Reuters Asia Business

BERLIN (Reuters) -Germany is drafting new regulations to ensure Chinese discount retailers such as Temu and Shein comply with standards for product safety, environmental protection, consumer rights, as well as customs and tax laws, Capital magazine reported. Germany’s main retail association HDE has been lobbying the government to “ensure fair competition for all market participants”, …

Germany drafting regulations for Chinese online discounters, Capital reports Read More »

By Joanna Plucinska and Tim Hepher LONDON/PARIS (Reuters) – Europe’s air safety regulator said on Thursday it would call for inspections of at least part of the Airbus A350 long-haul fleet after an engine part failed during the flight of a Cathay Pacific A350-1000 jetliner. The European Union Aviation Safety Agency (EASA) said it was …

Part of Airbus A350 fleet faces inspection, regulator says Read More »

By Alexandra Alper WASHINGTON (Reuters) – Nippon Steel’s proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt the supply of steel needed for critical transportation, infrastructure, construction and agriculture projects, the U.S. said in a letter sent to the companies and seen by Reuters. Decisions by Nippon could …

Exclusive-US worries about steel supply for infrastructure after Nippon-US steel deal Read More »

BERLIN (Reuters) – Wirecard ex-CEO Markus Braun and two other executives at the defunct German payments firm were ordered to pay 140 million euros ($155 million) in damages on Thursday over loans to an Asian business partner that were never repaid. A Munich court judge upheld claims by insolvency administrator Michael Jaffe that Braun and …

Wirecard ex-CEO Braun, two others ordered to pay 140 million euros in damages Read More »

By Ahmad Ghaddar, Olesya Astakhova and Alex Lawler LONDON (Reuters) – OPEC+ has agreed to delay a planned oil output increase for October and November, the producers group said on Thursday after crude prices hit their lowest in nine months, adding that it could further pause or reverse the hikes if needed. Oil prices have …

OPEC+ agrees to delay October oil output hike for two months Read More »

By Toby Sterling (Reuters) -The chief executive of Dutch computer chip equipment supplier ASML said on Wednesday a U.S.-led campaign to restrict the company’s exports to customers in China in the name of national security has become more “economically motivated” over time. Christophe Fouquet, speaking at a Citi conference in New York, said he expects …

ASML CEO says US desire to restrict exports to China ‘economically motivated’ Read More »

By Jeff Mason, David Shepardson and Alexandra Alper WASHINGTON (Reuters) -The White House is close to announcing President Joe Biden will block Nippon Steel’s acquisition of U.S. Steel citing national security concerns, two sources familiar with the situation said on Wednesday, amid growing bipartisan political opposition to the $14.9 billion deal. U.S. Steel had earlier …

Biden close to blocking Nippon Steel deal to buy U.S. Steel, sources say Read More »