IPhone Maker Hon Hai Expects Flat 2023 as It Builds EV Push
Synopsis by Nikkei Asia Mar 15 23
TAIPEI -- Key iPhone assembler Foxconn on Wednesday said it plans to build electric vehicle batteries in Wisconsin and Ohio as the U.S. Inflation ReduRead full article 
Nikkei Asia: Foxconn says it will build EV batteries in Wisconsin and Ohio
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| Last Updated | Mar 17 23 |
| Total Articles | 3 |
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IPhone Maker Hon Hai Expects Flat 2023 as It Builds EV Push: Hon Hai Precision Industry Co. said it expects to multiply its sales of electric vehicle components ...
bloomberg.com/news/articles/2023-03-15/hon-hai-profit-misses-after-covid-disrupted-iphone-output
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IPhone Maker Hon Hai Expects Flat 2023 as It Builds EV Push: Hon Hai Precision Industry Co. said it expects to multiply its sales of electric vehicle components ...
bloomberg.com/news/articles/2023-03-15/hon-hai-profit-misses-after-covid-disrupted-iphone-output
US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
ft.com/content/0d098011-0ff5-4125-8cbb-5a5b281c9bd0
Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
China’s Solar Surge Is Making a Missing Power Data Problem Worse: The boom in renewable energy installations in China is exacerbating a problem measuring power ...
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Iran oil exports hit 6-year high as west prepares sanctions: Surge in crude sales to China exposes limits of US and EU attempts to rein in Islamic republic
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Quick Glance: Iran's Oil Exports Thrive Amid Rising Tensions
- Iran is exporting more oil than in the past six years, providing the economy with a $35 billion annual boost, as western countries consider tightening sanctions in response to the attack on Israel.
- The US and the EU are preparing new sanctions on the Islamic republic to deter conflict escalation with Israel, facing challenges due to Iran's successful circumvention of sanctions, especially with China being its primary customer.
- Iran has found ways to bypass sanctions, shielded from western pressure as its main oil exports go to China. Tensions have escalated since the Hamas attack on Israel, driving oil prices up by over 15%, while US efforts to sanction individual tankers carrying Iranian oil have had minimal impact so far.
- Mounting Republican pressure urges the Biden administration to take tougher action on Iran's oil sales, with criticism over perceived leniency on existing measures. Despite US strategic oil reserves being released to stabilize prices, concerns remain over the administration's stance on enforcing sanctions similar to the previous Trump administration.
Apple (AAPL) iPhone Shipments Fall 10% as Android Smartphones Rise: Apple Inc.’s iPhone shipments were down nearly 10% in the first quarter of the year ...
bloomberg.com/news/articles/2024-04-15/apple-s-iphone-shipments-plunge-10-as-android-rivals-rise
China Reiterates Need for Steady Yuan (CNY USD) as Dollar Strengthens: China reiterated the need to prevent one-sided moves in the yuan, as a resurgent dollar ...
bloomberg.com/news/articles/2024-04-18/china-reiterates-need-for-steady-yuan-amid-fragile-confidence
Nearly half of China's major cities are sinking, researchers say: Nearly half of China's major cities are suffering "moderate to severe" levels of subsidence ...
reuters.com/world/china/nearly-half-chinas-major-cities-are-sinking-researchers-say-2024-04-18/
China’s GDP jumps 5.3% in first quarter: Growth rate beats expectations as Beijing tries to steer manufacturing-led economic revival
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Paid articlePaid Apple removes WhatsApp, Threads from China app store on government order: Apple removed Meta Platforms' WhatsApp and Threads from its App Store in China on ...
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Quick Glance: Apple's Response to Chinese Government Directive on App Removal
- Apple responded to a directive from the Chinese government by removing WhatsApp and Threads from the App Store in China.
- The Cyberspace Administration of China cited security concerns as the reason for the app removal.
- However, the apps are still available for download in other app stores.
- Meta has not yet responded to reports of the removal.
IPhone 16 Pro: New feature will reportedly fix this annoying camera issue: Tired of lens flare? The next iPhone might fix that.
mashable.com/article/apple-iphone-16-camera-lens-flare-ghosting
IMF Warns Surge in U.S., China Debt Could Have ‘Profound’ Impact on Global Economy
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China’s Growing Plastics Dominance Is Squeezing Out Asian Rivals: China’s rapidly expanding petrochemicals industry is making life increasingly difficult for ...
bloomberg.com/news/articles/2024-04-16/china-s-growing-plastics-dominance-is-squeezing-out-asian-rivals
Paid articlePaid Million-Dollar Jobs for Star Analysts at Risk in China Research Pullback: Brokerage analysts in China are confronting a harsh new reality.
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Tesla to cut 10% of global workforce: About 14,000 jobs set to go as brutal price war and EV slowdown hit US automaker
ft.com/content/76985413-9fcd-4ce3-aaa0-b785539c116d
Paid articlePaidQuick Glance: Tesla to Cut 14,000 Jobs, Elon Musk Aims for Lean Brand
- Tesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles, in response to slowing demand and price pressure.
- Elon Musk announced the 'difficult decision' in a memo, mentioning that Tesla had experienced role and function duplications in certain areas due to rapid growth in recent years.
- The job cuts follow a difficult start to the year for the electric carmaker, citing production problems caused by unforeseen factors and a decline in global demand.
- Tesla recorded a gross profit margin of 17.6% in the fourth quarter, the lowest in over four years, attributed to repeated price cuts and increased competition in China.
China opens new air routes near Taiwanese islands: China's aviation regulator said on Friday it had opened new air routes to the Chinese cities of Xiamen and ...
reuters.com/world/asia-pacific/china-opens-new-air-routes-near-taiwanese-islands-2024-04-19/
Five Things You Need to Know to Start Your Day: Asia: Good morning. US stocks suffer longest losing streak since January. Russia and China seen dialing back ...
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Quick Glance: Joe Biden Calls for Significant Increase in Tariffs on Chinese Steel
- US President Joe Biden is pushing for an increase in tariffs on Chinese steel and aluminium to strengthen union support in the swing state of Pennsylvania.
- During a meeting with United Steelworkers union members in Pittsburgh, Biden calls on trade representative Katherine Tai to raise the tariffs from the current average of 7.5 percent.
- The main focus of the measures is to combat China's new export surge and the ongoing price pressure that makes it difficult for American steel companies to compete.
- The Biden administration's decision to increase tariffs is expected to impact recent efforts by Washington and Beijing to stabilize relations.
How to play Pokémon and other Game Boy games on your iPhone: Apple finally updated its App Store guidelines to allow global developers to host retro game ...
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China Extends Clean-Tech Dominance Over US Despite Biden's IRA Blueprint: There are fresh warning signs for American supply chains in solar ...
bloomberg.com/news/newsletters/2024-04-16/china-extends-clean-tech-dominance-over-us-despite-biden-s-ira-blueprint
China’s Rising Youth Unemployment Needs Attention, Official Says: China’s rising youth unemployment rate needs more scrutiny, a government official warned ...
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Apple might start making iPhones in Indonesia, CEO Tim Cook says: Apple's chief executive met with Indonesia's president as the company continues a manufacturing ...
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EU Gets Tougher With China After Being Played : Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European ...
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China’s Big Data Release to Show If Economy Rebounded
bloomberg.com/news/live-blog/2024-04-16/china-quarterly-gdp-key-data
Apple loses top phonemaker spot to Samsung as iPhone shipments drop, research company says
nbcnews.com/business/business-news/apple-loses-top-phonemaker-spot-samsung-iphone-shipments-drop-research-rcna147828
Quick Glance: iPhone sales plummet. Here's why
- Apple’s smartphone sales dropped by 10% last quarter, primarily due to a sharp decline in sales in China.
- Samsung had been the top smartphone manufacturer for 12 years, but Apple briefly took the top spot last year.
- The global smartphone market is showing signs of recovery with a 7.8% increase in smartphone shipments in the first quarter of 2024.
- Despite expectations for Apple and Samsung to maintain their market dominance, the rise of Huawei and other Chinese manufacturers like Xiaomi and OPPO/OnePlus may continue.
New LME Russia Metals Sanctions to Drive Sales to China: US and UK sanctions on Russian metals will cement China as Moscow’s buyer of last resort for key ...
bloomberg.com/news/articles/2024-04-15/new-sanctions-on-russia-to-drive-even-more-metals-sales-to-china
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The West says China makes too much. Its workers disagree: Migrants are caught in China's manufacturing battles with the West, as Beijing tries to save its ...
bbc.com/news/world-asia-china-68838219
China’s GDP grows 5.3% in the first quarter of 2024: China’s economy grew stronger than expected at the start of this year, partly thanks to robust factory ...
cnn.com/2024/04/15/business/china-q1-gdp-growth-intl-hnk/
Quick Glance: China's Economy Surprisingly Strong in Q1 2024
- China's economy experienced stronger growth than anticipated in the first quarter of this year, primarily due to the thriving high-tech manufacturing sector.
- In the initial quarter, industrial production saw a 6.1% increase compared to the previous year, driven by the flourishing high-tech industry. Notably, the manufacturing of 3D printing devices, electric vehicle charging stations, and electronic components surged by approximately 40% year-over-year.
- A recent official report highlighted a rise in China's manufacturing purchasing managers' index during the first quarter, marking the first increase in six months. Moreover, the Caixin/S&P Manufacturing PMI, a privately conducted survey, achieved its highest level in over a year as foreign demand grew.
- China's economy grew by 5.2% in 2023. Despite a significant improvement from the previous year, it still represented one of the country's weakest economic performances in more than thirty years.
What China Economists Are Watching to Gauge If Economic Rebound is Real: The world’s second-largest economy started the year on solid footing ...
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Japan’s China Reckoning: Why Tokyo Must Strengthen Its Ties to Democratic Allies: Why Tokyo must strengthen its ties to democratic allies.
foreignaffairs.com/china/japans-china-reckoning
Paid articlePaidQuick Glance: The Night Iran's Missile Show Rattled Israel
- In Tehran, 'Operation True Promise' launched an unprecedented aerial assault on Israel.
- The direct clash between powerful militaries showcased Israel's defense and Iran's display of power.
- Despite minor damages and injuries, the question remains whether this attack signifies further escalation or the start of a war.
- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
“They are cheating”: US President Biden wants to increase tariffs on Chinese steel
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China foreign ministry welcomes Blinken's visit to China as tensions simmer: China's foreign ministry on Thursday welcomed U.S. Secretary of State Antony ...
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Apple fixes iPhone bug that suggested Palestinian flag when some people typed ‘Jerusalem’
cnn.com/2024/04/17/tech/apple-bug-fix-jerusalem-palestinian-flag-emoji/
China’s better economic growth hides reasons to worry: The country’s leaders are too complacent about deflation
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Palestine flag shows on iPhone when typing Jerusalem, Israel supporters angry: A new iPhone update presents UK users typing 'Jerusalem' with a Palestinian flag ...
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Quick Glance: Controversy Surrounding Palestine Flag When Typing 'Jerusalem'
- iPhone users discover the Palestinian flag as a suggested emoji, sparking mixed reactions.
- The debate over Jerusalem as a capital city fuels discussions about the emoji suggestions.
- While some accuse Apple of antisemitism, others praise the Palestine flag positively.
- Apple confirms that the Palestine flag as an emoji is unintentional and will be changed with the next update.
Supply Chain Latest: Resilience of US Economy: The US economy seems to be weathering the recent spate of supply disruptions with few signs that worrisome ...
bloomberg.com/news/newsletters/2024-04-18/supply-chain-latest-resilience-of-us-economy
Five Things You Need to Know to Start Your Day: Asia: Good morning. Tensions simmer in the Middle East. US stocks fall below key threshold ...
bloomberg.com/news/newsletters/2024-04-15/five-things-you-need-to-know-to-start-your-day-asia
The shadow of war darkens on the global economy: Short-term performance has been surprisingly good but policymakers are walking on eggshells
ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750
China's Q1 GDP grows faster than expected on policy support: China's economy grew faster-than-expected in the first quarter, data showed on Tuesday ...
reut.rs/49Fq8Ho
Apple loses top phonemaker spot to Samsung as iPhone shipments drop, IDC says: Apple's smartphone shipments dropped about 10% in the first quarter of 2024 ...
reuters.com/technology/apple-loses-top-phonemaker-spot-samsung-iphone-shipments-drop-idc-says-2024-04-15/
China economy grows faster than expected in first quarter: Official figures also highlighted the challenges faced by the country's crisis-hit property sector.
bbc.com/news/business-68823396
Xi Jinping says China’s exports are helping ease global inflation: Chinese president warns German Chancellor Olaf Scholz against ‘rise of protectionism’
ft.com/content/7cc89622-66a7-4b1c-9b2e-138f121a4731
Why it’s China’s turn now: In the second half of the 20th century, scholars and macrohistorians like Alvin Toffler, Francis Fukuyama and Paul Kennedy developed ...
asiatimes.com/2024/04/why-its-chinas-turn-now/
Oil prices dip as demand concerns outweigh Middle East supply fears: Oil prices eased in early trade on Wednesday as worries about global demand due to weak ...
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Chinese spies target Dutch industries to strengthen military, intelligence agency says
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At Chinese trade fair, exporters despair their goods are 'as cheap as cabbage': Wu Huazhan's Chinese television factory used to impose minimum orders to manage ...
reuters.com/markets/commodities/chinese-trade-fair-exporters-despair-their-goods-are-as-cheap-cabbage-2024-04-16/
ASML Q1 bookings miss forecast, but China sales hold up: ASML , the largest supplier of equipment to computer chip makers, reported weaker than expected ...
reuters.com/technology/asml-reports-q1-earnings-13-billion-worse-than-expected-new-bookings-2024-04-17/
IMF tells Asian central banks not to follow Fed too closely: The International Monetary Fund urged Asian central banks on Thursday to focus on domestic inflation ...
reuters.com/markets/imf-tells-asian-central-banks-not-follow-fed-too-closely-2024-04-18/
And Scholz smiles painfully: The chancellor in China: three bitter insights: It's good that Chancellor Olaf Scholz traveled to China. Unfortunately ...
n-tv.de/politik/Der-Kanzler-in-China-Drei-bittere-Erkenntnisse-article24877932.html
Quick Glance: Scholz Organizes Crisis Diplomacy in China
- Scholz condemns Iran's attacks on Israel and plans crisis communication with G7 partners.
- China trip focusing on economy and geopolitical role, despite dilemma in relations.
- Business delegation accompanies Scholz, de-risking in other countries, export wave heading towards Germany.
- Scholz aims to influence China regarding Ukraine conflict and Iran crisis, despite existing dependencies.
ABB shares hit record high after Swiss engineering group's confident start to 2024
reuters.com/markets/europe/abb-beats-forecasts-with-first-quarter-earnings-2024-04-18/
China's Q1 GDP growth surpassed expectations, data shows: China's economy grew faster than it was forecast in the first quarter, data released on Tuesday ...
foxbusiness.com/economy/chinas-q1-gdp-growth-surpassed-expectations-data-shows
China Consumer Price Gains Fade With Industry Stuck in Deflation: China’s consumer prices barely increased from a year earlier last month and industrial prices ...
bloomberg.com/news/articles/2024-04-11/china-consumer-price-gains-fade-with-industry-stuck-in-deflation
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Rode's $90 MagSafe mount lets you attach pro lights and mics to your iPhone: Rode just released a MagSafe mount for attaching pro lights and microphones to ...
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China is moving towards full monetary independence: The country needs to inflate away its high debt burden
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China’s Credit Expansion Keeps Slowing as Loans Disappoint: China’s credit expansion continued to slow in March and banks extended less loans than expected ...
bloomberg.com/news/articles/2024-04-12/china-s-credit-expansion-beats-expectations-in-march
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iPhone's Emergency SOS feature: How to call for help: The iPhone has multiple ways to quickly and quietly call for help if you need it.
usatoday.com/videos/tech/problemsolved/2024/04/16/iphones-emergency-sos-feature-how-to-call-for-help/73346084007/
Gaming emulators are now on the App Store after Apple relaxed the rules: iPhone users can finally download emulators for iOS.
mashable.com/article/gaming-emulators-ios-app-store-apple-relaxed-rules
China is a tale of at least two economies: An optimist will look at China’s latest GDP figures released on Wednesday and argue they signal that the best of times ...
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Delta all-in-one retro game emulator now out for iPhone: "Delta" retro game emulator is now on the iPhone App Store. It can handle ROMs designed for Game ...
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‘Perfect landing spot.’ Apple plans to spend more in Vietnam as it looks beyond China
cnn.com/2024/04/18/tech/apple-vietnam-supply-chain-china/
China exports decline by 7.5%, far more than forecast: BEIJING -- China's exports in March decelerated sharply after four months of growth ...
asia.nikkei.com/Economy/Trade/China-exports-decline-by-7.5-far-more-than-forecast
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Humble China street vendor makes sacrifices to support academically gifted daughters who gain PhD and master’s degree
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Schindler reaffirms 2024 sales target, but warns of weakness in China: Lift and escalator maker Schindler reiterated its full-year revenue guidance for low ...
reuters.com/business/schindler-posts-q1-order-intake-slightly-above-expectations-2024-04-18/
China's iron ore imports rise as inventories build: Russell: (The opinions expressed here are those of the author, a columnist for Reuters.)
reuters.com/world/china/chinas-iron-ore-imports-rise-inventories-build-russell-2024-04-16/
ADB Says Developing Asia Set for Growth as China’s Economy Slows: Much of developing Asia outside of China is poised for expansion in the next two years as ...
bloomberg.com/news/articles/2024-04-11/adb-says-developing-asia-set-for-growth-as-china-s-economy-slows
Paid articlePaidQuick Glance: ADB Forecasts Developing Asia Growth at 4.9% in 2024, Risks Persist
- ADB raised its growth forecast for Developing Asia to 4.9% in 2024, highlighting ongoing challenges like escalating geopolitical tensions.
- China remains a concern for regional growth due to a prolonged property crisis and other issues.
- The ADB predicts regional inflation to decrease to 3.0% by 2025.
- Detailed GDP growth and inflation forecasts for various Asian countries were also provided.
China's Q1 GDP growth likely to slow, more stimulus on the cards: China's economy is expected to have slowed in the first quarter as a protracted property ...
reuters.com/world/china/chinas-q1-gdp-growth-likely-slow-more-stimulus-cards-2024-04-15/
China’s economic growth hits 5.3% | Africanews: The government announced Tuesday that the world's second-largest economy grew at a rate of 5 ...
africanews.com/2024/04/16/chinas-economic-growth-hits-53/
The German chancellor’s awkward meeting with China’s boss: It is time for Xi Jinping to accept that Germany isn’t America’s puppet
economist.com/europe/2024/04/18/the-german-chancellors-awkward-meeting-with-chinas-boss
China: economy needs skilled workers, academics are produced: For two decades, the Chinese authorities have been trying to create a dual training system based on ...
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No Substitute for Victory: America’s Competition With China Must Be Won, Not Managed
foreignaffairs.com/united-states/no-substitute-victory-pottinger-gallagher
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China's fiscal stimulus is losing its effectiveness, S&P says: China's fiscal stimulus is losing its effectiveness and is more of a strategy to buy time for ...
cnbc.com/2024/04/19/chinas-fiscal-stimulus-is-losing-its-effectiveness-sp-says.html
Apple Warns Users in 92 Countries About 'Mercenary Spyware' Threat: On Wednesday, the company sent out an alert to select iPhone users about detecting a ...
pcmag.com/news/apple-warns-users-in-92-countries-about-mercenary-spyware-threat
LVMH shares rise after luxury giant's Q1 sales offer element of reassurance: LVMH shares rose on Wednesday, after first quarter sales figures from the world's ...
reuters.com/business/retail-consumer/lvmh-shares-rise-after-luxury-giants-q1-sales-offer-element-reassurance-2024-04-17/
How to mirror iPhone to TV: Throw it on the big screen!
mashable.com/article/how-to-mirror-iphone-to-tv
Is China growing tired of Russia’s war in Ukraine?: There are signs that Beijing may be getting cold feet about its deepening entanglement.
aljazeera.com/opinions/2024/4/17/is-china-growing-tired-of-russias-war-in-ukraine
Gold is back — and it has a message for us: The precious metal’s surge may herald a whole new world
ft.com/content/bdcb7d8a-e958-4910-9d1b-a6a519812503
House panel says China subsidizes fentanyl production to fuel crisis in the U.S.: A report released Tuesday by a House select committee says China is directly ...
pbs.org/newshour/politics/house-panel-says-china-subsidizes-fentanyl-production-to-fuel-crisis-in-the-u-s
Quick Glance: China's Subsidization of Fentanyl Production Intensifying Crisis in the U.S.
- A report from a special House committee states that China is fueling the Fentanyl crisis in the U.S. directly by subsidizing the manufacturing of materials used by traffickers outside the country to produce the drug.
- The committee found that the Chinese government provides tax rebates for the production of specific Fentanyl precursors and other synthetic drugs as long as they are sold outside of China.
- The report highlights that China not only subsidizes the manufacturing of precursor chemicals but also thwarts investigations into illegal manufacturers by warning the targets when formal requests for assistance are made by U.S. law enforcement.
- Former Attorney General William Barr recommended that the U.S. should leverage its trade and economic power to push for stronger enforcement from Chinese authorities, and victims should take civil actions against companies and individuals involved in distributing the precursors and synthetic drugs.
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