World

BERLIN: The semiconductor crunch that has battered the auto sector leaves carmakers with a stark choice: pay up, stock up or risk getting stuck on the sidelines as chipmakers focus on more lucrative business elsewhere. Car manufacturers including Volkswagen, Ford and General Motors have cut output as the chip market was swept clean by makers of consumer electronics such as smartphones - the chip industry's preferred customers because they buy more advanced, higher-margin chips. The semiconductor shortage - over US$800 worth of silicon is packed into a modern electric vehicle - has exposed the disconnect between an auto industry spoilt by decades of just-in-time deliveries and an electronics industry supply chain it can no longer bend to its will. "The car sector has been used to the...

The U.S. Securities and Exchange Commission has formed an enforcement task force to examine misconduct related to environmental, social and governance issues as the regulator ramps up a focus on climate and other hot-button topics. WASHINGTON: The U.S. Securities and Exchange Commission has formed an enforcement task force to examine misconduct related to environmental, social and governance issues as the regulator ramps up a focus on climate and other hot-button topics. The SEC has deployed a 22-person team that will focus on disclosures from public companies related to issues such as climate change, investment-advisor activities and funds dedicated to ESG investments, the agency said on Thursday. This is the latest in a series of SEC moves in recent weeks under President Joe Biden...

NEW DELHI: An overcrowded bus drove off a bridge and into a canal in central India on Tuesday (Feb 16), killing at least 40 people, an official said. Six people were rescued after the accident near Satna village in Madhya Pradesh state, District Magistrate Ravindra Kumar Choudhary said. He said more than 46 people were on board the bus, which was designed for 34. Rescuers recovered 40 bodies and are searching for other passengers. It was unclear what caused the bus to swerve, but India's vast network of roads is poorly maintained and notoriously dangerous. Local media reported the bus was completely submerged, and images showed officials in orange life jackets using rescue boats to look for survivors. The state government has ordered an inquiry into the accident. An init...

The European Union said it is considering sanctions on Myanmar while the United States penalized two more generals for links to the military coup, as Western countries sought to press the junta to avoid a violent crackdown after weeks of protests. Junta leader Gen. Min Aung Hlaing called for energy to be put into reviving the ailing economy, state media reported, a day after a general strike shut businesses and huge crowds gathered despite a warning from authorities that confrontation could get people killed. U.N. Special Rapporteur Tom Andrews said millions had marched on Monday in a "breathtaking" turnout, despite the junta's threat. "The generals are losing their power to intimidate and with it, their power. It is past time for them to stand down, as the people of Myanmar stand up," ...

Dr. Seuss Enterprises, the business that preserves and protects the author and illustrator's legacy, announced on his birthday, Tuesday, March 2, 2021, that it would cease publication of several children's titles including "And to Think That I Saw It on Mulberry Street" and "If I Ran the Zoo," because of insensitive and racist imagery. Six Dr. Seuss books — including "And to Think That I Saw It on Mulberry Street" and "If I Ran the Zoo" — will stop being published because of racist and insensitive imagery, the business that preserves and protects the author's legacy said Tuesday. "These books portray people in ways that are hurtful and wrong," Dr. Seuss Enterprises told The Associated Press in a statement that coincided with the late author and illustrator's birthday. "Ceasing sales of ...

President Joe Biden speaks about the situation in Myanmar in the South Court Auditorium of the Eisenhower Executive Office Building in Washington, DC, on February 10, 2021. President Joe Biden spoke with Chinese President Xi Jinping by phone Wednesday evening for the first time since taking office, according to the White House. According to a White House statement, Biden raised his "fundamental concerns" about Beijing's "coercive and unfair economic practices, crackdown in Hong Kong, human rights abuses in Xinjiang, and increasingly assertive actions in the region, including toward Taiwan." The statement said the two leaders also discussed countering the Covid-19 pandemic, and "the shared challenges of global health security, climate change, and preventing weapons proliferation." Offic...

Myanmar’s internet-savvy younger generation is finding ways around communication blackouts almost as quickly as restrictions are imposed, says a human rights lecturer. SYDNEY: Social media has given us valuable access to the actions of both the military and anti-coup protesters in Myanmar, but a communication blackout may be coming. The country’s military seized control of the government on Feb 1, after the National League for Democracy (NLD) won the general election in a landslide. The opposition-backed army has since detained hundreds of NLD members, including party leader Aung San Suu Kyi. Thousands have taken to the streets in protest, relying heavily on open communication channels to broadcast military abuses from inside and receive support from outside. And activists likely h...