Reuters Asia Business

By Daniel Leussink TOKYO (Reuters) -Nissan Motor saw first-quarter profit almost completely wiped out on Thursday and slashed its annual outlook, as deep discounting in the United States shredded the Japanese automaker’s margins. The results were far short of analyst expectations and sent Nissan’s shares down 7%. Investors will now likely have to worry about …

Nissan sees Q1 profit wiped out by US discounts, shares hammered Read More »

By Jihoon Lee SEOUL (Reuters) – South Korea on Thursday proposed tax cuts as part of its broader push to boost the domestic stock market and tackle a falling birth rate, which is the world’s lowest. Among measures to beef up the “Corporate Value-up Programme” introduced in February, the finance ministry said it would lower …

South Korea seeks to cut inheritance tax in first revision since 2000 Read More »

By Deborah Mary Sophia and Noel Randewich (Reuters) -Tesla shares tumbled 12% on Wednesday, evaporating almost $100 billion in stock market value after CEO Elon Musk’s talk of humanoid robots and driverless taxis failed to comfort investors worried about the electric car maker’s shrinking profit margins. Tesla posted its lowest quarterly profit margin in five …

Tesla’s bleak margins sink shares as Musk hypes everything but cars Read More »

(Reuters) -Carmaker Honda Motor is planning to cut down production capacity of internal combustion engine cars by one-third, Nikkei reported on Thursday, as increased competition from lower-priced local manufacturers has weighed on sales of Japanese automakers. Honda will close three of its seven production lines in China, the world’s largest auto market, reducing its annual …

Honda to cut ICE car production capacity in China, Nikkei reports Read More »

BEIJING (Reuters) – Taiwan staff at multinational firms in China have nothing to fear as long as they don’t break the law, the Chinese government said on Wednesday, following new legal guidelines that mandate execution in extreme cases for “diehard” separatists. China, which views Taiwan as its own territory, issued the new guidelines after President …

Don’t break law and you have nothing to fear, China tells Taiwan staff of multinational firms Read More »

By James Pearson LONDON (Reuters) -A software bug in CrowdStrike’s quality-control system caused the software update that crashed computers globally last week, the U.S. firm said on Wednesday, as losses mount following the outage which disrupted services from aviation to banking. The extent of the damage from the botched update is still being assessed. On …

As losses mount, CrowdStrike says bug in quality-control process led to botched update Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s central bank cut interest rates by 25 basis points on Wednesday in a surprise decision aimed at spurring economic recovery following the country’s worst financial crisis in decades. The decision was made “in the absence of significant inflationary pressure,” said the bank, which expects inflation to remain below …

Sri Lanka cuts rates to stimulate economic recovery Read More »

By Xinghui Kok SINGAPORE (Reuters) – China’s BYD widened its sales lead over Tesla in Singapore in the first half of this year, government data showed, highlighting the challenge facing the world’s biggest electric vehicle maker by sales from Chinese rivals. BYD’s strong growth in Singapore, one of the region’s smallest auto markets, underscores the …

China’s BYD widens EV lead over Tesla in Singapore, Southeast Asia, data shows Read More »