Reuters Asia Business

(Reuters) -BofA Global Research and other banks raised their forecast for China’s 2023 gross domestic product (GDP) growth this week, after first-quarter economic growth data came in stronger than expected. BofA now expects China’s economy to grow 6.3% this year from 5.5% earlier, after climbing 4.5% in the first-quarter as policymakers moved to bolster growth …

BofA joins others in raising China’s 2023 GDP growth forecast after strong Q1 Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) – ValueAct Capital is pushing to oust Seven & i Holdings President Ryuichi Isaka, saying he is responsible for a “flawed strategy” and stating publicly for the first time that he is one of four directors it wants to replace at next month’s annual meeting. The San Francisco-based investment …

ValueAct urges ouster of Seven & i President Isaka – letter Read More »

DETROIT (Reuters) – Facing a booming and hyper-competitive market for electric vehicles (EVs) in China, Ford Motor Co needs to reshape its brand for the world’s largest car market, Chief Executive Jim Farley said. “We’re going to have to rethink what the Ford brand means in a place like China,” Farley told reporters on Thursday …

Ford must rethink its brand for China as EVs boom, CEO says Read More »

By Doyinsola Oladipo (Reuters) -The California attorney general and 17 others on Thursday asked a federal regulator to recall Hyundai and Kia vehicles, saying they are more likely to be stolen because they lack safety features that are standard in other cars. Hyundai Motor and Kia Corp vehicles represent a large share of stolen cars …

California, other states seek recall of Hyundai, Kia vehicles over theft Read More »

SEOUL (Reuters) – South Korea’s producer inflation slowed in March to the weakest level in 25 months, central bank data showed on Friday, led by agricultural and petroleum products. The producer price index stood 3.3% higher in March than a year before, compared with 4.8% in February, according to the Bank of Korea. It was …

South Korea March producer inflation eases to weakest in 25 months Read More »

SAO PAULO/BRASILIA (Reuters) -Brazil’s finance minister said on Thursday the country would implement a “digital tax” on shipments from e-commerce giants, after backtracking earlier this week from a decision to tax individual-to-individual shipments of up to $50. “We will follow the example of developed nations, a digital tax,” Finance Minister Fernando Haddad told reporters. “Consumers …

Brazil plans ‘digital tax’ on shipments from e-commerce giants -minister Read More »

By Trixie Yap and Andrew Hayley SINGAPORE (Reuters) – China may cut quotas for refined oil products exports in a second batch for 2023 as domestic demand improves while the need to boost its economy through oil products abates, a Reuters survey showed. A reduction in oil products exports from the world’s second-largest refiner could …

China may cut oil products export quotas in second batch for 2023 Read More »