Foxconn protests: iPhone factory offers to pay workers to quit and leave Zhengzhou campus

Foxconn protests: iPhone factory offers to pay workers to quit and leave Zhengzhou campus

Hong Kong CNN Business — Foxconn has offered to pay newly hired workers 10,000 yuan ($1,400) to leave the world’s largest iPhone assembly plant in a bid to quell protests that have seen hundreds clash with security forces at the compound in central China. The Apple supplier made the offer on Wednesday after dramatic scenes … Read more

Zhengzhou, China: Protesters at Foxconn factory clash with police, videos show

Zhengzhou, China: Protesters at Foxconn factory clash with police, videos show

Beijing/Hong Kong CNN Business — Workers at China’s largest iPhone assembly factory were seen confronting police, some in riot gear, on Wednesday, according to videos shared on social media. Videos show hundreds of workers facing off against police officers, many wearing white protective suits, at the Foxconn campus in the central Chinese city of Zhengzhou. … Read more

Stocks open higher as Wall Street tries to shake China’s Covid fears

Stocks open higher as Wall Street tries to shake China’s Covid fears

Stocks rose on Tuesday morning as Wall Street shrugged off another COVID-19 lockdown in China and instead focused on a series of strong earnings reports during a short week of Thanksgiving trading. The Dow Jones Industrial Average climbed 292 points, or 0.87%. The S&P 500 and Nasdaq Composite rose 0.77% and 0.53%, respectively. Mixed earnings … Read more

Hong Kong stocks lead losses as China’s Covid cases rise; Asian markets are mixed

Hong Kong stocks lead losses as China’s Covid cases rise;  Asian markets are mixed

Shares of JD.com fell after the company cut the salaries of top management Shares listed in Hong Kong JD.com was trading more than 5% lower in the afternoon after the company confirmed pay cuts to its senior management team. The Chinese e-commerce giant has confirmed it will cut the cash pay of its top management … Read more

Kamala Harris’ visit to the Philippines sends a message to China about US intent

Kamala Harris’ visit to the Philippines sends a message to China about US intent

CNN — A Philippine archipelago known for tropical vacations will be in the political spotlight this week when Vice President Kamala Harris becomes the highest-ranking US official to visit its main island. Palawan is home to diving resorts as well as a Philippine military base that Harris will visit on Tuesday, according to a senior … Read more

Asia-Pacific markets are trading lower; China keeps the LPR stable

Asia-Pacific markets are trading lower;  China keeps the LPR stable

Japanese department stores rise as Berkshire Hathaway reportedly raises stake Shares in some Japanese department stores rose at the start of the Asian session despite retreats in the region’s markets after billionaire Warren Buffett’s Berkshire Hathaway boosted its holdings in firms, according to regulatory filings. Berkshire increased its stake by more than 1 percentage point … Read more