Tencent shifts focus to majority deals, overseas gaming assets for growth

HONG KONG, Oct 1 (Reuters) – Tencent is resetting its M&A strategy to put more focus on buying majority stakes mainly in overseas gaming companies, as the tech giant eyes global expansion to offset slowing growth at home in China, people with direct knowledge of the matter said. Tencent Holding Ltd (0700.HK) has for years … Read more

Japan spent record of nearly $20.0 bln on intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan can avoid selling U.S. Treasury bills for now – analysts Impact of further intervention may diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent up to a record 2.8 trillion yen ($19.7 billion) intervening in the foreign exchange market last week to prop up the … Read more

Russia vetoes U.S.-led resolution on Moscow’s proclaimed annexations, China abstains

WASHINGTON, Sept 30 (Reuters) – Russia on Friday vetoed a UN Security Council resolution introduced by the United State and Albania condemning Moscow’s proclaimed annexation of parts of Ukraine, and China chose to abstain from the vote. Earlier, Russian President Vladimir Putin proclaimed Russian rule over four regions that make up 15% of Ukraine’s territory … Read more

Elon Musk set to showcase Tesla’s humanoid robot after delay

SAN FRANCISCO, Sept 30 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has said a robot business will be worth more than its cars, and on Friday investors, customers and potential workers expect to see a prototype at Tesla’s “AI Day” that could prove whether the bot named “Optimus” is ready for work. The robot will … Read more

China’s factory, services surveys suggest economy struggling to rebound

China Sept official manufacturing PMI above forecast Private survey shows factory activity contracted sharply Services sector activity growth slowed in Sept – official survey COVID curbs, softening foreign demand, property weakness weigh BEIJING, Sept 30 (Reuters) – China’s factory activity eked out growth in September, but a slowdown in services sector growth and a downbeat … Read more

Exclusive: Brands blast Twitter for ads next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers including Dyson, Mazda, Forbes and PBS Kids have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters. DIRECTV and Thoughtworks also told Reuters late on Wednesday they have paused their advertising on … Read more

Sterling slides after BoE buys bonds, dollar hits 20-year high

NEW YORK/LONDON, Sept 28 (Reuters) – Sterling tumbled against the dollar on Wednesday before paring some losses after the Bank of England (BOE) said it would step in to prop up the gilt market, and the dollar index touched a fresh 20-year high trading was volatile. The BOE said it would buy as many long-dated … Read more

N.Korea fires two ballistic missiles ahead of Harris visit to South

SEOUL, Sept 28 (Reuters) – North Korea fired two short-range ballistic missiles off its east coast on Wednesday, South Korea’s military said, a day before U.S. Vice President Kamala Harris is set to arrive in Seoul. The launch came two days after South Korea and U.S. forces conducted a military drill in waters off the … Read more

U.S. VP Harris condemns ‘disturbing’ Chinese actions

YOKOSUKA, Japan, Sept 28 (Reuters) – U.S. Vice President Kamala Harris condemned on Wednesday “disturbing” actions by China in the Pacific while pledging to deepen “unofficial ties” with Taiwan, days after the U.S. administration pledged its forces would defend the island. Harris made her remarks on the deck on the USS Howard destroyer during a … Read more

Eisai, Biogen say Alzheimer’s drug succeeds in slowing cognitive decline

Sept 27 (Reuters) – Eisai Co Ltd (4523.T) and Biogen Inc (BIIB.O) on Tuesday said their experimental Alzheimer’s drug significantly slowed cognitive and functional decline in a large trial of patients in the early stages of the disease, marking a rare win in a field littered with failed drugs. The drug, lecanemab, slowed progress of … Read more