if you remember even at the height of the pandemic, apple and foxconn were able to figure it out.middle of everything, apple was still able to shift -- ship the iphone in november 2020. that was a two-month delay further flagship product in the middle of covid, pre-vaccines, at the height of things. so they were able to figure it out then with only two-month delay, i am pretty optimistic they will be able to figure it out with more vaccines and masking regulations at a slower period for the company. emily: mark gurman, we will continue to watch your reporting on this. thank you. i want to stay on the topic and the resurgence in china and hong kong, and bring in a senior genomics analyst with arc k invest. we are seeing the spike in china as the world health organization has been considering declaring an end to the pandemic. does this signal to you that this could get worse, or maybe a lot worse before it gets better? guest: thanks, emily, for having me. nice to see you again. i think obviously we have had these spikes before and seen multiple mutations arising from covid-19 and th

foxconn has many factories where they produce the iphone and other products.ations go up in some factories, they will have to reallocate that to other factories. as other factories reopen, they have to move production back. i'm sure that's what they are on the scene in china figuring out right now. they want to see how bad this becomes. obviously we are and a different place than we were two years ago now with vaccines and masking and people used to these protocols. so my hope for apple and china globally is this it's resolved quickly and foxconn can work through it at a faster pace than two years ago. if you remember even at the height of the pandemic, apple and foxconn were able to figure it out. in the middle of everything, apple was still able to shift -- ship the iphone in november 2020. that was a two-month delay for the flagship product in the middle of covid, pre-vaccine. so they were able to figure out then with only two months delay, i'm optimistic they will be able to figure it out with more vaccines and masking regulations at a slower period for th

what does all of this mean, a locked down for foxconn? foxconn is doing, it is halting operations at campuses in shenzhen. that includes its china headquarters. foxconn is saying it is stopping operations, halting production until the government issues approval. we do not know when that will be. the government is saying they are ordering companies to halt operations for a week until march 20. we have to wait to hear what the government does next. manus: what is the impact on foxconn and the apple supply chain? >> so -- dani: it seems like debbie might have technical issues. that was debbie wu giving us an update, foxconn one of the biggest suppliers for apple. manus? manus: let's think about that for a moment. debbie has run nests through. -- run us through. you begin to see inflows and outflows between apple suppliers and you understand the technical overlaps. let's have a look at some of the other markets that we have in terms of this shutdown. i want to focus on the commodity block. razor-sharp, commodities are down. iron ore down for

foxconn says it has reallocated production to minimize disruptions.winding down its operations in russia after the invasion of ukraine. reversing an earlier decision not to pull out. the lender says it will not have any new business in russia and that it is substantially reducing exposure to the country since 2014. the withdrawal would include its i.t. hub, which employs about 1600 staff. rishaad: are right, let's have a look at markets. we saw japan go for its lunch break. australia moving to the upside there. but generally speaking a lot of pressure on equities coming through on the tech side of things. technology stocks under pressure once more. it is the philippines now which is leading the charge down, taking it head-on from the hong kong market. we've got asia's tech index as i was looking at it on the way down about seven and a half percent. that is adding all of this track with companies like jd.com a lo the ipo price here in hong kong as well. elsewhere, let's look at the commodity side of things. we can see iron or coming off of its recent h

. >> reporter: we told you a about an uptick in covid cases which caused foxconn to pause production,t's apple's largest contractor in china. but now operations are back to normal. worries remain, however, on whether foxconn and other suppliers in china will be able to deliver, especially after apple announced several new products. >>> celebrities with helping people of ukraine. through a gofundme page, ashton kutcher and mila kunis raised $34 million for humanitarian aid and temporary housing for refugees. this is a thank you video they post today instagram. kunis was born in ukraine and moved to the u.s. when she was 8 years old. the couple donated $3 million of their own money. ukraine president zelenskyy thanked the couple for their large donation. >>> will we need more booster shots? that's an what an fda committee will try to find out next month. covid will eventually become a seasonal virus like the flu. that will mean high transmission rates in the winter but slows down when the weather warms up again. also, the ceos of pfizer and moderna have both said similar to the flu, ann

we'll see what happens with foxconn.'m hoping apple has the bulk of these supply chain issues behind it this is yet just another chapter in what could potentially be a shock. you know, i just hope that it actually does not play out that way. >> you know, lowell, to that point, bank of america almost seems outdated we heard eunice talking about lockdowns in other cities. other sites can pick up the shortfall, but china has a zero tolerance policy, and it seems so easy that that could spread to other parts of the country. what would give you the optimism that the supply chain problems in china would sort of be neutral? >> the oath thing like i said, you know, that the ability to be able to use the past few months when things were a little more open there, to be able to make sure that things -- you know, processes and backups were put into place, and we'll see, you know i think this is going to be a true test because we don't want to go back to seeing those disruptions, especially since we have so many micro and macro issue

foxconn reporting earnings ahead of estimates, this after navigating chip shortages to capitalize ong iphone demand. the iphone assembler seeing in net income of $1.55 billion, and expects the full-year growth to be little changed. foxconn also seeing it has resumed some operations in shenzen after a covid lockdown halted production there. hsbc is promising to reduce its investment in the fossil fuel industry. hsbc remains one of the major funders of big oil and gas, helping fossil fuel companies raise around $52 billion, since the paris climate agreement at 2015. juliette: let's check in on markets. we continue to see this big surge from china tech after that movement yesterday, we are going to see easing in terms of regulatory headwinds. tencent, which had its biggest jump yesterday, a record of 5.6% up. the hong kong monetary authority raised its benchmark interest rate after the fed did the same, but they have said that hong kong's interbank rate may not raise with u.s. rates immediately. property stocks rising. the hang seng property index extending its gain from yesterday. we w

foxconn also, following a covid lockdown. higher yields as we head toward the federal reserve rate decision. traders already boosting expectations for the amount of fed policy tightening we might see this year. they are actually close to factoring in seven rate hikes be we haven't seen this much tightening expected and priced in since mid february, which was around the time we got u.s. api numbers coming in faster than expected. haidi: when it comes to the other end of the spectrum, we are seeing expectations for calls for rate cuts from the pboc. an analysis saying lockdowns could threaten gdp growth across half the country. we've got analysts, including morgan stanley, saying they don't expect any gdp growth for china this quarter as a result of lockdowns. we are expecting nine out of -- nine out of seven economists are expecting the rate will be cut on tuesday. shery: markets washing -- watching closely the war in ukraine. the u.s. and china held high-level talks on ukraine, with aging accusing washington of spreading what

toyota, volkswagen and apple—supplier foxconn all say they are suspending operations in the area.re faring today. hong kong recovering a little but still down 3.68%. you can see the price of oil down over 5% as well, just over $101 a barrel, and shares in mainland china also down significantly, and among the big losers are the tech stocks. joining me now is anna macdonald, who's a fund manager at amati global investors. good morning. lovely to see you. so here we are again, another wave of infection crossing china, and markets are spooked. an absolutely. they have tried to move to a more dynamic strategy when they had a rise in cases but it has still had a significant effect. foxconn shut protection for the apple iphone 13 for six days. as you have said, —— shut production. some car manufacturers have had to. the component makers in taiwan are now having to stop making things like circuit boards and touch—screen modules which go into those iphones and those cars. and there is a bit of an unknown factor here in the rise in the number of cases, the mix of delta and 0micron, we don't

apple needed to shut down production at foxconn.om: you see that with apple, but i think there is so much more as well. the domestic interdependencies of the pacific rim, that gets you to the blended series in asia ex-japan, rolling over almost four standard deviations from before this war. jonathan: tens just short of 2.1%. tom: the thing that we really haven't talked about this morning is washington. it is radio silence. lisa: right now, how much more can i do? how much negotiation is happening right now with europe to possibly take some more action on the gas front? i do wonder what they are looking at in terms of the domestic front, given how much and how quickly gas prices have gone up. that basically what everyone was talking about over the weekend. tom: here's the first headlines of the clear and present now. china same-store sales down in the first week of march. we will see a lot more of that. jonathan: and we are expected to see a lot more. same-store sales were down about 4.1% in january and february, then down 20% the fi

with apple supplier foxconn and a dozen other companies halting production the city of 17.5 million peoplehub and lynch pin in the global supply chain. eunice yoon has more from beijing. eunice, this could provide a brea breaking, if you will, on the global economy at the worst possible time. take us through the implications >> reporter: absolutely. especially because of the supply chain impact those 17.5 million people you mentioned in shenzhen are now in partial lockdown having to get tested at the one behind me. shenzhen has ordered all non-essential businesses to suspend operation until march 20th travel is restricted the city population of 17.5 million people tested for a third time apple supplier is foxconn and unicon have green lighted back-up plans. unimicron is a supplier for intel. china is fighting 9,000 cases s far this year. this is more than all of 2021. other cities are also now clamping down on outbreaks shanghai has shut schools and restricting travel it is rumored to divert international flights away from the city this week the 9 million residents where toyota has a facil

it is what we are seeing with foxconn's simply group -- foxconn's iphone assembly group. jonathan: that is the good news. futures down 0.2% on the s&p. the federal reserve yesterday. the bank of ending this morning. that decision about 50 minutes away. we will catch up with sarah hewitt of standard chartered bank on that. this is bloomberg. ♪ ritika: keeping you up to date with news from around the world, with the first word, i'm ritika gupta. the bank is almost certain to reach another milestone today. it is expected to take interest rates back to their pre-covid level. policy makers are likely to increase benchmarks a quarter-point. they are responding to a worsening inflation outlook. equivalent says reports of major progress in talks with ukraine are wrong, i day after russia said a proposal for ukraine to become a neutral country with its own armed forces could be seen as a compromise. today, quinlan spokesman said ukrainian negotiations are in no rush -- a kremlin spokesman said ukrainian negotiations are in no rush. the u.s. would propose higher tariffs on russian

this is impacting companies like foxconn which is a key apple supplier.hly 400 since late february in shenzhen but china is trying the zero covid strategy. they don't want to see the 400 balloon into many more. in shanghai, a business and financial center in china, the schools have been closed. remote learning has been triggered. shanghai residents are being told they should leave the city, pardon me, they should not leave the city. they have more than 600 cases there since late february. hong kong across from shen shen saw an outbreak of the omicron variant recently. it is believed that omicron has gone over to the mainland this is all happening as we are loosening mask restrictions and our vaccine mandates here at home because our numbers have dropped significantly but the pfizer ceo, now coming out with this recommendation of a fourth shot, if you got the pfizer or. moderator: moderna shots, those are two additional booster shots. of course some americans have been resisting while roughly the 2/3 of the population has been vaccinated. only half of thos

apple and foxconn are halting production at one of its shenzhen sites, one of which makes iphones. brady is not retiring after all. brady will return in the national football league. the tampa bay cornerback says he realizes his place is still on the field and not in the stands. i'm ritika gupta. this is bloomberg. ♪ ♪ >> we saw a russia and china come closer together, and at the same time we have seen china pretty uncomfortable with invasion of a sovereign country. i think the p.r.c. is watching very closely and has to make some tough decisions. jonathan: wendy sherman, the deputy secretary of state come on fox over the weekend. good morning. futures up on the s&p. the move this morning fades a bit. in the treasury market, too. crude back down to 103 dollars and threatening to take a look at $102. we are negative almost 6% this morning. this just in over at hoffenheim -- over at oppenheimer. "it is too soon in the year to call the ballgame in terms of how things will unfold this year." you and him are on the same page. tom: john does acute work. john does very careful work faced o

remember, shenzhen is the technology hub of china, so when you see companies like foxconn, for exampleutting down their plans, it is going to hit the major chinese companies that are based there. on top of that, jp morgan also pulling the plug on those chinese tech stocks, downgrading 28 stocks that work listed both in the united states and hong kong. those chinese adr's having the worst of it. jon: un-investable is a scary concept when you think about companies like alibaba and tencent creating loosely have a trillion dollars in value in the markets, going back to where, i guess they were, call it at their highs come in 2020, you know, it is pretty astounding to see those drops, considering this company still have large market caps. kriti: to your point, remember what a great investment these were considered at the start of 2021, that you were not only going to invest in these big tech companies, but you were getting your e.m., your cyclical, too, but to your point, you are seeing a massive decline in the tech index on the other site of the world. you are seeing this in tech broadly i

we are to explain why apple is down two and a third% because foxconn one of the biggest suppliers has to shut down due to a covid outbreak in change in china. the war in china close to nato nations as russian bombs lieutenant colonel daniel davis is here on the latest attacks on what might happen if one of the russian missiles strays across the border. we will ask him, the closing bell ringing and 49 minutes, the dow is cleaning to 13 points again, "the claman countdown" has so much more just a moment. please stay with us. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ ♪ matchi it's electric...iption. made extraordinary. ingenuity... in motion. it listens, learns, adapts and anticipates your every need. with intelligence... that feels anyth

foxconn has not said how long the factories will be shut down, but did say they'll stay closed untilen light to reopen. sting of green lights and trap. it leads us right to ali rasmus. everything everybody behaving for your alley. for the most part, you know, he's he green lights. green roadways is what that translates to on the traffic maps and we're going to show you the maps in the south bay to start off no major problems, but you do see some of the regular slowing. that we typically see on 2 81 on one in the south bay around san jose, but no specific crashes to tell you about. so that's the good news. there is a report of a crash north londono one at mill brace. this is right around sfo. it's off to the shoulder, but you do see that solid red that is bumping up right there. so that's something to keep an eye out for if you are headed to the airport, san mateo bridge has slowed down considerably. there's no problems to tell you about on the peninsula but just looks like a lot of folks trying to get to where they are going. so just keep an eye out for that and give yourself some ex

the entire foxconn factory is shut down. they're not producing.cts foxconn and affects apple here. >> i read an article recently your working title is capitalist. you go on to say you love money. i want to make a lot of money. it sounds decidedly politically incorrect. i love that you say it. why is it important that you say that? >> i think we sometimes expect women to say, i'm just here to help people. i'm here to help people get rich. literally my job title. i'm a capitalist. i cannot apologize for that. charles: i apologize for yelling at you sarah. you've been fantastic. i hope you come back soon. >> thank you. charles: see you soon. folks, used car prices continue to sky rocket. people are making money to flip used cars. another side hustle. can't wait to talk about it. senator elizabeth warren slamming all hustle especially energy prices oil companies blaming them for gas price. wait until you hear her plan to punish companies for making profits. that's next. since i left for college, my dad has gotten back into some of his old hobbies. and

foxconn has suspended production at two of its factories in shenzhen and is now reallocating operations to other sites. shenzhen is under lockdown order following a surge in covid cases. foxconn has not said how long the factories will be shut down, but said it will remain closed until local government gives it the green light. well, there's a new problem tied to the disastrous camp fire, which broke out in butte county in 2018, the mayor of paradise has issued a public plea to local residents, telling them to stop threatening pga workers. those utility crews are there to lay 200 miles of underground power lines as part of pg knees, wildfire safety program, but many paradise residents are angry that pgd equipment was found to have ignited the camp fire, which killed 85 people and destroyed most of their town. the mayor of paradise posted this message on social media, saying, i understand and an equally upset that they were the cause of burning our town down, but they are working as hard as they can to finish their project. it is not acceptable to threaten their employees. we are a bette

foxconn has not said how long the factories will be shut down, but it say they'll remain closed until local government gives the green light. well some people are heading to ukraine to help others are returning after spending a week in eastern europe, helping refugees and family members reach safety ktvu magus spoke with two men who recently returned from that region. you know all of the fields. right it's all in the middle of the night, three days into the russian invasion of ukraine, valhol marchenko drove his wife and five year old son martin on this bumpy, dangerous road, part of their long journey as they fled from odessa, where martin gets specialized care for autism. now safe at home in san jose home, kenko, an apple employee and coach for the junior sharks has one regret. i left would you have thought of fighting of staying still thinking about it as the decision to return weighs heavily, he's donating to a number of humanitarian aid groups. i don't know if that's enough. one group stationed at the border of ukraine and romania is cash for refugees. sunday was alex furman's fi

company like apple who has been able to weather the storm of supply chain issues, but if you see foxconnur electronic products. and today's new coronavirus case numbers won't do anything to boost confidence. at almost 5,300, that's the highest number in two yea rs. but despite calls from some scientists for china to coexist with the virus like other nations, the government has made clear mass lockdowns are still on the table. shelley phelps, bbc news. markets in shanghai and hong kong down on the story, the hang seng down 3.5%, i'll be talking to a leading markets analyst about the impact of this in about 15 minutes. a bbc investigation has uncovered new evidence about a corrupt deal that made roman abramovich�*s fortune. the chelsea owner made billions buying an oil company from the russian government and then selling it back for 50 times the price. roman abramovich was sanctioned by the uk government last week because of his links to vladimir putin. he denies being close to the russian president and his lawyers say allegations of corruption are false. richard bilton reports. this is ru

company like apple, who has been able to weather the storm of supply chain issues, but if they see foxconnts. many of our electronic products-— many of our electronic roducts. �* ., ., j, products. and today's new coronavirus _ products. and today's new coronavirus case _ products. and today's new coronavirus case numbers| products. and today's new- coronavirus case numbers won't do anything to boost confidence. at almost 5300, thatis confidence. at almost 5300, that is the highest number in two years. but despite calls from some scientists for china to coexist with the virus, like other nations, the government has made clear mass lockdowns are still on the table. shelley phelps, bbc news. you are up—to—date, thank you for watching. more of you should spend the day dry on tuesday. there will be some wet weather around admittedly, that is going to be mainly towards parts of western scotland and later northern ireland. but even as we start the day, one or two isolated showers to ease in parts of england. that is from this weather forjust working its way northwards. a little ridge of high pre

one of apple's largest suppliers, foxconn, closing two of its plants.toyota and volkswagen plants also shutting down tonight. >>> when we come back, why dolly parton is saying no thank you to that honor and why. hey, i get it, commitment can be scary. but not when you're saving up to 15% with subscribe and save at amazon. you get free repeat delivery on your favorite items and if things don't work out, you can always cancel. seriously, no one will judge you if you call it off. ok! learn all the ways to save with amazon. looking to get back in your type 2 diabetes zone? once-weekly ozempic® can help. ♪ oh, oh, oh, ozempic®! ♪ ♪ oh, oh, oh ♪ ozempic® is proven to lower a1c. most people who took ozempic® reached an a1c under 7 and maintained it. and you may lose weight. adults lost on average up to 12 pounds. in adults also with known heart disease, ozempic® lowers the risk of major cardiovascular events such as heart attack, stroke, or death. ozempic® helped me get back in my type 2 diabetes zone. ozempic® isn't for people with type 1 diabetes. don't shar

foxconn says it has resumed some operations in shenzhen after a lockdown halted production. its financing of the fossil fuel industry, sending a warning to its oil and gas clients. the move is in line with the bank's to a net zero emissions target. hsbc remains one of the major funders of big oil and gas, helping fossil fuel companies raise about $52 billion. a swedish investment firm has agreed to buy a private the company for $7.5 billion in the biggest takeover of a firm by appear. they are financing the deal with one million new ordinary shares and the remainder in cash, taking advantage of the stock performance since its ipo in 2019. the transaction is set to close in the fourth quarter. we have more to club -- more to come. this is bloomberg. ♪ shery: the beijing policy put is alive and well, pledges and written commitments provided historically for equity markets. they may need more than just words. let's bring in yvonne man and david ingles. not just words, they have written commitments, so how strong of a signal is this? yvonne: strongest yet we have heard from offi

the headlines are foxconn and apple.r it doesn't matter but on an inventory level, do we really know the stockpiles in china and i would suggest that we don't. jonathan: i would agree and looking forward to the federal reserve this wednesday. remember that line from bill dudley? he said the fed projections are in fantasyland. tom: jp morgan with a good team of people this weekend when out to 5.4%. jonathan: and we look at the dot for next year. lisa: do we think -- people care but they care for different reasons than using that as gospel. they are using that as a guide for what they seem to be targeting is manageable. you can come out and say it's not going according to your plan. maybe you've got to adjust your plan. jonathan: did anyone take the fed plan as gospel? it's about reaction functions and all of the above and we are about to see a federal reserve that needs to lift that dot plot. jonathan: lisa: did you see janet yellen say that she said inflation will be uncomfortably high for 12 months at least? what happen

dani: should also mention foxconn also said they will resume limited output in shenzhen of iphones. the concern of covid was feeding into all of this. we will get more on the china story and the broader risk asset story. we will be speaking with barclays cio william hobbs. those are the conversations we will have next. this is bloomberg. ♪ manus: it's "bloomberg daybreak: europe." there is a move in the equity markets in china from the hang seng tech. state intervention is official. it is about providing stability, about val to keep things steady in the equity markets. it is about pledging support for overseas stock listings as well. dani: you see their h.s. tech jumping the most since it was created in 2015. let's get straight to our guest, it is william hobbs, chief investment officer at barclays. what a time for you to be joining us. we're looking at tech stocks in hong kong. what do you do with equities in china right now? william: it is an interesting point. can equities -- china equities at the moment are interesting. the big question with china was the one being asked last ye

foxconn has suspended operations there.antine restrictions for inbound travelers, china has more covid cases than it did all of last year. my interpretation of this, you lock down, you get less immunity, right? david: of course. you can't trust their stats anyway one way or the other. lauren: that too, you have to learn to live with it. that is what we're trying to do here. david: gold. lauren: let's look at some of the gold socks, you see the price of gold is down $22 as yields rise. there is 97-point% chance according to cme group that the fed hikes rates by quarter point on wednesday. newmont is up following gold down. david: nice run-up last couple weeks. lauren, thank you very much. >>> the white house is phasing questions what is being done to boost domestic oil production democrats in congress are looking at their fallback, more taxing. tax big oil companies profits. edward lawrence at the white house. they love to spend and love to tax, lawrence. will this decrease oil production rather than increase it? there is no

well, right now we are keeping our eyes on - we are keeping our eyes on foxconn, right now they haveis these earnings will reveal is the high cost of inflation in addition to supply chain disruptions and also expecting that the earnings will have dropped about 5%, and again this isn�*t taking into account the ukraine russian war, the impact on that as well as the closedown of their factories in shenzhen. fii< closedown of their factories in shenzhen— closedown of their factories in shenzhen. ., ,, , ., shenzhen. ok monica, thank you for the latest _ shenzhen. ok monica, thank you for the latest on _ shenzhen. ok monica, thank you for the latest on markets - shenzhen. ok monica, thank you for the latest on markets in - for the latest on markets in asia. many are counting the pennies as the cost of living climbs around the world but what do you do when you are struggling to work out your finances? well, many seek financial advice. karen barrett, is the founder and chief executive of financial advice platform, unbiased, and shares her top tips as part of our ceo secrets series. the word

toyota and volkswagen and apple supplier foxconn halted prod production. >>> snl's pete davidson willight for blue origin the launch is scheduled for march 23rd dom, all that destruction, i guess you call it, with his current girlfriend and her soon to be ex-husband will die down that is all the tabloid stuff out there right now. >> i can't keep up i just know he is a celebrity and he's in a relationship with a famous person and now going to space. >> that's all we know. >> frances rivera, thank you very much. >>> still to come on the show, two days of peace talks doing little to slow down the russian offensive in ukraine molly hunter is live on the ground in ukraine. molly. >> reporter: i'm in lviv i will have all of the latest on peace talks and overnight attacks in kyiv and the situation in the west of the country when "worldwide exchange" comes back much sense as playing hide-in-seek... ready or not, here i come. ...in the desert. [sighs] really guys? t-mobile has more 5g bars in more places than anyone. and now, when you switch, you can get iphone 13 on us, on every plan. you're

you know apple, toyota, volkswagen, foxconn behind a lot of those apple iphone production, all kind of shuttered for the time-being. how big of an impact does this get to be? >> it happened virtually overnight. that is down for the confabbingtry in shinzhen, which is the silicon valley, home to 17 1/2 million that virtually happened overnight. apple didn't have the flexibility to shift production elsewhere and this is probably the most severe cases in fact from what i see doubling of cases in china, something they haven't seen in terms of the spread since 2019 and the initial wuhan outbreak but surprisingly you had chinese, some of the economic numbers, gdp-related numbers coming out much stronger than anticipated last night. but if the thinking is, look if china can turn the spigots, stimulus spigots like 2008 spend $200 billion to prop up the economy they should be doing that now. there are expectations the national team will go in to buy some beaten down stocks. national team being beijing related and maybe some interest rate cuts at some point. neil: you know, ray, i was looking at

it is also a major tech hub located in the south of china, and we've learned that foxconn, the majorovid-19 situation. meanwhile, we continue to monitor the situation in shanghai, the financial capital of china, the mega city, home to almost 25 million people. cases are rising there. schools are closed, and within the last hour or so, we've learned from the aviation authority in china that they plan to divert more than 100 international flights that are meant to touch down in shanghai to other domestic chinese cities. that's going to start starting march 21st. we got a statement stating this. quote, china's economy could be severely hit again. the outbreak has now reached almost every part of china with significant economic importance, unquote. john, despite the economic toll, china won't quit dynamic zero covid. back to you. >> covered a lot of ground. thanks so much. we appreciate that. why can't they learn to live with covid? in just a moment, we'll head back to hala gorani. but we'll sign off this hour with the ukrainian national anthem heard on radio stations around the world. ♪

the fed raising interest rates 67 times this year of last week, we're little bit stressed because foxconn, apple's big manufacturer in china was shut down for weeks time towards covid. we're all fingers crossed. let's hope that it doesn't spread like wildfire in china after they've kind of contained it with stay at home. kind of policies. the batman made 300 million dollars. now that's in should know because it didn't playing in china because of covid. last week. 43 1% of all figures are shot but a big hit movie and it's nice to see you again. things are starting to return normal fingers crossed with ukraine and russia and english cross with covid. >> i like the second story. we have kuz. it involves netflix and we'll track keeps trying to get my log in to netflix. i won't do it, but a lot of people trying to get it from me you just see, we're not alone about. i know a lot of people do. and i guess netflix was going to cracking down on if they're actually looking to make a little money off of that. >> and we've known about this for years and years and years. and i think we all know someon

suspending operations in shenzhen after they imposed new measures to curb the spread of covid-19 foxconne have adjusted the production line to minimize the potential impact joins for more is steve kovac. how big of a deal are these plans for these companies? >> they're a big deal in the long term. right now, the shutdown is only going to be for a week, and analysts are saying, including katie huberty of morgan stanley, we don't need to worry about this right now they can shift production to other cities that aren't shut down and only about a fifth of iphones and other gadgets are made in this facility. unless the shutdown extends to other cities then we have to worry. >> mike, there's also some chatter that maybe some of these factories could shift to places like saudi arabia, for instance, when it comes to making consumer electronics. obviously a long term issue. in the near term, implications for tech stocks. what do you think? >> as a general rule, i think over the several years, let's say back in the entire iphone era, it's generally paid not to get too negative on apple when you hea

foxconn shutdown some facilities in shenzhen. they're diversified. production we're continuing to see delays trickle down that might go into the holiday season depending on how covid cases spike through the remainder of the year. >> the holiday season, even though it's only march right now? >> we'll see companies now are ordering and forecasting their inventory more ahead of time than ever before and so that's something that i think covid has had a large impact on when it comes to actually producing products in asia >> and would you say the overall so far let's say up to this point of the week, we've seen the lockdowns continue to intensify or have they come off the boil a bit >> they're starting to come off the boil, fortunately. they have an intense lockdown policy there but fortunately we're starting to see light at the end of the tunnel >> are there any industries that are completely unexposed that those kinds of calls you're happy to be involved with where you can say hey, at least you don't have to worry about this >> i think it depends where t

restricted travel and public transport apple suppliers say they have activated backup plans there foxconnmake the iphone said, due to our diversified production in china, we adjusted the production lines to minimize the potential impact china is fighting its biggest covid outbreak since the pandemic at 10,000 cases, china has now reported more cases this year than in all of 2021. other chinese cities are curbing imposing covid curbs shanghai shut schools and rumored to divert international flights.vel. beijing has canceled big events and is now urging residents not to travel. a shanghai epidemiologist told local reporters a vast majority. in fact, just in the past fe of the cases are stealth omicron and china could see an exponential rise in some cases the outbreak is challenging china's zero covid policy. in fact, just in the past few days, the authorities approved for the first time the public use of rapid antigen tests as well as a foreign treatment, pfizer's covid pill. shep >> eunice yoon, live in beijing. >>> the brooklyn nets basketball star kevin durant calling out new york city m

apple supplier foxconn has back-up plans to mitigate disrupt disruption china is fighting what is nowits biggest outbreak of covid-19 since the pandemic. other cities are clamping down for example, shanghai shut schools. it is rumored to divert international flights. later this week, 9 million residence where toyota has ordered residents to leave their homes only to get groceries every other day. dongguan in the south halted bus and subway services. also dine-in services. beijing canceled large events and urging residents not to travel shanghai epidemiologists told reporters that majority of cases are stealth omicron. they could see an exponential rise in cases. the fact we are seeing a surge of cases is having economic implications some economists are concerned about the impact on consumer spending and the economic costs could be 0.8% a lot of people now concerned about not only the disruption to the economy, the chinese economy, but the supply chain. guys >> eunice, the question is lockdowns in those cities until march 20th that's a week. one week to see what happens how are people

the worst covid outbreak since 2020, very bad for china continued focus on the covid policy, foxconnhe reality is the u.s.-listed companies, especially the once that are variable interest entities, which are a sleight of hands to circumvent chinese law preventing foreigners from in investing in internet companies are not sustainable structures they're just not so no, people should not be investing in these companies they should be finding equivalent companies or other ways to get exposure to china if they want it but they have to be careful right now because it's got some serious headwinds. >> david, i can't quite figure out what's going on. china, russia, they had that pact they signed pre-olympics, a 5,400 word document they put out. what are the chances that in this war they align themselves somehow with russia, and what does that mean for their stocks or stocks in general >> yeah, i don't think you're going to see a lot of direct alignment of china with russia europe and the u.s. are much more important to china than they are to russia i think you're going to see them trying to s

one million people back into lock lockdown and the shenzhen province, a lot of industry there like foxconn, which makes apple computer components and so forth. their case numbers are testing this . there's no tolerance approach they have dr. bhattacharyya. there's no sign of countries w willing to pivot to living with the virus. what does this tell youth about zero covid as a strategy? >> it was a fantasy from the beginning. it was a lie told even to the american people implicitly we get rid of it that lie has had terrible consequences. and you know, it's i'm praying for the people of china. dr. commentariat , thank you . great to see you tonight . and final thoughts when we return back . good back and suddenly be for the bombshell moment no one saw coming. they just walked off the stage with 85% fox. why are so many people turning to superbikes? because it be crystals give you the energy and blood pressure support you want from real big without the b.k. super and i swear by it, it gives me more healthy energy to keep up with my schedule in support of ... len pompeo >>> i've never really b

i think one of the main stories that has come on the back of this shutdown has been foxconn and the impactchain. what is the readthrough into american companies, corporate america? tom: china is the second biggest economy in the world, so bad news for china is now bad news for the rest of the world. one of the dynamics, china is a center for production and a driver of demand. some of the biggest u.s. companies from appleton nike to mcdonald's. but the consequent is go further than that. the world continues to struggle with supply chain snarl ups. shenzhen, one of the world's busiest ports and industrial centers, has just locked down. clearly, that is not good news for supply chains, and that hasn't locations for the inflation outlook as well. guy: always smart analysis. i appreciate your time. thanks very much, indeed. tom orlik on what is happening in china and potentially the obligations for china where it to be dragged into the ukrainian conflict. coming up, the war has already had an impact on supply chains. we have already started to see that coming through. we've now got this chinese

foxconn has resumed partial operations. we are seeing some of these restrictions being rolled back.theless, the impact is going to be significant. we learned certainly during the pandemic the impact that these port shutdowns can have in terms of supply chains. let's talk about the potential impact in detail and what it is going to mean in the united states. we are joined by the executive director of the port of los angeles, gene seroka, in new york. we have seen this movie before. we have seen these shutdowns happen. what impact do you think it will have this time? gene: good afternoon. we are watching this very closely, keeping up with colleagues overseas, but we are also watching the impacts of the closing of these factories. the pearl river delta area of container ports allows us to move that cargo around, so the complex in and around shenzhen, we can move to the west side or up the coast. but it is the factory segment that we are going to be watching. the pause will be minimal compared to what we have seen in the past, but when they come back to work, they are going to need to c

foxconn have shut production for their apple apple iphone 13 for six days.nst other quanta. that could be one of the issues, and obviously we don't know how delta is going to play out with that. one of the other reasons, though, that the tech names in particular are being so hit. it's notjust these supply chains, it's also that there are some moves to delist some chinese—based tech stocks in the us, and consequently they're trying to relist. well, they have been relisting in hong kong, which means that those the tech names in hong kong are down a long way, a long way, 11% on monday. that's it. back to you. some breaking news from kyiv. four people were killed in tuesday morning air strike on the ukrainian capital. we had previously heard that the number had been to, but vitali klitschko saying that four people are confirmed to have died and adding that a curfew has been imposed on the capital from this evening until thursday morning after these residential buildings were heads, so the sad news that that figure has been revised up to four people. many ukraini

in lockdown there, and the city of shenzhen of course which is the big technology juggernaut area, foxconn shutdown and it's causing some supply chain constraints right now. kelly o'grady on that part of the story at the port of los angeles, kelly? reporter: good to see you, neil. yes, this is china's worst covid outbreak since early 2020 and it's wreaking havoc on a tech manufacturing hub. officials are pursuing a covid strategy and they have shutdown shenzhen, locking down over 30 million people in that city alone. now the cost to ship a standard container from china to the west coast rose over 1,100% during the pandemic. you can see that cost has started to rise again in recent weeks, spurring fears about an already-fragile supply chain. now those shipping costs impacted the price of goods dramatically in some cases. the costs to import a couch from china rose over $500 at the same time inflation hit a 40 year high. the international chamber of shipping representing over 80% of the world's merchant fleet is sounding the alarm telling fox business, the reinstatement of harsh travel rules

foxconn says it had stopped operations after the city was locked down due to an increasing number of's only restarting production where it has production facilities and employee housing together. facts can produces iphones, ipads and macs for apple. i'm pam cook. that's a look at your dollars and cents. right pam. thank you time now. 7 50. let's go back to a very busy south castaneda a lot happening in our community. yeah you don't want to let you know a little bit more about this part situation now bart service is running from a west dublin station to the rest of the state system. we had an incident near the dublin pleasanton station where train hit and killed someone who was on the tracks. we haven't found out anything else, except there's an investigation going on. it looks like the person has been taken away. however, they're still doing a wayside inspection and also attracts site inspection. and before they can let this train go. and if you are going to part this morning, the important thing is you cannot go to the dublin pleasant in station and get service anywhere on the syste

foxconn who make the iphone have relocated production at two of its factories. exact cause of the outbreak is unknown but some point the finger at neighboring hong kong, which is struggling with a huge surge, and now china's strict covid zero policy will now be tested as the country battles the fast spreading ba.2 variant. >> lama, thanks very much. >>> we will switch gears to march madness. the 2022 ncaa tournament kicks off tonight with a pair of first four match-ups. you know i'm going to watch them. my alma mater, texas southern, they're taking on fellow number 16 seed texas a&m corpus christi. insiders have my tigers picked as favorites. tsu no stranger to the first four and they have won first four games in 2018 and 2021 and they lost the other two that they've been in in 2014 and 2003 when the tournament was just 65 teams and texas a&m corpus christi islanders, this is their second second tournament appearance. tipoff is at 6:40 eastern in dayton. you know where i'll be. >> nice and early for you. >> they did that for you. >> nice and early just for me. o

. >>> foxconn says it's mostly back to normal following covid-related disruptions. toni sacconaghi.uce more each year toni, good to see you this morning. >> thanks for having me. >> on the production side t rule in general seems to be with app thal you kind of buy reports of supply disruptions because they tend not to really underline the longer-term story. have we seenanything that should cause us concerner production and iphone supplies and things like that >> well, look. i think it's important to realize apple has been contending with this for several quarters now their total revenues were impacted by more than $6 billion because of supply chain constraints that everyone is facing in the industry they expected that to be much better this quarter or less of an impact. obviously the covid rise create an impact. it feels as though apple has been able to manage it on it specifically it is dynamic. apple has hundreds of suppliers in other parts of china, and so, you know, this is a dynamic situation, but i think it is important to put in context that the broader supply chain availabil

show me apple, please i'm asking for that because apple supplier foxconn is now resuming normal operationsoming after a brief disruption last week, because of a covid infection. another look at oil yet we made it, we're up to $110 per barrel up $5 as of today. it was a staple of nearly every trump rally. remember this? build the wall. roll it. >> [chanting] stuart: he led the chant, now, texas' land commissioner wants to finish the wall. his name is george p. bush, part of a very famous political family. he's going to be on the show, build the wall, mr. bush? we'll ask him. and so is former president trump yeah, he joins me live at 11:30 eastern, today, on this program. ♪ ♪ no two dreams are the same. but there is one van equipped to handle them all. for over 120 years, mercedes-benz vans have been built, upfitted and ready to go. because we believe dreams - should never stay that way. at xfinity, we live and work in the same neighborhood as you. we're always working to keep you connected to what you love. and now, we're working to bring you the next generation of wifi. it's ultra-fast. fa