Up To 30% Of The iPhone’s November Production At The Zhengzhou Plant Of Foxconn May Be Impacted By COVID Issues

A person with direct knowledge of the situation said on Monday that COVID-19 problems at Foxconn’s iPhone assembly plant in China’s Zhengzhou city could reduce the site’s November output of the Apple Inc. device by as much as 30%. The person, who asked to remain anonymous because the information was private, stated that Foxconn, formerly…

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Bankruptcy To Be Declared By Stellantis’ Chinese JV For Jeeps, The Auto Maker Says

Stellantis announced on Monday that the joint venture it has with Guangzhou Automobile Group, which produces Jeep vehicles in China, is declaring bankruptcy. This comes after a protracted decline for the oldest foreign auto brand in the biggest market in the world. The European automaker claimed in a statement that its results for the first…

With Businesses Combating Increased Costs, Factory Output In Japan Declines For The First Time In Four Months

As manufacturers struggled with rising raw material costs and the global economic slowdown, Japan’s factory output fell in September for the first time in four months. According to the government, this trend is expected to continue in October before picking up in November. Retail sales increased for a seventh consecutive month, which is a positive…

Twitter Moderation Rules Have Not Yet Changed, Says Musk

After successfully completing his $44 billion acquisition of the social media platform Twitter, billionaire Elon Musk has stated that there won’t be any immediate changes to the content moderation policies of the platform. “To be super clear, we have not yet made any changes to Twitter’s content moderation policies,” he tweeted. He had previously declared the…

Ukraine Questions The Acquisition Of Twitter Amid Shaky Relations With Musk

Elon Musk’s takeover of Twitter has drawn criticism from a senior Ukrainian official, whose relations with Kyiv have been strained ever since the billionaire suggested in early October that Ukraine should cede occupied land for peace. Musk, a self-described “free speech absolutist,” has stated a desire to shake up Twitter’s content moderation, and after completing…

Higher Provisions And Costs At BBVA Overshadow The Company’s Third-Quarter Profit

Higher loan-loss provisions and rising costs in some emerging markets overshadowed higher-than-expected third-quarter earnings at Spain’s BBVA, sending its shares lower. Higher lending income and profits in its main market, Mexico, helped the country’s second-largest lender by market value post a 31% increase in quarterly net profit to 1.84 billion euros ($1.83 billion), exceeding analysts’…

Apple’s Earnings Are Rising As The Economy Continues To Deteriorate

Apple Inc reported revenue and profit that exceeded Wall Street expectations, one of the few bright spots in a tech sector battered by inflationary spending cuts. The outlook for the holiday season was more bleak. While not providing specific figures, Apple stated that revenue growth would be less than 8% in the December quarter, but…

Chevron’s Quarterly Profit Of $11.2 Billion Exceeds Expectations

Chevron Corp reported its second-highest quarterly profit in history, exceeding analysts’ expectations, thanks to rising global demand for its oil and gas and increased output from its U.S. oilfields. The increase comes as oil companies report record profits as prices near record highs and supplies are tight due to output cuts during the COVID-19 pandemic,…

Elon Musk Visits Twitter HQ With An Approaching Deal Deadline

Elon Musk has posted a video of himself carrying a sink into Twitter’s headquarters, raising questions about the fate of his planned takeover. The billionaire has until Friday to complete the $44 billion purchase, which he announced months ago but then attempted to abandon. He agreed to proceed earlier this month, just weeks before a…