Reuters Asia Business

(Corrects to surname of CEO on second reference, rather than first name, in paragraph 5 of November 12 story) (Reuters) -Singapore Telecommunications posted a 14% rise in first-half underlying profit on Wednesday, helped by a strong performance from its Australian unit Optus and regional associates, and said it expects higher operating earnings from its core …

Singtel sees higher earnings from core units after half-year profit rises (November 12) Read More »

By Colleen Howe BEIJING (Reuters) -AI data centre-fuelled power demand growth in the U.S. is likely to drive a “boom cycle” for energy storage in the next five years as more storage is needed to smooth out fluctuations from wind and solar generation, according to UBS Securities. Global energy storage demand could increase 40% globally …

Data centres to drive energy storage ‘boom cycle’ in next five years, UBS says Read More »

By Marie Mannes and Zaheer Kachwala (Reuters) -Polestar reported a wider third-quarter loss on Wednesday and said it would conduct a reverse stock split – reducing the number of its existing shares while increasing their value – in an attempt to retain its Nasdaq listing. Shares in the company, majority-owned by China’s Geely Holding and …

Polestar’s losses widen, aims to keep Nasdaq listing with reverse stock split Read More »

By Fanny Potkin and Stefanno Sulaiman SINGAPORE/JAKARTA (Reuters) -The Indonesian government fully backs a possible merger between ride-hailing and food delivery firm GoTo and Singapore-based rival Grab after initially opposing a deal, two sources with knowledge of the matter said on Wednesday. State investment fund Danantara Indonesia was also in talks to take a “golden …

Indonesia government backs planned merger of Grab and GoTo, sources say Read More »

MILAN (Reuters) -Pirelli Executive Vice Chairman Marco Tronchetti Provera said on Wednesday he expected Ferrari’s upcoming first fully electric model to do well in Asia but not so much in Europe. Ferrari last month unveiled the technology which will power its hotly-anticipated first electric car, the Elettrica, as the Italian luxury sportscar maker looks to …

EV Ferrari won’t sell in Europe but will in Asia, Pirelli’s Tronchetti says Read More »

By David Shepardson (Reuters) -Toyota Motor said on Wednesday it had begun production at its $13.9 billion North Carolina battery plant as it ramps up hybrid production and confirmed plans to invest $10 billion over five years in U.S. manufacturing. The Japanese automaker first announced the plan in December 2021 to produce batteries for its …

Toyota opens US battery plant, confirms $10 billion investment plan Read More »