Pope Francis earned a rapturous reception on a visit to a struggling steel factory in northern Italy on Saturday as he denounced financial speculators and demanded dignity for working people.
“Without work for all there will not be dignity for all,” the pontiff told several thousand uniformed and hard-hatted workers at the ILVA plant in the northwestern city of Genoa.
“The progressive transformation of the entrepreneur into a speculator is an economic illness,” he said. “The speculator is the same as a mercenary who has no company and sees workers only as a means to make profits.”
Photo: Reuters
The assembled gathering responded with applause and cries of “Francesco, Francesco” as the Argentine pope blasted the “faceless” nature of parts of today’s economy.
Taking questions from several of those gathered, including a chief executive officer and an unemployed woman, Francis praised the honor and dignity of “the good worker” and the good boss who would share the fruits of their respective labors.
He contrasted that with “speculators” who chase maximum profits at the expense of workers left on the scrapheap, while adding that there were “few greater joys than those experienced by working.”
Francis called high levels of joblessness among young people as “mortgaging the future” of a generation.
“Without work one can survive, but to live you need work,” he said.
At the same time, he criticized some sectors including the pornography and gambling industries.
Francis said he saw “democracy in crisis” in a working environment where many felt in thrall to a society that “sees only [the value of] consumption and does not understand the value of work and sweat.”
The heavily indebted ILVA Group was brought under Italian state control two years ago, then nationalized in an attempt to cut losses and prevent job losses.
Rome is now mulling selling ILVA to steel giant ArcelorMittal SA, owned by Indian billionaire Lakshmi Mittal.
Pope Francis’ own family originates from northern Italy. The Genoa region was where many Italians departed from as they emigrated to North and South America during the early 20th century.
At another event at the hilltop Sanctuary of Our Lady of the Guard overlooking the sea where thousands of young people gathered to hear him speak, the pontiff called on young people to overcome the attitude of superficial “tourists” who come only to take photographs and ignore the world around them.
He also warned them about the dangers of new technologies.
“Instead of informing you, they saturate you and your horizons shrink,” he said.
Francis added that young people should take the time for contemplation in order “to make proper judgments” instead of just “eating what is served up to them on a plate.”
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
STABLE RESULTS: Despite June’s lower consolidated revenue, second-quarter sales still reached a record high, driven by demand for chips for AI applications Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales of NT$263.71 billion (US$9.02 billion) for last month, its second-lowest monthly result this year. The world’s largest contract chipmaker said in a statement that its revenue last month only fared better than the NT$260.01 billion posted in February. Last month’s figure rose 26.9 percent from a year earlier, but slumped 17.7 percent from May, the company said. However, second-quarter revenue reached NT$933.8 billion, a record high for a single quarter, company data showed. The figure represented growth of 11.26 percent from the first quarter and 38.6 percent from a year earlier. Previously, TSMC said that