Reuters Asia Business

SHANGHAI (Reuters) -China’s blue-chip stocks slumped to an almost five-year trough on Wednesday while the yuan currency extended losses, as markets grappled with Moody’s cut to China’s credit outlook at a time of growing worries about the economy’s stuttering recovery. On Tuesday, the ratings agency issued a downgrade warning on China’s A1 sovereign credit rating, …

China blue-chip stocks hit 5-year lows, yuan eases after Moody’s move Read More »

By Foo Yun Chee BRUSSELS (Reuters) – Lobby group Japan Association of New Economy has joined U.S. Big Tech to warn against proposed EU cybersecurity labelling rules that they said could hamper their access to the bloc’s markets, according to a letter sent to the EU industry chief. The European Union wants to set up …

Japanese tech lobby warns against EU cybersecurity labelling scheme Read More »

(Reuters) -Hours before Moody’s downgraded the outlook for China’s sovereign credit ratings on Tuesday, speculation that such a move was imminent was circulating on Chinese social media platform WeChat, a Reuters review shows. “It is said that Moody’s will downgrade China’s sovereign credit rating, and an announcement will be made in the afternoon,” according to …

Speculation of Moody’s China downgrade seen ahead of release in Chinese social media Read More »

By Victoria Waldersee BERLIN (Reuters) – A Volkswagen-commissioned audit of its jointly owned site in Xinjiang, China, had found no signs of forced labour, the automaker said on Tuesday, although the auditor added that the challenges of data collection in China were widely known. The audit, which was carried out by German human rights due …

Volkswagen says audit finds no sign of forced labour at Xinjiang site Read More »

SHANGHAI (Reuters) -China’s major state-owned banks were busy buying the yuan in currency markets on Tuesday to prevent it from weakening too much, two sources with knowledge of the matter said, with buying intensifying after rating agency Moody’s cut China’s outlook to negative in the afternoon. State banks were spotted swapping yuan for U.S. dollars …

China’s state banks seen supporting yuan as Moody’s cuts outlook – sources Read More »

By Gloria Dickie DUBAI – When temperatures climbed north of 40 degrees Celsius (104 degrees Fahrenheit) in Seville during this summer’s crushing heatwave in Europe, air conditioning use jumped 23% in the southern Spanish city compared to how many hours ACs ran during the same period in 2022.  Lisbon’s average AC use, too, went up …

AC companies plan cool designs for warming world, but high costs a hurdle Read More »

TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s largest contract electronics maker and a major Apple supplier, on Tuesday raised its outlook for the fourth quarter on strong year-end sales for the holiday peak season. The fourth quarter is traditionally the hot season for Taiwan’s tech companies as they race to supply smartphones, tablets and other …

Foxconn raises Q4 outlook on strong year-end holiday sales Read More »

By Nick Carey and Anton Bridge LONDON/TOKYO (Reuters) – SoftBank Corp will invest roughly 473 million euros ($514 million) to take a 51% equity stake in Cubic Telecom that will give the Dublin-based connected-vehicle technology provider greater access to Asian automakers. The Japanese telecommunications arm of tech investment giant SoftBank Group and Cubic “will form …

SoftBank Corp buys $514 million majority stake in car software firm Cubic Telecom Read More »