Reuters Asia Business

(Reuters) -Toyota Motor Corp said on Tuesday its July global vehicle production had fallen 8.6% year-on-year, missing its target for the fourth straight month, as COVID outbreaks, severe weather and a recall probe on top of a persistent chip shortage hurt output. The sustained weakness in overall performance in July from the world’s largest automaker …

Toyota’s July global vehicle output drops again, puts annual target in doubt Read More »

(Reuters) – Global funds that invested in China Evergrande Group’s bonds have come up with their own debt restructuring plan for the property developer and demanded that its chair repay liabilities with his own fortune, the Financial Times reported on Tuesday, citing two people familiar with the matter. With more than $300 billion in liabilities, …

China Evergrande bondholders push own plan for debt restructuring – FT Read More »

(Reuters) – U.S.- listed shares of Chinese companies fell on Tuesday over rising tensions between Beijing and Taiwan, while a Reuters report naming Alibaba among the first batch of firms to be audited by the United States also dented sentiment. Taiwan’s military fired warning shots at a Chinese drone which buzzed an islet controlled by …

U.S.-listed Chinese shares tumble on geopolitical, regulatory concerns Read More »

By Gilles Guillaume PARIS (Reuters) – China’s Geely Automobile Holdings and an oil group are in talks about taking stakes in the fossil-fuel engine unit Renault plans to separate from its electric vehicle (EV) business, two sources close to the French carmaker said. But Renault’s alliance partner, Japanese carmaker Nissan, does not plan to take …

Exclusive-Geely, oil group could take stakes in Renault engine company – sources Read More »

BEIJING (Reuters) -Industrial and Commercial Bank of China Ltd (ICBC), the world’s largest commercial lender by assets, said soured lending to the real estate sector in the first half of this year rose 15%. The lender reported 38.8 billion yuan of non-performing loans (NPL) at the end of June, compared with 33.8 billion yuan at …

Top China bank ICBC, world’s largest, reports jump in property bad debt Read More »

(Reuters) -China’s search engine giant Baidu Inc beat quarterly revenue estimates on Tuesday, underpinned by demand for its cloud and artificial intelligence-powered offerings. U.S.-listed shares of the company rose 3.2% in pre-market trade. Even as Baidu’s core advertising sales continue to be soft, customers are signing up for its cloud services – a key area …

Baidu beats quarterly revenue estimates on cloud business boom Read More »

By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s talks with the International Monetary Fund (IMF) on a bailout package have made solid progress, its president said on Tuesday, as he presented an interim budget aimed at boosting revenue and mending the country’s battered finances. In an address to parliament, President Ranil Wickremesinghe also said the …

Sri Lanka president raises IMF loan hopes, budget aims to bolster revenue Read More »