By Amy Lv and Tony Munroe BEIJING/SINGAPORE (Reuters) – Global grain and metals trader Cargill will stop physical steel trading within China, it said on Tuesday, as demand has softened in the world’s top producer and consumer of the metal amid a prolonged slowdown in its property sector. Steel prices in China have sunk 10% …
By Foo Yun Chee BRUSSELS (Reuters) -Chinese security equipment company Nuctech is taking the European Commission to court over raids at its Dutch and Polish offices, saying there was no evidence to support allegations it benefited from illegal state support. The company, which makes body and luggage scanners for airports and ports in more than …
Chinese security firm Nuctech challenges EU raids over alleged subsidies Read More »
By Leika Kihara TOKYO (Reuters) – Bank of Japan Deputy Governor Ryozo Himino said the central bank must be “very vigilant” to the impact the yen’s moves could have on the economy, suggesting the currency’s weakness will be among factors affecting the timing of its next interest rate hike. However, he said it was inappropriate …
BOJ must be vigilant to yen’s impact on economy, says deputy governor Himino Read More »
By Xie Yu HONG KONG (Reuters) – A group of creditors of China South City has filed a lawsuit in Hong Kong against the developer’s biggest state-owned shareholder to recover $1.4 billion, according to a court filing and a source familiar with the matter. The lawsuit is the first such case against a Chinese state …
Creditors file lawsuit against defaulted Chinese developer’s state shareholder Read More »
By Faith Hung, Max A. Cherney and Ben Blanchard HSINCHU/TAIPEI, Taiwan (Reuters) -Taiwanese contract chipmaker TSMC, whose major clients include Nvidia and Apple, said on Tuesday it had held talks with some customers about moving its chip plants off the island as tensions mounted with China but such a move would be impossible. Tensions between …
TSMC says it has discussed moving fabs out of Taiwan but such a move impossible Read More »
By Daniel Leussink TOKYO (Reuters) -Japanese transport ministry officials launched an on-site investigation at Toyota Motor’s headquarters on Tuesday after irregularities were found in its applications to certify certain vehicle models. The widening fallout over certification tests stems from a safety test scandal at Toyota’s Daihatsu compact car unit and has also ensnared other Japanese …
Japanese authorities inspect Toyota HQ over certification irregularities Read More »
By Mikhail Flores MANILA (Reuters) -The Philippine central bank governor reiterated on Tuesday that the benchmark rate could be cut ahead of the Federal Reserve, keeping pressure on the peso against the dollar amid expectations U.S. rates will stay higher-for-longer. Governor Eli Remolona said the Bangko Sentral ng Pilipinas (BSP) is ready to take action …
Philippine central bank gov says rates may be cut before Fed, weighs on peso Read More »
By Francesco Guarascio HANOI (Reuters) – Vietnam’s central bank lent another $1.2 billion to ailing Saigon Joint Stock Commercial Bank over the last two months, according to a bank document seen by Reuters, taking the total to $24.5 billion as part of its efforts to rescue depositors. The massive bailout of Saigon Joint Stock Commercial …
Exclusive-Vietnam expands massive bank rescue effort on deposit exodus, document shows Read More »
By Daniel Leussink TOKYO (Reuters) -A safety test scandal at Japanese automakers widened on Monday, with Toyota Motor and Mazda both halting shipments of some vehicles after Japan’s transport ministry found irregularities in applications to certify certain models. The irregularities were also found in applications from Honda, Suzuki and Yamaha Motor, the ministry said. The …
Japan auto safety scandal widens, Toyota halts some shipments Read More »
OSLO (Reuters) -Maersk faces significant terminal congestion in Mediterranean and Asian ports, causing substantial delays in its vessel schedule, the Danish shipping group said in a statement on Monday. As a result of that congestion, the world’s second-largest container shipping company, will skip two westbound sailings from China and South Korea that had been planned …
Maersk faces significant port congestion in Asia, Mediterranean Read More »
