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iPhone maker Foxconn entices angry workers in China to return as Apple faces supply crunch

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  KEY POINTS Foxconn is offering big bonuses to entice workers back to its Zhengzhou, China factory after labor unrest. Evercore ISI analysts said that iPhone demand could be affected by 5 million to 8 million units in the December quarter as a result of the disruptions. Foxconn said on Tuesday that it will give a 500 yuan ($70) payment to returning workers, a 3,000 yuan bonus for those who stay more than 30 days and a 6,000 yuan January bonus. In this article 2317-TW UNCH AAPL -0.03 (-0.02%) Follow your favorite stocks CREATE FREE ACCOUNT Foxconn workers at Taiwanese firm’s Zhengzhou, China factory, walked out over a pay dispute with the company. The Zhengzhou factory is estimated to account for more than 70% of Apple’s global assembly of iPhones. Jakub Porzycki | Nurphoto | Getty Images Foxconn  is offering big bonuses to entice workers back to its Zhengzhou, China factory after labor unrest over a pay dispute saw employees walk out, threatening to leave  Apple  with a shortfall of i

Tesla still dominant, but its US market share is eroding as cheaper EVs arrive

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  KEY POINTS Tesla is still the top-selling electric vehicle brand in the U.S. but its dominance is eroding as more affordable models proliferate. S&P Global Mobility reports Tesla’s market share of new registered electric vehicles in the U.S. stood at 65% through the third quarter, down from 71% last year. The firm forecasts Tesla’s market share will decline to less than 20% by 2025. In this article SPGI TSLA Follow your favorite stocks CREATE FREE ACCOUNT A Tesla Model 3 vehicle is on display at the Tesla auto store on September 22, 2022 in Santa Monica, California. Tesla is recalling over 1 million vehicles in the U.S. because the windows can pinch a persons fingers while being rolled up.  Allison Dinner | Getty Images Tesla  is still the top-selling electric vehicle brand in the U.S., but its dominance is eroding as rivals offer a growing number of more affordable models, according to a report Tuesday by S&P Global Mobility. The data firm found that Tesla’s market share of

BlockFi lawyer tells bankruptcy court that the priority is to ‘maximize client recoveries’

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  KEY POINTS BlockFi’s first bankruptcy hearing in New Jersey kicked off on Tuesday, with lawyers emphasizing the crypto lender’s strong corporate controls and customer prioritization. The company loaned over $670 million to Alameda Research, Sam Bankman-Fried’s crypto hedge fund Lawyers from Kirkland and Ellis told the court that a central objective was to “maximize client recoveries.” In this photo illustration, the BlockFi logo seen displayed on a smartphone. Rafael Henrique | Sopa Images | Lightrocket | Getty Images BlockFi plans to reopen withdrawals as part of an effort to “maximize client recoveries,” the crypto lender’s lawyers said at a court hearing Tuesday, a day after the firm  filed for Chapter 11 bankruptcy protection . BlockFi’s lawyers at that hearing expressed optimism that the firm is in good position to restructure and salvage the business through the bankruptcy process. “We want to make sure we get people back as much of their value as quick as we can,” said Josh Su

Twitter stops policing Covid-19 misinformation under CEO Elon Musk and reportedly restores 62,000 suspended accounts

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  KEY POINTS In a recent update to its website, Twitter said that effective Nov. 23, it is no longer enforcing its Covid-19 misleading information policy. Musk has committed to free speech on Twitter, which might partially explain why the change was enacted. But online safety experts have argued his approach has led to an increase in hate speech, harassment and misinformation on the platform. In this article TWTR Follow your favorite stocks CREATE FREE ACCOUNT Elon Musk’s Twitter account displayed on a mobile with Elon Musk in the background are seen in this illustration. In Brussels - Belgium on 19 November 2022.  Jonathan Raa | Nurphoto | Getty Images In a recent update to its  website,  Twitter said that effective Nov. 23, it is no longer enforcing its Covid-19 misleading information policy. It means the company will no longer prioritize removing or tagging misleading health information related to  Covid-19 . RELATED INVESTING NEWS Tesla’s stock is suffering from Musk’s Twitter take

Tech's reality check: How the industry lost $7.4 trillion in one year

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  KEY POINTS The Nasdaq has tumbled sharply from its all-time high a year ago, as layoffs, inflation and rising interest rates roil the tech industry. Companies are slowing spending and responding to a weakening economy after seeing their stock prices tank. "You just don't know what it's going to be like going forward," Jeff Grabow, venture capital leader at EY, told CNBC. In this article .SPACDEAL GOOGL META .SPX .NDX .IXIC MSFT RIVN TWTR Follow your favorite stocks CREATE FREE ACCOUNT Pedestrians walk past the NASDAQ MarketSite in New York's Times Square. Eric Thayer | Reuters It seems like an eternity ago, but it's just been a year. At this time in 2021, the  Nasdaq Composite  had just peaked, doubling since the early days of the pandemic.  Rivian's  blockbuster IPO was the latest in a record year for new issues. Hiring was booming and tech employees were frolicking in the high value of their stock options. RELATED INVESTING NEWS Buy this Big Tech stock