Reuters Asia Business

(Reuters) – Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world’s second-largest economy from a pandemic slowdown. Following are comments from firms on their China business during the latest reporting season: Company China recovery comments Citigroup The lender called …

Factbox-What are global companies saying about China’s economy? Read More »

(Reuters) – Chinese short-video app TikTok is allowing users to create text-only posts, in the latest attempt by a social media firm to capitalize on the turmoil at Twitter since its buyout by Elon Musk last year. The move, announced on Monday, would allow TikTok users to choose from a variety of backgrounds for their …

TikTok launches text-only posts to rival Elon Musk’s Twitter Read More »

(Reuters) -Luxury eyewear maker EssilorLuxottica reported on Tuesday a rise in second-quarter revenue as growth in its European retail business and continued recovery in China helped to offset a slowdown in North America. The maker of Oakley and Ray-Ban sunglasses said total revenues for the quarter came in at 6.70 billion euros ($7.40 billion), up …

EssilorLuxottica’s Q2 sales rise on China recovery Read More »

By Mimosa Spencer PARIS (Reuters) -Sales at the world’s top luxury group LVMH rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The French company, whose 75 brands include fashion labels …

Sharp Chinese rebound powers LVMH sales growth in second quarter Read More »

By Stephen Nellis (Reuters) – NXP Semiconductors Chief Executive Officer Kurt Sievers said that China’s slumping smartphone market remains far from a rebound but that one major non-Android customer’s chip orders are still comparing well with historical trends. Netherlands-based NXP makes a near-field communications chip that goes into smartphones to help with mobile payments and …

NXP forecast hints Apple might keep bucking China smartphone slump Read More »

BEIJING (Reuters) – China has appointed Pan Gongsheng, known for being a firefighting technocrat, as new governor of the People’s Bank of China (PBOC), following his elevation to the central bank’s top political post this month. On Tuesday, state media confirmed Pan, who from 2016 headed up China’s top foreign exchange regulator, as the replacement …

China appoints Pan Gongsheng as new central bank governor – state media Read More »

By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s government on Tuesday left its own projections unchanged for achieving a primary budget surplus in the fiscal year ending in March 2027 – lagging by a year from its ambitious target, according to projections by the Cabinet Office. Under an optimistic scenario of nominal 3% and real 2% growth, …

Japan still seen missing target to balance primary budget by March 2026 Read More »

By Richa Naidu LONDON (Reuters) – British consumer goods giant Unilever said on Tuesday that China’s declining property market and exports had sent its consumer sentiment to a historic low, having earlier this year forecast a Chinese “consumption boom”. The maker of Dove soap and Ben & Jerry’s ice cream in February flagged $1.5-$2 trillion …

Unilever sees Chinese consumer confidence at ‘historical low point’ Read More »

JAKARTA (Reuters) -Indonesia’s central bank held its key policy rates steady for the sixth straight review on Tuesday, saying current levels are enough to ensure domestic inflation stays within target this year and on expectations global uncertainties will ease. Bank Indonesia (BI) kept the benchmark seven-day reverse repurchase rate at 5.75%, where it has been …

Indonesia central bank stays on hold, expects uncertainties to ease Read More »