Reuters Asia Business

Crypto collapse intensifies as stablecoin Tether slides below dollar peg

12 May 2022

By Elizabeth Howcroft, Gertrude Chavez-Dreyfuss and Hannah Lang LONDON/NEW YORK (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, rippled through cryptocurrency markets on Thursday, pushing another major stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off in risk assets, which …

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Global growth worries send dollar to new 20-yr high

12 May 2022

By Chuck Mikolajczak NEW YORK (Reuters) – The dollar climbed to a fresh 20-year high on Thursday as concerns persisted that central bank actions to drive down high inflation would crimp global economic growth, boosting the currency’s safe-haven appeal. Data from the Labor Department showed weekly initial jobless claims rose to their highest level in …

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Analysis-Jetmakers’ inflation shield no match for soaring costs

12 May 2022

By Tim Hepher DUBLIN (Reuters) – Inflation clauses that determine how much airlines pay for new jets have jumped into a “hyper-escalation” band, pushing up aircraft prices but still leaving manufacturers unable to fully pass on their soaring costs, industry executives told Reuters. The hike to the top inflationary band is a rare move in …

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Nissan warns of flat profit as chip shortage becomes ‘new normal’

12 May 2022

By Satoshi Sugiyama TOKYO (Reuters) -Nissan Motor Co expects flat operating profits this fiscal year, far below analysts’ expectations, as Japan’s third-biggest carmaker grapples with a global chip shortage, rising material costs and China’s COVID restrictions. Nissan joins a growing list of global companies warning about worsening profitability as they cannot fully pass on soaring …

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HSBC launches $1 billion lending fund for female entrepreneurs

12 May 2022

SINGAPORE (Reuters) -HSBC Holdings said on Thursday it was launching a $1 billion lending fund to invest in female-owned businesses over the next 12 months. “The level of funding received over time by female-led businesses is significantly lower than male counterparts, while the recent impacts of the pandemic have seen these same businesses disproportionately affected,” …

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SoftBank’s Vision Fund posts record $26 billion loss as tech stocks slump

12 May 2022

By Sam Nussey TOKYO (Reuters) -Japan’s SoftBank Group Corp reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability have whiplashed high-growth tech stocks. The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, and it put …

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China scrutiny stymies JD.Com fintech unit’s $2 billion Hong Kong IPO – sources

12 May 2022

By Julie Zhu and Scott Murdoch HONG KONG (Reuters) – JD Technology, the fintech arm of Chinese e-commerce company JD.Com, has been forced to delay an up to $2 billion Hong Kong IPO because domestic regulatory approval for the listing has not been forthcoming, said four people with knowledge of the matter. The financial technology, …

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