Apple supplier Foxconn said it plans to invest more than $1.5 billion in India in an unspecified construction project to meet its “operational needs.” Foxconn already has several projects in the works in India, including factories in the states of Karnataka and Telangana. Foxconn is a key Apple supplier and plays a crucial role in … [Read more…]
A shopper leaves a Nike store in the Magnificent Mile shopping district in Chicago with a purchase on December 21, 2022. Scott Olson | Getty Images Nike shares plunged on Friday after the sportswear maker cut its fiscal year sales forecast, with sneaker retailer Foot Locker also feeling the blow. Nike fell more than 10%. … [Read more…]
Japanese steel giant Nippon Steel’s plans to buy Pittsburg-based US Steel have faced opposition from both Democratic and Republican lawmakers – and now the Joe Biden administration. The bipartisan opposition to the $14.9 billion deal appears to be at odds with the fundamental American commitment to free markets and unrestricted entrepreneurship. Critics of the deal … [Read more…]