(Reuters) – Morgan Stanley has lowered its global oil demand growth forecast for 2024, mainly due to China’s slower economic growth, increased electric vehicle usage there, and a rise in the number of trucks in China powered by liquefied natural gas (LNG). The bank cut its global oil demand growth forecast for this year to …
Morgan Stanley cuts 2024 oil demand growth outlook on China factors Read More »
By Julian Luk LONDON (Reuters) -Would-be sellers of battery metal lead on the Shanghai Futures Exchange (ShFE) have been forced to search for overseas supplies or roll forward contracts they hoped to close following a change in specifications, four sources familiar with the matter said. ShFE declined to comment. While the global lead market is …
Lead sellers caught short by Shanghai delivery rule change Read More »
By Amy Lv and Colleen Howe BEIJING (Reuters) -China, the world’s largest steel producer, will temporarily halt its steel capacity replacement programme from Aug. 23 while working to revise the measures, the Ministry of Industry and Information Technology said on Friday. The suspension of the programme, which mandates that mills must remove at least an …
China pauses steel capacity swap programme, which will limit expansion Read More »
SHANGHAI (Reuters) – Having spent all year trying to put a floor under the tumbling yuan, China’s central bank is suddenly faced with the opposite problem and is turning to subtle ways to stop the currency from appreciating sharply. The usually restrained yuan has strengthened 1.3% against the dollar in August, recouping nearly all its …
Analysis-After battle with yuan bears, China is now keen to avoid sharp currency gains Read More »
By Makiko Yamazaki and Satoshi Sugiyama TOKYO (Reuters) -Japan’s core inflation accelerated for a third straight month in July, data showed on Friday, but a slowdown in demand-driven price growth could complicate the central bank’s decision on further interest hikes in the coming months. The nationwide core consumer price index (CPI), which excludes fresh food …
Japan’s core inflation picks up, but demand-driven growth below 2% Read More »
By Jack Kim SEOUL (Reuters) -South Korean police said on Friday a fire at a lithium battery maker that killed 23 people in June occurred as the company raced to produce batteries to meet a deadline without taking action to address signs of dangerous quality failures. Nine other workers were injured in the fire at …
South Korea police blame quality failures for fatal fire at battery maker Read More »
(Reuters) – The Asian Infrastructure Investment Bank issued its first digital bond on Friday, raising $300 million, Euroclear said in a statement. The issue is the first dollar-denominated digital issuance for Euroclear and the first issuance by an Asia-based issuer on its platform, using its distributed ledger technology system. Digital bonds are debt instruments that …
Asian Infrastructure Investment Bank issues its first digital bond Read More »
By Joe Cash and Mei Mei Chu BEIJING (Reuters) -China has widened its investigation into imported EU products, adding an anti-subsidy probe of cheese, milk and cream to anti-dumping checks on pork and brandy. Beijing announced the move on Wednesday, a day after the EU published a revised tariff plan for China-made electric vehicles (EVs). …
Factbox-What you need to know about China’s widening probe of EU imports Read More »
MUNICH (Reuters) – Siemens has chosen Toyota’s Vanderlande as a buyer for its airport logistics unit Siemens Logistics, three people familiar with the bidding process told Reuters on Thursday. The exact terms are being negotiated and the deal is still pending Siemens’ supervisory board approval, two of the sources said. Both Siemens and Vanderlande declined …
Siemens picks Toyota’s Vanderlande as buyer for logistics unit, sources say Read More »
By Rocky Swift and Maki Shiraki TOKYO (Reuters) – Seven & i Holdings turned the humble 7-Eleven store into a popular food destination in Japan by serving up fresh sandwiches, rice balls and rows of boxed lunches, changing how millions of people eat. Five decades after it opened the first store in its home market, …
As 7-Eleven’s Japan owner weighs a bid, U.S. fans crave ‘conbini’ food Read More »
