Thailand trims 2024 growth forecast despite strong Q1, as weak exports weigh
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) - Thailand trimmed its economic growth forecast for 2024 on Monday despite a better-than-expected expansion in the January-March quarter, saying exports were projected to increase at a ...
9h ago
China's exports to North Korea swing to growth in April
BEIJING (Reuters) - China's exports to North Korea in April rose at a marginal pace from a year earlier, reversing an annual decline in March, customs data showed on Monday, as Pyongyang affirmed its position to develop long-standing ties with Chin...
9h ago
Vietnam Deputy PM: economy facing mounting pressure
HANOI (Reuters) - Vietnam's economy is facing mounting pressure and the government will maintain policies that support growth, Deputy Prime Minister Le Minh Khai said on Monday. Khai said inflation is on the rise while credit growth remains weak, a...
11h ago
Most Chinese developers' shares fall despite latest support measures
HONG KONG (Reuters) - Shares of most major Chinese developers fell on Monday even after China announced "historic" steps to stabilise its crisis-hit property sector. Hong Kong's Hang Seng Mainland Properties Index dropped more than 2%, having gaine...
11h ago
China commerce ministry bans some US firms from import, export activities
BEIJING (Reuters) - China's Commerce Ministry said on Monday that it will prohibit some U.S. firms from importing and exporting activities related to China, including one selling arms to Taiwan, and forbid them from making new investments in China....
11h ago
Oil prices climb amid uncertainty over Iran president's fate
By Colleen Howe BEIJING (Reuters) - Oil prices rose in early Asian trading on Monday, adding to last week's gains as rescuers searched for Iran's president after a helicopter crash in the oil-producing nation and after the U.S. bought crude to help...
12h ago
China leaves benchmark LPRs unchanged, in line with expectations
SHANGHAI/SINGAPORE (Reuters) - China left benchmark lending rates unchanged at a monthly fixing on Monday, in line with market expectations. WHY IT'S IMPORTANT The steady monthly LPR fixings come after China announced "historic" steps last week to ...
12h ago
Elliott builds $1 billion-plus stake in Johnson Controls, Bloomberg reports
(Reuters) - Activist investor Elliott Investment Management has built a position worth over $1 billion in Johnson Controls International Plc, Bloomberg News reported on Sunday. The Bloomberg report also said that Elliott's intentions behind the sta...
12h ago
Asia shares touch two-year top as China plans property boost
By Tom Westbrook SINGAPORE (Reuters) - Asian shares started the week by rallying two-year highs on Monday, buoyed by China's strongest measures yet to address its property crisis and by expectations for global rate cuts within weeks, while the doll...
13h ago
Dollar steady as traders await clues on US rate path
By Ankur Banerjee SINGAPORE (Reuters) - The dollar was broadly steady on Monday as investors awaited further clues to help chart the U.S. interest rate path in the wake of cautious comments from Federal Reserve officials, even as inflation shows si...
13h ago
Australia's Star Entertainment gets potential deal offers
(Reuters) - Australian casino operator Star Entertainment Group said on Monday it had received unsolicited and non-binding interest from several external parties regarding potential take-control transactions. The Australian Financial Review had rep...
14h ago
Asking prices for UK homes hit record high, Rightmove says
LONDON (Reuters) - Prices of homes being put up for sale in Britain have hit record highs despite still expensive mortgage costs, but the pace of gains has slowed, according to data from property website Rightmove. The average asking price for resi...
15h ago
Japan and ASEAN plan joint strategy on auto production, Nikkei reports
(Reuters) - Japan and the Association of Southeast Asian Nations (ASEAN) plan to create their first joint strategy on automobile production and sales within the Southeast Asian bloc to counter China's increasing presence in the electric vehicle mar...
15h ago
Morning Bid: China clouds darken market mood
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Broadly speaking, the global backdrop for Asian markets is still bright, with investors confident that the Fed will soon cut U.S. interest rates keeping the dollar, bond yields...
16h ago
EQT in advanced talks to buy Keywords Studios for $2.8 billion
(Reuters) -European private equity group EQT is in advanced discussions to buy Dublin-based video game services company Keywords Studios for 2.2 billion pounds ($2.79 billion), the companies said in a statement. EQT is negotiating over a possible cash ...
23h ago
U.S. regulators reconsider capital hike for big banks, WSJ reports
(Reuters) - The Federal Reserve and two other U.S. regulators are moving toward a new plan that would significantly reduce a nearly 20% mandated increase in capital for the country's biggest banks following lobbying efforts by industry CEOs like JP...
May 19, 2024
Musk arrives in Indonesia's Bali for planned Starlink launch
JAKARTA (Reuters) - Tycoon Elon Musk arrived on the Indonesian island of Bali on Sunday ahead of the planned launch of SpaceX's Starlink internet service, which the Indonesian government hopes will boost internet penetration and health services in ...
May 19, 2024
China launches anti-dumping probe into EU, US, Japan, Taiwan chemicals
BEIJING (Reuters) - China's commerce ministry launched an anti-dumping probe on Sunday into POM copolymers, a type of engineering chemicals, imported from the EU, U.S., Japan and Taiwan. The chemicals can partially replace metals such as copper and...
May 19, 2024
Sony and Apollo move ahead with Paramount bid process but reticent about earlier plan, NYT reports
(Reuters) - Sony Pictures Entertainment and Apollo Global Management have signed nondisclosure agreements that will allow them to look at Paramount's books ahead of a potential bid for the movie studio's assets, the New York Times reported on Frida...
May 18, 2024
Crypto lender Genesis to return $3 billion to customers in bankruptcy wind-down
By Dietrich Knauth NEW YORK (Reuters) - Crypto lender Genesis Global received court approval on Friday to return about $3 billion in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, wi...
May 18, 2024
Nippon key negotiator to meet U.S. Steel staff in Pittsburgh, Bloomberg News reports
(Reuters) - Japan's Nippon Steel's vice chairman and key negotiator for the U.S. Steel deal, Takahiro Mori, will travel to Pittsburgh, Pennsylvania next week to meet with local staff and elected officials, Bloomberg News reported on Friday, citing ...
May 18, 2024
Analysis-UAW's stinging loss in Alabama won't kill national organizing effort
By Nora Eckert VANCE, Alabama (Reuters) - The United Auto Workers failed in its effort to organize a Mercedes-Benz plant in Alabama, but the loss on Friday was a good result for a first effort in a historically anti-union state, labor professors an...
May 17, 2024
Stock market's record-setting rebound may have further to go
By Lewis Krauskopf NEW YORK (Reuters) - A rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide. Fresh signs of a cooling economy calmed inflation worries in May, helping all three m...
May 17, 2024
J&J-backed startup Rapport files for US IPO
(Reuters) - Biopharmaceutical company Rapport Therapeutics, backed by the venture capital arm of Johnson & Johnson, filed for an initial public offering in the United States on Friday. Rapport, which develops small molecule medicines for patients s...
May 17, 2024
US, TikTok seek fast-track schedule, ruling by Dec. 6 on potential ban
WASHINGTON (Reuters) - The U.S. Justice Department and TikTok on Friday asked a U.S. appeals court to set a fast-track schedule to consider the legal challenges to a new law requiring Chinese-based ByteDance to divest TikTok's U.S. assets by Jan. 1...
May 17, 2024