Reuters Asia Business

By Jane Lanhee Lee OAKLAND, California, (Reuters) -Chip manufacturer GlobalFoundries Inc said on Wednesday it had filed a lawsuit against International Business Machines Corp, accusing it of unlawfully sharing confidential intellectual property and trade secrets. New York-based GlobalFoundries said in its complaint that IBM had shared IP and trade secrets with Rapidus, a new state-backed …

GlobalFoundries sues IBM, says trade secrets were unlawfully given to Japan’s Rapidus Read More »

SHANGHAI/BERLIN (Reuters) -German automakers have turned up in full force at Shanghai’s Auto Show as they fight to stay on top of consumer trends in the country that will define whether they maintain their market dominance in the electric age both at home and abroad. Their heavy presence – with the entire board of Volkswagen …

Analysis-German automakers fight to defend their turf from Chinese rivals Read More »

LONDON (Reuters) – Credit Suisse has lodged a $440 million claim against Japan’s SoftBank Group Corp in London as it presses ahead with formal proceedings in a dispute borne from the failure of Greensill Capital, a finance firm. The Swiss lender is trying to recover client funds that Greensill had lent to Katerra, a SoftBank-backed …

Credit Suisse lodges $440 million London claim against SoftBank Read More »

(Reuters) – Taiwan Semiconductor Manufacturing Co Ltd is pushing back on some of the conditions the United States has attached to chip-factory subsidies, as it seeks up to $15 billion from the U.S. government, the Wall Street Journal reported on Wednesday. TSMC, which in December more than tripled its planned investment at its new Arizona …

TSMC seeks up to $15 billion from US but objects to certain conditions- WSJ Read More »

SINGAPORE (Reuters) – Mitsubishi Power, a subsidiary of Japanese company Mitsubishi Heavy Industries, has started operations of a natural gas turbine at a gas-fired power plant project in Thailand’s Rayong province on March 31. This natural gas turbine is the fifth of its kind of a total of eight to be delivered under a full …

Mitsubishi Power starts natgas turbine operation in Rayong, Thailand Read More »

By Junko Fujita TOKYO (Reuters) -Japan’s Sumitomo Mitsui Financial Group (SMFG) sold $1 billion of additional tier-1 (AT1) debt on Wednesday, becoming the first major global bank to sell the risky securities since similar bonds issued by Credit Suisse were wiped out last month. The deal shows confidence in the banking sector of Asia’s second-largest …

Japan’s SMFG is first global bank to sell AT1 bonds since C.Suisse wipeout Read More »

AMSTERDAM (Reuters) – Dutch semiconductor equipment maker ASML Holding NV expects sales to mainland China to pick up for the remainder of 2023 following a dip in the first quarter, it said on Wednesday. The remarks by finance chief Roger Dassen come after the company reported better than expected first quarter results. ASML’s sales in …

ASML China sales dip in Q1 but seen stronger next nine months Read More »

By Philip Blenkinsop BRUSSELS (Reuters) -Heineken maintained its forecast for 2023 profit growth with the risk of slower economic expansion in the Asia-Pacific region offset by greater resilience among beer drinkers in Europe. The world’s second-largest brewer expects its operating profit this year to increase by a mid- to high- single-digit percentage. “We see signals …

Heineken sees Europe resilience offseting Asia slowdown risk Read More »