BEIJING/SHANGHAI (Reuters) – Mitsubishi Motors’ joint venture with China’s Guangzhou Automobile Group (GAC) on Thursday said it would cut staff costs in an attempt to turn the company around after sharp sales declines for sport utility vehicles (SUV) like the Outlander. In a statement issued by GAC, the state-owned automaker said it would look to …
Mitsubishi’s China JV to cut staff costs after SUV sales dive Read More »
By Joe Cash and Ellen Zhang BEIJING (Reuters) -China’s exports fell last month at their fastest pace since the onset three years ago of the COVID-19 pandemic, as an ailing global economy puts mounting pressure on Chinese policymakers for fresh stimulus measures. Momentum in China’s post-COVID recovery has slowed after a brisk pickup in the …
China’s exports fall most in three years as global economy falters Read More »
By Rocky Swift TOKYO (Reuters) -The Japanese operator of apparel retailer Uniqlo reported record third-quarter profit on Thursday and raised its full-year forecast as its business in China continued to recover from a pandemic slowdown. Fast Retailing, known for its fleece jackets and inexpensive basics, has 925 Uniqlo outlets in mainland China – more than …
Uniqlo owner posts record Q3 profit, raises forecast on China recovery Read More »
BEIJING (Reuters) – China on Thursday renewed its call for the United States to lift “unilateral” sanctions against Chinese enterprises on Thursday, ahead of a possible visit by the U.S. Commerce Secretary Gina Raimondo. The U.S. has imposed sanctions on Chinese companies involved in using what the U.S. calls forced labour in the far-western region …
China renews call for US to lift sanctions; ‘open’ to Raimondo visit Read More »
By Melanie Burton and Mai Nguyen MELBOURNE (Reuters) – Prices for rare earths sank to their lowest since late 2020 this week as soft demand from green energy companies and the automotive sector combined with rising supply from top producer China, analysts said on Thursday. Concerns have grown that China could further restrict exports of …
Rare earths prices sink to lowest since 2020 as China ramps up supply Read More »
By Kanishka Singh and Anna Tong WASHINGTON (Reuters) -Billionaire Elon Musk said on Wednesday he thinks China is interested in a cooperative international framework on artificial intelligence, from conversations he had when he visited a few weeks ago. Musk made the remarks in a Twitter Space event with two U.S. congressmen, Democrat Ro Khanna and …
Elon Musk thinks China is interested in an international AI framework Read More »
By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s top currency diplomat Masato Kanda said on Thursday authorities were watching currency market moves carefully, in the wake of the yen’s rebound from recent weakness. “There is a view (in the market) that speculative yen short positions are being unwound rapidly,” Kanda told reporters. Kanda, who oversees Japan’s …
Japan’s top FX diplomat Kanda says watching yen moves carefully Read More »
SEOUL (Reuters) – South Korea’s import prices fell in annual terms for a fifth month in June and marked the steepest drop in more than eight years, central bank data showed on Thursday, an indication of easing inflationary pressure. The import price index was 15.7% lower than the same month the year before, after a …
South Korea’s import price decline in June steepest in 8 years Read More »
By Asif Shahzad ISLAMABAD (Reuters) -The International Monetary Fund’s board approved a $3 billion bailout programme for Pakistan which will immediately disburse about $1.2 billion to help stabilise the South Asian ailing economy, the lender said on Wednesday. Pakistan and the Fund reached a staff level agreement last month, securing a short-term pact, which got …
IMF approves $3 billion bailout for cash-starved Pakistan Read More »
By Josh Ye HONG KONG (Reuters) – China has joined the global rush to generative artificial intelligence, boasting close to 80 AI models from firms like Baidu and Alibaba and startups attracting almost $14 billion of funding over the last six months. But unlike in the West, where OpenAI’s ChatGPT has attracted more than 100 …
Analysis-China’s slow AI roll-out points to its tech sector’s new regulatory reality Read More »
