Reuters Asia Business

By Joyce Lee SEOUL (Reuters) -South Korean authorities arrested Kim Beom-su, the billionaire founder of tech giant Kakao Corp on Tuesday, on accusations of manipulating stocks during the acquisition of a K-Pop agency last year.  It is the latest legal twist for Kakao, which runs South Korea’s largest chat app, after the company and another …

Founder of South Korea’s Kakao arrested for suspected stock manipulation Read More »

By Doyinsola Oladipo NEW YORK (Reuters) – Global business travel spending in 2023 recovered to pre-pandemic levels in North America, Latin America, the Middle East and Africa as companies resumed in-person gatherings and conferences, according to report released Monday by an industry association. However, the Global Business Travel Association’s annual report also said business travel …

Business travel spending recovers in all regions but Asia and Europe Read More »

(Reuters) – Chinese gold demand is now cyclically soft due to price sensitivity and recent price surges, but emerging-market central banks, including China’s, are likely to continue to buy gold frequently, whether disclosed or not, Goldman Sachs said. Earlier this month, official data showed that China’s central bank in June refrained from gold purchases to …

China’s appetite for gold likely to continue, Goldman Sachs says Read More »

By Laura Matthews and Tom Westbrook NEW YORK/SINGAPORE (Reuters) – Politics has toppled global markets from record peaks and over a turbulent few weeks stepped to the fore as investors confront the prospect of an increasingly fractious Europe, isolationist America and a slowdown in the pulse of world trade. Geopolitics topped the risk list of …

Analysis-Geopolitics is back to break markets’ stride Read More »

KRAGUJEVAC, Serbia (Reuters) – Stellantis is ready to “fight” for its place in Europe’s electric vehicle market against strong competition from Chinese carmakers, its CEO Carlos Tavares said on Monday, as the group presented its new EV production line in Serbia. “We are going to be challenged and I would say brutally challenged by the …

Stellantis ready to ‘fight’ for place in Europe’s EV market, CEO says Read More »

By Joanna Plucinska and Allison Lampert FARNBOROUGH, England (Reuters) -A plunge in Ryanair’s quarterly profits cast a shadow over the opening of the Farnborough Airshow on Monday, where aviation leaders were already fretting about supply chain snags, aircraft delays and floundering plans to cut emissions. Boeing announced a bumper order from Korean Air for 20 …

Sliding airline profits and plane delays cast shadows at air show Read More »

By James Pomfret and Michael Martina HONG KONG/WASHINGTON (Reuters) -Semiconductors and other restricted goods shipped through China and Hong Kong to fuel Russia’s war effort fell by a fifth this year previously undisclosed U.S. Commerce Department data shows, but Hong Kong remains a global sanctions evasion hotspot. Transshipments through Hong Kong of Common High Priority …

Exclusive-Illicit chip flows to Russia seen slowing, but China, Hong Kong remain transshipment hubs Read More »

NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway reduced its stake in BYD to below 5%, in what could be the final time Berkshire discloses stock sales in China’s largest producer of electric vehicles. Berkshire lowered its stake in BYD’s issued H-shares to 4.94% from 5.06% on July 16, according to a Monday filing with …

Berkshire Hathaway cuts stake in China’s BYD to below 5% Read More »

TOKYO (Reuters) – The Bank of Japan should more clearly indicate its resolve to normalise monetary policy, including through steady interest rate hikes, senior ruling party official Toshimitsu Motegi was quoted as saying by the Nikkei newspaper on Monday. “Excessive yen declines are clearly negative for Japan’s economy,” Motegi, who is secretary-general of the ruling …

Japan ruling party executive urges BOJ to clarify rate-hike resolve, Nikkei says Read More »