Reuters Asia Business

(Reuters) -The opening of five new Shein concession stores across France has been delayed, department store owner Societe des Grands Magasins said on Friday, as it adjusts its strategy after some shoppers found prices at the Paris store too steep. The online fast-fashion retailer’s first physical shop opened at the SGM-owned BHV department store in …

Shein openings across France delayed after shoppers balked at Paris store prices Read More »

By David Lawder and Ben Blanchard WASHINGTON/TAIPEI (Reuters) -The U.S. Treasury and Taiwan’s central bank on Friday said they agreed to continue close consultations on macroeconomic and foreign exchange rate matters and both pledged to avoid manipulating the value of their currencies to gain a competitive advantage. In a joint statement issued by the U.S. …

US Treasury, Taiwan reaffirm pledges against currency manipulation Read More »

BEIJING (Reuters) -China’s cabinet pledged on Friday to boost consumption by better aligning supply with demand and relying on consumption upgrades to drive industrial upgrades, according to a meeting readout aired by state broadcaster CCTV. The cabinet also said it would create a favourable environment for consumption, and improve consumer finance products and services. Chinese …

China vows to boost consumption, better balance demand and supply Read More »

BEIJING (Reuters) -China will strengthen oversight of used-car exports and strictly control the export of new cars under the guise of used vehicles, according to a notice issued by the country’s commerce ministry on Friday. From the start of next year, vehicles that apply to be exported less than 180 days after they were registered …

China to tighten oversight on new cars exported as used vehicles Read More »

(Reuters) -China’s BYD has told some suppliers it wants to stop using in-house financial notes to pay them, people briefed on the matter said – a seismic shift away from a practice that helped power its rise but has been criticised for disadvantaging its parts makers. BYD, one of the world’s biggest electric vehicle makers, …

BYD shifts away from in-house payment system that strained suppliers, sources say Read More »

TOKYO (Reuters) -S&P Global Ratings said on Friday it has downgraded its rating of Nissan Motor’s credit by one notch on continuing pressure on its profitability, while taking a negative view of the outlook for the Japanese automaker. The credit-rating firm cut its long-term rating on the company and its overseas subsidiaries to “BB-” from …

S&P lowers Nissan’s rating to BB- from BB Read More »