By Takaya Yamaguchi and Makiko Yamazaki TOKYO (Reuters) -Toshiba Corp’s shares rose 7% on Thursday on a report of a potential Japanese-led $19 billion bid that could lead to foreign activist investors being bought out after years of tension. A consortium led by private equity firm Japan Industrial Partners has been given preferred status in …
Toshiba shares jump on report of possible Japanese-led $19 billion bid Read More »
By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) -A party in Japan’s ruling coalition is seeking 2 trillion yen ($13.6 billion) in child care support as part of an economic stimulus package, a draft proposal showed, indicating that steps are under way to flesh out specific spending plans. The proposal by Komeito, a partner of …
Japan coalition party seeks $13.6 billion for child care in stimulus draft Read More »
By Scott Murdoch HONG KONG (Reuters) -Hong Kong dealmakers expect China’s 20th Party Congress next week to herald a shift in focus in Beijing back towards business and economic issues that could help revive the city’s IPO issuance from nine-year lows. Rolling COVID-19 lockdowns have been blamed for dramatically slowing China’s economic growth, shutting it …
Glum Hong Kong dealmakers pin hopes on China Congress to revive economy, IPOs Read More »
JAKARTA (Reuters) – Coal miner PT TBS Energi Utama aims to start producing electric scooters in 2024 through its joint venture with tech giant PT GoTo Gojek Tokopedia, executives said on Thursday. The joint venture, Electrum, currently provides services like battery swapping and leasing electric scooters to drivers on ride-hailing app Gojek. “By 2024, we …
Indonesia’s GoTo-TBS JV targets electric scooter production in 2024 Read More »
By Noah Browning LONDON (Reuters) – A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency said on Thursday. “The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut …
OPEC+ oil supply cuts could tip world into recession, IEA says Read More »
TOKYO (Reuters) -Japan’s Fast Retailing Co, owner of clothing brand Uniqlo, reported record full-year profit on Thursday, boosted by a decline in the yen and overcoming lingering weakness in the Chinese market. Operating profit was 297.3 billion yen ($2.02 billion) in the 12 months through August compared with 249 billion yen a year earlier. That …
Uniqlo operator posts record annual profit despite China slump Read More »
By Ben Blanchard and Sarah Wu TAIPEI (Reuters) – Taiwanese chipmaker TSMC cut its annual investment budget by at least 10% for 2022 and struck a more cautious note than usual on upcoming demand, flagging challenges from rising inflationary costs and predicting a chip downturn next year. Speaking on the latest set of U.S. export …
TSMC cuts capex on tool delays, demand woes; cautious on outlook Read More »
BEIJING (Reuters) – Chinese local governments have started buying up homes to bring down high unsold housing stock, according to a state-owned newspaper, taking a fresh approach after a slew of stimulus property policies failed to boost fragile demand. China’s property market has deepened its slump in recent months with declines in prices, sales and …
Chinese localities buy homes to work down high housing inventory Read More »
(Reuters) -Applied Materials Inc said on Wednesday export curbs related to China’s chip industry would result in a net sales hit of $250 million-$550 million in the quarter ending Oct. 30, with a similar impact expected in the following three months. The company’s shares dropped 1.5% in extended trade. Under sweeping new regulations published by …
Applied Materials cuts quarterly revenue, profit estimates on new China export curbs Read More »
By Sinéad Carew and Elizabeth Howcroft NEW YORK/LONDON (Reuters) – Wall Street’s equity indexes ended Wednesday’s volatile session in the red and the dollar made little progress while bond yields fell as investors digested minutes from the latest Federal Reserve meeting and waited for a key U.S. inflation reading. The dollar pared gains after earlier …
S&P ends lower, dollar loses ground after Fed minutes Read More »
