Reuters Asia Business

PARIS (Reuters) – France will challenge China over its import duties on brandy, which Paris calls political and unjustified, when junior trade minister Sophie Primas visits Shanghai next week, two French diplomatic sources said on Tuesday. China imposed temporary anti-dumping measures on imports of brandy from the European Union early this month after the bloc …

French minister to challenge China over ‘political’ cognac duties Read More »

MILAN (Reuters) – Europe’s car safety agency has issued a “not recommended” rating to the driver assistance system used in BYD’s Atto 3 EV, dealing a blow to the Chinese automaker as it strives to expand on the continent. The model scored zero on driver monitoring features and performed poorly in preventing undertaking at speeds …

European car safety agency snubs BYD’s Atto 3 driver assistance system Read More »

BEIJING (Reuters) – China’s biggest listed steelmaker, Baoshan Iron & Steel, reported on Tuesday a nearly 65% plunge in its third-quarter net profit, undermined by a fall in steel prices. The company, known as Baosteel, said in a filing to the Shanghai Stock Exchange that it made net profit of 1.34 billion yuan ($188 million), …

China Baosteel’s Q3 net profit more than halves on faltering steel prices Read More »

BERLIN (Reuters) – Volkswagen sees discounts on electric vehicles in China as “part of the business,” the German carmaker’s China boss Ralf Brandstaetter said in an interview with Handelsblatt on Tuesday. “Of course, we also take tactical and time-limited measures where it makes sense to do so – that’s part of the business,” Brandstaetter said. …

Volkswagen’s China boss sees EV discounts as ‘part of the business’ Read More »

TOKYO (Reuters) – Tohoku Electric Power resumed operations on Tuesday of the 825 megawatt (MW) No.2 reactor at its Onagawa nuclear power plant in northern Japan, for the first time since the Fukushima nuclear disaster in 2011, a company spokesperson said. The plant runs boiling water reactors (BWR), the same as those in Fukushima, and …

Japan’s Tohoku Elec restarts Onagawa reactor after 13-year hiatus Read More »

(Reuters) – Asia’s largest oil and gas producer PetroChina Co Ltd reported a 5.3% year-on-year decline in third-quarter net profit as weaker fuel sales and lower oil prices outweighed growing gas and oil output. Net profit fell to 43.91 billion yuan ($6.15 billion), the company said in a stock filing on Tuesday. Revenue fell 12.4% …

PetroChina’s Q3 profit down 5.3% on fuel sales decline, lower oil prices Read More »