TOKYO : Japanese factory output improved in June for the first time in two months, government data showed on Monday, highlighting growing confidence among manufacturers buoyed by strong demand. Many countries, including Japan, are relying on domestic consumption to underpin growth while the risk of global recession persists. Output rose […]
Business
PARIS: Elon Musk is rebranding his Twitter platform as “X” and wants to create a super-app where users will do all their finances as well as their socialising. His inspiration is China’s WeChat, which dominates the Chinese internet with chat, payments, games and a host of other functions in its […]
SINGAPORE : The dollar fell on Thursday after the Federal Reserve delivered what some expected to be its last rate hike, while market focus shifted across the Atlantic to the European Central Bank’s (ECB) rate decision later in the day. The Fed on Wednesday raised interest rates by a quarter […]
SEOUL : South Korea’s export decline likely accelerated in July amid persistently weak demand from China, a Reuters survey showed on Thursday, signalling a bumpy road towards recovery. Outbound shipments were expected to extend their run of year-on-year losses to a 10th straight month with a 14.5 per cent fall […]
TOKYO : Japan’s government on Tuesday left its own projections unchanged for achieving a primary budget surplus in the fiscal year ending in March 2027 – lagging by a year from its ambitious target, according to twice-yearly projections by the Cabinet Office. Prime Minister Fumio Kishida’s government pledges to bring […]
Chipmaking giant Taiwan Semiconductor (TSMC) has delayed the start of production at its factory in the US state of Arizona, in a setback to President Biden’s technology ambitions. The firm says chip manufacturing will no longer start next year, due to a shortage of skilled workers. The White House has […]
SAN FRANCISCO : Tesla Chief Executive Elon Musk on Wednesday set new targets for artificial intelligence products including self-driving software and using humanoid robots in factories, though he acknowledged he’s been optimistic before. The electric vehicle maker is in early talks with a major automaker to license its full self-driving […]
BEIJING : China’s top economic planner pledged on Tuesday that it would roll out policies to “restore and expand” consumption without delay as consumers’ purchasing power remained weak, suggesting an urgency to revive domestic demand. The world’s second-largest economy grew at a frail pace in the second quarter, official data […]
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 […]
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 […]