By David Shepardson WASHINGTON (Reuters) -German automaker BMW imported at least 8,000 Mini Cooper vehicles into the United States with electronic components from a banned Chinese supplier, a U.S. Senate report released on Monday said. A report by Senate Finance Committee Chairman Ron Wyden’s staff said BMW imported 8,000 Mini Coopers with parts from a …
SAO PAULO (Reuters) – Chinese e-commerce retailer Temu has been certified for a tax benefit program by Brazil’s government that exempts goods up to $50 from import fees, according to the country’s federal revenue office’s website on Monday, bringing the company closer to expanding its business to Latin America’s largest economy. WHY IT’S IMPORTANT Inclusion …
Temu moves closer to Brazil debut with approval for tax benefit Read More »
By Dietrich Knauth NEW YORK (Reuters) – Red Lobster, which filed for Chapter 11 bankruptcy in Florida on Sunday night, is investigating the role its majority owner Thai Union played in the restaurant chain’s “endless shrimp” promotion that caused $11 million in losses, court documents showed. Red Lobster said the debacle was part of a …
Red Lobster probes “endless shrimp” losses after bankruptcy filing Read More »
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s home prices will fall at a faster pace this year with worsening slumps in property investment and sales, a Reuters poll showed, a sombre reminder to policymakers as they redouble efforts to revive the crisis-hit property sector. The poll showed new home prices would fall …
Slump in China’s home prices, sales set to worsen this year: Reuters poll Read More »
By Clare Jim and Xie Yu HONG KONG (Reuters) -Shares of Chinese developers wobbled on Monday as investors fretted that China’s “historic” steps to stabilise its crisis-hit property sector fell short of what is required to foster a sustainable turnaround in demand and confidence. Hong Kong’s Hang Seng Mainland Properties Index closed down 0.7%, after …
China’s property support measures disappoint, developers’ shares falter Read More »
(Reuters) -AstraZeneca plans to build a $1.5 billion manufacturing facility in Singapore to produce a promising category of cancer-killing drugs called antibody-drug conjugates (ADCs), the Anglo-Swedish drugmaker said on Monday. The facility, which will be the drugmaker’s first end-to-end ADC production site, will be supported by the Singapore Economic Development Board. The company did not …
AstraZeneca to build $1.5-billion cancer drug plant in Singapore Read More »
BEIJING (Reuters) – Apple has launched an aggressive discounting campaign on its official Tmall site in China, offering discounts of up to 2,300 yuan ($318) on select iPhone models. The discounting comes as the U.S. tech giant seeks to defend its position in the high-end smartphone market, where it faces increasing competition from local rivals …
Apple slashes iPhone prices in China amid fierce Huawei competition Read More »
BEIJING (Reuters) – Volkswagen’s premium brand Audi said on Monday it would jointly develop a new China-specific platform for intelligent and electric vehicles with its Chinese joint venture partner SAIC. The move, coming about 10 months after VW’s landmark Chinese partnership deal, highlights mounting pressure on western brands and legacy automakers to rejig to survive …
Audi, partner SAIC to develop China-specific EV platform Read More »
(Reuters) – China’s markets regulators are planning a meet with investors in Europe this week to revive their interest in the world’s second-biggest stock market, Bloomberg News reported on Monday, citing unidentified people familiar with the matter. Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), would speak with investors in Paris on …
China regulators plan European investor meet to revive stocks, Bloomberg reports Read More »
By Roger Tung and Faith Hung TAIPEI (Reuters) – Taiwan’s export orders rose more than expected and at the quickest pace in two years in April, with the government optimistic about the potential future demand for the island’s tech products from the growing artificial intelligence industry. Export orders last month jumped 10.8% from a year …
Taiwan April export orders grow at fastest pace in 2 years Read More »
