By Rene Wagner and Maria Martinez BERLIN (Reuters) – The United States overtook China as Germany’s most important trading partner in the first quarter of this year, according to Reuters’ calculations based on official data from the German statistics office. Germany’s trade with the United States – exports and imports combined – totalled 63 billion …
US overtakes China as Germany’s top trading partner Read More »
By Daniel Leussink TOKYO (Reuters) -The energy unit of Japan’s Panasonic Holdings missed its operating profit guidance for the past business year due to lower electric-vehicle battery production in Japan and a fall in sales of consumer products, the company said on Thursday. Operating income for the key segment, which makes batteries for Tesla and …
Panasonic’s battery unit misses annual profit estimate Read More »
By Joe Cash BEIJING (Reuters) – China’s exports and imports returned to growth in April after contracting in the previous month, signalling an encouraging improvement in demand at home and overseas as Beijing navigates numerous challenges in an effort to shore up a shaky economy. The data suggests a flurry of policy support measures over …
China’s exports and imports return to growth, signalling demand recovery Read More »
By Jonathan Stempel (Reuters) -Hyundai’s and Kia’s American financing arm will pay $334,941 to settle charges it illegally repossessed vehicles belonging to military service members, the U.S. Department of Justice said on Wednesday. According to papers filed in Los Angeles federal court, Hyundai Capital America violated the Servicemembers Civil Relief Act between 2015 and 2023 …
Hyundai, Kia unit settles US charges it repossessed service members’ vehicles Read More »
(Reuters) -Canada’s Manulife Financial Corp reported a jump in first-quarter profit on Wednesday, driven by robust performance in its Asia unit. The company’s Asia business has benefited from mainland Chinese visitors returning to Hong Kong after pandemic restrictions were lifted. Annualized premium equivalent (APE), a key sales metric, jumped 21% in the quarter, driven by …
Manulife’s first-quarter profit rises on Asia unit strength Read More »
WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo said on Wednesday the Biden administration could take an “extreme action” and ban Chinese connected vehicles or opt to impose restrictions but must first review extensive public comments. The department in late February said it was opening an investigation into whether Chinese vehicle imports pose national security …
By Mike Spector and Chris Prentice (Reuters) -U.S. prosecutors are examining whether Tesla committed securities or wire fraud by misleading investors and consumers about its electric vehicles’ self-driving capabilities, three people familiar with the matter told Reuters. Tesla’s Autopilot and Full Self-Driving systems assist with steering, braking and lane changes – but are not fully …
Exclusive-In Tesla Autopilot probe, US prosecutors focus on securities, wire fraud Read More »
By David Shepardson and Stephen Nellis (Reuters) -Intel said on Wednesday its sales would take a hit after the U.S. revoked some of the chipmaker’s export licenses for a customer in China, in a move Beijing complained was going too far in the name of national security. Intel did not disclose the name of the …
Intel, Qualcomm say exports to China blocked as Beijing objects Read More »
By Alexandra Alper 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, the core software of artificial intelligence systems like ChatGPT, sources said. The Commerce Department is considering …
Exclusive-US eyes curbs on China’s access to AI software behind apps like ChatGPT Read More »
KUALA LUMPUR (Reuters) – Malaysia plans to introduce “orangutan diplomacy” in its relations with major palm oil-importing countries, offering the animals as trading gifts in an effort to allay concerns about the environmental effects of growing the commodity. However the plan, likened to China’s “panda diplomacy” by the commodities minister, has prompted concerns among wildlife …
Malaysia eyes ‘orangutan diplomacy’ with nations that import palm oil Read More »
