Reuters Asia Business

BEIJING/HONG KONG (Reuters) -Missed payments on investment products by a leading Chinese trust firm and a fall in home prices have added to worries that China’s deepening property sector crisis is rapidly stifling what little momentum the economy has left. Zhongrong International Trust Co., which traditionally had sizable real estate exposure, missed payments on dozens …

China’s economic woes mount as trust firm misses payments, home prices fall Read More »

BEIJING (Reuters) – Boeing named Alvin Liu head of its China unit on Wednesday, picking a Chinese-born representative recently hired from the auto industry as the aircraft maker grapples with a drought in U.S. imports to the crucial aviation market. Both Boeing and Airbus SE now have top executives in China who were born in …

Boeing China appoints new president amid Sino-US tensions Read More »

BEIJING/SHANGHAI (Reuters) – Chinese battery giant CATL on Wednesday launched a fast charging lithium iron phosphate or LFP battery capable of running 400 km (248 miles) on a 10-minute charge. Mass production of the new battery called Shenxing is expected by the end of the year while electric vehicles equipped with Shenxing batteries will hit …

China’s CATL launches fast charging LFP battery, mass production expected by year-end Read More »

MANILA (Reuters) – The Philippine Department of Agriculture is recommending that private traders import an additional 500,000 metric tons of rice to cover possible crop losses caused by the El Nino dry weather phenomenon, a senior official said on Wednesday. The additional imports by one of the world’s biggest buyers of the grain must arrive …

Philippines looks to import more rice in case of El Nino losses Read More »

By Phuong Nguyen, Francesco Guarascio and Anshuman Daga HANOI/SINGAPORE (Reuters) -VinFast’s shares soared in thin trading in their Nasdaq debut on Tuesday following the Vietnamese electric vehicle maker’s $23 billion backdoor listing as the startup said it was likely to raise money from global investors within 18 months. The stock opened at $22, more than …

VinFast’s shares surge in Nasdaq debut for Vietnam EV maker Read More »

HONG KONG (Reuters) – China’s economic activity data for July, including retail sales, industrial output and investment failed to match expectations, fuelling concern over a deeper, longer-lasting slowdown in growth. THE DEMISE OF CHINA’S GROWTH HAS BEEN MISTAKENLY FORECAST BEFORE. IS THIS TIME DIFFERENT? Activity data has been missing forecasts since the beginning of the …

Explainer-How much worse can China’s economic slowdown get? Read More »

(Reuters) -Top U.S. solar panel maker First Solar on Tuesday said an audit of its manufacturing operations had uncovered unethical labor practices at its Malaysia factory, sending the company’s shares down about 5%. The revelation is the latest to tie the fast-growing solar energy industry to concerns about forced labor. First Solar has largely evaded …

First Solar audit reveals forced labor at Malaysia factory Read More »

By Mrinmay Dey and Akash Sriram (Reuters) -Tesla on Monday launched cheaper variants of its Model S sedan and Model X SUV with shorter driving ranges in the U.S., looking to increase sales as high borrowing costs hamper demand for expensive electric vehicles. Tesla shares were down 2.6% on Tuesday, while rivals also lost ground …

Tesla launches cheaper Model S, X versions in US with shorter ranges Read More »

(Reuters) – Canada’s corporate ethics watchdog said on Tuesday it was investigating Ralph Lauren’s Canada unit to probe allegations the apparel retailer’s supply chain and operations in China used or benefited from the use of Uyghur forced labor. The Canadian Ombudsperson for Responsible Enterprise (CORE) said it had published an initial assessment report after complaints …

Canada’s corporate watchdog probes Ralph Lauren on alleged use of forced labor in China Read More »