Western markets

Shein makes rare job cuts in Singapore as London IPO remains in limbo

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Shein makes rare job cuts in Singapore as London IPO remains in limbo

Chinese-founded fast-fashion online retailer Shein is laying off about two dozen employees at its Singapore headquarters, the company said on Wednesday, as the e-commerce firm restructures part of its business amid doubts about its initial public offering plan in London. More than 20 employees are affected by the lay-offs that are part of a restructuring … Read more

Foxconn sees record April sales with 19% jump, offers positive Q2 outlook despite ‘off-peak season’

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Foxconn sees record April sales with 19% jump, offers positive Q2 outlook despite ‘off-peak season’

Taiwan’s Foxconn, the world’s largest contract electronics maker and the biggest assembler of Apple’s iPhone, reiterated on Sunday it expected a rise in second-quarter revenue, and reported record sales for the month of April. Foxconn said in a statement that this year’s second quarter “remains a traditional off-peak season, and major products are entering a … Read more