(Reuters) -Canadian retailer Alimentation Couche-Tard withdrew its $46-billion takeover offer for Japan’s Seven & i Holdings, blaming a lack of constructive engagement by the Japanese retailer. The deal for the operator of 7-Eleven “konbini” stores would have been the biggest foreign buyout of a Japanese company. Here is a timeline of the bid: AUGUST 19, …
Couche-Tard pulls $46 billion bid for Japan’s Seven & i Read More »
By Amy Lv and Lewis Jackson BEIJING (Reuters) -Lithium futures in China climbed on Thursday to a nearly three-month high after a production halt at a major lithium producer boosted sentiment for the electric vehicle battery material. Miner Zangge Mining said in an exchange filing that it had halted lithium production at a mine in …
China lithium futures near 3-month high after Zangge announces production halt Read More »
By Selena Li and Sneha Kumar (Reuters) -The Hong Kong arm of China’s second-largest fund firm China Asset Management (ChinaAMC) rolled out on Thursday the world’s first renminbi-denominated tokenised money fund. This is the first tokenised money market product giving exposure to renminbi-denominated assets, after rising demand for similar products based on U.S. dollar funds. …
China’s second-largest fund house launches world’s first renminbi tokenised money fund Read More »
By Amy Lv and Lewis Jackson BEIJING (Reuters) -Chinese miner Zangge Mining said on Thursday it had halted lithium production at a unit in Qinghai province on orders from local officials, sending lithium prices up more than 4% in afternoon trading. The miner, controlled by state-owned giant Zijin Mining, received a notice from Haixi prefecture …
Chinese miner Zangge halts lithium production at subsidiary after govt order Read More »
TAIPEI (Reuters) -TSMC, the world’s largest contract chipmaker, posted a 60.7% jump in second-quarter net profit on Thursday, beating market forecasts and hitting a historic high as it benefited from surging demand for semiconductors used in artificial intelligence applications. Taiwan Semiconductor Manufacturing Co, whose customers include Apple and Nvidia, saw April-June net profit rise to …
TSMC Q2 profit surges 60%, reaches historic high Read More »
COPENHAGEN (Reuters) -Norwegian salmon farming group Grieg Seafood said on Thursday it had agreed to sell its operations in Norway’s Finnmark and in Canada to Mitsubishi unit Cermaq for 10.2 billion crowns ($993 million). “The sale allows Grieg Seafood to concentrate its focus on the Rogaland region in Western Norway,” it said in a statement. …
Grieg Seafood sells Finnmark, Canada units to Mitsubishi’s Cermaq for $993 million Read More »
(Reuters) -Chinese steelmakers are bypassing tariffs in countries such as Indonesia and Turkey by exporting semi-finished products, a tactic that undermines barriers against a flood of cheap Chinese metal and is raising concern in Beijing over the surge in lower-value exports, industry sources said. Record steel exports from the world’s largest producer have sparked a …
Chinese steel companies find new tariff workaround: steel billet Read More »
SINGAPORE (Reuters) -Singapore’s non-oil domestic exports rose 13.0% in June from the same month a year earlier, government data showed on Thursday, outpacing analysts’ estimates as shipments of computers, integrated circuits and non-monetary gold rose significantly. The rise compared with a Reuters poll forecast for annual growth of 5.0%, and followed a revised 3.9% fall …
Singapore’s exports rise 13% anually in June, stronger than forecast Read More »
By Kiyoshi Takenaka TOKYO (Reuters) -More than two-thirds of Japanese firms believe the government should compile an extra budget later this year to mitigate the impact of U.S. President Donald Trump’s new tariffs and rising prices, a Reuters survey showed on Thursday. Trump informed Japanese Prime Minister Shigeru Ishiba last week of a 25% tariff …
Most Japan firms want extra budget as Trump tariffs loom, Reuters poll shows Read More »
By Marie Mannes STOCKHOLM (Reuters) -Volvo Cars said it has scaled back its U.S. model lineup this year, among the first examples of a major automaker halting U.S. shipments as President Donald Trump’s tariffs make it harder to sell a broad range of vehicles profitably. The Swedish carmaker, which is owned by China’s Geely Holding, …
Volvo Cars pauses sales of some cars in US as tariffs pinch profits Read More »
