By Trevor Hunnicutt, Nandita Bose, Alexandra Alper (Reuters) -U.S. President Donald Trump said Nippon Steel’s $14.9 billion bid for U.S. Steel would take the form of an investment instead of a purchase on Friday, even as two sources familiar with the matter said the Japanese steel company had not withdrawn its bid. Nippon’s pursuit of …
Trump says Nippon Steel will invest in US Steel, not buy it Read More »
By Marc Jones and Sumanta Sen LONDON (Reuters) – The first central bank interest rate moves of 2025 suggest it will be a year where some important heavyweights, in both the developed and emerging parts of the world, travel in different directions for a while. Last year was the biggest coordinated global rate cut round …
Central banks grapple with uncertainty in 2025’s foggy economic landscape Read More »
(Reuters) -A group of 17 Republican state attorneys general alleged that top U.S. asset managers, including BlackRock and State Street, were making improper or inadequate disclosures about their investments in China. In a letter dated Thursday, the coalition said the companies were downplaying risks associated with China, such as its status as a “designated foreign …
Republican state attorneys scrutinize US asset managers over China funds Read More »
By Anton Bridge and Kane Wu TOKYO (Reuters) -U.S. private equity firm Bain Capital has bought Mitsubishi Tanabe Pharma in a deal worth 510 billion yen ($3.4 billion), saying it was encouraged by prospects of regulatory change for Japan’s drug industry. The Osaka-based firm has a pipeline of drugs relating to the central nervous system, …
Bain to buy Japan’s Mitsubishi Tanabe Pharma for $3.4 billion Read More »
By Aditya Kalra and Nikunj Ohri NEW DELHI (Reuters) – Kia on Friday said it is contesting an Indian tax demand of $14 million for wrongly using free trade agreements to claim lower tariffs on some electronic car part imports, the latest tax tussle between the South Korean automaker and New Delhi. Tax investigations in …
Kia contests $14 million India tax demand for wrongly using trade treaty exemptions Read More »
By Hadeel Al Sayegh, Julie Zhu and Kane Wu DUBAI/HONG KONG (Reuters) – Online fast-fashion retailer Shein is set to cut its valuation in a potential London listing to around $50 billion, said three people with knowledge of the matter, nearly a quarter less than the company’s 2023 fundraising value amid growing headwinds. The company’s …
Exclusive-Shein poised to slash valuation to $50 billion in London IPO, sources say Read More »
SHANGHAI (Reuters) – Chinese battery giant CATL (300750.SZ) is resuming operations at its lithium lepidolite mine in China’s Jiangxi province, USB said in a note on Thursday, four months after reports the company had suspended production in the area sparked a rally in lithium miners’ shares. The investment bank said in the note the mine …
Chinese battery maker CATL is resuming production at its Jiangxi mine, UBS says Read More »
SHANGHAI (Reuters) – An Alibaba executive has denied reports that the Chinese e-commerce giant intends to invest in DeepSeek, Chinese news outlet The Paper reported on Friday. The Paper cited a post that Yan Qiao, a vice president at Alibaba, made on her personal WeChat moments feed where she said “as a fellow Chinese and …
Alibaba exec says reports that it plans to invest in DeepSeek are untrue – The Paper Read More »
By Victoria Waldersee BERLIN (Reuters) – Volkswagen’s SEAT, the Spanish subsidiary of Europe’s largest carmaker, will be forced to cut output and lay off around 1,500 workers if the EU does not lower its tariff on the brand’s China-made electric car by the end of March, its CEO told Reuters. Since October, when the European …
By Michele Pek and Gabrielle Ng Singapore (Reuters) – South Korean petrochemical companies LG Chem and Lotte Chemical both made losses in 2024, dragged down by oversupply which is set to persist this year, while trade turmoil has dampened the global economic outlook, company executives said this week. Petrochemical producers in Europe and Asia have …
South Korean petrochemical firms’ profits plunge in 2024 as oversupply persists Read More »
