BERLIN (Reuters) – Thyssenkrupp and Japan’s NSK are considering forming an automotive joint venture, the German conglomerate said on Thursday, as it continues to explore new ownership models for its key business areas to become leaner. The two companies signed a memorandum of understanding (MoU) to explore a tie-up between Thyssenkrupp’s Automotive Technology division and…
Asian shares bounced back Friday from losses earlier in the week, shrugging off data showing U.S. wholesale prices soared 11% in April from a year earlier. The regional rally followed a mixed and muted close on Wall Street. Oil prices and U.S. futures also were higher. Investors are puzzling over what’s next with inflation and…
By Sam Nussey TOKYO (Reuters) – SoftBank Group Corp reported on Thursday a net loss of 1.7 trillion yen ($13.12 billion) for the year ended in March as the tech investor faces a sliding tech portfolio. The result compared with a record 4.99 trillion yen profit a year earlier, when the boost from the listing…
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -Newly-elected Philippine President Ferdinand Marcos Jr. will inherit an economy that has strongly bounced back from the COVID-19 pandemic when he takes office in June, but soaring food and fuel costs will need to be addressed quickly. Southeast Asia’s fifth-largest economy grew a better-than-expected 8.3%…
BEIJING (AP) — China’s leaders are struggling to reverse an economic slump without giving up anti-virus tactics that shut down Shanghai and other cities, adding to challenges for President Xi Jinping as he tries to extend his time in power. The ruling Communist Party has declared its “zero-COVID” goal of preventing all infections takes priority…
HONG KONG (Reuters) – Bitcoin resumed its slide on Thursday, continuing to fall alongside risk assets such as tech stocks, and also dragged down by the collapse of TerraUSD, the so-called stablecoin which lost its dollar peg this week. The world’s largest cryptocurrency dropped around 2% to as low as $28,379.26. (Corrects to remove incorrect…
By Satoshi Sugiyama and Maki Shiraki TOKYO (Reuters) – Toyota Motor Corp rolls out its first mass-produced battery electric car in Japan on Thursday for lease only, a strategy the automaker says will help ease driver concerns about battery life and resale value but has raised analysts’ eyebrows. Gasoline-electric hybrid models remain far more popular…
