Reuters Asia Business

Facebook-owner Meta Platforms’ Sheryl Sandberg to leave after 14 years

2 Jun 2022

By Katie Paul (Reuters) -Meta Platforms Inc Chief Operating Officer Sheryl Sandberg, whose close partnership with Chief Executive Officer Mark Zuckerberg powered the growth of the world’s biggest social network, is leaving the company after 14 years, she said in a Facebook post on Wednesday. The announcement initially sent the social media firm’s shares down …

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Global equities fall despite positive U.S. economic data, dollar rises

1 Jun 2022

By Chibuike Oguh NEW YORK (Reuters) -Global equities fell and the U.S. dollar advanced on Wednesday after stronger-than-expected economic data was unable to assuage investor concerns of high inflation and an impending recession driven partly by rising oil prices. A report by the Institute for Supply Management (ISM) showed U.S. manufacturing activity picked up in …

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Singapore’s new trade data sharing platform aims to stem fraud

1 Jun 2022

By Anshuman Daga and Jeslyn Lerh SINGAPORE (Reuters) -A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state’s attempts to bolster confidence after a spate of commodity trade finance frauds in recent years. The Singapore Trade Data Exchange (SGTraDex), whose founders …

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U.S., Taiwan to launch trade talks after island excluded from Indo-Pacific group

1 Jun 2022

By David Lawder and Michael Martina WASHINGTON (Reuters) -The United States will launch new trade talks with Taiwan, U.S. officials said on Wednesday, just days after the Biden administration excluded the Chinese-claimed island from its Asia-focused economic plan designed to counter China’s growing influence. Washington and Taipei will “move quickly to develop a roadmap” for …

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Arbitration hearing set for January in Vedanta-Zambia dispute

1 Jun 2022

LUSAKA (Reuters) -Zambia’s decision three years ago to take control of a copper mine in the country’s north will be subject to an arbitration hearing in January in London, the country’s mines minister said on Wednesday, amid a lengthy dispute over the mine’s ownership. Zambia in May 2019 handed control of Konkola Copper Mines (KCM) …

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Dollar rises on upbeat U.S. data

1 Jun 2022

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. dollar rose against the euro on Wednesday, helped by upbeat U.S. economic data, and as the common currency remained under pressure following the hottest euro zone inflation on record that raised worries about the region’s growth outlook. The dollar was about 0.8% higher against the …

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U.S. is ready to implement ban on Xinjiang goods on June 21

1 Jun 2022

WASHINGTON (Reuters) – U.S. authorities are ready to implement a ban on imports from China’s Xinjiang region when a law requiring it becomes enforceable later in June, a U.S. Customs official said on Wednesday, adding that a “very high” level of evidence would be required for an exemption. U.S. President Joe Biden in December signed …

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Oil rises as EU to phase in Russian oil ban, Shanghai ends lockdown

1 Jun 2022

By David Gaffen NEW YORK (Reuters) -Oil prices rose on Wednesday after European Union leaders agreed to a phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai, which could bolster demand in an already tight market. Oil benchmarks have marched steadily higher for several weeks as Russian shipments are squeezed …

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UK says Chinese buyers abandon purchase of Welsh graphene firm after security probe

1 Jun 2022

LONDON (Reuters) – Chinese investors led by Shanghai Kington Technologies have abandoned an attempt to buy Welsh company Perpetuus Group, which specialises in graphene and nanomaterials, Britain’s government said after launching a security probe. “The proposed acquisition has been abandoned,” British business minister Kwasi Kwarteng said in a statement on Twitter about the deal. “The …

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Eight automakers adopt U.S. EV fire response recommendations

1 Jun 2022

(Reuters) – Eight electric vehicle manufacturers have adopted a U.S. National Transportation Safety Board (NTSB) recommendation to improve emergency response guides and incorporate vehicle-specific information for fighting lithium-ion EV battery fires. Honda, Hyundai, Mitsubishi, Porsche, Proterra, Belgian manufacturer Van Hool, Volkswagen and Volvo have successfully completed the actions asked for in the NTSB recommendation. NTSB …

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