By Satoshi Sugiyama TOKYO (Reuters) – The Japanese government has upgraded its economic assessment for the first time in more than a year on signs of improved consumption, fostering optimism for a broader recovery. “The Japanese economy is recovering at a moderate pace, although it appears to be still pausing in parts,” the Cabinet Office …
Japan raises economic assessment for first time in 15 months Read More »
By Tim Hepher PARIS (Reuters) – Lockheed-backed Electra.aero has appointed former Boeing executive Marc Allen as chief executive as it seeks to deliver on plans to develop hybrid-electric planes capable of operating from soccer-field-length runways. The Virginia-based startup, whose investors include Lockheed Martin Ventures, is developing a nine-passenger eSTOL or electrically powered Short Take-Off and …
Electra.aero picks ex-Boeing executive Marc Allen as CEO Read More »
By David Ljunggren OTTAWA (Reuters) – Before Canada said this week it was imposing a 100% duty on Chinese-made electric vehicles, Tesla approached Ottawa and asked for a lower tariff on its autos, a Canadian government source said on Wednesday. Canada, following the lead of the United States, said on Monday it was setting the …
Exclusive-Tesla asked Canada for lower tariff on China-made EVs, government source says Read More »
By David Shepardson WASHINGTON (Reuters) -Two top Republican lawmakers on Wednesday asked the U.S. Defense Department to add Chinese battery maker CATL to a restricted list of companies allegedly working with Beijing’s military. Companies added to the list cannot receive U.S. military contracts and being added to the list carries significant reputational risks, experts say. …
Two Republicans want Pentagon to add Chinese battery maker CATL to restricted list Read More »
By John Revill BELLINZONA, Switzerland (Reuters) -The Swiss Federal Criminal Court convicted on Wednesday two executives at an oil exploration company for embezzling more than $1.8 billion from Malaysia’s state investment fund 1MDB. Swiss-British national Patrick Mahony and Swiss-Saudi Tarek Obaid were also ordered to pay back more than $1.75 billion to the fund, which …
Swiss court convicts two executives over $1.8 billion 1MDB fraud Read More »
By Nate Raymond (Reuters) – A U.S. appeals court has revived a lawsuit against TikTok by the mother of a 10-year-old girl who died after taking part in a viral “blackout challenge” in which users of the social media platform were dared to choke themselves until they passed out. While a federal law typically shields …
TikTok must face lawsuit over 10-year-old girl’s death, US court rules Read More »
By Kane Wu HONG KONG (Reuters) -Drugmaker Mundipharma International, owned by the billionaire Sackler family, has failed to find a buyer for its China unit for the second time in a renewed sale process this year, two sources with knowledge of the matter said. Mundipharma, the maker of painkiller OxyContin, had hired Deutsche Bank to …
Drugmaker Mundipharma’s China unit sale fails to find buyer, sources say Read More »
By Selena Li HONG KONG (Reuters) -Prudential saw sales in the Singapore market propel its first-half profit increase, but a slowdown in business in its one-time largest markets of Hong Kong and China weighed on overall growth. The London and Hong Kong dual-listed company posted on Wednesday operating profit of $1.54 billion for the first …
Prudential profit rises on Singapore growth, China and Hong Kong sales stall Read More »
By Hyunsu Yim SEOUL (Reuters) – South Korean authorities called on Telegram and other social media platforms on Wednesday to work together with them in deleting and blocking sexually explicit deepfake content, seeking to appease public and political outrage over the problem. The steps follow reports by several domestic media outlets that sexually explicit deepfake …
South Korea to ask Telegram, other social media firms to help tackle digital sex crimes Read More »
By Casey Hall SHANGHAI (Reuters) -Chinese food delivery giant Meituan posted a bigger than expected 21% rise in second-quarter revenue on Wednesday, defying a slowing Chinese economy. Meituan, which has an app that provides services as varied as bike-sharing, ticket-booking and maps, reported revenue in the three months to June 30 at 82.3 billion yuan …
Food delivery giant Meituan defies China consumer pullback with revenue beat Read More »
