TAIPEI (Reuters) – More than 20,000 employees, most of them were new hires not yet working on the production line, have left Apple supplier Foxconn’s Zhengzhou plant in China, a Foxconn source familiar with the matter told Reuters on Friday. The person said the departure was set to complicate the company’s previous target to resume…
By Sonali Paul MELBOURNE (Reuters) – Oil rose in early trade on Friday, trimming some of the week’s losses which have been driven by worries about Chinese demand and expectations a high price cap planned by the Group of Seven (G7) nations on Russian oil will keep supply flowing. Brent crude futures inched up 13…
By Jamie McGeever ORLANDO, Fla. (Reuters) – As Wall Street reopens after the Thanksgiving holiday, investors are looking for one final push to ensure 2022 ends up being merely grim rather than the bloodbath most had feared. Since hitting a two-year low in October, the S&P 500 has rebounded 15% even though interest rates, Fed…
(Changes day in first paragraph to Friday instead of Thursday) MADRID (Reuters) -An amended windfall tax proposal for Spanish banks and large energy companies cleared its first hurdle in parliament in the early hours of Friday with the backing of the leftist ruling coalition and several regional parties. Some parties in Spain’s northern regions, where…
By Akriti Sharma (Reuters) -Adidas AG on Thursday said it has launched an investigation into allegations of inappropriate behavior by Kanye West, after the German sporting goods maker last month ended its partnership with the rapper and fashion designer. Adidas said it initiated the probe after receiving an anonymous letter making several allegations against the…
SAN FRANCISCO (AP) — New Twitter owner Elon Musk said Thursday that he is granting “amnesty” for suspended accounts, which online safety experts predict will spur a rise in harassment, hate speech and misinformation. The billionaire’s announcement came after he asked in a poll posted to his timeline to vote on reinstatements for accounts that…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets are looking to round off the week on a positive note on Friday, with regional stocks on course to chalk up their fourth straight weekly rise. The relative calm may not last, however, if recession risks…
PARIS (Reuters) – A planned French windfall tax on energy companies’ profits during Europe’s current energy crisis would likely cost debt-laden nuclear giant EDF around 5 billion euros ($5.20 billion) next year, newspaper Les Echos reported on Thursday. The levy, which is part of the 2023 fiscal bill parliament is currently deliberating, would make EDF…
ZURICH (Reuters) -Credit Suisse has made 889 million new shares available to existing investors at 2.52 Swiss francs ($2.67) per share, the bank said on Thursday, confirming the final terms of its 4 billion franc capital hike. The capital increase, which was approved by investors on Wednesday, is intended to fund the embattled bank’s turnaround…
FRANKFURT, Germany (AP) — Western governments have agreed to cap the price of Russia’s oil exports in an attempt to limit the fossil fuel earnings that support Moscow’s budget, its military and the invasion of Ukraine. The cap is set to take effect Monday, the same day the European Union will impose a boycott on…
