By Julie Zhu HONG KONG (Reuters) -China is working on a more than 1 trillion yuan ($143 billion) support package for its semiconductor industry, three sources said, in a major step towards self sufficiency in chips and to counter U.S. moves aimed at slowing its technological advances. Beijing plans to roll out what will be …
By Joe Cash, Ellen Zhang and Sophie Yu BEIJING (Reuters) – From e-commerce giant JD.com to cosmetics brand Sephora, companies in China are rushing to minimise the impact of surging COVID infections – doling out test kits, encouraging more work from home and, in some cases, procuring truckloads of medicine. After unprecedented protests against oft-draconian …
Hit by COVID wave, companies in China strain to keep operations running normally Read More »
(Reuters) -The United States has spoken with its partners, including Japan and the Netherlands, on tightening exports to China of equipment used to make semiconductors, Jake Sullivan, the White House national security adviser, said on Monday. The Biden administration aims to cut China off from certain semiconductor chips made anywhere in the world with U.S. …
U.S. consulted Japan, Netherlands on curbing chip-related exports to China Read More »
By Stefanno Sulaiman JAKARTA (Reuters) – Indonesia’s parliament is expected to pass a bill this week that will allow former politicians to head Bank Indonesia (BI), the central bank, and expand its mandate to include supporting economic growth, moves that critics say could weaken its independence. The parliamentary commission overseeing the legislation, called the “Development …
Explainer-How will new Indonesian finance laws change the central bank? Read More »
SEOUL (Reuters) – Most of the Bank of Korea’s policy board members called for closer attention toward signs of stress in local financial markets while agreeing to a rate hike at their November meeting, minutes showed on Tuesday. The Bank of Korea’s (BOK) monetary policy board unanimously raised its benchmark policy rate by 25 basis …
Bank of Korea board members called for closer watch on market instability Read More »
A look at the day ahead in European and global markets from Anshuman Daga The arrest of FTX’s former CEO Sam Bankman-Fried in the Bahamas at the behest of U.S. prosecutors, just a month after the cryptocurrency exchange filed for bankruptcy, is turning out to be the headline of the day. And for financial markets …
By Victoria Waldersee and Gergely Szakacs BERLIN/BUDAPEST (Reuters) -German automakers and Asian battery suppliers are getting together in Hungary in a multi-billion-dollar marriage of convenience to drive their electric ambitions. The companies are flocking to central Europe, where Viktor Orban’s government is defying Western wariness of China and offering generous benefits to host foreign operations …
German car giants and Asian battery kings: a match made in Hungary Read More »
(Editor’s note: This story contains language in paragraph 18 that some readers may find offensive) By Jasper Ward, Luc Cohen and Angus Berwick (Reuters) – FTX founder Sam Bankman-Fried was arrested in the Bahamas at the behest of U.S. prosecutors on Monday, the day before he was due to testify before Congress about the abrupt …
Former FTX CEO Bankman-Fried arrested in Bahamas after U.S. files charges Read More »
BEIJING (Reuters) – China’s southern city of Guangzhou will host its delayed auto show from Dec. 30 to Jan 8 next year, the event’s organiser said on Tuesday, in order to support the economy and boost industry confidence. The event had been postponed from earlier this year to comply with epidemic prevention and control measures …
China’s Guangzhou to host auto show from Dec. 30 -organiser Read More »
By Lawrence Delevingne (Reuters) -Wall Street stocks, oil prices and U.S. Treasury yields all rose on Monday as investors took an optimistic stance ahead of the last round of transatlantic central bank interest rate hikes this year, hoping that the now-hefty pace of increases in borrowing costs will finally slow. The Dow Jones Industrial Average …
Wall St turns bullish ahead of inflation data, Fed action Read More »
