Reuters Asia Business

TOKYO (Reuters) – Mizuho Financial Group reported a big jump in fourth-quarter profit on Wednesday that beat expectations, helped by its overseas business and demand for loans at home, and it forecast higher profit in the current financial year. For the January-March fourth quarter, Mizuho reported a group net profit of 36.7 billion yen ($235 …

Japan’s Mizuho posts big jump in Q4 profit, forecasts growth ahead Read More »

By Colleen Howe BEIJING (Reuters) – China’s state planner has ordered provinces to develop energy-efficiency plans for entities accounting for about 70% of consumption and carbon emissions by 2025-end, according to a notice, to meet targets that have been falling short. The National Development and Reform Commission (NDRC) said on Tuesday the plan will cover …

China calls for stepped-up energy-efficiency plans to meet targets Read More »

(Reuters) -Honda Motor is scaling down its full-time production workforce in China, with roughly 1,700 employees having agreed to leave thus far, as sales in the world’s second-largest economy decline, the Nikkei reported on Wednesday. GAC Honda Automobile, a joint venture between Honda and Chinese state-owned automaker GAC Group, began seeking employees this month to …

Honda moves to cut China workforce with 1,700 voluntary layoffs, Nikkei reports Read More »

By Joseph White, Chris Kirkham and Nora Eckert DETROIT (Reuters) – The Biden administration’s plan to slap heavy new tariffs on Chinese electric vehicles and batteries would provide temporary protection for U.S. auto jobs, potentially at the expense of White House efforts to fight climate change by accelerating U.S. EV adoption. Few Chinese-made EVs are …

Analysis-A US-China EV trade war threatens Biden’s clean-car agenda Read More »

By Timothy Aeppel (Reuters) – President Joe Biden’s move to hike tariffs on Chinese goods should help U.S.-based medical mask and glove makers, a sector that has largely flamed out after surging during the COVID-19 pandemic. Industry executives on Tuesday said Biden’s tariffs could boost demand by helping level a price differential with cheap imports …

US makers of masks and gloves get lifeline: higher tariffs on Chinese-made products Read More »

By David Shepardson WASHINGTON (Reuters) -A group of TikTok creators said Tuesday they filed suit in U.S. federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban it, saying it has had “a profound effect on …

TikTok creators file suit to block US divestment or ban law Read More »

(Reuters) -Shares of Paramount Global fell more than 7% on Tuesday after CNBC reported, citing sources, that Sony Pictures is rethinking its bid for the U.S. media company. “People close to the situation that I’ve been speaking to of late indicate that the likelihood of a bid, at least for the full company, seems to …

Paramount shares fall after CNBC reports Sony rethinking its bid Read More »

MEXICO CITY (Reuters) – Chinese electric auto maker BYD expects to have chosen a site to build a plant in Mexico, where it will put out up to 150,000 cars a year, by the end of 2024, the firm’s Americas head said on Tuesday. The plant will be built in central Mexico, Americas head Stella …

BYD to nail down Mexico plant site by year-end, Americas head says Read More »

By Cassandra Garrison MEXICO CITY (Reuters) -Chinese automaker BYD unveiled the Shark, a mid-size hybrid-electric pickup truck, in Mexico on Tuesday, as its regional chief brushed off new U.S. tariff hikes on Chinese EVs, saying the company was not eyeing an entry to the U.S. market. The Shark strengthens BYD’s foothold in the North American …

China’s BYD launches hybrid pickup in Mexico as US hikes EV tariffs Read More »