(Reuters) – Apple supplier Foxconn is handing bonuses to workers at its Zhengzhou plant in central China, Chinese government-backed media reported, as it works to quell employee discontent at the site over COVID curbs. Daily bonuses for employees, who are part of a Foxconn unit responsible for making electronics including smartphones at the site, have…
BEIJING (Reuters) – China’s factory activity weakened in October as protracted COVID-19 restrictions disrupted production and subdued demand, a private-sector survey showed on Tuesday, suggesting a weaker economic recovery in the fourth quarter. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) stood at 49.2 in October, up from 48.1 in September and slightly above analysts’…
(Reuters) – Apple supplier Foxconn has increased wages and is handing bonuses to workers at its Zhengzhou plant in central China, Chinese government-backed media reported, as it works to quell employee discontent at the site over COVID curbs. Daily wages for employees, who are part of a Foxconn unit responsible for making electronics including smartphones…
By Shaloo Shrivastava BENGALURU (Reuters) – Malaysia’s central bank will tighten its policy rate by a quarter point for the fourth time in a row on Nov. 3 as upside risks to inflation persist and to support the weakening currency, a Reuters poll showed. Bank Negara Malaysia (BNM) started raising rates in May even though…
By Julie Ingwersen CHICAGO (Reuters) -U.S. wheat futures jumped 6%, hitting a two-week high, and corn rose 1.6% on Monday as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies. Soybeans followed the trend, with the most-active January contract setting a one-month top. Chicago Board of Trade December wheat settled up…
(Reuters) -Asia-focussed insurer AIA Group Ltd reported a 1% rise in quarterly new business value on Tuesday as sales recovered from pandemic lows in its main markets of China and Hong Kong. AIA’s mainland China business posted a 6% rise in value of new business (VONB) during the quarter, on a constant exchange rates basis….
(Reuters) -Shares of TuSimple Holdings Inc nearly halved on Monday after the self-driving truck startup said it had removed Chief Executive Xiaodi Hou in connection with the company’s ties to a China-backed firm. TuSimple said in a securities filing that an investigation by its board showed some of its employees spent paid hours last year…
By Andrea Shalal WASHINGTON (Reuters) – The White House will host officials from 37 countries and 13 global companies in Washington this week to address the growing threat of ransomware and other cyber crime, including the illicit use of cryptocurrencies, a senior U.S. official said. The in-person meeting follows last year’s virtual inaugural meeting of…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar gained across the board on Monday, regaining some of the luster it lost earlier in the month, bolstered by expectations of another supersized rate increase at this week’s Federal Reserve monetary policy meeting. That said, the dollar’s gains could be limited if the Fed signals on…
By Tatiana Bautzer, Paula Laier and Rodrigo Campos SAO PAULO/NEW YORK (Reuters) -Brazil’s currency rallied and the country’s main stock index also rose in a volatile session on Monday, a day after leftist Luiz Inacio Lula da Silva won the country’s presidential election, with investors bracing for a choppy week ahead. The Brazilian real gained…
