HANOI (Reuters) -Shares of Vietnam’s largest conglomerate Vingroup and its real estate unit Vinhomes both slid nearly 7% on Thursday, after Vingroup unveiled plans to raise funds. Traders and stock brokers said market speculation about Vingroup’s plans to issue new bonds to fund the redemption of its maturing bonds may have raised concerns about its …
Shares of Vietnam’s largest conglomerate Vingroup, unit slump Read More »
By Lawrence White and Selena Li LONDON/HONG KONG (Reuters) – StanChart shares fell as much as 17% in London on Thursday before trading was temporarily halted, after it announced a profit slump driven by a combined nearly $1 billion hit from its exposure to China’s real estate and banking sectors. The bank said pre-tax profit …
StanChart shares plummet on almost $1 billion hit from China exposure Read More »
SEOUL (Reuters) – The outlook for business sentiment at South Korean service firms for November dropped to the weakest level in nearly three years, a central bank survey showed on Thursday. The Bank of Korea’s (BOK) seasonally adjusted business outlook index for the non-manufacturing sector fell to 69 for November from 77 for October. It …
Outlook for South Korean service firms most pessimistic since early 2021 Read More »
(Reuters) – U.S. officials “frankly raised areas of disagreement” with China at the first meeting of a new financial working group, where financial stability, supervision and regulation were discussed, the U.S. Treasury said on Wednesday. Attendees included senior officials from China’s central bank and the U.S. Treasury Department, according to a Treasury statement. “The two-hour …
US ‘frankly raised’ disagreements with China at first financial working group meeting Read More »
By Gilles Guillaume and Giulio Piovaccari (Reuters) -Stellantis NV is nearing a deal to acquire a stake in electric vehicle company Zhejiang Leapmotor <9863.HK>, a source close to the matter said on Wednesday, and the car maker said it would give an important update on Thursday. Earlier on Wednesday, Bloomberg reported that Stellantis was close …
Stellantis nears deal to buy stake in Chinese EV maker Leapmotor -source Read More »
MUNICH (Reuters) – German chip-making kit supplier Süss MicroTec cut its sales forecasts for the second time in three months, blaming tightened government controls for exports to China, sending shares tumbling 11%. The south German company said on Wednesday that deliveries worth 23.5 million euros ($24.86 million) were stuck at customs, adding that, though rules …
German chip kit supplier hit by tightened China export scrutiny Read More »
TOKYO (Reuters) -Honda Motor and General Motors (GM) are scrapping a plan to jointly develop affordable electric vehicles (EVs), the companies said on Wednesday, just a year after they agreed to work together in a $5 billion effort to try to beat Tesla in sales. The decision underscores GM’s strategic shift to slow the launch …
Honda, GM scrap $5 billion plan to co-develop cheaper EVs Read More »
By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia will likely book a smaller-than-expected budget deficit this year, even after taking into account President Joko Widodo’s new incentives to boost growth, which will be rolled out later in 2023, its finance minister said on Wednesday. Without providing a new figure, Sri Mulyani Indrawati told a press conference …
Indonesia Finance Minister predicts smaller 2023 budget deficit Read More »
SINGAPORE (Reuters) – M&G Investments said on Wednesday it has appointed Amy Cho as Asia Pacific head and chief executive officer (CEO) of M&G Investments Singapore, subject to regulatory approval. Cho, who was most recently at Schroders where she was CEO of Hong Kong and deputy head of Asia Pacific, will join the investment manager …
M&G Investments appoints Amy Cho as Asia Pacific head Read More »
TAIPEI (Reuters) – Taiwanese chipmaker United Microelectronics Corp (UMC) said on Wednesday it sees gradually stabilising demand in the fourth quarter with recent “rush orders” for personal computers and smartphones, but added that customers remain cautious. The semiconductor industry has come under pressure as global economic woes dent demand for chips used in everything from …
Taiwan chipmaker UMC sees demand stabilising, with ‘rush’ PC, smartphone orders Read More »
