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New Delhi CNN Business —Foxconn, one of Apple’s largest suppliers, is wrestling with major disruption at its biggest iPhone assembly factory in China, as anxious workers reportedly flee the facility, according to social media videos. “[We] fully understand your eagerness to go back home,” Foxconn told its employees over the weekend, according to a post on Zhengzhou government’s official WeChat account. The Zhengzhou campus is the world’s biggest iPhone factory and typically accounts for as much as 85% of iPhone assembly capacity, according to Lam’s estimates. State media has said that many Foxconn workers are among those walking miles to escape the city. While these disruptions will impact iPhone production in the near term, analysts say it may not dent Apple’s iPhone shipments in the key holiday season.

☆ TuSimple fires CEO over ties to Chinese firm; exec denies wrongdoing
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Shares of TuSimple Holdings Inc (TSP.O) nearly halved on Monday after the self-driving truck startup said it had removed Chief Executive Xiaodi Hou in connection with the company's ties to a China-backed firm. TuSimple said in a securities filing that an investigation by its board showed some of its employees spent paid hours last year working for Hydron Inc, a startup working on autonomous trucks mostly in China. "It is so unfair to let politics get in the way of the dream we were pursuing together," he said. San Diego, California-based TuSimple has named Ersin Yumer, the vice president of operations, as its interim CEO. The company also said that it had not been able to determine the value of confidential information shared with Hydron.

☆ TuSimple's Hou says he was removed as chair, CEO 'without cause'
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: 1 min

Oct 31 (Reuters) - The former chief executive of self-driving technology company TuSimple (TSP.O), Xiaodi Hou, on Monday confirmed he had been removed as chairman and CEO by the company's board, adding in a WeChat post the move was "without cause." Hou's ouster came after The Wall Street Journal reported the company was being investigated by the FBI, U.S. Securities and Exchange Commission (SEC) and Committee on Foreign Investment about its relationship with China-backed Hydron Inc.Hou described the board's process as "questionable at best," denied any wrongdoing, and said he did not intend to sell shares in the company. Reporting By Kevin Krolicki; editing by Peter Henderson and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Twitter’s new “Chief Twit” spent the weekend tweeting — and it’s still not much clearer what Elon Musk will do with his new company. He denied a report from The New York Times that he planned to make major layoffs Monday ahead of a date when many Twitter employees receive stock grants. Musk has surrounded himself with Silicon Valley veterans, some of whom have criticized Twitter’s moderation work. Later, he appeared to poke fun at his deleted tweet while also taking a swipe at The New York Times. “This is fake — I did *not* tweet out a link to The New York Times!” Musk wrote alongside a screenshot of the Times’ coverage of his deleted tweet.

☆ A Disney resort in China is locked down because of Covid and visitors can't leave
▼ + stars: | 2022-10-31 | by ( ) www.nbcnews.com time to read: +2 min

The theme park continued to operate rides for visitors stuck in the park during the closure on Monday, social media users reported. A Shanghai Disney Resort spokesperson said the resort was still operating “limited offerings” and that they were following measures in line with guidelines from Chinese health authorities. The closure marks the latest disruption for the Shanghai Disney Resort, which was shut for over three months during Shanghai’s lockdown earlier this year. Reuters was not able to verify the authenticity of the videos and the Shanghai Disney Resort did not respond when asked about on how many visitors were inside. The Universal Resort in the country’s capital of Beijing reopened on Monday after a five-day closure, which was also prompted by virus measures.

☆ LVMH-backed L Catterton aims to raise 2 billion yuan in first yuan-denominated fund
▼ + stars: | 2022-10-31 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Thomas White/IllustrationBEIJING/HONG KONG (Reuters) -L Catterton, the private equity firm backed by luxury goods empire Louis Vuitton Moet Hennessy, said on Monday it aimed to raise 2 billion yuan ($275.44 million) for its first yuan-denominated fund, as it eyes early-stage investments in China. The new fund has raised “around 1 billion yuan” at first-close, a source familiar with the matter said. L Catterton declined to comment on a Reuters request. The first phase of the fund will be based in the southwestern Chinese city of Chengdu, according to the statement. ($1 = 7.2611 Chinese yuan renminbi)

☆ Workers in China flee major iPhone factory amid Covid curbs
▼ + stars: | 2022-10-31 | by ( ) www.nbcnews.com time to read: +3 min

Late on Saturday, cities near Zhengzhou, including Yuzhou, Changge and Qinyang, urged Foxconn workers to report to local authorities in advance before heading home. Apple did not immediately reply to a Reuters request for comment on the Foxconn situation. Photographs and videos circulating on Chinese social media since Saturday showed Foxconn workers, apparently returning home, trekking across fields in the day and along roads at night. In a show of support, residents in the vicinity left bottled water and provisions next to roads with signs such as: “For Foxconn workers returning home,” according to social media posts. “Some people were walking amid wheat fields with their luggage, blankets and quilts,” one user on WeChat, a popular social media platform, wrote about the images.

☆ Shanghai Disney shuts over Covid, visitors unable to leave
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: +1 min

The Shanghai Disney Resort on June 30, 2022 in Shanghai, China. Shanghai's Disney Resort abruptly suspended operations on Monday to comply with Covid-19 prevention measures, with all visitors at the time of the announcement directed to stay in the park until they return a negative test for the virus. Shanghai's Disney Resort abruptly suspended operations on Monday to comply with Covid-19 prevention measures, with all visitors at the time of the announcement directed to stay in the park until they return a negative test for the virus. Anyone who had visited the park since Oct. 27 would need to test for Covid-19 three times in three days, it said. The theme park continued to operate rides for visitors stuck in the park during the closure on Monday, social media users reported.

☆ China residents will be able to travel to Macao using e-visa starting Nov. 1
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: +1 min

This photograph taken on October 20, 2022 shows a view of the Cotai Strip in Macau. China's immigration bureau said mainland residents will be able to travel to Macao from Nov. 1 using an online visa system rather than in-person applications, a move that could increase travel to the world's largest gambling hub. In-person applications have been required for the past two and a half years due to Covid-19 restrictions. Authorities locked down the MGM Cotai casino resort owned by MGM China on Sunday with staff and guests ordered to stay inside until Nov 1. All of Macao's 700,000 residents are mandated to take rapid antigen tests daily during the period, the government said.

☆ China residents able to travel to Macau using e-visa from Nov 1
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Oct 31 (Reuters) - China's immigration bureau said mainland residents will be able to travel to Macau from Nov. 1 using an online visa system rather than in-person applications, a move that could increase travel to the world's largest gambling hub. Authorities locked down the MGM Cotai casino resort owned by MGM China (2282.HK) on Sunday with staff and guests ordered to stay inside until Nov 1. All of Macau's 700,000 residents are mandated to take rapid antigen tests daily during the period, the government said. Macau's six casino operators - Sands China (1928.HK), Wynn Macau (WYNN.O), Galaxy Entertainment (0027.HK), MGM China, Melco Resorts and SJM Holdings (0880.HK) - are currently awaiting a government decision on whether they will be granted new licenses. Reporting by Farah Master and Beijing newsroom; Editing by Kim Coghill and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Shanghai’s Disney Resort closes abruptly over Covid with visitors stuck inside
▼ + stars: | 2022-10-31 | by ( ) edition.cnn.com time to read: +2 min

The theme park continued to operate rides for visitors stuck in the park during the closure on Monday, social media users reported. A Shanghai Disney Resort spokesperson said the resort was still operating “limited offerings” and that they were following measures in line with guidelines from Chinese health authorities. The closure marks the latest disruption for the Shanghai Disney Resort, which was shut for over three months during Shanghai’s lockdown earlier this year. Reuters was not able to verify the authenticity of the videos and the Shanghai Disney Resort did not respond when asked about on how many visitors were inside. The Universal Resort in the country’s capital of Beijing reopened on Monday after a five day closure, which was also prompted by virus measures.

☆ Chinese cities brace for wave of Foxconn workers from COVID-hit Zhengzhou
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +3 min

Taiwan-based Foxconn, which has about 300,000 workers in Zhengzhou, has not disclosed the number of infected workers. On Oct. 19, Foxconn banned all dining-in at canteens and required workers to take their meals in their dormitories, but assured that production was normal. Photographs and videos circulating widely on Chinese social media since Saturday showed Foxconn workers trekking across fields in the day and along roads at night. "They were Foxconn employees who escaped from the factory and were walking home," wrote a user of WeChat in a post about the social media images. Returning workers are to travel "point-to-point" in pre-arranged vehicles en route, and are to be quarantined on arrival, they said in separate letters on their respective social media accounts addressed to Zhengzhou Foxconn workers.

☆ Elon Musk says he's open to allowing longer videos and an extended character count on Twitter
▼ + stars: | 2022-10-30 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

After taking over Twitter, Elon Musk said he is open to allowing longer videos and tweets on the platform. In a tweet late Saturday, the billionaire and self-proclaimed "Chief Twit" said he was open to letting people post longer videos and tweets. Musk also hinted he'd consider extending the length of videos users can post on Twitter. "Is there a chance of increasing the allowable length of videos so that we can post longer videos? "I'm worried about de facto bias in 'the Twitter algorithm' having a major effect on public discourse," Musk tweeted.

☆ Dogecoin surges on Elon Musk's Twitter deal
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: +2 min

[1/2] A photo of Elon Musk is displayed on a smartphone placed on representations of cryptocurrency Dogecoin in this illustration taken June 16, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoOct 29 (Reuters) - Dogecoin surged more than 70% on Saturday, extending this week's gains after Elon Musk sealed a $44-billion deal to take over Twitter last week. Tesla started accepting dogecoin as payment for its merchandise early this year, and Musk's newly launched perfume brand can also be bought with dogecoin. Cryptocurrency exchange Binance which has invested $500 million into Musk's buyout of Twitter, said it is brainstorming strategies on how blockchain and crypto could be helpful to Twitter. Musk tweeted this month that he is buying Twitter to create an "everything app".

☆ Shanghai Disneyland reduces operations as China tightens COVID curbs
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 29 (Reuters) - Shanghai Disneyland will operate at reduced capacity from Saturday to comply with COVID-19 measures, the resort said in a statement, in another sign of tightening curbs across China as it seeks to contain the spread of coronavirus infections. The amusement park will operate with a reduced workforce on a temporary basis, which will have an impact on the operation of certain attractions, restaurants and shops, it said on its official Wechat account. Shanghai Disneyland Hotel, Disneytown and Wishing Star Park will operate normally, it said. In Beijing, the Universal Resort theme park was shut on Wednesday after at least one visitor tested positive for the coronavirus. Reporting by Dominique Patton; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ China's Evergrande delivers first electric vehicles
▼ + stars: | 2022-10-29 | by ( ) www.reuters.com time to read: +1 min

[1/2] A view of the electric vehicle (EV) factory of China Evergrande New Energy Vehicle Group in Tianjin, China October 20, 2021. REUTERS/Yilei SunBEIJING, Oct 29 (Reuters) - China Evergrande New Energy Vehicle Group Ltd (0708.HK) has started deliveries of its Hengchi 5 electric vehicle, with the first 100 customers getting their cars on Saturday, it said on its official Wechat account. The company, a unit of heavily indebted property developer China Evergrande Group (3333.HK), launched production of the vehicle at a plant in the northern city of Tianjin last month. Evergrande is aiming to shift the group's primary business from real estate to the automobile venture over the next decade, with plans to make 1 million vehicles by 2025. ($1 = 7.2499 Chinese yuan renminbi)Reporting by Jenny Wang and Dominique Patton; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Elon Musk's plan to turn Twitter into a super app is a step closer now that he owns the platform
▼ + stars: | 2022-10-28 | by ( Beatrice Nolan | Grace Kay | ) www.businessinsider.com time to read: +4 min

According to Musk, the Twitter acquisition will play a part in the creation of a super app called X. If Musk plans to turn Twitter into X, it will likely mean bringing in many new features. Although reports vary about Musk's full intentions, the billionaire has made repeated claims that the acquisition would play a part in the creation of a super app, or what he has also referred to as an "everything app." If Musk plans to create his everything app with Twitter it will mean bringing in many new features. 'Grand vision'Musk has stated that the Twitter acquisition may speed up the creation of his super app by three to five years.

☆ China rolls out first inhalable COVID vaccine
▼ + stars: | 2022-10-28 | by ( Casey Hall | ) www.reuters.com time to read: +3 min

Chinese regulators approved the vaccine, produced by Chinese pharmaceutical firm CanSino Biologics (6185.HK), for use as a booster in September. His hospital is among those administering the new vaccine, which will be used as well as regular injected shots. The country has relied on domestically produced, inactivated shots and has yet to import, or introduce its own version, of an mRNA vaccine. Loh is hopeful that results from Shanghai's foray into inhaled vaccines will encourage other countries to follow suit. "I think inhaled vaccines for respiratory illness like COVID-19 will be the future," he said.

☆ Analysis: For Twitter boss Elon Musk, now comes the hard part
▼ + stars: | 2022-10-28 | by ( Sheila Dang | ) www.reuters.com time to read: +6 min

The long term potential for Twitter in my view is an order of magnitude greater than its current value." "Buying Twitter is an accelerant to creating X, the everything app," Musk tweeted earlier this month. Twitter permanently suspended Trump for risk of further incitement of violence after the Jan. 6, 2021, attack on the U.S. Capitol. Tesla's expanding business in China, where it generated $14 billion last year, could also put Twitter at risk, Goldman, the former Twitter board member, said. Twitter is staffed with experts who review data requests from governments, but Musk has shown his contempt of these experts, he said.

☆ Elon Musk now owns Twitter. Here’s what he could change
▼ + stars: | 2022-10-28 | by ( Clare Duffy | ) edition.cnn.com time to read: +9 min

New York CNN Business —After spending months attempting to get out of his deal to buy Twitter, Elon Musk officially owns the hugely influential platform. Musk has said Twitter, under his leadership, would have more lenient content moderation policies. Unbanning Trump and other accountsBut the most striking early change could come from who is and is not allowed on a Musk-owned Twitter. Musk, for his part, has focused on bringing back one of Twitter’s most prominent former users: Trump. The same day he sent his letter to Twitter attempting to revive the deal, Musk was widely panned for comments he made on the platform about Russia’s invasion of Ukraine.

☆ One fintech exec says Elon Musk might be the best bet to build a super app in the US
▼ + stars: | 2022-10-27 | by ( Asia Martin | ) www.businessinsider.com time to read: +3 min

Elon Musk is set to acquire Twitter by the October 28 deadline set by a judge. Rapyd exec Larry Lee says Musk has the best chance at creating a super app from scratch in the US. Larry Lee, Rapyd's global head of financial networks, said Elon Musk is the "best chance" the US has for creating a so-called super app from scratch. A super app is a mobile or web-based application acting as a one-stop shop for consumers' financial and commerce needs. But the key to becoming a super app is having reasons for the user to use it daily or even multiple times throughout the day.

☆ Inside Elon Musk's first day at Twitter HQ. With one of his kids in tow, Musk was mobbed in a coffee shop and employees asked about his reported plan to cut 75% of the workforce.
▼ + stars: | 2022-10-27 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Musk carried a sink into Twitter HQ in San Francisco, an attempt at a joke. "Entering Twitter HQ – let that sink in!" Musk tweeted alongside a video of him at the front desk of Twitter's office carrying a sink. Twitter employees have been on edge for months because of the looming threat of losing their job. Are you a Twitter employee or someone with insight to share?

☆ From Walmart to Venmo and Klarna, industry insiders pick the companies they believe have the best chance at standing up a 'super app' in the US
▼ + stars: | 2022-10-26 | by ( Asia Martin | ) www.businessinsider.com time to read: +3 min

Industry insiders shared their views on what tech companies could reach super app status in the US. Cornerstone Advisors' Ron Shevlin doesn't think the US will have a single super app. The race to build a so-called financial super app is well underway, and some industry insiders are already placing their bets. Ron Shevlin, chief research officer at consultancy Cornerstone Advisors in Scottsdale, Arizona, envisions Walmart being the closest to building a super app in the US. It is an opportunity, I think, for them to become a super app.

☆ On China's internet, only plaudits for the party and Xi
▼ + stars: | 2022-10-24 | by ( Eduardo Baptista | ) www.reuters.com time to read: +3 min

BEIJING, Oct 24 (Reuters) - While financial markets judged the outcome of China's Communist Party Congress harshly on Monday, on China's internet the only permitted response has been full-throated support. But no such reaction was visible on China's internet, which was already heavily policed and saw a tightening up of censorship before and during the Congress, analysts said. Some social media users voiced criticism in opaquely written posts. State and party groups across China, meanwhile, promoted the Congress energetically in their online postings, highlighting praise for Xi and the outcome of the party's deliberations. Hashtags for state media congress coverage dominated the top of Weibo's viral topics list.

☆ Elon Musk must close Twitter deal by end of this week or face trial
▼ + stars: | 2022-10-24 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

New York CNN Business —The clock is ticking for Elon Musk to complete his deal to buy Twitter. ET on Friday to close his $44 billion acquisition of Twitter or face a trial that was previously delayed to allow both parties to close the deal. Musk in April agreed to buy Twitter (TWTR) for $54.20 per outstanding share and then, weeks later, sought to terminate the deal. Bloomberg last week reported that the company had frozen employees’ stock accounts in anticipation of the deal’s closing, and that lawyers for both Musk and Twitter were preparing paperwork to close the deal. Musk, meanwhile, told Tesla shareholders that he was “excited” about Twitter even as he admitted to “obviously overpaying” for it.

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