By David Shepardson WASHINGTON (Reuters) – A group of nine Republican senators on Tuesday urged the Biden administration to impose sanctions on Huawei Cloud and other Chinese cloud service providers, citing national security concerns, according to a letter seen by Reuters. The previously unreported letter led by Senator Bill Hagerty to the Commerce, State and…
By Sriparna Roy and Bhanvi Satija (Reuters) – Biogen Inc said on Tuesday it will pause or discontinue at least four studies of experimental drugs to focus on more potentially lucrative options including its second Alzheimer’s treatment, Leqembi, in the latest attempt by the new CEO to trim costs. “We made good progress on the…
By Helen Reid and Corina Pons BARCELONA (Reuters) -Europe’s cost of living crisis has benefited discount retailers but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said on Tuesday. Luxury is also continuing to perform well, with hopes that China’s reopening will give fresh impetus as…
TOKYO (Reuters) – U.S. Trade Representative Katherine Tai said on Tuesday the Biden administration’s signature Asian engagement project called the IPEF is designed to create no conflict with other trade agreements in the region, where China is expanding its clout. The Indo-Pacific Economic Framework (IPEF), which U.S. President Joe Biden launched last May, is aimed…
BEIJING (Reuters) -China’s cabinet on Tuesday issued a plan to stabilise its vital trade sector, including supporting exports of automobiles and facilitating visas for overseas businessmen, as subdued global demand threatens its exports outlook. The move came after Chinese officials repeatedly warned of a severe and complicated situation for foreign trade development as exporters reported…
By Hyunsu Yim (Reuters) -Netflix Inc said on Tuesday it will invest $2.5 billion in South Korea over the next four years to produce Korean TV series, movies and unscripted shows, doubling its investment in the market since 2016. The U.S. streaming service made the announcement after a meeting between South Korean President Yoon Suk…
By Rupam Jain NEW DELHI (Reuters) – Ranika Jaiswal’s family in Varanasi has boasted a string of officials in India’s ruling BJP party over the last four decades. Now she wants a piece of the action. “Three generations of my family, all men, have been with the party. But now it’s changing – as a…
A look at the day ahead in U.S. and global markets from Mike Dolan Bombarded by incoming corporate earnings updates and increasingly wary of tense geopolitics, world markets appear to have turned sour again on financial stocks as the full extent of March bank stress unfolds. Shares in First Republic Bank, one of the most…
By Josh Smith SEOUL (Reuters) – Leading South Korean and U.S. companies announced billions of dollars in investments, joint ventures and other plans on Tuesday, as President Yoon Suk Yeol kicked off a state visit to Washington. Yoon, who calls himself “the No. 1 salesman” for South Korea, has made business deals and “sales diplomacy”…
By David Shepardson and Heekyong Yang WASHINGTON/SEOUL (Reuters) -General Motors Co and Samsung SDI said on Tuesday they will invest over $3 billion to build a joint venture electric vehicle battery manufacturing plant in the U.S., as the automaker diversifies its component suppliers. The news comes as South Korean President Yoon Suk Yeol is in…
