By Marie Mannes STOCKHOLM, Dec 10 (Reuters) – Leaders from across Europe’s electric car industry on Wednesday urged the European Commission to stick to its 2035 zero-emission target for new cars, warning that any retreat would undermine investment and widen the bloc’s gap with China. The EU executive is set to unveil an automotive package …
Europe’s EV sector warns about ‘efforts to dilute’ EU emissions targets Read More »
By Joyce Lee and Hyunjoo Jin SEOUL, Dec 10 (Reuters) – South Korea is considering building a 4.5 trillion won ($3.06 billion) foundry to make essential chips, funded by state and private investment, part of efforts to gain an edge in a race to nurture local semiconductor firms as demand for AI chips grows. President …
South Korea to consider setting up $3.1 billion foundry to grow local chip sector Read More »
By Shubham Kalia and Anusha Shah Dec 9 (Reuters) – U.S. lawmaker John Moolenaar, the chair of the U.S. House of Representatives’ bipartisan select committee focused on China, on Tuesday raised concerns about mining group Ivanhoe Atlantic’s alleged ties with the Chinese Communist Party. “I am writing to bring to your attention information about companies …
US lawmaker raises concerns about miner Ivanhoe Atlantic’s ties with China Read More »
By Makiko Yamazaki, Miho Uranaka and Tomo Uetake TOKYO, Dec 10 (Reuters) – Markets are increasingly worried about Japan’s “tail risk” of slipping into a negative spiral, where monetary tightening lags inflation and a weak yen pushes prices higher, the markets chief at top lender Mitsubishi UFJ Financial Group said. Markets have priced in a …
Markets anxious over Japan’s risk of ‘negative spiral,’ top bank MUFG exec says Read More »
By Kane Wu, Yantoultra Ngui and Miho Uranaka TOKYO/HONG KONG, Dec 10 (Reuters) – Private equity firm CVC Capital Partners is seeking a sale of FineToday Holdings, the Japanese personal-care company behind the Tsubaki shampoo brand, after shelving plans to list it in Tokyo, said four sources with knowledge of the matter. FineToday, which counts …
CVC plans sale of Japan’s FineToday after scrapped IPO, sources say Read More »
SEOUL, Dec 10 (Reuters) – A board member of South Korea’s central bank said on Wednesday foreign exchange authorities need to take action to curb the won’s decline against the dollar, as it may reignite inflationary pressure and weaken retail purchasing power. “As forex authorities, we can’t sit and do nothing about this high FX …
Bank of Korea board member says ‘can’t sit and do nothing’ about a weaker won Read More »
By Francesco Guarascio HANOI, Dec 10 (Reuters) – Chinese firms are expanding in Vietnam, leading investment inflows and sending record shipments to Hanoi in defiance of U.S. calls for decoupling, as the Communist neighbours beef up ties. Recent steps that Hanoi had long resisted on security grounds include sensitive tech contracts for Chinese telecoms firms …
How China Inc is marching into Vietnam amid US tariffs Read More »
Dec 10 (Reuters) – Australia’s St Barbara said on Wednesday that Chinese gold producer Lingbao Gold Group will buy a 50% stake in its subsidiary St Barbara Mining for A$370 million ($245.5 million) in cash. St Barbara Mining owns the Simberi Gold Company, which will hold an 80% stake in Simberi Gold Project in Papua …
HK-listed Lingbao Gold to buy 50% of Australia’s St Barbara unit for $245.5 million Read More »
By Laurie Chen BEIJING, Dec 10 (Reuters) – European firms are accelerating efforts to diversify away from Chinese supply chains as Beijing’s self-reliance drive and export controls deepen global trade uncertainty, the European Union Chamber of Commerce in China said on Wednesday. China’s trade surplus topped $1 trillion for the first time in November, as …
EU firms in China accelerating supply chain diversification, report finds Read More »
Dec 10 (Reuters) – Singapore’s Olam Group said on Wednesday its unit olam food ingredients (ofi) had secured a multi-tranche dual currency term loan facility aggregating $1.12 billion. The facility, consisting of two U.S. dollar tranches of $775 million in total and a tranche of 2.42 billion yuan ($342.68 million), would be transferred to the …
Singapore’s Olam Group says unit secures $1.12 billion dual currency loan Read More »
