Reuters Asia Business

By Medha Singh and Lisa Pauline Mattackal (Reuters) – For years, ether could barely dream of challenging its big brother bitcoin. Now, its ambitions may be becoming more realistic. The second-biggest cryptocurrency is taking market share from bitcoin ahead of an all-important “Merge” software upgrade that could sharply reduce the energy usage of its Ethereum …

Cryptoverse: Ether snaps at bitcoin’s heels in race for crypto crown Read More »

SYDNEY (Reuters) -Japan Airlines Co Ltd (JAL) is operating at 65% of its pre-pandemic international capacity, although COVID-19 curbs are limiting demand to just about 40% of pre-pandemic levels, an airline executive said on Tuesday. In the domestic market, the airline is operating at 100% of its pre-pandemic capacity, though demand is about 80% of …

Japan Airlines’ capacity outstrips demand amid COVID curbs, official says Read More »

(Reuters) – Starbucks Corp said on Tuesday it plans to have about 9,000 stores in China by 2025, a 56% increase from its current count. That increase equates to one new store opening nearly every nine hours for the next three years, Starbucks said. (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

By Andreas Rinke and Sarah Marsh BERLIN (Reuters) – Germany’s ruling coalition is divided over whether to let China’s Cosco take a stake in a Hamburg port terminal, government sources say, even as Beijing urges Berlin not to politicize the bid and the port authority warns this could hurt the economy. Shipping giant Cosco last …

German coalition divided over Chinese bid for Hamburg port terminal Read More »

(Reuters) -Twitter Inc’s shareholders approved a $44 billion buyout by Elon Musk on Tuesday, handing over the deal’s outcome to a court battle in which the billionaire is trying to scrap the purchase. (Reporting by Nivedita Balu in Bengaluru; Editing by Devika Syamnath)

By Sarah Wu TAIPEI (Reuters) -Taiwan’s GlobalWafers Co Ltd expects to start construction in November of its new $5 billion plant in Texas, the company’s chairwoman and CEO said on Tuesday. The company said in June it would build the plant to make 300-millimetre silicon wafers used in semiconductors, switching from a defunct plan to …

Taiwan’s GlobalWafers sees Nov groundbreaking for $5 billion Texas plant Read More »

By Fanny Potkin, Eduardo Baptista and Tony Munroe SINGAPORE/BEIJING (Reuters) – Even as China bars 1.4 billion citizens from Twitter, its local authorities are splurging on global advertising on the site, helping make the country the platform’s fastest-growing overseas ad market and one of its largest non-U.S. revenue sources. A Reuters review of publicly available …

From block to blue ticks: How China became big business for Twitter Read More »

By Ahmad Ghaddar LONDON (Reuters) – Crude oil refining capacity has shrunk by a record 3.8 million barrels per day from March 2020 to mid-2022 as demand expanded, setting the stage for fuel markets to remain very tight until at least mid-decade, International Energy Forum and S&P Global research showed. The fall in capacity comes …

Fuel markets to stay tight till mid-2020s as refining shrinks Read More »