Apple’s Reliance on China Grows Perilous With Chaos in iPhone City

The daily Covid testing also proved to be flawed. As many as 20 workers’ throat swabs were put into one tube to speed testing and lower costs. If the results came back positive, all the workers whose samples were in that one tube were put into isolation for further testing. Those who worked on the same production … Read more

FTX Crypto Bubble Really Is the Worst of Its Kind

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Crypto exchange FTX US is expanding its no-fee stock trading service to all US users, including non-crypto investors, in a move to … Read more

Employees Have Finally Had Enough of Its Toxic Culture

(Bloomberg Businessweek) — Shortly after Exxon Mobil Corp. lost its battle with an activist investor last year, an executive named Bill Keillor decided to give his department a morale boost. It had been a difficult year and a half for Exxon employees. Covid-19 and plunging crude prices had led to halted salary increases, reduced benefits, … Read more

GoTo In Talks With Alibaba, SoftBank For $1 Billion Stake Sale

GoTo has engaged Citigroup Inc. and Goldman Sachs Group Inc., along with local advisers, to help with managing the potential selldown by existing shareholders, the people said. Representatives of GoTo, Citigroup, Goldman Sachs and SoftBank declined to comment. Alibaba didn’t respond to a request for comment.

Indian Car-Sharing Platform Zoomcar to Go Public Via SPAC Deal

Zoomcar was founded in 2013 by Greg Moran, who is now chief executive officer, and David Back, who is no longer with the company. The platform has more than 3 million active users, with over 25,000 vehicles registered by their owners. The company, which doesn’t own any of the vehicles rented through its platform, takes … Read more

Is China Done With Its Market Crackdown? Ask Fosun

(Bloomberg Opinion) — Global investors are wondering these days if Beijing has decided to ease a yearlong regulatory crackdown that has cost them more than $1 trillion in losses. After all, China accounts for about one-third of the emerging markets benchmark index. It’s simply too big to be ignored. With no clear statement of policy on offer, asset managers have … Read more