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The Latest Breaking News from Foxconn

China re-opens more areas at risk for COVID spread as lockdowns ease

China has slashed the number of locations deemed at high risk of wider COVID outbreaks, re-opening locked down areas including one hosting a key factory of an Apple supplier.

Reuters

Apple supplier Foxconn's founder pushed China to ease COVID curbs - WSJ

Apple supplier Foxconn's founder Terry Gou had warned China that the government's zero-COVID stance would threaten the position of the world's second-largest economy in the global supply chain, the Wall Street Journal reported.

Reuters

China may reopen soon—but 'millions' of new COVID cases will disrupt its economic recovery

Analysts are warning of a "bumpy," "zigzagging" recovery since China's COVID cases and deaths will likely spike.

Fortune

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Shanghai Composite Index Fell 0.4% on Wednesday

Shenzhen Component Index closed up 0.17%

Caixin Global

'The clock has struck midnight in China': Wedbush analyst Dan Ives says Apple needs a new plan after major iPhone supply chain disruptions

By 2025, 50% of iPhone production could be in these two countries instead, according to Wedbush tech analyst Dan Ives.

Fortune

How one Chinese Twitter user exposed COVID protests to the world

‘Teacher Li’ has amassed more than 800,000 followers with his posts highlighting COVID-related unrest in China.

Al Jazeera

Apple Makes Plans to Move Production Out of China

In recent weeks, Apple Inc. has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world's most valuable company, say people involved in the discussions.

Bangkok Post

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Lordstown Endurance Electric Pickup Now Homologated And Certified For US Sales

The company says it has already built the first customer vehicles out of an initial batch of 500 units and they are now ready for delivery.

InsideEVs

VW's Scout Brand Could Tap Foxconn Or Magna Steyr To Build EVs: Report

The company isn't ruling out building the EVs itself, either.

Motor1

Volkswagen May Partner With Foxconn To Bring Scout EVs To US

Volkswagen is reviving the Scout brand, and the first copies are expected to by EVs coming in 2026. Now, it looks like VW may lean on Foxconn for the US market.

InsideEVs

China’s COVID chaos may cost Apple billions—and there’s not much Tim Cook can do about it

For Apple, setbacks in iPhone production due to government-mandated lockdowns are the price of doing business in China.

Fortune

How a 'forgotten,' 110-day lockdown sparked China's nationwide COVID protests

A deadly fire in a region locked down since August ignited rare demonstrations of dissent across China.

Fortune

Amid protests over lockdowns, Goldman Sachs warns that China's COVID-zero exit may be ‘forced and disorderly’

“The central government may soon need to choose between more lockdowns and more COVID outbreaks,” Goldman Sachs wrote on Sunday.

Fortune

Australian retail sales suffer first fall of 2022 as inflation bites, ASX lower

Australian retail sales suffered their first fall of 2022 in October as rising prices and higher interest rates finally seemed to have an impact on spending, a surprisingly soft result that suggests tighter policy is working as intended.

ABC News

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The Times of India

Huge Covid protests erupt in China's Xinjiang after deadly fire

Crowds shouting at hazmat-suited guards after a deadly fire triggered anger over their prolonged Covid-19 lockdown as nationwide infections set another record.

inkl Originals

The Weekly Wrap for Saturday, 26 November 2022

A spate of mass shootings absorbed America this week. You've been here before. Too many guns. Too much homophobia and transphobia. Too much polarisation. Too little tolerance. Too sparse opportunities for social mobility.

Daily Mirror

Black Friday shoppers set for shortages of new iPhones because of supply issues

Consumers looking for a new iPhone 14 over the Black Friday shopping period may be out of luck, as experts say Apple shortages might last for the rest of the year

The Guardian - UK

China imposes new lockdowns as local Covid cases hit record high

Country reports 31,444 new locally transmitted cases, the highest daily figure since pandemic began

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The Independent UK

Foxconn apologizes for pay dispute at China factory

The company that assembles Apple Inc.’s iPhones has apologized for what it said was a technical error that led to protests by employees over payment of wages offered to attract them to a factory that is under anti-virus restrictions

Bangkok Post

6 million locked down in 'iPhone city'

ZHENGZHOU, China: Authorities have ordered six million people into lockdown in a city where violent protests broke out at an iPhone factory over Covid isolation policies and working conditions.

Evening Standard

China: ‘Zero Covid’ outlier imposes more lockdowns as coronavirus infections hit record high

More than 6million people in Zhengzhou have been told to stay at home for five days as China sticks to its ‘zero Covid’ strategy

Al Jazeera

Apple supplier Foxconn apologises after unrest at Chinese campus

Taiwanese tech giant says ‘technical error’ to blame for pay dispute that saw workers clash with police.

Fortune

Apple supplier Foxconn will pay new hires $1,400 to quit as China's 'iPhone city' enters COVID lockdown

Foxconn is scrambling to respond to lockdowns and unrest at its Zhengzhou, China iPhone factory, where workers and security personnel clashed on Wednesday.

The Independent UK

China expands lockdowns as COVID-19 cases hit daily record

China is expanding lockdowns, including in a city where factory workers clashed this week with police, as its number of COVID-19 cases hit a daily record

Fortune

How bad are the 'iPhone city' riots for Apple stock? Analysts see a 'body blow' for the most valuable company on earth

Hundreds of workers clashed with authorities at Foxconn's iPhone plant in Zhengzhou, China on Wednesday. Analysts warn it could affect already ailing iPhone production.

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