By Norihiko Shirouzu BEIJING (Reuters) -Volkswagen AG said it would likely double sales of its ID battery electric vehicles in China this year and aims to do even better but the automaker could be hamstrung by a shortage of semiconductors. The ID series, which Volkswagen produces at its Chinese joint ventures with SAIC Motor and…
(Reuters) – A power shutdown at a third-party data centre has caused connectivity issues at London Metal Exchange (LME), impacting metals trading, Bloomberg News reported on Tuesday. Trading, which was due to re-open at 9 a.m. Shanghai time, remains unavailable, and the last trades conducted on all six base metals were before 2:00 a.m. Shanghai…
(Reuters) -Construction chemicals maker Sika AG on Tuesday reported a 17.3% rise in 2021 sales, boosted by a raft of acquisitions and the upturn in the building industry after pandemic closures the year before. The Swiss company, whose products are used to reinforce and water-proof concrete, said full-year sales rose to 9.24 billion francs ($9.98…
By Yuki Nitta TOKYO (Reuters) – Mizuho Financial Group will appoint senior executive officer Masahiro Kihara as its next chief executive who will be tasked with tackling long-running system failures, a person familiar with the matter said on Tuesday. The depth of those problems at Japan’s No. 3 lender was underscored again on Tuesday when…
By Norihiko Shirouzu BEIJING (Reuters) -Volkswagen AG sold 70,625 of its ID electric vehicles in China last year, missing its goal of selling 80,000 to 100,000 cars, the company said on Tuesday. “It was a pretty difficult year for us as a group.” the German automaker’s China chief Stephan Wollenstein said. Supply chain constraints, including…
By Anshuman Daga SINGAPORE (Reuters) – Asian equities and the dollar struggled to find direction on Tuesday, with attention squarely on the timing and pace of U.S. monetary policy normalisation, but investors took some comfort from a late rebound in U.S. stock markets. Federal Reserve Chair Jerome Powell appears before the Senate Banking Committee on…
By Xie Yu HONG KONG (Reuters) – U.S. investor Ray Dalio, founder of the world’s largest hedge fund, says investors need to be mindful of the current inflationary environment and stop viewing cash as a safe investment. The comments come as major central banks around the world have started or are preparing to tighten monetary…
BEIJING (Reuters) – U.S. chipmaker Intel has deleted references to Xinjiang from an annual letter to suppliers after the company faced a backlash in China for asking suppliers to avoid the sanctions-hit region. Last month, Intel was slammed on Chinese social media for a letter to suppliers published on its website. The Dec. 23 letter…
By Nivedita Balu, Tiyashi Datta and Krystal Hu (Reuters) -“Grand Theft Auto” video game maker Take-Two Interactive said on Monday it would buy Zynga for $11.04 billion in a cash-and-stock deal that will add popular mobile titles such as “FarmVille” under its umbrella as demand surges for on-the-go gaming. The deal, the largest ever in…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar hovered near the middle of its recent range against major peers on Tuesday as traders looked to incumbent Fed Chair Jerome Powell’s nomination hearing later in the day for new clues on the timing and pace of policy normalisation. In his prepared opening remarks, released Monday,…
