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The Latest Breaking News from Shanghai

Air conditioners in short supply as China lockdown ripple spreads

Concerns are growing that supply cannot keep up with demand for home appliances such as air conditioners and washing machines, due to the global shortage of semiconductors and Shanghai's COVID-19 lockdowns, which have hampered manufacturers' production.

The Japan News/Yomiuri

Shanghai will gradually resume dining-in at restaurants from June 29

Shanghai will gradually resume dining-in at restaurants from June 29 in low-risk areas and areas without any community-level spread of COVID-19 during the previous week，a Shanghai government official said on Sunday.

Reuters

Shanghai Reports Zero Covid Cases for 1st Time Since Outbreak

China reported zero new Covid-19 infections in Shanghai for the first time since March on Saturday, as the country's latest outbreak subsides after months of virus-spurred lockdowns and restrictions. China is the last major economy still committed to a zero-Covid strategy, stamping out new cases with a combination of targeted…

Asharq Al-Awsat

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Chinese military: US plane in Taiwan Strait endangered peace

SHANGHAI: China's military said on Saturday that the recent fly through of a United States maritime plane through the Taiwan Strait deliberately disrupted the regional situation and endangered peace and stability.

Bangkok Post

Here's Why Credit Suisse Sees Tesla Triumph Amid Odds

Credit Suisse analyst Dan Levy maintained Tesla Inc (NASDAQ:TSLA) with an Outperform and cut the price target from $1,125 to $1,000 (37% upside). Levy expected Tesla's 2Q deliveries of 242,000, missing the consensus of ~280,000 due to the Shanghai COVID shutdown. Moreover, given the lower delivery outlook, the associated margin impact, and an expected Bitcoin impairment, he…

Benzinga

Tech & Science Daily: Electric car falls from third floor of Shanghai building

Chinese electric carmaker NIO’s revised a statement it issued following the deaths of two test drivers which emphasised that the accident wasn’t “related to the vehicle itself”.

Evening Standard

Chinese electric car brand NIO says 2 killed in vehicle fall

The Chinese electric car brand NIO says two employees involved in testing died when one of its vehicles fell three stories from a parking structure in Shanghai

The Independent UK

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H&M Closes Shanghai Flagship Store, Hurt by Lockdowns and Consumer Backlash

H&M has shut its flagship Shanghai store, its latest closure in China where consumer demand has slumped amid COVID-19 lockdowns and the fast-fashion retailer has borne the brunt of a backlash against companies that refuse to use Xinjiang cotton. Although it was open earlier this month, the three-storey building in…

Asharq Al-Awsat

Two killed after Chinese electric car falls from third floor of company’s offices

Nio criticised over statement that said accident at Shanghai HQ was ‘not caused by the vehicle’

The Guardian - UK

Two test drivers killed as Nio electric car plummets out of office building in Shanghai

Social media users criticised Nio’s statement claiming the incident was an “accident” not caused by issues with the vehicle

Evening Standard

Two killed as Nio electric car falls from third floor office in Shanghai

The passengers lost control of the car in the parking area before they smashed through the windows

The Independent UK

Energy Monster Expands Its Reach, But Gets Bitten by Covid

Key Takeaways: • Leading power bank provider Smart Share Global’s revenue fell 13% in the first quarter as it suffered from pandemic lockdowns • Company hopes to improve performance with more efficient new power bank cabinet set to launch by the end of this year

Benzinga

Tesla Said To Be Planning 2-Week Halt At Giga Shanghai In July

Tesla Inc (NASDAQ: TSLA) plans to halt most of its production at Giga Shanghai in the first two weeks of July to upgrade the site, Reuters reported on Wednesday, citing an internal memo.

Benzinga

Two Nio Workers Die As Test Vehicle Falls Off Building In China: Report

Two Nio Inc (NYSE: NIO) employees died after a camouflaged Nio car reportedly fell from the fifth floor of the Shanghai headquarters.

Benzinga

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Caixin Global

Shanghai Composite Index Fell 1.2% on Wednesday

Shenzhen Component Index closed down 1.43%

Caixin Global

Apple Job Listing Indicates CarPlay Push in China

Maker of iPhone seeks automotive software engineers in Beijing, Shanghai and Shenzhen to help with system certification

Caixin Global

Shanghai Composite Index Fell 0.26% on Tuesday

Shenzhen Component Index closed down 0.51%

ABC News

Worried about the cost of living? This is the impact inflation is having in some of the world's most expensive cities

Australia isn't the only country seeing everyday foods like iceberg lettuce go from basic to bougie. This is what life looks like for people in some of the world's most expensive cities as inflation surges.

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news in one place.

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Caixin Global

Shanghai Composite Index Ended Nearly Flat on Monday

Shenzhen Component Index closed up 1.27%

Caixin Global

Opinion: To Restore Public Trust, a Public Apology is Responsible Governance

China does not have a tradition of public apologies from the government, but there’s been breakthroughs in recent years

Asharq Al-Awsat

Fire at Sinopec Shanghai Petchem Plant Kills One

A fire broke out at a Sinopec Shanghai Petrochemical Co Ltd plant in Shanghai early on Saturday, killing one person, the company said. Roaring fire was seen engulfing part of a sprawling factory, emitting columns of thick black smoke, in a video posted on Twitter by the state-backed Shanghai Daily.…

ABC News

Fire breaks out at Shanghai petrochemical plant, killing at least one person

At least one person is killed in a large fire at a Shanghai chemical plant that shot clouds of smoke across the city early on Saturday morning.

Daily Mirror

Shanghai fire: Huge blaze at chemical plant sends flames into sky as 'explosion' heard

A fire broke out at a petrochemical plant in Shanghai after several explosions were reportedly heard. Emergency services are on the site and evacuations have taken place

Asharq Al-Awsat

China Launches High-Tech Aircraft Carrier in Naval Milestone

Beijing launched a new-generation aircraft carrier Friday, the first such ship to be both designed and built in China, in a milestone as it seeks to extend the range and power of its navy. The Type 003 carrier christened Fujian left its drydock at a shipyard outside Shanghai in the…

Al Jazeera

China launches third aircraft carrier, the Fujian

The ship began construction in Shanghai in 2018 and is China’s first domestically-developed aircraft carrier.

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