SHANGHAI (Reuters) – China’s short-term money rates spiked on Tuesday, the last trading day of the month, driven up by higher seasonal demand for cash, while markets continue to expect the central bank to inject more liquidity in coming months to shore up a fragile economic recovery. The benchmark overnight repo traded in the interbank …
China’s short-term money rates spike, markets expect more policy easing Read More »
By Joe Cash BEIJING (Reuters) – China’s manufacturing activity unexpectedly contracted in October, underlining the daunting task facing policymakers as they try to revitalise economic growth heading into the end of the year and 2024 amid multiple challenges at home and abroad. Recent indicators pointed to encouraging signs of stabilising in the world’s second-largest economy, …
China factory activity unexpectedly shrinks in Oct, dents recovery momentum Read More »
By Casey Hall and Sophie Yu SHANGHAI (Reuters) – China’s Alibaba is pressuring merchants to offer rock-bottom prices on its marketplaces in this year’s Singles Day extravaganza, three industry sources said, as the e-commerce company seeks to boost sales and stem a drop in market share. The sources, who help dozens of brands operate their …
Alibaba banks on aggressive Singles Day pricing to recoup sales mojo Read More »
By Sam Nussey TOKYO (Reuters) -Taiwanese chipmaker Powerchip Semiconductor Manufacturing Corp and Japanese financial firm SBI Holdings said on Tuesday they have selected Miyagi prefecture in northern Japan as the location for a planned $5.4 billion foundry. While the project has yet to receive government subsidies, Reuters reported this month that talks were progressing in …
Taiwan’s Powerchip chooses northern Japan for planned $5.4 billion fab Read More »
(Reuters) -BlackBerry’s CEO John Chen will retire at the end of the week after a decade at the helm of the Canadian technology firm where he oversaw its pivot from a hardware and devices company to one that focuses on enterprise software. The company on Monday named Richard Lynch, a director on BlackBerry’s board, as …
BlackBerry CEO Chen to retire, director Lynch to hold interim charge Read More »
By James Davey LONDON (Reuters) -Shein, the China-founded fast-fashion retailer, has bought the Missguided brand from Mike Ashley’s Frasers, the e-commerce giant’s first purchase of a British brand. Frasers said on Monday Shein would acquire the intellectual property and trademarks of Missguided, while Frasers would retain its real estate and employees which have now been …
Shein buys Missguided brand from Britain’s Frasers Read More »
LONDON (Reuters) – Tech firms including TikTok, Snapchat and Stability AI have signed a joint statement pledging to work together to counter child sex abuse images generated by artificial intelligence. Britain announced the joint statement – which also listed the United States, German and Australian governments among its 27 signatories – at an event on …
TikTok, Snapchat and others sign pledge to tackle AI-generated child sex abuse images Read More »
(Story refiled without change) BRUSSELS (Reuters) – EU antitrust regulators said on Monday they cleared Hitachi’s 1.7-billion-euro ($1.80 billion) bid for Thales’ GTS railway signalling business on condition the Japanese company sells assets in France and Germany, as it offered to do so. Reuters reported two weeks ago the European Commission was about to clear …
Hitachi wins EU okay for $1.8 billion Thales deal Read More »
TOKYO (Reuters) – Japan’s government warned on Monday that the conflict in the Middle East could impact the economy through energy costs, while keeping its view that the economy was recovering moderately. The concerns underscore policymakers’ worries as the rising energy prices have already been a burden for the world’s third-largest economy that relies on …
Japan’s monthly report warns Middle East situation could impact economy Read More »
(Reuters) – Asia’s largest oil and gas producer PetroChina Co Ltd reported 21% year-on-year growth in third-quarter net profit, as higher production offset lower realised oil and gas prices. Net profit reached 46.38 billion yuan ($6.34 billion), the company said in a stock filing on Monday. Its crude oil output between January and September rose …
PetroChina’s Q3 net profit up 21% on higher output Read More »
