it would make staff changes via shorter working hours, voluntary redundancy and severance packages, but declined to provide a global figure for headcount reductions.

CONTINENTAL (CONG.DE)

German automotive supplier Continental said in November it would pare back its engine manufacturing activities, which could result in around 5,040 job losses by 2028.

Source: Reuters

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India