By Helen Reid, Emma Rumney and Ananya Mariam Rajesh (Reuters) – Some of the world’s top food, drinks and tech companies have struck a sour tone about Chinese demand, deepening investor worries about damage to firms exposed to the country and Beijing’s ability to revive the world’s second-biggest economy. The downbeat comments from companies including …
‘Long and tedious journey’: companies sour on China outlook Read More »
By David Shepardson WASHINGTON (Reuters) – U.S. auto safety regulators said on Wednesday they have closed an investigation into engine fire risks in 3 million Hyundai Motor and Kia vehicles. The National Highway Traffic Safety Administration (NHTSA) said it was ending the probe after the Korean automakers previously issued eight recalls covering about 3 million …
US closes probe into 3 million Hyundai, Kia vehicles over fire risks Read More »
(Reuters) – I-Mab said on Wednesday it has agreed to divest its operations and assets in China as part of its strategy to become a U.S.-focused biotech firm, sending the company’s shares up nearly 11% in premarket trading. The company will sell its China unit, I-Mab Shanghai, to affiliate Hangzhou Co for up to $80 …
Biotech firm I-Mab to divest China operations, shift focus to US Read More »
BEIJING/LONDON (Reuters) – Chinese nickel giant Tsingshan Group’s nickel output rose 27% in 2023 to a record 1.12 million metric tons nickel unit, company data showed. The higher output contributed to the world’s growing supplies, pressuring prices of the metal used in stainless steel and battery making. The benchmark nickel contract on the London Metal …
Tsingshan’s 2023 nickel output jumps to record high Read More »
SEOUL (Reuters) – South Korea’s Hyundai Motor Co said on Wednesday that the listing of its Indian unit has not been decided and it will comment on the matter when the plan becomes finalised or within a month. “As a global company, we constantly review various measures, including listing overseas subsidiaries, to increase corporate value, …
Hyundai Motor says IPO for its India unit not decided yet Read More »
BEIJING (Reuters) – China’s new energy vehicle sales fell 38.8% versus the previous month, the first such drop since August 2023, industry data showed, as demand faltered in the world’s largest auto market despite a renewed discounting push led by Tesla. Vehicle sales, including those exported, totalled 2.44 million units, up 47.9% from a year …
China’s new energy vehicle sales fall 38.8% in Jan m/m, first such drop since Aug Read More »
SINGAPORE (Reuters) – Singapore sovereign wealth fund GIC’s current deputy chief operating officer Sam Kim will be appointed as COO as part of a wider senior leadership changes, it said a statement on Wednesday. GIC, one of the world’s biggest investors, said Bryan Yeo, currently its chief investment officer for public equities, will be appointed …
Singapore’s GIC makes senior leadership changes, appoints new COO Read More »
BEIJING (Reuters) – China’s foreign exchange reserves fell less than expected in January, official data showed on Wednesday, as the dollar rose against other major currencies. The country’s foreign exchange reserves – the world’s largest – fell by $18.66 billion to $3.219 trillion last month, compared with $3.217 trillion tipped by a Reuters poll of …
China forex reserves fall to $3.219 trln in January Read More »
By Xie Yu and Engen Tham HONG KONG/SHANGHAI (Reuters) – Shanghai plans to accelerate approvals for foreign firms wanting to send their local data offshore, four sources with knowledge of the matter said, in what would be a major relaxation of China’s stringent data rules unveiled more than a year ago. The Shanghai government in …
By Josh Ye HONG KONG (Reuters) -TikTok owner ByteDance said on Wednesday that Zhang Nan has resigned as the CEO of Douyin Group, the popular short video platform’s sister app in China, while assuming a new role to shepherd ByteDance’s video editing app. Zhang, who also uses the English first name Kelly, posted on her …
China video app Douyin Group CEO resigns to take new role within ByteDance Read More »
