TORONTO (Reuters) – Shares of Canadian insurer Manulife Financial Corp rose to a high not seen in more than 15 years on Thursday, after its first-quarter earnings beat analysts’ estimates driven by strong growth in Asia, one of its most important markets. After market close on Wednesday, Manulife reported a 16% jump in core earnings …
Manulife’s strong Asia growth pushes stock to over 15-year high Read More »
BEIJING (Reuters) – China’s new yuan loans likely dropped sharply in April from March due mainly to seasonal factors, a Reuters poll showed, even as the central bank keeps policy support for the economy. Chinese banks are expected to have issued 800 billion yuan ($110.7 billion) in net new yuan loans last month, compared with …
China’s April new yuan loans seen falling, policy support in place- Reuters poll Read More »
WASHINGTON (Reuters) – The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. Government and private sector researchers worry U.S. adversaries could use the models, which mine …
Explainer-What risks do advanced AI models pose in the wrong hands? Read More »
By Nick Carey LONDON (Reuters) -Chinese automaker BYD will consider building a second assembly plant in Europe in 2025, its European managing director Michael Shu said on Thursday. Speaking at the FT’s Future of the Car conference, Shu said that BYD will bring a low-cost electric vehicle based on its Chinese Seagull model to Europe. …
China’s BYD will consider second Europe plant in 2025, executive says Read More »
By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japan’s top steelmaker, Nippon Steel, is sticking to its plan to close a deal by year-end to buy U.S. Steel, which it expects to boost output and profits, the company said on Thursday, despite resistance to the transaction in the U.S. In December, Nippon Steel offered nearly …
Japan’s Nippon Steel sticks to plan to close U.S. Steel deal by year-end Read More »
By Khanh Vu and Phuong Nguyen HANOI (Reuters) – Vietnam’s banks face higher borrowing costs after deposits in the country’s banking system registered a first monthly decline in more than two years, while inflation is rising. Banks are responding by offering higher interest rates on deposits, which could in turn lead to pricier loans, posing …
Vietnam’s banks face borrowing cost rise as deposits dip Read More »
By Daniel Leussink TOKYO (Reuters) -Japan’s Nissan Motor expects to beat analyst estimates with a 5.5% rise in operating profit this fiscal year on higher global sales, it said on Thursday, while warning that intense competition and challenges from inflation would continue. The Yokohama-based automaker expects only a small rise in vehicle sales in China, …
Nissan upbeat on annual profit despite challenges Read More »
By Ariba Shahid KARACHI (Reuters) – Pakistan State Oil, the country’s largest oil marketer, says it is in talks with the government on a plan to acquire stakes in public sector energy companies and offset mounting debt it is owed by firms such as the national airline. Stopping the pile-up of unresolved debt across Pakistan’s …
Exclusive-Pakistan’s PSO proposes swapping debt for stake in public sector companies Read More »
(Corrects paragraph 7 to show adjusted profits rose to 231.9 billion yen, not 239.1 billion yen) LONDON (Reuters) – Cigarette maker Japan Tobacco on Thursday reported a 12.8% rise in first-quarter revenues at its cigarette business, boosted by foreign currency effects and users buying more expensive cigarettes or alternative products. The maker of Benson & …
TOKYO (Reuters) -Japan’s Takeda Pharmaceutical announced a restructuring on Thursday after annual profit slid by more than half following the loss of patent protection of major sellers. Japan’s biggest drugmaker said it will incur restructuring costs of about 140 billion yen ($899 million) this fiscal year as part of a plan to optimise its workforce, …
Japan’s Takeda Pharma to restructure after annual profit slump Read More »
