Reuters Asia Business Archives - Page 1661 of 2133

Dollar falls as markets consolidate gains; up vs yen ahead of inflation data

13 Feb 2023 13 Feb 2023

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell on Monday in choppy trading after last week’s strong rally, weighed down by firmer stocks and lower long-dated Treasury yields, as investors consolidated positions ahead of Tuesday’s crucial U.S. consumer price index (CPI) data. The greenback, however, rose to six-week highs against the rate-sensitive Japanese …

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China, U.S. to participate in first meeting of new debt roundtable on Feb. 17

13 Feb 2023 13 Feb 2023

By Andrea Shalal WASHINGTON (Reuters) – Officials from China, India, Saudi Arabia and Group of Seven wealthy nations will participate in a first virtual meeting of a new sovereign debt roundtable on Friday, three sources familiar with the plans said on Monday. The roundtable will also include officials from countries that have requested debt treatments …

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Shares rise, bond yields dip ahead of U.S. inflation data

13 Feb 2023 13 Feb 2023

By Sinéad Carew and Amanda Cooper NEW YORK/LONDON (Reuters) – Wall Street equity indexes were up 1% on Monday while U.S. Treasury yields fell from an almost six-week high as investors bet that key U.S. economic data due out on Tuesday would show inflation is easing. The U.S. Bureau of Labor Statistics is scheduled on …

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Oil edges higher as market weighs Russian supply cuts amid demand fears

13 Feb 2023 13 Feb 2023

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices edged higher on Monday, rebounding from early losses, as investors weighed Russia’s plans to cut crude production and short-term demand concerns ahead of U.S. inflation data this week. Brent futures for April delivery rose 22 cents, or 0.3%, to $86.61 a barrel, while U.S. crude rose 42 cents, …

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Ford to build battery plant in Michigan in drive with Chinese tech partner

13 Feb 2023 13 Feb 2023

By Joseph White and David Shepardson ROMULUS, Michigan/WASHINGTON (Reuters) – Ford Motor Co on Monday announced plans to invest $3.5 billion to build an electric vehicle battery plant in Michigan, betting that making the batteries in the United States will help it and Chinese partner CATL attract U.S. customers to embrace a lower-cost technology pioneered …

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Exclusive-Pakistan plans to quadruple domestic coal-fired power, move away from gas

13 Feb 2023 13 Feb 2023

By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming years, its energy minister told Reuters on Monday, as it seeks to ease a crippling foreign-exchange crisis. A shortage of natural gas, which accounts for …

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Freeport-McMoRan cuts forecast after floods damage Indonesia’s Grasberg mine

13 Feb 2023 13 Feb 2023

JAKARTA (Reuters) -Freeport-McMoRan Inc has cut its first-quarter copper sales forecast after heavy rains and landslides shuttered operations at its flagship Grasberg mine in Indonesia over the weekend, with the mine not expected to be back online until the end of the month. The temporary shutdown is the latest in a string of extreme weather-related …

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BlackRock cuts Japanese stocks to “underweight” on hawkish BOJ risks

13 Feb 2023 13 Feb 2023

(Reuters) – BlackRock Investment Institute cut Japanese stocks to “underweight” on Monday, saying that a Bank of Japan (BOJ) policy change away from its “ultra-loose” monetary strategy could push global yields higher and reduce risk appetite. Japanese inflation has reached four-decade highs on a weaker yen and higher energy prices, and “crucially, that’s now feeding …

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Beijing to support key firms in building ChatGPT-like AI models

13 Feb 2023 13 Feb 2023

BEIJING (Reuters) -China’s capital Beijing will support leading enterprises in building large artificial intelligence (AI) models that can challenge ChatGPT, the city’s economy and information technology bureau said on Monday. The city will support key firms to invest in building an open source framework and accelerate the supply of basic data, it said in a …

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Regulator watches as K-pop agencies battle for tie-up with SM Entertainment

13 Feb 2023 13 Feb 2023

By Hyunsu Yim and Joyce Lee SEOUL (Reuters) – K-pop agencies HYBE and Kakao, battling each other to tie up with rival SM Entertainment, are facing the new challenge of a possible review by the South Korean competition regulator should either succeed. Kakao’s agreement this month to acquire SM shares as a step towards forming …

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Reuters Asia Business﻿﻿

Reuters Asia Business