SHANGHAI (Reuters) – China cut benchmark lending rates for the first time since October on Tuesday, after Beijing announced sweeping monetary easing measures earlier this month to support the broad economy. The one-year loan prime rate (LPR) was lowered by 10 basis points to 3.0% from 3.1% previously, while the five-year LPR was reduced by …
China lowers benchmark lending rates for first time since October Read More »
By Rahul Trivedi BENGALURU (Reuters) -Bank Indonesia (BI) will resume its easing cycle on Wednesday with a quarter-point interest rate cut as the rupiah’s recent strength gives the central bank room to focus on supporting economic growth, a Reuters poll of economists found. Southeast Asia’s largest economy grew 4.87% last quarter, its slowest pace in …
Bank Indonesia to cut rates on May 21 as rupiah stabilises Read More »
By Kalea Hall DETROIT (Reuters) – General Motors late last week informed employees and dealers for its China export business it would stop shipping vehicles to China from the United States, the company said. The move comes as the United States and China continue discussions on tariffs and other trade issues. GM imported vehicles to …
GM to stop exporting vehicles from US to China, company says Read More »
By Saqib Iqbal Ahmed, Laura Matthews NEW YORK (Reuters) -Trade-related uncertainties, ballooning fiscal debt and weakened confidence about enduring U.S. exceptionalism have weighed on U.S. assets, with the dollar one casualty. Investors see the currency losing more of its luster as the greenback comes back to earth from lofty valuations. The Trump administration’s tariffs salvo …
Analysis-Dollar set for more weakness as ‘Brand USA’ falls further out of favor Read More »
By Max A. Cherney and Wen-Yee Lee TAIPEI (Reuters) -Nvidia plans to sell a technology that will tie chips together to speed up the chip-to-chip communication needed to build and deploy artificial intelligence tools, it said on Monday. The company launched a new version of its NVLink tech called NVLink Fusion that it will sell …
Nvidia plans to sell tech to speed AI chip communication Read More »
By Nora Eckert, David Shepardson DETROIT (Reuters) -Subaru of America is hiking prices on several models, the company said on Monday, the latest automaker to pass along cost increases to consumers as their expenses rise from the Trump administration’s tariffs. Subaru said in a statement that the increases were made in response to “current market …
Exclusive-Subaru of America increases vehicle prices, citing market conditions Read More »
TOKYO (Reuters) -Japan’s Yoshinoya said on Monday it was betting on ramen noodles for its next phase of growth, looking to turn it into a third business pillar along with ‘gyudon’ beef bowls and udon noodles. Announcing a growth plan for the next five years, the fast-food chain operator best known for its gyudon, or …
Japan’s Yoshinoya bets big on ramen noodles for next phase of expansion Read More »
BEIJING (Reuters) -China on Monday urged the United States to “immediately correct its wrongdoings” and stop “discriminatory” measures after the U.S. issued guidance warning companies not to use advanced computer chips from China, including Huawei’s Ascend AI chips. The U.S. action seriously undermined consensus reached at the high-level bilateral talks in Geneva, a statement from …
China urges US to correct ‘wrongdoings’ on AI chip curb Read More »
JAKARTA (Reuters) – The Indonesian Attorney General’s Office has approached a number of trading firms in Singapore regarding a corruption investigation involving state energy firm Pertamina, it said on Monday. A number of executives at subsidiaries of Pertamina were arrested earlier this year for alleged corruption related to oil imports between 2018 and 2023 that …
Indonesia approaches trading firms in Singapore in Pertamina investigation Read More »
By Hongmei Li, Pratima Desai and Lewis Jackson HONG KONG/LONDON (Reuters) – The Shanghai Futures Exchange (ShFE) is considering opening its domestic nickel futures contract to foreign investors this year, instead of launching a separate contract on its International Energy Exchange (INE), two sources with knowledge of the matter said. ShFE has been exploring a …
