Reuters Asia Business

Japan intervened in forex market to stem weak yen – top currency diplomat Kanda

22 Sep 2022

TOKYO (Reuters) – The Japanese government has intervened in the foreign exchange market to sell dollars for yen to stem the Japanese currency’s recent sharp falls, top currency diplomat Masato Kanda said on Thursday. “We have taken decisive action (in the exchange market),” he told reporters, responding in the affirmative when asked if that meant …

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Toyota to produce 800,000 vehicles in October, weighed by chips shortage

22 Sep 2022

TOKYO (Reuters) -Toyota Motor Corp said on Thursday it plans to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages. The world’s largest automaker by sales said last month it aimed to produce about 900,000 vehicles per month from September through November. It now …

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U.S. dollar soars to two-decade high as Fed flags more large hikes

21 Sep 2022

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar surged to a fresh two-decade high on Wednesday after the Federal Reserve raised interest rates by another 75 basis points and signalled more large increases at its upcoming meetings. Dollar gains were limited since the Fed decision was widely expected. Still, since U.S. rates will be higher …

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Automakers tackle patent hurdle in quest for in-car tech

21 Sep 2022

By Victoria Waldersee and Supantha Mukherjee STOCKHOLM/BERLIN (Reuters) – Over a dozen automakers including Toyota and Nissan, have signed up with a platform for patent licences from 51 tech companies, aiming to simplify access to wireless technology and avoid costly legal battles. Conflicts have stemmed in part from different views among carmakers, suppliers and tech …

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Nvidia CEO sees ‘large space’ for China sales despite U.S. restrictions

21 Sep 2022

By Stephen Nellis (Reuters) -Nvidia Corp Chief Executive Jensen Huang said Wednesday that he continues to see a large market for Nvidia’s data center chips in China despite U.S. restrictions on exports of two of its top chips to the country. At a news conference after the company’s fall product launch, Huang said that the …

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China’s Xpeng says CATL is no longer its largest battery supplier

21 Sep 2022

SHANGHAI (Reuters) – Xpeng has diversified its battery suppliers and no longer counts industry giant CATL as its primary supplier, the Chinese electric car maker’s president said on Wednesday. The disclosure by one of CATL’s biggest clients reflects how Chinese EV automakers are starting to look for alternative suppliers in hope of better controlling costs, …

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Japan state-backed fund in talks with Bain on Toshiba buy-out -Nikkei

21 Sep 2022

TOKYO (Reuters) -A state-backed Japanese fund is in talks with private equity firm Bain Capital to form a consortium and bid for Toshiba, after breaking off from its previous partner, the Nikkei newspaper reported on Wednesday. It would mark a second proposal for Toshiba from state-backed Japan Investment Corp. The fund had previously joined forces …

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