Business

One of Apple’s top iPhone suppliers is paying workers to quit and go home as it struggles to work amid labor unrest and COVID lockdowns. In a staff release, Foxconn said it would offer newly hired employees at its Zhengzhou plant a bonus of 8,000 yuan ($1,100) for immediate resignation and another 2,000 yuan ($300) if they got back on…

After losing nearly $300 billion in market value in two months, a growing chorus of Tesla Inc. analysts say the share price decline has gone far enough to propel the stock higher on Wednesday. Morgan Stanley analyst Adam Jonas previously said that Tesla is nearing its “bearfall” price target of $150, giving investors an opportunity to buy at a bargain…

A Walmart employee opened fire at a Virginia store, killing six people, police said Wednesday, in the country’s second high-profile mass killing in days. The attacker also killed himself. The Chesapeake store was busy with people stocking up ahead of the Thanksgiving holiday just before filming Tuesday night, a shopper told a local TV station. There was no clear motive…

Twitter’s new CEO Elon Musk wants the social media platform to look abroad for inspiration. Musk said at an all-hands meeting Monday that Twitter should use its presence in Japan as a model for its future, saying the country is an example of what Twitter should “ideally strive for in every country without exception.” The edge. “It might seem like…

Elon Musk has made some enemies since taking over Twitter, including at least half of Twitter’s (now former) employees and Twitter users who believe the platform is dying. However, some more traditional CEOs are warming to Musk’s ways. The Tesla CEO has become a poster boy for colleagues who are fed up with the new emphasis on work-life balance and…

American consumers and almost every industry will be impacted when freight trains grind to a halt next month. One of the biggest rail unions rejected its deal on Monday, joining three others who have not approved contracts over concerns about demanding schedules and a lack of paid sick time. That increases the risk of a strike that could start as…

A Texas fintech that marketed itself as an “anti-woke” alternative for “pro-freedom” Americans has shut down. Texas-based GloriFi made its debut in September, allowing customers who thought Wall Street was too permissive to open checking and savings accounts and apply for credit cards. Less than three months later, however, the bottom fell after the necessary funding failed to materialize. The…

When a buttoned-up Fed economist says the US housing market is in a “difficult [housing correction”], it would be wise to believe them. When it comes from Fed Chair Jerome Powell’s lips, it’s more of a warning. Powell is right: not only is housing activity continuing to slump, US house prices are also falling for the first time since 2012.…

Walt Disney will pay Bob Iger about $27 million annually to return as chief executive officer under a new two-year deal. Iger will receive a base salary of $1 million and a bonus equal to that amount, according to a company filing Monday. In addition, he earns stock awards each year with a target of $25 million. Disney, the world’s…

High on a fence in Badlands National Park, Troy Heinert peered from under his wide-brimmed hat into a pen where 100 wild bison were awaiting transfer to the Rosebud Indian Reservation. Descendants of bison that once roamed the Great Plains of North America by the tens of millions, the animals were soon thundering up a chute, taking a truck ride…