Reuters Asia Business Archives - Page 1692 of 2133

Activist investor Elliott takes stake in Japan’s Dai Nippon Printing – source

24 Jan 2023 24 Jan 2023

(Reuters) -Activist investor Elliott Management Corp has built a stake in Japanese conglomerate Dai Nippon Printing Co Ltd, a source familiar with the matter told Reuters on Tuesday. The Financial Times (FT) newspaper, which first reported the news, said Elliott now holds a stake little below 5% worth $300 million, making it the conglomerate’s third-largest …

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Japan’s Nidec slashes full-year operating profit forecast on weak demand, reform costs

24 Jan 2023 24 Jan 2023

TOKYO (Reuters) -Japanese electric motor maker Nidec Corp slashed its full-year operating profit forecast by nearly half on Tuesday as it faced pressure from weakening demand for technology goods and a slower-than-expected recovery of the global car industry. The company cut its operating profit forecast for the financial year through March by 48% to 110 …

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India commits to help Sri Lanka on debt in prospective IMF program

23 Jan 2023 23 Jan 2023

(Reuters) -India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday. The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation …

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Former McDonald’s restaurants reopen without branding in Kazakhstan

23 Jan 2023 23 Jan 2023

ALMATY (Reuters) -Several restaurants which used to operate under the McDonald’s brand in Kazakhstan reopened on Monday with no branding to serve fast food under generic names such as “Cheeseburger”, weeks after the U.S. company left the local market. Former licensee Food Solutions KZ said in a statement it would maintain “the high quality and …

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Nokia signs new 5G patent deal with Samsung

23 Jan 2023 23 Jan 2023

OSLO (Reuters) – Nokia said on Monday it has signed a new cross-license patent agreement with Samsung following the expiry of a previous agreement at the end of 2022. “Under the agreement, which covers Nokia’s fundamental inventions in 5G and other technologies, Samsung will make payments to Nokia for a multi-year period beginning 1 January …

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Oil settles mixed after hitting 7-week high on strong China outlook

23 Jan 2023 23 Jan 2023

By Stephanie Kelly NEW YORK (Reuters) -Oil prices settled mixed on Monday, retreating as investors cashed in on a jump to a seven-week high on optimism about a possible recovery in demand of top oil importer China as the economy recovers this year from pandemic lockdowns. Brent crude settled 56 cents higher at $88.19 a …

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Hedge funds flock to Chinese stocks -data

23 Jan 2023 23 Jan 2023

By Carolina Mandl and Nell Mackenzie NEW YORK/LONDON (Reuters) – Hedge funds are increasingly placing more bets on Chinese equities as the country ends its tough zero-COVID policy, according to Goldman Sachs and JPMorgan reports obtained by Reuters and based on their clients’ exposure. Chinese stocks are recovering their popularity in global portfolios, with investors …

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Exclusive-Goldman Sachs to cut asset management investments that weighed on earnings

23 Jan 2023 23 Jan 2023

By Saeed Azhar NEW YORK (Reuters) -Goldman Sachs Group Inc’s asset management arm will significantly reduce the $59 billion of alternative investments that weighed on the bank’s earnings, an executive told Reuters. The Wall Street giant plans to divest its positions over the next few years and replace some of those funds on its balance …

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Italy’s Enel X partners with Toyota on electric mobility

23 Jan 2023 23 Jan 2023

ROME (Reuters) – Enel X Way, the e-mobility division of Italy’s biggest utility Enel, will make available its domestic and street charging services to Toyota and Lexus drivers, Enel and Toyota said in a joint statement on Monday. The new partnership “means that anyone driving an electric or plug-in hybrid Toyota or Lexus will be …

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Chinese buyers returned for French barley this month -traders

23 Jan 2023 23 Jan 2023

By Gus Trompiz and Michael Hogan PARIS/HAMBURG (Reuters) – Chinese buyers are thought to have booked at least several large vessels of French barley this month, swelling a French export programme as merchants ship out a previous round of sales from late last year, European traders said. China has become a major export market for …

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Reuters Asia Business﻿﻿

Reuters Asia Business