Afternoon Coffee: Tech Companies Linked to Child Labor, IEA Says World is ‘Drowning’ in OIl

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Apple, Microsoft, Samsung and Sony are facing scrutiny after a report by Amnesty International has linked the tech companies to child labor. The report said the companies are using minerals extracted by children under dangerous conditions in the Democratic Republic of Congo.

The International Energy Agency said the world is “drowning” in oil. In its monthly oil market report, the IEA said 2016 will be another year supply will significantly exceed demand, especially as Iran plans to increase production by as much as 1.5 million barrels a day by the end of the year.

Malaysian state-owned oil and gas company Petronas will cut $11.4 billion from spending plans over the next four years. The move is a result of low oil prices. The organization’s structure and non-core contract jobs will be impacted, Petronas announced today.

DHL Supply Chain is investing $160 million to expand operations in Mexico between now and 2020. The company currently has 80 warehouses in Mexico, which are mainly focused on the automotive sector.

 

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