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The Latest Breaking News from Shanghai

Shanghai disinfects homes, closes all subways in COVID fight

Teams in white protective suits are going into the homes of coronavirus-infected people to spray disinfectant as Shanghai tries to root out an omicron outbreak under China’s strict “zero-COVID” strategy

The Independent UK

Tesla Said To Halt Shanghai Production Again — This Time Due To Supply Woes

Tesla Inc (NASDAQ: TSLA) halted production at the Giga Shanghai on Monday due to issues with supplies, Reuters

Benzinga

‘No end in sight’: Shanghai residents chafe at harsh Covid measures

Tensions rise again as lockdowns grind on and the city’s population tire of strict zero-Covid policy

The Guardian - UK

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Lenovo, Xiaomi, Other Chinese Tech Giants Pull Back From Russia

Chinese tech companies, including PC giant Lenovo Group Ltd (OTC:LNVGY) and smartphone maker Xiaomi Corp (OTC:XIACY), quietly pulled back from Russia under pressure from U.S. sanctions and suppliers, the Wall Street Journal reports. Consumer drone giant SZ DJI Technology Co suspended its business in Russia and Ukraine pending a compliance review. The companies pulled back amid Beijing…

Benzinga

Texas Instruments Denies Firing Staff as Shanghai Microcontroller Unit Disbanded

Global semiconductor giant is reassigning staff to other units amid a dwindling market share, chip experts say

Caixin Global

Shanghai tightens lockdown despite falling COVID cases

Authorities in Shanghai have again tightened anti-virus restrictions, just as the city was emerging from a month of strict lockdown due to a COVID-19 outbreak

The Independent UK

Beijing goes quiet as zero-Covid policy smothers capital

Beijing (AFP) - Millions of people in Beijing stayed home on Monday as China's capital tries to fend off a Covid-19 outbreak with creeping restrictions on movement.

AFP

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Global stocks deepen losses on rising rates, China lockdowns

London (AFP) - World stock markets mostly sank Monday on stubborn fears over the impact of rising US interest rates, surging inflation and China's Covid lockdowns.

AFP

Stocks Extend Slump, Week Ahead, Uber, Apple, Twitter In Focus - Five Things You Must Know

Stock futures extend slump as China adds to growth concerns; Week Ahead: inflation in focus as earnings season slows; Uber shares slide on report of cost-cutting, hiring slowdown; Apple shares slump amid disruption at key China-based chipmaker and Twitter shares stuck under $50 despite Musk's bullish revenue projections

The Street

'There's no why': Shanghai rages at endless Covid lockdown

Shanghai (AFP) - Scuffles with officials, workers storming factory gates and households raging at being dragged into quarantine -- Shanghai's long fight against Covid-19 is unravelling into chaos and desperation.

AFP

Asian stocks tumble on global anxieties over inflation and China lockdowns

Hong Kong (AFP) - Asian stocks fell on Monday as investors remained anxious over inflation and the ongoing impact of China's Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.

AFP

Shanghai Composite Index Rose 0.09% on Monday

Shenzhen Component Index closed down 0.41%

Caixin Global

Downtown Beijing Goes Quiet as Zero-Covid Policy Smothers Capital

Millions of people in Beijing stayed home on Monday as China's capital tries to fend off a Covid-19 outbreak with creeping restrictions on movement. Beijing residents fear they may soon find themselves in the grip of the same draconian measures that have trapped most of Shanghai's 25 million people at…

Asharq Al-Awsat

China trade weakens after cities shut down to fight virus

China’s export growth tumbled in April after Shanghai and other major industrial cities were shut down to fight virus outbreaks

The Independent UK

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AFP

Downtown Beijing goes quiet as zero-Covid policy smothers capital

Beijing (AFP) - Millions of people in Beijing stayed home on Monday as China's capital tries to fend off a Covid-19 outbreak with creeping restrictions on movement.

Reuters

'Like a prison': Shanghai, Beijing ratchet up COVID restrictions

China's two largest cities tightened COVID-19 curbs on Monday, fuelling public angst and even questions about the legality of its uncompromising battle with the virus that has battered the world's second largest economy.

AFP

Asian stocks tumble on global anxieties over inflation

Hong Kong (AFP) - Asian stocks fell Monday as investors remained anxious over inflation and the ongoing impact of China's Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.

Tribune News Service

China premier warns of ‘grave’ jobs situation amid lockdowns

Chinese Premier Li Keqiang warned of a “complicated and grave” employment situation as Beijing and Shanghai tightened curbs on residents in a bid to contain COVID-19 outbreaks in the country’s most important cities.

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Reuters

Analysis-Shanghai COVID crisis puts political spotlight on key Xi ally

If Shanghai Communist Party chief Li Qiang has been politically bruised by the city's struggle to tame a COVID-19 outbreak that has infuriated residents and caused severe economic damage, there is little sign of it.

Reuters

Shanghai tightens lockdown to hit zero-COVID goal by late May - sources

Shanghai is tightening its already strict COVID-19 lockdown in a fresh push to eliminate infections outside quarantined areas of China's biggest city by late this month, people familiar with the matter said.

Reuters

Chaos at Apple supplier Quanta shows strains of Shanghai COVID lockdown

Quanta Shanghai Manufacturing City would seem like an ideal site to implement China's "closed-loop" management system to prevent the spread of COVID that requires staff to live and work on-site in a secure bubble.

Reuters

'Stop asking why': Shanghai tightens COVID lockdown, Beijing keeps testing

Shanghai authorities were tightening the city-wide COVID lockdown they imposed more than a month ago, prolonging into late May an ordeal that China's capital Beijing was desperate to avoid by turning mass testing into an almost daily routine.

The Street

What Pushed Apple Factory Workers to Riot?

Workers at a Shanghai technology factory crashed through barriers erected to keep them from leaving the plant and struggled with guards trying to keep them inside.

Benzinga

EV Week In Review: Tesla Has Good News On Shanghai, Nio's Plans Amid Delisting Risk, And This Auto Giant Renews EV Leadership Pledge

Electric vehicle and allied sector stocks extended their losses in the week ending May 6, caught in the vortex of the broader market sell-off seen in the final two sessions of the week. Chinese EV stocks led the week's retreat amid fears that they could be potentially delisted from U.S. exchanges.

Asharq Al-Awsat

Beijing kicks off fresh round of COVID tests as Shanghai postpones crucial exams

China's capital Beijing kicked off a fresh round of mass testing for COVID-19 on Saturday and shut more bus routes and metro stations, as it seeks to avert the fate of Shanghai, where millions of residents have been locked down for over a month. The draconian movement curbs on Shanghai,…

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