Reuters Asia Business

Nissan will not fill COO position left open by Gupta’s departure

28 Jun 2023

TOKYO (Reuters) – Nissan Motor Co has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday. Responsibilities previously carried out by the operations chief will be taken over by other executives, it said. Hideyuki Sakamoto, executive vice president in …

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South Korea consumer sentiment extends gains, inflation expectations flat

27 Jun 2023

SEOUL (Reuters) – Consumer sentiment in South Korea ticked further up in June to the highest in just over a year, while inflation expectations remained unchanged, a central bank survey showed on Wednesday. The Consumer Sentiment Index rose to 100.7 in June from 98.0 in May, the highest since May 2022, according to the Bank …

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Apple fails to end lawsuit over CEO Tim Cook’s China sales comment

27 Jun 2023

By Jonathan Stempel (Reuters) -A U.S. judge has rejected Apple’s bid to throw out a class-action lawsuit that accused Chief Executive Tim Cook of defrauding shareholders by concealing falling demand for iPhones in China. U.S. District Judge Yvonne Gonzalez Rogers’ decision late Monday night clears the way for shareholders led by a British pension fund …

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Bankrupt Three Arrows’ liquidators seek $1.3 billion from fund’s founders – source

27 Jun 2023

By Dietrich Knauth and Jaiveer Shekhawat (Reuters) – Liquidators at bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) are seeking to recover $1.3 billion from the co-founders, a person familiar with the matter told Reuters on Tuesday, an amount that reflects losses they allegedly racked up before the firm collapsed last year. The liquidators discussed …

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Pakistan hopes for bailout decision in day or two as IMF seeks deal ‘quickly’

27 Jun 2023

ISLAMABAD (Reuters) -Pakistan hopes a bailout decision from the International Monetary Fund (IMF) will come in a day or two, its prime minister said on Tuesday, as the global lender said it was holding talks with the aim of “quickly reaching an agreement”. Islamabad has been waiting for a deal after taking policy and fiscal …

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Nissan board gains shareholder backing, must tackle surveillance claims

27 Jun 2023

By Maki Shiraki and Daniel Leussink TOKYO (Reuters) -Nissan shareholders re-elected its chief executive and other board nominees on Tuesday at an annual meeting that came days after revelations of a split among senior management and allegations of corporate surveillance. The Japanese automaker is investigating accusations that CEO Makoto Uchida carried out surveillance of his …

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PE firm Creador to buy 40% stake in Malaysia’s Pet World International

27 Jun 2023

(Reuters) -Private equity firm Creador on Tuesday said it bought a 40% stake in Malaysia’s Pet World International, months after Reuters reported the pet foods manufacturer was planning an initial public offering (IPO) in Singapore to raise up to $100 million. Reuters in February reported Pet World, which owns brands like ProDiet cat food and …

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Malaysia central bank to intervene in FX markets as ringgit losses ‘excessive’

27 Jun 2023

KUALA LUMPUR (Reuters) – Malaysia’s central bank said on Tuesday it will intervene in the foreign exchange market to stabilise the ringgit currency, citing what it called “excessive” recent losses. The ringgit is trading near a seven-month low and has lost close to 6% of its value against the U.S. dollar this year, declining more …

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