Reuters Asia Business

By Michelle Nichols UNITED NATIONS (Reuters) – North Korea laundered $147.5 million through virtual currency platform Tornado Cash in March after stealing it last year from a cryptocurrency exchange, according to confidential work by United Nations sanctions monitors seen by Reuters on Tuesday. The monitors told a U.N. Security Council sanctions committee in a document …

Exclusive-North Korea laundered $147.5 million in stolen crypto in March, say UN experts Read More »

(Reuters) -U.S. President Joe Biden on Tuesday unveiled steep tariff increases on an array of Chinese imports, including electric vehicle (EV) batteries, computer chips and medical products. Following are reactions to the move. AMERICANS FOR FREE TRADE, A COALITION OF BUSINESS ASSOCIATIONS THAT OPPOSE TARIFFS “Throughout this process, USTR received hundreds of comments from businesses …

Biden hikes US tariffs on Chinese imports Read More »

By Danielle Broadway LOS ANGELES (Reuters) – Everything changed for Paul Tran and his wife Lynda when the skincare brand they co-founded went viral on TikTok.   The Atlanta couple created @loveandpebble, and when they shared their Beauty Pops ice face masks on TikTok in 2021, it took their small business to another level.   “We sold …

Small US businesses fear TikTok ban after it turbocharged sales Read More »

By Sam Nussey TOKYO (Reuters) -Sony said on Tuesday it sees its operating profit climbing 5% this business year on robust demand for its image sensors even as it forecast lower sales for its PlayStation 5 console. The Japanese entertainment and electronics conglomerate also said it would conduct a five-for-one stock split to expand its …

Sony sees profit growth on buoyant demand for image sensors but lower PS5 sales Read More »

By Josh Ye HONG KONG (Reuters) -China’s Tencent Holdings posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations, as business services and advertising sales deliver strong revenue growth. The world’s largest video game company and operator of the WeChat messaging platform said revenue reached 159.5 billion yuan ($22.04 billion) for the three …

China’s Tencent posts strong revenue growth as ad sales, business services shine Read More »

By Trevor Hunnicutt and Jeff Mason WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. …

Biden sharply hikes US tariffs on billions in Chinese chips, cars Read More »

By Yimou Lee and Faith Hung TAIPEI (Reuters) – Apple supplier Foxconn said on Tuesday it remained confident about strong AI server demand this year driving revenue, and pledged to stand by Japan’s Sharp after taking a large, profit-impacting writedown last year. Foxconn, the world’s largest contract electronics maker and Apple’s top iPhone manufacturer, said …

Foxconn upbeat on AI demand, stands by Sharp following writedown Read More »

By Anton Bridge TOKYO (Reuters) -Japan’s Rakuten on Tuesday logged its fifteenth consecutive quarter in the red as losses at its mobile service network unit outweighed a record performance from its financial unit. The internet conglomerate logged an operating loss of 33.3 billion yen ($213 million) in January-March, in line with estimates. The result was …

Rakuten logs 15th quarter of losses on mobile woes despite record financial unit profit Read More »

By Clare Jim and Xie Yu HONG KONG (Reuters) – When China’s local governments began compiling a “whitelist” of housing projects for loans earlier this year, troubled developers hoped it would open a spigot of credit for a sector that remains a major stumbling block to a broad economic revival. Four months later, new funding …

Analysis-China’s property ‘whitelist’ lifeline stutters amid sector gloom Read More »