HONG KONG (Reuters) – Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 4.235 million Hong Kong-listed shares of electric vehicle maker BYD for HK$1.09 billion ($139 million), a stock exchange filing showed. The sale on February 3 lowered Berkshire’s holdings in BYD’s issued H-shares to 11.87% from 12.26%, the filing to the …
Berkshire Hathaway sells $138.9 million of shares in China’s BYD Read More »
By Anshuman Daga SINGAPORE (Reuters) – Southeast Asia’s top lenders are set to report their highest quarterly net interest margins in more than a decade on rising interest rates but as the cycle peaks and economic growth falters, profit growth will be curbed, analysts said. Singapore banks, among the most well capitalised in the world, …
Outlook grows cloudy for Singapore banks despite decade-high profit margins Read More »
By Daniel Leussink TOKYO (Reuters) – Japan’s Toyota Motor Corp posted a surprise 22% rise in third-quarter operating profit on Thursday, as a weaker yen and higher sales volumes helped the world’s top automaker overcome a jolt from the soaring costs of raw materials. Global car makers have been squeezed by both the semiconductor shortage …
Toyota’s Q3 profit jumps 22%, buoyed by weak yen and higher sales Read More »
JAKARTA (Reuters) – Indonesia and Malaysia, the world’s biggest palm oil producers, plan to send envoys to the European Union to discuss the impact of the bloc’s new deforestation law on their palm oil sectors, ministers from the Southeast Asian countries said on Thursday. The EU in December agreed on a deforestation law that requires …
Indonesia, Malaysia to send palm oil envoys to EU over deforestation law Read More »
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -Toshiba Corp on Thursday confirmed it had received a proposal from a consortium led by private equity firm Japan Industrial Partners, after sources said the investors had secured $10.6 billion in loan commitments for their buyout. Securing firm commitments from the banks was a major hurdle in …
Toshiba confirms JIP offer that sources say is backed by $10.6 billion in loans Read More »
(Reuters) – Japan’s top steelmaker Nippon Steel Corp on Thursday posted a 2% increase in April-December net profit to 517 billion yen ($4 billion) and said it would pay a record-high full-year dividend of 180 yen per share. Nippon Steel, which kept its full-year net profit forecast unchanged at 670 billion yen, paid an annual …
Japan’s Nippon Steel to pay record FY dividend on rising profit Read More »
By Hyunsu Yim SEOUL (Reuters) -South Korea’s anti-trust regulator said on Thursday it would impose a combined fine of 42.3 billion won ($33.48 million) on three German automakers for colluding to curb emissions-cleaning technology for their diesel cars. Mercedes-Benz, BMW, Volkswagen and Audi were involved in collusion that reduced competition and restricted consumer choice, the …
S. Korea fines German automakers for colluding to curb emissions-cleaning technology Read More »
By Choonsik Yoo and Yena Park SEOUL (Reuters) -South Korea’s plans to loosen restrictions in its currency market will raise the won’s status globally and boost business opportunities for local financial firms, a vice finance minister told Reuters on Thursday. The new measures, unveiled earlier this week, call for more than doubling the trading hours …
South Korea says new FX steps will boost won’s status, business for firms Read More »
By Himanshi Akhand (Reuters) – Bullish bets on most Asian currencies eased as strong U.S. economic data recently gave the dollar a fillip and raised bets that interest rates would remain higher for longer, a Reuters poll found on Thursday. Long positions on the South Korean won, the Singapore dollar and the Indonesian rupiah eased, …
Bullish bets on Asian FX ease as Fed rate-hike concerns weigh: Reuters poll Read More »
TOKYO (Reuters) – Japan’s Nissan Motor Co on Thursday posted a better-than-expected 155% jump in third-quarter operating profit, boosted by a weaker yen and cost management. Operating profit for the three months ended Dec. 31 came to 133.1 billion yen ($1.01 billion), beating the average 104.79 billion yen profit estimated by nine analysts, according to …
Nissan’s Q3 operating profit more than doubles, outstrips expectations Read More »
