Reuters Asia Business

BEIJING (Reuters) -China’s 2024 box office revenue slumped by almost a quarter from the previous year, official data showed on Wednesday, dealing a blow to a limping domestic industry yet to fully recover from the pandemic. Box office revenue totalled 42.502 billion yuan ($5.82 billion), according to the China Film Administration. That’s down 22.6% from …

China 2024 box office revenue plunges as industry downturn deepens Read More »

By Alexandra Alper (Reuters) -Japan’s Nippon Steel has proposed giving the U.S. government veto power over any potential cuts to U.S. Steel’s production capacity, as part of its efforts to secure President Joe Biden’s approval for acquiring the American steelmaker, a source familiar with the matter said on Tuesday. Last week, the Committee on Foreign …

Nippon Steel offers US government veto power in bid for US Steel approval, source says Read More »

By Ernest Scheyder (Reuters) – BMW and Yamaha Motor have invested in U.S.-based rare earths processing startup Phoenix Tailings, the latest move by manufacturers to boost production of the strategic metals outside of China. Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell …

BMW, Yamaha Motor back US rare earths startup Phoenix Tailings Read More »

(Reuters) -Singapore Post has appointed the CFO of its Australia business as group finance chief, the company said on Sunday, a week after dismissing its CFO and two senior executives for mishandling a whistleblower report. Isaac Mah, who joined Singapore Post in 2019, most recently oversaw the sale of the company’s Australia business to private …

Singapore Post names new CFO in executive overhaul after whistleblower report Read More »

By Jiaxing Li Hong Kong (Reuters) – Chinese stocks registered their first annual gain following an unprecedented three-year decline despite a dip on the final trading day of 2024, while Hong Kong shares ended the year higher, supported by optimism over policy support. The blue-chip CSI 300, tracking the biggest companies listed in Shanghai and …

Chinese stocks post first annual gain since 2020, HK ends 4-year rout Read More »

By Anushree Mukherjee and Brijesh Patel (Reuters) – Oil prices are likely to be constrained near $70 a barrel in 2025 as weak demand from China and rising global supplies are expected to cast a shadow on OPEC+-led efforts to shore up the market, a Reuters monthly poll showed on Tuesday. The survey of 31 …

Ample supply, slow demand to temper oil price gains in 2025: Reuters poll Read More »

BEIJING (Reuters) – Tesla will fix software in 77,650 China-made Model 3 and Model Y cars over safety hazards, China’s market regulator said on Tuesday. The action, due to software issues that may fail to display the monitored tyre pressure immediately after the vehicle starts, is described as a product recall under Chinese regulations, the …

Tesla to fix software for 77,650 China-made vehicles, says market regulator Read More »