TOKYO (Reuters) -Japan’s Nidec Corp, a major manufacturer of electric motors, has replaced its second-in-command and will choose the next president from within the company in the spring of 2024, it said on Friday. Jun Seki, president and chief operating officer who once held the chief executive position, will resign to take responsibility for a…
By Katie Paul (Reuters) -Meta Platforms Inc signed an agreement to have chip-maker Qualcomm Inc produce custom chipsets for its Quest virtual reality (VR) devices, the companies announced at a consumer electronics conference in Berlin on Friday. Engineering and product teams of both companies will work together to produce the chips, powered by Qualcomm’s Snapdragon…
TOKYO (Reuters) – Japan’s Nidec Corp, a major manufacturer of electric motors, has replaced its second-in-command – underlining the company’s difficulties in finding a suitable leader to succeed founder Shigenobu Nagamori as CEO. Jun Seki, president and chief operating officer, will step down to take responsibility for a deterioration in the company’s earnings and will…
SINGAPORE (Reuters) -The U.S. Federal Reserve has terminated a decade-long enforcement action against HSBC Holdings PLC under which Europe’s biggest bank by assets was ordered to improve practices after violating money laundering and sanction rules. London-headquartered HSBC was accused in 2012 of degenerating into a “preferred financial institution” for Mexican and Colombian drug cartels and…
By Sonali Paul and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though fears of China’s COVID-19 curbs and weak global growth continued to limit gains and a potential cap on the price of Russian exports loomed. Brent crude futures…
Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street’s late-summer slump. Major stock indexes initially climbed broadly following the government’s latest job market report, which showed employers slowed their hiring in August. The report put traders in a buying mood, stoking cautious…
By Stella Qiu SYDNEY (Reuters) – Asian shares struggled for direction on Friday and the dollar stood tall ahead of a key U.S. jobs report as investors braced for more aggressive rate hikes from the Federal Reserve, while fresh lockdowns in China fuelled concerns about global growth. However, things look brighter in European markets, with…
(Corrects to say audit inspection starts this month, not next month, in 10th paragraph) BEIJING/SHANGHAI (Reuters) -China will implement its audit agreement with the United States announced last Friday and will strengthen communication with foreign institutional investors, a senior Chinese securities regulatory official said on Friday. The deal between Beijing and Washington will allow U.S….
By Sonali Paul and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though benchmarks were on track for a steep weekly decline as fears of China’s COVID-19 curbs and weak global growth weighed on the market. Brent crude futures rose…
By Stella Qiu SYDNEY (Reuters) – Asian shares were mixed and the dollar stood tall on Friday ahead of a key U.S. jobs report as investors braced for more aggressive rate hikes from the Federal Reserve, while commodities took an overnight dive amid new China lockdowns. MSCI’s broadest index of Asia-Pacific shares outside Japan remained…
