Reuters Asia Business

(Reuters) – Embattled property developer China Evergrande on Monday said that its current auditor, PricewaterhouseCoopers (PwC), has resigned as the parties disagreed over the timeline and scope of work surrounding the firm’s status as a going concern and other audit-related matters for fiscal 2021. Once China’s top-selling developer, Evergrande is now at the centre of …

China Evergrande’s auditor quits on disagreement around 2021 audit-related matters Read More »

BEIJING (Reuters) – China’s finance ministry said on Monday it will boost funding for COVID-19 prevention and control, urging local fiscal departments to step up transfer payments to rural and poor areas, it said in a statement. The world’s second-largest economy has seen a surge in COVID infections after Beijing abruptly removed stringent anti-virus curbs …

China to boost spending for COVID prevention, treatment Read More »

TAIPEI (Reuters) – Taiwanese chipmaker United Microelectronics Corp (UMC) said on Monday it was implementing strict cost controls because of soft demand and a weak outlook, in a further sign of pain facing the tech industry. UMC, whose clients include U.S. company Qualcomm Inc and Germany’s Infineon, has benefited from a global semiconductor shortage that …

Taiwan chipmaker UMC imposes strict cost controls over weak demand Read More »

LONDON (Reuters) – Global employment growth is expected to slow down sharply to 1% this year compared to 2% in 2022, hit by the economic fallout of the war in Ukraine, high inflation and tighter monetary policy, the International Labour Organization (ILO) said on Monday. At the same time, the number of unemployed people in …

Global jobs growth will halve in challenging 2023: ILO Read More »

By Junko Fujita TOKYO (Reuters) – Market forces have pushed Japanese government bond yields above policy targets. The moves are the biggest test in seven years of yield control in Japan, and dealers say the central bank’s dominance of trading is making the market barely functional. Here is what is happening and what it means: …

What is happening in Japan’s bond market? Read More »