Business and economy

20,000 hires have left the Chinese campus of Apple supplier Foxconn: Source |  Business and economy

20,000 hires have left the Chinese campus of Apple supplier Foxconn: Source | Business and economy

The staff departures come amid concerns over Apple’s ability to deliver products for the busy holiday season. More than 20,000 workers at Apple supplier Foxconn’s massive Chinese factory, mostly new hires not yet working on production lines, have left, a source close to Foxconn told Reuters news agency on Friday. folder. Layoffs from the world’s …

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South Korea's Yoon warns against crackdown on truckers' strike |  Business and economy

South Korea’s Yoon warns against crackdown on truckers’ strike | Business and economy

South Korean President Yoon Suk-yeol has warned that the government could intervene to break up a national truckers’ strike, describing it as an illegal and unacceptable move to hold the national supply chain hostage during an economic crisis. Thousands of unionized truckers launched their second major strike on Thursday to demand better wages and working …

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Nigeria launches new banknotes to help fight corruption |  Business and Economy News

Nigeria launches new banknotes to help fight corruption | Business and Economy News

Regulators said January 31 was the deadline for old notes to be used or deposited in banks. Nigeria has launched newly designed banknotes, a move the West African nation’s central bank says will help curb inflation and money laundering. Experts, however, are skeptical of such results in a country that has battled chronic corruption for …

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Apple Supplier Foxconn Apologizes After Chinese Campus Unrest |  Business and economy

Apple supplier Foxconn apologizes after Chinese campus unrest | Business and economy

The Taiwanese tech giant says a “technical error” is behind a pay dispute that has seen workers clash with police. Apple supplier Foxconn has apologized to workers after its massive iPhone manufacturing complex in central China was rocked by violent protests over wages and conditions. The Taiwanese tech giant said on Thursday it had identified …

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Apple Supplier Foxconn Apologizes After Chinese Campus Unrest |  Business and economy

Apple Supplier Foxconn Apologizes After Chinese Campus Unrest | Business and economy

The Taiwanese tech giant blames a “technical error” for a pay dispute that has seen workers clash with police. Apple supplier Foxconn has apologized to workers after its massive iPhone manufacturing complex in central China was rocked by violent protests over wages and conditions. The Taiwanese tech giant said on Thursday it had identified a …

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FTX was run as former CEO's 'personal fiefdom', lawyers say |  Business and Economy News

FTX was run as former CEO’s ‘personal fiefdom’, lawyers say | Business and Economy News

FTX was run as a “personal fiefdom” of former CEO Sam Bankman-Fried, lawyers for the collapsed crypto exchange said during its first bankruptcy hearing as they detailed ongoing challenges such as the hacks and important missing assets. In the most publicized crypto explosion to date, FTX filed for protection in the US after traders withdrew …

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Beijing closes parks, Shanghai tightens entrance as COVID cases rise |  Business and Economy News

Beijing closes parks, Shanghai tightens entrance as COVID cases rise | Business and Economy News

The Chinese capital is closing more public places and Shanghai is imposing strict entry rules from Thursday. Parks and museums have been closed in Beijing while Shanghai has tightened rules for people entering China’s financial hub as authorities grapple with a rise in COVID-19 cases and growing concerns about the economy . China reported 28,127 …

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Crypto Lender Genesis Denies Bankruptcy Plans After FTX Collapse |  Crypto

Crypto Lender Genesis Denies Bankruptcy Plans After FTX Collapse | Crypto

Genesis’ comments come days after it halted customer withdrawals due to liquidity difficulties. Cryptocurrency lender Genesis has denied being on the verge of declaring bankruptcy, days after halting withdrawals in response to the collapse of crypto exchange FTX. Genesis said on Monday it had “no intention” of filing for bankruptcy in the immediate future and …

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China signs 27-year gas deal with QatarEnergy to secure supply |  Business and Economics News

China signs 27-year gas deal with QatarEnergy to secure supply | Business and Economics News

QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas (LNG) in the longest such deal to date, as volatility pushes buyers to seek long-term supplies. Since Russia’s invasion of Ukraine in February, competition for LNG has become intense, with Europe, in particular, needing large quantities to help replace the Russian …

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Twitter loses its most active users, according to internal documents |  Business and Economics News

In Brazil, Twitter users fear the effects of Musk’s reign | Business and Economics News

It was Easter and Lola Aronovich, a professor of Brazilian literature, was enjoying a break on a beach without internet access, completely unaware of the smear campaign orchestrated against her on Twitter. On that day in April 2015, the son of Geraldo Alckmin, former governor of São Paulo and current vice-president-elect of Brazil, tragically died …

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