By Jamie McGeever ORLANDO, Florida (Reuters) -The tech-induced selloff across global stocks accelerated on Tuesday and soft U.S. labor market indicators also weighed on Wall Street, while fiscal worries in Japan helped drag Japanese stocks, bonds and the yen lower. More on that below. In my column today I look at what helped trigger this …
Trading Day: Stock selloff snowballs, Japan wobbles Read More »
(Corrects paragraph 18 to say that unit sales in overall holiday spending may fall by as much as 2.5%, not that the figure applies just to toys) By Jessica DiNapoli NEW YORK (Reuters) -While U.S. consumers keep searching for an authentic Pop Mart Labubu, rivals are introducing their own cheaper, easier-to-find “blind box” products for …
Toy makers rush into ‘blind box’ trend for holidays following Labubu craze Read More »
(Reuters) -Freeport-McMoRan said on Tuesday it plans to restore production at Indonesia’s Grasberg copper and gold mine by July after a fatal incident forced operations to halt two months ago. Seven workers were killed when roughly 800,000 metric tons of wet mud flooded the Grasberg Block Cave, one of the mines at the complex, on …
After deadly accident, Freeport aims to restart Grasberg copper production by July Read More »
SEOUL (Reuters) -The International Centre for Settlement of Investment Disputes (ICSID) has nullified its 2022 order that the South Korean government pay damages of $216.5 million plus interest to Lone Star Funds over the U.S. firm’s sale of Korea Exchange Bank, Prime Minister Kim Min-seok said on Tuesday. The tribunal also ordered Lone Star Funds …
South Korean government wins case to nullify fine over Lone Star Funds dispute Read More »
(Reuters) -Honda is recalling 256,603 Accord hybrid vehicles in the United States over a software error that may cause a potential loss of drive power, the U.S. National Highway Traffic Safety Administration said on Tuesday. Parts of the vehicle’s internal software may restart while driving, causing a potential loss of control, the NHTSA said. Dealers …
Honda to recall over 256,000 US vehicles over software error, NHTSA says Read More »
By Clare Jim HONG KONG (Reuters) -Embattled New World Development said on Tuesday it expected $1.3 billion of its debt, majority of it being perpetual bonds, to be cut after setting an early deadline for its dollar bond exchange offer. The firm, a major property developer in Hong Kong and the most indebted in the …
By Liam Mo and Zaheer Kachwala BEIJING (Reuters) -Chinese search engine Baidu reported a 7% fall in quarterly revenue on Tuesday, dragged down by its advertising business amid sluggish demand, although its cloud division posted strong growth. The company reported total revenue of 31.17 billion yuan ($4.38 billion)，compared with estimates of 30.7 billion yuan, according …
Baidu’s third-quarter revenue falls 7% as ad slump offsets cloud growth Read More »
By Deborah Mary Sophia and Casey Hall (Reuters) -China’s PDD Holdings beat forecasts on Tuesday with a 14% rise in third-quarter adjusted earnings, a sign that the e-commerce group’s steep discounts and heavy marketing spending bolstered demand in its home market. Adjusted earnings per share of 21.08 yuan ($2.97) topped analysts’ average forecast of 16.84 …
Temu-owner PDD Holdings beats profit expectations, outlook uncertain Read More »
By Liz Lee and John Geddie BEIJING/TOKYO (Reuters) -Japan has warned its citizens in China to step up safety precautions and avoid crowded places, amid a deepening dispute between Asia’s two largest economies over Japanese Prime Minister Sanae Takaichi’s comments on Taiwan. Takaichi sparked the most serious diplomatic clash in years when she told Japanese …
Japan warns citizens in China about safety as diplomatic crisis deepens Read More »
By Che Pan and Brenda Goh BEIJING (Reuters) -China’s Xiaomi warned on Tuesday that consumers were likely to see further hikes in smartphone prices next year due to soaring costs of memory chips while acknowledging such a measure would not fully offset the costs. Global memory chip prices are climbing due to surging demand for units …
Xiaomi warns of higher smartphone prices due to surging memory chip costs Read More »
