By Yimou Lee and Sarah Wu TAIPEI (Reuters) -Taiwanese chipmaker TSMC warned on Thursday that first-quarter revenue would drop as much as 5% and it would slash annual investment as the major Apple Inc supplier expects softer demand due to a slowing global economy. The bearish outlook follows a forecast-beating 78% jump in fourth-quarter profit, …
TSMC cuts 2023 capex after record Q4 as chip demand weakens Read More »
(Reuters) – Olympus Corp, a Japanese medical device maker, said it was taking action to address concerns raised by the U.S. health regulator related to violations found during the inspection of the company’s facilities in Japan. The U.S. Food and Drug Administration (FDA) said on Monday it had issued warning letters to Olympus’ units pertaining …
Olympus says fixing issues raised by U.S. FDA about facilities in Japan Read More »
By Timothy Gardner WASHINGTON (Reuters) – The U.S. House of Representatives overwhelmingly passed a bill on Thursday to ban releases of oil from the U.S. Strategic Petroleum Reserve from being exported to China, though the measure faces an uncertain future in the Senate. The bill passed 331-97 in the House, which Republicans took narrow control …
U.S. House passes bill banning exports of reserve oil to China Read More »
BANGKOK (Reuters) -ExxonMobil has agreed to sell its two-thirds stake in Esso Thailand to Thai energy firm Bangchak Corporation, the companies said, in a deal valued at about 20.1 billion baht ($603 million). Bangchak shares closed up 9% while Esso Thailand, which closed at 11.2 baht on Wednesday, fell 17% after the companies made the …
Bangchak to buy ExxonMobil’s Esso Thailand stake for about $603 million Read More »
(Reuters) -Bain Capital Private Equity said on Thursday it has completed a deal to acquire a stake in renewable fuel producer EcoCeres Inc, as the Boston-based investor strives to ramp up its sustainable investment. Bain said in response to a Reuters query that the firm invested $400 million of growth capital for a significant stake …
Bain Capital buys stake in biofuel firm for $400 million Read More »
By Archishma Iyer (Reuters) – Bullish bets on the Thai baht and Chinese yuan hit five-year highs as China’s sharp pivot from its strict COVID-19 curbs boosted investors’ appetite for strengthening long positions in regional currencies, a Reuters poll showed on Thursday. Long positions firmed on nearly all Asian emerging currencies, many of which had …
Asian FX bulls jump to multi-year highs, spurred by China reopening: Reuters poll Read More »
By Mei Mei Chu KUALA LUMPUR (Reuters) – Malaysia said on Thursday it could stop exporting palm oil to the European Union in response to a new law in the bloc that aims at protecting forests by strictly regulating sale of the product. Commodities Minister Fadillah Yusof said Malaysia and Indonesia would discuss the law, …
Malaysia says it could stop palm oil exports to EU after new curbs Read More »
BRUSSELS (Reuters) – Europe’s top court on Thursday confirmed the annulment of an EU antitrust fine handed out to HSBC in 2016 for rigging the Euribor financial benchmark together with six other banks. “The Court of Justice upholds the annulment of the 33.6 million euro fine imposed on the HSBC Group,” the Luxembourg-based EU Court …
EU court confirms HSBC’s annulled euribor cartel fine Read More »
BENGALURU (Reuters) – China’s Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm worth $125 million through a block deal on Thursday, a source with direct knowledge of the matter told Reuters. Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source …
Alibaba sells Paytm stake worth $125 million via block deal – source Read More »
BEIJING (Reuters) – China’s state-owned Commercial Aviation Corp of China (COMAC) expects to reach annual production of 150 domestically-produced C919 planes in the next five years, government-backed media The Paper said on Friday, citing COMAC’S deputy general manager Zhang Yujin. Zhang also said Friday that COMAC had received more than 1,200 orders for the narrowbody …
