Tesla ships first Semi to PepsiCo five years after unveiling it No details on orders or capacity for electric truck Semi uses existing Tesla motors, to feature new Supercharger Dec 1 (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk delivered the company’s first heavy-duty Semi on Thursday to PepsiCo (PEP.O) without offering updated forecasts … Read more
Deal comes amid pressure from Chinese shareholder Analysts hail ‘sensitive’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout … Read more
Foxconn Zhengzhou plant’s Nov shipments to fall further – source Worker unhappiness at plant escalated into protests this week Over 20,000 workers, mostly new recruits, have left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone plant in China is set to see its November shipments further reduced by the latest bout of … Read more
Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over pay, terms Apple says it has team on the ground in Zhengzhou TAIPEI/SHANGHAI, Nov 24 (Reuters) – Foxconn (2317.TW) said on Thursday a pay-related “technical error” occurred when hiring new recruits at a COVID-hit iPhone factory in China … Read more
BEIJING, Nov 24 (Reuters) – China reported record high COVID-19 infections on Thursday, with cities nationwide imposing localized lockdowns, mass testing and other curbs that are fueling frustration and darkening the outlook for the world’s second largest economy. The resurgence of infections, nearly three years after the pandemic emerged in the central city of Wuhan, … Read more
Growth stocks bounce as Treasury yields drop Tesla jumps as Citigroup upgrades Nordstrom falls on reduced profit forecast ROBOT Nov 23 (Reuters) – Wall Street’s main indexes ended Wednesday with solid gains after the Federal Reserve’s November meeting minutes showed interest rate hikes may slow soon. A “substantial majority” of policymakers agreed it would “likely … Read more
COVID restrictions increase as case rise Unrest at iPhone factory adds to concerns about economy, underscores frustrations Analysts warn of potential for wider lockdowns BEIJING, Nov 23 (Reuters) – Chinese cities imposed more curbs on Wednesday to rein in rising coronavirus cases, adding to investor worries about the economy as fresh unrest at the world’s … Read more
SHANGHAI, Nov 23 (Reuters) – Men wielding sticks smashed surveillance cameras and windows at a massive campus owned by Apple (AAPL.O) beg foxconn (2317.TW) in the Chinese city of Zhengzhou, scenes broadcast live on the Kuaishou short video platform showed on Wednesday. Hundreds of workers protested at the campus, home to the world’s largest iPhone … Read more
Southern manufacturing hub fighting worst COVID-19 flare-up Cases double in Zhengzhou, production base for Apple supplier Chinese stocks, currency slip over virus fears BEIJING, Nov 8 (Reuters) – New coronavirus cases surged in Guangzhou and other Chinese cities, official data showed on Tuesday, with the global manufacturing hub becoming China’s latest COVID1-9 epicenter and testing … Read more
Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says a China plant operating at sharply reduced capacity Apple supplier Foxconn revises down Q4 outlook TAIPEI, Nov 7 (Reuters) – Apple Inc. (AAPL.O) expects lower shipments of high-end iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted … Read more