Reuters Asia - Squid Business

Russia, Belarus, Iran, and Myanmar not invited to King Charles’ coronation – UK source

LONDON (Reuters) – Britain has not issued invitations to King Charles’ coronation ceremony to the leaders of Russia, Belarus, Iran, Myanmar, Syria, Afghanistan and Venezuela, a British source said on Tuesday. Heads of state from other nations with whom Britain has full diplomatic ties were invited, as were representatives of British realms and overseas territories. …

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US concerned by China’s ‘punitive’ actions toward American firms

By Michael Martina and David Brunnstrom WASHINGTON (Reuters) – U.S. Ambassador to China Nicholas Burns said on Tuesday Washington was very concerned about China’s recent “punitive” action toward some U.S. companies, and that foreign firms are delaying investments in the country due to uncertainty about the openness of its economy. Businesses groups have warned about …

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HSBC soothes shareholders by restoring dividend as profit triples

By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) – HSBC tripled its profit in the first quarter as rising interest rates boosted its income, beating analyst forecasts and helping the bank pay its first quarterly dividend since 2019. The strong results reported by HSBC and Asian rival DBS on Tuesday underscore how aggressive policy …

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US FDA halts India’s Sun Pharma trials on dermatological drug

BENGALURU (Reuters) -The U.S. Food and Drug Administration (FDA) has asked India’s Sun Pharmaceutical Industries Ltd to halt tests on one dose of an experimental dermatological drug due to the potential of blood clots, the company said on Tuesday. The FDA has also said that patients with alopecia areata – an autoimmune condition that results …

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Tesla raises prices in US, China, Japan and Canada

By Akriti Sharma (Reuters) -Tesla Inc has raised prices in a range of up to $290 in Canada, China, Japan and the United States, its website showed on Monday, after the company slashed prices of its top-selling vehicles since the start of the year. The hike was the first on its two top-selling models at …

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India’s Tata Steel Q4 profit slumps 83%

BENGALURU (Reuters) – India’s Tata Steel Ltd reported an almost 83% slump in fourth-quarter profit on Tuesday, hurt by falling demand in Europe and weak steel prices. The steelmaker’s consolidated profit was 17.05 billion rupees ($208.4 million) in the fourth quarter ended March 31, compared with a profit of 97.56 billion rupees a year earlier. …

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Food pushes Pakistan inflation to record 36.4% in April

By Ariba Shahid KARACHI, Pakistan (Reuters) -Pakistan inflation rose to a record 36.4% in the year to April driven mainly by food prices, the highest rate in South Asia and up from March’s 35.4%, the statistics bureau said on Tuesday. Pakistan’s rural areas recorded food inflation of 40.2%, the bureau told Reuters. Food inflation for …

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Google AI pioneer says he quit to speak freely about technology’s ‘dangers’

(Reuters) – A pioneer of artificial intelligence said he quit Google to speak freely about the technology’s dangers, after realising computers could become smarter than people far sooner than he and other experts had expected. “I left so that I could talk about the dangers of AI without considering how this impacts Google,” Geoffrey Hinton …

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Carlyle, India’s Premji Invest eye stake in auto loan firm TVS Credit -sources

By M. Sriram MUMBAI(Reuters) – Private equity firm Carlyle and Indian billionaire Azim Premji’s investment unit are in separate talks to invest about $150 million in TVS Credit Services, an arm of scooter and motorcycle maker TVS Motors, two sources told Reuters. The winner of the race to bet on India’s fast-growing shadow-banking sector could …

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Malaysia central bank to hold rates at 2.75% for rest of 2023- Reuters poll

By Anant Chandak and Madhumita Gokhale BENGALURU (Reuters) – Malaysia’s central bank will keep its key interest rate unchanged at 2.75% for a third consecutive meeting on Wednesday and for the rest of this year and next as inflation has cooled faster than expected, a Reuters poll of economists found. After reaching a peak of …

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