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Market sources indicate that airlines including Etihad Airways and Saudi Arabian Airlines are in talks with aircraft manufacturers to secure aircraft deliveries as early as 2029 and 2030.Market news: As Air India considers delaying aircraft deliveries, Gulf airlines are seeking to take over Boeing and Airbus aircraft originally reserved for the company.Bank of America Global Research has raised its year-end 2026 target for the Stoxx Europe 600 index from 590 to 630.On July 3, the Peoples Bank of China and two other departments released a notice soliciting public opinions on the "Draft Measures for the Administration of Cybersecurity in the Financial Industry." Financial institutions should, in accordance with the requirements of the national cybersecurity classification and protection system, reasonably determine the security protection level of their networks, fulfill their classification and filing obligations, conduct cybersecurity level assessments on a regular basis, and promptly rectify any risks identified in the assessments. Financial institutions should, in accordance with laws, administrative regulations, and relevant provisions of the national and State Council financial management departments, regulate their personal information processing activities and ensure the security of personal information. Financial institutions are encouraged to use the national network identity authentication public service to conduct user identity verification.On July 3, the Peoples Bank of China and two other departments released a notice soliciting public opinions on the "Draft Measures for the Administration of Cybersecurity in the Financial Industry." The draft aims to prevent cybersecurity risks from evolving into financial risks. In the process of digital transformation of finance, financial services are increasingly reliant on networks, and financial networks are interconnected and closely intertwined. The high complexity of network operation and maintenance, the wide scope of supply chain security, the frequent occurrence of organized high-intensity cyberattacks, and the close integration of emerging technologies with business applications all contribute to the potential threats to financial stability and security. The formulation of the "Measures" broadly clarifies the bottom line for cybersecurity compliance in the financial industry and the legal responsibilities for crossing that line. This is a necessary measure by the State Councils financial regulatory departments to ensure the continued stable operation of the financial system and help prevent cybersecurity risks from evolving into financial risks.

Apple Supplier Foxconn Increases COVID-19 Employee Compensation

Aria Thomas

Nov 01, 2022 14:45

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Foxconn, an Apple (NASDAQ:AAPL) supplier, reportedly increased compensation and awarded bonuses to employees at its Zhengzhou factory in central China in an effort to quell employee outrage about COVID limitations.


The Henan Daily quoted an unnamed head of the company's integrated digital product business group unit as saying on Monday that daily wages for employees of a Foxconn unit responsible for manufacturing electronics, such as smartphones, at the site have been increased to 100 yuan ($13.70) between October 26 and November 11.


According to the source, the company, formerly known as Hon Hai Precision Industry Co Ltd, is also paying a daily bonus of 50 yuan to all employees at the site who have maintained regular attendance since October 19 and adhered to virus prevention procedures.


Foxconn did not respond to a request for comment on the Henan Daily article immediately. The Henan Daily is the provincial newspaper of Henan, whose capital is Zhengzhou.


Foxconn is the largest iPhone producer for Apple, accounting for 70 percent of global iPhone shipments. It employs over 200,000 people at its Zhengzhou facility, where it manufactures the majority of its phones, and has additional production sites in India and southern China.


Several employees departed the Zhengzhou site over the weekend because they were dissatisfied with the safeguards taken to prevent the spread of COVID-19.


Reuters reported on Monday, citing a source, that November iPhone production at the facility may reduce by as much as 30 percent and that Foxconn is attempting to make up for the shortfall at another factory in Shenzhen city.