Reuters Asia Business

Boeing disappointed after China’s top three airlines buy 300 Airbus planes

2 Jul 2022

(Reuters) – Boeing Co said on Friday “it is disappointing that geopolitical differences continue to constrain U.S. aircraft exports” while responding to China’s three biggest state-owned airlines buying 300 jets from European planemaker Airbus SE. The U.S. planemaker added that it continued to urge a productive dialogue between the U.S. and China governments. (This story …

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Oil rises more than 2% as supply outages outweigh recession fears

1 Jul 2022

By Laila Kearney NEW YORK (Reuters) -Oil prices gained more than 2% on Friday as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand. Brent crude futures settled at $111.63 a barrel, rising $2.60, or 2.4%. West Texas Intermediate crude (WTI) settled at $108.43 a barrel, …

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Chinese state airlines to buy almost 300 Airbus jets

1 Jul 2022

BEIJING/SYDNEY (Reuters) -China’s “Big Three” state airlines pledged on Friday to buy a total of almost 300 Airbus jets, the biggest order by Chinese carriers since the start of the COVID-19 pandemic and a breakthrough for Europe as Boeing remains partially frozen out of China. In apparently coordinated announcements, Air China and China Southern Airlines …

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China’s Great Wall Motor shelves $1 billion India plan -sources

1 Jul 2022

By Aditi Shah NEW DELHI (Reuters) -China’s Great Wall Motor has shelved plans to invest $1 billion in India and laid off all employees at its operations there after failing to obtain regulatory approvals, three sources with direct knowledge of the matter said on Friday. The Chinese automaker has been planning to enter the Indian …

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TikTok seeks to reassure U.S. lawmakers on data security

1 Jul 2022

By David Shepardson and Echo Wang (Reuters) -Chinese-owned social media site TikTok told U.S. senators it was working on a final agreement with the Biden Administration that would “fully safeguard user data and U.S. national security interests,” according to a TikTok letter seen Friday by Reuters. The letter dated Thursday came in response to questions …

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GM outsells Toyota in Q2 as inventory shortages linger

1 Jul 2022

By Abhijith Ganapavaram (Reuters) – General Motors Co surpassed Toyota Motor Corp in second-quarter U.S. car sales, data on Friday showed, even as persistent chip shortages and supply-chain disruptions crimped automakers’ ability to meet pent-up demand. GM, which lost its crown as the U.S. sales leader last year for the first time since 1931 to …

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