Reuters Asia Business

By Makiko Yamazaki TOKYO (Reuters) – New Japanese guidelines to promote more mergers and acquisitions and remove a long-held stigma around unsolicited bids will be a boon for the world’s top maker of electric motors, Nidec, its chief executive said. Shigenobu Nagamori, the bluntly spoken founder who built Nidec into a global powerhouse by scores …

Nidec’s acquisitive CEO hails new Japan rules aimed at making takeovers easier Read More »

SEOUL (Reuters) – South Korea’s producer prices fell in June on an annual basis for the first time in 31 months, central bank data showed on Friday, dragged down by petroleum and agricultural products. The producer price index was 0.2% lower in June than the same month the year before, after a rise of 0.5% …

South Korea producer prices fall for first time in 31 months Read More »

WASHINGTON (Reuters) – U.S. Transportation Secretary Pete Buttigieg said on Thursday his agency has national security concerns about Chinese autonomous vehicle suppliers in the American market. “Whether we are talking about hardware or software, in the same way there are concerns around telecom or TikTok, there are concerns around transportation technologies,” Buttigieg said in an …

Chinese autonomous vehicle tech raises concerns, US transportation chief says Read More »

By Timothy Gardner and Patricia Zengerle WASHINGTON (Reuters) – The U.S. Senate overwhelmingly passed an amendment to an annual defense bill on Thursday that would ban exports to China of oil from the Strategic Petroleum Reserve. The tally was 85 to 14 in favor of the measure, beyond the 60 votes needed in the 100-member …

US Senate backs measure barring oil sales to China from SPR Read More »

By Christopher Bing and Raphael Satter WASHINGTON (Reuters) -A North Korean government-backed hacking group penetrated an American IT management company and used it as a springboard to target cryptocurrency companies, the firm and cybersecurity experts said on Thursday. The hackers broke into Louisville, Colorado-based JumpCloud in late June and used their access to the company’s …

North Korea hackers breached US IT company in bid to steal crypto Read More »

KARACHI, Pakistan (Reuters) – Pakistan is to proceed with the sale via tender of a contract to manage Islamabad airport after consultations with the International Finance Corporation (IFC), the Ministry of Finance said on Thursday. In March Pakistan had kicked off the outsourcing of operations at three major airports and the ministry said Islamabad airport …

Pakistan to sell contract to run Islamabad airport Read More »

LONDON (Reuters) – ABB warned on Thursday of slowing Chinese demand, Taiwanese chipmaker TSMC forecast a drop in 2023 sales and Electrolux cautioned shoppers are seeking cheaper appliances, deepening worries about global corporate and economic health. The news cast a pall over stocks as second-quarter earnings season ramps up. The S&P 500 and Nasdaq futures …

Tesla, ABB, TSMC get Q2 earnings off to downbeat start Read More »

By John Revill ZURICH (Reuters) – ABB is seeing some customers shifting investments from China to India and other parts of Asia due to geopolitical tensions, the industrial and engineering group’s Chief Executive Bjorn Rosengren said on Thursday. The maker of factory robots and automation systems reported a 9% drop in new orders from China …

ABB seeing some customers shift investments away from China Read More »