Reuters Asia Business

MANILA (Reuters) -Philippine annual inflation quickened for a third straight month in December due to the faster pace of increases in food and utility costs, the statistics agency said on Tuesday. The consumer price index (CPI) rose 2.9% in December, higher than the 2.6% forecast in a Reuters poll, and was above the previous month’s …

Philippine annual inflation quickens to 2.9% in December Read More »

By Alexandra Alper, Aatreyee Dasgupta and Yuka Obayashi WASHINGTON (Reuters) -U.S. President Joe Biden unlawfully blocked Nippon Steel’s $14.9 billion bid for U.S. Steel through a sham national security review, the companies alleged in a lawsuit filed on Monday. The companies want a federal appeals court to overturn Biden’s decision to scuttle the deal so …

U.S. Steel, Nippon sue Biden administration over decision to block merger Read More »

By Juby Babu and Kantaro Komiya (Reuters) -A Toyota research unit will invest in Japanese startup Interstellar Technologies (IST) to support mass production of its rockets, the world’s biggest carmaker group said on Tuesday, expanding its foray into the space sector. IST said that Woven by Toyota, a Toyota subsidiary that is building a “city …

Toyota backs Japanese space startup Interstellar to mass-produce rockets Read More »

By Alexandra Alper WASHINGTON (Reuters) – Nippon Steel and U.S. Steel are unlikely to convince a court to scrap President Joe Biden’s decision to block their $14.9 billion merger, but their lawsuit could give them more time to reach a deal with incoming President Donald Trump. The companies argued in a lawsuit announced on Monday …

Analysis-Nippon Steel lawsuit against Biden could buy time to keep U.S. Steel deal alive Read More »

WASHINGTON (Reuters) – Even as Nippon Steel faced skepticism of its doomed $14.9 billion bid for U.S. Steel from the Biden administration, it was also contending with headwinds from an unlikely source: the CEO of a rival bidder for the firm who repeatedly cast doubt on the deal’s prospects to investors.  Lourenco Goncalves, CEO of …

Rival CEO spread doubt about Nippon Steel deal prospects to Wall Street, documents allege Read More »

By Noriyuki Hirata, Yuka Obayashi and Katya Golubkova TOKYO (Reuters) – Japan’s Nippon Steel may need to look at a revamp of its growth strategy after U.S. President Joe Biden blocked its proposed $14.9 billion acquisition of U.S. Steel, but its share price could bounce back in the near-term, analysts said. Shares in Nippon Steel …

Nippon Steel could face growth challenges after U.S. Steel purchase blocked, analysts say Read More »

By Clare Jim HONG KONG (Reuters) -Developer Sunac China has informed some of its dollar creditors it is unlikely to meet a September bond maturity deadline, two sources said, as weak sales raise the prospects for a new round of offshore debt restructuring in the property sector. Sunac, which used to be among the country’s …

Sunac China flags difficulty making Sept dollar bond payments, sources say Read More »