Reuters Asia Business

BEIJING (Reuters) – China’s factory activity slowed at the start of the second quarter, with a sharp fall in new export orders and the resumption of employment declines, a private-sector survey showed on Wednesday. The survey shows U.S. tariffs beginning to ripple through to China’s sprawling manufacturing industry as Beijing holds off on fresh stimulus, …

China’s factory activity slows as US tariffs hit export orders Read More »

BEIJING (Reuters) -China’s manufacturing activity contracted in April, an official survey showed on Wednesday, reversing two months of recovery and keeping alive calls for further stimulus as Donald Trump’s 145% tariffs called time on producers front-loading shipments. The official purchasing managers’ index (PMI) fell to 49.0 in April versus 50.5 in March, below the 50-mark …

China’s manufacturing activity falls in April, PMI shows Read More »

SEOUL (Reuters) -South Korean battery maker LG Energy Solution (LGES) on Wednesday posted a 138% rise in first-quarter profit, as favourable foreign exchange rates helped cushion the impact of slowing electric vehicle sales growth in major overseas markets. LGES, whose customers include Tesla, General Motors and Hyundai Motor, reported operating profit of 375 billion won …

LG Energy Solution Q1 profit soars 138% as weak currency offsets EV slowdown Read More »

By Marwa Rashad, Curtis Williams and Emily Chow (Reuters) -Malaysian state-owned oil and gas firm Petroliam Nasional, or Petronas, is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company’s facility in Cameron, Louisiana, according to four trading and industry sources with knowledge of the matter. Petronas is in talks to …

Malaysia’s Petronas and Commonwealth LNG in talks for term supply, say sources Read More »

(Reuters) -Hong Kong-based insurer AIA Group reported a 13% rise in its first-quarter value of new business (VONB) on Wednesday, bolstered by its regional unit, which saw strong demand from local customers and visitors from Mainland China. Chinese investors, facing limited domestic options and a weakening yuan, are increasingly turning to offshore insurance policies as …

Insurer AIA Group’s value of new business jumps on strong Hong Kong sales Read More »

By Max A. Cherney and Stephen Nellis SAN JOSE, California (Reuters) -Intel said on Tuesday that several of its contract manufacturing customers planned to build test chips for a forthcoming advanced manufacturing process, which the company still has in development. The embattled chipmaker indicated it had received interest from customers at its Direct Connect conference …

Intel attracts interest for test chips using new manufacturing process Read More »

SHANGHAI/SINGAPORE (Reuters) -As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher U.S. tariffs, the People’s Bank of China was seizing a moment of confusion and disruption in global trade to promote greater usage of the yuan.  It won’t de-throne the dollar, but as cross-border yuan payments surged to …

China ramps up global yuan push, seizing on retreating dollar Read More »

By Stephen Culp NEW YORK (Reuters) -Wall Street stocks advanced on Tuesday while crude and gold prices slid as investors juggled corporate earnings, signs of progress in U.S. President Donald Trump’s tariff negotiations, and increased odds of a global recession. All three major U.S. stock indexes were modestly higher, with the blue-chip Dow out front. …

US stocks close higher; oil drops amid recession fears, trade talks Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The U.S. dollar advanced on Tuesday, lifted by the Trump administration’s plan to ease the impact of auto duties on local car manufacturers as well as the prospect of more tariff deals with some trading partners. The greenback also benefited from month-end buying, as investors sought to rebalance their …

US dollar regains poise on easing trade worries, month-end buying Read More »