Apple is shifting more of its production out of China as the tech giant works to diversify its supply chain and it might happen faster than anticipated. Apple’s manufacturing partner Foxconn plans to build a $700 million plant in India, according to Bloomberg News. The plant will be one of Foxconn’s biggest yet in the […]
Ford Motor Co. said on Tuesday that it had stopped production and shipments of its F-150 Lightning electric pickup after discovering a potential battery issue during pre-delivery checks. “We are not aware of any incidences of this issue in the field,” Ford spokesperson Emma Bergg said in an email. She said the production stop was […]
Apple is taking another step toward its ‘out of China’ production goal, according to Japanese newspaper Nikkei Asia. For the first time ever next year, Apple will begin producing some of its MacBook computers in Vietnam. Its assembly partner—Foxconn—could begin assembling devices there as soon as May.
Apple needs a place to make its phones, cheaply, and quickly. A key part of the company’s pursuit of profit. For a long time, China has been that place. But now, China’s strong COVID restrictions are hurting Apple’s profits. Anonymous sources say Apple is now ramping up plans to leave the country.
The United States oil production will maintain a low growth rate in 2023, an industry leader said. Ezra Yacob, president of EOG Resources Inc., told analysts his prediction during a third-quarter earnings call. The number of oil rigs, frac spreads, and workers indicated a low growth rate in the near future, he said. Also, fewer […]
OPEC+ member states lined up on Sunday to endorse a steep production cut agreed upon earlier this month following accusations from top Biden administration officials against the Saudi government. Iraq, the second largest producer in OPEC, said the move was based on economic indicators and done unanimously. “There is complete consensus among OPEC+ countries that […]
In France, a growing number of energy-intensive manufacturers are deciding to halt production as sky-rocketing energy costs make operations uneconomical. NTD’s France correspondent David Vives spoke to a policy analyst who says the energy crisis could spell the end of French industry.
LOS ANGELES—A judge on Thursday ruled that Kevin Spacey and his production companies must pay the makers of “House of Cards” nearly $31 million because of losses brought on by his 2017 firing for the sexual harassment of crew members. The ruling from Los Angeles Superior Court Judge Mel Red Recana gives the force of […]
Gas prices have dropped a few cents but still linger at record highs. The president on Monday said he’s weighing a few options to help Americans pay for gas, as the White House is smoothing out a disjointed message over whether or not President Joe Biden will meet with the Saudi crown prince to talk […]
