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And when the markets in Europe closed a couple of hours ago, London’s FTSE 100 was down 28 points. The Dax and Euro were also down. In the US, trading comes to a close shortly. The Dow Jones is down. The S&P 500 is down by seven points.
And the Australian dollar is worth 91.37 US dollars this morning. It’ll also buy you just over 60 British pence and nearly 118 New Zealand cents.
The US has cut trade privileges to Bangladesh over dangerous conditions faced by workers in the textile industry. Bangladesh’s government has called the move shocking. The decision comes after a year-long review of labor1 practices and workplace safety in Bangladesh. The US says that country is not taking steps to afford nationally-recognized rights to its workers. The move comes in the wake of a deadly building collapse2 in the Bangladesh capital that killed over 1,000 people.
Mining giant BHP Billiton has announced it will run a tight iron ore business in Australia in response to a slowdown in global demand. BHP’s iron ore president has told business leaders in Perth that the company is facing a cooling market and is looking to improve its efficiency. BHP has not yet made cuts to its iron ore workforce3, instead, maintaining a freezone hiring any new staff. The mining giant will cease spending on additional equipment, instead, focusing on increasing production, using existing machinery4.
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1 labor | |
n.劳动,努力,工作,劳工;分娩;vi.劳动,努力,苦干;vt.详细分析;麻烦 | |
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2 collapse | |
vi.累倒;昏倒;倒塌;塌陷 | |
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3 workforce | |
n.劳动大军,劳动力 | |
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4 machinery | |
n.(总称)机械,机器;机构 | |
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