Apple

After Weeks of Being Locked Down, Workers Clash With Guards at an Apple Supplier’s Factory in Shanghai

A worker looks past a fence in a compound during a Covid-19 coronavirus lockdown in the Jing’an district of Shanghai on May 25, 2022. HECTOR RETAMAL/AFP via Getty Images By Bloomberg May 27, 2022 1:30 AM EDT Violent clashes, mounting infections and vacant factory floors: the turmoil that’s engulfed tens of thousands of workers at…

CHINA-HEALTH-VIRUS
A worker looks past a fence in a compound during a Covid-19 coronavirus lockdown in the Jing’an district of Shanghai on May 25, 2022.
HECTOR RETAMAL/AFP via Getty Images

May 27, 2022 1:30 AM EDT

Violent clashes, mounting infections and vacant factory floors: the turmoil that’s engulfed tens of thousands of workers at an Apple Inc. supplier in Shanghai is a troubling symptom of China’s extreme efforts to keep factories humming during its worst Covid outbreak since 2020.

Trapped in a bubble for almost two months, locked down by government decree and walled off from the outside world, Quanta Computer Inc.’s mostly low-wage workers are demanding more freedom and beginning to revolt against their overseers, people familiar with the matter said, asking not to be identified for fear of reprisals.

Hundreds of workers have clashed with guards. A large contingent, worried that their supplies would run out should the lockdown persist, flooded past guarded isolation barriers earlier this month in search of daily necessities, according to several employees. Over the past weekend, media reports went viral of a large group storming a dormitory housing Quanta’s Taiwanese managers after a dispute over the prolonged lockdown and pay — triggering an hours-long standoff confirmed by several workers within the compound.

The incidents underscore how sentiment is souring on a lockdown that’s up-ended the lives of 25 million Shanghainese since March.

“People are getting frustrated and tired of these controls,” one of the workers said. “That’s inevitable, especially when there is no timeline on when all this will end.”

Read More: Shanghai’s COVID-19 Lockdown Pushes Residents to the Brink

Quanta and Apple representatives declined to comment for this story. In April, Quanta said in a filing to the Taiwan exchange that it was halting production at its Shanghai site and adopting measures in compliance with the local government’s regulations to protect its staff.

The upheaval at one of the most prominent manufacturers operating out of the affluent eastern Chinese region adds to the growing tumult across society and industry over virus curbs. The speed with which the situation escalated in Shanghai — home to marquee names from Tesla Inc. to General Motors Co. — is a stark warning to policy makers trying to stamp out infections through unprecedented quarantine measures. Worker unrest risks disrupting a vast manufacturing sector at a time China’s struggling to meet its official 5.5% growth target.

It’s not just laborers. In past months, college students in Beijing have rebelled; housing compounds have staged protests; and social media users posting critical videos have tried to outwit an army of censors.

Yet the chaos at Quanta exposes a more consequential breakdown in Beijing’s Covid Zero strategy: China’s mandarins have insisted that the world’s No. 2 economy can keep going amid lockdowns, through measures like those now in force at the MacBook maker. The reality is far more complicated.

Travelers wait for their trains at Hongqiao Railway Station in Shanghai, China Sunday, May 22, 2022.
MING DE/ Feature China/Future Publishing via Getty Images

The economic impact of China’s zero-COVID strategy

It’s unclear how widespread factor

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Apple

South Africans can now buy Apple, Alphabet shares as digital tokens on Luno

From early August, Luno, a cryptocurrency and digital investment platform, will allow its users in South Africa to invest in tokenised stocks and exchange-traded funds (ETFs), making global equities like Apple and Alphabet accessible for as little as R20 ($1.13). The move positions Luno as a multi-asset investment platform and marks what it says is

From early August, Luno, a cryptocurrency and digital investment platform, will allow its users in South Africa to invest in tokenised stocks and exchange-traded funds (ETFs), making global equities like Apple and Alphabet accessible for as little as R20 ($1.13). The move positions Luno as a multi-asset investment platform and marks what it says is a first-of-its-kind offering in South Africa’s fast-evolving financial landscape.

Tokenised stocks are digital representations of real shares, backed 1:1 by actual securities. By enabling access via rands, Luno is removing longstanding barriers such as currency conversion costs, high fees, and trading-hour restrictions for retail investors in emerging markets.

“Until now, access to global financial markets has been locked behind red tape and legacy systems,” said Christo de Wit, Luno’s country manager for South Africa. “With tokenised stocks, we are offering South African investors easy access to global investments any time of the day or night.”

The platform will support over 60 U.S. companies and market indices, including Apple, Alphabet, NVIDIA, and the S&P 500. These tokenised products are made available through partnerships with infrastructure providers like Kraken’s xStocks and Backed Finance, which Luno says will ensure regulatory compliance, secure custody, and alignment with global financial standards.

How Luno tokenised stocks work

Customers can start investing with as little as R20 ($1.13), even in companies like Apple and Google. Instead of paying nearly R4,000 ($226) for a full Apple share, they can buy just a piece. These tokens are digital versions of real stocks, and customers trade them through blockchain. 

“This represents a fundamental shift in how we think about investing,” explained de Wit. “We are not just digitising old processes, we are reimagining what is possible when you combine improved technology with investor needs.”

Launched in 2013, Luno has grown to become one of Africa’s leading crypto exchanges, but now it’s adding tokenised stocks and ETFs. South Africa remains one of the continent’s most active crypto markets. Over 5 million South Africans are estimated to own crypto, with digital asset ownership expected to grow by nearly 8% annually through 2031.

Luno competes with platforms like VALR, Binance, AltcoinTrader, and wealthtech apps like EasyEquities and Satrix that focus mainly on traditional stocks and ETFs. 

Still, the expansion into tokenised equities could bring Luno under closer scrutiny. As digital tokens backed by real-world financial instruments, these offerings may fall within capital market regulations, including investor protection and transparency requirements. South Africa’s Financial Sector Conduct Authority (FSCA) is already in the process of licencing crypto asset providers and building a clearer framework for digital securities.

Mark your calendars! Moonshot by TechCabal is back in Lagos on October 15–16! Join Africa’s top founders, creatives & tech leaders for 2 days of keynotes, mixers & future-forward ideas. Early bird tickets now 20% off—don’t snooze! moonshot.techcabal.com

Sakhile Dube Associate Reporter

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Crypto summer on 1xBet: iPhone 16 Pro Max, Samsung Galaxy S24 Ultra, Apple Watch Ultra 2 and other gadgets in the draw

Updated 18 July 2025 at 10:54 IST The rapid pace of cryptocurrency adoption has a significant impact on our daily lives. While in 2010, paying for two pizzas with bitcoins was a meme within the geek community, today you can use digital coins in online stores like Gucci, Balenciaga, and Shopify, as well as deposit

Updated 18 July 2025 at 10:54 IST The rapid pace of cryptocurrency adoption has a significant impact on our daily lives. While in 2010, paying for two pizzas with bitcoins was a meme within the geek community, today you can use digital coins in online stores like Gucci, Balenciaga, and Shopify, as well as deposit
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Apple

House Republicans block Democratic maneuver to force release of Epstein files

House Republicans on Monday night voted against attaching a Democratic amendment to landmark cryptocurrency legislation that would force the Justice Department to release the Jeffrey Epstein files.Why it matters: It’s the outcome Democrats anticipated, and one they plan to gleefully cite as President Trump continues to grapple with the MAGA fallout over the DOJ’s handling

House Republicans on Monday night voted against attaching a Democratic amendment to landmark cryptocurrency legislation that would force the Justice Department to release the Jeffrey Epstein files.Why it matters: It’s the outcome Democrats anticipated, and one they plan to gleefully cite as President Trump continues to grapple with the MAGA fallout over the DOJ’s handling of the documents.”The question with Epstein is: Whose side are you on?” Rep…
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Microsoft trolls Apple’s new Liquid Glass UI for looking like Windows Vista

Some of Microsoft’s social media accounts recently poked fun at the upcoming “Liquid Glass” user interface design language Apple unveiled at WWDC this week. Although the Cupertino giant has hailed the update as a major innovation, many immediately began comparing it to Microsoft’s nearly two-decade-old Windows Vista UI.Read Entire Article…

Some of Microsoft’s social media accounts recently poked fun at the upcoming “Liquid Glass” user interface design language Apple unveiled at WWDC this week. Although the Cupertino giant has hailed the update as a major innovation, many immediately began comparing it to Microsoft’s nearly two-decade-old Windows Vista UI.Read Entire Article…
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