By Sumeet Chatterjee and Lawrence White HONG KONG/LONDON (Reuters) – HSBC Holdings Plc is set to speed up its exit from non-core markets and deploy additional capital in Asia, in a bid to push back against a breakup proposal put forward by its biggest shareholder, two people with knowledge of the matter said. Ping An …
Exclusive-HSBC set to push back against Ping An breakup proposal – sources Read More »
(Reuters) – China Evergrande Group said on Friday the Hong Kong state bourse had directed it to have a winding-up petition filed by a creditor dismissed for shares to resume trading. Shares of the indebted property developer have been on hold since March 21 as the company struggles to repay its suppliers and creditors and …
China Evergrande handed another HKEX condition to lift trading halt on shares Read More »
By Echo Wang and David Shepardson NEW YORK (Reuters) -TikTok’s global chief security officer Roland Cloutier, who oversees cyber security, is stepping down from his role but will stay at the company, according to a memo on TikTok’s website. Cloutier, who is based in Florida, said his move followed recent changes to the security teams …
By Kiki Lo and Jessie Pang HONG KONG (Reuters) – Seven Hong Kong men who tried to flee Hong Kong by speedboat to escape protest related charges were on Friday sentenced to between seven and 10 months imprisonment for acts to “pervert the course of justice”. The complicated legal and diplomatic saga began in August …
Hong Kong court jails young men who tried fleeing to Taiwan by boat Read More »
SHANGHAI/BEIJING (Reuters) -Volkswagen’s China chief said its goal of more than doubling its sales of ID electric vehicles (EV) “looks promising” this year as the German carmaker ramps up electrification efforts to retain the top position in its biggest market. VW is expecting to deliver 15,000 to 20,000 of the highly automated “intelligent design” cars …
Volkswagen China CEO: goal to more than double ID EV sales this year looks “promising” Read More »
By Emily Chow and Dominique Patton BEIJING (Reuters) – China is rolling out a quota system to limit exports of phosphates, a key fertiliser ingredient, in the second half of this year, analysts said, citing information from the country’s major phosphate producers. The quotas, set well below year-ago export levels, would expand China’s intervention in …
China issues phosphate quotas to rein in fertiliser exports – analysts Read More »
By Tom Westbrook SINGAPORE/NEW YORK (Reuters) – Investors betting that Japan will have to quit its ultra-loose monetary policy are running into riskier and pricier territory as the showdown shifts to the Bank of Japan’s home turf in the bond market. Japan is now alone among major economies in its stance of enforcing near zero …
Macro gamblers grapple with immovable Bank of Japan Read More »
By Paul Sandle LONDON (Reuters) -Luxury brand Burberry was hurt by lockdowns in its biggest market China and an abrupt reversal in fortunes in the Americas, limiting its first-quarter sales rise to 1%. The British brand, known for its red, black and camel check and TB monogram, saw comparable sales in mainland China plunge 35% …
Burberry held back by China lockdowns and U.S. weakness Read More »
JAKARTA (Reuters) – Indonesia exported 678,000 tonnes of palm oil in May, down 77% from the same month in 2021, after a ban on exports of crude palm oil and some derivatives, the Indonesian Palm Oil Association said on Friday. The export ban was implemented between April 28 to May 23. Domestic palm oil stocks …
Indonesia’s May palm oil exports slump, domestic stocks rise-assoc Read More »
By Josh Horwitz SHANGHAI (Reuters) -Shares in Alibaba Group fell the most in a month on Friday, after the Wall Street Journal reported that the Chinese tech giant’s cloud division has been summoned by Shanghai authorities in connection with a theft of police data. An anonymous hacker had earlier this month claimed to have obtained …
Alibaba shares post worst drop in a month after China data probe report Read More »
