BACT

Foxconn expects COVID-hit China plant back to full output in late Dec-early Jan -source

TAIPEI, Dec 5 (Reuters) – Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January, a Foxconn source said on Monday, after worker unrest disrupted the world’s biggest iPhone factory. The Zhengzhou plant has been grappling with strict COVID-19 restrictions that have fueled discontent …

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Saudi Exchange launches market-making framework to boost liquidity

DUBAI, Dec 4 (Reuters) – Saudi Arabia’s stock exchange said on Sunday it was launching a market-making framework for its stock and derivatives markets to help ensure liquidity and raise price-determination efficiency. Entities must be exchange members, derivatives exchange members or their clients to be market makers. “Market Makers have to ensure the availability of …

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IPO market nearly paused, but exchange leaders expect 2023 boost

NEW YORK, Dec 1 (Reuters) – A global slowdown in initial public offerings due to heightened market volatility and a regulatory cloud over new listings from China has created pent up demand that could lead to an IPO boom in 2023, industry executives told the Reuters NEXT conference. Global IPOs hit record-high levels in 2021, …

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Piper Sandler cuts estimates for Apple’s Dec quarter as China worries mount

Dec 1 (Reuters) – Analysts at Piper Sandler on Thursday cut their revenue and iPhone sales estimates for Apple Inc’s (AAPL.O) December quarter, as Beijing’s strict lockdowns crimp production at the world’s biggest iPhone factory in Zhengzhou, China. The brokerage now expects $119 billon in revenue for the current quarter from an earlier projection of …

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US crypto broker Genesis says it is working to avoid bankruptcy filing

Nov 29 (Reuters) – US cryptocurrency brokerage Genesis said it was seeking to avoid bankruptcy after Bloomberg news reported on Tuesday that creditors to the firm are organizing with restructuring lawyers to prevent insolvency. Citing people with knowledge of the situation, the report said law firms Proskauer Rose and Kirkland & Ellis are being consulted …

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India stocks to rise 9% by end-2023 despite slowing economy – Reuters poll

BENGALURU, Nov 30 (Reuters) – India’s stock market, which rally to a record high this week, is forecast to rise another 9% by the end of 2023 despite widespread expectations of a gradual slowdown in the economy, according to market experts polled by Reuters. The benchmark BSE Sensex Index (.BSESN) touched an all-time record high …

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Asia shares, oil prices rally as China speculation swirls

https://tmsnrt.rs/2zpUAr4 China property shares rally on policy support Euro eyeing 5-mth high, dollar near 3-mth low on yen Oil prices rebound on China hopes, talk of output cuts SYDNEY, Nov 29 (Reuters) – Asian shares rally on Tuesday as Beijing’s latest move to support developers boosted the property sector and rumours swirled that recent public …

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Disney CEO Iger makes profitable streaming a priority

Nov 28 (Reuters) – Walt Disney Co (DIS.N) Chief Executive Bob Iger said on Monday one of his top priorities is to make the company’s streaming business profitable. Iger is responsible for Disney’s all-in embrace of streaming, and the launch of its marquee service, Disney+, but he acknowledged the measurement of success has changed. Wall …

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Google, iHeartMedia settle charges of deceptive Pixel 4 ads with FTC, US states

WASHINGTON, Nov 28 (Reuters) – The US Federal Trade Commission and seven US states reached a settlement with Alphabet Inc’s (GOOGL.O) Google and iHeartMedia Inc (IHRT.O) over of deceptive ads promoting Google’s Pixel 4 smartphone, the FTC said. the FTC said in a statementon Monday that the companies aired nearly 29,000 deceptive endorsements by radio …

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Twitter CEO Musk says user signups at all-time high, touts features of “everything app”

Nov 27 (Reuters) – Twitter Inc Chief Executive Elon Musk says new user signups to the social media platform are at an “all-time high”, as he struggles with a mass exodus of advertisers and users fleeing to other platforms over concerns about verification and hate speech. Signups were averaging over two million per day in …

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