United News of Bangladesh

South Korean solar manufacturer Qcells has announced temporary pay and hour reductions for around 1,000 of its 3,000 employees in Georgia, as U.S. customs authorities continue detaining imported components critical to its solar panel production. Qcells, a subsidiary of South Korea’s Hanwha Solutions, said Friday it will also lay off 300 temporary workers employed through staffing agencies at its plants in Dalton and Cartersville, northwest of Atlanta. According to the company, U.S. Customs and Border Protection (CBP) has been holding shipments of imported materials at ports over suspicions that they may contain components produced with forced labor in China. The detentions have slowed Qcells’ assembly lines and limited production capacity. The move follows an announcement by Homeland Security Secretary Kristi Noem in August, stating that enforcement of the 2021 Uyghur Forced Labor Prevention Act would be intensified. The law restricts goods linked to forced labor in China’s Xinjiang region. Reports indicate that CBP began detaining Qcells’ solar cells as early as June. Qcells, however, has denied any link to forced labor or Chinese supply chains. Company spokesperson Marta Stoepker said, “Our latest supply chain is sourced completely outside of China, and our legacy supply chains contain no material from Xinjiang province based on third-party audits and supplier guarantees.” She added that Qcells maintains “robust supply chain due diligence measures” and detailed documentation, which has helped secure the release of some shipments. “Although our supply chain operations are beginning to normalize, HR actions must be taken to improve operational efficiency until production capacity returns to normal levels,” Stoepker said in a statement. The company confirmed that affected workers will retain their full benefits during the temporary furloughs. Qcells is currently completing a $2.3 billion plant in Cartersville to produce ingots, wafers, and solar cells — key components of solar modules. Despite the rollback of most federal tax credits for solar panel purchases under the Trump administration earlier this year, Qcells said construction of the facility will continue. “Our commitment to building the entire solar supply chain in the United States remains strong,” Stoepker said. “We will soon be back on track, with our Georgia team delivering American-made clean energy to communities nationwide.”   Source: AP

U.S. airlines canceled more than 2,500 flights over the weekend as the Federal Aviation Administration (FAA) continued to scale back air traffic operations amid the ongoing government shutdown, officials said Saturday. The agency’s reduced capacity order — aimed at coping with unpaid and overworked air traffic controllers — has begun to disrupt some of the country’s busiest airports, deepening the fallout from what has become the nation’s longest federal shutdown. “We all travel. We all have somewhere to be,” said Emmy Holguin, 36, waiting for a Miami-to-Dominican Republic flight. “I’m hoping the government can take care of this.” Analysts warn that if cancellations keep growing into Thanksgiving week, the disruptions could ripple far beyond air travel, squeezing tourism, supply chains, and holiday shipping. Cancellations surge as staffing thins Flight-tracking site FlightAware reported more than 1,500 cancellations Saturday, following over 1,000 on Friday, with another 1,000-plus flights already canceled for Sunday. Major airports in Atlanta, Chicago, Charlotte, and Newark were hit hardest, with delays spreading along the East Coast due to radar and tower staffing shortages. Drone sighting briefly halts flights at Berlin airport The FAA said the current flight reductions affect about 4% of commercial operations across 40 airports — a figure expected to rise to 10% by Friday if the shutdown drags on. Transportation Secretary Sean Duffy warned that deeper cuts could follow. Controllers working without pay Many controllers have gone without pay for nearly a month, forcing some to call in sick or take second jobs. Others are working mandatory six-day weeks with no pay, according to the National Air Traffic Controllers Association (NATCA). On Saturday, the union said it delivered 1,600 handwritten letters to Congress urging lawmakers to end the shutdown. Travelers stranded and frustrated Although most passengers have been able to rebook, uncertainty remains about future cancellations. “Travel is stressful enough. Then you put these disruptions in place, and it really makes everything more challenging,” said Heather Xu, 46, flying home to Puerto Rico after a cruise. Some travelers canceled plans altogether. Diana Alvear of New Jersey said her family scrapped their trip to California over safety and disruption concerns. While United Airlines refunded the airfare, she said they lost a $700 Airbnb deposit. “This has been costly and disappointing,” Alvear said. “It’s really weighing on our hearts.” Economic ripple effects Experts warned that disruptions could soon hit consumers’ wallets. Nearly half of U.S. air freight travels in passenger plane cargo holds, meaning flight cuts could push up shipping costs and retail prices. Pakistan’s PIA resumes UK flights after five-year ban “This shutdown will impact everything — from business travel to tourism to local tax revenue,” said Greg Raiff, CEO of Elevate Aviation Group. “It’s a cascading effect.” Patrick Penfield, a supply chain professor at Syracuse University, said the longer the shutdown lasts, “the more likely we are to see the economic pain extend beyond airports and into everyday life.” Source: AP

Fourteen people have been confirmed dead following the crash of a UPS cargo plane in Louisville, Kentucky, with no one believed to be still missing, Mayor Craig Greenberg said Saturday. Greenberg wrote on X that the 13 victims recovered from the crash site matched the number of missing persons reported to police. “We believe the total number of victims will be 14,” he said, noting that one person had died Friday while being treated in a hospital. The Jefferson County coroner is working to identify the victims and will release their names once confirmed, the mayor added. The crash occurred Tuesday at UPS Worldport, killing the three pilots aboard the MD-11 aircraft bound for Honolulu. The plane caught fire after an engine separated during takeoff, crashing into nearby businesses and igniting a massive blaze. Following the accident, the Federal Aviation Administration (FAA) on Saturday ordered all McDonnell Douglas MD-11 planes to be grounded pending inspections. UPS and FedEx had already announced similar precautionary moves on Friday. MD-11 aircraft currently make up about 9% of the UPS fleet and 4% of the FedEx fleet, according to company data. Source: AP 

China’s exports fell by 1.1% year-on-year in October, weighed down by a sharp 25% decline in shipments to the United States, according to government data released Friday. Although trade tensions between Washington and Beijing have recently eased following an agreement between President Donald Trump and Chinese President Xi Jinping to de-escalate the ongoing trade war, the slowdown continues to dampen global demand. Customs figures show that October’s decline was the weakest performance since February, following an 8.3% surge in September. Imports, meanwhile, grew 1% from a year earlier, far below September’s 7.4% increase. Shipments to the US have now fallen by double digits for seven consecutive months, as China seeks to expand its export markets in Southeast Asia and Africa. Analysts noted that last month’s downturn was also influenced by a high base from October 2024, when exports had jumped 12.6%, the fastest growth in over two years. Economists said China’s struggling property sector and weak domestic spending remain significant drags on growth. Japan resumes seafood exports to China after 2 years During their late October meeting in South Korea, Trump and Xi agreed to roll back some tariffs and delay new port fees, while China suspended export curbs on rare earths for one year and pledged to buy more US agricultural products. In response, Washington eased some sanctions on Chinese firms. Goldman Sachs economists forecast that Chinese export volumes could grow 5%–6% annually, helping boost the country’s global trade position. Capital Economics analysts Leah Fahy and Zichun Huang said the partial tariff cuts might slightly lift exports later this year, though the real effects would likely appear in early 2026. BNP Paribas’s Wei Li predicted that any meaningful rebound in exports to the US would begin in the first quarter of next year and accelerate in the second. Speaking at the China International Import Expo in Shanghai this week, Premier Li Qiang reaffirmed China’s commitment to “free markets and free trade,” while criticizing protectionist policies that harm developing economies. Source: AP

Japan announced Friday that its seafood exports have resumed for the first time since China imposed a ban over the discharge of treated radioactive wastewater from the tsunami-hit Fukushima Daiichi nuclear power plant more than two years ago. Chief Cabinet Secretary Minoru Kihara told reporters that 6 metric tons (6.6 tons) of scallops harvested in Hokkaido were shipped to China on Wednesday, the first shipment to that country since Beijing banned Japanese seafood in August 2023. Beijing announced in June that it would ease the ban and prepare for the resumption of imports, following repeated negotiations between the two sides. The ban was a major blow to Japan's seafood industry, especially scallop and seafood cucumber exports. China was the biggest overseas market for Japanese seafood. “The government takes the development as a positive move,” Kihara said as he called on China to continue to re-register pending applications for Japanese seafood exporters. A ban remains in place for seafood from Fukushima and nine nearby prefectures, which China imposed immediately after the plant's meltdowns. Kihara said Japan will also continue to urge Beijing to lift the remaining bans and resume importing Japanese beef. The Fukushima Daiichi plant suffered triple meltdowns following a massive earthquake and tsunami in 2011, causing leaks of massive radioactive wastewater that need to be stored in tanks. The utility won Japanese government approval and support from the International Atomic Energy Agency for the gradual release of the water into the sea after treatment and dilution. Japanese officials said the wastewater would be much safer than international standards and the IAEA comprehensive report later confirmed that the discharges meet international safety standards..

Struggling Japanese automaker Nissan announced Thursday that it will sell its headquarters building in Yokohama, southwest of Tokyo, for 97 billion yen ($630 million) as part of efforts to strengthen its finances and accelerate modernization. Under the deal, Nissan will lease back the building and continue to use it as its headquarters, while recording 73.9 billion yen ($480 million) in gains from the sale to Tokyo-based real estate operator MJI Godo Kaisha, the company said in a statement. The proceeds will be used to upgrade internal systems at its headquarters, including the implementation of AI-driven operations and digital modernization across various departments, Nissan said. The automaker produces models including the March subcompact and Infiniti luxury cars. MJI Godo is a special purpose trust owned by the Hong Kong-listed Minth Group, a major auto parts manufacturer. The terms of the lease were not disclosed. Nissan, which is set to release its first-half financial results later Thursday, has been struggling to return to profitability, posting a 670.9 billion yen ($4.4 billion) loss for the fiscal year ending in March. The company has pledged a turnaround under new CEO Ivan Espinosa, a Mexican executive with two decades of experience at Nissan who assumed the role earlier this year. “This move reflects a disciplined approach to capital efficiency, unlocking value from non-core assets to support transformation during challenging times,” Nissan said, adding that the strategy is part of its broader efforts to innovate, stay competitive, and invest in future growth. As part of its restructuring, Nissan is cutting about 15% of its global workforce, roughly 20,000 jobs, and closing its flagship Oppama factory in Japan.   Source: AP

DoorDash reported stronger-than-expected orders and revenue for the third quarter but cautioned investors that spending will rise sharply next year as it ramps up product development. Shares of the San Francisco-based food delivery giant tumbled in after-hours trading Wednesday after the company warned of higher expenses ahead. DoorDash said total orders grew 21% year-over-year to 776 million in the July–September quarter, surpassing Wall Street’s forecast of 770 million, according to FactSet data. Revenue climbed 27% to $3.45 billion, also beating expectations of $3.35 billion. The company attributed the strong results to an increase in monthly active users and DashPass subscribers, along with growing delivery demand in new areas such as home improvement and beauty products. However, the company acknowledged that its growth is being accompanied by mounting costs. Research and development expenses rose 23% to $355 million during the quarter — the highest level in its history. DoorDash said it has more new products under development than ever before. In recent months, the company has expanded its offerings, including adding restaurant reservations to its app and unveiling “Dot,” an autonomous delivery robot that will soon begin operating in the Phoenix area. It is also developing a mapping platform and a “smart scale” to help retailers detect missing items before delivery. Abu Dhabi hosts oil summit as OPEC+ pauses early 2026 output hikes Despite solid sales, profits fell short of expectations. Net income rose 51% to $244 million, or 55 cents per share — below analysts’ projection of 68 cents. DoorDash said it expects investments to accelerate in 2026, with spending on new initiatives set to rise by several hundred million dollars compared to 2025. CEO Tony Xu told investors the short-term costs would pave the way for greater efficiency, saying the company is working to unify its technology platform across DoorDash and its newly acquired delivery services, Wolt and Deliveroo. Source: AP

Asian stocks plunged on Wednesday after a sharp sell-off in Big Tech shares pulled Wall Street lower overnight, with Tokyo’s benchmark Nikkei 225 tumbling more than 4%. By midday, the Nikkei had dropped 4.7% to 49,104.05, weighed down by heavy losses in chip-related stocks. Shares of Tokyo Electron fell 6.1%, while semiconductor testing equipment maker Advantest Corp. slumped 10%. South Korea’s Kospi also fell sharply, losing 3.7% to 3,977.24 as major tech firms tracked global declines. Samsung Electronics dropped 4.4%, and SK Hynix lost 2.7%, despite its recent gains tied to artificial intelligence collaboration with Nvidia. Chinese markets saw milder losses, with the Shanghai Composite down 0.3% to 3,946.78 and Hong Kong’s Hang Seng slipping 1.1% to 25,656.90. The slump followed steep declines in technology shares on Wall Street, where the sector’s outsized weight has amplified market swings. Palantir Technologies fell 7.9% despite better-than-expected earnings, Nvidia dropped 4%, and Microsoft slipped 0.5%. The S&P 500 fell 1.2% to 6,771.55, the Dow Jones Industrial Average dropped 0.5% to 47,085.24, and the tech-heavy Nasdaq sank 2% to 23,348.64. Abu Dhabi hosts oil summit as OPEC+ pauses early 2026 output hikes Investors remain focused on corporate earnings amid a U.S. government shutdown that has halted key economic reports on inflation and jobs. Analysts say the data gap complicates the Federal Reserve’s decision-making on interest rates as inflation remains elevated at 3% while hiring slows. Outside earnings, Tesla fell 5.1% after Norway’s sovereign wealth fund said it would oppose CEO Elon Musk’s proposed $1 trillion compensation package. Yum Brands jumped 7.3% on reports it may sell its struggling Pizza Hut unit. Oil prices weakened, with U.S. benchmark crude down 31 cents to $60.25 a barrel and Brent crude slipping 28 cents to $64.16. The dollar eased to 153.33 yen, while the euro edged up to $1.1493. Source: AP 

Abu Dhabi hosted a major oil summit Monday, shortly after OPEC+ announced it would halt planned production increases for the first quarter of 2026, citing concerns over oversupply in the market. The decision follows recent oil sanctions imposed by the United States and the United Kingdom on Russia over the Ukraine war. Targets included Rosneft and Lukoil, whose logo prominently appeared at the Abu Dhabi International Petroleum Exhibition and Conference, a key sponsor of the event. Despite the war, the UAE has maintained strong ties with Russia and has acted as an intermediary between Kyiv and Moscow in prisoner exchange negotiations. OPEC+ had met Sunday and agreed to boost production by 137,000 barrels per day starting December but said adjustments planned for January through March would be paused “due to seasonality.” The group includes core OPEC members and allied nations, notably Russia. Benchmark Brent crude traded around $65 per barrel Monday, down from a post-COVID peak of about $115 after Russia’s 2022 invasion of Ukraine. Prices recently slipped to $60 amid concerns of excessive supply. “Yes, OPEC+ is blinking, but it’s a calculated move,” said Jorge León, head of geopolitical analysis at Rystad Energy. “Sanctions on Russian producers have added uncertainty to supply forecasts. Pausing production protects prices, signals unity, and buys time to gauge the impact of sanctions on Russian barrels.” OPEC+ extends output cuts to support oil prices Meanwhile, the U.S. administration continues to advocate for increased domestic production. Interior Secretary Doug Burgum, former governor of North Dakota and chair of Trump’s National Energy Dominance Council, attended the summit. The average U.S. gasoline price stood at $3.03 per gallon Monday. The ADIPEC oil conference follows last year’s COP28 climate talks in the UAE, where nearly 200 countries pledged to reduce reliance on fossil fuels. Nevertheless, the UAE plans to raise its oil production capacity to five million barrels per day while expanding clean energy initiatives domestically. Source: AP

France’s consumer watchdog has reported fast-fashion giant Shein to authorities for selling “sex dolls with a childlike appearance” on its website. The Directorate General for Competition, Consumer Affairs and Fraud Control (DGCCRF) said the dolls’ online descriptions and categorisation “strongly suggest content of a child pornography nature.” Responding to the allegations, Shein told the BBC that “the products in question were immediately removed once we became aware of these serious issues.” The company added that its team is “investigating how these listings bypassed our screening measures” and is conducting “a comprehensive review to identify and remove any similar items listed by other third-party vendors.” According to French media, the DGCCRF has referred the matter to French prosecutors and Arcom, the nation’s online and broadcasting regulator. The report comes just days before Shein is scheduled to open its first permanent physical store anywhere in the world, located in a Parisian department store. Source: BBC