Reuters Asia Business

By Anshuman Daga and Yantoultra Ngui SINGAPORE (Reuters) – Barclays Plc, which recently made big investments in India and Australia and set up a Taiwan subsidiary in July, is evaluating entering new markets but is currently focused on building up its franchises, its top regional executive said. The British lender has been re-building its Asian …

Barclays builds up Asia business, sees growth in India and Australia Read More »

By Makiko Yamazaki TOKYO (Reuters) -Nomura Holdings Inc, Japan’s top brokerage and investment bank, said it was unhappy with its latest profit performance after a sharp downturn in financial markets battered its asset management and investment banking earnings. Nomura, which has long struggled to fulfil its ambition of successfully expanding outside Japan, has like rival …

Nomura calls quarterly profit unsatisfactory as market downturn bites Read More »

SHANGHAI (Reuters) – Chinese electric vehicle maker NIO suspended production at its plants in the eastern city of Hefei as rising COVID-19 cases and China’s heavy-handed response to outbreaks exact a widening toll on manufacturing and the economy. The impact was also felt in the central city of Zhengzhou, where the industrial park housing a …

China COVID curbs exact wider business toll on Yum, EV maker Nio Read More »

TOKYO (Reuters) – Toyota Motor Corp president Akio Toyoda on Wednesday raised the issue of tax breaks in a meeting with Japanese Prime Minister Fumio Kishida on support for the mobility industry as a pillar of the economy as Japan seeks to cut carbon emissions. The pair’s meeting came after Kishida said he wanted to …

Toyota chief urges Japan govt support in meeting with PM on climate transition Read More »

SHANGHAI/BEIJING (Reuters) -Electric vehicle giant Tesla has closed what had been its flagship showroom in China as the company adjusts its sales and service strategy in its second-largest market, two people with knowledge of the matter said. Tesla shut the showroom in Beijing’s Parkview Green, an upscale downtown shopping centre late last week, according to …

Tesla closes its first showroom in China in retail strategy shift – sources Read More »

SHANGHAI (Reuters) – Zhejiang Geely Holding Group’s premium electric car business plans to sell the first electric vehicle produced under the Zeekr brand in Europe next year, Zeekr’s CEO said. Zeekr joins a growing list of Chinese automakers looking to launch or expand sales of electric vehicles in Europe next year, including BYD, Xpeng and …

Geely’s Zeekr plans electric vehicle sales in Europe in 2023 Read More »

TOKYO (Reuters) – State-backed Japan Investment Corp (JIC) has received approval to expand its investment framework to 900 billion yen ($6.11 billion) from 200 billion yen, a government source said on Wednesday. JIC heads a consortium that has been preparing a bid to buy out Toshiba Corp. The preferred bidder is private equity firm Japan …

Japan Investment Corp gets approval to boost investment framework -govt source Read More »

By Selena Li, Kane Wu and Xie Yu HONG KONG (Reuters) -Hong Kong leader John Lee on Wednesday pitched the city’s connection with China in an address to some of the world’s top financial executives, as he strives to rebuild the Chinese territory’s COVID-hit image as a major financial hub. Chief Executive Lee told the …

Hong Kong hardsells ‘China advantage’ to global banks to revive hub image Read More »

By Selena Li and Scott Murdoch HONG KONG (Reuters) -Standard Chartered CEO Bill Winters said on Wednesday that the lender’s majority-owned Hong Kong digital bank Mox will break even towards the end of next year or early 2024. Mox, a joint venture launched by Standard Chartered with PCCW, Hong Kong Telecom and online travel agency …

HK digital bank Mox to break even as early as end-2023 – StanChart CEO Read More »