By Kane Wu, Scott Murdoch and Julie Zhu HONG KONG (Reuters) – Wall Street major Morgan Stanley is expected to start a fresh round of layoffs globally in the coming weeks, three people with knowledge of the plan said, as dealmaking business takes a hit due to rising inflation and an economic downturn. In Asia …
Exclusive-Morgan Stanley to start layoffs in coming weeks as dealmaking slows -sources Read More »
By Gleb Stolyarov MOSCOW (Reuters) – With Russia’s domestic car industry smarting from the impact of Western sanctions, sales of used cars are leading a relative resurgence, with Japan accounting for more than three quarters of those imported, according to data shared with Reuters. Sales of new cars produced in Russia have slumped since Moscow …
Russia turns to Japan for used car imports as domestic production slumps Read More »
By Trixie Sher Li Yap SINGAPORE (Reuters) – Zhejiang Petroleum and Chemical Co (ZPC), China’s largest private refiner, is ramping up diesel output and reducing petrochemical production this month to cash in on higher export margins for the industrial fuel, five trade sources said. ZPC is among the refiners allocated export quotas for refined products …
China’s Zhejiang Petroleum raises diesel output on better margins – sources Read More »
(Reuters) – Tesla Inc delivered 71,704 China-made electric vehicles (EVs) in October, down 14% from a record high in the previous month, according to a report released on Thursday by the China Passenger Car Association (CPCA). The U.S. EV maker delivered 83,135 cars in September, setting a record for Tesla’s Shanghai factory since production began …
Tesla ships 71,704 China-made EVs in October – CPCA Read More »
HONG KONG (Reuters) – China will keep the yuan currency stable and increase flexibility of the yuan exchange rate, the central bank governor said on Thursday. Yi Gang, governor of the People’s Bank of China (PBOC), also said it is necessary to deepen financial reform and strengthen and improve modern financial supervision, according to a …
China to keep yuan stable, says central bank governor Read More »
By Josh Ye HONG KONG (Reuters) -China’s Lenovo Group reported its first revenue decline in 10 quarters as a pandemic-fuelled computer sales boom comes to an end, with sales especially falling in China as COVID lockdowns took a toll. The world’s largest maker of personal computers said on Thursday total revenue during the July-September quarter …
China’s Lenovo posts first revenue drop in 10 quarters as COVID lockdowns weigh Read More »
HONG KONG (Reuters) -A mansion belonging to embattled China Evergrande Group’s chairman in Hong Kong’s prestigious The Peak residential enclave has been seized by lender China Construction Bank (Asia), records from the Land Registry show. The bank appointed receivers to take over the 5,000 sq ft (465 sq m) mansion on Nov. 1, according to …
China Evergrande chairman’s Hong Kong mansion seized by bank Read More »
By Rozanna Latiff KUALA LUMPUR (Reuters) -Malaysia’s central bank delivered a fourth consecutive rate hike on Thursday as it sought to contain persistent inflation amid a positive growth outlook. Bank Negara Malaysia (BNM) lifted its overnight policy rate (OPR) by 25 basis points to 2.75%, as expected by all but two of 27 economists polled …
Malaysia central bank delivers fourth straight rate rise as inflation risks persist Read More »
BEIJING (Reuters) – The U.S has “no right” to interfere in Chinese cooperation with Germany, the foreign ministry said Thursday, after Washington “strongly suggested” that Beijing would not get a controlling stake in a contested deal regarding Hamburg’s port terminal. U.S. interference is symptomatic of its practice of coercive diplomacy, Chinese foreign ministry spokesman Zhao …
China says U.S. has ‘no right’ to interfere in Hamburg port deal Read More »
SINGAPORE (Reuters) – Southern China is expected to face a drought, which will reduce hydropower generation and mean more power output is needed from other sources to meet peak winter demand, a weather scientist said on Thursday. “Most parts of China are forecast to have near- or less rainfall this winter than a normal year. …
Southern China at risk of winter drought, drop in hydropower Read More »
