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☆ South Korea's Yoon says any military cooperation with North Korea must stop
▼ + stars: | 2023-09-06 | by ( Jack Kim | ) www.reuters.com time to read: +3 min

South Korean President Yoon Suk-yeol, center, arrives to the ASEAN-South Korea Summit at the Association of the Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, September 6, 2023. Tatan Syuflana/Pool via REUTERS Acquire Licensing RightsSEOUL, Sept 6 (Reuters) - South Korean President Yoon Suk Yeol said on Wednesday any attempt to cooperate with North Korea on military affairs in a way that damages international peace must immediately halt. "Attempt at military cooperation with North Korea that harms international peace must immediately halt," Yoon's office quoted him as saying at a meeting with the leaders of ASEAN countries. North Korea and Russia have denied they were in arms negotiations. Before the pandemic, China hosted the largest number of North Korean workers abroad, with as many as half of the estimated 100,000 people earning more than $500 million a year.

Persons: Yoon Suk, Tatan, Yoon Suk Yeol, Yoon, Kim Jong Un, Vladimir Putin, Kim, Sergei Shoigu, Fumio Kishida, Li Qiang, Jack Kim, Soo, hyang Choi, Muralikumar Anantharaman, Christopher Cushing Organizations: South, ASEAN, South Korea Summit, Association of, Southeast Asian Nations, REUTERS Acquire, Rights, New York Times, Japanese, Security, Thomson Locations: Jakarta, Indonesia, Rights SEOUL, North Korea, Russia, Vladivostok, Moscow, Ukraine, South Korea, China, Korean, Seoul

☆ Nissan to delay new SUV production by 6 months in Mexico due to stolen mold -Nikkei
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

The brand logo of Nissan Motor Corp. is displayed during a press preview of the company's new Ariya all-battery SUV, ahead of the world premiere, at Nissan Pavilion in Yokohama, south of Tokyo, Japan July 14, 2020. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Sept 5 (Reuters) - Nissan Motor (7201.T) will delay the start of production of its next "Kicks" SUV model in Mexico by about six months after some mold components were stolen at a local supplier, the Nikkei newspaper reported on Tuesday. Production of the remodelled "Kicks" had been due to start in December, but will now likely begin around June 2024, the paper said. Nissan builds the Kicks at its Aguascalientes plant in Mexico for sale in the North American market. The model accounted for 8% of its U.S. sales last year, with about 54,000 units sold, the Nikkei said.

Persons: Issei Kato, Chang, Ran Kim, Mariko Katsumura, Muralikumar Anantharaman, Jacqueline Wong Organizations: Nissan Motor Corp, Nissan, REUTERS, Rights, Nikkei, Thomson Locations: Yokohama, Tokyo, Japan, Mexico, Aguascalientes

☆ Baidu CEO says more than 70 large AI language models released in China
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

An AI (Artificial Intelligence) sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Sept 5 (Reuters) - More than 70 large artificial intelligence language models with over 1 billion parameters have been released in China, Baidu Inc (9888.HK) CEO Robin Li told an industry event in Beijing on Tuesday. Baidu joins several other Chinese companies that launched AI chatbots last week after securing regulatory approval for mass market releases. These include facial recognition firm SenseTime (0020.HK) and AI startups Baichuan Intelligent Technology, Zhipu AI, and MiniMax. Li said the latest version of Baidu's AI chatbot, Ernie 3.5, has processing speed twice that of the previous version with 50% improved efficiency.

Persons: Aly, Robin Li, Baidu, Li, Ernie, Yelin Mo, Brenda Goh, Muralikumar Organizations: Artificial Intelligence, REUTERS, Rights, Baidu Inc, HK, Technology, Baidu, Thomson Locations: Shanghai, China, Rights BEIJING, Beijing

☆ Jill Biden positive for COVID, President Biden tests negative, White House says
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

[1/4] U.S. President Joe Biden and first lady Jill Biden walk to Marine One on the South Lawn of the White House in Washington, U.S., September 2, 2023. "This evening, the First Lady tested positive for COVID-19," her communications director, Elizabeth Alexander, said in a statement. "Following the First Lady’s positive test for COVID-19, President Biden was administered a COVID test this evening," the White House said. "The President tested negative. The White House did not immediately respond to a request for comment on whether Biden’s foreign travel could be affected.

Persons: Joe Biden, Jill Biden, Ken Cedeno, Elizabeth Alexander, Biden, Biden's, Ismail Shakil, Matt Spetalnick, Trevor Hunnicutt, Muralikumar Anantharaman, Gerry Doyle Organizations: White, REUTERS, Rights, Sunday, Thomson Locations: Washington , U.S, India, Rehoboth Beach , Delaware, Delaware, New Delhi, Hanoi

☆ Shares, oil rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, oil traded near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend voluntary oil production cuts into October. Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, I'm, Craig Erlam, we're, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema, Ed Osmond Organizations: Federal Reserve, Country Garden, Lazard, Investor, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, European Central Bank, Brent, Thomson Locations: United States, Beijing, China, Europe, U.S, Saudi Arabia, Sydney

☆ Shares, commodities rise as sentiment towards China brightens
▼ + stars: | 2023-09-04 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.1%, having climbed 2.3% last week, thanks in large part to a 1.3% rise in Chinese blue chips (.CSI300). S&P 500 futures and Nasdaq futures rose between 0.2%-0.3%, while European stocks neared one-month highs. At least seven Fed officials are due to speak this week ahead of the next policy meeting on Sept. 19-20. In commodities, gold benefited from the diminished risk of a U.S. rate rise to stand at $1,940 an ounce . Brent crude futures rose 0.2% to $88.75 a barrel, as did U.S. futures , reaching $85.73.

Persons: Ron Temple, Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore, Sonia Cheema Organizations: Federal Reserve, Country Garden, Lazard, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: China, United States, Beijing, Asia, Pacific, Japan, drugmaker Novo, Canada, Australia, U.S, Saudi Arabia

"Whether this bounce will continue remains to be seen, but it has given China equities a shot in the arm." S&P 500 futures and Nasdaq futures both edged up 0.1%, while stocks in Europe opened on a strong footing. "The soft landing crowd will be pleased that the labour market is softening without much stress at the moment," Deutsche Bank strategist Jim Reid. Any path to a hard landing, outside of a shock, has to go via signs of a soft landing first," he said. Brent crude futures were steady on the day at $88.50 a barrel, while U.S. futures were also flat at $85.55.

Persons: Jim Reid, Christine Lagarde, Wayne Cole, Shri Navaratnam, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Federal Reserve, Country Garden, RBC Capital Markets, Holdings, Nasdaq, drugmaker Novo Nordisk, August's U.S, Deutsche Bank, European Central Bank, Brent, Thomson Locations: U.S, China, SYDNEY, United States, Beijing, Shanghai, Asia, Pacific, Japan, Europe, drugmaker Novo, Canada, Australia, Saudi Arabia

☆ Asia shares extend rally as China mood turns less bleak
▼ + stars: | 2023-09-04 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. There was relief that embattled property developer Country Garden won approval from its creditors to extend payments for an onshore private bond. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 1.0%, having climbed 2.3% last week. EUROSTOXX 50 futures added 0.3% and FTSE futures rose 0.4%. Central banks in Canada and Australia hold their own meetings this week and both are expected to hold rates steady.

Persons: Aly, Stocks, Goldman Sachs, Treasuries, Christine Lagarde, Brent firmed, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Federal, Country Garden, Japan's Nikkei, Nasdaq, Holdings, Federal Reserve, European Central Bank, Thomson Locations: Shanghai, Shenzhen, China, U.S, SYDNEY, Beijing, United States, Asia, Pacific, Japan, Canada, Australia, Saudi Arabia

☆ Tencent, others begin enforcing China's new oversight move on apps
▼ + stars: | 2023-09-04 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

The moves comply with new rules introduced last month as Beijing tightens oversight of mobile apps in the country. "The Android app stores have confirmed that new apps require the app filings from Friday onwards, and existing apps must have it from March 31 onwards," Rich Bishop, CEO of app publishing firm AppInChina said. "It forces all global apps on these app stores to either establish a local entity or work with a local partner." As of Monday, it is not yet checking apps' filing status, AppInChina said, citing its own checks. The notice also said app stores will have to clearly mark each app's filing status on their platforms.

Persons: Aly, Rich Bishop, AppInChina, Vivo, Tencent's, MIIT, Josh Ye, Brenda Goh Organizations: World Internet Conference, REUTERS, Tencent Holdings, HK, Reuters, Tencent, Huawei Technologies, Apple, Ministry of Industry, Information Technology, Huawei, Xiaomi, Thomson Locations: Wuzhen, Zhejiang province, China, HONG KONG, Beijing

The boost to formal ties could bring billions of dollars of new private investment and some public funds to Vietnam's semiconductor industry. But industry officials, analysts and investors said that the small pool of trained experts will be a crucial hurdle for the rapid development of the chip industry. There's also a risk of inadequate supply of trained chips software engineers, said Hung Nguyen, senior program manager on supply chains at RMIT University Vietnam. The White House has not specified which segments of the chips industry in Vietnam will be prioritised, but U.S. industry executives have indicated that the back-end is a key growth sector. More private investment could come, especially if a significant share of the $500 million available under the U.S. CHIPS Act for global semiconductor supply chains ends up in Vietnam.

Persons: Joe Biden, Kevin Lamarque, Biden, Thanh, There's, Hung Nguyen, CHINA'S, Amkor, Janet Yellen, Hung, Francesco Guarascio, Steve Holland, Trevor Hunnicutt, Khanh Vu, Phuong, Muralikumar Organizations: U.S . Army, White, REUTERS, Companies, ASEAN Business Council, RMIT University Vietnam, Boston Consulting Group, Reuters, Intel, U.S . Treasury, Marvell, Thomson Locations: Vietnam, Washington , U.S, Hanoi, Washington, Vietnam Vietnam, HANOI, U.S, China, United States, Taiwan, Beijing, The U.S, Malaysia, India, Europe, Phuong Nguyen

The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. Industrial and Commercial Bank of China Ltd (ICBC) (601398.SS), the country's biggest lender, and Bank of China (BoC) (601988.SS) posted in exchange filings first half profit growth of 1.2% and 0.78%, respectively, from a year earlier. "There are some regional risks that have begun to emerge," Liu said, adding that asset quality has declined slightly but remains under control. BoC's NIM narrowed to 1.67% at end-June from 1.7% at end-March. "Chinese banks are likely to continue to face earnings pressure from margin compression," said Ming Tan, director at S&P Global Ratings.

Persons: Florence, Liu Jiandong, Liu, NIM, BoC's NIM, ICBC, Ming Tan, Tan, BoC's, Ziyi Tang, Engen Tham, Selena Li, Muralikumar Anantharaman, Mark Potter, Kirsten Donovan Organizations: Industrial, Commercial Bank of China, REUTERS, BoC, Commercial Bank of China Ltd, Bank of China, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, HONG KONG, ICBC's

☆ Top China bank ICBC posts 1.2% H1 profit rise
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: 1 min

The logo of Industrial and Commercial Bank of China (ICBC) is pictured at the entrance to its branch in Beijing, China April 1, 2019. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Aug 30 (Reuters) - Industrial and Commercial Bank of China Ltd (ICBC) (601398.SS), the country's biggest lender, said on Wednesday net profit grew 1.2% year-on-year in the first half of this year. Profit was 173.74 billion yuan ($23.83 billion) for the first half of this year, compared with the restated 171.67 billion yuan in the same period a year earlier, the bank said in a filing. ($1 = 7.2543 Chinese yuan renminbi)Reporting by Ziyi Tang, Engen Tham and Selena Li; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence, Ziyi Tang, Engen Tham, Selena Li, Muralikumar Organizations: Industrial, Commercial Bank of China, REUTERS, Rights, Commercial Bank of China Ltd, Profit, Thomson Locations: Beijing, China, Rights BEIJING

Jens Eskelund, President of the European Union Chamber of Commerce in China, attends an interview with Reuters in Beijing, China August 21, 2023. REUTERS/Florence Lo/File Photo Acquire Licensing RightsBEIJING, Aug 30 (Reuters) - The European Union Chamber of Commerce in China said on Wednesday that it would not use the term "uninvestable" to describe China, in response to a comment from the United States. U.S. Commerce Secretary Gina Raimondo said late Tuesday American firms had increasingly used the term to describe China, prompting Beijing to defend its business practices and approach to foreign investment. "‘Uninvestable’ is not a term we would use to describe China," Jens Eskelund, president of the EU chamber, said in an emailed response to questions from Reuters on Raimondo's remarks. Reporting by Laurie Chen; Writing by John Geddie; Editing by Muralikumar Anantharaman, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Jens Eskelund, Florence, Gina Raimondo, Raimondo, Eskelund, Laurie Chen, John Geddie, Muralikumar Anantharaman, Robert Birsel Organizations: European Union Chamber of Commerce, Reuters, REUTERS, Rights, U.S . Commerce, EU, Thomson Locations: China, Beijing, Rights BEIJING, United States, Europe

☆ BOJ policymaker signals chance of policy tweak early next year
▼ + stars: | 2023-08-30 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

The remarks are the strongest signal to date by a Bank of Japan (BOJ) policymaker that rising inflation and wages could prod the bank to take bolder steps towards phasing out its radical stimulus. "About a decade has passed since the BOJ began efforts to sustainably and stably achieve its 2% inflation target. For now, the BOJ must sustain monetary easing to scrutinise wage and price developments, said the former commercial banker. "Abandoning negative rates will obviously be among options" if the BOJ were to normalise policy, he said. "Even if the BOJ were to end negative rates, it won't be scaling back monetary easing as long as it can keep interest rates low."

Persons: Issei Kato, Tamura BOJ, KUSHIRO, Naoki Tamura, Tamura, Kazuo Ueda, Shinichi Uchida, Ueda, Leika Kihara, Muralikumar Anantharaman, Sam Holmes Organizations: Bank of Japan, REUTERS, Reuters, Thomson Locations: Tokyo, Japan

☆ Defending champion Alcaraz advances as injured Koepfer retires
▼ + stars: | 2023-08-30 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

The 20-year-old top seed from Spain was leading 6-2, 3-2 when Koepfer retired, having rolled his ankle at a grimace-inducing angle minutes into the match. Alcaraz will play Lloyd Harris of South Africa in the second round. "He's a great player, he has big shots so I have to be really focused on the match," said Alcaraz. Koepfer buried his head in his towel after Alcaraz forced him into a forehand error to convert on a break point chance in the seventh game. Koepfer fended off a pair of break point chances in the fifth game before solemnly walking to the net to resign.

Persons: Spain's Carlos Alcaraz, Germany's Dominik Koepfer, Shannon Stapleton, Carlos Alcaraz, Dominik Koepfer, Arthur Ashe, Koepfer, Alcaraz, Lloyd Harris of, Novak, Frenchman Alexandre Muller, Amy Tennery, Neil Fullick Organizations: Tennis, Germany's Dominik Koepfer REUTERS, U.S, Wimbledon, Thomson Locations: Flushing Meadows , New York, United States, Spain, Lloyd Harris of South Africa, German, New York

The logo of the Adani Group is seen on the facade of its Corporate House on the outskirts of Ahmedabad, India, January 27, 2023. Citing review of files from multiple tax havens and internal Adani Group emails, nonprofit media organization OCCRP said its investigation found at least two cases where the investors bought and sold Adani stock through such offshore structures. Adani Group has called Hindenburg's claims misleading and without evidence and said it always complied with laws. Adani Group did not immediately respond to a Reuters request for comment on the OCCRP report. In an interview with a reporter from the Guardian, OCCRP said Chang said he knew nothing about any secret purchases of Adani stock.

Persons: Amit Dave, OCCRP, Adani, Hindenburg, Gautam, India's, Nasser Ali Shaban Ahli, Chang Chung, Ling, Chang, Aditya Kalra, Krishn Kaushik, Lisa Shumaker Organizations: Adani, REUTERS, DELHI, Hindenburg Research, Reuters, HINDENBURG, Securities, Exchange Board of India, Guardian, Thomson Locations: Ahmedabad, India, Mauritius, Ahli

☆ Former champion Venus Williams suffers early U.S. Open exit
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

The Belgian smacked 24 winners and saved all six break points she faced to dispatch the veteran American, who she reveres. The hard-hitting Minnen would break the next game at love and cruise to victory in the match that lasted just 75 minutes. Even when I hit really amazing shots, she just hit a winner or a dropshot, so I don't think I played badly. "I was very much aware that Serena wouldn't be playing the tournament, so I think I was okay. Reporting by Rory Carroll in Los Angeles; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Venus Williams, Belgium's, Minnen, Shannon Stapleton, Venus, Williams, it's, Serena, Serena wouldn't, I've, Rory Carroll, Muralikumar Organizations: Tennis, Minnen REUTERS, U.S, Thomson Locations: Flushing Meadows , New York, United States, Belgian, Flushing Meadows, Los Angeles

☆ China publishes rules to boost data security in money brokering
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Aug 30 (Reuters) - China published rules on Wednesday aimed at boosting data security in the money brokering industry, five months after a disruption in data services caused two days of chaos in the country's $21 trillion bond market. Five financial watchdogs, including the central bank as well as forex and securities regulators, urged interdealer brokers to improve data and risk management, and safeguard data security. Interdealer brokers, when offering data services, "must not endanger national security, financial safety and public interest," the regulators said in a joint statement. Chinese regulators in March suspended the data feed business of money brokers, citing data security concerns, triggering a slump in bond trading turnover as many traders lost immediate access to real-time data. China has in recent years grown more concerned over data security and rolled out new laws and compliance requirements for companies.

Persons: LSEG, Tullett, Jacqueline Wong, Muralikumar Anantharaman, Mark Potter Organizations: China Foreign Exchange Trade System, Shanghai Stock Exchange, Information Co, Refinitiv Information Services, Co, Bloomberg L.P, Thomson Reuters, London Stock Exchange, Reuters, NEX International, Partners, Central, Financiere, National Administration of Financial, Cyberspace Administration, Shanghai, Thomson Locations: SHANGHAI, China, LSEG ., Central Tanshi

☆ Japan considering extending gasoline subsidies to year-end - sources
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Gasoline fuel guns are pictured in front of fuel boards at a gasoline station in Tokyo, Japan September 20, 2022. REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsTOKYO, Aug 29 (Reuters) - Japan's government is considering extending until year-end fuel subsidies to keep gasoline prices below 180 yen a litre, while working on a supplementary budget to finance broader measures, three people with direct knowledge of the matter said. Earlier, the sources had said the fuel subsidies would be funded by the supplementary budget. Last week, Prime Minister Fumio Kishida instructed ruling party officials to consider steps to extend the fuel subsidies which were introduced in January 2022 to help ease cost of living pressures. Gasoline prices have been rising steadily in Japan due to the weaker yen and higher global prices.

Persons: Kim Kyung, Komeito, Toshimitsu Motegi, Shunichi Suzuki, Fumio Kishida, Yoshifumi Takemoto, Tetsushi Kajimoto, Katya Golubkova, Muralikumar Anantharaman Organizations: REUTERS, Rights, Liberal Democratic Party, Finance, Thomson Locations: Tokyo, Japan

But Indian billionaire Mukesh Ambani snatched IPL rights away in a $2.9 billion bid last year, and then streamed games for free. Soon, Disney subscribers fled - out of 61 million users in October, roughly 21 million had left by July. It retains digital streaming rights but last year licensed the TV broadcast rights to Indian's Zee Entertainment (ZEE.NS) for around $1.5 billion, a source said. In the United States, ad-free Disney+ streaming service subscription rates are set to rise by 27% to $13.99 per month. By contrast in India, Disney+ Hotstar service costs $3.62 a month.

Persons: Anushree, India's Ambani Hotstar, Walt Disney, Disney, Mukesh Ambani, That's, JioCinema, Sivanandan, Daoud Jackson, Bob Iger's, Nancy Lee, Ambani, Aditya Kalra, Munsif, Dawn Chmielewski, Muralikumar Organizations: ICC Men's Cricket, REUTERS, Companies Disney India, Century Fox, Indian Premier League, Disney, Reuters, Asia, Cricket, Indian's Zee Entertainment, IPL, Blume Ventures, Hotstar, Staff, Media Partners, Netflix, JioCinema, Thomson Locations: Gurugram, India, Burbank, Disney India, United States, New Delhi, Bengaluru, Dawn, Los Angeles

☆ Taiwan warns of 'sharp increase' in tensions as Chinese planes cross median line
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Airplane is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsTAIPEI, Aug 29 (Reuters) - Taiwan's defence ministry warned on Tuesday of a possible "sharp increase" in military tensions after reporting renewed Chinese military activity including fighter jets crossing the sensitive median line of the Taiwan Strait. The ministry said that on Tuesday morning it spotted 12 Chinese military aircraft in its air defence identification zone, of which seven crossed the median line - six J-10 fighters and a single drone. The median line had for years served as an unofficial barrier between the two sides, until China's air force began regularly crossing it a year ago. Taipei city councillors for Taiwan's governing Democratic Progressive Party issued a joint statement saying Chiang should "speak for the Taiwanese people" and demand an end to China's military activities.

Persons: Dado Ruvic, Chiang Wan, Chiang, Ben Blanchard, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Rights, Communist, Kuomintang, Democratic Progressive Party, Thomson Locations: Rights TAIPEI, Taiwan Strait, Taiwan, China, Beijing, Taipei, Shanghai

☆ Taiwan warns of surge in tensions as Chinese planes cross median line
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Airplane is seen in front of Chinese and Taiwanese flags in this illustration, August 6, 2022. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsTAIPEI, Aug 29 (Reuters) - Taiwan's defence ministry warned on Tuesday of a possible "sharp increase" in military tensions after reporting renewed Chinese military activity including fighter jets crossing the sensitive median line of the Taiwan Strait. The ministry said that on Tuesday morning, it spotted 12 Chinese military aircraft in its air defence identification zone, of which seven crossed the median line - six J-10 fighters and a single drone. The median line had for years served as an unofficial barrier between the two sides, until China's air force began regularly crossing it a year ago. Taipei city councillors for Taiwan's governing Democratic Progressive Party issued a joint statement saying Chiang should "speak for the Taiwanese people" and demand an end to China's military activities.

Persons: Dado Ruvic, Chiang Wan, Chiang, Ben Blanchard, Muralikumar Anantharaman, Simon Cameron, Moore, Bernadette Baum Organizations: REUTERS, Rights, Communist, Kuomintang, Democratic Progressive Party, Thomson Locations: Rights TAIPEI, Taiwan Strait, Taiwan, China, Beijing, Taipei, Shanghai

☆ EV maker BYD buys Jabil's China manufacturing business for $2.2 billion
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO-Security guards stand at the BYD booth at the Auto Shanghai show, in Shanghai, China April 19, 2023. REUTERS/Aly Song/file photo Acquire Licensing RightsAug 28 (Reuters) - Electric vehicle maker BYD Co Ltd (002594.SZ) said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc's (JBL.N) Singaporean unit to buy its product manufacturing business in China for 15.8 billion yuan ($2.17 billion). The deal will expand BYD Electronic (International) Co's (BE) customer base, product portfolio, and expand its business of smartphone components, and boost its growth as it looks to capture the potential growth in the sector. Jabil Circuit (Singapore), which manufactures printed circuit boards, established a unit this month with product manufacturing business in Chengdu and Wuxi, which will now be sold to the Chinese EV maker. ($1 = 7.2890 Chinese yuan renminbi)Reporting by Sameer Manekar in Bengaluru; Editing by Muralikumar Anantharaman and Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Jabil, BYD, Sameer Manekar, Muralikumar Anantharaman Organizations: Security, Auto, REUTERS, BYD, U.S, Jabil Circuit, Thomson Locations: Auto Shanghai, Shanghai, China, Singapore, Chengdu, Wuxi, Bengaluru

☆ Dollar marches to over two-month peak ahead of Powell speech
▼ + stars: | 2023-08-25 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

The dollar index , which measures the U.S. currency against six rivals, rose 0.173% to 104.25, the highest since June 7. The index is up more than 2% in August and is set to snap its two-month losing streak. Wong said Powell is likely to stress that policy outcome remains highly dependent on economic data. "He does not need to be dovish but a less hawkish speech could see dollar ease off." The Australian dollar eased 0.20% to $0.641, while the New Zealand dollar fell 0.27% to $0.590.

Persons: Dado Ruvic, Jerome Powell, Powell, Christopher Wong, Wong, Patrick Harker, Susan Collins, Tom Hopkins, I'd, Ankur Banerjee, Jacqueline Wong Organizations: REUTERS, Rights, U.S, Federal, Jackson, Federal Reserve, Philadelphia Fed, Boston Fed, BRI Wealth Management, Bank of Japan, New Zealand, Thomson Locations: U.S, Singapore, Japan's Tokyo, Tokyo

☆ Exclusive: China's Xiaomi wins state planner nod to make EVs amid glut in autos
▼ + stars: | 2023-08-23 | by ( Julie Zhu | ) www.reuters.com time to read: +4 min

A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. Xiaomi, which owns the world's third largest smartphone brand by shipments, did not immediately respond to a request for comment. Xiaomi plans to produce about 100,000 EVs next year, said one of the sources. But Xiaomi, which reported an 18.9% drop in its latest quarterly revenue in May, has its own compulsions for foraying into EVs. Xiaomi plans to use the thousands of stores it has as showrooms for its electric cars, Reuters previously reported.

Persons: Francis Mascarenhas, HONG KONG, Xiaomi, Tesla, NDRC, MIIT, Lei Jun, Julie Zhu, Muralikumar Organizations: REUTERS, Xiaomi Corp, HK, National Development, Reform Commission, EV, Ministry of Industry, Reuters, Lucid, Beijing Daily, China Passenger Car Association, Thomson Locations: Mumbai, India, HONG, Beijing, Shanghai, Reuters U.S, China, China ., EVs

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