EMRG

Tesla cuts Dec Model Y output at Shanghai plant by more than 20% versus Nov – sources

SHANGHAI, Dec 5 (Reuters) – Tesla (TSLA.O) plans to cut December production of the Model Y at its Shanghai plant by more than 20% from the previous month, two people with knowledge of the electric vehicle (EV) giant’s production plan said Monday. Tesla did not immediately respond to a request for comment on the planned …

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Foxconn’s woes to take bigger toll on giant China iPhone plant as more workers leave -source

November shipments from Foxconn’s Zhengzhou plant to drop further – source Workers’ discontent at the factory turned into protests this week More than 20,000 workers, mostly new recruits, left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) China’s flagship iPhone factory is expected to see its November shipments further reduced by the latest bout …

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Foxconn apologises for pay-related error at China iPhone plant after worker unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over wages and conditions Apple says it has a team on the ground in Zhengzhou TAIPEI/SHANGHAI, November 24 (Reuters) – Foxconn (2317.TW) said on Thursday that a “technical error” related to compensation occurred when hiring new hires at a …

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Stocks churn ahead of Fed minutes as oil tumbles on price cap plan

Fed Minutes for November at 7:00 p.m. GMT American Thanksgiving holiday on Thursday Stocks post weak gains globally Eurozone economic data point to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global stocks rebounded on Wednesday ahead of minutes of a Federal Reserve meeting that could shed light on whether the …

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Stick-wielding men smash surveillance cameras at China iPhone plant

SHANGHAI, Nov 23 (Reuters) – Men wielding batons smashed surveillance cameras and windows at a huge Apple-owned campus (AAPL.O) Foxconn supplier (2317.TW) in the Chinese city of Zhengzhou, scenes streamed live on Kuaishou’s short video platform were released on Wednesday. Hundreds of workers demonstrated on campus, home to the world’s largest iPhone factory, where many …

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Gamers lament end of Warcraft in China as Blizzard and NetEase part ways

November 17 (Reuters) – Blizzard Entertainment (ATVI.O) and NetEase (9999.HK) caused consternation among thousands of gamers on Thursday by saying hits such as ‘World of Warcraft’ will not be available in China from next year as a 14-year partnership ended. NetEase shares closed 9% lower in Hong Kong after Blizzard said it was unable to …

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Buffett’s Berkshire discloses $4.1 bln TSMC stake

Nov 14 (Reuters) – Berkshire Hathaway Inc. (BRKa.N) said it purchased more than $4.1 billion worth of Taiwan Semiconductor Manufacturing stock (2330.TW)a rare significant foray into the tech sector by billionaire conglomerate Warren Buffett. The news sent shares of TSMC soaring, closing up 7.9% in Taiwan on Tuesday, as it bolstered investor sentiment for the …

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Regulators circle FTX as rival exchanges try to calm investors

US Department of Justice, SEC and CFTC investigating FTX, sources say Fed’s Brainard: Crypto Should Be Subject to Traditional Financial Rules Crypto.com CEO Says He Will Release Proof of Reserves Bitcoin stabilizes around $16,590 NEW YORK, Nov 14 (Reuters) – Bitcoin and other cryptocurrencies were under pressure on Monday after crypto exchange FTX’s dramatic collapse …

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Nearly half of Meta job cuts were in tech, reorg underway – execs say

OAKLAND, Calif., November 11 (Reuters) – Meta Platforms, owner of Facebook (META.O) told employees on Friday it would stop developing smart displays and smartwatches and that nearly half of the 11,000 jobs it cut this week as part of unprecedented cost-cutting were in tech roles . Speaking at a public employee meeting heard by Reuters, …

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