By Tom Westbrook SINGAPORE (Reuters) -A dramatic rally in the yen is tapping one of the most powerful forces in markets: momentum. And as trend-followers who rode the currency’s slide to a 38-year low start to flip their bets, investors of all stripes are rushing to get out of the way. The yen is up …
Investors scramble to get out of the way of the rising yen Read More »
(Reuters) -China is expected to appoint a senior securities official to head its second-largest bourse, four sources said, filling a role that has been vacant for the unusually long period of seven months as the securities regulator reshuffled its leadership. Li Jizun, a civil servant who is now director of the general office at the …
By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japan’s biggest steelmaker Nippon Steel on Thursday raised its full-year profit forecast amid improving margins in the steel business, and reiterated its confidence in closing its proposed acquisition of U.S. Steel by year-end. Net profit in April-June, its first quarter, fell 11% from a year earlier to …
Japan’s Nippon Steel raises full-year profit forecast, confident on U.S. Steel deal Read More »
TOKYO (Reuters) -Japanese automakers Nissan Motor and Honda Motor have agreed to conduct joint research into technologies for a next-generation software platform, they said in a joint statement on Thursday. The companies also signed a memorandum of understanding to deepen the strategic partnership they announced in March, pledging to cooperate in areas such as batteries, …
Japan’s Nissan, Honda to jointly research software, start talks with Mitsubishi Read More »
BERLIN (Reuters) – Volkswagen’s chief executive said China and Europe should build tariff systems that reward those who invest in domestic car production, adding that the Chinese ministers he recently met in Beijing were open for discussion and aiming for a fair solution. “When they invest in Europe and work together with European countries, that’s …
Volkswagen CEO: China is open for discussion on tariffs Read More »
BEIJING (Reuters) – China’s industry ministry on Thursday published draft rules on recalls and over-the-air software upgrades of intelligent connected vehicles, aiming to strengthen supervision of OTA upgrades that have become commonplace in product recalls of electric vehicles under Chinese regulations. The draft rules stipulated an improvement in the incident reporting and analysis mechanism. In …
China plans to strengthen intelligent connected vehicles’ OTA upgrade Read More »
SINGAPORE (Reuters) – South Korea’s key oil refiners are likely to see spot export sales volumes for 10ppm sulphur diesel climb to a four-month high in August, after offers for two more prompt-loading cargoes emerged in the market from SK Energy, several industry sources said on Thursday. The oil major is offering at least two …
Major S. Korean refiners’ diesel export sales could bounce back to four-month high Read More »
By Daniel Leussink TOKYO (Reuters) -Toyota Motor posted a 17% increase in first-quarter profit on Thursday, as cost-cutting and a weaker yen helped offset lower sales and a decline in production at home. The world’s top-selling automaker said operating profit for the three months through June totalled 1.3 trillion yen ($8.70 billion), matching the average …
Toyota posts 17% increase in Q1 profit but shares tumble Read More »
SEOUL (Reuters) – South Korea’s LG Display has picked TCL’s LCD unit CSOT as preferred bidder for its liquid crystal display (LCD) plant in Guangzhou, China. LG and CSOT will carry out exclusive negotiations for a potential sale, LG Display said in a regulatory filing on Thursday without elaborating on deal size. LG Display is …
LG Display picks CSOT as preferred bidder for China LCD plant Read More »
TOKYO (Reuters) -Mitsubishi UFJ Financial Group (MUFG) booked a 0.4% drop in first-quarter profit due to a change in a reporting period at an overseas subsidiary and affiliate, but profits across its customer segments grew. Japan’s largest lender by assets reported group net profit of 556 billion yen ($3.7 billion) for April-June, compared with 558 …
Japan’s MUFG Q1 profit drops on accounting change, weak yen helps customers Read More »
