Reuters Asia Business

BEIJING (Reuters) – China’s new yuan loans are expected to rebound in August after tumbling in July to the lowest since late 2009, a Reuters poll showed, as the central bank seeks to shore up economic growth amid soft demand both at home and abroad. Chinese banks are estimated to have issued 1.20 trillion yuan …

China’s Aug new yuan loans seen rebounding on policy support – Reuters poll Read More »

By Tom Hals WILMINGTON, Del. (Reuters) -The Philippines’ largest casino, owned by an affiliate of Japan’s Universal Entertainment Corp, does not have to complete a SPAC merger deal with 26 Capital Acquisition Corp <ADER.O> of the U.S., a Delaware judge ruled on Thursday. Vice Chancellor Travis Laster said the affiliate that owned Okada Manila did …

US judge won’t order Philippine casino merger to close Read More »

By Aditya Soni (Reuters) -Beijing’s widening curbs on iPhone use by government staff raised concerns among U.S. lawmakers on Thursday and fanned fears that American tech companies heavily exposed to China could take a hit from rising tensions between the countries. Apple fell more than 3% and was on track for its worst two-day decline …

China’s widening iPhone curbs roil US technology sector Read More »

By Anna Tong (Reuters) – OpenAI’s ChatGPT, the wildly popular artificial intelligence chatbot launched in November, saw monthly website visits decline for the third month in a row in August, though there are signs the decline is coming to an end, according to analytics firm Similarweb. Worldwide desktop and mobile website visits to the ChatGPT …

Exclusive-ChatGPT traffic slips again for third month in a row Read More »

SYDNEY (Reuters) – Australian billionaire Mike Cannon-Brookes on Thursday stood by the economics of a plan to ship energy from a giant solar farm in the country’s north to Singapore via undersea cable as he took possession of the A$20 billion ($12.73 billion) project. Cannon-Brookes, the co-founder of tech firm Atlassian turned environmental activist, said …

Australian billionaire Cannon-Brookes says $13 billion Singapore solar project is viable Read More »

(Reuters) – Founders behind defunct self-driving startup backed by Ford and Volkswagen launched a new autonomous trucking firm, Stack AV, on Thursday with investment from Japan’s SoftBank Group. SoftBank declined to disclose its investment in response to a Reuters inquiry, but Bloomberg News said it will provide more than $1 billion, citing an economic development …

SoftBank backs new autonomous trucking startup from founders of defunct Argo AI Read More »

BEIJING (Reuters) – Dongfeng Motor plans to recall 1.19 million cars from Dec 30, China’s market regulator said on Thursday. The planned recall has been filed with the State Administration for Market Regulation and involves some brands under Dongfeng’s joint venture with Nissan Motors produced between July 23, 2018 and Sept 26, 2021, the regulator …

China’s Dongfeng Motor plans to recall 1.19 million cars from Dec 30 Read More »

By David Lawder and Philip Blenkinsop WASHINGTON (Reuters) – U.S.-European Union talks to create a ‘green steel’ trade deal that boxes out China have hit a wall as an Oct. 31 deadline looms that could bring back tariffs on billions of dollars of transatlantic trade, sources familiar with the negotiations on both sides of the …

Exclusive-EU, US ‘green steel’ plan to box out China stalls ahead of October deadline Read More »

BEIJING (Reuters) -Five of China’s major state banks said on Thursday they will start to lower interest rates on existing mortgages for first-home loans, part of a series of support measures announced by Beijing in recent weeks. Chinese regulators announced the policy last week to help homebuyers amid growing concern over the health of the …

China’s major banks to lower rates on existing first-home mortgages Read More »