BEIJING (Reuters) – China’s car sales fell 5.8% in April from a year earlier, industry data showed on Friday, as a ferocious price war and incentives failed to shake off consumers’ caution about spending on big items during a shaky economic recovery. While the share of new energy vehicle sales scaled a new high, paving …
China’s April car sales swing to contraction despite NEV milestone Read More »
BEIJING (Reuters) – China firmly opposes the abuse of export control tools such as the U.S. entity list, a foreign ministry spokesperson said on Friday, after the U.S. added 37 Chinese firms to a trade restriction list over national security concerns. Some of the entities were added to the list for making drones to be …
China says it firmly opposes US export control tools Read More »
By Florence Tan SINGAPORE (Reuters) – Chinese refiners will lift less Saudi crude oil in June than in May, people with knowledge of the matter said on Friday. The supply cuts come after the world’s top exporter Saudi Aramco hiked official selling prices (OSPs) for most of its crude to Asia to the highest in …
TOKYO (Reuters) – Japan’s Honda Motor Co forecast a 2.8% rise in operating profit for this financial year, after it exceeded analysts’ estimates in the fourth quarter as strong sales growth in the United States offset a decline in China. Japan’s second-largest automaker by volume forecast full-year operating profit would rise to 1.42 trillion yen …
By Echo Wang and Scott Murdoch NEW YORK (Reuters) -Chinese electric vehicle maker Zeekr Intelligent Technology priced its U.S. initial public offering (IPO) at the top of its indicated range on Thursday, raising $441 million, a person familiar with the matter said. Zeekr, which is the premium brand of Chinese automaker Geely, upsized its IPO …
Exclusive-China’s Zeekr prices US IPO at top of range to raise $441 million, source says Read More »
SHANGHAI (Reuters) – Chinese venture capitalists have warned the country’s IPO freeze is starving tech startups of funds by keeping market participants locked into existing investments, undermining Beijing’s current push to lift innovation in the economy. Venture capital firms said at the three-day ChinaVenture Investment Conference in Shanghai that they were struggling to recoup investment …
Chinese venture capitalists warn IPO freeze will hit innovation Read More »
By Mikhail Flores and Karen Lema MANILA (Reuters) -The Philippines said on Friday it aimed to add three more processing plants in the effort to develop a downstream industry for its abundant nickel resources, after nations such as China and the United States expressed interest in the mining sector. The Southeast Asian nation is looking …
Philippines eyes boost to nickel processing capacity Read More »
TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker, is expected to report on Tuesday that first-quarter profit more than doubled on robust demand for artificial intelligence servers and after coming off a low base a year ago. Last month, the company said first-quarter revenue slid 10% from a year earlier but it …
Foxconn’s Q1 profit to jump from low base, AI to power growth Read More »
By Deisy Buitrago CARACAS (Reuters) -Venezuela is open to paying its debt to China – which according to independent data amounts to some $10 billion – lawmaker Nicolas Maduro Guerra, son of President Nicolas Maduro, told Reuters in an interview on Thursday. Venezuela’s relationship with China is “foolproof and weatherproof,” Maduro Guerra said, adding that …
Maduro’s lawmaker son says Venezuela is open to paying debts to China Read More »
By Stephen Nellis (Reuters) -TikTok plans to start labelling images and video uploaded to its video-sharing service that have been generated using artificial intelligence, it said on Thursday, using a digital watermark known as Content Credentials. Researchers have expressed concern that AI-generated content could be used to interfere with U.S. elections this fall, and TikTok …
TikTok to label AI-generated content from OpenAI and elsewhere Read More »
