Reuters Asia Business

(Reuters) – Allianz SE has scrapped a proposed $1.5 billion euro acquisition of a 51% stake in Singaporean firm Income Insurance Ltd because of public opposition to the deal, a source familiar with the matter said. The move would have lifted Allianz to fourth largest composite insurer in Asia, from ninth, but sparked critique in …

Allianz scraps proposed acquisition of Singapore’s Income Insurance, source says Read More »

By Selena Li HONG KONG (Reuters) – Goldman Sachs received regulatory approval to sell funds in China, the latest U.S. investment bank to get a financial licence in a sign of Beijing’s commitment to continue opening up the sector to foreign companies. The Beijing Bureau of China Securities Regulatory Commission (CSRC) granted a fund sales …

Goldman Sachs granted licence for China fund sales Read More »

By David Shepardson WASHINGTON (Reuters) -The chair and top Democrat on a U.S. House of Representatives committee on China told the CEOs of Google-parent Alphabet and Apple on Friday they must be ready to remove TikTok from their U.S. app stores on Jan. 19. Last week, a U.S. federal appeals court upheld a law requiring …

US lawmakers tell Apple, Google to be ready to remove TikTok from app stores Jan. 19 Read More »

By Gram Slattery WASHINGTON (Reuters) -A top trade adviser to President-elect Donald Trump told Reuters on Thursday that the new administration would not look “fondly” on any attempt by China to manipulate its currency, responding to a Reuters report that authorities there were considering allowing the yuan to weaken next year. Peter Navarro, Trump’s incoming …

Trump trade adviser warns against currency manipulation as China mulls weaker yuan Read More »

LONDON (Reuters) – Two dozen migrant workers who allege they were subjected to forced labour at a Malaysian factory while making parts for British vacuum cleaner manufacturer Dyson can sue the company in London, the Court of Appeal ruled on Friday. The 24 workers from Nepal and Bangladesh, one of whom has died and whose …

Malaysian workers’ lawsuit against Dyson revived by UK court Read More »

By Kane Wu HONG KONG (Reuters) – Global private equity firms Blackstone and Bain Capital are among final bidders for Mitsubishi Tanabe Pharma, a unit of Japan’s Mitsubishi Chemical Group, in a deal that could value it at between $3 billion and $3.5 billion, three sources said. Mitsubishi Chemical has hired Goldman Sachs to run …

Blackstone, Bain to bid for Mitsubishi pharma unit in up to $3.5 billion deal, sources say Read More »

By Kevin Yao, Liz Lee BEIJING (Reuters) -New bank lending in China rose by far less than expected in November, highlighting weak credit demand in the world’s second-largest economy as policymakers pledge to roll out more stimulus measures. Chinese banks extended 580 billion yuan ($79.72 billion) in new yuan loans in November, up from October …

China bank lending rises far less than expected, more policy steps needed Read More »