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Canadian jailed on spying charges linked to Chinese tech giant

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Canadian man, Michael Spavor has been jailed by a Chinese court on spying charges in case linked to Huawei

FILE – In this file image made from a March 2, 2017, video, Michael Spavor, director of Paektu Cultural Exchange, talks during a Skype interview in Yanji, China. The Canadian entrepreneur who was charged with spying after his government arrested an executive of Chinese tech giant Huawei faces a possible verdict Wednesday, Aug. 11, 2021 as Beijing steps up pressure on Canada ahead of a court ruling on whether to hand over the executive to face U.S. criminal charges. (AP Photo/File)

The court found the Canadian businessman guilty on spying charges. He will spend 11 years behind bars.

He was detained in 2018 in an apparent retaliation for Canada’s arrest of a Huawei executive on a US extradition warrant.

Canadian diplomats were barred from entering the trial earlier this year.

Canada’s Ambassador to China was at the Dan-dong Detention Centre as the verdict was handed down.

Canada has said the detentions are linked to Meng’s case, which China has denied.

The verdict comes with Meng’s case due to conclude on August 20.

Yesterday, former US President Donald Trump allegedly asked for a “ransom” for the release of former Huawei executive, Meng Wanzhou

It comes as Meng Wanzhou’s head lawyer summarised the alleged abuses encountered by the executive throughout an extradition case that started almost 3 years ago.

The lawyer says the whole case was “anti-ethical to Canadian values” and rule of law… and Trump’s abuse of power throughout the entire matter was so bad, the case should be scrapped altogether.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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Money

Tech giants drive global mega-cap surge amid inflation relief

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Tech giants have taken the lead in propelling global mega-cap stocks to new heights.

This surge comes as a welcome relief for investors who have been closely monitoring the impact of rising inflation on the financial markets.

The tech sector, including giants like Apple, Amazon, and Microsoft, has been instrumental in driving the rally. These companies have reported robust earnings and strong growth prospects, which has boosted investor confidence. As a result, the market capitalization of these tech behemoths has reached unprecedented levels, contributing significantly to the overall rise in global mega-cap stocks.

The easing of inflationary pressures has played a pivotal role in this resurgence. Central banks’ efforts to tame inflation through monetary policy adjustments have begun to bear fruit, reassuring investors and stabilizing financial markets. As concerns over rapidly increasing prices recede, investors have become more willing to invest in mega-cap stocks, particularly in the tech sector, which has demonstrated resilience in the face of economic challenges.

Will the tech giants maintain their momentum and continue to lead the mega-cap surge, or are there potential risks on the horizon?

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Money

Real reason bosses want employers back in the office

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As the world gradually recovers from the pandemic, employers are increasingly pushing for their staff to return to the office after years of remote work.

 
The driving force behind this push is the sharp decline in commercial property values, which has left many businesses concerned about their real estate investments.

Commercial property values have plunged in the wake of the pandemic, with many companies downsizing or reconsidering their office space needs.

This has put pressure on employers to reevaluate their remote work policies and encourage employees to return to the office. #featured

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Businesses cash in on Black Friday sales

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Black Friday, the annual shopping frenzy, has become a global phenomenon rooted in economic strategies.

 
Retailers deploy various tactics to lure consumers, creating a win-win scenario for both shoppers and businesses.

The concept of Black Friday traces its roots to the United States, where it marks the beginning of the holiday shopping season. Retailers offer significant discounts on a wide range of products to attract a massive customer influx. This strategy, known as loss leader pricing, involves selling a few products at a loss to entice customers into stores, hoping they will buy other items at regular prices.

Retailers also employ the scarcity principle by advertising limited-time offers and doorbuster deals. This sense of urgency compels consumers to make quick decisions, boosting sales.

Furthermore, online shopping has revolutionized Black Friday economics. E-commerce giants use data analytics to customize deals, targeting individual preferences. Cyber Monday, the digital counterpart to Black Friday, capitalizes on the convenience of online shopping. #featured

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