Reuters Asia Business

HONG KONG/SHANGHAI (Reuters) -China’s top financial regulators said on Wednesday that economic growth remains a priority and reforms and liberalisation would continue, seeking to allay foreign investors’ fears that ideology could take precedence during President Xi Jinping’s third leadership term. Speaking at the Global Financial Leaders’ Investment Summit in Hong Kong, officials made the first …

China’s top regulators commit to growth and reform amid foreign concerns over policy Read More »

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Some of the developed world’s central banks might be nearing peak rates and preparing to pivot – Australia’s and Canada’s spring to mind – but not the Fed. Not. At. All. The U.S. central bank announces its latest …

Marketmind: Full steam a-Fed Read More »

SHANGHAI (Reuters) – Several Shanghai residents received fresh stay-at-home orders and mandatory testing notices on Tuesday as authorities raced to trace contacts linked to a COVID-positive woman whose visit to the city’s Disney Resort prompted its temporary lockdown. In the central Chinese city of Zhengzhou, meanwhile, Apple iPhone manufacturer Foxconn announced a big increase in …

Shanghai Disney visitors told to stay home after COVID case, Foxconn ups bonuses Read More »

By Praveen Menon SYDNEY (Reuters) – BHP Group Ltd, the world’s biggest miner by market value, said on Wednesday that inflationary pressures would remain a challenge next year, but that China will provide a source of stability for commodity demand. The mining industry has been weighed down this year since the Russian invasion of Ukraine …

Miner BHP warns of inflation risks in 2023, says China demand to stabilize Read More »

WASHINGTON (Reuters) – The federal government should take action to rein in online media platform TikTok Inc, one of the U.S. FCC’s commissioners said in an interview, Axios reported on Tuesday. “I don’t believe there is a path forward for anything other than a ban,” the Federal Communications Commission’s Brendan Carr told the news outlet, …

U.S. FCC commissioner urges govt action on TikTok -Axios Read More »

(Reuters) -Marine and energy asset owner Atlas Corp will be taken private after accepting a sweetened $10.9 billion acquisition offer from Poseidon Acquisition Corp, the companies said on Tuesday. The transaction, expected to close in the first half of 2023, is a rare example of a large buyout. Such deals have dried up in recent …

Shipping, power owner Atlas agrees to higher $11 billion buyout by Poseidon Read More »

(Reuters) – Debt-laden property developer China Evergrande Group said on Tuesday its unit received a notice of enforcement for unrecoverable funds from Shengjing Bank Co Ltd. The bank said it failed to recover funds totalling 32.595 billion yuan ($4.48 billion), which was provided to the unit from 2020 to 2021, according to Evergrande. In early …

China Evergrande unit gets notice for $4.48 billion loan from Shengjing Bank Read More »

By Lindsay Dunsmuir and Jonathan Cable WASHINGTON/LONDON (Reuters) -Global factory output weakened in October as widespread recession fears, high inflation and China’s zero-COVID policy hurt demand, business surveys showed on Tuesday, adding to persistent supply disruptions and darkening recovery prospects. Inflation has soared globally as supply chains still healing from the coronavirus pandemic were hit …

Factory output weakens on widespread slowdown, China COVID curbs Read More »