By David Shepardson (Reuters) -Kia said on Wednesday it will invest more than $200 million in its assembly plant in the U.S. state of Georgia to begin production of its electric EV9 SUV next year. The Korean automaker said the company will add about 200 jobs to build the three-row SUV alongside four other models …
Kia to invest $200 million in US plant, build EV9 SUV in 2024 Read More »
By Polina Devitt, Eric Onstad and Pratima Desai LONDON (Reuters) -Lawyers for Indian businessman Prateek Gupta rejected commodity trader Trafigura’s allegations of fraud, saying Trafigura employees proposed that Gupta substitute other materials for nickel, according to a court document filed on Wednesday. Geneva-based Trafigura filed a lawsuit against Gupta in February, alleging seven companies that …
Gupta says Trafigura employees proposed substituting nickel -court document Read More »
(Reuters) – The board of the International Monetary Fund (IMF) approved a $3 billion, nine-month bailout programme for Pakistan on Wednesday, the IMF said. Pakistan and the Fund had reached a staff level agreement late last month, securing much-needed funding for the cash-strapped country. (Reporting by Gibran Peshimam and Juby Babu; Editing by Raju Gopalakrishnan …
By Ismail Shakil and Divya Rajagopal OTTAWA (Reuters) – Canada’s corporate ethics watchdog launched separate investigations into Nike Canada and Dynasty Gold to probe allegations that they used or benefited from forced Uyghur labor in their supply chains and operations in China. The investigations were launched on Tuesday after an initial assessment of complaints about the …
Canada probes Nike, Dynasty Gold over alleged use of forced labor in China Read More »
By Xie Yu and Summer Zhen HONG KONG (Reuters) – Rather than spur a relief rally in China’s battered tech sector, the past week’s developments at Jack Ma-founded Ant Group have merely reminded global investors of the fickle nature of the country’s regulatory policies and the fragility of the sector. The initial market reaction when …
Analysis-Global investors relieved by China tech rebound, but not convinced yet Read More »
HONG KONG (Reuters) – Hong Kong’s environment and ecology department head said the city will ban seafood imports from 10 Japanese prefectures if Tokyo goes ahead with a plan to discharge treated radioactive water from the crippled Fukushima plant into the sea. Tse Chin-wan, Secretary for Environment and Ecology told reporters on Wednesday that a …
Hong Kong will ban seafood imports if Japan releases nuclear water Read More »
By Ariba Shahid KARACHI, Pakistan (Reuters) – The majority shareholders of an offshore holding company that owns most of Pakistani power company K-Electric said on Wednesday they have initiated legal proceedings to seek direct ownership of a stake in the utility. The power utility’s holding structure has widely been considered an impediment to its acquisition …
Exclusive-Majority owners of offshore holding seek direct stake in Pakistan’s K-Electric Read More »
By Joe Cash BEIJING (Reuters) – China’s export slump is expected to have accelerated in June, as sluggish overseas economies struggling with inflation and rising interest rates buy up fewer goods from Chinese factories. Outbound shipments from the world’s second-largest economy were projected to have fallen 9.5% year-on-year, following a drop of 7.5% in May, …
China’s export slide to steepen in June, imports seen down: Reuters poll Read More »
By Donny Kwok and Scott Murdoch HONG KONG (Reuters) – China’s major tech companies have shed more than $1 trillion in value -equivalent to the entire Dutch economy – since the government’s regulatory crackdown on the sector began more than two years ago, according to Refinitiv data. Investors are now hoping the strict rules that …
Beijing’s regulatory crackdown wipes $1.1 trln off Chinese Big Tech Read More »
By Miho Uranaka TOKYO (Reuters) – Japan’s second-biggest steelmaker JFE Holdings Inc sees usage of technology known as ‘Gigacasting’ as a risk to the company’s business as it could lead to reduction of steel usage, its President Koji Kakigi told reporters. Toyota Motor, the world’s top-selling automaker, became the latest car producer planning to adopt …
Japan steelmaker JFE says Tesla-pioneered tech poses ‘very big problem’ for it Read More »
