INFDIS

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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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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Oil prices ease to near 2-month lows on China demand fears, dollar strength

Brent and WTI contracts fell around $1 a barrel earlier Beijing districts close schools as China’s COVID cases rise Rising dollar weighs on prices LONDON, Nov 21 (Reuters) – Oil prices fell on Monday to trade near their lowest level in two months, after falling around $1 a barrel as supply fears faded while concerns …

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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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CVS, Walmart, Walgreens agree to pay $13.8 bln to settle U.S. opioid claims

Nov 2 (Reuters) – CVS Health Corp (CVS.N)Walgreens Boots Alliance Inc. (WBA.O) and Walmart Inc. (WMT.N) agreed to pay approximately $13.8 billion to resolve thousands of lawsuits filed by U.S. state, local and tribal governments accusing drugstore chains of mishandling opioid painkillers. CVS said Wednesday it agreed to pay about $5 billion over 10 years, …

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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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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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