INDG08

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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Wall Street rises as Fed signals slowdown in rate hikes

Growth stocks rebound as Treasury yields fall Tesla leaps as Citigroup modernizes Nordstrom falls on reduced earnings forecast Dow Jones Industrial closed at the highest level since April Dow up 0.28%, S&P 500 up 0.59%, Nasdaq up 0.99% Nov 23 (Reuters) – Major Wall Street indexes ended Wednesday with strong gains after minutes from 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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Apple warns of lower iPhone shipments as COVID curbs hobble China plant

Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says factory in China is operating at greatly reduced capacity Apple supplier Foxconn revises down its outlook for the fourth quarter TAIPEI, November 7 (Reuters) – Apple Inc. (AAPL.O) expects shipments of high-end iPhone 14 models to be lower than previously expected following …

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Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou

BEIJING, Oct 30 (Reuters) – Cities in central China have hastily drawn up plans to isolate migrant workers fleeing to their hometown from a sprawling assembly plant at iPhone maker Foxconn (2317.TW) in COVID-hit Zhengzhou, fearing they could trigger coronavirus outbreaks. Zhengzhou, capital of central Henan province, reported 167 locally transmitted COVID-19 cases in the …

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Biden awards $2.8 billion to boost U.S. minerals output for EV batteries

WASHINGTON, Oct 19 (Reuters) – The Biden administration said on Wednesday it was providing $2.8 billion in grants to boost U.S. production of electric vehicle batteries and the minerals used to build them, as part of a an attempt to wean the country off supplies from China. “By undermining American manufacturers with their subsidies and …

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China tech shares sink as U.S. export curbs raise chip sector hurdles

By Josh Horwitz and Jason Xue SHANGHAI, Oct 10 (Reuters) – Shares in Chinese tech giant Alibaba Group (9988.HK) and Tencent (0700.HK) and chipmakers fell on Monday as investors spooked by new US export controls aimed at slowing Beijing’s technological and military advancements. The Biden administration on Friday issued a sweeping set of export controls, …

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Amazon.com to invest over 1 billion euros in European electric van, truck fleet

LONDON, October 10 (Reuters) – Amazon.com Inc (AMZN.O) said on Monday it would invest more than one billion euros ($974.8 million) over the next five years in low-emission electric vans, trucks and hubs across Europe, accelerating its desire to achieve net zero carbon. The retailer said the investment also aims to spur innovation in the …

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U.S. adds China’s YMTC and 30 other firms to ‘unverified’ trade list

WASHINGTON, Oct 7 (Reuters) – The United States on Friday added major Chinese memory chipmaker YMTC and 30 other Chinese entities to a list of companies that U.S. officials have been unable to inspect, saying which increased tensions with Beijing and launched a 60-day clock. this could result in much harsher penalties. The new listings …

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