Reuters Asia Business

By Kevin Yao TIANJIN, China (Reuters) -Chinese Premier Li Qiang on Tuesday said China will take steps to boost demand, invigorate markets, promote development while accelerating the green transition and opening “high level” parts of its economy to the outside world. Addressing a World Economic Forum summit in Tianjin, Li did not elaborate on China’s …

China will take steps to boost demand, accelerate green transition – Premier Li Read More »

By Mike Spector, Joseph White and Dietrich Knauth NEW YORK (Reuters) -Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after the U.S. electric truck manufacturer failed to resolve a dispute over a promised investment from Taiwan’s Foxconn. Shares of Lordstown tumbled 35.6% in trading before the bell. The automaker, …

Lordstown Motors files bankruptcy, sues Foxconn Read More »

(Reuters) -New World Development (NWD) is set to bag as much as HK$21.78 billion ($2.78 billion) from the sale of a construction subsidiary to its major shareholder, in a buyout deal that would help it cut debt and pay a special dividend. Chow Tai Fook Enterprises (CTFE), which holds about 45.2% of NWD shares, has …

New World Development set for windfall as unit gets $4.5 billion buyout offer Read More »

By Jörn Poltz (Reuters) – Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud by negligence in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a sentence. The ex-boss was fined 1.1 million euros …

Audi ex-boss becomes first VW board member sentenced over diesel scandal Read More »

By Leika Kihara TOKYO (Reuters) – The Bank of Japan (BOJ) is likely to move steadily towards phasing out its massive stimulus and may tweak yield curve control as early as October, said former central bank policymaker Makoto Sakurai. While the central bank is likely to revise up this fiscal year’s growth and inflation forecasts …

BOJ may tweak yield control policy in Oct – ex-board member Read More »

(Reuters) – Meta Platforms on Monday launched Meta Quest+, a subscription-based service for its virtual reality (VR) headsets to shape a nascent but high-investment market. Chief Executive Mark Zuckerberg, in a broadcast channel on social media app Instagram, said the Meta Quest+ subscription will be available from Monday at $7.99 per month, or $59.99 annually, …

Meta launches Quest+ subscription for VR headsets Read More »