Latest news with #NZZ
Yahoo
04-07-2025
- Business
- Yahoo
Zurich Film Festival Embarks on New Era With Director-Led Buyout
The Zurich Film Festival (ZFF) is set to enter a new chapter following a management buyout of festival owners the NZZ group, led by Zurich festival director Christian Jungen. The buyout, unveiled on Thursday, ends a decade-long partnership between the festival and the Swiss media group. Jungen is joined in the buyout by festival vice director Reta Guetg, Swiss entrepreneur and TV host Max Loong, long-time ZFF President Felix E. Müller, and finance expert Marek Skreta. The new owners plan to take the Zurich festival to the next level, elevating the event to the top tier of European film festivals. More from The Hollywood Reporter The Summer of Sarah Niles: 'F1' Star on the "Theater" of Racing and Tom Cruise's Reaction: He Was "on the Edge of His Seat" 'Squid Game' Star Yim Si-Wan on Learning to "Love the Hate" Fans Feel for His Character Bob Vylan Dropped From Europe Music Festivals in Wake of "Death to the IDF" Controversy 'I am excited to lead the ZFF into a new era together with our current team and new owners who love cinema and know the festival inside out,' said Jungen in a statement. 'We are a Zurich-based solution that has the trust of our partners and the filmmaking community. We are thinking big and we are thinking internationally. Our goal is to position the ZFF as one of Europe's premier film events, where audiences can see the films and stars that will go on to win Oscars later in the season. We want to bring joy and a celebratory atmosphere to the city and host a festival that Zurich can be proud of. To achieve this, we will secure new private partners and expand support from foundations, donors, and public institutions.' NZZ, which acquired the Zurich film festival ten years ago, will remain a key partner for the next three years, the new owners said. NZZ CEO Felix Graf described the move as a step toward further professionalization while preserving the festival's existing framework. The new leadership team combines deep festival experience with international business acumen. Jungen has overseen the ZFF's artistic direction since 2019, after spending a decade as a journalist at NZZ. Guetg, who has led industry and programming at ZFF for ten years, brings strong ties to the international film community. Müller, also editor-in-chief of NZZ am Sonntag, authored a book on the ZFF's history and is a central figure in Swiss cultural life. Loong and Skreta add expertise in sponsorship, hospitality, and global festival strategy, with Skreta having ties to the Karlovy Vary International Film Festival. The ZFF, which drew 140,000 visitors last year, will stage its 21st edition Sept. 25-Oct. 5. Best of The Hollywood Reporter The 40 Best Films About the Immigrant Experience Wes Anderson's Movies Ranked From Worst to Best 13 of Tom Cruise's Most Jaw-Dropping Stunts
Yahoo
31-05-2025
- Business
- Yahoo
Exposé sheds light on shocking truth behind popular fashion brand's operations: 'We have no choice'
Workers making ultracheap Shein clothing in Guangzhou, China, face grueling 14-hour shifts with just one day off per month, despite earning fair wages compared to local standards, reported NZZ. In an area nicknamed "Shein Village" on the outskirts of Guangzhou, over a thousand factories operate almost exclusively for the popular online retailer. Workers earn about 8,000 yuan ($1,100) monthly — three times the local minimum wage — but must work more than twice the legally permitted hours to meet production quotas. "We have no choice," said Liu, a 42-year-old worker who irons clothing and stands for more than 10 hours daily. "What should my family eat and drink?" Chinese authorities are aware of these labor violations but ignore them to preserve jobs in an economy facing rising unemployment. Han Dongfang, who heads the Hong Kong-based China Labor Bulletin, fights for workers' rights but faces resistance from officials who prioritize economic activity over regulations. The working conditions in Shein factories reflect the fast-fashion business model's faults. Shein's "small batches, quick turnaround" strategy puts immense pressure on suppliers to deliver rapidly when designs sell well. This approach lets the company keep inventory costs low and pass savings to customers through rock-bottom prices. When you buy a $7 top or $12 jeans from Shein, that affordability comes at a human cost. While workers receive decent pay by local standards, they sacrifice their health and family time to keep up with production demands. This model also creates massive textile waste. Fast-fashion companies design clothing to deteriorate quickly, sending garments to landfills after just a few wears. The industry's focus on constantly changing styles and low-quality materials means millions of tons of textiles are wasted each year. The environmental impact is more than waste. Textile production requires significant water usage and often involves harmful chemicals that pollute local water sources when factories don't properly treat wastewater. You can make choices that support workers and the planet. Consider buying fewer but higher-quality garments that last longer. This approach might cost more upfront but saves money over time as pieces don't need frequent replacement. Which of these factors would most effectively motivate you to recycle old clothes and electronics? Giving me money back Letting me trade for new stuff Making it as easy as possible Keeping my stuff out of landfills Click your choice to see results and speak your mind. Thrifting offers another great solution with substantial financial benefits. You can find unique items at a small fraction of retail prices while giving clothing another life and keeping it out of pollution-spewing landfills. Some companies are now embracing more sustainable practices. Brands that openly share information about their supply chains and worker conditions give you the power to make informed choices about where your money goes. Supporting policies that require fashion companies to implement fair labor practices and environmental standards can drive industry-wide change. Your purchasing decisions send a powerful message about the kind of fashion industry you want to support. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
DW
23-05-2025
- Business
- DW
Child Labor Powering Green Tech – DW – 05/23/2025
Almost 75% of global production comes from the Democratic Republic of Congo - where there are also children toiling away in the mines. Image: NZZ Format Cobalt is a component in batteries for cell phones, EVs and e-bikes, but it's also used in medical technologies and aircraft construction. Around three-quarters of the world's supply of this coveted metal currently comes from the DRC in Central Africa. Kolwezi is known as the country's cobalt capital. Industrial mines, like those operated by Swiss multinational Glencore and Chinese firms, are found here alongside illegal sites where hundreds of thousands of people hack the metal out of the ground with their bare hands. Image: NZZ Format Human rights organizations like Amnesty International and Save the Children estimate that tens of thousands of minors work in these illegal cobalt mines. In protest, activists have repeatedly called for a boycott on cobalt from the DRC. To what extent is child labor a factor in cobalt production today, and what can consumers do to combat it? What about corporate responsibility? Are companies doing enough to ensure the cobalt they're using hasn't been mined by a child? Broadcasting Hours: DW English MON 26.05.2025 – 18:30 UTC MON 26.05.2025 – 23:30 UTC TUE 27.05.2025 – 03:30 UTC TUE 27.05.2025 – 09:15 UTC TUE 27.05.2025 – 12:15 UTC TUE 27.05.2025 – 16:15 UTC TUE 27.05.2025 – 21:15 UTC WED 28.05.2025 – 07:30 UTC WED 28.05.2025 – 10:30 UTC WED 28.05.2025 – 17:30 UTC Lagos UTC +1 | Cape Town UTC +2 | Nairobi UTC +3 Delhi UTC +5,5 | Bangkok UTC +7 | Hong Kong UTC +8 London UTC +1 | Berlin UTC +2 | Moscow UTC +3 San Francisco UTC -7 | Edmonton UTC -6 | New York UTC -4
Yahoo
15-05-2025
- Business
- Yahoo
Trump drug price plan could nix investment, warns Roche
President Donald Trump's plans to dramatically slash drug prices for Americans could make Swiss pharmaceutical giant Roche cancel major investments in the United States, it said Wednesday. Trump signed an executive order Monday aimed at bringing down the notoriously high prescription drug prices paid by US consumers, news that rattled pharmaceutical companies. Swiss newspaper NZZ reported Trump's move could lead Roche to reassess plans it announced just last month to invest $50 billion in the United States over five years. Roche, the world leader in cancer treatments, said in a statement it did not expect Trump's new drugs policy to hurt its business in 2025. "However, should the proposed EO (executive order) go into effect, Roche's ability to fund the significant investments previously announced in the US will be in question," it said. Trump has been pushing foreign firms to invest more in the United States, saying the way to avoid his tariff assault on foreign-made goods is to produce them on US soil instead. Prescription drugs were not targeted in Trump's "Liberation Day" tariff announcements. Still, Roche appeared to take heed with its April investment announcement, which came just after fellow Swiss rival Novartis said it would increase investment in the United States by $23 billion over five years. The United States is a key market for Roche, accounting for more than half its pharmaceutical division's revenues. Roche's US subsidiary Genentech announced a $700-million project Monday to build a new plant in North Carolina, which it says would employ 400 people. noo/jhb/jj Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Iraqi News
15-05-2025
- Business
- Iraqi News
Trump drug price plan could nix investment, warns Roche
Zurich – President Donald Trump's plans to dramatically slash drug prices for Americans could make Swiss pharmaceutical giant Roche cancel major investments in the United States, it said Wednesday. Trump signed an executive order Monday aimed at bringing down the notoriously high prescription drug prices paid by US consumers, news that rattled pharmaceutical companies. Swiss newspaper NZZ reported Trump's move could lead Roche to reassess plans it announced just last month to invest $50 billion in the United States over five years. Roche, the world leader in cancer treatments, said in a statement it did not expect Trump's new drugs policy to hurt its business in 2025. 'However, should the proposed EO (executive order) go into effect, Roche's ability to fund the significant investments previously announced in the US will be in question,' it said. Trump has been pushing foreign firms to invest more in the United States, saying the way to avoid his tariff assault on foreign-made goods is to produce them on US soil instead. Prescription drugs were not targeted in Trump's 'Liberation Day' tariff announcements. Still, Roche appeared to take heed with its April investment announcement, which came just after fellow Swiss rival Novartis said it would increase investment in the United States by $23 billion over five years. The United States is a key market for Roche, accounting for more than half its pharmaceutical division's revenues. Roche's US subsidiary Genentech announced a $700-million project Monday to build a new plant in North Carolina, which it says would employ 400 people.
