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Foxconn woes will weigh heavier on China's giant iPhone factory as more workers leave - source

Foxconn woes will weigh heavier on China’s giant iPhone factory as more workers leave – source

November shipments from Foxconn’s Zhengzhou plant to drop further – source Workers’ discontent at the factory turned into protests this week More than 20,000 workers, mostly new recruits, left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone factory in China is expected to see its November shipments further reduced by the latest …

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Foxconn apologizes for payroll error at Chinese iPhone factory after workplace unrest

Foxconn apologizes for payroll error at Chinese iPhone factory after workplace unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over wages and conditions Apple says it has a team on the ground in Zhengzhou TAIPEI/SHANGHAI, Nov 24 (Reuters) – Foxconn (2317.TW) said on Thursday that a payroll-related “technical error” occurred when hiring new hires at a coronavirus-hit iPhone …

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Wall Street ends lower after Target outlook and Micron bid cut

Wall Street ends lower after Target outlook and Micron bid cut

October retail sales rise more than expected Target’s bleak outlook weighs on retailers Micron supply cut triggers chip sell-off Indices down: Dow 0.12%, S&P 0.83%, Nasdaq 1.54% Nov 16 (Reuters) – Major Wall Street indexes ended lower on Wednesday as a gloomy outlook for Target sparked fresh concerns over retailers ahead of the crucial holiday …

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Apple warns of falling iPhone shipments as COVID curbs Chinese factory

Apple warns of falling iPhone shipments as COVID curbs Chinese factory

Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says factory in China is operating at greatly reduced capacity Apple supplier Foxconn revises down its outlook for the fourth quarter TAIPEI, Nov 7 (Reuters) – Apple Inc (AAPL.O) expects shipments of high-end iPhone 14 models to fall from what was expected following …

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Buffett's Berkshire loses money as stocks and Hurricane Ian offset rising demand

Buffett’s Berkshire loses money as stocks and Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) posted a $2.69 billion third-quarter loss on Saturday, rising inflation, falling equity investment and a steep loss due to Hurricane Ian, which offset the improvement in many of the conglomerate’s businesses. Operating income nevertheless increased by 20%, exceeding analysts’ forecasts. Berkshire benefited from higher demand …

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Dollar shrugs off suspected yen intervention, Europe clings to Fed hopes

Dollar shrugs off suspected yen intervention, Europe clings to Fed hopes

Dollar shaken against yen by alleged BOJ intervention European stocks rise ahead of earnings-heavy week Chinese GDP beats forecasts but retail sales disappoint Pound gains as Sunak emerges as favorite for PM LONDON/SYDNEY, Oct 24 (Reuters) – The dollar resisted a further push of Japanese intervention against the yen on Monday, as European markets were …

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China's third-quarter GDP growth beats expectations, but risks loom

China’s third-quarter GDP growth beats expectations, but risks loom

China’s third-quarter GDP growth picks up as expected, outpacing f’cast September sees better than expected industrial activity Export momentum fades, imports reflect sluggish demand Persistent COVID brakes, property weakness significantly brakes BEIJING, Oct 24 (Reuters) – China’s economy rebounded at a faster-than-expected pace in the third quarter, but tight COVID-related restrictions, a protracted housing crisis …

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