The labor market showed continued resilience. President Biden signed legislation averting a rail strike. And a near-total embargo on Russian oil takes effect.
Category: Shutdowns (Institutional)
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The Week in Business: Upheaval in China
The New York Times – Business: -
China Protests Over ‘Zero Covid’ Follow Months of Economic Pain
The New York Times – Business:President Xi Jinping’s unbending approach to the pandemic has hurt businesses and strangled growth, squeezing the world’s second-largest economy.
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‘No Cooperation’: How Sam Bankman-Fried Tried to Cling to FTX
The New York Times – Business:Emails and text messages show how lawyers and executives struggled to persuade the 30-year-old entrepreneur to give up control of his collapsing crypto exchange.
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Caroline Ellison Was a Little-Known Crypto Trader. Then FTX Collapsed.
The New York Times – Business:Caroline Ellison, who ran the cryptocurrency trading firm Alameda Research, has found herself at the center of Sam Bankman-Fried’s collapsed crypto empire.
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US Approves Aid to Extend Life of California Nuclear Plant
The New York Times – Business:The Energy Department’s grant of $1.1 billion is the latest step that could keep the reactor in operation beyond its scheduled shutdown in 2025.
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Redfin, the Online Real Estate Broker, Lays Off 13% of Its Staff
The New York Times – Business:The company also said it was shuttering RedfinNow, its home-flipping service, as concerns grow about a slowdown in the housing market.
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Redfin, a Real Estate Broker, Lays Off 13% of Its Staff
The New York Times – Business:The company also said it was shuttering RedfinNow, its home-flipping service, as concerns grow about a slowdown in the housing market.
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Apple Could Be Short of iPhones Because of Factory Disruptions in China
The New York Times – Business:The company said Covid-19 restrictions were slowing production of the company’s new phones ahead of the holiday season.
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After Covid Lockdown, Fear and Unrest Sweep iPhone Factory in China
The New York Times – Business:Hundreds of workers are said to have fled, afraid of being forced into quarantine with inadequate food and supplies.
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Europe Braces for a Winter Without Russian Gas
The New York Times – Business:Countries across the continent have taken extraordinary steps to decrease energy use and ramp up supply, moving swiftly away from their longtime primary provider, Russia.
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Foxconn’s Big iPhone Plant Hit by China’s Latest Covid Lockdown
The New York Times – Business:An outbreak in Zhengzhou has sent an unknown number of workers at the city’s Foxconn plant into quarantine. It’s a bad time of year for output of iPhones to slow down.