Reuters Asia Business

Japan’s GPIF posts $28 billion Q1 investment loss on market turbulence

5 Aug 2022

TOKYO (Reuters) -Japan’s Government Pension Investment Fund (GPIF) reported on Friday an investment loss of 3.75 trillion yen ($28.13 billion) for April-June, the second consecutive quarter of negative returns, as economic slowdown fears hit global stock markets. The world’s largest pension fund lost 1.91% for the three months, trimming its overall assets to 193.126 trillion …

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Oil drops with dollar on recession fears; Wall Street ends mixed

4 Aug 2022

By Kevin Buckland OTTAWA (Reuters) – Crude oil sank with Treasury yields and the dollar on Thursday as recession worries intensified following the Bank of England’s warning of a drawn-out downturn and ahead of key a hotly anticipated U.S. employment report on Friday. Wall Street stocks ended mixed, with gains for high-growth stocks offset by …

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Dollar slides as investors turn attention to U.S. jobs data

4 Aug 2022

By Lananh Nguyen NEW YORK (Reuters) – The dollar weakened against most major currencies on Thursday as support from the Federal Reserve’s hawkish messaging subsided and investors turned their attention to a hotly anticipated U.S. jobs report. The dollar extended losses following U.S. data that showed the number of Americans filing new claims for unemployment …

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Oil prices hit lowest since Ukraine invasion amid recession fears

4 Aug 2022

By Noah Browning LONDON/NEW YORK (Reuters) – Global oil prices dropped on Thursday to their lowest levels since before Russia’s February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand. Benchmark Brent crude futures settled down $2.66, or 2.75%, at $94.12, the lowest …

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Thomson Reuters raises sales outlook, citing strong core in face of slowdown

4 Aug 2022

By Kenneth Li NEW YORK (Reuters) -Thomson Reuters Corp raised its full-year revenue forecast, which it said reflected strength in its legal, tax and accounting and corporates businesses, as it reported a better-than-expected second quarter profit on Thursday. The global news and information company said that it now expects 2022 revenue to increase by 6%, …

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China invites Zambia’s private creditors for debt restructuring talks

4 Aug 2022

LUSAKA (Reuters) -China invited Zambia’s private creditors to discuss the country’s debt later this month after official lenders agreed to a restructuring of its debt, Chinese ambassador to Zambia Du Xiaohui said on Thursday. Zambia’s creditors have pledged to negotiate a restructuring of the country’s debts in a move welcomed by International Monetary Fund (IMF) …

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China Evergrande to get $817.8 million for giving up land use rights for soccer stadium

4 Aug 2022

(Reuters) -Troubled property developer China Evergrande Group said on Thursday it would receive 5.52 billion yuan ($817.8 million) for cancelling a contract to buy land-use rights for a soccer stadium. The indebted group will return the land-use rights to the Guangzhou Municipal Planning and Natural Resources Bureau, from which it had acquired the rights in …

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Exclusive-Tencent seeks bigger stake in ‘Assassin’s Creed’ maker Ubisoft -sources

4 Aug 2022

By Julie Zhu and Selena Li HONG KONG (Reuters) – Tencent Holdings Ltd plans to raise its stake in French video game group Ubisoft Entertainment SA as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters. China’s largest social network and gaming firm, which …

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Auto supplier Aptiv cuts forecast on Europe gas supply worries

4 Aug 2022

By Kannaki Deka (Reuters) -Auto parts supplier Aptiv Plc lowered its annual forecasts for profit and revenue on Thursday, blaming production cuts by major automakers in Europe as the region braces for a disruption in gas supplies from Russia. Shares of the company, which counts Stellantis NV, Volkswagen AG and General Motors Co as customers, …

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