Reuters Asia Business

Fuji Soft proxy fight the latest test of Japan Inc board independence

4 Dec 2022

By Makiko Yamazaki TOKYO (Reuters) -Singapore-based hedge fund 3D Investment Partners got two of its nominees on the board of software developer Fuji Soft Inc on Sunday, in the latest proxy fight by activist investors seeking more independent oversight of Japanese firms. Three battles in recent months have questioned how independent from management Japan’s outside …

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Japan cautious on capital gains tax; must stick to increasing defence

4 Dec 2022

TOKYO (Reuters) – Japan should avoid rushing into raising capital gains tax as doing so could send a wrong message to markets when Japan is encouraging financial investment, a senior government official said on Sunday. “Strengthening taxation could send a wrong signal that runs counter to our aim of expanding investment,” Deputy Chief Cabinet Secretary …

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Renault and Nissan forgo Wednesday announcement of alliance deal – sources

3 Dec 2022

By Maki Shiraki and Norihiko Shirouzu TOKYO (Reuters) -Renault SA and Nissan Motor Co are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, three people familiar with the matter said. In their discussions, Renault is looking to Nissan to invest in its …

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Three Arrows Capital says its founders still not cooperating with asset recovery

3 Dec 2022

By Dietrich Knauth (Reuters) -Liquidators for bankrupt crypto hedge fund Three Arrows Capital(3AC) said on Friday that the company’s founders are refusing to cooperate with asset recovery efforts, hindering the company’s ability to return funds to creditors. Founders Kyle Davies and Su Zhu are more interested in rehabilitating their reputation than helping their own company’s …

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China says it supports resolving Zambia debt issues

3 Dec 2022

BEIJING/JOHANNESBURG (Reuters) – China supports resolving Zambia’s “debt issues”, its Ministry of Foreign Affairs said on Thursday, a day after the southern African country’s finance minister said it aimed to finish its delayed debt restructuring by the first quarter of 2023. China had been seeking “clarifications” from the Zambian government and the International Monetary fund …

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Pakistan repays $1 billion international bond -central bank spokesman

3 Dec 2022

By Gibran Naiyyar Peshimam ISLAMABAD (Reuters) – Pakistan repaid a $1 billion international bond, the central bank spokesman said on Friday, amidst growing uncertainty about the country’s ability to meet external financing obligations. The South Asian nation’s economy has been beset by multiple crises, including the fallout of devastating floods that killed 1,700 people, low …

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German government not planning blanket Huawei ban

3 Dec 2022

BERLIN (Reuters) -Germany does not want to follow the United States in generally banning products made by Chinese telecoms equipment makers such as Huawei, but will continue making such decisions on a case-by-case basis, an Economy Ministry spokesperson said on Friday. Berlin’s relationship with Beijing has come under close scrutiny since Russia’s invasion of Ukraine, …

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Stocks regain some lost ground as investors interpret U.S. payrolls data

3 Dec 2022

By Sinéad Carew NEW YORK (Reuters) – U.S. Treasury yields were lower and Wall Street’s benchmark S&P 500 ended down but well above the day’s lows on Friday as investors digested a stronger than expected jobs report, which had raised concerns about the Federal Reserve’s ability to slow rate hikes. The U.S. Labor Department reported …

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GM, LG joint venture to invest $275 million in Tennessee battery cell plant

3 Dec 2022

By David Shepardson WASHINGTON (Reuters) -General Motors Co and LG Energy Solution Ltd said Friday they are investing another $275 million in their Tennessee joint venture battery cell plant to increase production by more than 40%. The new investment in the Ultium Cells Spring Hill plant will boost battery output from an annual capacity of …

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