LONDON (Reuters) – Beijing has given no official timeframe for a decision in its anti-dumping investigation on European Union brandy, Remy Cointreau’s chief financial officer said on Wednesday, after top cognac makers attended a hearing on the issue last week. China announced a probe into whether EU brandy makers were selling their product in China …
Remy CFO says no date yet given for decision on China brandy probe Read More »
BEIJING (Reuters) – China has appointed an anti-graft official to lead a new committee to fight corruption in the financial sector, showing the ruling Communist Party’s tightening grip on an industry with $66 trillion in assets. Wang Weidong, 56, has been named as chief of the Central Financial Discipline Inspection and Supervision Work Committee, according …
China targets financial sector with party-led anti-graft committee Read More »
By Heekyong Yang SEOUL (Reuters) -South Korea’s LG Energy Solution (LGES) is in talks with about three Chinese suppliers to produce low-cost electric vehicle batteries for Europe, a senior executive said, with competition set to intensify after the EU slapped extra tariffs on China-built EVs. LGES’ potential partnerships come as the global EV industry is …
By Siyi Liu and Polina Devitt BEIJING/LONDON (Reuters) -Russia’s Nornickel is in talks with several Chinese battery companies to build a plant jointly producing nickel material from Russian semi-finished products, three sources with knowledge of the matter said. CNGR Advanced Material and Brunp Recycling, a subsidiary of Chinese battery giant CATL, are among the firms …
Exclusive-Nornickel in talks to build China nickel plant for battery sector, sources say Read More »
SEOUL (Reuters) – South Korean authorities arrested Kim Beom-su, the billionaire founder of tech giant Kakao Corp, on Tuesday on accusations of stock manipulation during the acquisition of a K-Pop agency last year. Here are some facts about Kim and the conglomerate that dominates South Korea’s tech scene. *Founder Kim, who is also known as …
Factbox-Who is Kim Beom-su, founder of South Korean tech giant Kakao? Read More »
SEOUL (Reuters) – South Korea’s consumer sentiment in July was the most optimistic in 27 months, with a brighter spending outlook due to easing inflation concerns, a central bank survey showed on Wednesday. The Bank of Korea’s consumer sentiment index was 103.6 in July, up from 100.9 in June, marking its highest reading since April …
South Korean consumers turn most optimistic in 27 months Read More »
By Yantoultra Ngui and Xinghui Kok SINGAPORE (Reuters) – Singapore sovereign wealth fund GIC’s main gauge of investment return posted its weakest growth in four years, and said high interest rates, China economic difficulties and geopolitical tension would keep the investment environment challenging. GIC on Wednesday posted a 3.9% rise in 20-year annualised real return, …
Singapore’s GIC posts weakest investment gains in four years Read More »
By Mimosa Spencer PARIS (Reuters) -LVMH sales growth slowed in the second quarter as Chinese shoppers reined in spending on high-end fashion at home, even as demand in Western markets slightly picked up. Sales at the world’s biggest luxury group and owner of labels Louis Vuitton, Tiffany & Co. and Hennessy, grew to 20.98 billion …
LVMH sales miss estimates as Chinese market slows Read More »
By Nathan Vifflin (Reuters) – Computer chip-making equipment supplier ASM International (ASMI) raised its third-quarter guidance after second-quarter orders beat expectations thanks to AI-related products that outweighed a drop in Chinese sales, it said on Tuesday. The Dutch company now forecasts 15% higher revenue, in a range between 740 million and 780 million euros ($803 …
ASMI raises quarterly guidance after AI orders offset Chinese sales drop Read More »
(Reuters) – Apple is likely to introduce its foldable iPhone as early as 2026, the Information reported on Tuesday, that could mark the biggest hardware design revamp for the company’s most popular product. The Cupertino, California-based company’s plan to release a foldable iPhone could mimic a similar move by Samsung Electronics, which pioneered the foldable …
Apple likely to release foldable iPhone as early as 2026, the Information reports Read More »
