Daily Management Review
Business & Finance

WSJ finds out about Apple's plans to accelerate transfer of production from China

According to sources cited by the WSJ, Apple has hastened plans to shift some of its manufacturing from China to India or Vietnam and is also looking to lessen its reliance on Taiwanese assemblers. The Wall Street Journal claimed, citing sources engaged in the discussions, that Apple had hastened...

Pfizer to invest in Dublin manufacturing facility

On Thursday, Pfizer Inc. announced plans to invest more than €1.2 billion to increase output at its Dublin plant. As a result, the capacity to synthesize vital elements utilized in biologic treatments will be doubled. The business started manufacturing a COVID-19 vaccine component at its facility...

HSBC to close a quarter of its UK branches

On November 30, the UK bank HSBC announced plans to close 114 out of 441 of its UK locations. Between April and August 2023, these branches will systematically stop operating. After that, the bank will only have 327 locations left in the entire nation. The trend of banks closing their physical...

Irish Data Protection Commission Imposes €265m Fine On Meta Over Facebook Data Breach

The Irish Data Protection Commission fined Meta, the company that owns Facebook, Instagram, and WhatsApp, €265 million (DPC). The fine is for a data breach that resulted in the personal information of hundreds of millions of Facebook users being published online.   An online hacking forum...

BlockFi’s Bankruptcy Filing Show The Manner In Which It Was Doomed By The FTX Collapse

Sam Bankman-Fried was said to be the only person who could save crypto. As cryptocurrency markets crumbled following Terra's spring crash, the former FTX CEO bailed out and took over crypto firms. FTX won the bidding war for bankrupt crypto firm Voyager Digital in a highly advantageous deal in...

U.S. to allow Chevron to increase oil production in Venezuela

As soon as Venezuelan authorities resume political talks with the opposition, the US may soon permit Chevron Corp to increase operations there and resume oil trade. That was said to have occurred on Wednesday by four reliable sources. One of the primary drivers for the beginning of negotiations...

Stellantis to produce affordable electric cars for European market in India

CEO of Stellantis, the parent company of Fiat, told reporters that the business has come to the conclusion that it cannot now create affordable electric cars in Europe and is considering lower-cost production in countries like India. Carlos Tavares, chief executive of the company that owns brands...

iPhone Maker Foxconn Apologizes Following Massive Protests At Its Factory in China

A day after its iPhone factory in China was rocked by angry protests, Apple supplier Foxconn apologized for a "technical error" in its payment systems. Hundreds of workers were seen marching at the world's largest iPhone factory in Zhengzhou, with complaints about Covid restrictions and claims of...

HP To Reduce Its Global Workforce By 4,000-6,000 In Next Three Years

Top computer manufacturer HP Inc. has announced its plans of laying off 4,000 to 6,000 workers within the next three years. Following the announcement, stocks of the company hiked by as much as 1% in extended trading.   Considering the economic challenges being faced...

Bitcoin Falls To A Two-Year Low As The Crypto Market Loses $1.4 Trillion This Year In The FTX Collapse Aftermath

Bitcoin fell to a two-year low on Tuesday, as the cryptocurrency market suffered as a result of the collapse of major exchange FTX.   According to CoinDesk data, Bitcoin fell to $15,480, its lowest level since November 11, 2020. At 8:12 a.m. ET, the digital coin had recovered from its low...
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