ASIA

China’s Zhengzhou, home to world’s largest iPhone factory, ends Covid lockdown

China’s Zhengzhou, home to world’s largest iPhone factory, ends Covid lockdown hong kong CNN Business — The central Chinese city of Zhengzhou, home to the world’s largest iPhone factory, has lifted a five-day Covid lockdown, in a move that analysts have called a much-needed relief for Apple and its main supplier Foxconn. Zhengzhou is the …

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HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC Deal comes amid pressure from Chinese shareholder Analysts hail ‘sensitive’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 …

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Asian shares rise except Japan as markets eye China protests

Asian shares rise except Japan as markets eye China protests TOKYO (AP) — Asian shares were mostly higher Tuesday as market jitters declined over protests in China set off by growing public anger over COVID-19 restrictions. Benchmarks rose in early trading in Australia, South Korea and China, while shares fell in Japan. Oil prices fall. …

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Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Crypto lender BlockFi files for bankruptcy, cites FTX exposure Filing follows weeks after FTX collapse FTX listed as BlockFi’s No.2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest industry casualty after the firm was hurt …

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Exclusive: Tesla reads revamped Model 3 with project ‘Highland’ -sources

Exclusive: Tesla reads revamped Model 3 with project ‘Highland’ -sources Nov 28 (Reuters) – Tesla (TSLA.O) is developing a revamped version of Model 3, according to four people with knowledge of the effort, as the top EV maker aims to cut production costs and boost the appeal of the five-year -old electric sedan. One focus …

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China markets tank as protests erupt over Covid lockdowns

China markets tank as protests erupt over Covid lockdowns hong kong CNN Business — China’s major stock indices and its currency have opened sharply lower Monday, as widespread protests against the country’s stringent Covid-19 restrictions over the weekend roiled investor sentiment. Hong Kong’s Hang Seng (HSI) Index fell as much as 4.2% in early trading. …

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US bans Huawei, ZTE equipment sales amid Chinese spying fears

US bans Huawei, ZTE equipment sales amid Chinese spying fears The Biden administration has banned approvals of new telecommunications equipment from China’s Huawei Technologies and ZTE because they pose “an unacceptable risk” to US national security. The US Federal Communications Commission said on Friday it had adopted the final rules, which also bar the sale …

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Apple has a huge problem with its supplier’s iPhone factory in China

Apple has a huge problem with its supplier’s iPhone factory in China hong kong CNN Business — A violent workers’ revolt at the world’s largest iPhone factory this week in central China is further scrambling Apple’s strained supply and highlighting how the country’s stringent zero-Covid policy is hurting global technology firms. The troubles started last …

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Kris Wu: Chinese-Canadian pop star sentenced to 13 years of prison for rape in China

Kris Wu: Chinese-Canadian pop star sentenced to 13 years of prison for rape in China hong kong CNN — A Chinese court in Beijing sentenced Chinese-Canadian pop star Kris Wu, also known as Wu Yifan, to 13 years in jail after finding him guilty of sexual offences, including rape, the court said in a post …

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