Reuters Asia Business

By Rocky Swift TOKYO (Reuters) -Japan’s Astellas Pharma said on Monday it agreed to buy U.S. drugmaker Iveric Bio Inc for about $5.9 billion in its biggest acquisition, giving it access to a range of ophthalmology treatments. The deal marks the fifth major overseas acquisition by Astellas, Japan’s third biggest drugmaker by sales, since 2019 …

Japan’s Astellas to buy Iveric Bio for $5.9 billion to expand eyesight treatments Read More »

TOKYO (Reuters) – Sony Group Corp’s shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate’s annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by a robust performance at its music and microchip units. …

Sony shares tumble on weaker-than-expected annual outlook Read More »

By Wayne Cole SYDNEY (Reuters) – Australia’s Labor government is set to reveal a vast improvement in the budget bottom line next week as its coffers bulge with tax windfalls, yet the outlook will be a sober one as fiscal challenges loom large. Treasurer Jim Chalmers has spent weeks using “restraint” and “responsible” to describe …

Australia to reveal huge budget rebound, pledge restraint in response Read More »

BEIJING (Reuters) – Prices of new homes in 100 Chinese cities rose a touch in April in an extension of modest gains seen in March, a private survey showed on Monday, as government support measures stoked demand in large and midsize cities. New home prices in April edged up 0.02% from the previous month, the …

China new home prices up slightly in April, less cities post gains – survey Read More »

TOKYO (Reuters) – Alibaba Group founder Jack Ma has been invited to be a visiting professor at Tokyo College, a new organization run by the University of Tokyo, the university said on Monday. The appointment term for China’s best-known entrepreneur finishes at the end of October, but the contract is renewable on an annual basis, …

Alibaba founder Jack Ma takes up Tokyo University visiting professorship Read More »

By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) – Japan’s JERA, one of the world’s biggest buyers of liquefied natural gas (LNG), expects to divert more of its LNG trade volume to other Asian countries in the long run, as demand weakens at home, an official said. On Friday, JERA reached a fresh LNG purchase …

Japan’s JERA sees more LNG going to Asia as domestic demand shrinks Read More »

By Ellen Zhang and Ryan Woo BEIJING (Reuters) -China’s manufacturing activity unexpectedly shrank in April, official data showed on Sunday, raising pressure on policymakers seeking to boost an economy struggling for a post-COVID lift-off amid subdued global demand and persistent property weakness. The official manufacturing purchasing managers’ index (PMI) declined to 49.2 from 51.9 in …

China factory activity unexpectedly cools in April Read More »

BEIJING (Reuters) – China’s non-manufacturing activity expanded at a slower pace in April, official data showed on Sunday, a discouraging sign for policymakers counting on services consumption to offset frailty in the factory sector amid slack global demand. The official non-manufacturing purchasing managers’ index (PMI) stood at 56.4 versus 58.2 in March, according to data …

China non-manufacturing activity expands more slowly in April – official PMI Read More »

FRANKFURT (Reuters) – Cutting economic ties with China is unrealistic, the chief executive of luxury carmaker Mercedes-Benz told tabloid newspaper Bild am Sonntag, and said attempting to do so would put most of Germany’s industry at risk. Europe is trying to reduce its dependency on China as the disruption of the pandemic and the Ukraine …

Cutting ties with China is ‘unthinkable’, Mercedes-Benz CEO tells BamS Read More »