BEIJING (Reuters) – J.P.Morgan and ANZ on Friday raised their 2023 economic growth forecast for China, after August economic numbers offered some signs of stabilization in the world’s second-largest economy. Both raised their GDP forecast by 20 basis points each to 5% and 5.1% respectively, with JPM saying notable recovery in retail sales and rise …
By Makiko Yamazaki TOKYO (Reuters) – Toshiba’s largest shareholder Effissimo Capital Management has decided to tender its 9.9% stake in the $14 billion takeover offer by Japan Industrial Partners (JIP), a source said on Friday, raising the odds of the bid succeeding. JIP, a private equity firm, launched a 4,620 yen-per-share bid to take Toshiba …
Toshiba’s top investor to sell stake in JIP offer, source says Read More »
BEIJING (Reuters) – China’s fiscal revenue rose 10% in the Jan-Aug period of 2023, slower than 11.5% growth in Jan-July, official data showed, even as the economy showed signs of stabilisation in the wake of recent policy support measures. Fiscal revenue totalled 15.18 trillion yuan ($2.09 trillion) for the eight months, while fiscal expenditures grew …
China’s Jan-Aug fiscal revenue growth slows despite policy support Read More »
BEIJING (Reuters) – China’s government land sales revenue fell for the 20th consecutive month in August, data from the finance ministry showed on Friday, signalling more pressure on local governments with deepening debt woes. Land sale revenues fell 22.2% from a year earlier in August, after falling 10.1% the previous month, according to Reuters calculations …
China’s August land sale revenue falls for 20th straight month Read More »
By Reinhard Becker and Sarah Marsh BERLIN (Reuters) – Imports of Chinese vehicles and parts to Germany jumped 75% in the first half of the year while trade the other way slumped, showing the mounting pressure on Europe’s biggest auto production hub. Several Chinese brands entered the German market this year, the German Economic Institute …
German autos production under growing threat from China – IW study Read More »
By Sam Nussey, Fanny Potkin and Toby Sterling TOKYO/SINGAPORE/AMSTERDAM (Reuters) -Taiwan’s TSMC has told its major suppliers to delay the delivery of high-end chipmaking equipment, as the world’s top contract chipmaker grows increasingly nervous about customer demand, two sources familiar with the matter said. The instruction by TSMC, which is grappling with delays at its …
Exclusive-TSMC tells vendors to delay chip equipment deliveries -sources Read More »
By Satawasin Staporncharnchai BANGKOK (Reuters) -Thailand will set a new daily minimum wage by the year’s end, its labour minister said on Friday, but it would not be 400 baht ($11.19) as previously stated. The raising of the daily minimum wage, a key plank of the ruling Pheu Thai party’s election platform, has rattled businesses …
Thailand minimum wage hike to be announced by year-end – minister Read More »
By Neil Jerome Morales and Mikhail Flores MANILA (Reuters) – The Philippine central bank on Friday revised down its current account deficit projections for 2023 and 2024 on challenging external conditions, with both exports and imports likely to contract this year. The Southeast Asian country’s current account balance for this year is now projected to …
Philippine central bank revises down 2023, 2024 c/a deficit forecasts Read More »
By Laura Matthews NEW YORK (Reuters) – Exchange operator Nasdaq on Thursday edged out the New York Stock Exchange on the measure of capital raised by traditional initial public offerings so far this year following the debut of chip designer Arm, according to Dealogic data. So far this year, 68 traditional U.S. IPOs on Nasdaq …
ARM lifts Nasdaq ahead of NYSE on IPO capital raises Read More »
By Manya Saini, Niket Nishant and Echo Wang (Reuters) -Shares in SoftBank’s Arm Holdings soared almost 25% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at $65 billion in its return to the public markets after seven years. The stock opened at $56.10 per American Depositary Share compared …
SoftBank’s Arm soars nearly 25% in market debut to $65 billion valuation Read More »
