Reuters Asia Business

By Heekyong Yang SEOUL (Reuters) -South Korean battery maker LG Energy Solution Ltd (LGES), a major supplier to U.S. carmakers including Tesla, is reassessing a $1.3 billion investment plan for a Arizona factory citing “unprecedented” economic conditions. News that South Korea’s biggest battery maker is reviewing the plan, unveiled only three months ago, knocked LGES …

S.Korea’s LGES reviews $1.3 billion Arizona battery investment as U.S. inflation bites Read More »

By Leika Kihara and Takahiko Wada TOKYO (Reuters) – The Bank of Japan (BOJ) may need to adjust its ultra-easy policy if inflation keeps exceeding its forecast, such as by replacing its yield cap with a looser reference range for long-term interest rates, a former central bank executive said on Wednesday. The BOJ will not …

BOJ may need to adjust yield cap if inflation overshoots – ex central bank official Read More »

By Casey Hall SHANGHAI (Reuters) – Restaurants and eateries in China’s largest city Shanghai begun reopening their doors to diners on Wednesday, bringing widespread relief to an industry that was badly hit by the city’s two month COVID-19 lockdown. Large chains such as hot pot brand Haidilao, fine dining establishments and family owned eateries had …

Widespread relief for Shanghai’s restaurant sector as dine-in resumes Read More »

HONG KONG (Reuters) – S&P Global Ratings raised Greenland Holdings Corp Ltd by one notch to “CCC” on Wednesday, after the Chinese state-backed property developer completed a one-year maturity extension on $500 million in senior unsecured notes. Last Wednesday, S&P downgraded Shanghai-based Greenland to “selective default”, after the firm proposed and later completed a one-year …

S&P upgrades Chinese developer Greenland days after cutting to ‘selective default’ Read More »

By Alexandra Alper WASHINGTON (Reuters) -U.S. President Joe Biden’s administration added five companies in China to a trade blacklist on Tuesday for allegedly supporting Russia’s military and defense industrial base, flexing its muscle to enforce sanctions against Moscow over its invasion of Ukraine. The Commerce Department, which oversees the blacklist, said the targeted companies had …

U.S. accuses five firms in China of supporting Russia’s military Read More »

SEOUL (Reuters) – South Korean consumers turned pessimistic about overall economic conditions in June for the first time in more than a year, while their inflation expectations hit a decade high, a central bank survey showed on Wednesday. The consumer sentiment index (CSI) dropped to 96.4 in June from 102.6 in May, marking the lowest …

S.Korean consumer sentiment dips in June – survey Read More »

By David Lawder WASHINGTON (Reuters) – Group of Seven democracies have had positive and productive discussions with China and India about a plan to cap the price of Russian oil, a source familiar with the G7 discussions said on Tuesday, adding the two major oil consumers would have incentives to comply. The source, speaking on …

G7 discussions with China, India on Russian oil price cap positive -source Read More »