Reuters Asia Business

Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says

22 May 2025

MILAN (Reuters) -The family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing , has agreed to buy a building in Milan for about 300 million euros ($339 million), a source close to the matter said on Thursday. Yanai, Japan’s richest man, is buying the building from U.S. property …

Japanese tycoon Yanai buys Uniqlo building in Milan for $339 million, source says Read More »

China’s Xiaomi to start selling YU7 in July, a rival to Tesla’s Model Y

22 May 2025

By Qiaoyi Li, Che Pan and Brenda Goh BEIJING (Reuters) – Xiaomi will start selling its YU7 electric vehicle, in July, founder and CEO Lei Jun said on Thursday, disclosing the launch date of an SUV analysts say will be the strongest rival in China to Tesla’s best-selling Model Y. The world’s third-largest smartphone maker, …

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China’s BYD outsells Tesla in Europe for first time, report says

22 May 2025

(Reuters) -Chinese automaker BYD sold more electric vehicles in Europe than Tesla for the first time, according to a report by JATO Dynamics, as an aging model lineup and CEO Elon Musk’s politics hurt demand for the U.S. EV maker’s cars. BYD, which also makes plug-in hybrid vehicles, registered 7,231 battery-powered electric vehicles (BEV) in …

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China lodges complaint with EU over Russia-related sanctions on its firms

22 May 2025

BEIJING (Reuters) -The Chinese Mission to the EU said on Thursday that it had lodged solemn representation with the EU over its Russia-related sanctions on Chinese firms. China is “strongly dissatisfied and firmly opposed” the EU move, a spokesperson for the mission was quoted as saying in a statement published on its website, urging the …

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France’s Macron, China’s Xi agree to advance on cognac trade dispute

22 May 2025

PARIS (Reuters) -French President Emmanuel Macron and China’s President Xi Jinping agreed in a phone call to advance as quickly as possible towards ending a dispute over cognac tariffs, Macron wrote in a post on social media platform X on Thursday. Macron, who spoke to Xi ahead of his trip to Southeast Asia starting on …

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Function over flash: Specialized robots attract billions with efficient task handling

22 May 2025

By Akash Sriram (Reuters) -These robots don’t break into a jig or jump, but their ability to do single tasks cheaply and efficiently is attracting investor dollars as focus shifts to function from flash. Far from the sleek humanoids of science fiction that are meant for complex and adaptive work, boxy and utilitarian robots – …

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Neo Performance Materials exits separation facilities in China

22 May 2025

(Reuters) -Neo Performance Materials said on Thursday it has exited its China separation facilities, as the Canadian rare earths company aims to reduce geopolitical risk and price volatility while expanding in Europe and North America. The exit concludes a strategic review it launched last year. The company said it sold its majority stakes in two …

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Nearly 75% of Country Garden bondholders back offshore debt overhaul plan, Bloomberg News reports

22 May 2025

(Reuters) -Embattled Chinese property developer Country Garden has secured support from nearly 75% of bondholders for a plan to restructure its offshore debt, Bloomberg News reported on Thursday. The company defaulted on its offshore debt in late 2023 and has since proposed to restructure its obligations by eliminating 78% of about $14.1 billion of its …

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Thai ex-PM Yingluck ordered to pay $305 million in damages over rice scheme

22 May 2025

BANGKOK (Reuters) -A Thai court on Thursday ordered self-exiled former premier Yingluck Shinawatra to pay 10 billion baht ($305 million) in damages over a botched rice pledging scheme that saw her sentenced in 2017 to five years in prison for negligence.  Yingluck, one of four members of the billionaire Shinawatra family to have served as …

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Mercuria signs long-term LNG deal with China’s Guangzhou Gas

22 May 2025

(Reuters) – Mercuria Energy Trading, a subsidiary of Switzerland-based commodities trader Mercuria, has signed a long-term liquefied natural gas (LNG) sales and purchase agreement with China’s Guangzhou Gas Group Co. The deal, formalised during the 29th World Gas Conference in Beijing, will start in 2026 with Mercuria supplying Guangzhou Gas with 400 kilotons (kt) a …

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