Reuters Asia Business

US Commerce department bureaus ban China’s DeepSeek on government devices, sources say

By Karen Freifeld (Reuters) – U.S. Commerce department bureaus informed staffers in recent weeks that Chinese artificial intelligence model DeepSeek is banned on their government devices, according to a message seen by Reuters and two people familiar with the matter. “To help keep Department of Commerce information systems safe, access to the new Chinese based …

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Korea’s Hanwha buys 9.9% stake in Australian shipbuilder Austal, filing confirms

(Reuters) – South Korean conglomerate Hanwha now owns a 9.9% stake in Australian shipbuilder Austal, an exchange filing showed on Tuesday. The company, whose A$1.02 billion ($650.96 million) takeover bid was rejected by Austal last year, has acquired 41.2 million shares in Austal at a price of A$4.45 per share, according to the filing. Reuters …

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Trading Day: Global rebound enters day two, Wall St lags

By Jamie McGeever ORLANDO, Florida (Reuters) – TRADING DAY Making sense of the forces driving global markets Global equity markets on Monday kept up the positive momentum initiated by Friday’s rebound, as investors parked their concerns over escalating global trade tensions and hoovered up cheap and beaten down stocks. Many short-term positioning and momentum indicators …

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Honda, Suzuki to join Tesla’s CO2 emissions pool for 2025

(Reuters) – Honda and Suzuki will pool carbon emissions with U.S. electric vehicle maker Tesla in 2025 to comply with European Union rules, an EU filing showed on Monday. The pool also includes Stellantis, Toyota, Ford, Mazda and Subaru, the filing shows. If not met, EU 2025 intermediate carbon reduction targets, or so-called CAFE standards, …

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Exclusive-Cobalt produced by China’s Lygend in Indonesia skirts Trump tariffs

By Pratima Desai LONDON (Reuters) – U.S. firms are buying cobalt metal produced in Indonesia by China’s Lygend Resources that does not incur the tariffs placed by the Trump administration on imports direct from China, three sources with direct knowledge of the matter said. U.S. President Donald Trump has imposed extra import tariffs on Chinese …

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Hong Kong court pulls winding-up petition against China’s Sino-Ocean

(Reuters) – State-backed Sino-Ocean Group said on Monday a Hong Kong court had ordered the dismissal of the winding-up petition against the Chinese property developer. The petition, filed by The Bank of New York Mellon’s London branch in June last year, was for the non-repayment of 3.25% guaranteed notes. The guaranteed notes, due in 2026, …

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BYD unveils new super-charging EV tech, to build charging network in China

BEIJING (Reuters) -BYD on Monday unveiled a new platform for electric vehicles (EVs) that it said could charge EVs as quickly as it takes to pump gas and announced for the first time that it would build a charging network across China. The so-called “super e-platform” will be capable of peak charging speeds of 1,000 …

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Honda to procure Toyota’s US-made batteries in tariff response, Nikkei reports

TOKYO (Reuters) – Japanese automaker Honda Motor will procure batteries for its hybrid vehicles from Toyota Motor’s plant in the United States in an effort to reduce tariff risks under the Trump administration, the Nikkei newspaper reported on Monday. From fiscal 2025, Japan’s second-biggest automaker will take in Toyota’s U.S.-made batteries for about 400,000 vehicles, …

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Property developer Sunac China warns of wider loss for 2024

(Reuters) -Property developer Sunac China said on Monday it expects to report a wider loss for the year ended December 2024. Beijing-based Sunac, once among China’s largest real estate developers, attributed the higher net loss forecast to the absence of gains that it had logged last year after the completion of its offshore debt restructuring. …

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Indonesia to issue Freeport Indonesia a six-month permit to export copper concentrate

JAKARTA (Reuters) -Indonesia will issue Freeport Indonesia a six-month permit to export copper concentrate while its smelter is repaired, which will also ensure the government continues to receive royalty payments, the energy minister said on Monday. Freeport has been seeking the permit after it was forced to stop copper cathode production at its new smelter …

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