Reuters Asia Business

By Josh Ye HONG KONG (Reuters) – TikTok owner ByteDance said on Tuesday it is not shutting its virtual reality (VR) business Pico and remains committed to the industry for the long term, after reports that the Chinese company plans to gradually wind down the brand. The statement came after Chinese research firm EqualOcean published …

ByteDance says committed to VR business Pico after report of it shutting brand Read More »

TOKYO (Reuters) – Cosmo Energy Holdings said on Tuesday it would call another shareholder vote on a “poison pill” takeover defence against a group of activist investors, escalating the high-profile battle. Cosmo, however, said it will not eliminate the group, led by prominent activist Yoshiaki Murakami, from voting this time, unlike the previous vote in …

Japan’s Cosmo calls another shareholder vote in activist defence Read More »

By Daniel Leussink and Gilles Guillaume TOKYO/PARIS (Reuters) – Japanese automaker Mitsubishi Motors will invest up to 200 million euros ($214 million) in the new electric vehicle unit of French counterpart Renault, Mitsubishi said on Tuesday. Renault Chairman Jean-Dominique Senard, speaking on the sidelines of an event in Paris, said he welcomed Mitsubishi’s investment and …

Mitsubishi Motors to invest up to 200 million euros into Renault’s new EV unit Read More »

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – A key measure of Japan’s trend inflation accelerated to 2% in September, hitting a record and matching the central bank’s target, data showed on Tuesday, heightening the case for dialling back its massive monetary stimulus. The data adds to recent growing signs of broadening inflationary pressure …

Japan’s price trend gauge hits record, signals broadening inflation Read More »

By Kevin Yao BEIJING (Reuters) – China is set to unleash fresh fiscal stimulus to shore up its economic recovery, drawing on a well-used playbook that relies heavily on debt and state spending but falls short on the deeper reforms called for by a growing number of analysts. Some government advisers are recommending China lifts …

Analysis-China to choose fiscal muscle over big reforms to revive economy Read More »

LONDON (Reuters) – British advertising giant WPP said on Monday it had fired an executive at its GroupM media agency in China after authorities detained the unnamed person on charges of bribery last week. The executive was one of four people linked to GroupM questioned by authorities in Shanghai, Reuters reported on Saturday, citing two …

WPP fires executive detained on bribery charges in China Read More »

BEIJING (Reuters) -Top Chinese beer maker Tsingtao Brewery said on Monday it had alerted police and taken steps to prevent contamination after a video apparently showing a worker urinating into a container of beer ingredients went viral. The video, which showed a warehouse worker in blue overalls and yellow hat climbing into a container and …

Chinese brewer alerts police after worker filmed urinating in tank Read More »

By Andrew Silver and Selena Li SHANGHAI/HONG KONG (Reuters) – Three listed Chinese drugmakers, whose investors include or use some of the world’s biggest banks, used parts of endangered animals as ingredients in their products, an environmental group said in a report published Monday. The London-based Environmental Investigation Agency (EIA) urged investors in Beijing Tong …

Chinese listed firms used endangered animal parts as ingredients -report Read More »