Reuters Asia Business

MANILA, Dec 11 (Reuters) – The Asian Development Bank has approved a $500 million policy-based loan to support the Philippines’ blue economy, focusing on protecting its marine ecosystem against threats posed by extreme weather and plastic pollution. The programme, which will be co-financed by Agence Française de Développement and Germany’s KfW Development Bank with each …

ADB approves $500 million loan to support a sustainable Philippine blue economy Read More »

By Daniel Leussink TOKYO, Dec 11 (Reuters) – Elliott Investment Management has lifted its stake in Toyota Industries to 5.01%, further increasing pressure on automotive giant Toyota Motor, which plans to buy out the forklift manufacturer, a key group firm. The U.S. activist investor, which spent 268 billion yen ($1.7 billion) on acquiring the stake, …

Elliott heaps pressure on Toyota with 5% stake in group firm slated for buyout Read More »

(Corrects spelling in paragraph 1) SEOUL, Dec 10 (Reuters) – South Korea’s biggest online retailer Coupang said on Wednesday that its Chief Executive Officer Park Dae-jun has resigned, taking responsibility for a huge data breach at the company. Coupang said Harold Rogers, the chief administrative officer of its parent company in the United States, will …

Coupang CEO resigns after online retailer hit by massive data breach Read More »

NEW YORK, Dec 10 (Reuters) – The U.S. dollar extended losses against major peers including the euro, Swiss franc, and Japanese yen on Wednesday after the Federal Reserve lowered interest rates in a widely expected move. The Fed’s decision to lower the benchmark policy rate by a quarter of a percentage point to the 3.50%-3.75% …

Dollar loses ground against peers after Fed cuts rates Read More »

BRUSSELS, Dec 10 (Reuters) – Temu’s European headquarters in Dublin were raided by EU regulators last week on concerns about potential Chinese state subsidies granted to the online retailer, a subsidiary of China’s ecommerce giant PDD Holdings, a person familiar with the matter said on Wednesday. Temu did not immediately respond to requests for comment. …

Temu’s Dublin office raided by EU regulators on Chinese subsidy concerns Read More »

BEIJING/SINGAPORE, Dec 10 (Reuters) – ByteDance and Alibaba have asked Nvidia about buying its powerful H200 AI chip after U.S. President Donald Trump said he would allow it to be exported to China, four people briefed on the matter told Reuters.  The Chinese companies are keen to place large orders for Nvidia’s second most powerful …

Exclusive-ByteDance, Alibaba keen to order Nvidia H200 chips after Trump green light, sources say Read More »

By Colleen Howe BEIJING, Dec 10 (Reuters) – Chinese polysilicon makers have set up an acquisition company to help restructure an industry plagued by oversupply, local media reported on Wednesday, although it was unclear if the firm has concrete plans to buy and shut excess capacity. The company, Beijing Guanghe Qiancheng Technology, was registered in …

China’s polysilicon giants set up acquisition firm to tackle oversupply Read More »