By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) -Japan’s Kansai Electric Power and Tokyo Electric Power reported on Wednesday drops in their first-half net profit of 38% and 46%, respectively, due to losses linked to delays in adjusting power prices to reflect fuel price changes. Kansai’s net profit fell to 228.8 billion yen ($1.5 billion) …
Kansai Elec, Tepco H1 profits fall due to fuel adjustment losses Read More »
By Yuka Obayashi and Katya Golubkova TOKYO (Reuters) – Tokyo Gas, Japan’s biggest city gas provider, on Wednesday posted 17.2 billion yen ($112 million) in first-half net profit to end-September, down 84% from the same period a year earlier, hit by lower gas prices at home and North America. But the utility announced a fresh …
Tokyo Gas H1 profit falls 84% on lower gas prices, announces share buyback Read More »
(Reuters) -Singapore-listed Wilmar International reported a 35.7% fall in third-quarter core net profit on Wednesday, weighed down by weaker China and sugar division operations. The company, one of the world’s largest food producers, said core net profit was $208.1 million for the three months ended Sept. 30, compared with $323.6 million a year ago. Wilmar …
Singapore’s Wilmar third-quarter profit slumps 36% on weak China, sugar segment Read More »
By Makiko Yamazaki TOKYO (Reuters) – Japanese Prime Minister Shigeru Ishiba’s economic advisory panel on Wednesday called on the government, management and labour unions to swiftly start talks on raising minimum wages, a key Ishiba policy initiative that has sparked a backlash from businesses. The panel’s call was made at its first meeting under Ishiba’s …
Japan economic panel calls for early start of talks on raising minimum wages Read More »
BEIJING (Reuters) – China’s stimulus efforts could come with a cost and they must be carried out alongside reforms to ensure sustainable economic growth, Liu Shijin, a former central bank adviser, said in remarks published on Wednesday. “Stimulus could come with a cost and we should combine stimulus with reforms,” Chinese media outlet Yicai quoted …
China stimulus should go hand in hand with reforms, ex central bank adviser says Read More »
TAIPEI (Reuters) – The chief executive of Taiwan’s top chip design company MediaTek said on Wednesday that geopolitical risk is a very difficult subject but they have a strong compliance programme and will not do anything “strange”. Taiwan is home to major chip firms such as TSMC, the world’s largest contract chipmaker, which are at …
Top Taiwan chip designer MediaTek says geopolitical risks ‘difficult’ subject Read More »
BEIJING/SHANGHAI (Reuters) – Industrial and Commercial Bank of China Ltd (ICBC), the world’s largest commercial lender by assets, said net profit grew 3.8% year-on-year in the third quarter. Profit was 98.558 billion yuan ($13.84 billion) in the three months through September, compared with 94.929 billion yuan in the same period a year earlier, the bank …
Top China bank ICBC, world’s largest, posts 3.8% Q3 profit rise Read More »
BEIJING (Reuters) – China’s SAIC Motor said it intends to file a lawsuit at the European Union’s Court of Justice to protect its rights and interests after the EU ruled to hike tariffs on Chinese-built electric vehicles to as much as 45.3%. The automaker said the European Commission’s countervailing investigation was “wrong in determining subsidies” …
China’s SAIC to file lawsuit countering EU’s ruling on EVs Read More »
By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) -Standard Chartered said it will double investment in its wealth unit while paring back retail banking, as it lifted performance targets and said it will go further in reshaping the bank to try and meet those goals. Income this year will grow by around 10%, the …
StanChart to double investment in wealth unit, trim retail as it lifts outlook Read More »
By Anton Bridge TOKYO (Reuters) – SoftBank Group CEO Masayoshi Son reiterated his belief in the coming of artificial super intelligence (ASI) on Tuesday, saying it would require hundreds of billions of dollars of investment to realise. Artificial super intelligence will be 10,000 times smarter than a human brain and will exist by 2035, Son …
SoftBank’s Son says artificial super intelligence to exist by 2035 Read More »
