Reuters Asia Business

By Jonathan Stempel (Reuters) -Toyota will pay $60 million to settle a U.S. regulator’s charges it illegally prevented car buyers from canceling unwanted product bundles that increased their monthly loan payments, and tarnished buyers’ credit reports. The Consumer Financial Protection Bureau (CFPB) on Monday said Toyota Motor Credit, the automaker’s U.S.-based lending arm, will pay …

Toyota to pay $60 million for lending abuses, tarnishing credit reports, US regulator says Read More »

By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators on Monday said they had opened a probe into 16 separate recalls issued by Hyundai and Kia covering 6.4 million vehicles relating to brake fluid leaks that could result in fires. The affiliated Korean automakers have issued a string of recalls since 2016 for antilock braking …

US probes Hyundai, Kia recall into 6.4 million vehicles over fire risks Read More »

By Arathy Somasekhar HOUSTON (Reuters) – Polish oil and gas firm Orlen has provisionally chartered a supertanker to load Venezuelan oil for China, according to a shipbroker and tracking data, following a temporary easing of U.S. sanctions on the South American country. The Very Large Crude Carrier (VLCC) Olympic Trophy, chartered for $13 million, is …

Supertanker chartered by Polish firm to load Venezuelan oil for China Read More »

BEIJING (Reuters) – China’s Central Financial Commission (CFC), with Premier Li Qiang in place as its head, urged stronger supervision of risks in the multi-trillion dollar financial sector as China steps up the pace towards becoming a “major financial power”. In a meeting presided by Li, the CFC called for greater focus on developing fintech, …

Chinese financial watchdog warns of risks as Premier Li takes helm Read More »

BEIJING (Reuters) – China’s exports of gallium and germanium products picked up in October, customs data showed on Monday, although volumes are still well below year-ago levels due to restrictions on exports introduced in August. China exported 648 kilograms of wrought and unwrought germanium products last month, versus 1 kilogram in September, and 2.41 tons …

China’s Oct germanium exports rise, but export restrictions limit gains Read More »

By Clare Baldwin and Helen Reid (Reuters) -Waste from at least 19 international brands including Adidas and Walmart is being used to fuel kilns in brick factories in Cambodia, and some workers were falling ill, according to a report by a local rights group released on Monday. The report by The Cambodian League for the …

Waste from Adidas, Walmart, other brands fuelling Cambodia brick kilns-report Read More »

TOKYO (Reuters) – Japanese battery maker GS Yuasa said on Monday it would raise as much as 47.2 billion yen ($315.47 million) in a sale of new shares and third-party allotment to Honda Motor. GS Yuasa said it would use the funds for capital expenditure on a new plant to make lithium-ion batteries for electric …

GS Yuasa to raise up to $315 million in share sale to Honda Read More »

By Tetsushi Kajimoto and Kentaro Sugiyama TOKYO (Reuters) – Japan’s big employers are set to follow this year’s bumper pay hikes with another round in 2024, which are expected to help lift household spending and give the central bank the conditions it needs to finally roll back massive monetary stimulus. Early indications from businesses, unions …

Analysis-Japan’s back-to-back wage bonanza would open door for BOJ exit Read More »

TAIPEI (Reuters) -Shares in Foxtron Vehicle Technologies, a unit of Taiwanese contract manufacturer Foxconn, fell in their market debut on Monday, hurt by concerns over headwinds in the highly competitive electric vehicle market. Foxtron shares did recover some ground from earlier losses of as much as 9%, ending down 2.7% which gave it a market …

Foxconn’s electric car unit falls in market debut amid tough industry outlook Read More »