Apple Loses It's Shine Over Slave Labour Accusation

Apple may be one of the most popular brands on the planet, as well as the world's most profitable technology firm, but the company's reputation has been tarnished in recent months with reports of poor working conditions and worker suicides at Foxconn, the Chinese plant where numerous components of Apple products are produced.

Since the beginning of the year, 12 of the 400,000 Foxconn employees have killed themselves and at least four more workers have attempted to commit suicide. Another 20 employees are said to have been stopped by the company before they had they had the chance to take their lives.

Despite such alarming numbers, Apple chief executive Steve Jobs said to delegates at the D8 technology conference in California, that while the situation is "troubling", the rate of suicides was lower than the overall suicide rate for the United States and denied claims that workers at the Foxconn plant are being mistreated.

"[Foxconn have] had some suicides and attempted suicides. They have 400,000 people there. The rate is under what the US rate is, but it's still troubling," Jobs said.

"We look at everything at these companies, and I can tell you a few things that we know: Foxconn is not a sweatshop" he added. "It's a factory, but, my gosh, they have restaurants and movie theatres and hospitals and swimming pools. For a factory it's pretty nice."
Foxconn manufactures products for Dell and Hewlett Packard as well as Apple. All of these companies say that they are now investigating the plant.

Around the world in 80 days

Our guide to the last quarter's global events - and their impact on your business.

Mineral rich

A team from the Pentagon have placed estimates of Afghanistan's mineral wealth at around $1 trillion. The announcement has helped reawaken resolve to fight for the country, in order to tap into its reserves of vital minerals.

BMUS impact rating: ***

Blowing away

China has boosted its production of wind turbines so as to reclaim the country's wind energy market from foreign companies, including General Electric. Investors, such as Siemens are responding by offering newer technology to the Chinese market.

BMUS impact rating: ****

On the move

Despite signs of recovery of the US car market, major manufacturers are planning to shift production to Mexico to cut costs. This news comes a year after more than $80 billion was spent on propping up General Motors and Chrysler in order to save American jobs.

BMUS impact rating: ****

G20

Leaders met in Toronto in June to address issues including global economy. They agree that banks need significantly higher capital reserves in order to avoid another financial crisis, which supports the proposed changes that feature in the regulatory reform legislation.

BMUS impact rating: *****

Job cuts

According to a government report, private employers significantly reduced job creation in May this year. The private sector saw only 41,000 new jobs creates, drastically lower than the 218,000 that were available in April. Wall Street viewed the figures as a possible indicator that economic recovery has come to a stand still.

BMUS impact rating: ****

Russia speaks out

Russia has rejected allegations of a spy ring run in US after 10 people were arrested on charges of consipiracy to act as unlawful agents of a foreign government. Renewed tensions between the US and Russia come just days after President Obama and President Dmitry Medvedev publicly enjoyed a burger on Medvedev's visit to the White House.

BMUS impact rating: ***