By Marcelo Teixeira NEW YORK (Reuters) – German coffee trader Neumann Kaffee Gruppe (NKG), one of the world’s largest coffee merchants, said on Thursday it has opened a subsidiary in China, looking to meet surging demand for the beans in Asia’s fastest growing coffee market. The company’s new Chinese operation is headquartered in downtown Shanghai, …
Coffee trader NKG expands into China to tap surging demand Read More »
(Reuters) -The U.S. Department of Energy said on Thursday it had made a conditional loan guarantee commitment of up to $1.45 billion to South Korea’s Qcells to support the company’s solar manufacturing plant in Cartersville, Georgia. The agency’s Loan Programs Office said the funding would help Qcells build a $2.5 billion facility that will produce …
By Roushni Nair and Yantoultra Ngui SINGAPORE (Reuters) – Singapore’s DBS Group has appointed Tan Su Shan, currently its institutional banking group head, as CEO from March, replacing Piyush Gupta, who has led Southeast Asia’s biggest bank for 14 years. She will be the bank’s first female chief executive and also the first to be …
Factbox-Who is Tan Su Shan, Singapore bank DBS’s incoming CEO? Read More »
By Karen Freifeld (Reuters) – The United States on Thursday banned imports from five more Chinese companies over alleged human rights abuses involving the Uyghurs, according to a government posting, as part of its effort to eliminate goods made with forced labor from the U.S. supply chain. The companies include Hong Kong-based Rare Earth Magnesium …
US bans imports from five more Chinese companies over Uyghur forced labor Read More »
By Milana Vinn (Reuters) -Trend Micro, a Japanese cybersecurity firm with a market value of about 950 billion yen ($6.5 billion), is exploring a sale after attracting buyout interest, people familiar with the matter said on Thursday. The deal deliberations come as a weakening of the yen in the last few weeks, and Trend Micro’s …
Exclusive-Cybersecurity firm Trend Micro explores sale, sources say Read More »
DUBLIN (Reuters) – Ryanair said on Thursday it would buy back up to 800 million euros ($872.48 million) more of its shares over the next six to nine months due to a stronger than expected cash position, driven partly by the delayed delivery of new Boeing aircraft. The Irish airline, Europe’s largest by passenger numbers, …
Ryanair adds to share buyback plans after delivery delays boost cash Read More »
(Reuters) -General Motors said on Thursday it was committed to building a profitable and self-sustainable operation in China, despite facing stiff competition from local brands. Shares of GM rose more than 4%. “We’re committed to maintaining cash stability there at a point where it’s self-sustaining. That means not needing any capital from outside,” GM CFO …
GM says it is committed to China operations despite challenges Read More »
ROME (Reuters) -Italian Prime Minister Giorgia Meloni visited China at the end of July to boost co-operation with the world’s second-largest economy and reset trade ties after leaving the Belt and Road infrastructure investment scheme. During her first trip to Beijing since she took power in 2022, Meloni said that the two countries had signed …
Factbox-Deals signed by Italy and China after PM Meloni’s trip Read More »
BEIJING (Reuters) -Half of all vehicles sold in China in July were either new pure electric vehicles or plug-in hybrids, industry data showed, a milestone that underscores how far the world’s biggest auto market has leapt ahead of Western counterparts in EV adoption. Sales of so-called new energy vehicles (NEVs) jumped 37% last month from …
China auto market hits milestone with EVs, hybrids making up half of July car sales Read More »
By Jeanny Kao and Faith Hung TAIPEI (Reuters) – Taiwan’s exports rose less than expected in July as weak demand from China offset record orders from the United States which underscored the island’s essential role as a supply hub for the booming artificial intelligence (AI) industry. Exports rose 3.1% from a year earlier to $39.94 …
Taiwan July exports misses forecasts on weak China demand, but U.S. soars Read More »
