LONDON (Reuters) – South Korean businesses will invest 21 billion pounds ($26 billion) into Britain, the British government said on Tuesday, ahead of the launch of talks over a modernised trade deal between the two countries. The new investment includes a 9.7 billion pound injection over ten years from South Korea’s Sovereign Wealth Fund into …
South Korean businesses to invest $26 billion into Britain Read More »
(Reuters) – China’s Baidu on Tuesday beat third-quarter revenue estimates, helped by strength in advertising. Revenue for the quarter ended Sept. 30 was 34.45 billion yuan ($4.72 billion), compared with analysts’ estimate of 34.33 billion yuan, according to LSEG data. Advertisers are increasing their spending on online services as the Chinese economy shows sings of …
Baidu reports third-quarter revenue above estimates Read More »
BEIJING (Reuters) – China’s central bank has told some banks to bring forward some of the loans they plan to extend in early 2024 to late this year and to not overdo lending in the first quarter, three sources with knowledge of the matter said. The move appears aimed at having fewer periods of sharp …
China’s central bank tells lenders to bring forward some lending -sources Read More »
By John Biju, Kane Wu and Yantoultra Ngui (Reuters) -Hong Kong-based tissue and diaper maker Vinda International on Monday confirmed that Essity has held preliminary discussions with a number of third parties for a sale of the Swedish company’s majority stake in Vinda. Essity’s 51.59% stake in Vinda was worth HK$12.19 billion ($1.6 billion) as …
Hong Kong’s Vinda confirms Essity in preliminary talks on stake sale Read More »
BEIJING (Reuters) – China’s Central Financial Commission (CFC), a new regulator with Premier Li Qiang as its head, held a meeting on Monday and urged stronger supervision of risks in the financial sector as Beijing accelerates efforts to become a “major financial power”. The setting up of the CFC underscores how the ruling Chinese Communist …
Factbox-What do we know about China’s new financial watchdog? Read More »
SHANGHAI (Reuters) – Chinese electric vehicle maker Nio said on Tuesday that it would partner with state-owned Changan Automobile on developing battery-swapping EVs. Nio would also team up with Changan on building and sharing battery-swapping stations and standardising batteries to promote battery-swapping technology, Nio said in a statement to Reuters. (Reporting by Zhang Yan, Brenda …
China’s Nio to partner with Changan Auto on developing battery-swapping EVs Read More »
MILAN (Reuters) – Carmaker Stellantis and Chinese EV battery giant CATL said on Tuesday they signed a preliminary agreement for the supply of battery cells and modules for the automaker’s electric vehicle (EV) production in Europe. The two companies said in a joint statement they were also considering a possible investment to set up a …
Stellantis, CATL sign preliminary deal for LFP battery supply in Europe, consider JV Read More »
By Kane Wu and Granth Vanaik (Reuters) -McDonald’s said it had struck a deal to ramp up its stake in its China business to just under 50%, expressing confidence in the burger chain’s growth prospects in the world’s second-largest economy. The move contrasts sharply with the prevailing trend of multinational corporations reeling back investments in …
McDonald’s bullish on China growth prospects as it boosts stake in local business Read More »
JAKARTA (Reuters) – Indonesia launched on Tuesday its investment plan to mobilise $20 billion in financing pledged by global lenders led by the United States and Japan to accelerate its power sector decarbonisation and called for immediate fund disbursement. Under Indonesia’s Just Energy Transition Partnership (JETP) the country seeks to cut carbon dioxide emissions to …
Indonesia launches $20 billion renewable energy investment plan Read More »
(Reuters) – Nissan Motor said Monday it will hike top wages for workers at U.S. manufacturing plants by 10% in January after the United Auto Workers union reached new contracts with the Detroit Three automakers. The Japanese automaker said the wage hike takes effect Jan. 8 for production technicians, maintenance, and tool & die technicians. …
Nissan Motor hiking wages at US auto plants after UAW deal Read More »
