Reuters Asia Business

By Heekyong Yang, Joyce Lee and Hyunjoo Jin SEOUL (Reuters) -Samsung Electronics on Tuesday flagged a much smaller-than-feared 0.2% fall in first-quarter operating profit, boosted by solid memory chip sales and strong smartphone demand, partly driven by customers concerned about U.S. tariffs. Sales of conventional memory chips used in consumer devices such as smartphones and …

Samsung sees Q1 profit beating estimates as looming tariffs spur chip, phone sales Read More »

ROME (Reuters) – Pirelli is having difficulties investing in the United States because its largest shareholder is China’s state-owned Sinochem, the Italian tyremaker’s executive vice chairman Marco Tronchetti Provera said in a newspaper interview on Tuesday. Pirelli’s Chinese and Italian shareholders are at odds over the group’s governance as Washington cracks down on Chinese technology …

Pirelli’s US business hindered by Sinochem’s stake, says Tronchetti Provera Read More »

By Leika Kihara TOKYO (Reuters) – Any U.S. attempt to pull off a 1985 Plaza Accord-type coordinated depreciation of the dollar likely won’t work as it would require the consent of China and Europe, Japan’s former top currency diplomat Naoyuki Shinohara said on Tuesday. Some analysts believe the Trump administration may push through a “Mar-a-Lago …

Trump won’t get ‘Plaza Accord’-type dollar deal, says ex-Japan FX diplomat Read More »

By Joyce Lee SEOUL (Reuters) -South Korea’s Hanwha Aerospace will cut the size of a planned fundraising by one-third to 2.3 trillion won ($1.6 billion) to ensure the success of the financing, and after investor and regulatory pushback, it said on Tuesday. The country’s largest defence firm had previously announced in March an equity capital …

South Korea’s Hanwha Aerospace slashes capital increase plan to $1.6 billion Read More »

By Steve Holland, Doina Chiacu, Julia Payne WASHINGTON/BRUSSELS (Reuters) -A global trade war touched off by U.S. President Donald Trump’s sweeping tariffs escalated further on Monday, as Trump threatened to increase duties on China and the European Union proposed counter-tariffs of its own. Financial markets across the globe posted a third day of losses as …

Trump threatens to hike China tariffs further as market plunge continues Read More »

(Reuters) -Fast-fashion retailer Shein is facing opposition from the Chinese government over its plans to shift some production out of the country, Bloomberg News reported on Tuesday, citing people familiar with the matter. China’s Ministry of Commerce has reached out to Shein and other companies, advising them against diversifying supply chains by sourcing from other …

China advises Shein against shifting supply chain, Bloomberg News reports Read More »