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A Qantas plane takes off from Kingsford Smith International Airport, following the coronavirus outbreak, in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott Acquire Licensing RightsCompanies Qantas Airways Ltd FollowSYDNEY, Oct 18 (Reuters) - Australia will ask its competition watchdog to monitor domestic passenger flights in a bid to boost competition in a sector dominated by national carrier Qantas, which is under scrutiny for alleged anti-competitive behaviour. The Australian Competition and Consumer Commission (ACCC) will monitor prices, costs and profits in the domestic air passenger sector, according to a joint statement from Treasurer Jim Chalmers and Transport Minister Catherine King on Wednesday. "A competitive airline industry helps to put downward pressure on prices and deliver more choice for Australians facing cost-of-living pressures," the statement said. "ACCC market scrutiny will help ensure airlines compete on their merits, bring to light any inappropriate market conduct should it occur, and provide continued transparency at a time when new and expanding airlines are still trying to establish themselves."
Persons: Loren Elliott, Jim Chalmers, Catherine King, Alan Joyce, Lewis Jackson, Muralikumar Organizations: Qantas, Kingsford Smith International, REUTERS, Rights Companies Qantas Airways Ltd, SYDNEY, Australian Competition, Consumer Commission, Transport, Qatar Airways, Thomson Locations: Sydney, Australia
Apple CEO Tim Cook gestures at Apple's annual Worldwide Developers Conference at the company's headquarters in Cupertino, California, U.S. June 5, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsBEIJING, Oct 18 (Reuters) - China's commerce minister Wang Wentao met with Apple's Chief Executive Tim Cook in Beijing on Wednesday, according to a statement by the Chinese commerce ministry. They discussed Apple's development in China and also the Sino-US trade relationship, the statement said. China will firmly promote high-level opening up and continue to expand market access, the ministry statement quoted Wang as saying, adding that China welcomes multinational companies including Apple to achieve win-win development. Reporting by Beijing newsroom; Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.
Persons: Tim Cook, Loren Elliott, Wang Wentao, Wang, Alexandra Hudson Organizations: Apple, Developers, REUTERS, Rights, Apple's, Beijing, Alexandra Hudson Our, Thomson Locations: Cupertino , California, U.S, Rights BEIJING, Beijing, China
More than 4 million people have already cast their ballot after early voting began on Oct. 2. "Our final poll indicates a sweeping ‘No’ victory – with nearing six in 10 voters intending to cast a ‘No’ vote," said Amir Daftari, YouGov Director of Polling and Academic research. Support for the referendum, the first since voters rejected a 1999 proposal to become a republic, has ebbed over the past few months. Supporters argue the Voice will bring progress for Indigenous Australians, while some opponents say enshrining one group in the constitution would be divisive. Referendums are difficult to pass in Australia, with only eight referendums being approved since it became a country in 1901.
Persons: Rita Wright, Loren Elliott, YouGov, Yougov, Amir Daftari, , Praveen Menon, Stephen Coates Organizations: Australian, REUTERS, Rights, Aboriginal, Indigenous, Thomson Locations: Sydney, Australia, Torres
More than 4 million people have already cast their ballot after early voting began on Oct. 2. With less than two days to go before voting day on Oct. 14, those opposed to the proposal lead the 'Yes' camp by 56% to 38%, according to the final poll by YouGov published on Thursday. "Our final poll indicates a sweeping ‘No’ victory – with nearing six in 10 voters intending to cast a ‘No’ vote," said Amir Daftari, YouGov Director of Polling and Academic research. Support for the referendum, the first since voters rejected a 1999 proposal to become a republic, has ebbed over the past few months. Supporters argue the Voice will bring progress for Indigenous Australians, while some opponents say enshrining one group in the constitution would be divisive.
Persons: Rita Wright, Loren Elliott, YouGov, Yougov, Amir Daftari, , Praveen Menon, Stephen Coates Organizations: Australian, REUTERS, Rights, Aboriginal, Indigenous, Thomson Locations: Sydney, Australia, Torres
[1/2] Tennis - Australian Open - Melbourne Park, Melbourne, Australia - January 18, 2023 Spain's Rafael Nadal in action during his second round match against Mackenzie Mcdonald of the U.S. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsOct 11 (Reuters) - Rafa Nadal will play at the Australian Open in January, tournament director Craig Tiley said on Wednesday, as the 37-year-old former world number one returns to the sport after undergoing hip surgery earlier this year. The Spaniard, who has won 22 Grand Slam titles, has been out of action since January after hurting his hip flexor in a second-round defeat at the Australian Open. He underwent surgery on a hip muscle in June and was expected to be sidelined for about five months. Tiley also said Australian Nick Kyrgios could return at the Melbourne Park Grand Slam after he underwent knee surgery in January and suffered wrist and foot issues in an injury-plagued 2023. Nadal has won the Australian Open twice, with his last victory coming in 2022 when he beat Russia's Daniil Medvedev and became the first man in the Open era to come back from two sets down in the final to win.
Persons: Spain's Rafael Nadal, Mackenzie Mcdonald, Loren Elliott, Rafa Nadal, Craig Tiley, Rafa, Tiley, He's, Nick Kyrgios, Nick's, Nadal, Novak Djokovic, Russia's Daniil Medvedev, Rohith Nair, Peter Rutherford Organizations: Melbourne, U.S, REUTERS, The, Thomson Locations: Melbourne, Australia, Bengaluru
Australia's Westpac fails to sell pacific banking business
  + stars: | 2023-10-04 | by ( ) www.reuters.com   time to read: +1 min
A woman exits the ground floor of an office building with Westpac logo amidst the easing of the coronavirus disease (COVID-19) restrictions in the Central Business District of Sydney, Australia, June 3, 2020. "Any failure to successfully divest businesses means that we may have sustained exposure to higher operating costs and to the higher inherent risks in those businesses," Westpac had told the market during its interim results in May. The bank would be starting a new brand campaign in the months ahead in both the countries in a move to improve its standing in local markets, Anthony Miller, CEO of Westpac business and wealth division said in a statement. The company said its pacific business was continuing to see growth along with operational recovery post COVID, which presented Westpac an option to invest in the operations. ($1 = 1.5863 Australian dollars)Reporting by Rishav Chatterjee in Bengaluru; Additional Reporting by Ayushman Ojha; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.
Persons: Loren Elliott, Anthony Miller, Rishav Chatterjee, Ayushman Ojha, Rashmi Organizations: Westpac, Central Business District of, REUTERS, Kina Securities, Thomson Locations: Central Business District of Sydney, Australia, Fiji, Papua New Guinea, Bengaluru
[1/2] Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsOct 4 (Reuters) - Apple (AAPL.O) Chief Executive Officer Tim Cook made $41.5 million after taxes in his biggest share sale in two years, a U.S. securities filing showed. Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. The Apple chief owns about 3.3 million shares, valued at about $565 million, following the sale, the filing showed. A report from research firm Canalys showed North American smartphone shipments were expected to fall 12% in 2023.
Persons: Tim Cook, Loren Elliott, Cook, Chavi Mehta, Akash Sriram, Anil D'Silva Organizations: Apple, REUTERS, KeyBanc, Thomson Locations: Cupertino , California, U.S, United States, American, Bengaluru
The latest Guardian Essential poll shows the yes vote rose two points to 43% over the past fortnight, while the no vote slipped two points to 49%. Prime Minister Anthony Albanese said on Tuesday that people tended to support the referendum once they understood the details of the proposal. Unlike New Zealand or Canada, Australia has no treaty with its Indigenous people, who make up about 3.2% of its population of 26 million. Indigenous groups were marginalized by British colonial rulers and are not mentioned in Australia's 122-year-old constitution. The referendum debate has divided opinion, with supporters arguing the Voice will bring progress for the Aboriginal community, while opponents say it would be divisive.
Persons: Rita Wright, Loren Elliott, Anthony Albanese, Albanese, They're, Lewis Jackson, Tom Hogue Organizations: Australian, REUTERS, Rights, Guardian, Triple M Hobart, Nations, New, Thomson Locations: Sydney, Australia, Tasmania, New Zealand, Canada
REUTERS/Loren Elliott/File Photo/File Photo Acquire Licensing RightsSYDNEY, Sept 27 (Reuters) - The chairman of Australia's Qantas Airways (QAN.AX) on Wednesday vowed to stay in his role despite a host of scandals engulfing the airline, saying its biggest shareholders wanted leadership continuity even as its shares track a one-year low. "I've had meetings with our major shareholders two weeks ago, and they are very strongly supportive of me staying," Goyder told the hearing. "While I retain the confidence of shareholders and the board, I will continue to serve. But she and Goyder, the Qantas chairman since 2018, denied having any discussions about the Qatari request with any member of the federal government. Qatar Airways' senior vice-president of global sales, Matt Raos, told the hearing the company was "surprised and shocked" its application was denied without a reason given.
Persons: Loren Elliott, Richard Goyder, I've, Goyder, we've, isn't, Vanessa Hudson, Jayne Hrdlicka, Hrdlicka, Matt Raos, Byron Kaye, Gerry Doyle Organizations: Qantas, Sydney Airport, REUTERS, Rights, Qantas Airways, Stock, Qatar Airways, Virgin, Thomson Locations: Sydney, Australia, Virgin Australia, Qatar
Three pilot groups, including pilots from aircraft charter company Network Aviation, have been negotiating with Qantas management over wage policy revisions. A spokesperson for QantasLink, an airline brand of Qantas, termed the step towards industrial action by the AFAP as "disappointing". "We have already reached in-principle agreement with the two other unions representing Network Aviation pilots, and we're continuing to negotiate in good faith to secure new agreements with our turboprop pilots." There are contingency plans in place to minimise disruptions to customers if the union proceeds with the industrial action, the spokesperson told Reuters. The AFAP also flagged the potential industrial action might impact certain charter flight operations to large mines and oil gas projects in Western Australia.
Persons: Loren Elliott, Rishav Chatterjee, Lewis Jackson, Aishwarya Nair, Rashmi Organizations: Qantas, Sydney Airport, REUTERS, Pilots, Network Aviation, Qantas Airways, Australian Federation of Air Pilots, Reuters, Network Aviation's, Thomson Locations: Sydney, Australia, Western Australia
Adding to its woes, last month the antitrust regulator sued Qantas accusing it of selling fares on thousands of already-cancelled flights in 2022. The so-called "flying kangaroo" said it would now spend A$80 million ($52 million) on "customer improvements" on top of the A$150 million previously flagged. "The group will continue to absorb these higher costs, but will monitor fuel prices in the weeks ahead and, if current levels are sustained, will look to adjust its settings," Qantas said. "Any changes would look to balance the recovery of higher costs with the importance of affordable travel in an environment where fares are already elevated." RBC Capital Markets analyst Owen Birrell said the company would likely absorb the higher fuel costs "until its target margins come under pressure and then would seek to claw back those costs through capacity cuts and higher fares.
Persons: Loren Elliott, Owen Birrell, Byron Kaye, Himanshi, Kim Coghill, Subhranshu Organizations: Qantas, Sydney Airport, REUTERS, Australia's, Qantas Airways, RBC Capital, Thomson Locations: Sydney, Australia, SYDNEY, Bengaluru
Australia's Qantas flags hit from higher fuel prices
  + stars: | 2023-09-24 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSept 25 (Reuters) - Australia's Qantas Airways (QAN.AX) said on Monday higher fuel prices were expected to drive its fuel bill higher by about A$200 million ($128.80 million) in the first half of financial year 2024. "Fuel prices have increased by around 30% since May 2023, including a 10% spike since August. This is driven by a combination of higher oil prices, higher refiner margins and a lower Australian dollar," the carrier said in a statement. The company expects a further A$50 million impact due to non-fuel-related foreign exchange changes in the first half of the current fiscal year. Qantas said the customer-improvement initiative would be funded from its profit.
Persons: Loren Elliott, Himanshi, Kim Coghill, Subhranshu Organizations: Qantas, Sydney Airport, REUTERS, Australia's Qantas Airways, Thomson Locations: Sydney, Australia, Bengaluru
Australia's "Big Four" banks - among the top seven listed companies in the country - control 75% of the country's A$2 trillion mortgage market. That euphoria is now largely over as high living costs impact borrowers' capacity to repay loans. Macquarie, an investment bank with a small retail banking operation, said banks' cost bases are likely to remain under pressure as more than 70% of their expenses related to personnel. Macquarie added that it expects banks' expenses to grow by around 1% to 7% in fiscal 2023 through to fiscal 2025, with third-biggest lender Westpac Banking Corp (WBC.AX) seen being impacted more than its peers. The regional banks will remain disadvantaged in the current environment as they will have to continue to invest to keep up, Macquarie said, estimating up to 4% higher expenses than consensus.
Persons: Loren Elliott, Macquarie, Sameer Manekar, Janane Organizations: Central Business, REUTERS, Macquarie, Westpac Banking Corp, ANZ Group Holdings, CBA, NAB, Adelaide Bank, Bank of Queensland, Thomson Locations: Sydney, Australia, Bendigo, Bengaluru
The proposal has been struggling to get majority support with recent opinion polls showing voters are will reject it. A record 97.7% of eligible Australians have enrolled to vote in the referendum, the Australian Election Commission (AEC) said in a statement late on Thursday. More than 8.4 million people, 47% of the roll, were not enrolled when the last referendum was held in 1999, the commission added. Indigenous Australians, who account for 3.8% of the population, face disadvantages including discrimination, poor health and education outcomes and high incarceration rates. Some Indigenous Australians want stronger action, including a treaty with the government.
Persons: Rita Wright, Loren Elliott, Tom Rogers, Anthony Albanese's, Albanese, we’ll, Praveen Menon, Lincoln Organizations: Australian, REUTERS, Rights, Torres Strait, Commission, Nations, Anthony Albanese's Labor, Thomson Locations: Sydney, Australia
REUTERS/Loren Elliott/file photo Acquire Licensing RightsSYDNEY, Sept 21 (Reuters) - Australia's centre-left Labor government on Thursday said it would hold an independent inquiry into the handling of the COVID-19 pandemic to better prepare for future health crises. Australia closed its international borders and locked down cities among other pandemic restrictions that helped keep infections and deaths far below levels in other comparable developed economies such as the United States and Britain. A three-member panel, which includes an epidemiologist, public service expert and economist, will conduct the inquiry, Prime Minister Anthony Albanese told a media conference. "We need to examine what went right, what could be done better with a focus on the future," Albanese said. "Because the health experts and the science tells us that this pandemic may ... not likely to be the last one that occurs."
Persons: Loren Elliott, Anthony Albanese, " Albanese, Albanese's, Peter Dutton, Renju Jose, Miral Organizations: REUTERS, Rights, Labor, Thomson Locations: Sydney, Australia, United States, Britain, Victoria, Melbourne
Alan Joyce, Chief Executive Officer of Qantas, speaks with members of the media at an event celebrating Qantas' 100th birthday at Sydney Airport in Sydney, Australia, November 16, 2020. Most of the amount was share-based incentives that Joyce was allowed to cash in after they vested, according to the report. It could also "claw back" unvested stock bonuses for Joyce, currently worth A$6 million, it said. Joyce's final pay packet encapsulates his decade and a half of running the company, which dominates Australian air travel. Qantas must return to the Federal Court to determine what it must pay in penalties and compensation to affected workers.
Persons: Alan Joyce, Loren Elliott, Joyce, Richard Goyder, disquiet, Alan, Goyder, Byron Kaye, Sameer Manekar, Rashmi Aich, Gerry Doyle Organizations: Qantas, Sydney Airport, REUTERS, Rights Companies Qantas Airways Ltd, Australia's Qantas Airways, Consumer Commission, High Court, Federal, Thomson Locations: Sydney, Australia, Bengaluru
Their work progressed, and an Apple investing feature was meant to roll out in 2022. Source: AppleThe Apple Card launched with much fanfare three years ago, but the business brought regulatory heat and racked up losses as its user base expanded. Earlier this year, Goldman rolled out a high-interest savings account for Apple Card users, offering a 4.15% annual percentage yield. Before Goldman's pivot away from retail banking, the company examined ways to expand its partnership with Apple, sources said. WATCH: Goldman's Apple Card faces mounting credit losses
Persons: Goldman Sachs, Goldman, Tim Cook, Loren Elliott, That's, David Solomon, Charles Schwab, Morgan Stanley's, It's, Robinhood, Elon Musk's Organizations: Apple, Goldman, Reuters Apple, GameStop, AMC, Apple Card, American Express, . Stock, eToro, PayPal Locations: Cupertino , California, U.S, Block's
Passing the referendum should be a "first step" towards a treaty with First Nations people, they added. It has also pointed to historical trade by the country's First Nations people with Pacific Islands as a basis for strong modern ties, amid competition for influence with China. He added that whatever the outcome, his work would continue to highlight that Australia's First Nations people had been linked by trade to the Pacific Islands for centuries. Indigenous Australians, who account for 3.8% of the population, face disadvantages including discrimination, poor health and education outcomes and high incarceration rates. Some Indigenous Australians want stronger action, including a treaty with the government.
Persons: Rita Wright, Loren Elliott, Anote Tong, Tommy Remengesau, Hilda Cathy Heine, Anthony Albanese's, Justin Mohamed, Julie Bishop, Kirsty Needham, Edwina Gibbs Organizations: Australian, REUTERS, Rights, Former Pacific Islands, First Nations, Kiribati, Marshall, Pacific Elders Voice, Reuters, Aboriginal, Torres Strait, Nations, Vanuatu, VBTC, Thomson Locations: Sydney, Australia, Palau, Pacific, China, Islands
"Some companies have told us their estimations of their nature risk are larger than their climate risks." The guidelines aim to get companies to report their nature risks in ways that mirror their financial and economic reporting that for decades have been part of regular corporate operations. Both the climate and nature frameworks urge companies to choose appropriate indicators to measure, monitor and report their risks. Climate and nature-related risks are often closely connected, Goldner said. The 14 recommendations launched on Monday include describing nature-related risks and opportunities to business models, and explaining management's role in assessing and handling them.
Persons: Jack Bertenthal, Loren Elliott, Tony Goldner, Goldner, Isla Binnie, Timothy Gardner Organizations: Tahoe Community College, Research, REUTERS, Bank, KPMG, BlackRock, HSBC, Tata Steel, United Nations, Thomson Locations: Blodgett, Georgetown , California, U.S
[1/2] A depiction of the Australian Aboriginal Flag is seen on a window sill at the home of indigenous Muruwari elder Rita Wright, a member of the "Stolen Generations", in Sydney, Australia, January 19, 2021. REUTERS/Loren Elliott Acquire Licensing RightsSYDNEY, Sept 17 (Reuters) - Thousands rallied in Australia on Sunday to support recognising the country's Indigenous people in the constitution, a proposal that is struggling ahead of a referendum next month. Indigenous Australians, who account for 3.8% of the population, face disadvantages including discrimination, poor health and education outcomes and high incarceration rates. To change the constitution, the referendum, backed by Prime Minister Anthony Albanese's Labor government, would require a national majority in favour and majorities in at least four of Australia's six states. Most Indigenous people favour the referendum, but some, like prominent No campaigner Warren Mundine, say it is a distraction from achieving practical and positive outcomes and would not fully resolve the issues affecting them.
Persons: Rita Wright, Loren Elliott, Anthony Albanese's, Warren Mundine, we've, Mundine, Sam McKeith, William Mallard Organizations: Australian, REUTERS, Rights, Aboriginal, Torres Strait, Australian Broadcasting Corp, Anthony Albanese's Labor, ABC, Thomson Locations: Sydney, Australia, Brisbane, Sydney , Melbourne, Perth, Hobart, Canberra, Darwin, Newcastle
The iPhone 15 Pro is presented during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. REUTERS/Loren Elliott Acquire Licensing RightsSept 15 (Reuters) - Buyers of Apple's new iPhone 15 Pro Max in China will need to wait for four to five weeks before receiving the smartphone, the company's website showed on Friday as it started taking pre-orders in an early sign of strong demand. The wait is slightly shorter for iPhone 15 Pro at two to three weeks, while the company said it could deliver iPhone 15 by Sept. 22, the day the phone goes on sale in stores. For the iPhone 15 Plus, the wait in China is eight working days. "The new iPhone 15 series, especially the Pro series, will be a good choice for the installed base who are using iPhone 11/12 and looking for an update replacement," Lam said, while adding that Huawei's Mate 60 series will be a challenge to the iPhone.
Persons: Loren Elliott, Ivan Lam, Lam, Brenda Goh, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, Max, Apple, Huawei Technologies, Huawei, Thomson Locations: Cupertino , California, U.S, China, Shanghai, Bengaluru
Australian jobs surge as productivity debate heats up
  + stars: | 2023-09-14 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
"Headline indicators report a very strong employment report, but the bias towards predominantly part-time employment should temper exuberance," said Dwyfor Evans, head of APAC macro strategy at State Street Global Markets. Markets maintained bets that the Reserve Bank of Australia (RBA) would keep rates steady next month, with an about 40% chance of one final hike early next year. WAGES, PRODUCTIVITYThe strong figures showed Australia's jobs market is still extremely tight more than and a year-and-a-half after the economy shook off its COVID-era border restrictions. loadingTreasurer Jim Chalmers on Thursday welcomed the strong jobs report, but warned that the labour market could slow from here, a consensus view among economists. Adam Boyton, head of Australian research at ANZ, is already seeing signs of slackening in the labour market, with underemployment rate creeping up and hours worked falling.
Persons: Barista Claudio Chimisso, Loren Elliott, Dwyfor Evans, Tim Gurner, Alexandria Ocasio, Cortez, Jim Chalmers, Chalmers, Adam Boyton, Boyton, Stella Qiu, Kim Coghill, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Street Global, Reserve Bank, Australian, Reserve Bank of Australia, ANZ, Thomson Locations: Sydney, Australia, China
IPHONE 15 LAUNCHBoth the Pro and other iPhone 15 models will have a brighter display and a 48-megapixel camera as well as 100% recycled cobalt in their batteries. [1/6]New iPhone 15 and iPhone 15 Plus are displayed during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Apple said that USB-C charging cables are coming to both its iPhone 15 and the charging case of its AirPods Pro devices. She said the shift "brought some differentiation to the iPhone Pro, because there's faster throughput for data transfer. The iPhone 15 costs $799, the iPhone 15 Plus starts at $899 and the Pro series starts at $999.
Persons: Apple, Jeff Williams, Loren Elliott, Carolina Milanesi, Milanesi, Greg Joswiak, Bob O'Donnell, Pro Max, Lisa Jackson, Stephen Nellis, Aditya Soni, Pushkala, Raechel, Yuvraj Malik, Peter Henderson, Lisa Shumaker Organizations: Apple, Huawei Technologies, Huawei, Securities Times, REUTERS, American Automobile Association, AAA, Creative, TECHnalysis Research, Pro, Counterpoint Research, Thomson Locations: CUPERTINO , California, Cupertino , California, China, U.S, United States, Bengaluru
The announcement of the iPhone 15 line and upgraded smart watches at the company's annual event comes against the backdrop of flagging discretionary spending and expanded curbs on its flagship smartphones in China. Here are the details of the key announcements:The iPhoneApple launched iPhone 15 and iPhone 15 Plus, sporting 6.1-inch and 6.7-inch displays, respectively, similar to their predecessors. All the new models feature a 48-megapixel main camera, with the flagship Pro Max having 5X optical zoom and 3X telephoto capability. The iPhone 15 and iPhone 15 Plus get A16 bionic chip, while the iPhone 15 Pro and the Pro Max will be powered by the A17 pro chip. Apple also said the batteries of iPhone 15 and iPhone 15 Plus, which start at $799 and $899, respectively, are made of 100% recycled cobalt.
Persons: Tim Cook, Loren Elliott, Apple, Max, Pro Max, Yuvraj Malik, Sriraj Organizations: Apple, REUTERS, iPhone Apple, Pro Max, Pro, Thomson Locations: Cupertino , California, U.S, China, Bengaluru
The biggest single reduction in the emissions from the new watches came from using clean electricity to manufacture them. Apple on Tuesday said that 300 of its suppliers have now committed to using clean energy for Apple production. But another emissions source was Apple's speedy transportation network, which relies heavily on planes. The company has said previously that a Series 8 watch created 33 kg (73 lb) of carbon emissions, from raw materials to delivery to end customers. Apple has been focused on cutting carbon emissions for some time.
Persons: Steve Jobs, Loren Elliott, Lisa Jackson, Jackson, John Ternus, Apple, Stephen Nellis, Peter Henderson, Lisa Shumaker Organizations: Steve, Apple, REUTERS, Rights, Reuters, Thomson Locations: Cupertino , California, U.S, Rights CUPERTINO , California, China
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