By Anirban Sen and Echo Wang NEW YORK (Reuters) -SoftBank Group Corp’s chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, Arm said on Saturday, setting the stage for this year’s largest initial public offering. The IPO registration shows that Softbank is pressing ahead with the blockbuster offering despite …
SoftBank’s Arm registers for blockbuster U.S. IPO Read More »
FRANKFURT (Reuters) – Chinese electric vehicle maker Nio aims to grab market share from Volkswagen by introducing a model for the European market that will be sold for less than 30,000 euros ($33,060), the company’s chairman told a German magazine. “Yes, in terms of price that means we are also attacking Volkswagen more strongly than …
Nio plans budget European EV for under 30,000 euros – Der Spiegel Read More »
BEIJING (Reuters) – Chinese ride hailing giant Didi Global on Saturday reported a 19% year-on-year fall in 2022 revenue, as the country’s COVID lockdowns and a regulatory crackdown took a toll. In its first annual report since it delisted from the U.S. last year, Didi said its total revenue fell to 140.79 billion yuan ($20.37 …
China’s Didi sees 2022 revenue hit by COVID, net loss narrows Read More »
By Bernadette Christina and Fransiska Nangoy JAKARTA (Reuters) -Indonesia will allow miners Freeport Indonesia and Amman Mineral Nusa Tenggara to continue exporting copper concentrate until next year, despite a ban starting this June, to allow for their smelters to be completed, the mining minister said on Friday. The government is due to ban exports of …
Indonesia to allow Freeport, Amman Mineral to ship copper concentrate until 2024 Read More »
By Ann Saphir, Hannah Lang and Chris Prentice (Reuters) – U.S. regulators on Friday put large banks on notice that tougher oversight is coming, after the Federal Reserve and Federal Deposit Insurance Corporation detailed their supervisory lapses before deposit runs caused the collapse of Silicon Valley Bank and Signature Bank in March. Though the banking …
US regulators vow to sharpen oversight as SVB, Signature aftershocks reverberate Read More »
(Reuters) – Twitter Inc CEO Elon Musk said on Friday that the social media platform will take a 10% cut on content subscriptions after the first year, as the company looks to monetize content on the website in a bid to diversify its revenue sources. Earlier this month, billionaire owner Musk said users of the …
Twitter to take 10% cut on content subscriptions after 12 months Read More »
By Doina Chiacu WASHINGTON (Reuters) -Canadian Prime Minister Justin Trudeau on Friday linked the production of lithium in China to “slave labor” as he discussed his own country’s efforts to ramp up production of the metal used in electric vehicle and other batteries. Canada has significant sources of lithium, Trudeau said, but China has made …
Trudeau points to ‘slave labor’ in China lithium production Read More »
By Chibuike Oguh and Bansari Mayur Kamdar NEW YORK (Reuters) – The U.S.-listed shares of small and micro-cap Chinese firms soared on Friday, reminiscent of meme-like rallies last summer that were underpinned by strong demand from retail investors. So-called meme rallies are unusual share price gains, driven by social media sites patronized by individual traders. …
Chinese small-cap stocks surge in meme-like rally Read More »
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) kept ultra-low interest rates on Friday but announced a plan to review its past monetary policy, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. While maintaining its commitment to “patiently” maintain ultra-loose policy, the central bank …
BOJ’s new chief keeps ultra-low rates, embarks on policy review Read More »
TOKYO (Reuters) – Sony Group Corp on Friday said PlayStation 5 sales will jump by six million units this business year, but forecast its profit will slip from a record high as weaker financial services sales offsets gains from gaming, music and movies. The Japanese company said it expects operating profit in the year to …
Sony expects profit to slip despite record PlayStation 5 sales Read More »
