By David Lawder and Ann Saphir SAN FRANCISCO (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said the U.S. government had seen evidence that Chinese firms may be aiding in the flow of equipment to Russia’s war effort despite Western sanctions, and said she had urged China to crack down. Yellen said she raised …
Yellen warns Beijing: Chinese firms aiding Russia face ‘significant consequences’ Read More »
By Ann Saphir and David Lawder SAN FRANCISCO (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said the ransomware attack on the Industrial and Commercial Bank of China that disrupted China’s largest bank had not interfered with the market for U.S. government debt. “We have not seen an impact on the Treasury market,” Yellen …
Yellen: no impact on US Treasury market from ICBC hack Read More »
(Reuters) -Honda Motor said on Friday it was implementing an 11% pay hike for production workers at its U.S. facilities from January, days after the United Auto Workers (UAW) union and the Detroit Three automakers agreed to new contracts. The company also said it would cut the time it takes for a worker to get …
Honda hikes production workers’ pay 11% after UAW deals with Detroit Three Read More »
By Pete Schroeder and Zeba Siddiqui (Reuters) – The Industrial and Commercial Bank of China’s (ICBC) U.S. arm was hit by a ransomware attack that disrupted trades in the U.S. Treasury market on Thursday, the latest in a string of victims ransom-demanding hackers have claimed this year. ICBC Financial Services, the U.S. unit of China’s …
China’s biggest lender ICBC hit by ransomware attack Read More »
By Andrew Hayley and Colleen Howe BEIJING (Reuters) -China’s state planner said on Friday that coal-fired power producers will be guaranteed payments based on their installed capacity, as the country seeks to ensure stability of supply while transitioning towards variable renewable power sources. The move, which will take effect from Jan. 1, 2024, was widely …
China to guarantee payments to coal power producers based on capacity Read More »
BEIJING (Reuters) – China’s central bank on Friday issued draft capital management rules on domestic securities and futures investments by foreign institutional investors, according to a statement on its website. It will further streamline registration procedures for foreign inbound investment and facilitate foreign exchange risk management for QFII and RQFII investors. (Reporting by Albee Zhang, …
China issues draft capital management rules for foreign investors Read More »
By Muyu Xu (Reuters) – China’s oil imports from Iran have hit record highs as Iran ramps up output despite the threat of further U.S. sanctions. Existing sanctions were implemented over Iran’s nuclear programme, and U.S. lawmakers are seeking to exert further pressure after the Oct. 7 attacks on Israel by Hamas, which has long …
Explainer-Iran’s expanding oil trade with top buyer China Read More »
By Echo Wang NEW YORK (Reuters) – China Investment Corp (CIC) has hired a new North America head for its New York office, two people familiar with the matter said, filling a months-long vacancy and showing the sovereign wealth fund wants to maintain the outpost despite flaring U.S.-Sino tensions. New York is the $1.35 trillion …
Exclusive-China’s sovereign fund appoints new North America chief -sources Read More »
By Chen Lin SINGAPORE (Reuters) – Asia-Pacific airlines face headwinds from rising fuel prices and high inflation, industry executives said on Friday, adding to a downbeat outlook for a segment where travel demand is struggling to recover fully to pre-pandemic levels. The region’s air travel recovered to just 69% of 2019 levels for the year …
Asia airlines brace for cost hit, slow return of Chinese fliers – industry execs Read More »
HONG KONG (Reuters) – Hong Kong’s economy expanded 4.1% in the third quarter from a year earlier, the government said on Friday, adding that inbound tourism and private consumption would underpin growth for the rest of the year. On a seasonally adjusted quarterly basis, the economy grew 0.1% in the July-September period. That compared with …
Hong Kong Q3 GDP expands 4.1% y/y, growth forecast revised lower Read More »
