By Sarah Wu TAIPEI (Reuters) – Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. Morris Chang, who founded the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC), said…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan’s top financial diplomat Masato Kanda said on Tuesday authorities were in close contact with U.S. Treasury Secretary Janet Yellen and other overseas officials “almost every day” on currencies and broader financial markets. The remarks likely signal Tokyo’s desire to keep market players on guard about the…
SEOUL (Reuters) – South Korea’s Samsung Biologics announced on Tuesday two deals with Pfizer worth around a combined 1.2 trillion won ($921.38 million) to manufacture products for the U.S. pharmaceutical giant. The latest deals will see the biotech division of the Samsung Group produce biosimilar products ranging from oncology and inflammation to immunotherapy in the…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. manufacturing slumped further in June, reaching levels last seen when the nation was reeling from the initial wave of the COVID-19 pandemic, but price pressures at the factory gate continued to deflate, a silver lining for the economy. Shrinking activity left factories resorting to layoffs, the survey from…
By Daniel Wiessner (Reuters) -Three civil rights groups filed a complaint against Harvard on Monday, claiming its preferential policy for undergraduate applicants with family ties to the elite school overwhelmingly benefits white students, days after the U.S. Supreme Court struck down its race-conscious admissions policies. The groups filed a complaint with the U.S. Department of…
BEIJING (Reuters) – China will control exports of some metals widely used in the semiconductor industry, its commerce ministry announced on Monday, the latest salvo in an escalating war over access to high-tech microchips between Beijing and the United States. The controls, which China said were aimed at protecting national security and interests, will require…
(Reuters) – Russia’s only aircraft carrier, the Admiral Kuznetsov, which has suffered a series of repair delays, may re-enter service by the end of next year, the country’s TASS state news agency reported on Tuesday. The ship, launched in 1985, had been due to undergo a refit that would have seen it operational in 2023….
(Reuters) – A blank-check firm, which was set to merge with former U.S. President Donald Trump’s media company and under regulatory investigation, has reached an agreement with the staff of the Securities and Exchange Commission, a filing showed on Monday. The special purpose acquisition company (SPAC), Digital World Acquisition Corp, said in the filing that…
By Anant Chandak BENGALURU (Reuters) – Malaysia’s central bank will leave its key interest rate unchanged at 3.00% on Thursday and keep it there for the rest of the year, marking the end of its modest tightening cycle as inflation has showed signs of cooling, a Reuters poll found. While headline inflation eased to its…
By Leika Kihara TOKYO (Reuters) -Japanese authorities are facing renewed pressure to combat the yen’s fresh declines driven by market expectations that the Bank of Japan will keep interest rates ultra-low, even as other central banks tighten monetary policy to curb inflation. Here are possible steps the government and the central bank could take to…
