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Market news: Air France suspends flights to and from Madagascar for two days.On October 12, Madagascar President Andry Rajoelina issued a statement declaring "an attempt to seize power on the territory of the Republic, a complete violation of the Constitution and democratic principles." On October 11, some soldiers joined large-scale protests. Some of the rebellious soldiers declared they would take control of all military forces. That same day, Prime Minister Zaffi Sambo called on the government to engage in dialogue with all parties and strengthen unity. Beginning on September 25, large-scale protests erupted in Madagascar over prolonged water and power shortages. On September 29, Rajoelina dissolved the government and dismissed Prime Minister Christian Ntsayi. On October 6, Rajoelina appointed Army General Ruffin Fortina Zaffi Sambo as Prime Minister.U.S. Vice President Vance: In order to retain important benefits, some federal employees have to be laid off.On October 12, Afghan government spokesman Zabiullah Mujahid denied media reports that Afghanistan and the United States had reached an agreement on Bagram Air Base at a press conference in Kabul, the capital. He stated that Afghans would not hand over any of their land to any other country. Mujahid pointed out that the Afghan government is willing to engage in political and economic exchanges with all countries, including the United States, and hopes that "the United States will reopen its embassy in Kabul and initiate active engagement through diplomatic channels, rather than focusing solely on Bagram Air Base."On October 12, Bama Tea Co., Ltd. updated its post-hearing information package, which means that the companys IPO on the Hong Kong Stock Exchange has passed the hearing. The sponsors are Huatai International, ABC International, and Tianfeng International.

Foxconn's Founder Asked China to Remove COVID Restrictions - WSJ

Charlie Brooks

Dec 09, 2022 11:57

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The Wall Street Journal said that Terry Gou, the creator of Apple supplier Foxconn, had warned China that its zero-COVID policy would jeopardize its position as the second-largest economy in the global supply chain.


The appeal, sent by Gou in a letter more than a month ago, played a crucial role in pushing China's government to immediately reopen the economy and drop its zero-tolerance COVID-19 policy, according to a report published on Thursday citing sources with knowledge of the issue.


The office of Gou issued a statement "vehemently disputing" the article's claims. The largest iPhone producer, Foxconn, declined to comment, and China's State Council Information Office could not be reached immediately for comment.


Gou left Foxconn in 2019 and no longer maintains an official position inside the company, although he remains influential.


The Zhengzhou factory of the Taiwanese corporation, which had a month-long disruption in November, has eased its "closed-loop" management restrictions on Thursday.


The Zhengzhou factory has been struggling with significant COVID restrictions, which have led to worker dissatisfaction over working conditions and a 11.4% year-over-year decline in November revenue.


Some Wall Street analysts reduced their iPhone shipping forecasts for the crucial Christmas quarter as a result of disruptions at the iPhone's primary production facility.


The newspaper reported that Chinese health officials and government advisors jumped on Gou's letter to make the point that the government needed to accelerate its efforts to eliminate its stringent COVID-19 regulations.

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