Reuters Asia Business

HONG KONG (Reuters) – CK Hutchison, the ports-to-telecoms arm of retired billionaire Li Ka-shing, said on Thursday its net profit in the first six months rose 4.3%, helped by high energy prices, steady contributions from infrastructure businesses. Profit rose to HK$19.09 billion ($2.43 billion) from HK$18.3 billion a year earlier, after accounting adjustments. “The group …

CK Hutchison H1 profit rises 4.3%, aims for solid H2 performance Read More »

By Kantaro Komiya and Daniel Leussink TOKYO (Reuters) – The Japanese yen’s rise against the U.S. dollar since mid-July is a temporary shift, nearly two-thirds of currency strategists in a Reuters poll said, despite looming uncertainties over the global economy that have curbed the U.S. currency’s rally. The yen was down as much as 17.5% …

Yen’s recent rise is temporary, two-thirds of strategists say – Reuters Poll Read More »

By Satoshi Sugiyama TOKYO (Reuters) -Toyota Motor Corp’s profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs. Operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year …

Hit by rising costs and supply snarls, Toyota profit tumbles 42% Read More »

SEOUL (Reuters) – South Korea’s Korean Air Lines and Asiana Airlines are cancelling flights to Taiwan for one or two days because of Chinese military exercises in the area, local media reported on Thursday, Korean Air canceled flights between Incheon and Taiwan on Friday and Saturday, while Asiana Airlines canceled Friday’s direct flight to Taiwan …

S.Korean airlines temporarily cancel flights to Taiwan, media says Read More »

TOKYO (Reuters) – Japan’s Fast Retailing, the owner of global clothing chain Uniqlo, said on Thursday it would open its first discount brand GU store in the United States this autumn. The store will open in the SoHo neighborhood of New York City in what will be the brand’s debut outside of the Asian market, …

Uniqlo owner Fast Retailing to open first GU discount clothing store in U.S Read More »

(Corrects Reuters Instrument Code in paragraph 10) By Josh Horwitz SHANGHAI (Reuters) -Chinese chipmaker Yangtze Memory Technologies Co Ltd (YMTC) on Wednesday announced new memory chip technology that would help it catch up with rivals Micron and SK Hynix, just as Washington considers steeper curbs on Chinese semiconductor companies. The company unveiled its fourth-generation 3D …

China’s memory upstart YMTC edges closer to rivals with 232-layer chip Read More »

By Anshuman Daga SINGAPORE (Reuters) -Singapore’s DBS Group warned inflation and geopolitical uncertainty may impact second-half performance too, after the wealth business of the bank suffered in the latest quarter, though profit beat estimates on rising interest rates. The quarterly earnings from DBS, Southeast Asia’s largest lender, rounded off a strong reporting season for Singapore …

DBS sees rising risks after rate increases boost quarterly profit Read More »

By Phuong Nguyen THAI NGUYEN, Vietnam (Reuters) – Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending. America’s largest warehouse market is full and major U.S. retailers such as Best Buy and …

Exclusive-Samsung workers in Vietnam bear brunt of slowdown in global demand for electronics Read More »

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – As Japan faces its first major battle with inflation in decades, Prime Minister Fumio Kishida is extending a rare olive branch to labour unions, who he sees as crucial to his wider push to boost household wealth. Wage stagnation has blighted Japan’s workers for years as …

Analysis-As inflation bites, Japan’s PM finds unlikely ally in labour unions Read More »

WASHINGTON (Reuters) – The U.S. International Trade Commission said on Wednesday it would investigate companies including Lenovo and Acer after receiving a complaint they violated U.S. law by selling certain video devices and products that infringed upon patents. The other companies identified as respondents in the investigation include Motorola, Micro-Star International and MSI Computer Corp. …

U.S. ITC investigates video device makers over alleged patent violations -statement Read More »