SHANGHAI (Reuters) – Chinese electric car maker BYD has set the starting price for its Seagull hatchback at 73,800 yuan ($10,658.89), about 6.3% lower than its initial advertised price, its website showed. The vehicle attracted significant attention at the Shanghai auto show at a price starting from 78,800 yuan – half the price of the…
By Tatiana Gomozova and Alexander Marrow MOSCOW (Reuters) -Some former KFC restaurants in Russia began reopening as Rostic’s on Tuesday, as the new owners revive a brand born soon after the collapse of the Soviet Union, although franchise agreements mean the U.S. chain’s brand is set to live on. KFC’s U.S. parent company Yum! Brands…
SHANGHAI (Reuters) – The yuan became the most widely-used currency for cross-border transactions in China in March, overtaking the dollar for the first time, official data showed, reflecting efforts by Beijing to internationalise use of the yuan. Cross-border payments and receipts in yuan rose to a record $549.9 billion in March from $434.5 billion a…
By Karen Lema SAN ANTONIO, Philippines (Reuters) – U.S. and Philippine armed forces unleashed a volley of missiles on a mock enemy warship in the South China Sea on Wednesday, in a show of military power and a strengthening alliance at a time of rising regional tension. Philippine President Ferdinand Marcos Jr watched from a…
By Daniel Leussink TOKYO (Reuters) -Japan’s Honda Motor Co said on Wednesday it had struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co (TSMC) as part of efforts to secure a stable supply of semiconductors. Japanese automakers have struggled to completely shake off the hit from tight global chip and parts supply during the…
By Selena Li and Lawrence White HONG KONG/London (Reuters) – Standard Chartered PLC (StanChart) on Wednesday said first-quarter profit jumped 21%, beating expectations, as rising interest rates buoyed income from its cash management and retail banking businesses. Chief Executive Bill Winters said he now expects income for the emerging markets-focused lender to grow around 10%…
BEIJING (Reuters) – Ping An Insurance (Group) Co of China Ltd saw a 48.9% rise in first-quarter net profit as its investment income improved, China’s largest insurer by market value reported on Wednesday. Profit rose to 38.4 billion yuan ($5.55 billion) for the January-March quarter, it said in a filing. “The domestic economy continued to…
By Linda Pasquini and Elizaveta Gladun (Reuters) -German sportswear maker Puma said on Wednesday it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, due to high inventory levels as persistently high inflation blunts demand. However, the firm beat first-quarter revenue expectations, saying strong growth globally, including Greater…
SAO PAULO (Reuters) – Brazilian motor maker WEG SA on Wednesday reported a first-quarter net profit of 1.3 billion reais ($257.29 million), up 38.4% from a year earlier and roughly in line with analysts’ forecasts in a Refinitiv poll. WEG said the quarter was marked by a good performance in its main foreign markets as…
By Fergal Smith TORONTO (Reuters) – Canadian inflation excluding food and energy costs is expected to remain above 3% until the fourth quarter of this year, the median forecast of seven economists recently surveyed by Reuters showed, which could dash hopes of an early Bank of Canada shift to cutting interest rates. While Canadian inflation…
