SHANGHAI/SINGAPORE (Reuters) -China announced its biggest ever reduction in the benchmark mortgage rate on Tuesday, as authorities sought to prop up the struggling property market and broader economy. The 25-basis point cut to the five-year loan prime rate (LPR) was the largest since the reference rate was introduced in 2019 and far more than analysts …
China slashes mortgage reference rates to revive property market Read More »
BEIJING (Reuters) – Communist Party cadres in a southern Chinese province called for a change in old mindsets and an “emancipation of the mind” in the search for solutions to economic woes, as grassroots officials launch a new push to improve sluggish local economies. Made famous by former reformist leader Deng Xiaoping in the late …
Underperforming Chinese province wants to ’emancipate’ minds to spur economy Read More »
By Jack Kim SEOUL (Reuters) – The family of a South Korean man forced to work for a Japanese company during Japan’s 1910-1945 occupation has received money from the Japanese firm he worked for, marking the first time a forced labour victim has secured such funds in a legal case. South Korea’s Supreme Court has …
By Brenda Goh SINGAPORE (Reuters) – Embraer is less affected than some other companies by issues with Pratt & Whitney engines but not immune, a senior executive at the Brazilian planemaker said on Tuesday. Embraer has confidence in Pratt & Whitney, and they have a “close and connected relationship” that will help the parties work …
Embraer less affected by Pratt engine issues but not immune, executive says Read More »
TOKYO (Reuters) – Japanese camping goods company Snow Peak on Tuesday said a group led by Bain Capital will launch a tender offer for its shares at 1,250 yen ($8.31) apiece in a management buyout that values the company at 47 billion yen ($313 million). Snow Peak will go private to rebuild its businesses, the …
Snow Peak says Bain-led management buyout to launch tender offer at 1,250 yen per share Read More »
By Cynthia Kim and Yena Park SEJONG (Reuters) -South Korea hopes its push to reform currency trading will drive a large share of trading volumes from the non-deliverable forwards market to its spot currency market, a senior government official said on Tuesday. The remarks made in an interview reflect the latest official thinking after historic …
South Korea hopes currency reforms will move chunk of NDF trading to spot deliverables Read More »
By Joe Cash BEIJING (Reuters) – China’s top financial watchdogs vowed to keep up a campaign to ensure that the sector adheres to Communist Party values and serves the economy while avoiding “excessive” and “reckless” risks, the party’s official newspaper said on Tuesday. President Xi Jinping has shown dissatisfaction with the $63- trillion financial sector, …
Top watchdogs tell China’s finance sector to follow Communist Party values Read More »
BEIJING/SHANGHAI (Reuters) -China’s securities watchdog said it held a series of seminars on Sunday and Monday with market participants who proposed tighter scrutiny of company listings and trading behaviour as part of efforts to revive market confidence. The meetings were led by the watchdog’s newly-installed chairman Wu Qing and held immediately after the week-long Lunar …
China’s securities watchdog solicits proposals to revive market Read More »
By Toby Sterling AMSTERDAM (Reuters) – Fears that ASML’s computer chip equipment will be used for Chinese military ends underlie recent decisions to deny the company export licences, the Dutch trade minister said in answers to questions from parliament. Netherlands-based ASML, Europe’s largest tech firm, dominates the world market for lithography systems, needed by computer …
Dutch government says China seeks military advantage from ASML tools Read More »
(Reuters) – Japan’s transport ministry is preparing action against one of Toyota Motor Corp’s largest units for cheating engine emissions tests, including possibly withdrawing certification for some engine types, news agency Nikkei reported on Monday. The ministry will order Toyota Industries, the world’s largest manufacturer of forklift trucks, to take steps to prevent a “recurrence …
Toyota Industries faces crackdown for engine emissions cheating – Nikkei Read More »
