By Joyce Lee SEOUL (Reuters) – South Korean tech giant Kakao faces growing regulatory heat after the country’s president urged a review into its taxi app amid complaints about monopolistic practices, which comes on the heels of a probe into suspected stock market manipulation. Shares in Kakao Corp, which operates Korea’s dominant chat app KakaoTalk …
Kakao faces growing regulatory risks as political scrutiny rises Read More »
SEOUL (Reuters) – South Korea’s foreign exchange reserves dropped in October to the lowest level in more than three years, as authorities deployed measures to curb weakness in the local currency, central bank data showed on Friday. The country’s FX reserves stood at $412.87 billion at the end of the month, down from $414.12 billion …
South Korea foreign exchange reserves drop to lowest since mid-2020 Read More »
(Reuters) -Japan’s Nippon Steel said on Thursday it had dropped lawsuits against Toyota Motor and Mitsui & Co over electrical steel sheet patents, but continues to seek damages from China’s Baoshan Iron & Steel (Baosteel). Nippon Steel’s lawsuits, which were filed in 2021, sought compensatory damages from Toyota, Baosteel, Mitsui and Mitsui & Co. Steel, …
Nippon Steel drops patent lawsuits against Toyota, Mitsui Read More »
SEOUL (Reuters) – South Korea’s Samsung Display has filed a complaint against China’s BOE Technology Group to the United States’ International Trade Commission (ITC) that BOE misappropriated Samsung’s trade secrets, according to an ITC document on Thursday. It is the first time the display panel maker has filed a complaint to the ITC against rival …
Samsung Display files complaint in U.S. against China’s BOE alleging trade secret leak Read More »
By Valerie Volcovici WASHINGTON (Reuters) -China, the world’s largest emitter of methane, is expected to unveil its strategy to cut output of the greenhouse gas “imminently” but may stop short of setting specific reduction targets, two people familiar with the plan said. China produces over 14% of global methane emissions, but has so far resisted …
China methane reduction plan to be released soon, but may lack clear targets – sources Read More »
LONDON (Reuters) – Elon Musk said it would be good for Britain, the United States and China to be aligned on the safety aspects of artificial intelligence at an event with British Prime Minister Rishi Sunak in London on Thursday. Sunak interviewed Musk on a small stage in a gilded room at Lancaster House, one …
Elon Musk says good for UK, US and China to align on AI safety Read More »
By Timothy Gardner and Sabrina Valle WASHINGTON (Reuters) – Nearly two years after U.S. energy company Chevron condemned violence and human rights abuses in Myanmar and announced it would leave, the company said it still holds assets there, including a portion of an offshore gas field in a venture with the state energy company. Chevron …
Chevron struggles to exit Myanmar gas project after nearly two years Read More »
By David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday sought to reassure Asian countries that the U.S. approach to China would not lead to a ‘disastrous’ division of the global economy that would force them to take sides. In a speech ahead of the U.S.-hosted Asia Pacific Economic Cooperation Summit in San …
Yellen: Indo-Pacific allies should not have to choose between US, China Read More »
By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) -Japanese trading houses Mitsubishi, Marubeni and Sumitomo on Thursday lifted full-year profit and dividend forecasts as weaker yen and non-resource businesses are set to support operations after a drop in half-year results. Trading houses’ profits have fallen from last year’s peaks, when commodity prices skyrocketed after Russia’s …
Weak yen, non-resource businesses lift Japan trading houses’ profit forecasts Read More »
By Leika Kihara and Yoshifumi Takemoto TOKYO (Reuters) -Japan’s government on Thursday compiled a package of measures to cushion the economic blow from inflation that will involve spending of more than 17 trillion yen ($113 billion), a move that could worsen the country’s already tattered finances. To fund part of the spending, the government will …
Japan compiles $113-billion package to cushion inflation Read More »
