BEIJING/SHANGHAI (Reuters) -China on Thursday announced a nationwide campaign to promote automobile purchases in a major push to shore up demand in the world’s largest auto market. The announcement from the Ministry of Commerce came shortly after data showed passenger vehicle sales in China rose 7.3% in May from April, higher on the month but…
By Takaya Yamaguchi TOKYO (Reuters) – Japan aims to reform labour law, easing the way for couples to work and share household chores, in a bid to avert an expected sharp fall in the number of its young people by the 2030s, three government sources with direct knowledge of the matter said. Prime Minister Fumio…
TOKYO (Reuters) – Japanese truck maker Isuzu Motors said on Thursday it was not planning to move a factory to Indonesia from Thailand, a day after the Indonesian industry minister signalled it would. “While our company continues to focus on Indonesia as a major market, there are no plans to relocate a Thai factory to…
A look at the day ahead in U.S. and global markets from Mike Dolan Wildfire smoke wasn’t the only cloud from Canada that drifted over the United States this week. The Bank of Canada’s resumption of interest rate rises after a four-month pause blurred the horizon for Federal Reserve policy somewhat too, reminding markets that…
TAIPEI (Reuters) – Taiwan’s top chip design company MediaTek Inc said on Thursday it will defend itself in court against accusations from Realtek that it paid a company that sues over patents a “secret litigation bounty” to file meritless lawsuits. Realtek Semiconductor Corp’s lawsuit, lodged in California, accuses MediaTek of conspiring with IPValue Management Inc…
(Reuters) – Meta Platforms on Thursday introduced WhatsApp Channels, a feature that the social media giant said would help make the app a “private broadcast messaging product.” Users in Colombia and Singapore will be the first to receive access to Channels. Over the coming months, Meta will expand the availability of the tool for users…
SEOUL (Reuters) -South Korea pledged support for its chip sector on Thursday, with President Yoon Suk Yeol describing competition in the industry as an “all-out war” amid heightened Sino-U.S. tension. Earlier in the day, Yoon met with about 60 industry leaders, lawmakers and ministers to discuss how to maintain South Korea’s lead in memory chips,…
MUMBAI (Reuters) – The Reserve Bank of India on Thursday allowed banks to set their own limits to borrow from the interbank call money market in a bid to better manage liquidity, though at least four traders said it would not move the needle much as lenders might not be willing, or able to participate….
By Lewis Jackson SYDNEY (Reuters) – Commonwealth Bank of Australia (CBA) said on Thursday it would block some payments to certain cryptocurrency exchanges as part of a suite of new anti-scam measures that would limit customer crypto payments. A spokesperson for CBA, the country’s largest bank, declined to name the crypto exchanges involved. The bank…
By Francesco Guarascio and Phuong Nguyen HANOI (Reuters) – Two Chinese makers of energy storage systems and batteries are weighing investments worth hundreds of millions of dollars in Vietnam, industry and government sources said. The combined value of the investments could exceed $1 billion, according to one person with direct knowledge of the discussions. A…
