Reuters Asia Business

NEW YORK (Reuters) -A U.S. judge on Wednesday said he was ready to approve Rio Tinto’s agreement to pay $138.75 million to settle a lawsuit that accused the Anglo-Australian mining giant of defrauding investors by concealing problems with its $7 billion underground expansion of the Oyu Tolgoi copper and gold mine in Mongolia. Rio Tinto had …

US judge set to approve Rio Tinto’s $138.75 million Mongolia mine settlement Read More »

By Giuseppe Fonte and Elisa Anzolin ROME (Reuters) – Italy plans to apply an extra levy on Chinese fast fashion products to help shield its fashion industry from low-cost foreign imports, government sources told Reuters on Wednesday. The move is aimed at avoiding unfair competition in the market for what is one of Italy’s key …

Italy plans levy on Chinese fast fashion to protect local industry Read More »

HORSENS, Denmark (Reuters) -The European Union is looking into setting pre-conditions for Chinese companies investing in Europe, including transfers of technology and know-how, the EU trade chief and Denmark’s foreign minister said on Tuesday. EU ministers discussed the bloc’s economic security during a meeting hosted by Denmark, now holding the rotating presidency, ahead of a …

EU floats conditions such as tech transfers for China investments Read More »

(Reuters) -Nscale will deploy around 200,000 Nvidia AI chips under an expanded agreement with Microsoft across its data centers in Europe and the U.S., the British artificial intelligence group said on Wednesday. The Nvidia-backed company did not disclose the financial terms, but the Financial Times reported it could generate up to $14 billion in revenue …

UK’s Nscale to supply Microsoft with 200,000 Nvidia AI chips Read More »

By Yuka Obayashi TOKYO (Reuters) -Japan, Spain and South Korea issued a rare joint statement on Wednesday expressing deep concerns over tumbling copper treatment and refining charges (TC/RCs), warning both smelters and miners cannot develop sustainably under current conditions. Copper smelters worldwide are grappling with falling processing fees and shrinking margins amid tight concentrate supply …

Japan, Spain, South Korea warn over unsustainable copper processing fees Read More »

By Yena Park and Heejin Kim SEOUL (Reuters) -South Korea and the United States made “meaningful progress” in negotiations over $350 billion of investments in the U.S. that Seoul pledged in a deal reached in July to secure reduced U.S. trade tariffs, Korea’s top policy adviser said on Wednesday. In an interview with a YouTube …

South Korea, US make ‘meaningful progress’ in tariff talks, senior Seoul official says Read More »

By Xiuhao Chen and Joe Cash BEIJING (Reuters) -Apple’s Tim Cook pledged to boost the tech giant’s investment in China on Wednesday as it navigates the trade war between Beijing and Washington. Many U.S. companies have become cautious about relations with China as the world’s two biggest economies clash over tariffs and as U.S. President …

Braving Trump, Apple’s Tim Cook promises to boost China investment Read More »