Reuters Asia Business

By Andrew Silver and Kane Wu SHANGHAI/HONG KONG (Reuters) – Some of the biggest global drugmakers, undeterred by mounting Sino-U.S. tensions, are scouring for deals in China to replenish drug pipelines and boost their presence in the world’s second-biggest pharmaceutical market, industry executives and investment bankers said. Several major deals have already been completed this …

Analysis-Drug giants eye China for deals despite growing Sino-US tensions Read More »

By Joanna Plucinska and David Shepardson FARNBOROUGH, England (Reuters) -More plane orders flowed in at the Farnborough Airshow on Tuesday despite supply chain pressures on jetmakers and complaints from airlines about delivery delays. Boeing announced deals with Qatar Airways and Macquarie Airfinance, while Airbus secured orders from Japan Airlines and Virgin Atlantic – although much …

Airbus and Boeing snap up deals despite delivery delays Read More »

SINGAPORE (Reuters) – Grab, Southeast Asia’s biggest ride-hailing and food delivery firm, has bought Singaporean dining reservation platform Chope for an undisclosed price, according to confirmation from both companies on Tuesday. “We believe the addition of Chope’s products and services provides more synergies for our merchant-partners, especially in helping them capture online-to-offline opportunities,” a Grab …

Grab buys Singaporean dining reservation platform Chope Read More »

By Nathan Vifflin ((Reuters)) – The world’s seventh largest car parts supplier Forvia will bring its partnership with Chinese battery specialist and car maker BYD to Europe, it said on Tuesday. Forvia said the two companies will operate together in BYD’s new factory in Hungary, as an extension of their current partnership in Asia. “Our collaboration …

Forvia and BYD to bring Asian partnership to Europe Read More »

TOKYO (Reuters) -Toyota Motor said on Tuesday it would launch an 807 billion yen ($5.16 billion) tender offer for its own shares. The buyback comes amid a governance push by the Tokyo Stock Exchange that has prompted major companies to unwind cross-shareholdings. The practice of companies holding shares in each other has long been seen …

Toyota to launch $5.16 billion tender offer for own shares Read More »

By Yukiko Toyoda and Kentaro Sugiyama TOKYO (Reuters) – Broadening pay hikes among smaller firms is crucial, said Japan’s top government spokesperson, Yoshimasa Hayashi, underscoring the administration’s drive to achieve sustained wage gains. Such gains have been a policy priority for Prime Minister Fumio Kishida’s government, in its effort to prevent rising living costs from …

Japan’s chief cabinet secretary calls for broad-based wage hikes Read More »

BEIJING (Reuters) – China’s largest listed steelmaker Baoshan Iron and Steel Co (Baosteel) will acquire the 50% share held by Japan’s Nippon Steel in their automotive steel sheet joint venture. In a document filed to the Shanghai Stock Exchange on Tuesday Baosteel said the company’s board of directors had approved the proposal for the acquisition …

China’s Baosteel to buy Nippon Steel’s 50% share in auto sheet joint venture Read More »

By Victoria Waldersee, Joseph White BERLIN (Reuters) -When Volkswagen Group last month invested $5 billion in U.S. electric truck-and-SUV maker Rivian, the startup’s shares soared on the cash infusion. And Volkswagen’s stock dropped 1.6%. Some analysts praised the creation of a Volkswagen-Rivian joint venture to help the German giant with software. But the investment raised …

Volkswagen is reeling in China. Can EVs help it grow in the US? Read More »

TOKYO (Reuters) -Nippon Steel will dissolve its joint venture with China’s Baoshan Iron & Steel, slashing the Japanese company’s steel production capacity in China by 70%, the Nikkei business daily reported on Tuesday. The company has decided to shift its attention to expansion in the United States and India, as its key customers, Japanese automakers, …

Nippon Steel to dissolve JV with China’s Baoshan, Nikkei reports Read More »

TOKYO (Reuters) – Japanese electric motor maker Nidec raised its full-year operating profit forecast by 4.3% on Tuesday off the back of a recovery in demand for hard drive motors, efforts to raise its profitability and a weaker yen. The company raised its expectations for operating profit in the financial year to the end of …

Japan’s Nidec lifts annual profit outlook after Q1 Read More »