Reuters Asia Business

(Reuters) – Toyota Motor North America posted an about 9.2% rise in second-quarter U.S. auto sales on Tuesday, aided by demand for its affordable and premium crossover SUVs. The company, a unit of Japan’s Toyota Motor Corp, sold 621,549 vehicles in the quarter, compared with 568,962 units a year earlier. Sales of Toyota’s SUVs, such …

Toyota’s Q2 US auto sales up 9% on SUV demand Read More »

By Neil Jerome Morales (Reuters) – The Philippines’ biggest fast-food chain Jollibee Foods will acquire a majority stake in South Korea’s Compose Coffee, as part of a deal valuing the target at $340 million, the company said on Tuesday. Jollibee’s largest acquisition by number of stores continues the company’s expansion overseas, which will account for …

Jollibee Foods to take control of S.Korea’s Compose Coffee in $340 million deal Read More »

HANOI (Reuters) – Vietnam’s Ministry of Planning and Investment is finalising a draft plan to set up a fund to help attract foreign investment and maintain the country’s competitiveness, according to a ministry document reviewed by Reuters. The draft will be submitted to the central government by Friday, according to the document dated June 29. …

Vietnam finalising plan for fund to attract foreign investment Read More »

BEIJING (Reuters) – Tesla’s June sales of China-made electric vehicles fell 24.2% from a year earlier to 71,007, data from the China Passenger Car Association (CPCA) showed on Tuesday. Deliveries of the U.S. automaker’s China-made Model 3 and Model Y vehicles fell 2.2% from May levels. Chinese rival BYD, with its Dynasty and Ocean lineups …

Tesla’s June China-made EV sales down 24.2% y/y Read More »

By Heekyong Yang and Joyce Lee SEOUL (Reuters) – A workers’ union at Samsung Electronics in South Korea has called a strike for July 8-10, union officials said on Tuesday, as it steps up industrial action against the country’s most valuable company. The union is determining how many workers will join the strike, Lee Hyun-kuk, …

Samsung Electronics workers to strike on July 8-10, union says Read More »

MANILA (Reuters) – Philippine budget airline Cebu Air Inc said on Tuesday it has agreed to buy a minimum of 70 A321neo aircraft, with options for more, to secure its long-term fleet expansion needs. Cebu Air, which operates under the name Cebu Pacific, has plans to double its fleet by 2035 to take advantage of …

Philippines’ Cebu Air to order at least 70 Airbus planes Read More »

By Anton Bridge and Miho Uranaka TOKYO (Reuters) – The Bank of Japan (BOJ) could hike interest rates twice by the end of March 2025 to reach 0.5%, reflecting the real growth rate of the Japanese economy, the head of Mizuho Financial Group’s banking arm said. But rapid rate hikes won’t be a tool to …

Japan interest rates could rise to 0.5% by March 2025, says Mizuho Bank CEO Read More »

TOKYO (Reuters) -Four of Japan’s top property and casualty insurers and other financial firms plan to sell around 500 billion yen ($3.1 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates. Tokio Marine Holdings Sompo Holdings and two units of MS&AD Insurance Group will together offload shares in …

Exclusive-Major Japanese insurers to offload $3.1 billion of Honda shares, sources say Read More »