BEIJING/SHANGHAI (Reuters) – U.S. automaker Tesla delivered 72,115 China-made electric vehicles in October, down 2.6% from a month earlier, the China Passenger Car Association (CPCA) said on Thursday. Sales of China-made Model 3 and Model Y cars edged up 0.6% from a year earlier. Chinese rival BYD, which makes EVs and hybrid models from its …
Tesla’s Oct China-made EV sales fall 2.6% from Sept Read More »
By Leika Kihara TOKYO (Reuters) – The Bank of Japan may be underestimating the risk of being too late in addressing mounting inflationary pressures from rising service prices and wages, the central bank’s former top economist said. The bank on Tuesday raised its inflation forecasts to well above its 2% target for this year and …
BOJ risks being behind the curve on inflation: ex-central bank economist Read More »
SHANGHAI (Reuters) -China’s financial regulators are investigating a month-end liquidity crunch that saw short-term money rates surge to as much as 50%, asking some institutions to explain why they borrowed at extremely high rates, three sources said. The overnight rate for pledged repo – a short-term financing business – hit a record high of 50% …
China regulators probe liquidity stress that sent rates to record 50% – sources Read More »
By Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda will continue to dismantle the central bank’s ultra-easy monetary policy settings and look to exit the decade-long accommodative regime sometime next year, an inherently risky plan that would require skilful execution. Ultimately, however, the BOJ chief’s exit strategy will require a bit of …
Exclusive-BOJ plans to exit from easy policy next year but needs some good fortune Read More »
By Danial Azhar and Rozanna Latiff KUALA LUMPUR (Reuters) – Malaysia’s central bank kept its key interest rate unchanged on Thursday, warning of risks to the growth outlook and assuring it will manage heightened market volatility. Bank Negara Malaysia (BNM) maintained its overnight policy rate (OPR) at 3.00% for the third meeting in a row, …
Malaysia central bank holds rates for third meeting as risks grow Read More »
By Stephen Nellis SAN FRANCISCO (Reuters) – A wider bipartisan group of U.S. lawmakers is asking the Biden administration about its plans to respond to China’s rising use of RISC-V chip design technology after Reuters last month reported on growing concerns about it in both houses of Congress. RISC-V, pronounced “risk five,” is a free …
US lawmakers press Biden for plans on Chinese use of open chip technology Read More »
By Leika Kihara TOKYO (Reuters) – Japan’s economy likely shrank in the July-September period, the first contraction in four quarters, according to a Reuters poll, heightening challenges for the central bank’s exit from ultra-loose monetary policy. Gross domestic product (GDP) in the world’s third-largest economy was projected to have eased by an annualised 0.6% in …
Japan’s GDP likely shrank in Q3 as China slowdown hits exports: Reuters poll Read More »
By Makiko Yamazaki TOKYO (Reuters) – Japan’s Government Pension Investment Fund (GPIF) reported on Thursday its first negative return in three quarters with an investment loss of 683.2 billion yen ($4.54 billion) in July-September, as a policy tweak by the central bank hit the government bond market. The world’s largest pension fund lost 0.31% for …
Japan’s GPIF posts $4.5 billion investment loss in Q2 as BOJ tweak hits bonds Read More »
By Heekyong Yang and Hyunsu Yim SEOUL (Reuters) – South Korea’s Asiana Airlines said on Thursday its board had approved the sale of the company’s cargo business – an important step towards allaying EU competition concerns about a proposed takeover by Korean Air Lines. Korean Air, the country’s biggest carrier, said in a statement following …
Asiana backs sale of cargo unit, removing one hurdle to Korean Air merger Read More »
By David Shepardson (Reuters) -Toyota Motor said on Wednesday it is raising the wages of nonunion U.S. factory workers just days after the United Auto Workers union won major pay and benefit hikes from the Detroit Three automakers. Hourly manufacturing workers at top pay will receive a wage hike of about 9% effective on Jan. …
Toyota hikes wage of US factory workers after UAW labor deals Read More »
