Reuters Asia Business

By Lawrence White and Selena Li LONDON/HONG KONG (Reuters) -HSBC Holdings raised its key profitability target and announced a fresh $2 billion share buyback on Tuesday, as rising central bank interest rates worldwide helped it more than double its income for the first half of the year. That helped the bank raise its near-term return …

HSBC rides rising rates to double its income, launches $2 billion share buyback Read More »

By Makiko Yamazaki TOKYO (Reuters) -Nomura Holdings Inc on Tuesday reported a jump in first-quarter net profit as a strong Japanese stock market helped the country’s biggest brokerage and investment bank attract money from global investors. Renewed investor interest in Japanese stocks, driven by hopes for an end to deflation and a corporate drive for …

Japan’s Nomura Q1 profit soars on strong domestic stock market Read More »

By Kevin Buckland and Ankur Banerjee SINGAPORE/TOKYO (Reuters) – Japan’s government bond market has turned into a cat-and-mouse arena for investors and the Bank of Japan, as the latter tries to slow a rise in yields towards its new policy ceiling and hungry investors go a step ahead and snap up the bonds. The game …

Analysis-Hungry investors queue up as Japan’s BOJ lifts yields bit by bit Read More »

By Sarah Wu TAIPEI (Reuters) – Foxconn’s venture attempting to build a standardised electric vehicle platform is targeting India or Thailand for the production of a small battery-powered car under development, the unit’s chief executive said. The Taiwanese company’s EV platform unit Mobility in Harmony (MIH) would be willing to work with its parent or …

Exclusive-Foxconn EV venture targets India, Thailand for new small car Read More »

SEOUL (Reuters) – Most monetary policy board members of the South Korean central bank agreed at their review in July that they needed to keep the door open for further tightening, according to meeting minutes released on Tuesday. The board members cited uncertainty regarding inflation, a rise in household debt and volatility in foreign exchange …

Bank of Korea board members kept door open for further tightening – minutes Read More »

By Jody Godoy NEW YORK (Reuters) – Terraform Labs and its founder Do Kwon must face fraud allegations brought by the U.S. Securities and Exchange Commission, a federal judge in Manhattan ruled on Monday. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled crypto markets around the world last year. U.S. District Judge …

Terraform Labs must face US SEC fraud allegations, judge rules Read More »

(Reuters) -Apple’s main supplier, Foxconn Technology Group, is planning to invest close to $500 million to build two component factories in India, Bloomberg News reported on Monday, citing people familiar with the matter. These factories will be built in the southern state of Karnataka and at least one of them will produce Apple parts, including …

Apple supplier Foxconn plans $500 million component factories in India – Bloomberg News Read More »

BEIJING (Reuters) -China on Monday announced export controls on some drones and drone-related equipment, saying it wanted to safeguard “national security and interests” amid escalating tension with the United States over access to technology. The restrictions on equipment including some drone engines, lasers, communication equipment and anti-drone systems would take effect on Sept. 1, the …

China curbs exports of drone equipment amid U.S. tech tension Read More »

MILAN (Reuters) – Pirelli investors on Monday approved a new board for the tyremaker, giving it a new three-year governance set-up after the Italian government last month took steps to curb the influence of the company’s leading Chinese investor. Andrea Casaluci, previously General Manager Operations, has been promoted to CEO, Pirelli said in a statement. …

Pirelli gets new board after battle over Chinese influence Read More »

By Summer Zhen (Reuters) – Chinese property developer Country Garden Holdings will raise $300 million in a primary placement in an attempt to repay its debts, a term sheet seen by Reuters showed on Monday. The placement consists of 1,800 million company shares at a fixed price of HK$1.30 per share, representing a 17.7% discount …

China developer Country Garden to raise $300 million – term sheet Read More »