By Andrew MacAskill LONDON (Reuters) -British foreign minister James Cleverly urged China to be more open about what he called the biggest military build-up in peacetime history and said secrecy around its plans could lead to a “tragic miscalculation”. Relations between Britain and China are the worst in decades after London restricted Chinese investment over…
By David Milliken LONDON (Reuters) – Britain saw a record number of working days lost due to short-term sickness last year and zero annual growth in economic output per hour worked in the final quarter of 2022, according to official data released on Wednesday. The figures from the Office for National Statistics highlight the challenges…
(Reuters) -Humana Inc raised its annual adjusted profit forecast on Wednesday after lower medical costs in the firm’s government-backed health insurance business helped it beat profit estimates in the first quarter. The company’s rosy outlook contrasts uncertainty around 2024 earnings for health insurers staring at the end of COVID-related insurance protection measures and potentially lower…
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…
