HONG KONG (AP) — Workers who assemble Apple Inc.’s new iPhone have walked out of their factory in northern China to avoid COVID-19 curbs after some coworkers were quarantined following a virus outbreak. Videos circulating on Chinese social media platforms showed people said to be Foxconn workers climbing over fences and walking down a road…
TOKYO (Reuters) – Japan’s Panasonic Holdings Corp posted on Monday an 11% drop in second-quarter operating profit, but performed better than analysts’ estimates. It reported 86.1 billion yen ($582.54 million) in operating profit for the three months to end-September, versus an average 81.6 billion yen profit estimated by nine analysts, according to Refinitiv data. A…
By Tetsushi Kajimoto TOKYO (Reuters) – Japan will announce on Monday that it spent what was likely a record amount on currency intervention this month to prop up the yen, with market players keen for clues about how much further the authorities might step in to ease the yen’s sharp fall. A compilation of estimates…
BEIJING (AP) — Chinese manufacturing weakened in October, an official survey showed Monday, adding to downward pressure on the economy as the ruling Communist Party tries to reverse a slowdown. A monthly purchasing managers’ index declined to 49.2 from September’s 50.1 on a 100-point scale where numbers below 50 indicate activity contracting, according to the…
By Lewis Jackson SYDNEY (Reuters) – Hundreds of Apple workers in Australia are set to strike again after almost two-thirds of employees rejected a pay and benefits deal, the latest escalation of a fight that has seen weeks of walkouts at stores around the country. Results released on Monday show 68% of Apple workers rejected…
BANGKOK (AP) — Shares have advanced in Asia despite a retreat on Wall Street. Hong Kong jumped more than 3% and most other major indexes saw strong gains. A private survey of manufacturers showed some improvement in the business outlook in China, helping to counter renewed concerns over COVID-19 outbreaks in some cities. Investors also…
By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp is expected to report a small quarterly profit increase on Tuesday, with soaring costs of parts and materials nearly offsetting the benefits from the plunging Japanese yen and a rebound in production. The world’s biggest automaker by sales said last week its global production rebounded by…
By Yimou Lee TAIPEI (Reuters) – Apple supplier Foxconn’s COVID-19 woes at its vast iPhone manufacturing facility in China’s Zhengzhou city could slash the site’s November iPhone shipments by up to 30%, a source with direct knowledge of the matter said. The source, who declined to be identified as the information was private, said Foxconn…
BEIJING (Reuters) -China’s factory activity unexpectedly fell in October, an official survey showed on Monday, weighed by softening global demand and strict COVID-19 restrictions, which hit production. The official manufacturing purchasing managers’ index (PMI) stood at 49.2 from a 50.1 reading in September, the National Bureau of Statistics (NBS) said. Economists in a Reuters poll…
SINGAPORE (Reuters) – Chicago wheat futures rose more than 5% on Monday as Russia’s withdrawal from a Black Sea export agreement raised concerns over global supplies. The most-active wheat contract on the Chicago Board of Trade (CBOT) jumped 5.8% to $8.77-1/2 a bushel as of 0019 GMT, after earlier hitting a high of $8.93 a…
