Asia/Pacific

Sharp Corp

Japan's Sharp, banks near $1.7 billion bailout deal: source

Japan's Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discussions said.

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McDonald's

McDonald's Japan sees wider losses this year, plans restructuring

The Japanese unit of McDonald's Corp (MCD.N) forecast deeper losses this year and said it would renovate 2,000 stores while closing underperforming outlets, as it struggles to bring back customers after a series of food safety scandals.

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SunPower Corp

SunPower, Apple to build solar projects in China

Solar panel maker SunPower Corp said it would partner with Apple Inc to build two solar power projects in China's Sichuan province with total capacity of 40 megawatts.

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Gold jewellery

Slack China demand on lofty prices, calm in India ahead of festival

Gold buying in the world's top two gold consuming countries remained slow this week as premiums in China improved only slightly and those in India slipped as the global benchmark stabilised at $1,200 an ounce.

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Pump jack

Brent crude oil prices fall as OPEC production soars

Brent crude oil prices fell on Friday, ending a run of rallies earlier in the week, after OPEC said that its output surged in March, adding to a global glut.

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Factory

China's incredible shrinking factory

Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Today, the Taiwanese light manufacturer has winnowed its workforce to just 200 and leased most of its space to other companies: lamp workshops, a mobile phone maker, a logistics group, a liquor brand.

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Chinese President Xi Jinping

Chinese president to visit Pakistan, hammer out $46-billion deal

Chinese President Xi Jinping will launch energy and infrastructure projects worth $46 billion on a visit to Pakistan next week as China cements links with its old ally and generates opportunities for firms hit by slack growth at home.

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Consumers

China March FDI robust at $12.4 billion, outbound flows up 29.6 percent in first-quarter

Foreign direct investment (FDI) into China rose 2.2 percent on the year in March, while outbound flows posted a milder rise, as foreign corporate investors remain undeterred by China's weakening domestic economic performance.

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Beijing

China's slowing growth not good for anybody, U.S. says

China's slowing growth is not good for anybody but it will not affect U.S. efforts to build business ties, U.S. Commerce Secretary Penny Pritzker said on Wednesday after Beijing announced its weakest quarter of growth in six years.

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Toyota

Toyota resumes expansion with new Mexico, China plants

Toyota Motor Corp said on Wednesday it will build new factories in Mexico and China, ending a self-imposed expansion freeze and putting more pressure on global rivals.

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Samsung Galaxy S6

Samsung Electronics says demand for Galaxy S6 models much higher than planned for

South Korean tech giant Samsung Electronics Co Ltd (005930.KS) on Wednesday said demand for both the flat-screen and curved-screen models of its new flagship Galaxy S6 smartphones is "much higher" than initially planned for.

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Tourists

Xiaomi-backed Chinese firm acquires iconic scooter maker Segway

Chinese transportation robotics firm Ninebot said on Wednesday it has acquired U.S. rival Segway Inc, the company behind the self-balancing scooter that became a technological marvel when it was launched in the early 2000s but whose hype then faded.

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Richard Liu

China's JD.com sets up cross-border e-commerce platform in challenge to Alibaba

JD.com Inc, China's No. 2 e-commerce player, on Wednesday launched its JD Worldwide cross-border online shopping platform, a challenger to Alibaba Group Holding Ltd's Tmall Global service.

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Trans-Pacific Partnership

Japan, U.S. aim for Pacific trade pact progress before summit

Japanese and U.S. officials will meet from Wednesday in a bid to strike a two-way deal giving momentum to a pan-Pacific free-trade pact, the 12-nation Trans-Pacific Partnership (TPP), ahead of a leaders' summit late this month.

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Currency exchange

Japan PM adviser Hamada says dollar at Y120 acceptable

The yen is fairly valued around current levels, a key economic adviser to Prime Minister Shinzo Abe said on Tuesday, a day after comments he made were taken to mean the yen was too weak.

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