By Yelin Mo, Max A. Cherney and Stephen Nellis (Reuters) -The upcoming listing of semiconductor technology firm Arm Holdings Ltd is supposed to be strong medicine for what has been ailing the U.S. IPO market, as well as provide a shot in the arm for Arm owner Softbank Group Corp. There is one complication, however. …
BEIJING (Reuters) – China should adhere to the principle that “houses are for living in, not for speculation” for the time being, the state-run Economic Daily said in an editorial on Wednesday, amid an economically damaging downturn in the property sector. China’s top leaders started using the phrase in late 2016, when they began introducing …
China should stick to ‘houses are for living, not for speculation’ – state media Read More »
SEOUL (Reuters) – South Korean manufacturers’ business sentiment for September weakened to the lowest level in five months on growing worries about weak exports, a central bank survey showed on Wednesday. The business outlook index for the manufacturing sector fell to 67 for September from 71 in August on a seasonally adjusted basis, according to …
S. Korean manufacturers’ business sentiment weakens to 5-month low for Sept Read More »
By Jonathan Stempel (Reuters) -Nomura Holdings agreed to pay a $35 million fine and enter a non-prosecution agreement to resolve a decade-long U.S. Department of Justice criminal fraud probe into traders accused of lying to customers about bond prices in order to boost profit. Traders at Nomura Securities International, mainly in New York City, were …
US fines Nomura $35 million over traders’ lies about bond prices Read More »
(Reuters) – VinFast’s shares more than doubled on Tuesday to the highest since Vietnamese electric vehicle maker’s blowout Wall Street debut after Reuters reported that South Korea’s Star Group Industrial plans to open factory in Vietnam. In the latest volatile session since its backdoor listing last week, VinFast’s stock was last up 127% at $40.24, …
VinFast shares more than double to highest since market debut Read More »
By David Shepardson WASHINGTON (Reuters) – U.S. Commerce Secretary Gina Raimondo will travel to China next week for meetings with senior Chinese government officials and U.S. business leaders, the latest in a recent series of high-level visits, the department said on Tuesday. Last month, Raimondo vowed to go forward with the visit despite the reported Chinese …
US commerce secretary to visit China next week for talks Read More »
By Akash Sriram and Brenda Goh (Reuters) -China’s Baidu Inc beat second-quarter revenue estimates on Tuesday, helped by a post-pandemic recovery in advertising spending, and said it would further intensify its efforts on generative artificial intelligence (AI). Businesses have revived spending on digital advertising after easing of COVID-19 restrictions spurred an economic recovery, benefiting the …
China’s Baidu beats quarterly revenue estimates, cheers generative AI progress Read More »
By Laurie Chen BEIJING (Reuters) – The head of an influential European business lobby in China said Beijing needs to send a clear message on how it plans to revive its economy and provide clarity on a national security crackdown that is unnerving the foreign business community. The world’s second-largest economy grew at a frail …
China urgently needs to address economic uncertainty – EU business group chief Read More »
By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan’s rupee fell to a record low in the interbank market on Tuesday due to an easing in import restrictions that has lifted demand for the dollar. Pakistan imposed import restrictions from 2022 to stem outflows from its shrinking foreign reserves. The removal of those restrictions beginning in June …
Pakistan rupee drops to record low as import restrictions ease Read More »
TAIPEI (Reuters) – Taiwan’s top financial regulator has no plan to impose strengthened risk control rules for Taiwan banks and insurers exposed to the Chinese real estate market due to high loan loss provisions, two sources briefed on the matter said on Tuesday. China has been battling to contain a worsening property sector crisis, including …
Taiwan not planning new risk control for China property exposure – sources Read More »
