Reuters Asia Business

BEIJING (Reuters) – The auto finance arm of China’s state-owned automaker FAW Group has launched a loan programme with no down payment, becoming one of the first providers to make such a move since the removal of government-set minimum payments. The move is intended to “maximally relieve customers’ car purchase pressure”, FAW said in a …

Chinese automaker FAW’s auto finance unit launches loan with no down payment Read More »

By Tetsushi Kajimoto TOKYO (Reuters) -Business confidence at big Japanese manufacturers and services sector firms slid in April from the prior month, dragged down by cost-of-living pressures and shaky economic conditions in major market China, a Reuters monthly poll showed. The yen’s weakening to levels unseen since 1990 during the heyday of the asset-inflated bubble …

Japan firms business mood slips as weak yen squeezes households Read More »

HONG KONG (Reuters) -Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects. Morgan Stanley is cutting at least 50 investment banking jobs in …

Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown Read More »

BEIJING (Reuters) – China’s survey-based jobless rate for 16-24 year-olds, excluding college students, was 15.3% in March, unchanged from February, data from the National Statistics Bureau showed on Wednesday. (Reporting by Ella Cao and Ryan Woo; editing by Jason Neely)

SINGAPORE (Reuters) -Singapore plans to work with international partners to raise $5 billion to help fund Asia-focused climate projects, a senior monetary official said. The initiative, called “Financing Asia’s Transition Partnership”, uses a combination of public and private sector funding, Chia Der Jiun, managing director at the Monetary Authority of Singapore, said at a conference. …

Singapore, partners to raise $5 billion to help Asia meet climate goals Read More »

By Yuka Obayashi TOKYO (Reuters) – Japanese oil refiners see no immediate impact from escalating tensions in the Middle East on their crude procurement, but will use the country’s reserves in case of contingencies to ensure stable oil supplies, the industry group’s head said. “We don’t believe that there are any obstacles to the procurement …

Japan oil refiners to tap reserves in case of Middle East disruption Read More »

TOKYO (Reuters) -Toyota Motor has recalled more than 135,000 Prius hybrid cars in Japan and suspended taking new orders for the model due to a problem with rear door handles. The cars being recalled were manufactured between November 2022 and April 2024, according to a transport ministry filing. No accidents have been reported due to …

Toyota recalls Prius cars, halts orders due to door handle fault Read More »

By Daniel Leussink and David Dolan TOKYO (Reuters) – Japanese companies are increasingly hitching their growth plans to the United States, as concerns about Chinese demand and Beijing’s influence over supply chains prompt a noticeable pivot toward the world’s largest economy. Robot maker Yaskawa Electric, drinks company Asahi, chipmaker Renesas Electronics and automaker Honda are …

Analysis-Japan Inc makes a renewed U.S. push as China fears mount Read More »

By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Unsolicited takeovers will become common in Japan with time due to government efforts to de-stigmatise the practice, Dai-ichi Life’s CEO said after its success in clinching a $2 billion deal to acquire a company with an unexpected bid. The life insurer bid for Benefit One in …

Dai-ichi Life CEO expects unsolicited takeovers to become common practice in Japan Read More »

(Reuters) – China Vanke is seeking to sell its entire stake in logistics firm GLP, Bloomberg News reported on Wednesday, as the cash-strapped state-backed property developer looks to raise liquidity. Vanke has held discussions with parties including state-owned investment company Guangdong Holdings Ltd and a Tianjin-based state-owned firm to exit its investment, the report said, …

China Vanke seeks to offload stake in logistics operator GLP, Bloomberg reports Read More »