More than 20,000 employees, most of them were new hires not yet working on the production line, have left Apple supplier Foxconn’s Zhengzhou plant in China, a Foxconn source familiar with the matter told Reuters…
Monthly Archives For November 2022
Asian markets mixed as easing Fed fears tempered by China Covid
Asian markets were mixed Friday at the end of a week that has seen hopes the Federal Reserve will tone down its monetary tightening campaign offset by fresh lockdown fears as Covid-19 cases surge in…
Alibaba, Nio Fall Over 2%: Hong Kong Stocks Weaker As Record China COVID-19 Cases Alarm Investors
Hong Kong stocks opened in the red on Friday, with the benchmark Hang Seng losing over 1% in opening trade, as market focus shifted to increasing COVID-19 cases in China, which reported a record-high number…
China reports new daily record COVID-19 cases, curbs tighten across country
SHANGHAI: China on Friday (Nov 25) reported another record high of daily COVID-19 infections, as cities across the country enforce measures and curbs to control outbreaks. Thursday’s new local COVID-19 infections set a daily record…
Country Garden: survivor of the China property bloodbath
On the north-west edge of Shanghai, over one hundred salespeople in black suits gathered around a replica of a Country Garden residential development as an enthusiastic instructor offered guidance on …
Crypto winter highlights gold’s warming qualities
The crypto winter is bitterly cold. The frost set in earlier this year with the collapse of Terra, a digital token supposedly pegged to the U.S. dollar. The recent failure of Sam Bankman-Fried’s FTX …
Profit Grows, Retail Network Shrinks At China Billionaire’s Down Jacket Brand Bosideng
Bosideng International Holdings, the top China down jacket maker led by billionaire Gao Dekang, said on Thursday sales and profit gained in the six months to September amid growth in online sales and …
China Down Jacket Leader Bosideng’s Profit Grows, Retail Network Shrinks
Net profit gained 15% to 734.3 million yuan. Bosideng’s retail chain shrank by a net 139 locations to 3,670 from March. Its own self-operated retail stores decreased by 163 to 1,563, while retail …
New Shanghai COVID-19 Rules Dim China Luxury Market Outlook
According to Barclays, the latest round of restrictions in one of China’s most important luxury hubs will bring an “additional headwind to China luxury sales in the fourth quarter.”
Beijing reports 424 symptomatic, 1,436 asymptomatic COVID cases for Nov 24
China’s capital Beijing reported 424 symptomatic new locally transmitted COVID-19 infections and 1,436 asymptomatic cases for Nov. 24, local government authorities said on Friday.
In a Challenge to Beijing, Unrest Over Covid Lockdowns Spreads
Protests are rising as China enacts more lockdowns and quarantines, with no end in sight. The defiance is a test of Xi Jinping’s authoritarian leadership.
‘No way we can open’: China’s zero-Covid exit plans unravel
President Xi Jinping conferred medals on the heroes of China’s battle with coronavirus and declared that its handling of the pandemic had, once again, proved the superiority of Beijing’s political system.
China threat looms in Taiwan’s local elections as voters weigh island’s future
Ruling DPP campaigns on rising Beijing threat while rival KMT steers clear, in first vote since tensions in Taiwan strait escalated
