How China's lockdowns are taking a toll on global companies
CNN
Virtually every corner of business has been disrupted in China as harsh lockdowns continue across the world's second largest economy. Now big brands are revealing the damage to their bottom lines.
In recent weeks, dozens of mainland Chinese cities, including the financial hub of Shanghai, have been locked down as authorities work to stamp out the coronavirus. For industries ranging from Big Tech to consumer goods, that's destroying both supply and demand — and giving executives another major headache.
Many companies had just run up millions, or billions, of dollars in losses due to the war in Ukraine, which led to a massive — and costly — corporate exodus from Russia.
5 things to know for June 10: European elections, Apple, Hostage rescue, Immigration, Trash balloons
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President Joe Biden warned against a streak of “semi-isolationism” in the US as he stressed the importance of alliances during a symbolic visit to the Aisne-Marne American Cemetery on Sunday, honoring the thousands of Americans who died in World War I at a site former President Donald Trump skipped during a 2018 visit to Paris.