TOKYO (Reuters) – Shares in Asahi Group Holdings surged on Wednesday after the Japanese beermaker announced its first price increases for canned beer in 14 years and a range of other price hikes to cope with rising costs. Retail prices on 162 items, mostly beer products, will rise between 6% and 10% from Oct. 1,…
(Corrects to TME from CME in second paragraph) BEIJING (Reuters) – NetEase’s Cloud Music unit said on Wednesday it has initiated legal proceedings against Tencent Music Entertainment (TME), alleging unfair competition. NetEase Cloud Music said in the statement that TME had repeatedly and “illegally” played “unauthorised” songs on TME’s various music-streaming platforms. (This story corrects…
TOKYO (AP) — Tokyo’s Shibuya is famed for its Scramble Crossing, where crowds of people crisscross the intersection in a scene symbolizing urban Japan’s congestion and anonymity. It may have added another boasting right. Tokyu Railways’ trains running through Shibuya and other stations were switched to power generated only by solar and other renewable sources…
By Wayne Cole SYDNEY (Reuters) – Australian consumer prices surged at the fastest annual pace in two decades last quarter as petrol, home building and food costs all climbed, spurring speculation interest rates could rise as soon as next week. That would be unwelcome news for Prime Minister Scott Morrison as he fights a tough…
By Tom Westbrook SINGAPORE (Reuters) – The dollar stood at its highest level since the early days of the pandemic on Wednesday and was heading for its best month since 2015, supported by the prospect of U.S. rate hikes and on safe-haven flows fanned by slowing growth in China and Europe. The U.S. dollar index,…
By Dawn Chmielewski and Sam Nussey LOS ANGELES/TOKYO (Reuters) – Netflix Inc on Tuesday announced a multi-film deal with Japan’s Studio Colorido, as the streaming giant ramps up its anime offering and looks to Asia for growth. Netflix is co-producing three feature films with Studio Colorido including “Drifting Home”, which premieres in September, as it…
By Stephanie Kelly (Reuters) – Oil prices rose in early Asian trade on Wednesday, extending gains from the previous session after China’s central bank said it would support its economy. However, concerns about demand weighed on futures, as authorities in Beijing raced to stamp out a nascent COVID-19 outbreak and avert the same debilitating city-wide…
By Heekyong Yang and Byungwook Kim SEOUL (Reuters) – South Korea’s LG Energy Solution Ltd on Wednesday reported a smaller-than-expected 24% drop in quarterly profit as strong sales of its cylindrical batteries to Tesla Inc offset a hit to production due to chip shortages. Operating profit declined to 259 billion won ($205.01 million) for the…
By Valentine Hilaire MEXICO CITY (Reuters) -Mexican breadmaker Grupo Bimbo’s first-quarter net profit rose, boosted by strong sales, but higher raw material costs cut into its margins. Bimbo also said it was eyeing price increases to offset spiking supplier costs, especially in Mexico, where its executives have had preliminary talks with the government about bread…
LOS ANGELES (AP) — General Motors’ net income declined in the first quarter, as the automaker sold fewer cars and trucks worldwide, although higher prices helped boost revenue, especially in North America. GM late Tuesday reported net income of $2.94 billion, or $1.35 per share, versus a profit of $3.02 billion, or $2.03 per share,…
