By Sophie Yu and Norihiko Shirouzu BEIJING (Reuters) -China staged a low-key but historic debut of its C919 civil jet at its biggest air show on Tuesday, with some delegates unable to attend the scaled-down event because of Beijing’s zero-COVID policy as cases reached the highest level in six months. In a reminder of the …
China stages historic air show under cloud of zero-COVID Read More »
(Corrects paragraph 2 to say Foxconn’s expected ownership of Lordstown at completion will be 18.3% and not 19.3%) (Reuters) – Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the electric vehicle (EV) maker, making the Taiwanese contract manufacturer its biggest shareholder with a near …
BEIJING (Reuters) – U.S. apparel retailer Gap Inc has agreed to sell its Greater China businesses to Baozun Inc, the e-commerce service provider said on Tuesday, as headwinds persists for global consumer brands in the world’s second-largest economy. Dealmakers have seen opportunities for merger and acquisitions involving multinational firms that look to spin off their …
Gap to sell Greater China units to e-commerce firm Baozun Read More »
By Tim Hepher PARIS (Reuters) – Airbus deliveries accelerated in October to reach 497 airplanes so far this year, or an underlying total of 495 after excluding two Aeroflot deliveries cancelled due to Western sanctions against Russia, the planemaker said on Tuesday. Airbus delivered 60 jets in October, up from 55 the previous month. It …
Airbus speeds deliveries, books key Chinese jet order Read More »
BERLIN (Reuters) – Germany’s economy ministry has recommended to the cabinet that the government block the Chinese takeover of Elmos’ chip factory, saying it would pose a threat to national security, ministry sources said on Tuesday. Milder measures, such as an injunction, are not suitable for addressing the identified dangers, added the sources. Elmos said …
By Kiyoshi Takenaka TOKYO (Reuters) -Japanese videogame maker Nintendo Co Ltd cut its full-year Switch sales projection by nearly 10% after microchip shortages constrained console production, but it raised its annual net profit forecast thanks to a softer yen. Nintendo, which earns about 80% of its revenues overseas, expects its net profit to come to …
Nintendo lifts profit guidance on weaker yen, sees slower console sales Read More »
TAIPEI (Reuters) – Taiwan’s exports fell in October for the second straight month though less rapidly than forecast due to continued strong demand for chips for high performance computing and autos, but with the outlook again clouded by global inflation and the war in Ukraine. Exports edged down 0.5% in October from a year earlier …
Taiwan October exports edge down but chip demand holds up Read More »
SHANGHAI (Reuters) – China’s passenger vehicle sales totalled 1.86 million units in October, up 7.2% from the same period in 2021, the China Passenger Car Association (CPCA) said on Tuesday. Sales failed to grow as much as expected at the peak season, known as “Golden September and Silver October” for the auto industry, CPCA secretary …
China sold 1.86 million passenger cars in Oct, up 7.2% y/y – CPCA Read More »
By Norihiko Shirouzu BEIJING (Reuters) – Renault SA and China’s Geely said on Tuesday they have agreed to launch a new, equally held joint venture that will supply gasoline engines and hybrid technology to the brands they own as well as to other automakers. While it was not immediately clear whether the venture represents a …
Renault, Geely clinch deal for internal-combustion joint venture Read More »
TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida’s cabinet approved a second supplementary budget on Tuesday for this fiscal year to fund an economic stimulus package, backed by extra new debt, the Ministry of Finance (MOF) said. (Reporting by Tetsushi Kajimoto; Editing by Andrew Heavens)
