By Stephen Nellis SAN FRANCISCO (Reuters) -A U.S. lawmaker on Thursday pressed the U.S. Defense Department for further details on what information the U.S. military shared with Chinese engineers as part of a cloud computing services contract with Microsoft. After a report by investigative journalism publication ProPublica, Microsoft last week said it has ended the practice …
BASRA, Iraq (Reuters) -PowerChina has won a contract worth around $4 billion to build Iraq’s first large-scale seawater desalination plant in the southern city of Basra, in partnership with an Iraqi company, officials said on Thursday. Iraqi Prime Minister Mohammed Shia al-Sudani inaugurated the project, which will have a daily capacity of 1 million cubic …
PowerChina wins $4 billion contract for Iraqi water desalination plant, sources say Read More »
By Summer Zhen HONG KONG (Reuters) -Hedge funds focused on Chinese equities posted double-digit returns in the first half of the year, outperforming global peers, fuelled by a rebound in Hong Kong stocks and bets on artificial intelligence and “new consumption” firms. Some fund managers said their more agile use of hedging tools also helped …
Chinese stock pickers lead global hedge fund gains as markets swing Read More »
By Kane Wu and Heekyong Yang HONG KONG/SEOUL (Reuters) -Toss, a popular South Korean app that provides banking and a host of other financial services, aims to list in the U.S. in the second quarter of 2026 with a valuation of more than $10 billion, said two people with knowledge of the plans. Assuming market …
TOKYO (Reuters) -Japanese electric motor maker Nidec reported on Thursday 61.45 billion yen ($420.60 million) in preliminary first-quarter operating profit, up 2.3% from the year-earlier period. The result for the quarter ended June compared with an estimate of 60.18 billion yen in average profit from a survey of six analysts by LSEG. The Kyoto-based firm …
Japan’s Nidec posts rise of 2.3% in first-quarter operating profit Read More »
(Reuters) -China is taking steps to build a network to sell computing power and curb the unwieldy growth of data centres after thousands of local government-backed centres that sprouted in the country caused a capacity glut and threatened their viability. The state planner is conducting a nationwide assessment of the sector after a three-year data …
China plans network to sell surplus computing power in crackdown on data centre glut Read More »
MANILA (Reuters) -The Philippines has not removed tariffs on imports from the United States of corn, rice, sugar, fish, pork, and chicken, a senior economic and trade adviser to President Ferdinand Marcos Jr. said on Thursday. Frederick Go, Special Assistant to the President for Investment and Economic Affairs, said in a briefing that the details …
Philippines says U.S. will still pay tariffs on rice, corn and other farm products Read More »
By Amy Lv and Lewis Jackson BEIJING (Reuters) -China’s gold consumption in the first half of 2025 declined at a slower pace, as strong safe-haven demand partly offset dwindling appetite for jewellery purchases amid persistently high prices of the precious metal. Gold buying in the first six months slipped 3.54% year-on-year to 505.205 metric tons, …
China H1 gold consumption falls at slower pace on strong safe-haven demand Read More »
By Nora Eckert and David Shepardson DETROIT (Reuters) -Shares of General Motors, Ford Motor, and Jeep-maker Stellantis, some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars, as investors saw it as a sign of more deals to come. But the …
Japan trade deal sparks hope for US investors, frustration for automakers Read More »
BANGKOK (Reuters) -Car production in Thailand rose for a second straight month in June, up 11.98% from a year earlier to 130,223 units, the Federation of Thai Industries said on Thursday. The increase followed a year-on-year rise of 10.32% in May. Thailand is Southeast Asia’s biggest auto production centre and an export base for some …
