By Lucia Mutikani and Jonathan Cable WASHINGTON/LONDON (Reuters) -Global factories delivered a largely patchy performance at the start of 2024, surveys showed on Thursday, as new orders spurred momentum in the United States, but soft Chinese demand left Asia’s economies on a shaky footing and disruption to Red Sea shipping delayed deliveries in Europe. In …
Factories deliver mixed performance globally in January Read More »
HONG KONG (Reuters) – Hong Kong’s retail sales rose for the 13th consecutive month in December as tourism continued to improve, official data showed on Thursday. Sales increased 7.8% year-on-year to HK$36.3 billion ($4.64 billion) in December, the Hong Kong government said. That compared with a 15.9% jump in November, a 5.8% rise in October, …
Hong Kong Dec retail sales up 7.8% as tourism recovers Read More »
By Idrees Ali, Alexandra Alper and Michael Martina WASHINGTON (Reuters) -The United States on Wednesday added more than a dozen Chinese companies to a list created by the Defense Department to highlight firms it says are allegedly working with Beijing’s military, as part of a broader effort to keep American technology from aiding China. New …
Pentagon calls out Chinese companies it says are helping Beijing’s military Read More »
LONDON (Reuters) – Funding of the global insurance technology (insurtech) sector dropped to $4.5 billion in 2023, down 44% from 2022 and off 72% from its 2021 peak, broker Gallagher Re said in a report on Thursday, after investors got burnt by frothy valuations. Poor performance by U.S. insurtech Lemonade, which has lost more than …
Global insurtech funding down 72% last year from 2021 peak -report Read More »
By Victoria Waldersee and Annegret Hilse BERLIN (Reuters) – Chinese EV giant BYD’s five models on sale in Germany will be showcased at a new BYD-only store in Berlin run by dealership Sternauto, in the latest sign that the carmaker is rapidly encroaching on European competitors’ turf. Sternauto, which has exclusive rights to sell BYD …
German dealership Sternauto opens BYD store in Berlin Read More »
TOKYO (Reuters) – JERA, Japan’s biggest power generator, will check two thermal power plants which are using woody biomass fuel similar to the Taketoyo thermal power station which was hit by a fire on Jan. 31, it said in a statement. Japan is the world’s second biggest buyer of liquefied natural gas (LNG) and any …
JERA to check two thermal power plants in Japan after Wednesday fire Read More »
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China will maintain fiscal expansion this year to spur an economic recovery, Vice Finance Minister Wang Dongwei said on Thursday, reinforcing market views that public spending will be the government’s main tool to lift growth. The government will “increase the intensity of fiscal macroeconomic adjustments, implement a …
China pledges to stick with fiscal expansion to spur economy Read More »
By Makiko Yamazaki TOKYO (Reuters) -Sumitomo Mitsui Financial Group (SMFG), Japan’s second-largest bank, on Thursday reported a 10.7% increase in third-quarter net profit as growing corporate activity at home boosted demand for loans. SMFG’s net interest income rose as the prospect of Japan exiting years of deflation spurred various corporate actions, including mergers and acquisitions. …
Japan’s SMFG reports solid Q3 profit on brisk lending in Japan Read More »
By Yelin Mo and Brenda Goh BEIJING/SHANGHAI (Reuters) – Nvidia has started taking pre-orders for a new China-specific artificial intelligence (AI) chip from distributors who are pricing it on par with a rival product from Huawei, sources familiar with the matter said. The graphics card, the H20, is the most powerful of three Nvidia has …
(Reuters) -South Korean chipmaker SK Hynix has chosen the state of Indiana for a cutting-edge facility in the United States, the Financial Times reported on Thursday. SK Hynix is considering a possible investment in the U.S. but hasn’t made a final decision yet, the company said in a statement to Reuters. The company’s new packaging …
SK Hynix to build advanced plant in Indiana in boost to US chip self-sufficiency – FT Read More »
