Reuters Asia Business

By Hyunjoo Jin SAN FRANCISCO (Reuters) – South Korea’s Samsung Display has filed a lawsuit against BOE Technology, accusing the Chinese rival of infringing five of its patents for displays used in mobile devices including Apple’s iPhone 12. Samsung Display, a unit of Samsung Electronics, asked a federal jury in Texas to award damages for …

Samsung sues Chinese rival over alleged patent violation on iPhone displays Read More »

By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – Japan’s top lenders aim to carve out a larger presence in U.S investment banking as they look to make better use of their massive balance sheets by winning a bigger slice of deals, executives say. For years Japan’s megabanks have been notable players in U.S. corporate …

Japan’s top lenders in fresh drive to win US investment banking deals Read More »

By Miho Uranaka OSAKA, Japan (Reuters) -The battery arm of Japan’s Panasonic will need to build four more factories to reach its target for a sharp boost in annual capacity of batteries for electric vehicles by 2031, its technology chief told Reuters. The comments by Shoichiro Watanabe of Panasonic Energy are the Tesla supplier’s first …

Panasonic needs four more EV battery plants, executive says Read More »

BEIJING (Reuters) – China’s factory activity growth slowed in June, a private sector survey showed on Monday, with sentiment waning and recruitment cooling as firms grew increasingly concerned about sluggish market conditions. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) eased to 50.5 in June from 50.9 in May, indicating a marginal expansion in activity. …

China’s June factory activity slows as conditions weaken – Caixin PMI Read More »

HONG KONG (Reuters) – Hong Kong’s May retail sales rose 18.4% from a year earlier thanks to the revival of inbound tourism and positive consumption sentiment, government data showed on Monday. Sales increased to HK$34.5 billion ($4.40 billion), marking a sixth consecutive month of growth. That compared with a revised 14.9% rise in April. In …

Hong Kong May retail sales rise 18.4%, sixth month of growth Read More »

TOKYO (Reuters) -Japan’s government raked in record tax income last fiscal year, the finance ministry said on Monday, which could help Prime Minister Fumio Kishida’s ruling party forego the politically unpopular tax hikes needed to boost defence spending. Government accounts showed Japan raised 71.1 trillion yen ($491.53 billion) in tax for the fiscal year that …

Japan’s tax income hits record, surplus will help fund defence plan Read More »

(Reuters) -UBS Group AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a backlash, the Financial Times reported on Sunday. UBS executives are hoping to announce that the bank will not call on the government backstop when it publishes its second-quarter results on Aug. 31, the report added. UBS declined …

UBS aims to avoid using $10 billion Credit Suisse backstop amid backlash -FT Read More »

By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka’s parliament approved a domestic debt restructuring plan on Saturday that is crucial to continue a $2.9 billion bailout from the International Monetary Fund (IMF). The plan passed with a majority of 122 votes in the 225-member parliament. Sri Lanka tumbled into its worst financial crisis in more than …

Sri Lanka parliament approves domestic debt restructuring plan Read More »