Reuters Asia Business

SHANGHAI (Reuters) – Chinese battery maker CATL said on Thursday that it would gradually implement battery price rises in the second quarter as it had almost completed negotiations with customers on such adjustments due to soaring material costs. China’s measures to battle COVID-19 outbreaks is having little impact on production or demand for its batteries, …

Chinese battery giant CATL plans battery price changes in second quarter Read More »

By Gaurav Dogra (Reuters) – Asian equities saw massive foreign capital outflows in April on expectations of a hawkish policy by the U.S. Federal Reserve and concerns over the impact of China’s lockdowns on regional growth. Overseas investors offloaded Asian equities worth $14.22 billion in their fourth straight month of net selling, Refinitiv data for …

Asian equities see large outflows for fourth straight month Read More »

BEIJING (Reuters) -Chinese travellers spent 43% less over the five-day Labour Day holiday that ended on Wednesday than a year earlier, government data showed, as tightening COVID-19 prevention measures being rolled out across the country hit consumption. The Ministry of Culture and Tourism said on Wednesday that Chinese domestic travel revenue tumbled to 64.7 billion …

China sees spending, travel tumble during COVID-hit Labour Day holiday Read More »

SHANGHAI (Reuters) – Three of China’s most prominent electric-car makers posted a steep drop in April sales after strict measures to combat COVID-19 disrupted production and deliveries, dampening one of the world’s fastest-growing markets for the vehicles. Xpeng Inc, NIO Inc and Li Auto Inc plunged by 41.6%, 49% and 62% respectively in April versus …

Chinese EV makers post weaker April sales on COVID-related disruptions Read More »

By Karen Brettell NEW YORK (Reuters) – The dollar fell to a one-week low against a basket of currencies on Wednesday after Federal Reserve Chairman Jerome Powell played down the prospect of a 75 basis point rate hike, even as he said the U.S. central bank will act aggressively to stamp out inflation. Powell said …

Dollar falls to one-week low as Powell pushes back against 75 bp hike Read More »

By Foo Yun Chee BRUSSELS (Reuters) – EU countries and lawmakers will on Thursday kick off discussions on a European Commission plan targeting foreign state-backed buyers of European companies amid fears of a Chinese buying spree. The 27-country bloc fears Chinese companies reinforced with state funding may acquire European firms whose share prices have been …

EU plan to curb foreign state-backed buyers picks up pace Read More »