Apple Makes Plans to Move Production Out of China

Apple Makes Plans to Move Production Out of China

In recent weeks, Apple Inc. AAPL -0.34% has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly … Read more

Saudi Arabia Eyes OPEC+ Output Increase Ahead of Restrictions on Russian Oil

Saudi Arabia Eyes OPEC+ Output Increase Ahead of Restrictions on Russian Oil

Saudi Arabia and other OPEC oil producers are discussing an output increase, the group’s delegates said, a move that could help heal a rift with the Biden administration and keep energy flowing amid new attempts to blunt Russia’s oil industry over the Ukraine war. A production increase of up to 500,000 barrels a day is … Read more

Opinion: This record number in Nvidia earnings is a scary sight

Opinion: This record number in Nvidia earnings is a scary sight

Nvidia Corp.’s financial results had a bit of a surprise for investors, and not on the good side — product inventories doubled to a record high as the chip company gears up for a questionable holiday season. Nvidia reported fiscal third-quarter revenue that was slightly better than analysts’ reduced expectations Wednesday, but the numbers weren’t … Read more

China Agrees to Approve BioNTech’s Covid-19 Vaccine for Foreigners, German Chancellor Says

China Agrees to Approve BioNTech’s Covid-19 Vaccine for Foreigners, German Chancellor Says

SINGAPORE—China agreed to approve BioNTech SE’s Covid-19 vaccines for foreign residents, German Chancellor Olaf Scholz said in Beijing Friday, in what would mark the first approval of an mRNA vaccine for Covid-19 for use in China. Mr. Scholz and Chinese leader Xi Jinping also discussed a pathway for approving the BioNTech vaccine for the broader … Read more

GM Posts $3.3 Billion Quarterly Profit as Shipments to Dealerships Rise

GM Posts .3 Billion Quarterly Profit as Shipments to Dealerships Rise

GM reported a $3.3 billion profit, driven by outsize sales of big pickup trucks and SUVs, the company’s biggest money makers. Revenue jumped 56% to a quarterly record $41.9 billion, as the auto maker worked through a backlog of vehicles that it hadn’t been able to ship the prior quarter because of parts shortages.  GM … Read more

Mississippi River Approaching Record-Low Water Levels, Threatening Commercial Traffic

Mississippi River Approaching Record-Low Water Levels, Threatening Commercial Traffic

VICKSBURG, Miss.—Sections of the Mississippi River are approaching low water levels not seen in more than three decades, disrupting a vital supply lane for agriculture, oil and building materials and threatening businesses including barge and towboat operators, farmers and factories. The low water, caused by a lack of rain in the Ohio River Valley and … Read more

TikTok Parent ByteDance Plans Music-Streaming Expansion

TikTok Parent ByteDance Plans Music-Streaming Expansion

TikTok parent ByteDance Ltd. has begun talks with music labels about expanding its music-streaming service globally to compete with industry leaders including Spotify Technology SA, according to people with the discussions. Significant hurdles remain in the negotiations, the people said, but ByteDance wants the service to eventually be integrated within TikTok and to serve as … Read more

Saudi Arabia Defied U.S. Warnings Ahead of OPEC+ Production Cut

Saudi Arabia Defied U.S. Warnings Ahead of OPEC+ Production Cut

RIYADH, Saudi Arabia—Days before a major oil-production cut by OPEC and its Russia-led allies, U.S. officials called their counterparts in Saudi Arabia and other big Gulf producers with an urgent appeal—delay the decision for another month, according to people familiar with the talks. The answer: a resounding no. U.S. officials warned Saudi leaders that a … Read more

BAE, U.S. in Talks to Restart M777 Howitzer Production After Ukraine Success

BAE, U.S. in Talks to Restart M777 Howitzer Production After Ukraine Success

British arms maker BAE Systems BAESY 2.41% PLC said it was considering restarting production of the M777 howitzer, as the big gun’s performance on Ukrainian battlefields revives interest in the weapon. BAE said several countries had expressed an interest in buying M777s, production of which is currently being wound down. The inquiries come after Ukrainian … Read more

Chevron Faces Tough Job Restarting Venezuela’s Damaged Oil Fields

Chevron Faces Tough Job Restarting Venezuela’s Damaged Oil Fields

As the Biden administration looks at relaxing sanctions to allow Chevron Corp. to pump oil in Venezuela again, the company is preparing to navigate myriad challenges in the country that could limit its ability to increase production quickly. Chevron will have to manage everything from fuel shortages to accident-prone oil infrastructure to security and corruption … Read more