By Casey Hall SHANGHAI (Reuters) – When tech giant Apple joined China’s livestreaming frenzy, a major driving force of the e-commerce boom in the world’s second biggest economy, it launched without deep discounts or a celebrity host to pull millions of viewers. Yet Apple’s show, hosted by product experts offering tips on making movies with…
By Dietrich Knauth NEW YORK (Reuters) – U.S. electric truck manufacturer Lordstown Motors began its bankruptcy case embroiled in litigation, laying out disputes with estranged partner Foxconn, rival electric vehicle manufacturer Karma Automotive, the U.S. Securities and Exchange Commission and several investor groups during its first court appearance. Lordstown filed for bankruptcy protection in Wilmington,…
By Daniel Leussink and Norihiko Shirouzu (Reuters) – Nissan installed a camera surveillance system at the home of former executive Ashwani Gupta so the automaker’s internal security team could monitor him, according to the preliminary findings of an investigation into the surveillance, two people with knowledge of the report said. Nissan has been investigating a…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The cold reality of ‘higher for longer’ interest rates that cooled investor sentiment on Wednesday will lend a cautious tone to Asian trading on Thursday, with investors also wary of potential action from Tokyo and…
By Michael Martina and David Brunnstrom WASHINGTON (Reuters) -The United States expects a greater partnership with India in the South China Sea, where China has been at the center of numerous territorial disputes with regional countries, the top U.S. diplomat for East Asia said on Wednesday. The United States and India declared themselves “among the…
By David Shepardson (Reuters) -The trade group representing nearly all major automakers wants the U.S. Environmental Protection Agency to soften its proposal to sharply cut vehicle emissions through 2032 saying it is “neither reasonable nor achievable.” The EPA said in April the proposed 2027-2032 standards would cut emissions by 56% compared to the existing 2026…
SEOUL (Reuters) – Confidence among South Korea’s services sector firms has continued to improve, with their outlook for July the most optimistic in nine months, but manufacturers turned a bit pessimistic, a central bank survey showed on Thursday. The business outlook index for the services sector rose to 78 for July on a seasonally-adjusted basis,…
By Medha Singh (Reuters) – Shares of U.S. chipmakers fell on Wednesday following reports that the Biden administration was planning new curbs on export of computing chips for artificial intelligence to China as early as July. Companies such as Advanced Micro Devices, Nvidia and Intel, which rely on the world’s second-largest economy for at least…
By Stephen Culp NEW YORK (Reuters) – The Nasdaq Composite Index closed higher and the dollar rebounded on Wednesday as Federal Reserve Chair Jerome Powell suggested two more interest rate hikes are probably in the cards. Of the three major U.S. stock indexes, only the Nasdaq advanced, lifted by megacap momentum stocks led by Tesla…
BEIJING (Reuters) -About 90% of Boeing’s China 737 MAX jets have resumed commercial operation as of the end of June, the U.S. aircraft maker said on its official WeChat account on Wednesday. Some planes have been dispatched to regional international routes, Sherry Carbary, president of Boeing China, said in the article. The planemaker’s shares rose…
