China
Apple will reportedly move some iPad capacity to Vietnam after China lockdowns
People walk past an apple store in Wangfujing with iPhone 13 series advertisement on a big screen. Sheldon Cooper | LightRocket | Getty Images Apple is moving some of its iPad production to Vietnam from China after supply chain disruptions stemming from coronavirus lockdowns have contributed to product and parts shortages, Nikkei Asia said Wednesday. […]
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Chinese automaker Nio reports May EV sales constrained by Covid as rivals XPeng and Li Auto gain ground
Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022. Nio Chinese electric vehicle maker Nio delivered more than 7,000 vehicles in May, up 4.7% from a year ago but well below its current production capacity, as Covid-related disruptions continued to limit the company’s manufacturing and its ability to […]
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These charts show how Russia’s invasion of Ukraine has changed global oil flows
European Union leaders reached an agreement this week to ban the majority of Russian crude oil and petroleum product imports, but nations were already shunning the country’s oil, altering global flows for the commodity that powers the world. Russian oil exports had already been hurt by some EU members acting preemptively in anticipation of potential […]
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Apple’s iPhone assembler says supply chain outlook better than feared, despite lockdowns
Customers walk past a digital display of the new green color Apple iPhone 13 pro inside the Apple Store on 5th Avenue in Manhattan, in New York, March 18, 2022. Mike Segar | Reuters Foxconn, a major supplier of Apple’s iPhones, said the impact of China’s Covid lockdowns on its operations wasn’t as bad as […]
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Russia hits back at the EU’s partial oil embargo, says it will find other importers for its crude
The EU’s partial embargo covers Russian oil brought into the bloc by sea, with an exemption carved out for imports delivered by pipeline following opposition from Hungary. Attila Kisbenedek | Afp | Getty Images Moscow pledged to find other importers for its oil shortly after the world’s largest trading bloc agreed to impose a partial […]
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China’s factory activity falls at slower pace as Covid curbs ease
An employee operates a spinning machine at a textile factory on May 26, 2022 in China. China’s factory activity contracted at a slower pace in May as Covid-19 curbs in major manufacturing hubs were relaxed, but movement controls still depressed domestic demand, restrained production and weighed on the economy in the second quarter. Zhu Haipeng […]
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Stocks making the biggest moves premarket: Big Lots, Hibbett, Pinduoduo and others
Check out the companies making headlines before the bell: Big Lots (BIG) – The discount retailer’s shares tumbled 21.2% in the premarket after missing Wall Street forecasts for quarterly earnings and revenue. The company also reported a larger-than-expected slump in comparable-store sales and issued cautious full-year guidance, saying inflationary pressures reduce discretionary spending. Hibbett (HIBB) […]
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‘Hypocrisy,’ ‘naivety’ and ‘greed’: Europe chided for failing to stop Putin’s war
DAVOS, Switzerland — The European Union failed to counter Russian President Vladimir Putin and needs to now strike flexible alliances across the world and search for new friends, current and former leaders told CNBC on a panel at the World Economic Forum. “We are too Euro-centric on this crisis, in the sense we think this […]
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Thousands of people are leaving Hong Kong — and now it’s clear where they’re going
They stuck it out during the political protests of 2019. Then they lasted through nearly two years of pandemic. But this year, they say they’ve had enough. Residents of Hong Kong are leaving the city in droves in 2022 — not because they want to, several told CNBC, but because Covid restrictions and what they see […]
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Blinken says China is a serious long-term challenge but the U.S. does not want a new Cold War
WASHINGTON — Secretary of State Antony Blinken on Thursday described China as the “most serious long-term challenge to the international order,” even as the world grapples with Russia’s war in Ukraine. “China is the only country with both the intent to reshape the international order and, increasingly, the economic, diplomatic, military and technological power to […]
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