Reuters Asia Business

BANGKOK (Reuters) – Thailand’s cabinet on Wednesday approved draft legislation to implement a global minimum corporate tax of 15% on multinational enterprises, according to two sources with direct knowledge of the matter. Under the new rules being shepherded through by the Organisation for Economic Cooperation and Development (OECD), a minimum 15% tax will be charged …

Thai cabinet approves draft law on global minimum corporate tax, sources say Read More »

By Makiko Yamazaki TOKYO (Reuters) -Labour unions at major Japanese auto manufacturers have set a specific target for pay hikes for wage negotiations for the first time in seven years, as they aim to spread wage growth momentum to smaller firms, a key goal of the government and central bank. The labour group, the Confederation …

Japan auto unions group sets pay hike target for first time in 7 years Read More »

By Jasper Ward and Alexandra Alper (Reuters) -A national security review of Nippon Steel’s $15 billion bid for U.S. Steel is ongoing and President Joe Biden will see what it yields before making a decision on whether to block the deal, the White House said on Tuesday, cautioning he still opposes the tie-up. The statement …

US says review of Nippon-US Steel deal ongoing as US Steel shares tumble Read More »

COPENHAGEN (Reuters) -Denmark’s Orsted said on Wednesday it has agreed to sell a 50% stake in its Greater Changhua 4 offshore wind farm to Taiwan’s Cathay Life Insurance for about 11.6 billion Danish crowns ($1.64 billion). The site is part of Orsted’s 920 megawatt (MW) offshore wind farms Greater Changhua 2b and 4, which the …

Orsted sells 50% stake in Taiwan wind farm for $1.64 billion Read More »

By Kantaro Komiya TOKYO (Reuters) -Nissan Motor will reassign Chief Financial Officer Stephen Ma to head its China business in January, it said on Wednesday, a high-profile shake-up for the crisis-hit Japanese automaker as it cuts thousands of jobs worldwide. Nissan Americas Chairperson Jeremie Papin will replace Ma as finance chief. President-CEO Makoto Uchida is …

Nissan moves CFO Stephen Ma to head China in management reshuffle Read More »

(Corrects number of economists polled to 20, not 25, in paragraph 2) By Bing Hong Lok SINGAPORE (Reuters) – Singapore’s economy will grow 3.6% this year, up from a previous forecast of 2.6% expansion, while monetary policy settings are expected to remain unchanged at an upcoming review in January, a survey by the central bank …

Singapore economists see growth of 3.6% in 2024, monetary policy unchanged in January Read More »

By Cynthia Kim SEOUL (Reuters) – For pub owner Jun Jung-sook, Seoul’s once-vibrant Nokdu Street is not what it used to be when people queued for a table to end their day with Korean mung bean pancakes and shots of the fiery local rice wine makgeolli. The more common sight now is of half-empty pubs …

South Korea’s fading nightlife signals shift in hard-drinking culture Read More »

By Anton Bridge and Kane Wu TOKYO/HONG KONG (Reuters) – Nippon Life Insurance plans to acquire all the shares it does not own in Resolution Life Group Holdings for about $8.2 billion – an all-cash deal that gives Japan’s biggest insurer a firmer footing in the U.S. market. The deal is the largest overseas acquisition …

Nippon Life to buy Resolution in $8.2 billion deal as it pursues US growth Read More »