Reuters Asia Business

TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and the biggest assembler of Apple’s iPhone, reiterated on Sunday it expected a rise in second-quarter revenue, and reported record sales for the month of April.Foxconn said in a statement that this year’s second quarter “remains a traditional off-peak season, and major products are …

Foxconn reiterates Q2 revenue to grow, posts record April sales Read More »

By Jonathan Stempel OMAHA, Neb. (Reuters) – Berkshire Hathaway significantly reduced its enormous stake in Apple in the first quarter, as Warren Buffett’s conglomerate let its cash hoard swell to a record $189 billion. Buffett’s company also posted a record operating profit exceeding $11 billion, as its insurance operations benefited from improved underwriting and higher …

Berkshire pares huge Apple stake as cash, operating profit set records Read More »

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka and Japan agreed on Saturday to work to resume stalled bilateral projects including a $1.5 billion Japanese-funded light railway. The two nations announced the agreement during a visit to Sri Lanka by Japanese Foreign Minister Yoko Kamikawa. Sri Lanka is working to restructure its foreign debt as …

Sri Lanka, Japan agree to resume stalled projects such as light rail Read More »

By Mimosa Spencer PARIS (Reuters) – France’s world-leading cosmetics sector is counting on talks between Xi Jinping and Emmanuel Macron next week to help minimize the impact on French companies of tough new Chinese import rules requiring the sharing of formulas and manufacturing know-how. President Xi’s first visit to Europe in five years comes amid …

French cosmetics sector eyes Xi visit for reprieve on Chinese import rules Read More »

HONG KONG (Reuters) – Credit Suisse’s securities brokerage joint venture in China said its staff numbers sank 46% in 2023, a year the Swiss authorities arranged a takeover to keep the firm from collapsing. Credit Suisse Securities (China) Ltd said in an annual report dated Tuesday that employee numbers were 126 at the end of …

Credit Suisse China securities JV says staff down 46% in 2023 Read More »

By Sheila Dang (Reuters) – Short-form video took center stage at tech and social media companies’ annual presentations to advertisers, as platforms like Snap and Meta look to capitalize on TikTok’s political uncertainty in the U.S. to take ad dollars from their rival. The presentations in New York, known as the NewFronts, come just a …

Tech platforms make pitch for ad deals as TikTok is roiled by politics Read More »

By Philip Blenkinsop BRUSSELS (Reuters) -The European Commission has warned three Chinese electric vehicle makers that they have not supplied sufficient information for its anti-subsidy investigation, according to two people familiar with the case. If the Commission concludes that the provided information from sampled companies BYD, SAIC and Geely is insufficient, it could use evidence …

EU says information from three Chinese EV makers insufficient Read More »

(Reuters) – A consortium that includes Swiss miner and commodities trader Glencore and Indonesia’s PT Chandra Asri Pacific is in advanced talks to buy Shell’s oil refinery and petrochemical units in Singapore, in a deal that could be worth about $1 billion, Bloomberg News reported on Friday. The parties are working on the details of …

Glencore-backed group nears deal for Shell’s Singapore assets, Bloomberg reports Read More »