By Ryan Woo and Ellen Zhang BEIJING (Reuters) -An unusually public claim by a Chinese professor the country’s youth jobless rate might have hit close to 50% in March has stoked a debate about official data and a soft labour market, despite curbs on negative portrayals of the economy. The National Bureau of Statistics said …
Chinese professor says youth jobless rate might have hit 46.5% Read More »
By Raphael Satter WASHINGTON (Reuters) – Microsoft Corp is expanding its suite of free security tools for customers, the software company said on Wednesday, following criticism that it was charging clients to protect themselves against Microsoft’s mistakes. The move follows a high-level hack that allowed allegedly Chinese spies to steal emails from senior U.S. officials …
Microsoft to offer some free security products after criticism Read More »
By Gleb Stolyarov and Alexander Marrow (Reuters) – The relaunch of a classic Soviet-era car, the Moskvich, by a state-owned company in November was celebrated by Moscow’s mayor as showing the resilience of Russia’s auto industry to Western sanctions. “This is a historic event,” Sergei Sobyanin said as the Moskvich was unveiled at a factory …
Made in Russia? Chinese cars drive a revival of Russia’s auto factories Read More »
By Tom Westbrook SYDNEY (Reuters) – Debts linked to China’s biggest commercial property firm Dalian Wanda Group took a further beating on Thursday as payment worries intensified and S&P Global cut its rating on Wanda’s services arm bonds for the second time this week. S&P said “non-payment risk” had risen as Dalian Wanda Commercial Management …
China’s Wanda Commercial bonds slump as S&P sees cash crunch Read More »
(Reuters) – Top BASF China executive Markus Kamieth is leading the race to succeed Martin Brudermueller as CEO of the German chemicals giant, the Financial Times reported on Thursday, citing people familiar with the matter. Kamieth oversees operations in Greater China, South and East Asia, ASEAN and Australia and New Zealand, according to BASF’s website. …
BASF China boss Kamieth leads race for new CEO, FT says Read More »
(Reuters) – Several global banks cut their 2023 economic growth forecasts for China this week after disappointing second-quarter numbers raised the risk of the economy missing the government’s 5% annual growth target, and underlined the need for more stimulus. Beijing faces a delicate task as it has to balance stimulus measures without fueling debt risks …
Factbox-Major banks slash China growth forecasts as weak data underlines policy needs Read More »
TOKYO (Reuters) -Japanese electric motor maker Nidec posted a 35% rise in first-quarter operating profit on Thursday, helped by a recovery in global automobile production volumes, and maintained its full-year forecast. The results come after the Kyoto-based manufacturer, which is betting big on components for electric vehicles, reported a rare quarterly loss in the previous …
Japan’s Nidec posts 35% rise in first-quarter operating profit Read More »
TAIPEI (Reuters) -Taiwanese chipmaker TSMC forecast a 10% drop in 2023 sales on Thursday after reporting a 23% fall in second-quarter earnings as global economic woes dented demand for chips used in applications as varied as cars, cellphones and servers. The world’s largest contract chipmaker estimated investment spending for this year at the lower end …
TSMC flags 10% fall in 2023 sales, spending at low end of forecast Read More »
TOKYO (Reuters) – Japan’s government should phase out blanket stimulus aimed at cushioning the blow from rising living costs, and shift to more targeted support to low-income households, private-sector members of a key government panel said on Thursday. The government is under pressure from politicians to extend a September deadline for subsidies aimed at curbing …
Japan should phase out broader stimulus as it tackles living costs – govt panel members Read More »
By Fanny Potkin SINGAPORE (Reuters) -Singapore-based Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of “chiplet” technology. The two-year old startup said in a statement that the 73,000-square metre factory would create over 1,000 jobs with support from Singapore’s Economic Development board. Silicon …
Marvell founders launch $2 billion chips foundry in Singapore Read More »
