Reuters Asia Business

AI pioneer says its threat to world may be ‘more urgent’ than climate change

9 May 2023

By Martin Coulter LONDON (Reuters) – Artificial intelligence could pose a “more urgent” threat to humanity than climate change, AI pioneer Geoffrey Hinton told Reuters in an interview on Friday.  Geoffrey Hinton, widely known as one of the “godfathers of AI”, recently announced he had quit Alphabet after a decade at the firm, saying he …

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Exclusive-Bain Capital seeks to raise $4 billion for new global special situations fund – sources

8 May 2023

By Kane Wu and Anirban Sen HONG KONG/NEW YORK (Reuters) – Bain Capital is seeking to raise $4 billion for a new global “special situations fund” as the U.S. firm sees an opportunity to snap up distressed and equity investments, two people familiar with the matter said. Bain Capital kicked off the fundraising at the …

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Toyota suspends sales of Yaris model in Thailand after safety test problem

8 May 2023

By Chayut Setboonsarng and Daniel Leussink BANGKOK/TOKYO (Reuters) -Japanese carmaker Toyota Motor Corp has stopped sales and deliveries of its Yaris Ativ in Thailand, senior officials said on Monday, after its affiliate Daihatsu rigged part of the door in side-collision safety tests. The problem may have occurred due to pressure on Daihatsu to shorten the …

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China probes Capvision in national security warning to consulting firms

8 May 2023

HONG KONG (Reuters) -Chinese authorities have carried out an investigation into consulting firm Capvision Partners, state media CCTV reported on Monday, in a warning to other advisory firms as the country tightens its national security laws. Capvision, which runs the country’s largest expert network group and has offices in eight cities around the world including …

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Emerging markets draw net inflows in April; China sees outflows

8 May 2023

NEW YORK (Reuters) – Foreign investors funnelled nearly $10 billion into emerging market portfolios in April, with Asia taking the lion’s share despite net outflows from China, data from the Institute of International Finance shows. Net inflows have now extended to four consecutive months, the longest streak in over a year, although volumes are much …

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Taiwan April exports slip for 8th month, but beat forecasts

8 May 2023

By Roger Tung and Faith Hung TAIPEI (Reuters) – Taiwan’s exports exceeded analyst forecasts but still contracted for the eighth straight month in April, as demand for its tech products remained soft, especially from its biggest market China. Exports last month were down 13.3% by value from a year earlier at $35.96 billion, the Ministry …

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Berkshire Hathaway sells $58.9 million worth of shares in China’s BYD

8 May 2023

HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.96 million Hong Kong-listed shares of electric vehicle maker BYD for HK$462.09 million ($58.9 million), a stock exchange filing showed. The sale on May 2 lowered Berkshire’s holdings in BYD’s issued H-shares to 9.87% from 10.05%, the filing to the …

Berkshire Hathaway sells $58.9 million worth of shares in China’s BYD Read More »

Japan’s Marubeni sees 2023/24 profit down from last year’s record $4 billion

8 May 2023

By Katya Golubkova and Yuka Obayashi TOKYO (Reuters) -Japan’s Marubeni Corp expects its net profit to fall 23% in the current fiscal year to 420 billion yen ($3.1 billion), from a record posted in 2022/23, as lower commodity prices coupled with economic slowdown take a toll. Japanese trading house Marubeni posted a record 543 billion …

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