BRUSSELS (Reuters) -The European Union said on Thursday it had launched an investigation into whether biodiesel from Indonesia was circumventing EU duties by going through China and Britain. The EU is Indonesia’s third-largest destination for palm oil products and an important market for its biodiesel, which is made from palm oil. Indonesia is the world’s …
EU starts probe on Indonesian biodiesel avoiding import duties Read More »
By David Lawder WASHINGTON (Reuters) – The U.S. Commerce Department on Thursday said it will impose preliminary anti-dumping duties on tin-plated steel imports from Canada, Germany and China, sparing five other countries in a decision that drew some relief from food can manufacturers that had feared higher tariffs. The department said the highest preliminary anti-dumping …
US to impose tariffs on tin mill steel from Canada, China, Germany Read More »
By Jason Xue and Clare Jim SHANGHAI/HONG KONG (Reuters) -A major Chinese asset manager has told its investors it needs to restructure its debt, stoking fears that a chain of defaults could spread through the financial sector and deliver a destabilising shock to the country’s weakened economy. Zhongzhi Enterprise Group, which raises money from …
Chinese asset manager signals debt overhaul, stokes contagion fears Read More »
By Laurie Chen and Yew Lun Tian BEIJING (Reuters) – With China at risk of tipping into prolonged stagnation and a spiralling property crisis threatening financial stability, there is growing unease over why its leaders are not rushing to revive the world’s second-largest economy. Even in a country known for opaque and drawn-out decision making, …
Analysis: Why is China not rushing to fix its ailing economy? Read More »
SHANGHAI (Reuters) -China’s major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan’s depreciation. Though they also trade on their own behalf or to execute clients’ orders, …
Exclusive-China’s state banks seen selling dollars for yuan in London and New York hours Read More »
By Neil Jerome Morales and Enrico Dela Cruz MANILA (Reuters) -The Philippine central bank left its benchmark interest rate steady at 6.25% for a third straight meeting on Thursday, saying it needed to balance the need to support economic growth while keeping inflation in check. While inflation risks were tilted to the upside, Bangko Sentral …
Philippines central bank keeps rates steady, but ready to resume hikes if needed Read More »
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s exports fell in July for the first time in nearly 2-1/2 years, dragged down by faltering demand for light oil and chip-making equipment, underlining concerns about a global recession as demand in key markets such as China weaken. Japanese exports fell 0.3% in July year-on-year, Ministry of Finance (MOF) …
Japan exports fall for first time since 2021, stoking concerns about economy Read More »
By Josh Ye HONG KONG (Reuters) -China’s Lenovo Group on Thursday posted a worse-than-expected 24% fall in revenue for the April-June quarter, hit by a prolonged slump in global demand for personal computers. The world’s largest PC maker has now suffered four consecutive quarters of sales declines. The result comes after it reported a 14% …
Lenovo Q1 revenue misses forecasts, hit by poor PC demand Read More »
By Helen Reid LONDON (Reuters) -H&M is investigating 20 alleged instances of labour abuse at Myanmar garment factories that supply the world’s second-largest fashion retailer, it told Reuters, just weeks after top rival Zara-owner Inditex said it was phasing out purchases from the Southeast Asian country. A British-based human rights advocacy group tracked 156 cases …
H&M probes alleged Myanmar factory abuses as pressure intensifies Read More »
By Michael Martina and David Shepardson WASHINGTON (Reuters) – Close to half of American adults support a ban on the Chinese-owned social media app TikTok, according to a new Reuters/Ipsos survey that also asked questions about national security concerns and China. TikTok, owned by Chinese tech giant ByteDance and used by tens of millions of …
Close to half of Americans favor TikTok ban -Reuters/Ipsos poll Read More »
