Indonesian GoTo has lost nearly 70% of its valuation since its IPO in April Indonesia’s GoTo Group – the merged entity of ride-hailing giant Gojek and e-commerce marketplace Tokopedia – has lost 68.5% of its original 400 trillion rupiah ($28 billion) value since going public in April . On Thursday, pre-IPO shareholders such as Alibaba …
Hong Kong shares jump 4% as China relaxes some virus rules Read More »
Editor’s note: A version of this story appeared in CNN Business’ Nightcap newsletter. To receive it in your inbox, subscribe for free, here. New York CNN Business — Over the weekend, mainland China experienced something it hadn’t seen in over 30 years: thousands of protesters flooding the streets, defying the Communist Party. The protests had …
Protests in China chill global markets | CNN Business Read More »
hong kong CNN Business — A violent uprising by workers at the world’s largest iPhone factory in central China this week further clouds Apple’s strained supply chain and highlights how the country’s tough zero Covid policy is harming to global technology companies. The unrest began last month when workers left the factory campus in Zhengzhou, …
Apple has a huge problem with its supplier’s iPhone factory in China | CNN Business Read More »
Beijing/Hong Kong CNN Business — Workers at China’s largest iPhone assembly plant were seen confronting police, some in riot gear, on Wednesday, according to videos shared on social media. Videos show hundreds of workers confronting law enforcement officers, many wearing white hazmat suits, at the Foxconn campus in China’s central city of Zhengzhou. In the …
hong kong CNN Business — Market sentiment on Chinese stocks hit rock bottom just weeks ago after President Xi Jinping secured a historic third term in office and piled his best team with loyalists in a sweep not seen since Mao era. But last week, a series of unexpected moves from Beijing — the easing …
