ASIA

Tesla closes an office as layoff hits Autopilot jobs, including hourly ones

SAN FRANCISCO, June 28 (Reuters) – Tesla (TSLA.O) has shuttered its office in San Mateo, California and laid off roughly 200 employees working on its Autopilot driver-assistant system there, one of the people told Reuters, in a move seen as accelerating cost-cutting. Most of the laid-off people had been hourly workers, that person said. Early …

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Crypto crash threatens North Korea’s stolen funds as it ramps up weapons tests

SEOUL, June 29 (Reuters) – The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the pressure-stricken country and its weapons programs. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a …

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Asian stocks lose gains made on shorter China quarantine as recession fears persist

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, looks at an electronic board displaying Japan’s Nikkei index outside a brokerage in Tokyo, Japan, March 7, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com register TOKYO, June 29 (Reuters) – Asian stock markets fell on Wednesday, extending Wall Street’s …

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Cryptoverse: Ether holds its breath for the lean, mean ‘merge’

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/File Photo Register now for FREE unlimited access to Reuters.com register June 28 (Reuters) – Investors in ether and its troubled twin stETH are nervously anticipating a crypto milestone: The merge. …

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Stocks swing higher as China eases quarantine rules

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying graphs (top) of Nikkei index outside a brokerage in Tokyo, Japan, March 10, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com register HONG KONG, June 28 (Reuters) – Asian shares swung into positive territory …

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Taiwan’s GlobalWafers to invest $5 bln in new silicon wafer plant in Texas

TAIPEI, June 28 (Reuters) – Taiwan’s GlobalWafers Co Ltd (6488.TWO) will spend $5 billion on a new plant in Texas to make silicon wafers used in semiconductors, switching to the United States after a failed European investment. The company said late Monday the new plant, manufacturing 300-millimeter silicon wafers, would start being built later this …

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Stocks extended bear market bounce as inflation angst eases

MILAN/TOKYO, June 27 (Reuters) – World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark for global …

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China’s May industrial profits slump again despite easing COVID curbs

BEIJING, June 27 (Reuters) – Profits at China’s industrial firms shrank at a slower pace in May following a sharp fall in April, as activity in major manufacturing hubs resumed, but COVID-19 restrictions still weighed on factory production and squeezed factory margins. Profits fell 6.5% from a year earlier, less than the 8.5% decline in …

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The West wants to go further on Russian oil. Inflation makes that difficult

new York CNN Business — Europe and the United States have barred the import of Russian oil to cut off a crucial revenue source for the Kremlin. But the plan to pile pain on President Vladimir Putin, forcing him to reconsider his war in Ukraine, hasn’t worked. Russia is making just as much money from …

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