By Jack Kim SEOUL (Reuters) -A major fire at South Korea’s national data centre has crippled some government online services and internal networks, prompting a race on Saturday to bring the systems back online and a probe of what sparked a lithium-ion battery to start the blaze. The fire is suspected to have started with …
South Korea scrambles to restore services after major state data centre fire Read More »
By Mike Scarcella (Reuters) -A U.S. judge on Friday rejected a bid by China-based DJI, the world’s largest drone maker, to be removed from the U.S. Defense Department’s list of companies allegedly working with Beijing’s military. In his ruling, U.S. District Judge Paul Friedman in Washington, D.C., said the Defense Department had substantial evidence supporting …
(Reuters) -SoftBank Group and Ark Investment Management are among potential investors in a funding round for stablecoin issuer Tether, Bloomberg News reported on Friday. The two investors are among several high-profile backers in early talks to fund the world’s largest stablecoin issuer in its biggest search for capital, the report said, citing people familiar with …
SoftBank, Ark in talks to join Tether major funding round, Bloomberg News reports Read More »
(Reuters) -TikTok’s China-based owner ByteDance will maintain ownership of TikTok’s U.S. business operations and will cede control of the app’s data, content and algorithm to the newly formed joint venture, three sources familiar with the matter said. ByteDance’s bigger-than-expected role in the new TikTok entity lays out the continued and significant involvement of the China-based …
ByteDance expected to maintain big role in new US TikTok, sources say Read More »
WASHINGTON (Reuters) -The chair of the House Select Committee on China said Friday he will conduct full oversight over a deal for Chinese-based ByteDance to sell U.S. assets of short video app TikTok that was approved by President Donald under a 2024 law. “The law also set firm guardrails that prohibit cooperation between ByteDance and …
US House lawmaker vows full oversight, hearing on TikTok sale deal Read More »
SHANGHAI (Reuters) -U.S. President Donald Trump on Thursday unveiled a 100% tariff on imports of branded drugs from October 1, unless their producers had already broken ground on U.S. manufacturing plants. The European Union and Japan expressed confidence on Friday that they had secured limits on U.S. tariffs on pharmaceuticals. Below are some of the patented medicines from Asian …
Factbox-Asian and European drugmakers’ branded drugs imported to the US market Read More »
BEIJING (Reuters) -China will require export licences for electric cars from next year, the commerce ministry said on Friday, as it moves to curtail unfair competition from unregulated traders and safeguard the reputation of Chinese auto brands overseas. Sellers of EVs will be required to follow existing rules that permit only automakers and their authorised …
China to require EV export permits to safeguard Chinese brand image overseas Read More »
(Reuters) -Miniso said on Friday it will spin off its brand Top Toy and list it in Hong Kong, riding a wave of investor enthusiasm for Chinese toymakers and highlighting the city’s renewed status as a global fundraising hotspot. UBS, JP Morgan, and CLSA are overall coordinators of Top Toy’s initial public offering, Guangzhou-based Miniso …
Miniso to spin off Top Toy, list it in Hong Kong Read More »
(Reuters) -Chinese autonomous driving developer Momenta is considering shifting its IPO to Hong Kong from New York, four people said, adding to a growing list of Chinese companies opting to debut in the Asian financial hub amid heightened U.S.-China tensions. The potential change in Momenta’s listing venue comes after the expiration in June of an …
China’s Momenta considers shifting IPO to Hong Kong from New York, sources say Read More »
SEOUL/TOKYO (Reuters) -U.S. President Donald Trump insisted that South Korea would provide billions of dollars in investments “upfront”, despite Seoul’s contention that it would be plunged into a financial crisis if it met the U.S. demands without safeguards. Trump’s remarks contradict South Korea’s understanding of its trade deal with the United States, however, a government …
Trump says South Korea, Japan will pay billions ‘upfront’ in investment Read More »
