Foxconn’s Xingwei agrees to sell its entire stake in embattled Chinese chip conglomerate Tsinghua Unigroup for ~$771.79M (Meg Shen/Reuters)

Reuters:
Source: Foxconn expects its COVID-hit Zhengzhou plant to resume full production around late December to early January, but uncertainties remain  —  Apple supplier Foxconn (2317.TW) expects its COVID-hit Zhengzhou plant in China to resume full production around late December to early January …

TechCrunch:
Indian conglomerate Vedanta and Foxconn sign a $20B deal to build a semiconductor unit in the coastal Gujarat state, home to Prime Minister Narendra Modi  —  Indian oil-to-metals conglomerate Vedanta and global manufacturing giant Foxconn have signed a memorandum of understanding …

Bloomberg:
Foxconn reports Q3 revenue up 24% YoY to ~$54.8B, net income up 5% YoY to ~$1.2B but below estimates, and warns consumer electronics revenue will fall in Q4  —  Hon Hai Precision Industry Co., maker of most of the world’s iPhones, warned consumer electronics revenue will fall this quarter …

Debby Wu / Bloomberg:
Taiwan pledges to work closely with the US and other allies to implement “very firm” export controls and prevent China’s military from acquiring advanced chips  —  Taiwan pledged to work closely with the US and other allies to prevent China’s military from acquiring state-of-the-art technology …

Reuters:
Spain fines food delivery app Glovo €79M for allegedly denying 10,600+ riders a labor contract since the country’s “riders law” came into effect in August 2021  —  Spain has fined Delivery Hero’s (DHER.DE) local business Glovo 79 million euros ($78 million) …

Eduardo Baptista / Reuters:
Chinese government tenders show important institutions, such as Tsinghua University, rely on AI chips from Nvidia and AMD, which are now under US export limits  —  High-profile universities and state-run research institutes in China have been relying on a U.S. computing chip to power …