By Josh Ye HONG KONG (Reuters) – U.S. curbs on the sales of advanced artificial chips by Nvidia to China are creating an opening for Huawei to win market share, with sources saying it won a sizeable AI chip order from Chinese tech giant Baidu this year. Better known globally for its telecoms and smartphones …
Factbox-How Huawei plans to rival Nvidia in the AI chip business Read More »
SHANGHAI (Reuters) – Japan’s Toyota Motor has told dealers that it will extend a plan to reduce output at one of its joint ventures in China, where it faces rising competition. The cut, which was initially for October and November, will be extended by three months, Toyota’s joint venture with China’s state-owned FAW Group said …
Toyota extends output cut at Chinese JV to ease dealer pressure Read More »
By Josh Ye HONG KONG (Reuters) – ByteDance’s virtual reality (VR) arm Pico will cut jobs and undertake its biggest overhaul since it was acquired by the TikTok maker two years ago as global demand for VR headsets weakens, three people with direct knowledge of the matter said. China-based Pico held an internal meeting on …
China’s ByteDance to overhaul VR arm Pico as global demand declines -sources Read More »
BEIJING (Reuters) -The International Monetary Fund on Tuesday upgraded its 2023 gross domestic product growth forecast for China to 5.4% from 5%, citing a “strong” post-COVID-19 recovery, but said the fund still expected the world’s second-biggest economy to slow next year. GDP growth could slow to 4.6% in 2024 because of continued weakness in China’s …
IMF upgrades China’s 2023, 2024 GDP growth forecasts Read More »
By Cynthia Kim and Jihoon Lee SEOUL (Reuters) – South Korea’s finance minister defended the government’s ban on short-selling of stocks, an announcement that comes ahead of general elections next year and has drawn criticism from market players who say the move could hurt the country’s global credibility. “Yes, it is rightfully done,” Choo Kyung-ho …
South Korea finance chief defends short-sell ban ahead of elections Read More »
By Sam Nussey TOKYO (Reuters) -Nintendo on Tuesday raised its operating profit forecast for the financial year ending March by 11% to 500 billion yen ($3.32 billion) as heavy-hitting franchises continued to attract gamers to its aging Switch console. The Kyoto-based gaming firm has extended the lifecycle of the hybrid home/portable device, now in its …
Nintendo hikes profit forecast as Switch battles on Read More »
By Takaya Yamaguchi TOKYO (Reuters) – The head of the tax panel for the Japanese political party Komeito, a junior coalition partner with the ruling Liberal Democratic Party (LDP), said on Tuesday a thorough debate is needed on a controversial plan to cut income tax next year. Makoto Nishida, Komeito’s tax panel head, said that …
Japanese junior coalition party calls for debate on income tax cuts Read More »
By Miho Uranaka and Yoshifumi Takemoto TOKYO (Reuters) -Japan will make sure its energy supplies are not affected by sanctions the United States recently imposed on the Arctic LNG 2 project in Russia in which it has a stake, Industry Minister Yasutoshi Nishimura said on Tuesday. Japan, the world’s second-largest liquefied natural gas (LNG) buyer, …
Japan says to ensure U.S. sanctions on Russia LNG project won’t harm supplies Read More »
(Reuters) – More automakers signed up to access Tesla’s electric-vehicle charging infrastructure across the United States, taking the Elon Musk-led company’s superchargers closer to becoming the industry standard. Texas has approved a plan to require EV charging companies to include Tesla’s plug if they want to be eligible for federal funds. Tesla’s North American Charging …
Factbox-More automakers plug into Tesla’s EV charging network Read More »
By Kane Wu and Makiko Yamazaki HONG KONG/TOKYO (Reuters) – Carlyle Group is planning to sell Japanese cosmetics supplier Tokiwa Corp in a deal that could fetch $1 billion, two sources with knowledge of the matter said. The investment firm has tapped Jefferies and SMBC Nikko Securities as advisors to work on the sale of …
Carlyle to sell Japanese cosmetics supplier Tokiwa in $1 billion deal -sources Read More »
