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Auto workers call for strikes against Detroit companies

United Auto Workers union members walk in the Labour Day 2019 parade in Detroit, United States. PHOTO: AP

LOUISVILLE, KENTUCKY (AP) – Auto workers have voted overwhelmingly to give union leaders the authority to call strikes against Detroit, United States (US) car companies if a contract agreement isn’t reached.

The United Auto Workers (UAW) union said that 97 per cent voted in favour of authorising one or more strikes against Stellantis, General Motors and Ford. Such votes are almost always approved by large margins.

Contracts between the union representing about 146,000 workers at Stellantis, General Motors and Ford expire at 11.59pm on September 14. UAW President Shawn Fain said earlier this week that negotiations with the companies are not progressing fast enough. But he also said a strike is not inevitable.

Contract talks with the Detroit Three began in July, but Fain has consistently said the companies aren’t bargaining seriously.

In a statement on Friday, the UAW said the vote does not guarantee that a strike will be called.

Fain told members on Facebook Live on Friday that the union still hasn’t picked a target company for a strike and could walk out against all three.

“Things could always shift in bargaining if something miraculous happened with one of the companies, it could change,” he said. “We want contracts by September 14 with all three.”

The companies have said they’re bargaining in good faith at a time of unprecedented change in the auto business.

United Auto Workers union members walk in the Labour Day 2019 parade in Detroit, United States. PHOTO: AP

The industry is spending billions to make the transition from internal combustion engines to battery power to cut pollution and fight climate change.

Stellantis, which has drawn much of Fain’s ire in recent weeks, said on Friday that negotiations continue to be constructive and collaborative.

The company said it wants an agreement that will balance employee concerns and position Stellantis to meet the challenges US marketplace and secures the future for all of the employees, their families and their company.

Ford said it’s working with the UAW on creative solutions during this time when our dramatically changing industry needs a skilled and competitive workforce more than ever.

President Joe Biden said on Friday he is concerned about the possibility of a mid-September strike, one that could cripple an industry responsible for about three per cent of the nation’s economy. Speaking to reporters from his vacation in South Lake Tahoe, California, Biden said UAW members should get the first shot at new jobs – appearing to refer to positions at factories that will make battery cells for electric vehicles (EV). Salaries at the new plants should be commensurate with current wages paid to UAW workers, he said.

In the contract talks, the UAW is seeking a 40 per cent pay increase, restoration of pensions for new hires, elimination of wage tiers and other items.

Fain has often told workers they have to be ready to strike in order to achieve gains from the profitable automakers.

The union also wants to represent joint venture EV battery plants being built by the companies, and it’s seeking top union wages at those factories.

Assembly line inspector Jason Hale at Ford’s Kentucky Truck Plant in Louisville, said he voted to authorise a strike. He hopes the union will be able to win general pay raises and restore cost-of-living pay increases and pensions for all workers.

Japan formulates strategy to tackle gas price increase

    PHOTO: ENVATO

    ANN/THE JAPAN NEWS – The Japanese government is planning to implement more strategies by the end of August to address the steep surge in gasoline and other fuel costs.

    Prime Minister Fumio Kishida directed Liberal Democratic Party’s (LDP) Policy Research Council Chairman Koichi Hagiuda to formulate the measures during a meeting at the Prime Minister’s Office in Tokyo.

    Kishida is also arranging for a significant stimulus package to be developed next month.

    The package will encompass assistance for industries experiencing growth and actions aimed to mitigate the impact of elevated prices.

    “We will make sure that the public is able to feel the effects of the measures in early September,” the Prime Minister told reporters after the meeting.

    PHOTO: ENVATO

    The government will consider measures to keep gasoline prices low, including the continuation of subsidies currently given to oil wholesaler after October.

    The subsidies to oil wholesalers are set to expire at September end. With oil prices having temporarily calmed, the government has begun to reduce subsidies. However, the national average price of regular gasoline rose to JPY181.9 per litre as of August 14, the highest level in 15 years since August 2008, due mainly to production cuts in oil-producing countries and the weakening of the yen in the foreign exchange market.

    Some LDP members have proposed application of the currently frozen trigger clause, a provision allowing for a temporary gasoline tax reduction when prices soar to a certain level.

    “While taking into account the situation of various prices, I would like to come up with economic measures in September,” Kishida told the reporters.

    In addition to supporting growing industries such as semiconductors and encouraging companies to raise wages, the government also plans to study the possibility of continuing to subsidise electricity and city gas after October, according to a senior government official.

    The government is preparing to submit a draft supplementary budget for fiscal 2023 to an extraordinary Diet session, expected to convene in October.

    Shares in Seoul decline

      PHOTO: ENVATO

      ANN/THE KOREA HERALD – Seoul stocks concluded with a decline tracking losses on Wall Street.

      The Korean won saw a decrease in value against the US dollar. The benchmark Korea Composite Stock Price Index fell 18.54 points, or 0.73 per cent, to close at 2,519.14.

      Trading volume was moderate at 569.76 million shares worth KRW8.19 trillion (USD6.2 billion), with decliners outnumbering gainers 488 to 367.

      Institutions and foreigners sold a combined KRW369 billion worth of stocks, offsetting individuals’ stock selling valued at KRW381 billion.

      Overnight, the Dow Jones Industrial Average fell 1.1 per cent, and the tech-heavy Nasdaq Composite declined 1.9 per cent.

      In Seoul, most large-cap stocks were mixed. Market heavyweight Samsung Electronics fell 1.6 per cent to KRW67,100, number two chipmaker SK hynix dropped 3.6 per cent to KRW116,500, national flag carrier Korean Air Co shed 0.9 per cent to KRW23,150, and top carmaker Hyundai Motor Co was down 0.1 per cent to KRW186,200.

      Among gainers, leading battery maker LG Energy Solution rose 2.1 per cent to KRW546,000, leading cosmetics firm AmorePacific Corp gained 2.1 per cent to KRW546,000, and leading wireless services provider SK Telecom Co was up 0.1 per cent at KRW47,150. The local currency closed at KRW1,325.20 against the US dollar, down KRW2.6 from the previous session’s close.

      PHOTO: ENVATO

      Crude palm oil projects at MYR4,130 per tonne

        PHOTO: ENVATO

        ANN/THE STAR – The trajectory of the crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to remain upward.

        The projection is attributed to the consistent and high demand for palm oil, especially from China.

        Head of Commodity Research Anilkumar Bagani at Sunvin Group in Mumbai, observed substantial acquisitions of refined bleached deodorised (RBD) palm olein by China.

        Approximately 48,000 tonnes were purchased for October, falling within the price range of USD899-900 per tonne.

        “Similarly, around 144,000 tonnes of RBD palm olein were traded on Thursday at USD898-900 per tonne,” Bagani said

        PHOTO: ENVATO

        “This heightened activity was complemented by the trade of about 15,400 tonnes of palm oil across China’s cash markets,” he told Bernama, forecasting that CPO futures would trade between MYR4,050 and MYR4,130 next week.

        For the week just ended, CPO futures traded mostly higher following the uptrend in soybean oil futures on the Chicago Board of Trade and the surge in Chinese vegetable oil futures in the Dalian Commodity Exchange. On a weekly basis, the September 2023 contract inched up MYR6 to MYR3,860 per tonne, October 2023 added MYR73 to MYR3,937 and November 2023 increased MYR91 to MYR3,962.

        December 2023 gained by MYR 104 to MYR 3,982 per tonne, January 2024 added MYR108 to MYR4,001 and February 2024 improved MYR106 to MYR4,014.

        Total weekly volume eased to 270,241 lots from 285,007 in the preceding week and open interest rose to 200,992 contracts from 193,505 previously.

        South Korea’s Internet giant unveils new AI

          Naver Chief Executive Officer Choi Soo-yeon addresses the gathering during a conference in Seoul, South Korea. PHOTO: THE KOREA HERALD

          SEOUL (ANN/ THE KOREA HERALD) – South Korean Internet giant Naver unveiled HyperClova X. This is an upgraded version of its hyperscale artificial intelligence (AI) model, boasting greater Korean language skills than its United States (US) rivals, OpenAI’s ChatGPT and Google’s Bard.

          In response to the global generative AI craze brought about by ChatGPT late last year, the South Korean IT firm chose HyperClova X to be the backbone model of its AI-powered services, becoming its future growth engine.

          “Naver dreams of changing the world with technology. We’re ready to face the new change opened by generative AIs,” Naver Chief Executive Officer (CEO) Choi Soo-yeon said in her keynote speech at a press conference in Seoul.

          In a bid to raise its competitiveness, the CEO said HyperClova X was equipped with large amounts of data and technology by learning information starting from several decades ago until the present, covering several sectors including search engines, shopping, reservation platforms and videos.

          “We’ve spent some KRW1 trillion on AI over the past five years. We’ve steadily invested 22 per cent of our operating profit in research and development to realise the up-to-date technologies and quality data of HyperClova X,” Choi said.

          “Our own Internet data centre also played a big role in advancing the technology.”

          Naver’s latest AI tool, the world’s third-largest language learning model and the number one in Korea, is able understand Korean social context, laws and systems more accurately and naturally, the company said. Compared to the 3.5 version of GPT, the Naver model has learnt 6,500 times more Korean data.

          Naver Chief Executive Officer Choi Soo-yeon addresses the gathering during a conference in Seoul, South Korea. PHOTO: THE KOREA HERALD

          Naver Cloud’s Head of Technology Sung Nako highlighted that HyperClova X’s winning rate compared to the 3.5 version of GPT is 75 per cent. Naver’s advanced technology also decreased its Korean-based hyperscale AI hallucinations by 72 per cent, Naver’s chief scientist Kim Young-bum said. The CEO also hinted that the company will open a new large data centre in the central city of Sejong in November, housing more than 600,000 units of servers to further accelerate its massive data-analysing capabilities. The data centre is expected to play an important role as a centre for the company’s hyperscale AI services, while preserving massive amounts of data, she added. At Thursday’s event, Naver disclosed two HyperClova X-based services: Clova X and Cue:.

          Clova X, which kicked off its beta testing at 4pm the same day, is a large language model-based AI chatbot.

          It can provide the most appropriate responses to various user demands based on its conversational style, versatile ability to create stories, summarise and translate texts and encode languages.

          Users can take multiple turns to ask questions and get answers through the service. “Clova X will serve as a tool to make life more convenient and improve work productivity,” Sung said. “Based on excellent Korean and English language skills and vast knowledge, it can be used for a variety of purposes, from getting help with business writing such as business reports or self-introductions, to practicing for interviews and counselling.”

          Cue: is a new interactive AI chatbot developed specifically for online searching.

          It can understand complex and long queries containing complex intentions and provides three-dimensional search results using reliable up-to-date information necessary for generating answers.

          The beta service is scheduled to start next month and will be applied to Naver’s integrated search within the year.

          Naver plans to focus on strengthening cooperation with other companies centering on generative AI and increasing its partners’ business productivity by using the AI tool for various endeavours.

          “We’ll support our sellers, creators and partners to encourage their diversity and grow further with our technology,” Choi said.

          “We hope that the system will be established in a win-win way for content companies and technology companies in the AI data learning process,” she said.

          “We’ll also work with global partners such as Samsung Electronics to find optimised models, such as AI semiconductor chips.”

          Fukushima residents cautious after nuclear plant releases wastewater

          Prices for flounder was about 10 per cent lower during an auction after radioactive wastewater was released. PHOTO: AP

          IWAKI, JAPAN (AP) – Fish auction prices at a port south of the Fukushima Daiichi nuclear power plant were mixed on Friday amid uncertainty over how seafood consumers will respond to the release of treated and diluted radioactive wastewater into the ocean.

          The plant, which was damaged in the 2011 earthquake and tsunami, began sending the treated water into the Pacific on Thursday despite protests at home and in nearby countries that are adding political and diplomatic pressures to the economic worries.

          Middleman Hideaki Igari at the Numanouchi fishing port said the price of larger flounder, Fukushima’s signature fish known as Joban-mono, was more than 10 per cent lower at the Friday morning auction, the first since the water release began.

          Prices of some average-size flounder rose, but presumably due to a limited catch, said Igari.  Others fell.

          It was a relatively calm market reaction to the water release. But, Igari said, “we still have to see how it goes next week”.

          The decades long release has been strongly opposed by fishing groups and criticised by neighbouring countries.

          A citizens’ radiation testing centre said it’s getting inquiries and expects more people might bring in food, water and other samples as radiation data is now a key barometer for what to eat.

          Prices for flounder was about 10 per cent lower during an auction after radioactive wastewater was released. PHOTO: AP

          Japanese fishing groups fear the release will do more harm to the reputation of seafood from the Fukushima area.

          They are still striving to repair the damage to their businesses from the meltdown at the power plant after the earthquake and tsunami.

          “We now have this water after all these years of struggle when the fish market price is finally becoming stable,” Igari said after Friday’s auction.

          “Fisheries people fear that prices of the fish they catch for their living may crash again, and worry about their future living.”

          The Japanese government and the plant’s operator, Tokyo Electric Power Company Holdings (TEPCO), said the water must be released to make way for the facility’s decommissioning and to prevent accidental leaks of insufficiently treated water. Much of tank-held water still contains radioactive materials exceeding releasable levels.

          Some wastewater at the plant is recycled as coolant after treatment, and the rest is stored in around 1,000 tanks, which are filled to 98 per cent of their 1.37 million-tonne capacity.

          The tanks cover much of the complex and must be cleared out to make room for new facilities needed for the decommissioning process, officials say. Authorities said the wastewater after treatment and dilution is safer than international standards require, and that its environmental impact will be negligible.

          On Friday, the first seawater samples collected after the release were significantly below the legally releasable levels, the power company said.

          But, having suffered a series of accidental and intended releases of contaminated water from the plant early in the disaster, hard feelings and distrust of the government and TEPCO run deep in Fukushima – especially in the fishing community.

          TEPCO said the release will take 30 years, or until the end of the plant decommissioning.

          People fear that could mean a tough future for youths in the fishing town, where many businesses are family-run.

          Fukushima’s current catch already is only about one-fifth its pre-disaster level due to a decline in the number of fishers and decreased catch sizes.

          The government has allocated JPY80 billion, about USD550 million, to support fisheries and seafood processing, and to combat potential reputation damage by sponsoring campaigns to promote Fukushima’s Joban-mono and processed seafood.

          TEPCO has promised to deal with reputational damage claims. Head of the Fukushima Prefectural Fisheries Cooperatives Tetsu Nozaki, said in a statement on Thursday that worries of the fishing community will continue for as long as the water is released.

          “Our only wish is to continue fishing for generations in our home town, like we used to before the accident,” Nozaki said.

          Fish prices largely depend on the sentiment of wholesalers and consumers in the Tokyo region, where large portions of the Fukushima catch goes.

          At the Friday auction at the Numanouchi port, the price for flounder was down from its usual level of about JPY3,500 (USD24) per kilogrammes to around JPY3,000 (USD20), said Igari.

          “I suspect the result is because of the start of the treated water release from the Fukushima Daiichi and fear about its impact,” he said.

          Igari said the discharge is discouraging but hopes careful testing can prove the safety of their fish.

          “From the consumers’ point of view about food safety at home, I think the best barometer is data,” he said. – Mari Yamaguchi

          South Africa send NZ crashing to record defeat

          South Africa's Kwagga Smith celebrates with teammates after scoring a try. PHOTO: AP

          AFP – Reigning champions South Africa completed their World Cup preparations with a record 35-7 rout of 14-man New Zealand as the All Blacks suffered their all-time heaviest margin of defeat yesterday.

          The Springboks scored five tries, through captain Siya Kolisi, wing Kurt-Lee Arendse, hooker Malcolm Marx and replacements Bongi Mbonambi and Kwagga Smith – all converted by fly half Manie Libbok – in a stunning display at Twickenham.

          New Zealand’s defeat topped the 21-point losses they suffered when going down 28-7 to Australia in 1999 and 47-26, also to the Wallabies, in 2019. This result saw South Africa surpass their previous winning margin against arch-rivals New Zealand achieved in a 17-0 success at Durban back in 1928.

          New Zealand’s fate was all but sealed by having to play just over half the warm-up match a man down after Scott Barrett was sent off shortly before the break for a second yellow card, the lock flying into a ruck and clattering Marx in the head.

          The Springbok pack were in dominant form in what was the first match between the arch rivals at Twickenham since the All Blacks won 20-18 in a 2015 World Cup semi-final before lifting the Webb Ellis Trophy. “It was a very good start for us, a great performance by the team,” said South Africa full-back Damian Willemse, yesterday’s player of the match.

          “This will give us some momentum going into the Rugby World Cup. I am the man of the match, but credit to the forwards, they put in a hell of a shift tonight.”

          New Zealand Captain Sam Cane, who like Scott Barrett received a first-half yellow card, said, “Our discipline really hurt us and their ability to dominate scrum, maul, line out and set piece made it really hard for us to get anything going.”

          He added, “We are going to have to learn quickly, but I would much rather we have it now than in a few weeks’ time.”

          South Africa’s Kwagga Smith celebrates with teammates after scoring a try. PHOTO: AP

          Kitaguchi grabs women’s world javelin title with last throw

          Kitaguchi Haruka celebrates after winning the women's javelin throw final. PHOTO: XINHUA

          BUDAPEST (AFP) – Haruka Kitaguchi of Japan won the women’s javelin world title in dramatic fashion yesterday, producing the decisive effort with her final throw.

          The 25-year-old sent the spear soaring out to 66.73 metres (m) to dash the dreams of Flor Denis Ruiz Hurtado, the 32-year-old Colombian who had led from the first round with 65.47m and had looked on course for a shock victory.

          Mackenzie Little of Australia also snuck into the medals with her final throw, taking bronze with 63.38m.

          Kitaguchi, who may well get to defend her title in front of her home fans in Tokyo in two years’ time, believes she might have given the javelin newfound popularity in Japan after winning her country’s first gold medal of these championships.

          “Javelin is not a very popular event in Japan but I think it’s becoming more and more popular. Before, nobody knew about this event but now when I got gold, I think it will be more popular,” she said.

          Kitaguchi said her Czech coach David Sekerak was “more or less screaming at me” as he tried to motivate her from the stands in Budapest.

          “But I think everything just came together in the last attempt and it was great,” she said.

          Kitaguchi Haruka celebrates after winning the women’s javelin throw final. PHOTO: XINHUA

          Sanchez returns to Inter Milan

          PHOTO: XINHUA

          MILAN (AFP) – Alexis Sanchez has returned to Inter Milan as a free agent after leaving Marseille, the Serie A club announced yesterday.

          In a statement, Inter said Sanchez “has signed a contract with the club until June 30 2024” worth a reported EUR2.8 million.

          Attacker Sanchez, considered Chile’s greatest ever footballer and a two-time Copa America winner, scored 18 times for Marseille last season after moving to France from Inter.

          The 34-year-old was part of the Inter team to win Serie A in 2021 and last summer agreed with Inter to terminate his contract, being paid a golden parachute of EUR4 million.

          He comes back to a club with different striking line-up, with Edin Dzeko and Romelu Lukaku both gone and Joaquin Correa moving to Marseille on loan.

          Sanchez will now be battling with Marcus Thuram and Marko Arnautovic for a spot alongside World Cup-winning captain Lautaro Martinez.

          Inter travel to Sardinia to take on Cagliari in their second league fixture of the new season late tomorrow.

          PHOTO: XINHUA

          Sterling sparkles as Poch earns first Chelsea win

          Chelsea's Raheem Sterling and Luton Town's Amari'i Bell vie for the ball. PHOTO: AP

          LONDON (AFP) – Raheem Sterling sparkled with a brace and Nicolas Jackson bagged his first goal for the club as Chelsea swept aside Luton 3-0 to give Mauricio Pochettino his first Premier League win as Blues boss yesterday.

          Sterling extended his impressive start to the season with a dazzling display that featured a sublime opener followed by a well-taken second and then an assist for Jackson.

          The England forward’s return to form is the first sign Pochettino is starting to revitalise a team that struggled so badly last season.

          Pochettino, who only took charge in July, has quickly brought the best out of Sterling after his career looked in danger of fizzling out following a lacklustre first season with Chelsea.

          “Mindset-wise I came to Chelsea at a difficult period. The most important thing is I’ve had a look at myself and I want to get back to being obsessed with football, it’s as simple as that,” Sterling said.

          Chelsea’s Raheem Sterling and Luton Town’s Amari’i Bell vie for the ball. PHOTO: AP

          “Your head can be a bit blurry and sometimes you need that clear vision. My love for football is too much, for me at this age of 28, to fizzle out.”

          Pochettino added, “Raheem needs to feel the confidence and be free on the pitch. I am very pleased for him and he needs to keep going and contribute with goals and assists.”

          Tipping Jackson as a future star after his maiden goal, Pochettino said, “He is going to score goals, it is a matter of time and he can be one of the greatest strikers in the Premier League.” After drawing 1-1 with Liverpool and then losing 3-1 at West Ham, Pochettino will hope Chelsea’s first home win since March kick-starts his reign.

          But it is early days for the former Tottenham and Paris Saint Germain boss, who is fielding an overhauled team with a youthful look at present.

          Pochettino was without nine first teamers due to injury, with skipper Reece James and summer signings Christopher Nkunku and Romeo Lavia among the absentees.

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          Borneo Bulletin is the leading English daily in the country. It was first published by Brunei Press. Today, Borneo Bulletin has become the foremost source of information on local and foreign affairs, and the region’s business news.

          © 2013 Borneo Bulletin Online - The Independent Newspaper in Brunei Darussalam, Sabah and Sarawak

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