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☆ Japan Business Leaders Return to China Seeking to Bolster Cooperation
▼ + stars: | 2024-01-24 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

Japanese economic delegations had visited China every year since 1975, but those visits lapsed during the COVID-19 era when China largely shuttered its borders due to its stringent pandemic policies. During their visit this week, the Japanese business delegates, which included Masakazu Tokura, chairman of the powerful Keidanren, as the Japan Business Federation is known, are due to meet with Chinese Premier Li Qiang on Thursday. Japan is heavily reliant on China, where Japanese companies have for years invested in building manufacturing supply chains and forged relationships with local partners. China last year arrested a Japanese executive, an employee of the drugmaker Astellas Pharma, on suspicion of espionage. The move has had a chilling effect on business, Japanese officials say.

Persons: Masakazu Tokura, Premier Li Qiang, Fumio, Xi Jinping, Wang Yi, Gamble, Ryan Woo, Miyoung Kim, David Dolan, Michael Perry Organizations: Japan Business, Premier, Pharma, Procter, SK, Nidec Corp, Toyota, Nissan Locations: BEIJING, China, Japan, United States, Kishida, Greater China, Beijing, Singapore, Tokyo

☆ What do we know about China’s respiratory illness surge?
▼ + stars: | 2023-12-01 | by ( Andrew Silver | ) www.reuters.com time to read: +4 min

SHANGHAI, Dec 1 (Reuters) - A request by the World Health Organization for more information on a surge in respiratory illnesses and clusters of pneumonia in children in China has attracted global attention. The following is what we know about the surge in illness in the world's second most populous country so far, and why experts think there is no need to panic. The National Health Commission told a news conference on Nov. 13 that there was an increase in incidence of respiratory disease without providing further details. IS MYCOPLASMA PNEUMONIAE A BIG WORRY? One concern about the surge in respiratory illness is mycoplasma pneumoniae, which has also spiked in other countries.

Persons: Maria Van Kerkhove, Rajib Dasgupta, mycoplasma pneumoniae, it's, Cecille Brion, Van Kerkhove, We're, Andrew Silver, Miyoung Kim Organizations: World Health Organization, WHO, Program, National Health Commission, Reuters, Pacific, Jawaharlal Nehru University, Doctors, Raffles Medical Group Beijing, Thomson Locations: SHANGHAI, China, Taiwan, WHO China, COVID, South East Asia, New Delhi

Shein has not determined the size of its offering or the valuation at IPO, the sources said. Shein, Goldman and JPMorgan declined to comment, while Morgan Stanley did not immediately respond to a request for comment. The most valuable China-founded enterprise to go public in the United States so far is ride-hailing giant Didi Global's (92Sy.MU) debut in 2021 at $68 billion valuation. In 2021, the comparable number was $300 billion when the IPO market was close to its peak. Fast fashion retailers have been gaining popularity in the United States, with Shein taking away market share from the likes of Gap (GPS.N) as shoppers look for fresher styles.

Persons: Goldman Sachs, JPMorgan Chase, Morgan Stanley, Shein, Goldman, Didi Global's, Jason Benowitz, David, Dee, Delgado, CSRC, Simon Property, Sumeet Singh, It's, Pritam Biswas, Ananya Mariam Rajesh, Kane Wu, Anirban Sen, Rishabh, Scott Murdoch, Miyoung Kim, Stephen Coates Organizations: Amazon, JPMorgan, Bloomberg, Arm Holdings, Roosevelt, REUTERS, China Securities Regulatory Commission, U.S, Reuters, Securities and Exchange Commission, SPARC Group, Forever, Brands, Simon, Aequitas Research, China's Shanghai Securities, Street, Thomson Locations: United States, China, U.S, Singapore, New York City, Shein, Bengaluru, Hong Kong, New York, Sydney

☆ How China's Shein became a fast-fashion giant
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo Acquire Licensing RightsNov 28 (Reuters) - China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday. Shein says the approach has helped it consistently achieve average unsold inventory rates in the low single digits. At that valuation, Shein would still trail Uniqlo owner Fast Retailing's (9983.T) $80 billion valuation and Zara owner Inditex's (ITX.MC) $126 billion. Shein moved its headquarters to Singapore from Nanjing, capital of China's eastern Jiangsu province, around late 2021, a shift that analysts said helps the firm circumvent China's tough new rules on overseas listings.

Persons: Chen Lin, Shein, Chris Xu, PDD, Inditex's, Miyoung Kim, Stephen Coates Organizations: REUTERS, Reuters, WHO, Shein, Walmart, Thomson Locations: Singapore, China, United States, Europe, Asia, U.S, Swedish, Zara, Nanjing, China's, Jiangsu

☆ China's respiratory illness surge not as high as pre-pandemic- WHO official
▼ + stars: | 2023-11-27 | by ( Andrew Silver | ) www.reuters.com time to read: +1 min

SHANGHAI, Nov 27 (Reuters) - The spike in respiratory illnesses that China is currently going through is not as high as before the COVID-19 pandemic, a World Health Organisation official said, reiterating that no new or unusual pathogens had been found in the recent cases. And the waves that they’re seeing now, the peak is not as high as what they saw in 2018-2019," Van Kerkhove told health news outlet STAT in an interview on Friday. China's National Health Commission spokesperson Mi Feng said on Sunday the surge in acute respiratory illnesses was linked to the simultaneous circulation of several kinds of pathogens, most prominently influenza. The WHO said on Friday no new or unusual pathogens had been found in the recent illnesses. Reporting by Andrew Silver; Editing by Miyoung Kim and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Maria Van Kerkhove, Van Kerkhove, Mi Feng, Andrew Silver, Miyoung Kim Organizations: Health, World Health Organization, China, Program, WHO, Thomson Locations: SHANGHAI, China, Wuhan

☆ China says no unusual pathogens found after WHO queries respiratory outbreaks
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +5 min

The WHO had asked China for more information on Wednesday after groups including the Program for Monitoring Emerging Diseases (ProMED) reported clusters of undiagnosed pneumonia in children in north China. No unusual pathogens have been detected in the capital of Beijing and the northeastern province of Liaoning. The U.N. health agency had also asked China for further information about trends in the circulation of known pathogens and the burden on healthcare systems. WHO China said it was "routine" to request information on increases in respiratory illnesses and reported clusters of pneumonia in children from member states, such as China. The WHO said that while it was seeking additional information, it recommended that people in China follow measures to reduce the risk of respiratory illness.

Persons: Dado Ruvic, pneumoniae, Ben Cowling, Deena Beasley, Andrew Silver, Jennifer Rigby, Emma Farge, Urvi, Robert Birsel, Miyoung Kim, Josie Kao Organizations: REUTERS, World Health Organization, WHO, International, National Health Commission, FTV News, Hong Kong University, Health Commission, Xinhua, Influenza, Thomson Locations: China, Beijing, Liaoning, Wuhan, WHO China, Taiwan, Los Angeles, Shanghai, London, Geneva, Bengaluru

☆ Reaction to Sam Altman's return as OpenAI CEO
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +4 min

Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen Acquire Licensing RightsCompanies Openai LLC FollowNov 22 (Reuters) - OpenAI said on Tuesday it had reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom. THRIVE CAPITAL, OPENAI SHAREHOLDER"OpenAI has the potential to be one of the most consequential companies in the history of computing. "Sam Altman seems awfully powerful and it is unclear that any board would be able to oversee him. Altman and (Microsoft CEO) Nadella may have pushed to allow Altman a much freer hand."

Persons: Sam Altman, Amir Cohen, OpenAI, DANNI HEWSON, BELL, Altman, DANIELA HATHORN, Altman's, Greg, Brockman, ChatGPT's, would've, SUSANNAH STREETER, HARGREAVES LANSDOWN, Sam Altman's, KELVIN WONG, MAK, Nadella, hasn't, Supantha Mukherjee, Ankika Biswas, Bansari Mayur, Aditya Soni, Miyoung Kim, Nivedita Organizations: Microsoft, Tel Aviv University, REUTERS, BANK, OpenAI, MNC, OF, UNIVERSITY OF, UNIVERSITY OF SINGAPORE BUSINSS, Thomson Locations: Tel Aviv, Israel, UNIVERSITY OF SINGAPORE, OpenAI, Stockholm, Bengaluru

☆ Hybrid vehicle sales surge in China, posing fresh threat to foreign automakers
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +6 min

A Li L7 electric SUV by Li Auto is displayed at the Auto Shanghai show, in Shanghai, China April 18, 2023. One-third of total vehicle sales by Toyota, the world's top-selling automaker, are already hybrids and the company reported a 34% surge in hybrid sales in the six months to end-September, outpacing 9% growth in overall revenue. Sales of HEVs in China, which Toyota still dominates with four top-selling models, tumbled 15%, while gasoline car sales dropped 11%, underscoring potential challenges facing foreign automakers. But it was a failed trial, with sales of just over 4,000 units, and GM in 2020 halted sales. BYD is expanding PHEV sales overseas, offering Han, Qin and Song lineups in Latin America, which has less charging infrastructure.

Persons: Li Auto, Aly, Xu Min, Yale Zhang, BYD, Li, Han, Qin, Stellantis, Leapmotor, Xu, Bill Russo, Zhang Yan, Brenda Goh, Miyoung Kim, Gerry Doyle Organizations: Li, Auto, REUTERS, Rights, Toyota, Honda, Shanghai Jiao Tong University's Institute, Intelligent, Reuters, China Association of Automobile Manufacturers, HK, Automotive Foresight, Reuters Graphics, Prius, General Motors, Buick, GM, Li Auto, Jiao Tong University, HEVs, Thomson Locations: Auto Shanghai, Shanghai, China, Europe, U.S, outpacing, United States, Shanghai Jiao, Reuters Graphics CHINA, America, Leapmotor, North America

The startup's newly appointed interim head moved quickly to dismiss speculation that OpenAI's board ousted Altman due to a spat over the safety of powerful AI models. It was not clear why Murati had stepped down as interim CEO. [1/4]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. Some of those joining Altman at Microsoft include senior researchers Szymon Sidor and Jakub Pachocki, according to Brockman. Microsoft had supported a return by Altman to the startup, according to sources, a move that seemed likely only hours prior to Monday's announcements.

Persons: OpenAI, Emmett Shear, Sam Altman, Greg Brockman, OpenAI's, Altman, Shear, Ilya Sutskever, we've, Sutskever, Mira Murati, reinstates Altman, Brockman, Bret Taylor, Will Hurd, Murati, Carlos Barria, Richard Windsor, Satya Nadella, Szymon Sidor, Jakub Pachocki, Russ Mould, AJ Bell, Nadella, Jeffry Dastin, Anna Tong, Krystal Hu, Akash Sriram, Aditya Soni, Urvi, Shubham, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes, Susan Fenton, Chizu Nomiyama, Anil D'Silva Organizations: Microsoft, FRANCISCO, Google, OpenAI, Reuters, Economic Cooperation, REUTERS, Radio Free Mobile, Thomson Locations: OpenAI, Texas, Asia, San Francisco , California, U.S, San Franciso, New York, Bengaluru

In a statement on the social media platform X, Shear dismissed speculation that OpenAI's board ousted Altman because of a spat over the safety of powerful AI models. OpenAI dismissed Altman on Friday following a "breakdown of communications," according to an internal memo seen by Reuters. [1/4]Sam Altman, CEO of OpenAI, attends the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. In a separate post on X, Altman shared Nadella's message with the words, "the mission continues". loadingThe decision not to reinstate Altman as OpenAI's chief confounded efforts by investors and employees to steady the startup's path.

Persons: OpenAI, Emmett Shear, Sam Altman, Shear, OpenAI's, Altman, Satya Nadella, Greg Brockman, Carlos Barria, Nadella, Szymon Sidor, Brockman, Richard Windsor, Ilya Sutskever, Jeffry Dastin, Anna Tong, Urvi, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes, Susan Fenton Organizations: Microsoft, OpenAI, Reuters, Economic Cooperation, REUTERS, The, Radio Free Mobile, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, OpenAI, San Franciso, Bengaluru, New York

Companies Microsoft Corp FollowOpenai LLC FollowNov 20 (Reuters) - Sam Altman will not return as the CEO of OpenAI and ex-Twitch boss Emmett Shear will become the new interim boss, The Information reported on Sunday, citing board director Ilya Sutskever's statement to the company's staff. The report said distraught employees "streamed out" of OpenAI headquarters in San Francisco shortly after the decision was announced internally. [1/2]Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. The appointment of Shear also means that Murati will not stay as the interim CEO, the report said. If Altman returns to OpenAI, Microsoft (MSFT.O), its biggest backer, is considering taking a role on the board, the Information reported on Sunday, citing two people familiar with the talks.

Persons: Sam Altman, Emmett Shear, Ilya Sutskever's, Altman, Sutskever, OpenAI, Amir Cohen, Rights Altman, Greg Brockman, Mira Murati, Shear, Brockman, Szymon Sidor, Sidor, Urvi Dugar, Stephanie Kelly, Nivedita Bhattacharjee, Miyoung Kim, Sam Holmes Organizations: Microsoft, Reuters, Tel Aviv University, REUTERS, Rights, Sunday, Amazon.com Inc, OpenAI, Thomson Locations: San Francisco, Tel Aviv, Israel, Bengaluru, New York

☆ Tencent logs robust revenue growth as games, advertising sales shine
▼ + stars: | 2023-11-15 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song/File Photo Acquire Licensing RightsHONG KONG, Nov 15 (Reuters) - China's Tencent Holdings (0700.HK) said third-quarter revenue climbed 10%, as its games business staged a robust recovery from a regulatory crackdown on the country's tech sector and online advertising sales surged. In August, the video games sector raked in combined revenue of 29.2 billion yuan, the highest level in at least 20 months, according to CNG, a government-backed industry data firm. Tencent's online advertising business reported a 20% jump in revenue thanks to strong demand for advertising in its video content. Net profit declined 9% to 36.1 billion yuan from a year ago when the company had a strong quarter after divesting stakes in portfolio companies such as Sea.

Persons: Aly, Tencent, Josh Ye, Miyoung Kim, Edwina Gibbs Organizations: World Internet Conference, REUTERS, Tencent Holdings, HK, Riot Games, Thomson Locations: Wuzhen, Zhejiang province, China, HONG KONG

☆ SoftBank books $5.2 bln quarterly loss as investments and weak yen bite
▼ + stars: | 2023-11-09 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

The results underscore the volatility and risk inherent in founder Masayoshi Son's strategy of betting big on often risky start-ups. The Japanese conglomerate said it was squeezed by weakness in the yen that drove up costs on its dollar-denominated debt. SoftBank reported a 789 billion yen ($5.2 billion) net loss for the three months to end-September, compared with a 3.01 trillion yen profit a year earlier when it sold down a large portion of its stake in Chinese e-commerce giant Alibaba (9988.HK). Its Vision Fund investment unit, meanwhile, booked an investment profit of 21.4 billion yen in the latest quarter, after posting a 160 billion yen profit three months earlier. SoftBank said it exchanged unsecured WeWork notes into shares and convertible bonds and reflected a 21.6 billion yen loss from the transaction in the first half.

Persons: Thomas Peter, Masayoshi, SoftBank, Anton Bridge, Miyoung Kim, David Dolan, Tom Hogue Organizations: REUTERS, Rights, SoftBank, HK, Vision Fund, Thomson Locations: Tokyo, WeWork

☆ China health sector sees better sentiment from anti-graft drive - execs
▼ + stars: | 2023-11-09 | by ( Andrew Silver | ) www.reuters.com time to read: +2 min

SHANGHAI, Nov 9 (Reuters) - Business activities in China's healthcare sector are returning from a sudden near freeze that began in July when Beijing kicked off a year-long anti-corruption campaign, two foreign industry executives said. The campaign targets the bribing of doctors in drug and medical equipment sales and marks a sharp escalation of an anti-corruption drive in the sector that started years ago. The latest campaign has sent a chill through the sector, pummeling healthcare stocks and prompting some firms to cancel IPOs. The anti-graft drive initially caused huge business disruptions and many multinational pharmaceutical firms lost engagement with hospitals, executives said. China is one of the biggest healthcare markets for global healthcare companies but their business sentiment has turned fragile this year due to factors including the anti-graft drive.

Persons: We’ve, Larry Merizalde, Merizalde, Andrew Silver, Miyoung Kim, Robert Birsel Organizations: Beijing, Reuters, South, AstraZeneca, National Health Commission, Thomson Locations: SHANGHAI, China, Shanghai

☆ SoftBank makes another bet on WeWork, hoping landlords will too
▼ + stars: | 2023-11-07 | by ( Anton Bridge | ) www.reuters.com time to read: +3 min

WeWork seeks bankruptcy protectionLIMITED EXPOSUREWeWork's dramatic fall followed lavish predictions about its prospects from SoftBank founder Masayoshi Son, despite immense losses as it grew. Still, it had a credit support deal with the company worth $1.1 billion as of end-June. MST Financial analyst David Gibson said the credit support was significant, but it was not clear how much of it had been withdrawn. SoftBank declined to comment on the credit support. SoftBank owns around 71% of WeWork, which it privately valued at $47 billion at its peak but is now valued at just $44 million.

Persons: SoftBank, Adam Neumann, Neumann, WeWork, Masayoshi Son, Son, David Gibson, Anton Bridge, David Dolan, Miyoung Kim, Mark Potter Organizations: Thomson Locations: TOKYO

A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. The source, who declined to be named because the information was confidential, said Intel had made that decision around July. Intel is also expanding its investment in chip packaging in Malaysia, one of Vietnam's main Southeast Asian rivals. "You cannot take for granted that because Intel has already invested here it will invest more," Chung Seck, partner at law firm Baker & McKenzie Vietnam told Reuters. Asked about the possible investment plan at the time, Intel told Reuters: "Vietnam is an important part of our global manufacturing network, but we have not announced any new investments."

Persons: Dado Ruvic, Joe Biden, Biden's, Tran Luu Quang, chipmakers, Chung Seck, Baker, McKenzie, Francesco Guarascio @fraguarascio, Max Cherney, Khanh, Miyoung Kim Organizations: REUTERS, Rights, Intel, U.S, Reuters, Vietnam's, White House, Marvell, McKenzie Vietnam, Thomson Locations: Rights HANOI, Vietnam, China, Taiwan, United States, U.S, Hanoi, Europe, Malaysia, San Francisco, Khanh Vu

☆ India developers seek to cash in on soaring EV sales with residential chargers
▼ + stars: | 2023-11-06 | by ( Ajose Koilparambil | ) www.reuters.com time to read: +3 min

[1/2] Electric Vehicle(EV) charging units are seen at a parking lot of Sobha city, a real estate property, in Gurugram, India, October 27, 2023. REUTERS/Anushree Fadnavis Acquire Licensing RightsNov 6 (Reuters) - More developers in India are putting electric vehicle chargers in parking slots of new developments, hoping to boost the value of the property and attract more buyers in a country where the charging infrastructure can't keep up with soaring EV sales. While EVs accounted for just 2.4% of India's vehicle sales in the first half of this year, EV sales grew 137% to 48,000 units during the same period, research firm Canalys says. The world's most populous nation is aiming to make EVs account for a third of total vehicle sales by 2030, but scarcity of public charging stations could derail these ambitions. Sobha has gone a step further and launched two residential projects in Bengaluru with EV charging facilities in all available parking slots.

Persons: Anushree, Canalys, Javed Shafiq Rao, Ravneet Phokela, Aby Jose Koilparambil, Dhanya Skariachan, Miyoung Kim Organizations: REUTERS, Alliance for Automotive Innovation, Prestige, EV, Mahindra Lifespace, Brigade, DLF, Ather Energy, Survey, Thomson Locations: Gurugram, India, United States, Bengaluru, Delhi, Uttar Pradesh

☆ Kakao faces growing regulatory risks as political scrutiny rises
▼ + stars: | 2023-11-03 | by ( Joyce Lee | ) www.reuters.com time to read: +4 min

The Kakao messaging application and the Kakao T taxi booking application are seen on a mobile phone in this illustration photo March 13, 2018. South Korean President Yoon Suk Yeol told a public meeting on Wednesday that the market behaviour of Kakao Mobility's taxi-hailing service was monopolistic and required a review. Its regulatory troubles escalated last month when one of its executives was arrested for suspected stock market manipulation during its acquisition of K-Pop agency SM Entertainment (041510.KQ). Last week, regulator Financial Supervisory Service (FSS) said it will refer Kakao, its affiliate Kakao Entertainment and executives involved in the SM Entertainment acquisition to public prosecutors for suspected violation of the Capital Markets Act. "It is necessary to pay attention to legal risks, as problems may arise in the status of KakaoBank depending on the probes' results."

Persons: Thomas White, Yoon Suk Yeol, Kakao, Oh Dong, hwan, Joyce Lee, Miyoung Kim, Sam Holmes Organizations: REUTERS, Kakao Corp, Naver Corp, Reuters, Mobility, SM Entertainment, Financial Supervisory Service, Kakao Entertainment, Pension Service, NPS, Samsung Securities, Thomson Locations: SEOUL, Korean, Kakao

An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, November 23, 2021. LGES, which supplies Tesla (TSLA.O), General Motors (GM.N) and other automakers, said revenue growth in 2024 would not be as high as the mid-30% rate forecast for this year. LGES shares dropped as much as 6.69% to the lowest level in more than 12 months, versus the benchmark KOSPI's (.KS11) 0.6% fall. The company also said it would produce cheaper lithium iron phosphate (LFP) batteries from 2026 to better respond to demand for lower-priced EVs. But it was down 6% from the June quarter due to the demand slowdown in Europe, production adjustments by automakers and lower metal prices.

Persons: Kim Hong, Lee Chang, sil, Kim Gyunghoon, Kim, Kang Dong, LGES, 1,345.0800, Heekyong Yang, Joyce Lee, Miyoung Kim, Jamie Freed Organizations: LG Energy, REUTERS, GM JV, Korean, EV, General Motors, GM, Hyundai Motor Securities, Thomson Locations: Seoul, South Korea, SEOUL, China, Europe, Poland, U.S, Ohio, ARIZONA, Arizona

☆ Three Listed Chinese Firms Used Endangered Animal Parts as Ingredients Report
▼ + stars: | 2023-10-22 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

In a report published Monday, the London-based Environmental Investigation Agency urged global investors in the three firms - Beijing Tong Ren Tang group, Tianjin Pharmaceutical group and Jilin Aodong Pharmaceutical Group - to divest their stakes. The group said it focused on the pharmaceutical companies because they are publicly listed, and display products that include leopard or pangolin parts on their websites. Beijing Tong Ren Tang and Tianjin Pharmaceutical group did not respond to several emails and calls from Reuters asking for comment. Jilin Aodong Pharmaceutical Group could not be reached for comment. The environmental group said Deutsche Bank, HSBC Holdings, Citigroup and BlackRock did not respond to its queries.

Persons: Andrew Silver, Selena Li SHANGHAI, Beijing Tong Ren Tang, Avinash Basker, Wells, China's, Selena Li, Miyoung Kim, Miral Organizations: Reuters, UBS, HSBC, Environmental Investigation Agency, Tianjin Pharmaceutical, Jilin Aodong Pharmaceutical, TCM, Deutsche Bank, HSBC Holdings, Citigroup, Co, HSBC Global Asset Management Canada, Royal Bank of Canada, BlackRock, Citigroup ， Deutsche Bank, Medical Products Administration, Protection Locations: HONG KONG, London, Beijing, Tianjin, Jilin, BlackRock, Shanghai, Hong Kong

In a report published Monday, the London-based Environmental Investigation Agency urged global investors in the three firms - Beijing Tong Ren Tang group (600085.SS), Tianjin Pharmaceutical group (600329.SS) and Jilin Aodong Pharmaceutical Group (000623.SZ) - to divest their stakes. The group said it focused on the pharmaceutical companies because they are publicly listed, and display products that include leopard or pangolin parts on their websites. Beijing Tong Ren Tang and Tianjin Pharmaceutical group did not respond to several emails and calls from Reuters asking for comment. Jilin Aodong Pharmaceutical Group could not be reached for comment. The environmental group said Deutsche Bank, HSBC Holdings, Citigroup and BlackRock did not respond to its queries.

Persons: pangolin, Seun, Beijing Tong Ren Tang, Avinash Basker, Wells, China's, Andrew Silver, Selena Li, Miyoung Kim Organizations: REUTERS, Rights, UBS, HSBC, Environmental Investigation Agency, Tianjin Pharmaceutical, Jilin Aodong Pharmaceutical, TCM, Deutsche Bank, HSBC Holdings, Citigroup, BlackRock, & Co, HSBC Global Asset Management Canada, Royal Bank of Canada, Citigroup ， Deutsche Bank, Reuters, Medical Products Administration, Protection, Thomson Locations: Lagos, Nigeria, Rights SHANGHAI, HONG KONG, London, Beijing, Tianjin, Jilin, Shanghai, Hong Kong

☆ Analysts' comments on China's export permits for some graphite products
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

Here is what analysts are saying about the measure:IVAN LAM, SENIOR ANALYST, COUNTERPOINT RESEARCH:"In addition to China, other countries and regions also implement graphite export controls. Graphite has a wide range of applications in industry, and the demand for its use is growing. KANG DONG-JIN, ANALYST AT HYUNDAI SECURITIES IN SEOUL:"It's not that China would suddenly stop export graphite, but it would be more intensely regulated and reviewed. It is still unclear how far China would take this graphite export curb, which would determine the supply chains. "With this new graphite export curb, South Korean firms - or South Korea in general, which heavily rely on China for graphite imports, would need to seek alternatives, such as mines from the United States or Australia, but it would likely increase cost burden for many."

Persons: Aly, IVAN LAM, CHRISTOPHER RICHTER, you've, KANG DONG, JIN, Brenda Goh, Daniel Leussink, Heekyong Yang, Miyoung Kim, Nivedita Organizations: REUTERS, Rights, EU, Thomson Locations: Port, Shanghai, China, Rights SINGAPORE, Russia, Ukraine, TOKYO, SEOUL, South Korea, United States, Australia, Tokyo, Seoul

The announcement sent shares of Daiichi Sankyo (4568.T) up 12% in early trading in Tokyo on Friday, raising expectations for its cancer drug pipeline. The companies will jointly and potentially commercialise the drug candidates worldwide, except in Japan where Daiichi Sankyo will maintain exclusive rights, they said. Merck will pay Daiichi Sankyo $4 billion upfront in addition to $1.5 billion in continuation payments over the next two years. Merck may make additional payments of up to $16.5 billion contingent on future sales milestones, or $5.5 billion for each product. Daiichi Sankyo has six ADC candidates in its pipeline, including two being jointly developed with AstraZeneca (AZN.L).

Persons: Andrew Kelly, Drugmaker Merck, patritumab, ifinatamab, raludotatug, Merck, David Dolan, Kanjyik Ghosh, Miyoung Kim, Jamie Freed Organizations: Merck & Co, REUTERS, Merck, AstraZeneca, Thomson Locations: Kenilworth , New Jersey, U.S, TOKYO, Daiichi, Tokyo, Japan, Bengaluru

☆ EV battery firm CATL's Sept China market share slumps, bodes ill for Q3 results
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

People walk past the booth of the battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) at the Auto Shanghai show, in Shanghai, China April 18, 2023. CATL reports quarterly results on Thursday, and investors will be on the look out for the extent the world's largest EV battery maker bore the brunt of the EV sales slowdown in China and rising pressure from automakers to cut battery prices. "This... is an incentive for CATL to offer some price cuts to secure its market share." CATL's setback also comes amid weakening EV sales in China that stoked an intense price war among automakers and a subsequent cost reduction pressure on battery firms and other suppliers. Shares in Shenzhen-listed CATL dropped 15% so far this year, lagging a 6% drop in broader market (.CSI300).

Persons: Aly, Qiaoyi Li, Zhang Yan, Brenda Goh, Miyoung Kim Organizations: Amperex Technology, ., Auto, REUTERS, Rights, Electric, EV, Citi, China Automotive Battery Innovation Alliance, HK, LSEG, Ford, Thomson Locations: Auto Shanghai, Shanghai, China, Rights BEIJING, Michigan, U.S, Shenzhen

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Oct 19 (Reuters) - Japan's top banks are set to commit to 1.9 trillion yen ($12.7 billion) financing to support the merger of Kioxia Holdings and Western Digital's flash memory business, four people familiar with the matter told Reuters. Several tech deals have been scuppered in recent years due to delays in regulatory approvals or rejections by China. 2 player in NAND flash memory chips - and Western Digital's fourth-ranked flash business, would control a third of the global NAND flash market, on par with top player Samsung Electronics (005930.KS). Kioxia and Western Digital have held merger talks since 2021 but the negotiations have often stalled over a series of issues including valuation discrepancies. In Japan, the two companies jointly produce NAND flash memory chips, which are widely used in smartphones, personal computers and other devices to store digital data.

Persons: Kim Kyung, Bain, Nobuo Hayasaka, Makiko Yamazaki, Miho Uranaka, Maki Shiraki, Miyoung Kim, Tomasz Janowwski Organizations: REUTERS, Rights, Kioxia Holdings, Reuters, Intel Corp, China ., Sumitomo Mitsui Financial Group, Mizuho Financial Group, Mitsubishi UFJ Financial, Development Bank of Japan, SK Hynix, Toshiba Corp, Samsung Electronics, Nasdaq, Western, Mitsubishi, Mizuho, Sumitomo Mitsui, Western Digital, Thomson Locations: Tokyo, Japan, China, Kioxia

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