SHANGHAI (Reuters) – Some Chinese suppliers to state-owned Chongqing Changan Automobile have written to the automaker after it cut their payments by 10%, saying they were unfairly being forced to pay for the industry’s bruising price war. The suppliers said Changan, which also has partnerships with Ford Motor Co and Mazda Motor, told them in…
TAIPEI (Reuters) – Taiwan chipmaker TSMC is feeling “good” about talks towards setting up its first European factory in Germany, where it is in subsidy discussions with the government, the company’s chairman said on Tuesday. The world’s largest contract chipmaker, TSMC has been in talks with the German state of Saxony since 2021 about building…
By Georgina Lee HONG KONG (Reuters) – Hong Kong ‘s central bank plans to test the use of its digital currency under a pilot project in its HK$1.8 trillion ($229 billion) mortgage market, with an aim to slash a month-long loan approval process by half, according to the pilot participants. The test comes amid fierce…
LONDON (Reuters) – Investors have pulled around $780 million from crypto exchange Binance in the last 24 hours, data firm Nansen said on Tuesday, a day after the world’s biggest crypto exchange was sued by the U.S. Securities and Exchange Commission. Binance’s U.S. affiliate exchange registered net outflows of $13 million in the same period,…
By Tetsushi Kajimoto TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida’s government on Tuesday unveiled an action plan on his “new capitalism” programme of driving growth and wealth distribution through wage hikes, signalling his commitment to shift the economy into a higher gear. Kishida’s economic strategy will focus on investment in human resources, science and…
SINGAPORE (Reuters) – Chevron said on Tuesday it has started producing gas from the Gorgon Stage 2 development project off the coast of Western Australia. The development expands the existing subsea gas gathering network of the Gorgon Project, which exports liquefied natural gas (LNG) to customers across Asia and produces domestic gas for the Western…
(Corrects advisory to show item adds details to June 5 report) (Reuters) -Evergrande Property Services Group Ltd said on Monday it would have sufficient working capital to meet its financial obligations up to mid-2024 through various measures aimed at boosting liquidity. These include talks with embattled parent China Evergrande Group on repaying 13.4 billion yuan…
(Reuters) – Top Australian lender Westpac Banking Corp said on Tuesday that it will raise its home loan variable interest rates by 25 basis points (bps), in line with the Reserve Bank of Australia’s (RBA) rate hike. In a surprise move, the RBA raised interest rates by a quarter-point to an 11-year high, and warned…
By Rocky Swift TOKYO (Reuters) – Japan’s Nikkei index extended its climb to scale a near 33-year high on Tuesday, with trading houses and Uniqlo operator Fast Retailing leading the gains on technical support for heavyweight shares ahead of the fixing of special quotation prices. The Nikkei recouped from early losses to close nearly 1%…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s May headline inflation rate dropped to its lowest in 21 months due to lower energy and food prices and a high base in 2022, the commerce ministry said on Tuesday, with consumer prices expected to fall further. The headline consumer price index (CPI) rose 0.53%…
