Company Briefs: Apple Shanghai Stock Exchange HSBC
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Apple
Apple is planning to cut the output of its iPhones and AirPods as the Ukraine crisis and looming inflation start to weigh on demand for consumer electronics, the Nikkei reported yesterday, citing sources. The firm plans to make about 20 per cent fewer iPhone SEs in the next quarter, or lower production orders by about two million to three million units than originally planned, due to weaker-than-expected demand, the newspaper said. The United States tech giant also reduced orders for its AirPods or wireless headphones by more than 10 million units for all of this year, said the Nikkei.
REUTERS
Shanghai Stock Exchange
Shanghai's stock exchange will provide online services over initial public offering approval meetings, consultations and roadshows as half of the city faces a lockdown in phases to stanch a spiralling Covid-19 outbreak in the Chinese financial hub.
The exchange will extend the time window for listed companies' statement releases to 11pm, according to a bourse statement yesterday. Companies that had reserved an earlier time slot to release 2021 full-year earnings can apply to postpone it up to the April 30 deadline, which remains the latest date for a release.
BLOOMBERG
HSBC
HSBC Holdings has edited research reports from its analysts to remove any references to a "war" in Ukraine as the lender resists pressure to follow peers in closing its business in Russia, the Financial Times reported, citing two unidentified sources. HSBC committees that review externally published research and client communications have amended multiple reports to soften the language, including changing the word "war" to "conflict", the newspaper reported yesterday. A source close to the bank said the issue was extremely sensitive because HSBC has about 200 staff in Russia.
BLOOMBERG
