By Samuel Shen and Andrew Galbraith SHANGHAI (Reuters) – Foreign investors are piling into China at the start of 2022, seeing it as a haven from the inflation, growth and pandemic problems plaguing most other markets. Despite seeing returns last year eroded by Beijing’s regulatory and policy purge, global fund managers are pumping money into…
HONG KONG (Reuters) – China Evergrande Group will hold an investor call at 1300 GMT on Wednesday together with financial advisers, sources said. Executive Director Siu Shawn and a member of the property developer’s risk management committee, Chen Yong, will join the call, they said, speaking on condition of anonymity. (Reporting by Clare Jim; Editing…
By David Kirton SHENZHEN, China (Reuters) – China’s Realme will enter Europe’s high-end handset market next month with its priciest ever device, its CEO told Reuters, as it looks to expand beyond its budget offerings and sell 50% more smartphones globally this year. The Shenzhen-based company is among several Chinese handset firms that have been…
DUBAI, United Arab Emirates (AP) — One of the seven sheikhdoms in the United Arab Emirates said Tuesday it will allow “gaming” while announcing a multibillion-dollar deal with Las Vegas-based casino giant Wynn Resorts. The announcement by Ras al-Khaimah comes after months of rumors about gambling coming to the UAE, home to skyscraper-studded Dubai and…
By Stella Qiu and Alun John BEIJING (Reuters) – Asian share markets got off to a cautious start on Wednesday, after another volatile Wall Street session, as investors braced for the outcome of the Fed’s meeting late in the day and any hints about faster tightening of monetary policy. MSCI’s broadest index of Asia-Pacific shares…
By David Shepardson WASHINGTON (Reuters) – U.S auto safety regulators on Tuesday said they have sought additional information from Tesla Inc in its probe into 580,000 vehicles over the automaker’s decision to allow games to be played by passengers on the front center touchscreen. In December, the National Highway Traffic Safety Administration (NHTSA) opened a…
(Reuters) -Texas Instruments Inc on Tuesday forecast current-quarter revenue above expectations and said it would sharpen its focus on chips used in the lucrative automotive and industrial sectors, sending its shares up 4% in extended trading. The company, which also beat fourth-quarter revenue estimates, is boosting capacity as chipmakers try to plug the gap between…
OMAHA, Neb. (AP) — Canadian National railroad on Tuesday named a new CEO and also reached an agreement with the investment fund that has been pushing it to focus more on cutting costs and streamlining its operations. The Montreal-based railroad said Tracy Robinson will take over the top job. She will replace retiring CEO JJ…
By Paul Lienert and David Shepardson (Reuters) -General Motors Co said Tuesday it will invest $7 billion in Michigan, much of that aimed at dramatically boosting production of full-size electric pickups, intensifying a battle with rival Ford Motor Co for EV supremacy in North America. Both U.S. automakers, however, will have to contend with current…
By Eduardo Baptista BEIJING (Reuters) – How will China’s metaverse evolve? Look to the letter “c”. Clean, censored, compliant and crypto-less is the view from experts. The descriptions point to the long shadow thrown by Chinese authorities who have already intimated they will have a heavy regulatory hand in how it will develop – a…
