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The Latest Breaking News from Shanghai

Volkswagen China To Idle Shanghai Factory, Extends Pause In Changchun Plants Amid COVID-19 Curbs

Volkswagen Group (OTC: VWAGY) told Benzinga on Thursday it would suspend production at its factory in Anting, Shanghai, between April 1-5 due to new COVID-19 related curbs aimed at halting a resurgence in cas

Benzinga

Shanghai residents frustrated by food shortages, prolonged lockdowns

Shanghai (AFP) - Shanghai residents voiced frustration Friday at a week of snap Covid lockdowns, complaining online about food shortages and bewildering stay-at-home orders.

AFP

Shanghai Composite Index Rose 0.94% on Friday

Shenzhen Component Index closed up 0.91%

Caixin Global

From analysis to the latest developments in health,
read the most diverse news in one place.

Shanghai moves to 2nd part of lockdown as testing lines grow

About 16 million residents in Shanghai are being tested for the coronavirus as a staged lockdown shifts to the western half of China’s biggest city and financial capital

The Independent UK

Covid lockdown extended in Shanghai as outbreaks put economy on the skids

China’s largest city and financial powerhouse is struggling to cope with the country’s worst outbreak since the start of the pandemic in Wuhan

The Guardian - AU

As Shanghai expands COVID lockdown, life on hold in city of 26 million

China's commercial hub of Shanghai ground to halt on Friday after the government locked down most of the city's 26 million residents to stop the spread of COVID-19, even as official numbers put local cases falling for the second day in a row.

Reuters

Volkswagen and Tesla Hit a Major Speed Bump

Shanghai, home to factories of many automakers, has become a ghost town.

The Street

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Opinion: In Crisis Mode, Shanghai Should Stick to Zero-Covid Approach

A UCLA professor’s long-term coexistence plan won’t help and could hinder Shanghai’s response to the current crisis, a Zhejiang University professor argues

Caixin Global

Volkswagen and Tesla Encounter Unexpected Difficulties

Shanghai, home to factories of many automakers, has become a ghost town.

The Street

Volkswagen, Tesla Hit by Shanghai Covid Lockdown

Volkswagen and Tesla are among the companies hit by the lockdown in Shanghai, which one resident calls 'a ghost town.'

The Street

Domino's China Operator DPC Dash Delivers Hong Kong IPO

Key takeaways: Domino’s China operator DPC Dash has filed for a Hong Kong IPO that could raise up to $100 million and value the company at around $500 million Company has cashed in on China’s recent shift to takeout dining, posting 18.7% same-store sales growth last year By Doug Young

Benzinga

Report: Tesla Giga Shanghai Will Extend Plant Suspension

The Tesla Giga Shanghai plant has suspended production of electric cars for several days, but it might not be the end of COVID-19-related lockdown disruption.

InsideEVs

Tesla Stock Slips Ahead of Q1 Deliveries, Extended Shanghai Gigafactory Shutdown

Tesla will publish Q1 deliveries in the coming days, with investors focused on any impact from production halts in Shanghai.

The Street

China reopens one city as Shanghai lockdown enters 2nd phase

The city of Shanghai is preparing to reopen its eastern half and shut its western half, while authorities elsewhere are lifting a citywide lockdown in the province hardest hit by China’s ongoing omicron-driven coronavirus outbreak

The Independent UK

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The Street

Stocks Mixed, Oil Slumps, Tesla, AMD and UiPath - Five Things You Must Know

Stock futures mixed ahead of inflation, jobs data; Oil prices slump as reports say Biden prepping biggest-ever SPR release; Tesla shares higher as Shanghai closures extend to April 3; UiPath shares plunge after Q4 loss, guidance cut and AMD shares slide on Barclays downgrade, price target cut

AFP

Shanghai official says virus response lacking as city grinds to halt

Shanghai (AFP) - A top Shanghai official conceded Thursday the Chinese financial hub had been "insufficiently prepared" for its latest Covid outbreak, as criticism mounts over lockdowns that have caught residents off guard.

Caixin Global

Shanghai Composite Index Fell 0.44% on Thursday

Shenzhen Component Index closed down 1.19%

Asharq Al-Awsat

Shanghai Urges COVID Lockdown Patience as Case Numbers Drop for First Time in 2 Weeks

Shanghai authorities on Thursday appealed to residents to keep cooperating with tight curbs imposed to stop COVID-19 spreading, saying they recognized their frustrations as China's most populous city entered the fourth day of a two-stage lockdown. The plea for patience came as the Chinese financial hub, home to 26 million…

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The Independent UK

China manufacturing weakens as anti-virus controls tighten

An official survey shows China’s manufacturing activity fell to a five-month low in March after most of Shanghai and two smaller industrial cities were shut down to fight coronavirus outbreaks

Reuters

Shanghai to expand lockdown to most residents as COVID cases rise

Shanghai is set to put the vast majority of its residents under COVID lockdown from Friday, as it expands curbs to include the western half of the city and extends restrictions in the east where people have already been forced to stay home since Monday.

Caixin Global

State Oil Giant CNOOC Cleared for $5.5 Billion Share Sale in Shanghai

China’s biggest offshore driller posts record 2021 earnings as profits jump 182% on rising output and soaring world oil prices

Crikey

The pandemic’s not over. Just ask Xi Jinping

With Shanghai going into lockdown, the stakes are high for Xi’s zero-COVID policy — and for his hold on power if the virus escapes control.

Caixin Global

Opinion: How Shanghai Can Pioneer a New Path for Disease Control

Amid worst Covid-19 outbreak, city could turn pandemic into manageable endemic disease using self-isolation, self-testing and advanced drugs and vaccines

Motor1

GM’s Shanghai Plant Keeps Producing As Workers Sleep On Factory Floor

The region is experiencing rising COVID-19 cases.

Caixin Global

Shanghai Offers Support for Importing Covid Drugs and Vaccines as It Battles Outbreak

City releases a slate of new measures to keep its economy running under strict lockdown measures, including ramping up testing capacity and tax and fee cuts for businesses

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