Reuters Asia Business

TOKYO (Reuters) – Masanori Mochida, president of Goldman Sachs’ Japanese unit, will retire after more than three decades at the U.S. investment bank, a person familiar with the matter told Reuters on Friday. Mochida, who is in his late sixties, joined Goldman Sachs in 1985 as an associate in the corporate finance department from Japan’s …

Goldman Sachs Japan president to retire after nearly four decades at U.S. bank -source Read More »

By Abhirup Roy LOS ANGELES (Reuters) – Hyundai Motor and Kia see strong U.S. demand for electric vehicles (EVs), senior executives at the South Korean automakers told Reuters ahead of the Los Angeles Auto Show. The comments run against industry fears that inflation and higher interest rates will undermine the boom in EV sales. Other …

Hyundai, Kia see strong demand for EVs, despite rivals’ concerns Read More »

BEIJING (Reuters) – China will allow road trials of some intelligent connected vehicles (ICVs) in designated city areas, the industry ministry said on Friday. The world’s largest auto market has set its long-term strategic focus on ICVs in a push to become the leading global player in the still nascent industry. The trials apply to …

China to allow road trials of intelligent connected vehicles Read More »

(Reuters) – Alibaba co-founder Jack Ma is “very positive” about the company and will continue to hold its shares, the South China Morning Post reported on Friday, citing a communiqué from his office. The comments from Ma’s office come a day after a regulatory filing showed that his family trust was set to sell 10 …

Jack Ma positive on Alibaba, will continue to hold shares – South China Morning Post Read More »

By Casey Hall and Akash Sriram (Reuters) -Alibaba Group has scrapped plans to spin-off its cloud business, citing uncertainties created by U.S. export curbs on chips used in artificial intelligence applications. The U.S. decision last month to ban the export to China of more chips used in artificial intelligence (AI) has created major uncertainties for …

Alibaba scraps cloud business spin-off citing US chip export ban Read More »

OSLO (Reuters) -Shares of Swedish automaker Volvo Cars fell 14% on Friday as its majority shareholder, China’s Geely, sold a small part of its stake at a deep discount to the previous day’s closing price. Geely on Thursday launched a placing of 100 million Volvo Cars shares, which the deal’s bookrunners said after the market …

Volvo Cars shares drop to record low as Geely trims stake Read More »

By Donny Kwok and Josh Ye HONG KONG (Reuters) – Alibaba Group’s Hong Kong shares slumped 10% on Friday after it scrapped plans to spin off its cloud business, citing uncertainties fuelled by U.S. curbs on exports to China of semiconductors used in artificial intelligence applications. The drop, potentially its biggest one-day fall in more …

Alibaba’s U-turn on cloud unit spin-off lops $20 billion off its market value Read More »

BEIJING (Reuters) – China offered to buy more goods from Brunei and to encourage investment in the Islamic sultanate as President Xi Jinping lauded relations with the tiny nation that have centred more on economics than territorial disputes in the South China Sea. In his meeting with Brunei’s Sultan Hassanal Bolkiah in San Francisco on …

China’s Xi offers more investment in South China Sea claimant Brunei Read More »