Mass layoffs in China's coal country threaten unrest
Beijing faces test of whether it can head off labour discontent in a slowing economy
Hegang, China
IN the dank shower room where the miners soak, the coal dust from their bodies staining the water chocolate, a lone worker sat smoking a cigarette, staring at the floor.
He lingered, he explained, because since his pay had been cut in half, he had been eating dinner at his parents' apartment, and he dreaded the humiliation of going there again.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Exxon-Pioneer deal gets green light from US FTC, Pioneer exec barred from board
Shell maintains pace of buybacks as profit beats estimates
Gold prices drift higher as Fed stands pat on key interest rate
Oil falls to 7-week low on surprise US storage build, Middle East hopes
US, Philippines eye agreement to cut China nickel dominance
Oil eases on higher US crude output, hopes of Israel-Hamas ceasefire