Japanese workers have seen their pay go up at a record rate after the government called on companies to help employees facing rising prices. Official figures show that, compared to a year earlier, wages rose by 1.8% in May, the fastest pace in 28 years. The salaries of many people […]
Business
Electric car maker Tesla Inc is laying off some battery production workers at its Shanghai plant, Bloomberg News reported on Friday (Jul 7), citing people familiar with the matter. It was not clear how many workers may be let go, or the specific reasons behind the layoffs, according to the […]
HONG KONG : Chinese authorities are likely to announce a fine of at least 8 billion yuan ($1.1 billion) on Ant Group as soon as Friday, sources with direct knowledge of the matter said, bringing an end to the fintech company’s years-long regulatory overhaul. The People’s Bank of China (PBOC), […]
TAIPEI : Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. Morris Chang, who founded the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC), […]
SHANGHAI : U.S. semiconductor wafer maker AXT Inc said on Monday it would seek permits to keep exporting gallium and germanium substrate products from China, after Beijing abruptly imposed export controls on the metals key to chipmaking. California-headquartered AXT, which has manufacturing facilities in China, said its Chinese subsidiary Tongmei […]
U.S.-China tensions over semiconductors began with the Trump administration’s trade war and have ratcheted up under President Joe Biden’s leadership as Washington looks to undercut Beijing’s efforts to build its high-tech industry. The U.S. and the Netherlands are set to deliver a one-two punch to China’s chipmakers by further curbing […]
LONDON: One of the world’s most common artificial sweeteners is set to be declared a possible carcinogen next month by a leading global health body, according to two sources with knowledge of the process, pitting it against the food industry and regulators. Aspartame, used in products from Coca-Cola diet sodas […]
NEW DELHI: Amazon.com Inc said on Friday it will take its investments to $26 billion in India by 2030, adding $6.5 billion in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States. Though Jassy gave no breakdown, the announcement […]
TOKYO : Japanese online financial conglomerate SBI Holdings Inc said on Saturday it now has 53.74 per cent shares of midsize lender SBI Shinsei Bank from 50.04 per cent after a tender offer. The completion of the tender offer through Friday is setting up grounds for expected delisting of Shinsei […]
SINGAPORE: The US dollar rose broadly today and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. China today lowered its one-year and five-year loan prime rates (LPR) by 10 basis points, as […]